Document:

exv10w1

Exhibit 10.1

SCHEDULE A

Apache Corporation

2011 Performance Program

AWARD NOTICE

	 	 	 

	Recipient Name:

	 	[Name]
	 
	 	 
	Company:

	 	Apache Corporation
	 
	 	 
	Notice:

	 	A summary of the terms of Conditional Grants of Restricted
Stock Units (“RSUs”) under the 2011 Performance Program is
set out in this notice (the “Award Notice”) but subject
always to the terms of the Apache Corporation 2007 Omnibus
Equity Compensation Plan (the “Plan”) and the 2011
Performance Program Agreement (the “Agreement”). In the
event of any inconsistency between the terms of this Award
Notice, the terms of the Plan and the Agreement, the terms
of the Plan and the Agreement shall prevail.
	 
	 	 
	 

	 	Selected Eligible Persons have been awarded a conditional grant of
Apache Corporation RSUs in accordance with the terms of the Plan and
the Agreement.
	 
	 	 
	 

	 	Details of the RSUs which you are conditionally entitled to receive
is provided to you in this Award Notice and maintained on your
account at netbenefits.fidelity.com
	 
	 	 
	Type of Award:

	 	A conditional award of RSUs based on a target percentage of annual base salary determined immediately
prior to the beginning of the Performance Period derived from job level (the “Conditional Grant”).
	 
	 	 
	Restricted Stock Unit:

	 	A Restricted Stock Unit (“RSU”) as defined in the Plan and meaning the right granted to the Recipient of
the Conditional Grant, as adjusted at the end of the Performance Period, to receive one share of Stock
for each Restricted Stock Unit at the end of the specified Vesting Period.
	 
	 	 
	Stock:

	 	The $0.625 par value common stock of the Company or as otherwise defined in the Plan.
	 
	 	 
	Grant:

	 	A Conditional Grant related to ______ Restricted Stock Units (Target Amount)
	 
	 	 
	Grant Date:

	 	January 7, 2011

 

 

	 	 	 

	Conditions:

	 	Subject always to the terms of the Plan and the Agreement, the Conditional Grant of RSUs shall be made
as of the Grant Date. At the end of the Performance Period, the Committee shall derive and confirm the
number of Conditional Grant RSUs that will actually be awarded as RSUs to the Recipient based upon
measurement of total shareholder return (“TSR”) of Stock as compared to a designated Peer Group during
the Performance Period, provided that the Recipient remains an Eligible Person and employed by the
Company as of the final day of the Performance Period. Once granted at the conclusion of the
Performance Period, such RSUs shall remain subject to a vesting schedule (as set forth below). Once
vested, the Recipient shall be paid the value of his or her RSUs in shares of Stock (net of shares
withheld for applicable tax withholdings) provided that the Recipient remains employed by the Company
during the vesting period including the vesting date.
	 
	 	 
	Performance Measure:

	 	The performance measure for the Conditional Grant is Apache Corporation’s TSR over the Performance
Period compared to the TSR of the Company’s Peer Group over the Performance Period. TSR shall be
determined by dividing (i) the sum of the cumulative amount of a company’s Dividends for the Performance
Period (assuming same-day reinvestment into the company’s common stock on the ex-dividend date) and the
company’s End Price at the end of the Performance Period minus the Begin Price at the beginning of the
Performance Period, by (ii) the Begin Price at the beginning of the Performance Period.
	 
	 	 
	 

	 	Begin Price = the average per share closing price of a share or share equivalent on the applicable stock
exchange for the 60 business (trading) days preceding the beginning of the Performance Period.
	 
	 	 
	 

	 	End Price = the average per share closing price of a share or share equivalent on the applicable stock
exchange for the last 60 business (trading) days of the Performance Period.
	 
	 	 
	 

	 	Dividend = dividends paid throughout the Performance Period.
	 
	 	 
	 

	 	Stock Price = the closing price for the day and will be adjusted for stock splits, spin-offs, mergers
or any other corporate securities transaction affecting stock price, as determined by the Committee.
	 
	 	 
	 

	 	At the end of the Performance Period, the Peer Group companies and the Company will be ranked together
based on their TSR for the Performance Period from the highest TSR being number 1 to the lowest TSR
being the number of Peer Group companies, including the Company, remaining in the group at the end of
the

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	 	Performance Period. Based on the Company’s relative TSR rank amongst
the Peer Group companies for the Performance Period, Recipient will
be issued RSUs as determined by the Company’s percentile rank as
follows:

	 	 	 	 	 
	Rank Against Peers	 	Multiple
of Target Amount (Conditional Number of RSUs  Granted)
	1

	 	2.50	 
	2

	 	2.25	 
	3

	 	2.00	 
	4

	 	1.80	 
	5

	 	1.60	 
	6

	 	1.40	 
	7

	 	1.20	 
	8

	 	1.00	 
	9

	 	0.90	 
	10

	 	0.80	 
	11

	 	0.70	 
	12

	 	0.60	 
	13

	 	0.50	 
	14

	 	0	 
	15

	 	0	 
	16

	 	0	 
	17

	 	0	 
	18

	 	0	 
	19

	 	0	 

	 	 	 

	Performance Period:

	 	The three-year period commencing January 1, 2011 and
ending December 31, 2013.
	 
	 	 
	Peer Group:

	 	For the Performance Period, the following companies
shall comprise the peer group of companies (applicable
ticker symbol included):

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	APC

	 	Anadarko Petroleum

Corporation
	 	EOG
	 	EOG Resources, Inc.
	BP

	 	BP plc
	 	XOM
	 	Exxon Mobil Corporation
	CNQ

	 	Canadian Natural

Resources Ltd.
	 	HES
	 	Hess Corporation
	CHK

	 	Chesapeake Energy

Corporation
	 	MRO
	 	Marathon Oil Corporation
	CVX

	 	Chevron Corporation
	 	MUR
	 	Murphy Oil Corporation
	COP

	 	ConocoPhillips
Company
	 	NBL
	 	Noble Energy Inc.
	DVN

	 	Devon Energy

Corporation
	 	OXY
	 	Occidental Petroleum Corporation
	ECA

	 	EnCana Corporation
	 	RDS-A
	 	Royal Dutch Shell plc
	E

	 	Eni SpA
	 	TLM
	 	Talisman Energy Inc.

	 	 	 

	 

	 	Should consolidation among any Peer Group companies in the
marketplace occur during the Performance Period, the Committee will
determine the appropriate adjustments to accommodate the reduced
number of Peer Group companies for the Performance Period. Should a
Change of Control of the Company occur during the Performance Period,
the Committee will determine the appropriate adjustments to measure
Apache Corporation’s TSR for the Performance Period. The Peer Group
companies for any particular Performance Period shall be determined
at the commencement of such Performance Period.
	 
	 	 
	Vesting:

	 	Except upon a change of control (as described below), death, or total and permanent
disability (as described below), cessation of employment during the Performance Period shall
result in the immediate forfeiture of the entire amount of the Conditional Grant. To the
extent all or a part of a Conditional Grant RSU award is earned as of the end of the
Performance Period, an award equal to the Final Amount shall be made in RSUs to the Recipient
as soon as administratively practical, but not later than March 15 following the end of the
Performance Period. Any such RSUs awarded shall vest in accordance with the following
schedule, provided that the Recipient remains employed as an Eligible Person as of such
vesting date:
	 
	 	 
	 

	 	At the close of the Performance Period — 50% vested.
	 
	 	 
	 

	 	12 months following the close of the Performance Period — an
additional 25% vested.
	 
	 	 
	 

	 	24 months following the close of the Performance Period — an
additional 25% vested.

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	 	Except as described below, cessation of employment during the Vesting
Period will result in the immediate forfeiture of all unvested RSUs.
Vesting is accelerated to 100% upon the Recipient’s death or total
and permanent Disability during the Performance Period or the
subsequent Vesting Period. Upon death or total and permanent
Disability during the Performance Period, the number of RSUs (and
related shares of Stock) granted shall be deemed to be 1.00 times the
Conditional Grant amount of RSUs (the Target Amount). Upon vesting,
the applicable shares of Stock, subject to required tax withholding,
shall be transferred by the Company to the Recipient within thirty
(30) days of the vesting date.
	 
	 	 
	 

	 	Vesting is accelerated to 100% upon a Recipient’s Involuntary
Termination or Voluntary Termination with Cause occurring on or after
a Change of Control during the Vesting Period. Upon vesting, the
applicable shares of Stock, subject to required tax withholding,
shall be transferred by the Company to the Recipient within thirty
(30) days of the vesting date.
	 
	 	 
	 

	 	In the event of the Recipient’s Involuntary Termination or Voluntary
Termination with Cause which occurs (i) on or after a Change of
Control of the Company and (ii) on or prior to the end of the
Performance Period, the Recipient will become 100% fully vested upon
the occurrence of his Involuntary Termination or Voluntary
Termination with Cause on or after the Change of Control in the
number of RSUs determined by applying the multiple under the
Performance Measure determined through the date of the Recipient’s
Involuntary Termination or Voluntary Termination with Cause (based
upon actual TSR results as of such date) to the Target Amount. Upon
vesting, the applicable shares of Stock, subject to required tax
withholding, shall be transferred by the Company to the Recipient
within thirty (30) days of the later of (i) the date of the
Recipient’s Involuntary Termination or Voluntary Termination with
Cause or (ii) the end of the Performance Period. Notwithstanding the
foregoing, if the payment of the Final Amount is subject to Internal
Revenue Code Section 409A, payment will not occur until the earlier
of (1) the date payment would have been due if the Change of Control
had not occurred or (2) the date that the Change of Control
constitutes a “change in the ownership or effective control of the
corporation, or in the ownership of a substantial portion of the
assets of the corporation” within the meaning of Internal Revenue
Code Section 409A(a)(2)(A)(v).

5

 

	 	 	 

	Withholding:

	 	A portion of the Stock subject to each RSU will be withheld
to cover required taxes, and the net number of shares of
Stock will be paid to the Recipient.
	 
	 	 
	Acceptance

	 	Please complete the on-line grant acceptance as promptly as
possible to accept or reject your Conditional Grant. You can
access this through your account at netbenefits.fidelity.com.
By accepting your Conditional Grant, you will have agreed to
the terms and conditions set forth in the Agreement and the
terms and conditions of the Plan. If you do not accept your
grant you will be unable to receive your Conditional Grant or
the related RSUs.

6

 

Apache Corporation

2011 Performance Program Agreement

     This 2011 Performance Program Agreement (the “Agreement”) relating to a conditional grant of
Restricted Stock Units (as defined in the rules of the Apache Corporation 2007 Omnibus Equity
Compensation Plan (the “Plan”) (the “Conditional Grant”), dated as of the Grant Date set forth in
the Notice of Award under the 2011 Performance Program attached as Schedule A hereto (the “Award
Notice”), is made between Apache Corporation (together with its Affiliates, the “Company”) and each
Recipient. The Award Notice is included in and made part of this Agreement.

     In this Agreement and each Award Notice, unless the context otherwise requires, words and
expressions shall have the meanings given to them in the Plan except as herein defined.

Definitions

     “Award Notice” means the separate notice given to each Recipient specifying the Target
Amount for that individual.

     “Base Salary” means, with regard to any Recipient, such Recipient’s annual base
compensation as an employee of the Company determined immediately prior to the beginning of the
Performance Period, without regard to any bonus, pension, profit sharing, stock option, life
insurance or salary continuation plan which the Recipient either receives or is otherwise entitled
to have paid on his or her behalf.

     “Conditional Grant” means the conditional entitlement, evidenced by this Agreement to
receive all or a portion of a Target Amount and Final Amount, subject to and in accordance with the
provisions of this Agreement.

     “Fair Market Value” means the closing price of the Stock as reported on The New York
Stock Exchange, Inc. Composite Transactions Reporting System (“Composite Tape”) for a particular
date or, if the Stock is not so listed at any time, as reported on NASDAQ or on such other exchange
or electronic trading system as, on the date in question, reports the largest number of traded
shares of stock. If there are no Stock transactions on such date, the Fair Market Value shall be
determined as of the immediately preceding date on which there were Stock transactions.

     “Final Amount” means with regard to any Recipient, such number of shares of Restricted
Stock Units (“RSUs”) as specified in each Recipient’s Award Notice, times the applicable multiple
factor determined under the Performance Measure at the end of the Performance Period.

     “Involuntary Termination” means the termination of employment of the Recipient by the
Company or its successor for any reason on or after a Change of Control; provided, that the
termination does not result from an act of the Recipient that (i) constitutes common-law fraud, a
felony, or a gross malfeasance of duty, or (ii) is materially detrimental to the best interests of
the Company or its successor.

     “Payout Amount” means the vested portion of the Final Amount expressed as shares of
Stock underlying the RSUs.

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     “Peer Group” means the group of companies selected by the Committee for purposes of
this Agreement as set forth in the Award Notice. Should consolidation among any Peer Group
companies in the marketplace occur during the Performance Period, the Committee will determine the
appropriate adjustments to accommodate the reduced number of Peer Group companies for the
Performance Period. Should a Change of Control of the Company occur during the Performance Period,
the Committee will determine the appropriate adjustments to measure Apache Corporation’s TSR for
the Performance Period. The Peer Group companies for any particular Performance Period shall be
determined at the commencement of such Performance Period.

     “Performance Measure” means Apache Corporation’s TSR over the Performance Period
compared to the TSR of the Company’s Peer Group over the Performance Period. At the end of the
Performance Period, the Peer Group companies and the Company will be ranked together based on their
TSR for the Performance Period from the highest TSR being number 1 to the lowest TSR being the
number of Peer Group companies, including the Company, remaining in the group at the end of the
Performance Period. Based on the Company’s relative TSR rank amongst the Peer Group companies for
the Performance Period, a Recipient who remains employed as of the last day of the Performance
Period will be issued RSUs at the close of the Performance Period as determined by the Company’s
percentile rank as set forth in the Award Notice (the Final Amount).

     “Performance Period” means the three-year period as specified in the Award Notice.

     “Recipient” means an Eligible Person designated by the Committee at the Grant Date at
the beginning of the Performance Period to receive one or more Conditional Grants under the Plan.
For purposes of this Agreement, the group of Eligible Persons shall include all full-time and
designated part-time employees of the Company who are employed as employees of the Company (as
designated by the Company for payroll purposes) on the date immediately prior to the beginning of
the Performance Period, but excluding Egyptian nationals employed outside of the United States,
employees categorized by the Company (for payroll purposes) as non-exempt support and field staff,
leased employees, interns, or, except for employees who are members of the Hierarchical Union
Neuquén and the Union of Hierarchical Personnel of Private Oil and Gas for Neuquén, Rio Negro and
La Pampa, any employee of the Company who is covered under a collective bargaining agreement,
unless such collective bargaining agreement specifically provides for coverage under the Plan.

     “Target Amount” means, with regard to any Recipient, such number of RSUs as specified
in each Recipient’s Award Notice. Such Target Amount shall be based upon a target percentage of
annual Base Salary determined immediately prior to the beginning of the Performance Period derived
from job level.

     “Total Shareholder Return” or “TSR” is determined by dividing (i) the sum of
the cumulative amount of a company’s dividends for the Performance Period (assuming same-day
reinvestment into the company’s common stock on the ex-dividend date) and the share price of the
company at the end of the Performance Period minus the share price at the beginning of the
Performance Period, by (ii) the share price at the beginning of the Performance Period.

8

 

     “Voluntary Termination with Cause” occurs upon a Recipient’s separation from service
of his own volition and one or more of the following conditions occurs without the Recipient’s
consent on or after a Change of Control:

	 	(a)	 	There is a material diminution in the Recipient’s base compensation, compared
to his rate of base compensation on the date of the Change of Control.
	 
	 	(b)	 	There is a material diminution in the Recipient’s authority, duties or
responsibilities.
	 
	 	(c)	 	There is a material diminution in the authority, duties or responsibilities of
the Recipient’s supervisor, such as a requirement that the Recipient (or his
supervisor) report to a corporate officer or employee instead of reporting directly to
the board of directors.
	 
	 	(d)	 	There is a material diminution in the budget over which the Recipient retains
authority.
	 
	 	(e)	 	There is a material change in the geographic location at which the Recipient
must perform his service, including, for example the assignment of the Recipient to a
regular workplace that is more than 50 miles from his regular workplace on the date of
the Change of Control.

The Recipient must notify the Company of the existence of one or more adverse conditions
specified in clauses (a) through (e) above within 90 days of the initial existence of the
adverse condition. The notice must be provided in writing to Apache Corporation’s Vice
President, Human Resources or his/her delegate. The notice may be provided by personal
delivery or it may be sent by email, inter-office mail, regular mail (whether or not
certified), fax, or any similar method. Apache Corporation’s Vice President, Human
Resources or his/her delegate shall acknowledge receipt of the notice within 5 business
days; the acknowledgement shall be sent to the Recipient by certified mail. Notwithstanding
the foregoing provisions of this definition, if the Company remedies the adverse condition
within 30 days of being notified of the adverse condition, no Voluntary Termination with
Cause shall occur.

Terms

     1. Conditional Grant of RSUs. Subject to the provisions of this Agreement and the
provisions of the Plan and Award Notice, the Company shall conditionally grant to the Recipient,
pursuant to the Plan, a right to receive the Target Amount of RSUs set forth in the Recipient’s
Award Notice. Such Target Amount shall be adjusted to a Final Amount at the end of the Performance
Period based upon the results of the Performance Measure, as determined by the Committee.
Notwithstanding the foregoing, the Target Amount shall be adjusted to a Final Amount of RSUs at the
conclusion of the Performance Period solely for each Recipient who remains employed as of the last
day of the Performance Period. The award of the Final Amount shall give the Recipient the right,
upon vesting, to an equal number of shares of $0.625 par value common stock of the Company
(“Stock”).

9

 

     2. Vesting and Payment of Stock. Subject to the provisions of Section 3, the Payout
Amounts shall be payable in increments strictly in accordance with the following schedule:

     (a) The entitlement to receive the number of shares of Stock pursuant to the RSUs comprising
the Final Amount shall vest fifty percent (50%) on the final date of the Performance Period
provided that the Recipient remains employed as an Eligible Person on such date. Such Stock,
subject to applicable withholding, shall be transferred by the Company to the Recipient within
thirty (30) days of the end of the Performance Period (subject to the Committee’s confirmation) and
not later than March 15 of the year following the year in which the RSUs vest.

     (b) The entitlement to receive the remaining number of shares of Stock pursuant to the RSUs
comprising the Final Amount shall vest and become transferable twenty-five percent (25%) twelve
months from the close of the Performance Period and an additional twenty-five percent (25%)
twenty-four months from the close of the Performance Period, provided that the Recipient remains
employed as an Eligible Person on each such applicable vesting date. Such Stock, subject to
applicable withholding, shall be transferred by the Company to the Recipient within thirty (30)
days of the respective vesting date and not later than March 15 of the year following the year in
which the RSUs vest.

     3. Termination of Employment, Death, or Disability prior to the end of the Performance
Period. Except as set forth below, a cessation of employment with the Company prior to the end
of the Performance Period will result in the Target Amount being forfeited for all purposes.

     (a) If the Recipient dies while employed by the Company, or on the date the Recipient becomes
Disabled (defined for purposes of this Agreement as the Recipient’s total and permanent disability
as determined by the Company), during the Performance Period, the Recipient shall immediately
receive an amount equal to the Target Amount of RSUs and shall become 100% vested in such Target
Amount. Payment shall occur as soon as administratively convenient following the date the
Recipient dies or becomes Disabled, but in no event shall the payment occur later than March 15 of
the calendar year immediately following the calendar year in which the Recipient died or became
Disabled. If the Recipient dies before receiving payment, the payment shall be made to the
Recipient’s estate.

     4. Termination of Employment, Death or Disability on or after the end of the Performance
Period. Except as set forth below, each Conditional Grant shall be subject to the condition
that the Recipient has remained an Eligible Person from the Target award of the Conditional Grant
of RSUs until the applicable vesting date as follows:

     (a) If the Recipient voluntarily leaves the employment of the Company (including retirement),
or if the employment of the Recipient is terminated by the Company for any reason or no reason, any
Final Amounts not previously vested shall thereafter be void and forfeited for all purposes.

     (b) A Recipient shall become 100% fully vested in all Final Amounts on the date the Recipient
dies while employed by the Company, or on the date the Recipient becomes Disabled (defined for
purposes of this Agreement as the Recipient’s total and permanent disability as determined by the
Company) while employed by the Company. Payment shall occur as soon as

10

 

administratively convenient following the date the Recipient dies or becomes Disabled, but in
no event shall the payment occur later than March 15 of the calendar year immediately following the
calendar year in which the Recipient died or became Disabled. If the Recipient dies before
receiving payment, the payment shall be made to the Recipient’s estate.

     5. Change of Control.

     (a) In the event of the Recipient’s Involuntary Termination or Voluntary Termination with
Cause which occurs (i) on or after a Change of Control of the Company and (ii) on or prior to the
end of the Performance Period, the Recipient shall become 100% fully vested upon the occurrence of
his Involuntary Termination or Voluntary Termination with Cause on or after the Change of Control
in the number of RSUs determined by applying the multiple under the Performance Measure determined
through the date of the Recipient’s Involuntary Termination or Voluntary Termination with Cause
(based upon actual TSR results as of such date) to the Target Amount. Subject to Section 12.1(d)
of the Plan, payment shall occur within thirty (30) days of the later of (1) the date of the
Involuntary Termination or Voluntary Termination with Cause of the Recipient following the Change
of Control or (2) the end of the Performance Period.

     (b) In the event of a Recipient’s Involuntary Termination or Voluntary Termination with Cause
occurring on or after a Change of Control of the Company which occurs after the end of the
Performance Period, the Recipient shall become 100% fully vested in the Final Amount of RSUs as of
the date of his Involuntary Termination or Voluntary Termination with Cause. Subject to Section
12.1(d) of the Plan, payment shall occur within thirty (30) days of the Change of Control.

     6. Payment and Tax Withholding. Upon receipt of any entitlement to Stock under this
Agreement, the Recipient shall make appropriate arrangements with the Company to provide for the
amount of minimum tax withholding required by law, including without limitation Sections 3102 and
3402 or any successor section(s) of the Internal Revenue Code and applicable state and local income
and other tax laws. Each payment of the Payout Amount shall be made in shares of Stock, determined
by the Committee, such that the withheld number of shares shall be sufficient to cover the
withholding amount required by this Section (including any amount to cover benefit tax charges
arising thereon). The payment of a Payout Amount shall be based on the Fair Market Value of the
shares of Stock on the applicable date of vesting to which such tax withholding relates. Where
appropriate, shares shall be withheld by the Company to satisfy applicable tax withholding
requirements rather than paid directly to the Recipient.

     7. No Ownership Rights Prior to Issuance of Stock. Neither the Recipient nor any
other person shall become the beneficial owner of the Stock underlying the Conditional Grant, nor
have any rights of a shareholder (including, without limitation, dividend and voting rights) with
respect to any such Stock, unless and until and after such Stock has been actually issued to the
recipient and transferred on the books and records of the Company or its agent in accordance with
the terms of the Plan and this Agreement.

     8. Non-Transferability of Stock. Stock issued pursuant to a Conditional Grant shall
not be transferable otherwise than by will or the laws of descent and distribution, subject to the
conditions and exceptions set forth in Section 14.2 of the Plan.

11

 

     9. No Right to Continued Employment. Neither the RSUs or Stock issued pursuant to a
Conditional Grant nor any terms contained in this Agreement shall confer upon the Recipient any
express or implied right to be retained in the employment or service of the Company for any period,
nor restrict in any way the right of the Company, which right is hereby expressly reserved, to
terminate the Recipient’s employment or service at any time for any reason or no reason. The
Recipient acknowledges and agrees that any right to receive RSUs or Stock pursuant to a Conditional
Grant is earned only by continuing as an employee of the Company at the will of the Company, or
satisfaction of any other applicable terms and conditions contained in the Plan and this Agreement,
and not through the act of being hired, being granted the Conditional Grant, or acquiring RSUs or
Stock pursuant to the Conditional Grant hereunder.

     10. The Plan. In consideration for this Conditional Grant, the Recipient agrees to
comply with the terms of the Plan and this Agreement. This Agreement is subject to all the terms,
provisions and conditions of the Plan, which are incorporated herein by reference, and to such
regulations as may from time to time be adopted by the Committee. Unless defined herein,
capitalized terms are used herein as defined in the Plan. In the event of any conflict between the
provisions of the Plan and this Agreement, the provisions of the Plan shall control, and this
Agreement shall be deemed to be modified accordingly. The Plan and the prospectus describing the
Plan can be found on the Company’s HR intranet and the Plan document can be found on Fidelity’s
website (netbenefits.fidelity.com). A paper copy of the Plan and the prospectus shall be provided
to the recipient upon the Recipient’s written request to the Company at 2000 Post Oak Blvd., Suite
100, Houston, Texas 77056-4400, Attention: Corporate Secretary.

     11. Compliance with Laws and Regulations.

     (a) The Conditional Grant and any obligation of the Company to deliver RSUs or Stock hereunder
shall be subject in all respects to (i) all applicable laws, rules and regulations and (ii) any
registration, qualification, approvals or other requirements imposed by any government or
regulatory agency or body which the Committee shall, in its discretion, determine to be necessary
or applicable. Moreover, the Company shall not deliver any certificates for Stock to the Recipient
or any other person pursuant to this Agreement if doing so would be contrary to applicable law. If
at any time the Company determines, in its discretion, that the listing, registration or
qualification of Stock upon any national securities exchange or under any applicable law, or the
consent or approval of any governmental regulatory body, is necessary or desirable, the Company
shall not be required to deliver any certificates for Stock to the Recipient or any other person
pursuant to this Agreement unless and until such listing, registration, qualification, consent or
approval has been effected or obtained, or otherwise provided for, free of any conditions not
acceptable to the Company.

     (b) It is intended that any Stock received in respect of the Conditional Grant shall have been
registered under the Securities Act of 1933 (“Securities Act”). If the Recipient is an “affiliate”
of the Company, as that term is defined in Rule 144 under the Securities Act (“Rule 144”), the
Recipient may not sell the Stock received except in compliance with Rule 144. Certificates
representing Stock issued to an “affiliate” of the Company may bear a legend setting forth such
restrictions on the disposition or transfer of the Stock as the Company deems appropriate to comply
with Federal and state securities laws.

12

 

     (c) If, at any time, the Stock is not registered under the Securities Act, and/or there is no
current prospectus in effect under the Securities Act with respect to the Stock, the Recipient
shall execute, prior to the delivery of any Stock to the Recipient by the Company pursuant to this
Agreement, an agreement (in such form as the Company may specify) in which the Recipient represents
and warrants that the Recipient is purchasing or acquiring the Stock acquired under this Agreement
for the Recipient’s own account, for investment only and not with a view to the resale or
distribution thereof, and represents and agrees that any subsequent offer for sale or distribution
of any kind of such Stock shall be made only pursuant to either (i) a registration statement on an
appropriate form under the Securities Act, which registration statement has become effective and is
current with regard to the Stock being offered or sold, or (ii) a specific exemption from the
registration requirements of the Securities Act, but in claiming such exemption the Recipient
shall, prior to any offer for sale of such Stock, obtain a prior favorable written opinion, in form
and substance satisfactory to the Company, from counsel for or approved by the Company, as to the
applicability of such exemption thereto.

     12. Notices. All notices by the Recipient or the Recipient’s assignees shall be
addressed to the Administrative Agent, Fidelity, through the Recipient’s account at
netbenefits.fidelity.com, or such other address as the Company may from time to time specify. All
notices to the Recipient shall be addressed to the Recipient at the Recipient’s address in the
Company’s records.

     13. Other Plans. The Recipient acknowledges that any income derived from the
Conditional Grant shall not affect the Recipient’s participation in, or benefits under, any other
benefit plan or other contract or arrangement maintained by the Company or any Affiliate.

     14. Terms of Employment. The Plan is a discretionary plan. The Recipient hereby
acknowledges that neither the plan nor this Agreement forms part of his terms of employment and
nothing in the Plan may be construed as imposing on the Company or any Affiliate a contractual
obligation to offer participation in the Plan to any employee of the Company or any Affiliate. The
Company or any Affiliate is under no obligation to grant further Stock to any Recipient under the
Plan. The Recipient hereby acknowledges that if he ceases to be an employee of the Company or any
Affiliate for any reason or no reason, he shall not be entitled by way of compensation for loss of
office or otherwise howsoever to any sum.

     15. Data Protection. By accepting this Agreement (whether by electronic means or
otherwise), the Recipient hereby consents to the holding and processing of personal data provided
by him to the Company for all purposes necessary for the operation of the Plan. These include, but
are not limited to:

     (a) administering and maintaining Recipient records;

     (b) providing information to any registrars, brokers or third party administrators of the
Plan; and

     (c) providing information to future purchasers of the Company or the business in which the
Recipient works.

*****

13Exhibit 10.1

Exhibit 10.1

VESTING AGREEMENT

This Vesting Agreement (this “Agreement”) is made as of December 29, 2010 between
Communications Infrastructure Investments, LLC, a Delaware limited liability company (the
“Company”); Daniel P. Caruso (the “Executive”); and Bear Equity, LLC (“Bear
Equity”).

RECITALS

WHEREAS, the Executive desires that Bear Equity hold Class B Preferred Units for and on behalf
of the Executive;

WHEREAS, pursuant to this Agreement and the LLC Agreement (as defined below), the Company
hereby issues three hundred and ninety thousand (390,000) Class B Preferred Units (the
“Executive Preferred Units”) to Bear Equity on Executive’s behalf; and

WHEREAS, in connection with the Executive’s services provided to Company or any of its
Subsidiaries and in exchange for services to be rendered, the Company desires to issue said 390,000
Executive Preferred Units to Bear Equity subject to the terms and conditions contained in the LLC
Agreement and subject to the restrictions set forth herein.

NOW, THEREFORE, in consideration of the foregoing and the mutual promises set forth in this
Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties to this Agreement, intending to be legally bound, agree as
follows:

ARTICLE 1

DEFINITIONS

In addition to the other terms defined in this Agreement, the terms below shall have the
following meanings:

“Bear Equity” has the meaning specified in the Preamble to this Agreement.

“Board” means the Board of Managers of the Company.

“Buyer” has the meaning specified in Section 5.1 of this Agreement.

“Capital Securities” means (a) as to any Person that is a corporation, the authorized
shares of such Person’s capital stock, including all classes of common, preferred, voting and
nonvoting capital stock, and, as to any Person that is not a corporation or an individual, the
ownership or membership interests in such Person, including, without limitation, the right to share
in profits and losses, the right to receive distributions of cash and property, and the right to
receive allocations of items of income, gain, loss, deduction and credit and similar items from
such Person, whether or not such interests include voting or similar rights entitling the holder
thereof to exercise control over such Person, and (b) warrants, options or other securities,
evidences of indebtedness or other obligations of a Person that are, directly or indirectly, convertible into or exercisable or exchangeable for securities of or other interest in
such Person as described in clause (a) of this definition.

 

 

 

“Cause” shall mean the Executive’s: (i) dishonesty of a material nature with respect
to the Company (including, but not limited to, theft or embezzlement of the Company’s or any of its
Subsidiaries’ funds or assets); (ii) conviction of, or guilty plea or no contest plea, to a felony
charge or any misdemeanor involving moral turpitude, or the entry of a consent decree with any
governmental body; (iii) noncompliance in any material respect with any laws or regulations,
foreign or domestic, affecting the operation of the Company’s or any of its Subsidiaries’ business,
if such noncompliance is likely to have a material adverse effect on the Company or any of its
Subsidiaries; (iv) violation of any express direction or any rule, regulation or policy established
by the Board that is consistent with the terms of this Agreement, which violation, if reasonably
susceptible to cure, is not cured within ten (10) days of written notice thereof from the Board
(or, where such violation can not feasibly be cured within said 10 day period and Executive has not
cured such violation within a reasonable amount of time after using best efforts), and if such
violation is likely to have a material adverse effect on the Company or any of its Subsidiaries;
(v) material breach of this Agreement, which breach, if reasonably susceptible to cure, is not
cured within ten (10) days of written notice thereof from the Board (or, where such material breach
can not feasibly be cured within said 10 day period and Executive has not cured such material
breach within a reasonable amount of time after using best efforts) or a material breach of the
Executive’s fiduciary duties to the Company or any of its Subsidiaries; or (vi) gross incompetence,
gross neglect, or gross misconduct in the performance of the Executive’s duties.

“Executive Preferred Units” has the meaning specified in the Preamble to this
Agreement.

“Fair Market Value” has the meaning specified in Section 5.2(a) of this Agreement.

“LLC Agreement” means the Second Amended and Restated Limited Liability Company
Agreement, dated as of February 9, 2009, among the Company and the persons named on Schedule A
thereto, as amended from time to time.

“Management Control Acquisition” means a Sale of the Company with respect to which (i)
immediately prior to such Sale of the Company, Dan Caruso is serving the Company as Chief Executive
Officer and (ii) after giving effect to the consummation of the Sale of the Company, Dan Caruso is
offered and accepts the opportunity to serve as the Chief Executive Officer of the combined company
resulting from such Sale of the Company.

“Noncompetition and Nonsolicitation Agreement” means the Noncompetition and
Nonsolicitation Agreement, dated as of December 29, 2010, between the Company and the Executive.

 

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“Nondisclosure and Developments Agreement” means the Nondisclosure and Developments
Agreement, dated as of December 29, 2010, between the Company and the Executive.

“Person” includes any individual, corporation, association, partnership (general or
limited), joint venture, trust, estate, limited liability company, or other legal entity or
organization.

“Public Offering” means an underwritten public offering and sale of any common
ownership interest of the Company or any securities issued with respect to, or in exchange for any
common ownership interest of the Company pursuant to an effective registration statement under the
Securities Act. For purposes of this definition, public sale means any sale of securities
registered pursuant to a registration statement under the Securities Act or pursuant to the
provisions of Rule 144 or Rule 145 adopted under the Securities Act or any substantially equivalent
sale made in compliance with successor provisions of the federal securities laws and regulations as
amended.

“Qualified Public Offering” means a Public Offering after which the Company’s common
equity securities will be traded on a U.S. national securities exchange or on the NASDAQ Stock
Market.

“Related Agreements” means the LLC Agreement, the Noncompetition and Nonsolicitation
Agreement and the Nondisclosure and Developments Agreement.

“Sale of the Company” has the meaning set forth in the LLC Agreement.

“Seller” has the meaning specified in Section 5.1 of this Agreement.

“Seller’s Units” has the meaning specified in Section 5.1 of this Agreement.

“Subsidiary(ies)” means any Person the majority of the Capital Securities of which,
directly, or indirectly through one or more other Persons, (a) the Company has the right to acquire
or (b) is owned or controlled by the Company. As used in this definition, “control,”
including, its correlative meanings, “controlled by” and “under common control
with,” shall mean possession of power to direct or cause the direction of management or
policies (whether through ownership of Capital Securities or partnership or other ownership
interests, by contract or otherwise).

“Termination Date” means the date the Executive’s employment is terminated, whether by
the Executive or the Company or any of its Subsidiaries.

“Unvested Units” means, at any time, Executive Preferred Units that are subject to any
vesting, forfeiture or similar arrangement under this Agreement.

“Vesting Start Date” means October 31, 2010.

 

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“Vesting Requirements” means those vesting requirements described in Section 3 of this
Agreement.

“Vested Units” means, at any time, Executive Preferred Units that are no longer
subject to any vesting, forfeiture or similar arrangement under this Agreement.

ARTICLE 2

ISSUANCE OF EXECUTIVE PREFERRED UNITS

2.1 Issuance of Executive Preferred Units. In consideration of the services to be
performed by Executive for the Company or any of its Subsidiaries, the Company hereby issues to
Bear Equity, and Bear Equity hereby accepts from the Company and on behalf of Executive, the three
hundred and ninety thousand (390,000) Executive Preferred Units upon the terms and conditions set
forth in this Agreement. Bear Equity shall hold such Executive Preferred Units subject to this
Agreement and to the LLC Agreement. Such Executive Preferred Units shall be subject to a
commencement date of February 26, 2010 for purposes of calculating the applicable Priority Return.

ARTICLE 3

VESTING

3.1 General Vesting Terms. Bear Equity shall vest into 8.3333% of the total Executive
Preferred Units every quarter (i.e. every three calendar months) that has elapsed after the Vesting
Start Date such that at the end of three (3) years after the Vesting Start Date Bear Equity shall
be fully vested in said Units, subject to the below terms and Section 3.2 hereof.

(a) In the event the Executive’s employment with the Company or any of its Subsidiaries is
terminated by the Company or any of its Subsidiaries for any reason other than for Cause,
including, but not limited to, by reason of death or disability, then Bear Equity shall immediately
vest into 100% of the total Executive Preferred Units;

(b) In the event the Executive’s employment with the Company or any of its Subsidiaries is
terminated by the Company or any of its Subsidiaries for Cause OR if Executive voluntarily
terminates his employment with the Company or any of its Subsidiaries, then (i) Bear Equity shall
retain any and all Executive Preferred Units vested on or before the Termination Date, and (ii) any
and all Executive Preferred Units that are unvested as of the Termination Date shall be
automatically forfeited back to the Company in accordance with Section 3.3 below.

 

- 4 -

 

(c) In the event the Company elects and/or appoints a Chairman of the Board other than
Executive (without Executive’s approval), then Executive shall have the right (but not the
obligation) to elect one of the following options: (i) if Executive elects to have full and
immediate acceleration of vesting on all unvested Executive Preferred Units, then such accelerated
vesting shall immediately occur and Executive shall remain subject to all of the terms and
conditions of the Noncompetition and Nonsolicitation Agreement through the remainder of that
Noncompetition and Nonsolicitation Agreement’s three (3) year term, or (ii) if Executive elects to not have full and immediate acceleration of vesting under such circumstances, then
Executive shall thereafter not be subject to any of the terms and conditions of said Noncompetition
and Nonsolicitation Agreement (however, if Executive elects this option (ii) AND continues to be
employed by the Company, then Executive will be subject to the terms and conditions of said
Noncompetition and Nonsolicitation Agreement ONLY for as long as Executive’s employment with the
Company continues — after which such restrictions shall immediately expire). If Executive is
going to exercise the above referenced election, the Executive must do so within sixty (60) days of
the date the Chairman is elected and/or appointed. For the avoidance of doubt, the above two
options are not conditioned on or subject to the termination of Executive’s employment with Company
or any of its Subsidiaries.

3.2 Sale of the Company and Qualified Public Offering.

(a) Notwithstanding any other terms and conditions in this Article 3, upon the consummation of
a Sale of the Company, provided that the Executive is employed by the Company or any of its
Subsidiaries on the date of such Sale of the Company, Bear Equity shall immediately vest into 100%
of the total Executive Preferred Units. However, if the Board determines that the Sale of the
Company also constitutes a Management Control Acquisition, then Bear Equity will continue to vest
in the Executive Preferred Units quarterly in accordance with Section 3.1 above and there will not
be an acceleration of vesting under such circumstances.

(b) Notwithstanding any other provisions in this Article 3, upon the consummation of a
Qualified Public Offering by the Company or any of its Subsidiaries, provided that the Executive is
employed by the Company or any of its Subsidiaries on the date of such Qualified Public Offering,
Bear Equity shall immediately vest into 100% of the total Executive Preferred Units.

3.3 Forfeiture Upon Failure to Vest. In the event the Executive’s employment with the
Company or any of its Subsidiaries is terminated in accordance with Section 3.1(b) above, then any
unvested Executive Preferred Units as of the Termination Date shall thereupon be deemed for all
purposes to have been forfeited and to have been surrendered to the Company without the need for
any payment to the Executive or any further action by the Company or any other Person.

ARTICLE 4

RESTRICTIONS ON TRANSFER OF UNITS

Except for any Transfers permitted in the LLC Agreement or other agreement entered into in
connection herewith or therewith, the Executive shall not transfer any Executive Preferred Units.

 

- 5 -

 

ARTICLE 5

REPURCHASE RIGHTS

5.1 Right to Repurchase.

(a) Upon the occurrence of any breach of this Agreement or any Related Agreement by the
Executive or Bear Equity, the Company or its designees (collectively, the “Buyer”) shall
have the right (in addition to exercising any rights or remedies available to the Company at law or
in equity against Executive or Bear Equity) to purchase from Bear Equity and its transferees
(collectively, the “Seller”), free and clear of all liens and encumbrances other than
pledges to secure obligations of the Company or any Subsidiary (“Liens”), any or all Vested
Units held by the Seller (collectively referred to herein as the “Seller’s Units”), for a
purchase price equal to Fair Market Value (defined below) (the “Purchase Price”) and in
accordance with the terms specified below (the “Repurchase Rights”).

(b) The Repurchase Rights shall be exercisable at any time by written notice from the Buyer to
the Seller (the “Purchase Notice”).

5.2 Closing of Sale.

(a) In the event that the Repurchase Right is exercised at the time of a Sale of the Company
or other arms length third party transaction involving a valuation of the assets or securities of
the Company and its Subsidiaries, for purposes of this Agreement, the “Fair Market Value” of each
Executive Preferred Unit shall mean (i) the total consideration that would be received by a holder
of such Executive Preferred Unit in such Sale of the Company or (ii) deemed price per Executive
Preferred Unit based upon the valuation of the assets or securities of the Company and its
Subsidiaries in any other arms length third party transaction. In any other cases, for purposes of
this Agreement, “Fair Market Value” of any Executive Preferred Unit shall mean the total
consideration that would be received by a holder of such Executive Preferred Unit (without any
premium or discount attributable to control, minority interest or lack of liquidity for less than
all Executive Preferred Units) upon the sale, as of the date of the Purchase Notice, of all the
Company’s issued and outstanding Capital Securities in a single transaction or series of related
transactions to a buyer willing to pay the highest purchase price that would be received in a sale
conducted by a nationally recognized investment banking firm, which buyer is under no compulsion to
buy and the holders of such equity securities are under no compulsion to sell, all parties having
reasonable knowledge of all relevant facts, with no minority interest discount being applied and no
other discount being applied for any other reason. The Fair Market Value of the Executive
Preferred Units shall be that which is negotiated by the Company and the Seller. If the Company
and the Seller fail to agree on the Fair market Value within thirty (30) days of the date of the
Purchase Notice, then the Company and the Seller shall attempt to agree upon an appraiser to
determine the Fair Market Value, which such appraiser shall make such determination within thirty
(30) days of the date of such person’s engagement, and such determination shall govern. If the
Company and the Seller do not, within such 10 day period, agree as to a single appraiser, or if the
appraiser appointed as provided above fails to determine such Fair Market Value within thirty (30)
days of the date of such person’s engagement, then each of the Company and the Seller, by notice to
the other, shall appoint one appraiser. If either the Company or the Seller shall fail to appoint such an appraiser within ten (10) days after
the lapse of such 10 or 30 day period, as applicable, then the appraiser appointed by the party
that does so appoint an Appraiser shall make the determination of such Fair Market Value and such
determination shall govern. If two appraisers are appointed and they agree upon such Fair Market
Value, their joint determination shall govern. If said two appraisers fail to reach agreement
within thirty (30) days after the appointment of the last appraiser to be appointed, the two
appraisers selected shall promptly select a nationally recognized investment banking firm to the be
the third appraiser. Such third appraiser shall, within fifteen (15) days following such
appraiser’s appointment, select one of the two other appraisals as constituting Fair Market Value.
All decisions of the appraiser(s) shall be rendered in writing and shall be signed by the
appraiser(s). The Fair Market Value determined as herein provided shall be conclusive, final and
binding on the parties and shall be enforceable in any court having jurisdiction over a proceeding
brought to seek such enforcement. The cost of the Fair Market Value determination shall be borne
by the Company.

 

- 6 -

 

(b) The consummation of any purchase and sale of the Seller’s Units under this Section 5.2
shall, unless otherwise agreed in writing by the parties to such transaction, shall occur on the
thirtieth (30th) day following the date of the Fair Market Value is determined, or such earlier
date as Buyer shall specify. The Purchase Price to be paid for the Seller’s Units to be purchased
and sold pursuant to this Section 5 shall be paid in immediately available funds. Upon tender of
payment of the Purchase Price for the Seller’s Units being purchased as provided above, thereupon
and without any further action on the part of any person being necessary, all right, title and
interest in and to the Seller’s Units being purchased shall thereupon pass to the Buyer. Without
limitation of the foregoing, the parties and their transferees shall execute and deliver such
certificates and other documents and take such further action as the Buyer may reasonably request
in order to further evidence the purchase and sale of the Seller’s Units as contemplated hereby.

ARTICLE 6

MISCELLANEOUS

6.1 Tax Issues.

(a) THE ISSUANCE OF THE EXECUTIVE PREFERRED UNITS TO BEAR EQUITY FOR THE BENEFIT OF THE
EXECUTIVE PURSUANT TO THIS AGREEMENT INVOLVES COMPLEX AND SUBSTANTIAL TAX CONSIDERATIONS,
INCLUDING, WITHOUT LIMITATION, CONSIDERATION OF THE ADVISABILITY OF THE EXECUTIVE AND/OR BEAR
EQUITY MAKING AN ELECTION UNDER SECTION 83(B) OF THE INTERNAL REVENUE CODE. THE EXECUTIVE HAS
CONSULTED EXECUTIVE’S OWN TAX ADVISOR WITH RESPECT TO THE TRANSACTIONS DESCRIBED IN THIS AGREEMENT.
THE COMPANY MAKES NO WARRANTIES OR REPRESENTATIONS WHATSOEVER TO THE EXECUTIVE OR BEAR EQUITY
REGARDING THE TAX CONSEQUENCES RELATED TO THE EXECUTIVE PREFERRED UNITS AND/OR ISSUANCE THEREOF
AND/OR THIS AGREEMENT.

(b) Executive and/or Bear Equity shall be responsible for payment of any and all tax
liabilities of Executive and/or Bear Equity as a result of the issuance and receipt of the
Executive Preferred Units. If the Executive elects, in accordance with Section 83(b) of the Code,
to recognize ordinary income in the year of acquisition of the Executive Preferred Units, the
Company may require at the time of such election an additional payment for withholding tax purposes
based on the difference, if any, between the purchase price for such Executive Preferred Units and
the fair market value of such Executive Preferred Units as of the date of the acquisition of such
Executive Preferred Units by Bear Equity.

 

- 7 -

 

(c) Notwithstanding any other terms and conditions contained in this Section 6, in the event
that it shall be determined that the aggregate payments or distributions by the Company to or for
the benefit of the Executive, whether paid or payable or distributed or distributable pursuant to
the terms of this Agreement or otherwise, but determined without regard to any additional payments
required under this section (the “Payments”), constitute “excess parachute payments” (as
such term is defined under Section 280G of the Internal Revenue Code of 1986, as amended (the
“Code”) or any successor provision, and the regulations promulgated thereunder) that are
subject to the excise tax imposed by Section 4999 of the Code or any successor provision, or any
interest or penalties with respect to such excise tax (the total excise tax, together with any
interest and penalties, are hereinafter collectively referred to as the “Excise Tax”)),
then the Executive shall be entitled to receive an additional payment (a “Gross-Up
Payment”) from the Company in an amount such that after payment by the Executive of all taxes
(including any interest or penalties imposed with respect to such taxes), including, without
limitation, any Federal, state or local income and employment taxes and Excise Tax (and any
interest and penalties imposed with respect to any such taxes) imposed upon the Gross-Up Payment,
the Executive retains an amount of the Gross-Up Payment equal to the Excise Tax imposed upon the
Payments. The Company shall use commercially reasonable efforts to make any Gross-Up Payment
hereunder to the Executive no later than ninety (90) days after the transaction resulting in the
related Payments occurs (or, for any additional Gross-Up Payment due to a redetermination, as soon
as reasonably practicable after such redetermination is made, but in all events no later than
December 31 of the year next following the year in which the related taxes are remitted to the
applicable taxing authority). This Section 6.1(c) shall cease to apply upon the consummation of a
Qualified Public Offering of the common stock of the Company, or any applicable Subsidiary thereof,
or its successor.

6.2 Employment of the Executive. The Executive acknowledges that he or she is an
employee at-will. The Executive agrees that this Agreement does not create an obligation of the
Company or any of its Subsidiaries or any other Person to employ the Executive, nor does it give
rise to any right or expectancy with respect thereto.

6.3 Transferees. Each and every permitted transferee or assignee of Executive
Preferred Units from Bear Equity shall be bound by and subject to all the terms and conditions of
this Agreement and the LLC Agreement on the same basis Bear Equity is bound. So long as this
Agreement is in effect, no Transfer of any Executive Preferred Units shall be effective unless such
Transfer is made pursuant to the terms of the LLC Agreement and the transferee agrees in writing to
be bound by, and subject to, the provisions of this Agreement upon the same terms applicable to the
transferors and to ensure that such transferees’ transferees shall be likewise bound.

 

- 8 -

 

6.4 Effect of Prohibited Transfer. If any Transfer of Executive Preferred Units is
made contrary to the terms of this Agreement or the LLC Agreement, such Transfer shall be null and
void. In addition to any other legal or equitable remedies it may have, the Company may enforce
its rights to specific performance to the extent permitted by law and may exercise such other
equitable remedies then available to it. The Company may refuse for any purpose to recognize any
transferee who receives Executive Preferred Units contrary to the provisions of this Agreement or
the LLC Agreement as a member of the Company.

6.5 Securities Laws Restrictions on Resale; Representations of the Executive and Bear
Equity.

(a) Until registered under the applicable Securities Laws, the Executive Preferred Units will
be of an illiquid nature and will be deemed to be “restricted securities” for purposes of the
Securities Laws. Accordingly, such Executive Preferred Units must be sold in compliance with the
registration requirements of the applicable Securities Laws or an exemption there from. Unless the
Executive Preferred Units have been registered under the applicable Securities Laws, any
certificate evidencing any of the Executive Preferred Units shall bear a legend substantially as
follows:

THE UNITS HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933,
AS AMENDED, OR THE SECURITIES OR BLUE SKY LAWS OF ANY STATE OR OTHER JURISDICTION
AND MAY NOT BE OFFERED OR SOLD UNLESS THEY HAVE BEEN REGISTERED UNDER SUCH ACT AND
THE APPLICABLE SECURITIES OR BLUE SKY LAWS OF ANY SUCH STATE OR OTHER JURISDICTION
OR UNLESS AN EXEMPTION FROM REGISTRATION IS AVAILABLE, AND THEN ONLY IN COMPLIANCE
WITH THE RESTRICTIONS ON TRANSFER SET FORTH IN THE VESTING AGREEMENT WITH EXECUTIVE
AND BEAR EQUITY AND THE COMPANY’S AMENDED AND RESTATED LIMITED LIABILITY COMPANY
AGREEMENT, A COPY OF WHICH MAY BE OBTAINED FROM THE UNDERSIGNED AT ITS PRINCIPAL
EXECUTIVE OFFICES LISTED ABOVE.

(b) Each of the Executive and Bear Equity represents that: (i) the Executive Preferred Units
are being acquired solely for investment and not with a view to, or for sale in connection with,
any distribution of the Executive Preferred Units nor with any present intention of distributing or
selling such Executive Preferred Units; (ii) Bear Equity have made a detailed inquiry concerning
the Company, its business and services, its officers and its personnel; (iii) the officers of the
Company have made available to Bear Equity, or as a result of the Executive’s position with the
Company, Bear Equity has access to, any and all information concerning the Company which Bear
Equity has requested or deems relevant; (iv) each of the Executive and Bear Equity has such
knowledge and experience in financial and business matters that the Executive and Bear Equity are
capable of evaluating the merits and risks of investment in the Executive Preferred Units; (v) each
of the Executive and Bear Equity is an “accredited investor” as defined in Regulation D promulgated
under the Securities Act of 1933, as amended, and (vi) each of the Executive and Bear Equity can
bear a complete loss of the value of the Executive Preferred Units and is able to bear the economic risk of holding such Executive Preferred
Units for an indefinite period.

 

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6.6 Remedies.

(a) The rights and remedies provided by this Agreement are cumulative and the use of any one
right or remedy by any party shall not preclude or waive its right to use any or all other
remedies. Said rights and remedies are given in addition to any other rights the parties may have
at law or in equity.

(b) Without limitation of the foregoing, the parties hereto agree that irreparable harm would
occur in the event that any of the agreements and provisions of this Agreement were not performed
fully by the parties hereto in accordance with their specific terms or were otherwise breached, and
that money damages are an inadequate remedy for breach of the Agreement because of the difficulty
of ascertaining and quantifying the amount of damage that will be suffered by the parties hereto in
the event that this Agreement is not performed in accordance with its term or is otherwise
breached. It is accordingly hereby agreed that the parties hereto shall be entitled to an
injunction or injunctions to restrain, enjoin and prevent breaches of this Agreement, such remedy
being in addition to and not in lieu of, any other rights and remedies to which the other parties
are entitled to at law or in equity.

(c) Except where a time period is otherwise specified, no delay on the part of any party in
the exercise of any right, power, privilege or remedy hereunder shall operate as a waiver thereof,
nor shall any exercise or partial exercise of any such right, power, privilege or remedy preclude
any further exercise thereof or the exercise of any right, power, privilege or remedy.

6.7 Waivers and Amendments. The rights and obligations of the Company and the rights
and obligations of the Executive and/or Bear Equity under this Agreement may be waived (either
generally or in a particular instance, either retroactively or prospectively, and either for a
specified period of time or indefinitely) or amended only with the written consent of the
Executive, Bear Equity and the Company, as approved by the Board.

6.8 Governing Law. This Agreement shall be construed and enforced in accordance with
and governed by the laws of the State of Delaware (without giving effect to any conflicts or choice
of law provisions thereof that would cause the application of the domestic substantive laws of any
other jurisdiction).

6.9 CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL.

(a) EACH OF THE PARTIES HERETO CONSENTS TO THE EXCLUSIVE JURISDICTION OF THE COURTS OF THE
STATE OF DELAWARE AND THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF DELAWARE, AS WELL AS TO
THE JURISDICTION OF ALL COURTS TO WHICH AN APPEAL MAY BE TAKEN FROM SUCH COURTS, FOR THE PURPOSE OF
ANY SUIT, ACTION OR OTHER PROCEEDING ARISING OUT OF, OR IN CONNECTION WITH, THIS AGREEMENT OR ANY
RELATED AGREEMENTS OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.

 

- 10 -

 

(b) EACH PARTY EXPRESSLY WAIVES ANY AND ALL RIGHTS TO BRING ANY SUIT, ACTION OR OTHER
PROCEEDING IN OR BEFORE ANY COURT OR TRIBUNAL OTHER THAN THE COURTS DESCRIBED ABOVE AND COVENANTS
THAT IT SHALL NOT SEEK IN ANY MANNER TO RESOLVE ANY DISPUTE OTHER THAN AS SET FORTH IN THIS SECTION
6.9 OR TO CHALLENGE OR SET ASIDE ANY DECISION, AWARD OR JUDGMENT OBTAINED IN ACCORDANCE WITH THE
PROVISIONS HEREOF.

(c) EACH OF THE PARTIES HERETO HEREBY EXPRESSLY WAIVES ANY AND ALL OBJECTIONS IT MAY HAVE TO
VENUE, INCLUDING, WITHOUT LIMITATION, THE INCONVENIENCE OF SUCH FORUM, IN ANY OF SUCH COURTS. IN
ADDITION, EACH OF THE PARTIES CONSENTS TO THE SERVICE OF PROCESS BY PERSONAL SERVICE OR ANY MANNER
IN WHICH NOTICES MAY BE DELIVERED HEREUNDER IN ACCORDANCE WITH SECTION 6.14 OF THIS AGREEMENT.
EACH OF THE PARTIES HERETO HEREBY VOLUNTARILY AND IRREVOCABLY WAIVES ALL RIGHTS TO A TRIAL BY JURY
IN ANY ACTION OR OTHER PROCEEDING BROUGHT IN CONNECTION WITH OR ANY MATTER ARISING UNDER, OUT OF OR
RELATING TO THIS AGREEMENT, THE RELATED AGREEMENTS OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREBY
OR THEREBY.

6.10 Successors and Assigns. Except as otherwise expressly provided herein, the
provisions hereof shall inure to the benefit of, and be binding upon, the permitted successors,
assigns, heirs, executors and administrators of the parties hereto.

6.11 Adjustments. If there shall be any change in the Capital Securities of the
Company through merger, consolidation, reorganization, recapitalization, equity distribution,
division or multiplication of Units, exchange of Units, or the like (any such event being an
“Adjustment”), all the terms and provisions of this Agreement shall be appropriately
construed to give proportionate effect to any new, additional, or different Units or securities
issued or exchanged for or in respect of the Executive Preferred Units as a result of such
Adjustment.

6.12 Entire Agreement. This Agreement constitutes the full and entire understanding
and agreement of the parties with regard to the subjects hereof and supersedes in their entirety
all other prior agreements, whether oral or written, with respect thereto.

 

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6.13 Notices. All demands, notices, requests, consents and other communications
required or permitted under this Agreement shall be in writing and shall be personally delivered or
sent by facsimile machine (with a confirmation copy sent by one of the other methods authorized in
this Section), reputable commercial overnight delivery service (including FedEx and U.S. Postal
Service overnight delivery service) or, deposited with the U.S. Postal Service mailed first class,
registered or certified mail, postage prepaid, as set forth below:

If to the Company, addressed to:

Communications Infrastructure Investments, LLC

400 Centennial Parkway, Suite 200

Louisville, CO 80027

Attention: General Counsel and the CII Board

with a copy to:

Communications Infrastructure Investments, LLC

400 Centennial Parkway, Suite 200

Louisville, CO 80027

Attention: Chief Financial Officer

If to the Executive or Bear Equity, addressed to:

Bear Equity, LLC and/or Daniel P Caruso

 ___________________________________________________ 

 ___________________________________________________ 

Attention: Daniel P Caruso

Notices shall be deemed given upon the earlier to occur of (i) receipt by the party to whom such
notice is directed; (ii) if sent by facsimile machine, on the day (other than a Saturday, Sunday or
legal holiday in the jurisdiction to which such notice is directed) such notice is sent if sent (as
evidenced by the facsimile confirmed receipt) prior to 5:00 p.m. Eastern Time and, if sent after
5:00 p.m. Eastern Time, on the day (other than a Saturday, Sunday or legal holiday in the
jurisdiction to which such notice is directed) after which such notice is sent; (iii) on the first
business day (other than a Saturday, Sunday or legal holiday in the jurisdiction to which such
notice is directed) following the day the same is deposited with the commercial courier if sent by
commercial overnight delivery service; or (iv) the fifth day (other than a Saturday, Sunday or
legal holiday in the jurisdiction to which such notice is directed) following deposit thereof with
the U.S. Postal Service as aforesaid. Each party, by notice duly given in accordance therewith may
specify a different address for the giving of any notice hereunder.

6.14 No Third Party Beneficiaries. There are no third party beneficiaries of this
Agreement.

6.15 Duration. These restrictions on the Units that are set forth in this Agreement
shall terminate upon the Company’s Qualified Public Offering (it being understood that the
termination of restrictions on the Executive Preferred Units shall not result in the forfeiture of
any Executive Preferred Units either vested or unvested then held by Executive and/or Bear Equity
at the time of the Company’s Qualified Public Offering). 

6.16 Securities Act Exemption. The Company and the Executive agree that this
Agreement constitutes “a written compensatory benefit plan” or “a written compensation contract” of
the Executive within the meaning of Rule 701 under the U.S. Securities Act of 1933.

 

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6.17 Severability; Titles and Subtitles; Gender; Singular and Plural;
Counterparts.

(a) In case any provision of this Agreement shall be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions of this Agreement shall not in
any way be affected or impaired thereby.

(b) The titles of the sections and subsections of this Agreement are for convenience of
reference only and are not to be considered in construing this Agreement.

(c) The use of any gender in this Agreement shall be deemed to include the other genders, and
the use of the singular in this Agreement shall be deemed to include the plural (and vice versa),
wherever appropriate.

(d) This Agreement may be executed in any number of counterparts, and by the different parties
hereto on separate counterparts hereof, each of which shall be an original, and all of which
together shall constitute one instrument.

(e) Counterparts of this Agreement (or applicable signature pages hereof) that are manually
signed and delivered by facsimile transmission shall be deemed to constitute signed original
counterparts hereof and shall bind the parties signing and delivering in such manner.

[Signature page follows]

 

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IN WITNESS WHEREOF, the Company, the Executive and Bear Equity have executed this Agreement as
of the day and year first written above.

	 	 	 	 	 
	 	COMPANY:

Communications Infrastructure Investments, LLC

 	 
	 	By:  	/s/ Scott E. Beer
 	 
	 	 	Name:  	Scott E. Beer 	 
	 	 	Title:  	General Counsel and Secretary 	 
	 
	 	EXECUTIVE:

 	 
	 	/s/ Daniel P. Caruso
 	 
	 	(signature) 	 
	 	Daniel P. Caruso
 	 
	 
	 	BEAR EQUITY:

Bear Equity, LLC

 	 
	 	By:  	/s/ Daniel P. Caruso
 	 
	 	 	Daniel P. Caruso 	 
	 	 	Manager

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