Document:

Exhibit 10.20

 

INCENTIVE STOCK OPTION NOTICE

 

 

Dear James Mooney

 

 

This Option Notice (the “Notice”)  dated as of March 28,
2003 (the “Grant Date”) is being sent to you by NTL
Incorporated (including any successor company, the “Company”).  As you are presently serving as an employee
of NTL Incorporated or one of its Subsidiary Corporations, in recognition of
your services and pursuant to the 2003 NTL Incorporated Stock Option Plan (the “Plan”),
the Company has granted you the Option provided for in this Notice. The Option
is subject to the terms and conditions set forth in the Plan, which is
incorporated herein by reference, and defined terms used but not defined in
this Notice shall have the meaning set forth in the Plan.

 

1.  Grant
of Option.  The Company hereby irrevocably grants to you,
as of the Grant Date, an option to purchase up to 300,000 shares of the Company’s
Common Stock at a price of $15.00 per share (the “Option”).  The Option is intended to qualify as an
Incentive Stock Option under U.S. tax laws and the Company will treat it as
such to the extent permitted by applicable law.

 

2.  Vesting.   The Option shall vest with respect to 20% of
the shares covered thereby each year on a quarterly basis (5% each quarter)
over a five-year period.  The first
vesting shall be on March 31, 2003. 
Notwithstanding the foregoing, in the event of change of control where
you do not retain the Chairman title, the Option shall become fully
vested.  In the event of a termination of
your employment without Cause, all options that would have vested within a
12-month period will become immediately vested.

 

3.  Exercise
Period.  Except as set forth in paragraph 2 above, the
Option shall stop vesting immediately upon the termination of your employment
and any portion of the Option that is not vested at the time of termination of
your employment shall immediately be forfeited and cancelled.  Your right to exercise that portion of the
Option that is vested at the time of your termination shall terminate on the
earlier of the following dates: (a) three months after your termination
other without Cause; (b) one year after your termination resulting from
your retirement, disability or death; (c) the date on which your
employment is terminated for Cause; or (d) March 27, 2013.  You agree that, pursuant to your employment
arrangement, you will not sell any shares underlying your Option prior to March 1,
2004.

 

4.  Manner of Exercise.  This Option may be
exercised by delivery to NTL Incorporated, Attn: Robert Mackenzie/Stock Options
at its office (NTL House, Bartley Wood Business Park, Hook, Hampshire, RG24
9XA) of a notice in the form attached signed by the person entitled to exercise
the Option, specifying the number of shares which such person wishes to
purchase, together with a certified or bank check or cash (or such other manner
of payment as permitted by the Plan) for the aggregate option price for that
number of shares and any required
withholding (including a payment sufficient to indemnify the Company or any
subsidiary of the Company in full against any and all liability to account for
any tax or duty payable and arising by reason of the exercise of the Option).

 

5.  Transferability. 
Neither this Option nor any interest in this Option may be transferred
other than by will or the laws of descent or distribution, and this Option may
be exercised during your lifetime only by you or your guardian or legal
representative.

 

 

	
   

  	
  NTL INCORPORATED

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ Barclay Knapp

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
  Barclay Knapp

  	
   

  
	
   

  	
  Title:

  	
  President and Chief Executive OfficerExhibit 10.26

 

 

NTL INCORPORATED

 

RESTRICTED STOCK AGREEMENT

 

 

RESTRICTED STOCK AGREEMENT dated as of the 16th day of January 2006,
between NTL Incorporated, a Delaware corporation (the “Company”), and Stephen
A. Burch (the “Executive”).

 

WHEREAS, the Company wishes to grant to the
Executive, and the Executive wishes to accept from the Company, shares of
common stock of the Company, par value $0.01 per share (the “Restricted Stock”),
to be granted pursuant to the Amended and Restated NTL 2004 Stock Incentive
Plan (the “Plan”);

 

NOW, THEREFORE, the parties hereto agree as
follows:

 

1.                                       Grant
of Restricted Stock

 

The
Company hereby grants to the Executive, and the Executive hereby accepts from
the Company, 300,000 shares of Restricted Stock on the terms and conditions set
forth in this Agreement.  This Agreement
is also subject to the terms and conditions set forth in the Plan.  Capitalized terms used but not defined herein
shall have the meanings set forth in the Plan.

 

2.                                       Rights of Executive

 

Except
as otherwise provided in this Agreement, the Executive shall be entitled, at
all times on and after the date that the shares of Restricted Stock are issued,
to exercise all the rights of a stockholder with respect to the shares of
Restricted Stock (whether or not the restrictions thereon shall have lapsed),
including the right to vote the shares of Restricted Stock and the right,
subject to Section 6 hereof, to receive dividends thereon.  Notwithstanding the foregoing, prior to an
applicable Lapse Date (as defined below), the Executive shall not be entitled
to transfer, sell, pledge, hypothecate, assign, or otherwise dispose of or
encumber, the shares of Restricted Stock subject to such Lapse Date
(collectively, the “Transfer Restrictions”).

 

3.                                       Vesting and
Lapse of Transfer Restrictions

 

3.1                                 The Transfer
Restrictions on 150,000 shares of the Restricted Stock shall lapse and shall
vest as follows:

 

(i)                           as to 50,000
shares on January 15, 2007;

 

(ii)                        as to 50,000
shares on January 15, 2008; and

 

(iii)                     as to 50,000
shares on December 31, 2008.

 

3.2                                 The Transfer
Restrictions on the remaining 150,000 shares of the Restricted Stock shall
lapse and shall vest as follows:

 

(i)                           as to 50,000
shares if performance conditions agreed to by the Company and the Executive in
respect of the Company’s 2006 fiscal year have been met, so long as the
Executive has remained continuously employed by the Company from the date of
commencement of his employment through January 15, 2007;

 

 

 

(ii)                        as to 50,000
shares if performance conditions agreed to by the Company and the Executive in
respect of the Company’s 2007 fiscal year have been met, so long as the
Executive has remained continuously employed by the Company from the date of
commencement of his employment through January 15, 2008; and

 

(iii)                     as to 50,000
shares if performance conditions agreed to by the Company and the Executive in
respect of the Company’s 2008 fiscal year have been met, so long as the
Executive has remained continuously employed by the Company from the date of
commencement of his employment through December 31, 2008.

 

The
Lapse Date in respect of the shares of Restricted Stock subject to this Section 3.2
shall occur on the date on which the Committee determines that the applicable
performance conditions have been met and shall be forfeited if the Committee
determines that such performance conditions have not been met.  The Committee shall meet to determine whether
such performance conditions have been met promptly after completion by the
Company of the financial reports or other information necessary to make such
determination.

 

3.3                                 Notwithstanding
Section 3.1 or 3.2, upon the occurrence of an Acceleration Event, the
Transfer Restrictions on all of the shares of Restricted Stock granted
hereunder and then outstanding shall lapse.

 

3.4                                 Each date on
which Transfer Restrictions on shares of Restricted Stock shall lapse and shall
vest is referred to in this Agreement as a “Lapse Date”.

 

4.                                       Escrow and
Delivery of Shares

 

4.1                                 Certificates
representing the shares of Restricted Stock shall be issued and held by the
Company in escrow and shall remain in the custody of the Company until their
delivery to the Executive or the Executive’s estate as set forth in Section 4.2
hereof, subject to the Executive’s delivery of any documents which the Company
in its discretion may require as a condition to the issuance of shares and the
delivery of shares to the Executive or the Executive’s estate.

 

4.2                                 (a)                                  Certificates
representing those shares of Restricted Stock in respect of which the Transfer Restrictions
have lapsed pursuant to Section 3 hereof shall be delivered to the
Executive as soon as practicable following the applicable Lapse Date, provided
that the Executive has satisfied all applicable Withholding Tax requirements
with respect to the Restricted Stock.

 

(b)                                 The Executive
may receive, hold, sell, or otherwise dispose of those shares delivered to the
Executive pursuant to paragraph (a) of this Section 4.2 free and
clear of the Transfer Restrictions, but subject to compliance with all federal
and state securities laws.

 

4.3                                 (a)                                  Prior to the
applicable Lapse Date, each stock certificate evidencing shares of Restricted
Stock as to which the Transfer Restrictions have not lapsed shall bear a legend
in substantially the following form:

 

2

 

“This
certificate and the shares of stock represented hereby are subject to the terms
and conditions (including forfeiture, restrictions against transfer and rights
of repurchase, if applicable) contained in the Restricted Stock Agreement (the “Agreement”)
between the registered owner of the shares represented hereby and the
Company.  Release from such terms and
conditions shall be made only in accordance with the provisions of the
Agreement, a copy of which is on file in the office of the Secretary of NTL
Incorporated.”

 

(b)                                 As soon as
practicable following each applicable Lapse Date, the Company shall issue new
certificates in respect of the shares that have vested as of such Lapse Date
which shall not bear the legend set forth in paragraph (a) of this Section 4.3,
which certificates shall be delivered in accordance with Section 4.2
hereof.

 

5.                                       Effect of
Termination of Employment for any Reason

 

Upon
termination of the Executive’s employment with the Company and its Affiliates,
if applicable, for any reason, the Executive shall forfeit the shares of
Restricted Stock which are subject to the Transfer Restrictions, and, from and
after such forfeiture, the Executive shall have no rights with respect thereto.

 

6.                                       Voting and
Dividend Rights

 

All
dividends declared and paid by the Company on shares of Restricted Stock shall
be deferred until the lapsing of the Transfer Restrictions pursuant to Section 3
hereof (and shall be subject to forfeiture upon forfeiture of the shares of
Restricted Stock as to which such deferred dividends relate).  The deferred dividends shall be held by the
Company for the account of the Executive. 
Upon each applicable Lapse Date, the dividends allocable to the shares
of Restricted Stock as to which the Transfer Restrictions have lapsed shall be
paid to the Executive (without interest). 
The Company may require that the Executive invest any cash dividends
received in additional Restricted Stock which shall be subject to the same
conditions and restrictions as the Restricted Stock granted under this
Agreement.

 

7.                                       No Right to Continued Employment

 

Nothing
in this Agreement shall be interpreted or construed to confer upon the
Executive any right with respect to continuance of employment by the Company or
any of its Affiliates, nor shall this Agreement interfere in any way with the
right of the Company or any such Affiliate to terminate the Executive’s
employment at any time.

 

8.                                       Withholding of Taxes

 

The
Executive shall pay to the Company, or the Company and the Executive shall
agree on such other arrangements necessary for the Executive to pay, the
applicable federal, state and local income taxes required by law to be withheld
(the “Withholding Taxes”), if any, upon the vesting and delivery of the shares.  The Company shall have the right to deduct
from any payment of cash to the Executive an amount equal to the Withholding
Taxes in satisfaction of the Executive’s obligation to pay Withholding Taxes.

 

3

 

9.                                       Modification
of Agreement

 

This
Agreement may be modified, amended, suspended or terminated, and any terms or
conditions may be waived, but only by a written instrument executed by the
parties hereto.

 

10.                                 Severability

 

Should
any provision of this Agreement be held by a court of competent jurisdiction to
be unenforceable or invalid for any reason, the remaining provisions of this
Agreement shall not be affected by such holding and shall continue in full
force and effect in accordance with their terms.

 

11.                                 Governing Law

 

The
validity, interpretation, construction and performance of this Agreement shall
be governed by the laws of the State of New York without giving effect to the
conflicts of laws principles thereof.

 

12.                                 Successors in Interest;
Transfer

 

This
Agreement shall inure to the benefit of and be binding upon any successor to
the Company.  This Agreement shall inure
to the benefit of the Executive’s heirs, executors, administrators and
successors.  All obligations imposed upon
the Executive and all rights granted to the Company under this Agreement shall
be binding upon the Executive’s heirs, executors, administrators and
successors.  This Agreement is not
assignable by the Executive.

 

For
the avoidance of doubt, (i) the Company may assign its rights and
obligations hereunder to Telewest Global, Inc or its successors (whether direct
or indirect, by purchase, merger, consolidation, reorganization or otherwise)
in connection with the proposed merger transaction pursuant to the agreement
entered into between the Company and Telewest Global, Inc on October 2,
2005 as amended from time to time; and (ii) in no event shall the
consummation of such transaction be deemed to be an Acceleration Event.

 

 

 

[the
remainder of this page is intentionally left blank]

 

4

 

	
   

  	
  NTL INCORPORATED

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ James F. Mooney

  
	
   

  	
  Name:

  	
  James F. Mooney

  
	
   

  	
  Title:

  	
  Chairman

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  ACCEPTED
  AND AGREED

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/
  Stephen A. Burch

  	
   

  	
   

  	
   

  
	
  Name:

  	
  Stephen
  A. Burch

  	
   

  	
   

  	
   

  
	
  Title:

  	
  Executive

  	
   

  	
   

  	
   

  

 

5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00137-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00137-of-00352.parquet"}]]