Document:

exhibit 10.2(g)(iii)

    Exhibit
      10.2(g)(iii)

    

    FORM
      OF NON-QUALIFIED STOCK OPTION AGREEMENT

    UNDER
      THE CENTURYTEL, INC.

    2005
      MANAGEMENT INCENTIVE COMPENSATION PLAN

    (2006
      Grants to Section 16 Officers)

     

    THIS
      NON-QUALIFIED STOCK OPTION AGREEMENT (this (“Agreement”) is entered
      into as of February 21, 2006, by and between CenturyTel, Inc., a Louisiana
      corporation (“CenturyTel”), and _________________ (“Optionee”).

     

    WHEREAS,
      CenturyTel maintains the 2005 Management Incentive Compensation Plan (the
“Plan”), under which the Compensation Committee of the Board of Directors of
      CenturyTel (the “Committee”) may, directly or indirectly, among other things,
      grant options to purchase shares of CenturyTel’s common stock, $1.00 par value
      per share (the “Common Stock”), to key employees of CenturyTel or its
      subsidiaries (collectively, the “Company”), on terms and conditions as it may
      deem appropriate; and

     

    WHEREAS,
      pursuant
      to the Plan the Committee has awarded to the Optionee an option to purchase
      shares of Common Stock on the terms and conditions specified below;

     

    NOW,
      THEREFORE,
      in
      consideration of the premises, it is agreed as follows:

     

    1. 

    GRANT
      OF
      OPTION

     

    1.01  In
      consideration of future services, CenturyTel hereby grants to Optionee,
      effective February 21, 2006 (the “Date of Grant”), the right, privilege and
      option to purchase _______ shares of Common Stock (the “Option”) at an exercise
      price of $35.41 per share.

     

    1.02  The
      Option is a non-qualified stock option and shall not be treated as an incentive
      stock option under Section 422 of the Internal Revenue Code of 1986, as amended
      (the “Code”).

     

    2. 

    TIME
      OF
      EXERCISE

     

    2.01  Subject
      to the provisions of the Plan and the other provisions of this Agreement, the
      Optionee shall be entitled to exercise the Option as follows:

    

    
      	 	
              With
                respect to one-third of the shares covered by the Option

               

            	
              March
                15, 2007

               

            	 
	 	
              With
                respect to two-thirds of the shares covered by the Option, less any
                shares
                previously issued

               

            	
              March
                15, 2008

               

            	 
	 	
              With
                respect to all of the shares covered by the Option, less any shares
                previously issued.

               

            	
              March
                15, 2009

               

            	 

    

     

    The
      Option shall expire and may not be exercised later than ten years after the
      Date
      of Grant.

     

    2.02  Notwithstanding
      the foregoing, the Option shall become accelerated and immediately exercisable
      in full (a) if Optionee dies while he is employed by the Company, (b) if
      Optionee becomes disabled within the meaning of Section 22(e)(3) of the Code
      (“Disability”) while he is employed by the Company, (c) if Optionee retires from
      employment with the Company on or after attaining the age of 55 (“Retirement”)
      or (d) pursuant to the provisions of the Plan.

     

    3.

    CONDITIONS
      FOR EXERCISE OF OPTION

     

    During
      Optionee’s lifetime, the Option may be exercised only by him or by his legal
      representative. The Option must be exercised while Optionee is employed by
      the
      Company, or, to the extent exercisable at the time of termination of employment,
      within 190 days of the date on which he ceases to be an employee, except that
      (a) if he ceases to be an employee because of Retirement, the Option may be
      exercised within three years from the date on which he ceases to be an employee,
      (b) if an Optionee’s employment is terminated for cause, the unexercised portion
      of the Option is immediately terminated, and (c) in the event of Optionee’s
      Disability or death, the Option may be exercised by the Optionee or, in the
      case
      of death, by his estate or by the person to whom such right devolves from him
      by
      reason of his death within two years after the date of his Disability or death;
      provided,
      however,
      that the
      Option and all option gain, as defined in Section 4.01, shall at all times
      be
      subject to the forfeiture provisions of Section 4 hereof; and provided
      further
      that no
      rights to purchase Common Stock under this Option may be exercised later than
      ten years after the Date of Grant.

     

    4.

    FORFEITURE
      OF OPTION AND OPTION GAIN

     

    4.01  If,
      at
      any time during Optionee’s employment by the Company or within 18 months after
      termination of employment, Optionee engages in any activity in competition
      with
      any activity of the Company, or inimical, contrary or harmful to the interests
      of the Company, including but not limited to: (a) conduct relating to Optionee’s
      employment for which either criminal or civil penalties against Optionee may
      be
      sought, (b) conduct or activity that results in termination of Optionee’s
      employment for cause, (c) violation of Company policies, including, without
      limitation, the Company’s insider trading policy and corporate compliance
      program, (d) accepting employment with, acquiring a 5% or more equity or
      participation interest in, serving as a consultant, advisor, director or agent
      of, directly or indirectly soliciting or recruiting any employee of the Company
      who was employed at any time during Optionee’s tenure with the Company, or
      otherwise assisting in any other capacity or manner any company or enterprise
      that is directly or indirectly in competition with or acting against the
      interests of the Company or any of its lines of business (a “competitor”),
      except for (A) any isolated, sporadic accommodation or assistance provided
      to a
      competitor, at its request, by Optionee during Optionee’s tenure with the
      Company, but only if provided in the good faith and reasonable belief that
      such
      action would benefit the Company by promoting good business relations with
      the
      competitor and would not harm the Company’s interests in any substantial manner
      or (B) any other service or assistance that is provided at the request or with
      the written permission of the Company, (e) disclosing or misusing any
      confidential information or material concerning the Company, (f) engaging in,
      promoting, assisting or otherwise participating in a hostile takeover attempt
      of
      the Company or any other transaction or proxy contest that could reasonably
      be
      expected to result in a Change of Control (as defined in the Plan) not approved
      by CenturyTel’s Board of Directors or (g) making any statement or disclosing any
      information to any customers, suppliers, lessors, lessees, licensors, licensees,
      regulators, employees or others with whom the Company engages in business that
      is defamatory or derogatory with respect to the business, operations,
      technology, management, or other employees of the Company, or taking any other
      action that could reasonably be expected to injure the Company in its business
      relationships with any of the foregoing parties or result in any other
      detrimental effect on the Company, then (i) the Option shall automatically
      terminate without any payment to Optionee effective the date on which Optionee
      engages in such activity, unless terminated sooner by operation of another
      term
      or condition of this Agreement or the Plan, and (ii) Optionee shall pay in
      cash
      to the Company, without interest, any option gain realized by Optionee from
      exercising all or a portion of the Option during the period beginning one year
      prior to termination of employment (or one year prior to the date Optionee
      first
      engages in such activity if no termination occurs) and ending on the date on
      which the Option terminates. For purposes hereof, “option gain” shall mean the
      difference between the closing market price of the Common Stock on the date
      of
      exercise minus the exercise price, multiplied by the number of shares
      purchased.

     

    4.02  If
      Optionee owes any amount to the Company under Section 4.01 above, Optionee
      acknowledges that the Company may deduct such amount from any amounts the
      Company owes Optionee from time to time for any reason (including without
      limitation amounts owed to Optionee as salary, wages, reimbursements or other
      compensation, fringe benefits, retirement benefits or vacation pay). Whether
      or
      not the Company elects to make any such set-off in whole or in part, if the
      Company does not recover by means of set-off the full amount Optionee owes
      it,
      Optionee hereby agrees to pay immediately the unpaid balance to the
      Company.

     

    4.03  Optionee
      may be released from Optionee’s obligations under Sections 4.01 and 4.02 above
      only if the Committee determines in its sole discretion that such action is
      in
      the best interests of the Company.

     

    5.

    PREFERENCE
      SHARE PURCHASE RIGHTS

     

    Upon
      exercise of an Option at a time when preference share purchase rights to
      purchase shares of Series BB Participating Cumulative Preference Stock or other
      securities or property of the Company (the “Rights” and each a “Right”) remain
      outstanding pursuant to that certain Rights Agreement dated as of August 27,
      1996 between CenturyTel and the Rights Agent named therein, as amended through
      the date of such exercise, or pursuant to any successor Rights Agreement, then
      Optionee shall receive Rights in conjunction with Optionee’s receipt of shares
      of Common Stock on the terms and conditions of the applicable Rights
      Agreement.

     

    6.

    ADDITIONAL
      CONDITIONS

     

    Anything
      in this Agreement to the contrary notwithstanding, if at any time CenturyTel
      further determines, in its sole discretion, that the listing, registration
      or
      qualification (or any updating of any such document) of the shares of Common
      Stock issuable pursuant to the exercise of an Option is necessary on any
      securities exchange or under any federal or state securities or blue sky law,
      or
      that the consent or approval of any governmental regulatory body is necessary
      or
      desirable as a condition of, or in connection with the issuance of shares of
      Common Stock pursuant thereto, or the removal of any restrictions imposed on
      such shares, such shares of Common Stock shall not be issued, in whole or in
      part, unless such listing, registration, qualification, consent or approval
      shall have been effected or obtained free of any conditions not acceptable
      to
      CenturyTel. CenturyTel agrees to use commercially reasonable efforts to issue
      all shares of Common Stock issuable hereunder on the terms provided
      herein.

     

    7.

    ATTORNEYS’
      FEES AND EXPENSES

     

    Should
      any party hereto retain counsel for the purpose of enforcing, or preventing
      the
      breach of, any provision hereof, including, but not limited to, the institution
      of any action or proceeding in court to enforce any provision hereof, to enjoin
      a breach of any provision of this Agreement, to obtain specific performance
      of
      any provision of this Agreement, to obtain monetary or liquidated damages for
      failure to perform any provision of this Agreement, or for a declaration of
      such
      parties’ rights or obligations hereunder, or for any other judicial remedy, then
      the prevailing party shall be entitled to be reimbursed by the losing party
      for
      all costs and expenses incurred thereby, including, but not limited to,
      attorneys’ fees (including costs of appeal).

     

    8.

    NO
      CONTRACT OF EMPLOYMENT INTENDED

     

    Nothing
      in this Agreement shall confer upon Optionee any right to continue in the
      employment of the Company or to interfere in any way with the right of the
      Company to terminate Optionee’s employment relationship with the Company at any
      time.

     

    9.

    WITHHOLDING
      TAXES

     

    The
      Company may make such provisions as it may deem appropriate for the withholding
      of any federal, state and local taxes that it determines are required to be
      withheld on any exercise of the Option. In accordance with and subject to the
      terms of the Plan, Optionee may satisfy the tax withholding obligation in whole
      or in part by delivering currently owned shares of Common Stock or electing
      to
      have CenturyTel withhold from the shares Optionee otherwise would receive
      hereunder shares of Common Stock having a value equal to the minimum amount
      required to be withheld (as determined under the Plan).

     

    10.

    BINDING
      EFFECT

     

    This
      Agreement shall inure to the benefit of and be binding upon the parties hereto
      and their respective heirs, executors, administrators, legal representatives
      and
      successors. Without limiting the generality of the foregoing, whenever the
      term
“Optionee” is used in any provision of this Agreement under circumstances where
      the provision appropriately applies to the heirs, executors, administrators
      or
      legal representatives to whom this Option may be transferred by will or by
      the
      laws of descent and distribution, the term “Optionee” shall be deemed to include
      such person or persons.

     

    11.

    INCONSISTENT
      PROVISIONS

     

    Optionee
      agrees that the Option granted hereby is subject to the terms, conditions,
      restrictions and other provisions of the Plan as fully as if all such provisions
      were set forth in their entirety in this Agreement. If any provision of this
      Agreement conflicts with a provision of the Plan, the Plan provision shall
      control. Optionee acknowledges that a copy of the Plan and a prospectus
      summarizing the Plan was distributed or made available to Optionee and that
      Optionee was advised to review such materials prior to entering into this
      Agreement. Optionee waives the right to claim that the provisions of the Plan
      are not binding upon Optionee and Optionee’s heirs, executors, administrators,
      legal representatives and successors.

     

    12.

    ADJUSTMENTS
      TO OPTIONS

     

    The
      parties acknowledge that (i) appropriate adjustments shall be made to the number
      and class of shares of Common Stock subject to the Option and to the exercise
      price in certain situations described in Section 4.5 of the Plan and (ii)
      adjustments to the rights of the Optionee might be made in the event of a Change
      of Control, as defined in Section 11.12 of the Plan.

     

    13.

    TERMINATION
      OF OPTION

     

    The
      Committee, in its sole discretion, may terminate the Option. However, no
      termination may adversely affect the rights of Optionee to the extent that
      the
      Option is currently exercisable on the date of such termination.

     

    14.

    GOVERNING
      LAW

     

    This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of Louisiana.

     

    15.

    SEVERABILITY

     

    If
      any
      term or provision of this Agreement, or the application thereof to any person
      or
      circumstance, shall at any time or to any extent be invalid, illegal or
      unenforceable in any respect as written, Optionee and CenturyTel intend for
      any
      court construing this Agreement to modify or limit such provision so as to
      render it valid and enforceable to the fullest extent allowed by law. Any such
      provision that is not susceptible of such reformation shall be ignored so as
      to
      not affect any other term or provision hereof, and the remainder of this
      Agreement, or the application of such term or provision to persons or
      circumstances other than those as to which it is held invalid, illegal or
      unenforceable, shall not be affected thereby and each term and provision of
      this
      Agreement shall be valid and enforced to the fullest extent permitted by
      law.

     

    16.

    ENTIRE
      AGREEMENT; MODIFICATION

     

    The
      Plan
      and this Agreement contain the entire agreement between the parties with respect
      to the subject matter contained herein and may not be modified, except as
      provided in the Plan, as it may be amended from time to time in the manner
      provided therein, or in this Agreement, as it may be amended from time to time
      by a written document signed by each of the parties hereto. Any oral or written
      agreements, representations, warranties, written inducements, or other
      communications with respect to the subject matter contained herein made prior
      to
      the execution of the Agreement shall be void and ineffective for all
      purposes.

     

    IN
      WITNESS WHEREOF the parties hereto have caused this Agreement to be executed
      as
      of the day and year first above written.

    

    

      

        
          	 	
                  CenturyTel,
                    Inc.

                
	 	
                  By: 
                    _____________________________

                
	   	
                         Glen
                    F. Post, III 

                        
                    Chairman and Chief Executive Officer

                
	 	
                   

                       
                    ____________________________

                
	 	
                                      
                    {insert name}

                
	   	
                                         
                    OptioneeExhibit 10.2(g)(iv)

    Exhibit
      10.2(g)(iv)

    

    FORM
      OF RESTRICTED STOCK AGREEMENT

    UNDER
      THE CENTURYTEL, INC.

    2005
      MANAGEMENT INCENTIVE COMPENSATION PLAN

    (2006
      Grants to Section 16 Officers)

    

    

    This
      RESTRICTED STOCK AGREEMENT (this “Agreement”) is entered into as of February 21,
      2006, by and between CenturyTel, Inc. (“CenturyTel”) and _____________ (“Award
      Recipient”).

     

    WHEREAS,
      CenturyTel maintains the 2005 Management Incentive Compensation Plan (the
“Plan”), under which the Compensation Committee of the Board of Directors of
      CenturyTel (the “Committee”) may, directly or indirectly, among other things,
      grant restricted shares of CenturyTel’s common stock, $1.00 par value per share
      (the “Common Stock”), to key employees of CenturyTel or its subsidiaries
      (collectively, the “Company”), subject to such terms, conditions, or
      restrictions as it may deem appropriate; and

     

    WHEREAS,
      pursuant
      to the Plan the Committee has awarded to the Award Recipient restricted shares
      of Common Stock on the terms and conditions specified below;

     

    NOW,
      THEREFORE,
      the
      parties agree as follows:

     

    1.

    AWARD
      OF
      SHARES

     

    Upon
      the
      terms and conditions of the Plan and this Agreement, CenturyTel as of the date
      of this Agreement hereby awards to the Award Recipient ________ restricted
      shares of Common Stock, together with associated preference share purchase
      rights under CenturyTel’s rights agreement dated as of August 27, 1996, as
      amended, or any successor rights plan (collectively, the “Restricted Stock”),
      that vest, subject to Sections 2, 3 and 4 hereof, in installments as
      follows:

    

    
      	
              Scheduled
                Vesting Date

            	
              Number
                of Shares of Restricted Stock

               

            
	
              March
                15, 2007

            	 
	
              March
                15, 2008

            	 
	
              March
                15, 2009

            	 
	
              March
                15, 2010

            	 
	
              March
                15, 2011

            	 

    

     

    2.

    AWARD
      RESTRICTIONS ON

    RESTRICTED
      STOCK

     

    2.1  In
      addition to the conditions and restrictions provided in the Plan, neither the
      shares of Restricted Stock nor the right to vote the Restricted Stock, to
      receive dividends thereon or to enjoy any other rights or interests thereunder
      or hereunder may be sold, assigned, donated, transferred, exchanged, pledged,
      hypothecated or otherwise encumbered prior to vesting. Subject to the
      restrictions on transfer provided in this Section 2.1, the Award Recipient
      shall
      be entitled to all rights of a shareholder of CenturyTel with respect to the
      Restricted Stock, including the right to vote the shares and receive all
      dividends and other distributions declared thereon.

     

    2.2  If
      the
      shares of Restricted Stock have not already vested in accordance with Section
      1
      above, the shares of Restricted Stock shall vest and all restrictions set forth
      in Section 2.1 shall lapse on the earlier of:

     

    (a)  the
      date
      on which the employment of the Award Recipient terminates as a result of (i)
      death, (ii) disability within the meaning of Section 22(e)(3) of the Internal
      Revenue Code, or (iii) if permitted by the Committee in accordance with Section
      3 below, retirement or termination by the Company; or

     

    (b)  the
      occurrence of a Change of Control of CenturyTel, as described in Section 11.12
      of the Plan.

     

    3.

    TERMINATION
      OF EMPLOYMENT

     

    If
      the
      Award Recipient’s employment terminates as the result of death or disability
      within the meaning of Section 22(e)(3) of the Internal Revenue Code, all
      unvested shares of Restricted Stock granted hereunder shall immediately vest.
      Unless the Committee determines otherwise in the case of retirement of the
      Award
      Recipient or termination by the Company of the Award Recipient’s employment,
      termination of employment for any other reason, except termination upon a Change
      of Control (as provided in Section 11.12 of the Plan), shall automatically
      result in the termination and forfeiture of all unvested Restricted
      Stock.

     

    4.

    FORFEITURE
      OF AWARD 

     

    4.1  If,
      at
      any time during the Award Recipient’s employment by the Company or within 18
      months after termination of employment, the Award Recipient engages in any
      activity in competition with any activity of the Company, or inimical, contrary
      or harmful to the interests of the Company, including but not limited to: (a)
      conduct relating to the Award Recipient’s employment for which either criminal
      or civil penalties against the Award Recipient may be sought, (b) conduct or
      activity that results in termination of the Award Recipient’s employment for
      cause, (c) violation of the Company’s policies, including, without limitation,
      the Company’s insider trading policy and corporate compliance program, (d)
      accepting employment with, acquiring a 5% or more equity or participation
      interest in, serving as a consultant, advisor, director or agent of, directly
      or
      indirectly soliciting or recruiting any employee of the Company who was employed
      at any time during the Award Recipient’s tenure with the Company, or otherwise
      assisting in any other capacity or manner any company or enterprise that is
      directly or indirectly in competition with or acting against the interests
      of
      the Company or any of its lines of business (a “competitor”), except for (A) any
      isolated, sporadic accommodation or assistance provided to a competitor, at
      its
      request, by the Award Recipient during the Award Recipient’s tenure with the
      Company, but only if provided in the good faith and reasonable belief that
      such
      action would benefit the Company by promoting good business relations with
      the
      competitor and would not harm the Company’s interests in any substantial manner
      or (B) any other service or assistance that is provided at the request or with
      the written permission of the Company, (e) disclosing or misusing any
      confidential information or material concerning the Company, (f) engaging in,
      promoting, assisting or otherwise participating in a hostile takeover attempt
      of
      the Company or any other transaction or proxy contest that could reasonably
      be
      expected to result in a Change of Control (as defined in the Plan) not approved
      by the CenturyTel Board of Directors or (g) making any statement or disclosing
      any information to any customers, suppliers, lessors, lessees, licensors,
      licensees, regulators, employees or others with whom the Company engages in
      business that is defamatory or derogatory with respect to the business,
      operations, technology, management, or other employees of the Company, or taking
      any other action that could reasonably be expected to injure the Company in
      its
      business relationships with any of the foregoing parties or result in any other
      detrimental effect on the Company, then the award of Restricted Stock granted
      hereunder shall automatically terminate and be forfeited effective on the date
      on which the Award Recipient engages in such activity and (i) all shares of
      Common Stock acquired by the Award Recipient pursuant to this Agreement (or
      other securities into which such shares have been converted or exchanged) shall
      be returned to the Company or, if no longer held by the Award Recipient, the
      Award Recipient shall pay to the Company, without interest, all cash, securities
      or other assets received by the Award Recipient upon the sale or transfer of
      such stock or securities, and (ii) all unvested shares of Restricted Stock
      shall
      be forfeited. 

     

    4.2  If
      the
      Award Recipient owes any amount to the Company under Section 4.1 above, the
      Award Recipient acknowledges that the Company may, to the fullest extent
      permitted by applicable law, deduct such amount from any amounts the Company
      owes the Award Recipient from time to time for any reason (including without
      limitation amounts owed to the Award Recipient as salary, wages, reimbursements
      or other compensation, fringe benefits, retirement benefits or vacation pay).
      Whether or not the Company elects to make any such set-off in whole or in part,
      if the Company does not recover by means of set-off the full amount the Award
      Recipient owes it, the Award Recipient hereby agrees to pay immediately the
      unpaid balance to the Company.

     

    4.3  The
      Award
      Recipient may be released from the Award Recipient’s obligations under Sections
      4.1 and 4.2 above only if the Committee determines in its sole discretion that
      such action is in the best interests of the Company.

     

    5.

    STOCK
      CERTIFICATES

     

    5.1  The
      stock
      certificates evidencing the Restricted Stock shall be retained by CenturyTel
      until the lapse of restrictions under the terms hereof. CenturyTel shall place
      a
      legend, in the form specified in the Plan, on the stock certificates restricting
      the transferability of the shares of Restricted Stock.

     

    5.2  Upon
      the
      lapse of restrictions on shares of Restricted Stock, CenturyTel shall cause
      a
      stock certificate without a restrictive legend to be issued with respect to
      the
      vested Restricted Stock in the name of the Award Recipient or his or her nominee
      within 30 days. Upon receipt of such stock certificate, the Award Recipient
      is
      free to hold or dispose of the shares represented by such certificate, subject
      to (i)
      applicable securities laws, (ii)
      CenturyTel’s insider trading policy, and (iii)
      any
      applicable stock retention policies that CenturyTel may adopt in the
      future.

     

    6.

    WITHHOLDING
      TAXES

    

    At
      the
      time that all or any portion of the Restricted Stock vests, the Award Recipient
      must deliver to CenturyTel the amount of income tax withholding required by
      law.
      In accordance with and subject to the terms of the Plan, the Award Recipient
      may
      satisfy the tax withholding obligation in whole or in part by delivering
      currently owned shares of Common Stock or by electing to have CenturyTel
      withhold from the shares the Award Recipient otherwise would receive hereunder
      shares of Common Stock having a value equal to the minimum amount required
      to be
      withheld (as determined under the Plan).

     

    7.

    ADDITIONAL
      CONDITIONS

    

    Anything
      in this Agreement to the contrary notwithstanding, if at any time CenturyTel
      further determines, in its sole discretion, that the listing, registration
      or
      qualification (or any updating of any such document) of the shares of Common
      Stock issuable pursuant hereto is necessary on any securities exchange or under
      any federal or state securities or blue sky law, or that the consent or approval
      of any governmental regulatory body is necessary or desirable as a condition
      of,
      or in connection with the issuance of shares of Common Stock pursuant thereto,
      or the removal of any restrictions imposed on such shares, such shares of Common
      Stock shall not be issued, in whole or in part, or the restrictions thereon
      removed, unless such listing, registration, qualification, consent or approval
      shall have been effected or obtained free of any conditions not acceptable
      to
      CenturyTel. CenturyTel agrees to use commercially reasonable efforts to issue
      all shares of Common Stock issuable hereunder on the terms provided
      herein.

     

    8.

    NO
      CONTRACT OF EMPLOYMENT INTENDED

    

    Nothing
      in this Agreement shall confer upon the Award Recipient any right to continue
      in
      the employment of the Company, or to interfere in any way with the right of
      the
      Company to terminate the Award Recipient’s employment relationship with the
      Company at any time.

     

     

    9.

    BINDING
      EFFECT

    

    This
      Agreement shall inure to the benefit of and be binding upon the parties hereto
      and their respective heirs, executors, administrators, legal representatives
      and
      successors. Without limiting the generality of the foregoing, whenever the
      term
“Award Recipient” is used in any provision of this Agreement under circumstances
      where the provision appropriately applies to the heirs, executors,
      administrators or legal representatives to whom this award may be transferred
      by
      will or by the laws of descent and distribution, the term “Award Recipient”
shall be deemed to include such person or persons.

     

    10.

    INCONSISTENT
      PROVISIONS

    

    The
      shares of Restricted Stock granted hereby are subject to the terms, conditions,
      restrictions and other provisions of the Plan as fully as if all such provisions
      were set forth in their entirety in this Agreement. If any provision of this
      Agreement conflicts with a provision of the Plan, the Plan provision shall
      control. The Award Recipient acknowledges that a copy of the Plan and a
      prospectus summarizing the Plan was distributed or made available to the Award
      Recipient and that the Award Recipient was advised to review such materials
      prior to entering into this Agreement. The Award Recipient waives the right
      to
      claim that the provisions of the Plan are not binding upon the Award Recipient
      and the Award Recipient’s heirs, executors, administrators, legal
      representatives and successors.

     

    11.

    ATTORNEYS’
      FEES AND EXPENSES

     

    Should
      any party hereto retain counsel for the purpose of enforcing, or preventing
      the
      breach of, any provision hereof, including, but not limited to, the institution
      of any action or proceeding in court to enforce any provision hereof, to enjoin
      a breach of any provision of this Agreement, to obtain specific performance
      of
      any provision of this Agreement, to obtain monetary or liquidated damages for
      failure to perform any provision of this Agreement, or for a declaration of
      such
      parties’ rights or obligations hereunder, or for any other judicial remedy, then
      the prevailing party shall be entitled to be reimbursed by the losing party
      for
      all costs and expenses incurred thereby, including, but not limited to,
      attorneys’ fees (including costs of appeal).

     

    12.

    GOVERNING
      LAW

     

    This
      Agreement shall be governed by and construed in accordance with the laws of
      the
      State of Louisiana.

     

    13.

    SEVERABILITY

    

    If
      any
      term or provision of this Agreement, or the application thereof to any person
      or
      circumstance, shall at any time or to any extent be invalid, illegal or
      unenforceable in any respect as written, the Award Recipient and CenturyTel
      intend for any court construing this Agreement to modify or limit such provision
      so as to render it valid and enforceable to the fullest extent allowed by law.
      Any such provision that is not susceptible of such reformation shall be ignored
      so as to not affect any other term or provision hereof, and the remainder of
      this Agreement, or the application of such term or provision to persons or
      circumstances other than those as to which it is held invalid, illegal or
      unenforceable, shall not be affected thereby and each term and provision of
      this
      Agreement shall be valid and enforced to the fullest extent permitted by
      law.

     

    14.

    ENTIRE
      AGREEMENT; MODIFICATION

     

    The
      Plan
      and this Agreement contain the entire agreement between the parties with respect
      to the subject matter contained herein and may not be modified, except as
      provided in the Plan, as it may be amended from time to time in the manner
      provided therein, or in this Agreement, as it may be amended from time to time
      by a written document signed by each of the parties hereto. Any oral or written
      agreements, representations, warranties, written inducements, or other
      communications with respect to the subject matter contained herein made prior
      to
      the execution of the Agreement shall be void and ineffective for all
      purposes.

    

    IN
      WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
      executed and delivered on the day and year first above written.

    

    
      	 	
              CenturyTel,
                Inc.

            
	 	
              By:
                ____________________________

            
	 	
              Glen
                F. Post, III 

              Chairman
                and Chief Executive Officer

            
	 	
               

              _____________________________

            
	 	
              {insert
                name}

            
	 	
              Optionee

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