Document:

exv10w1

 

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Exhibit 10.1

EMPLOYMENT AGREEMENT

     This Employment Agreement is made as of the 27th day of April 2003, by and
between Margaret A. Bellville, an individual (the “Executive”), and Charter
Communications, Inc., a Delaware corporation (“Charter”), with reference to the
following facts:

     Charter wishes to retain Executive to serve as Executive Vice President and
Chief
Operating Officer of Charter on the terms and conditions set forth herein;

     Executive desires to serve as Executive Vice President and Chief Operating
Officer of Charter on the terms and conditions set forth herein;

     NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth,
the parties hereto hereby agree as follows:

	1.	 	Interpretation.
	 	 	 
	 	 	1.1     Defined Terms.

               “Affiliate” shall mean with respect to any person or entity any other person or
entity who controls, is controlled by or is under common control with such
person or entity.

               “Allen”
shall mean Paul G. Allen.

               “Board” shall mean the Board of Directors of Charter or a committee thereof.

               “Change of Control” means (a) a sale of more than 49.9% of the outstanding
capital stock of Charter in a single or related series of transactions, except
where Allen and
his Affiliates retain effective voting control of Charter, the merger or
consolidation of
Charter with or into any other corporation or entity, other than a wholly-owned
subsidiary of
Charter, except where Allen and his Affiliates have effective voting control of
the surviving
entity, or any other transaction, or event, a result of which is that
Allen
holds less than
50.1% of the voting power of the surviving entity, except where Allen and his
Affiliates
retain effective voting control of Charter, or a sale of all or substantially
all of the assets of
Charter (other than to an entity majority-owned or controlled by
Allen and his
Affiliates);
where, in any such case (b) Executive’s employment with Charter is terminated
or her duties
are materially diminished (it being understood that neither Charter’s failure
to be a “public”
company as such term is commonly understood nor her obligation, if any, to
report to a senior officer of any acquiring company (which has an enterprise value of at
least $15
billion) or its parent following any merger or similar transaction constitute a
material
diminution in Executive’s duties under this Agreement).

 

 

	2.	 	Employment, Duties and Authority.

     Charter hereby agrees to employ the Executive, and the Executive agrees to be
employed, as Executive Vice President and Chief Operating Officer of Charter.
As
Executive Vice President and Chief Operating Officer of Charter, the Executive
shall report
directly to the Chief Executive Officer of Charter, and, subject to the control
and supervision
of the Chief Executive Officer, shall have such duties and responsibilities as
are typically
performed by a chief operating officer and such other executive duties not
inconsistent with
the foregoing as may be assigned to the Executive from time to time. The
Executive shall
devote substantially all of her business time, attention, energies, best
efforts and skills to the
diligent performance of her duties hereunder. Notwithstanding the foregoing, it
is
understood that the Executive may expend a reasonable amount of time for
personal,
charitable, investment and other activities, so long as such activities shall
not interfere in any
material respect with the performance by the Executive of her duties and
responsibilities
hereunder. The Executive shall be based in Charter’s Denver, Colorado office
and shall
devote the bulk of her work time to Charter’s business as conducted throughout
the United
States. Executive shall relocate to Denver, Colorado, not later than January
1,2004.
Executive acknowledges she shall have to travel to Charter’s various business
locations on a
regular basis as part of her responsibilities hereunder.

	3.	 	Term.

     The term of this Agreement shall commence as of April 27,2003 and shall
terminate
on September 1,2007 (the “Initial Term”); provided, however, that the Initial
Term shall be
extended and this Agreement shall automatically be renewed for successive
one-year periods
(“Renewal Terms”) unless (i) this Agreement is terminated in accordance with
the
provisions of Section 7 hereof, or (ii) the Executive or Charter provides
written notice to the
other of such party’s desire not to extend this Agreement at least sixty (60)
days prior to the
expiration of the Initial Term, or any Renewal Term, as the case may be, of
this Agreement.

	4.	 	Compensation and Benefits.

     4.1     Cash Compensation.

               a.     Base Salary. During the Term of this Agreement, Charter shall pay
the Executive an annual base salary at the rate of Six Hundred Twenty-Five
Thousand
Dollars ($625,000), or such higher rate as may from time to time be determined
by the
Board in its discretion, which shall be payable consistent with Charter’s
payroll practices.
Charter shall review Executive’s base salary at least annually but shall have
no obligation to
increase such salary as a result of such review. Should Charter adopt a general
policy
applicable to all of its executives providing for automatic inflation
adjustments in base
salary, Executive shall participate in such program.

               b.     Bonus.
The Executive shall be eligible to receive an annual bonus in an amount to be determined by the Board. Executive’s target annual bonus shall
equal
100% of her base salary for the period in question, 50% of which shall be based
upon the
Board’s assessment in its discretion, of the performance by the Executive of
her duties as
Executive Vice President and Chief Operating Officer during the applicable
period; and

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50% of which shall be determined based upon the formula applicable to Charter’s
operating
group (with such modifications, if any, as the Board deems appropriate to
reflect
Executive’s overall responsibility as chief operating officer) with respect to
each year. With
respect to 2003 only, Executive’s bonus payment shall not be less than
$203,125.
Executive’s bonus for the last year of her employment shall be pro rated for
the portion of
the year in which she is employed, with such bonus, if any, paid at the same
time other
executive bonuses are paid with respect to such year.

     4.2     Benefit Plans. The Executive shall be entitled to participate in any
disability
insurance, pension, or other benefit plan of Charter now existing or hereafter
adopted for the
benefit of employees, executives or senior executives (without duplication,
however) of Charter generally.

     4.3      Vacation. The Executive shall be entitled to not less than one (1) month of
compensated vacation in each fiscal year consistent with Charter’s policy, to
be taken at
times which do not unreasonably interfere with the performance of the
Executive’s duties
hereunder. Unused vacation time shall be treated in accordance with Charter’s
policy.

     4.4     Expenses. The Executive shall be entitled to receive reimbursement for all
reasonable out-of pocket expenses incurred by the Executive in the performance
of her
duties hereunder; provided, that, such expenses are incurred and accounted for
in accordance
with the policies and procedures established by Charter.

     4.5     Other Benefits.

               a.     Charter shall pay Executive a $600 monthly car allowance and shall
pay all business expenses associated with the use of such car by the Executive;

               b.     When Executive relocates to Denver, Colorado, as contemplated
herein, she shall receive relocation benefits consistent with Charter’s
standard policies.

               c.     Charter shall reimburse Executive for up to Five Thousand Dollars
($5,000) in legal, tax and financial planning expenses per year.

               d.     Charter shall reimburse Executive for the periodic dues for Executive
at one country club selected by Executive in either Denver or St. Louis, but
Executive shall
be responsible for any initiation fees or expenditures by Executive at the
Club, other than
expenditures such as green fees and meals incurred in connection with business
entertainment consistent with prevailing Charter policies relative to
reimbursement of such expenses.

	5.	 	Options and Long Term Incentives.

     As a
matter of separate inducement and agreement in connection with her
employment hereunder, and not in lieu of any salary or other compensation,
Executive shall
be entitled to participate in stock option and other long term incentive grants
in such
amounts and on such terms and conditions as are set by the Board. With respect
to the option and/or incentive grant that Charter makes to its
executives in
2003, Executive’s
recommended grant will not be less than any grantee other than the chief
executive officer,

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except to the extent that grants to certain grantees take into account the fact
that such
grantees, unlike Executive, have options whose exercise prices are higher than
the current
trading price of Charter’s common stock. Executive acknowledges, however, that
the actual
size of her grant is made by the Board in its discretion and that its
determination may be
different from the recommended grant.

	6.	 	Indemnification.

     Charter agrees to indemnity and hold harmless to the maximum extent permitted
by
law the Executive from and against any claims, damages, liabilities, losses,
costs or
expenses in connection with or arising out of the performance by the Executive
of her duties
as an officer of Charter or any of its subsidiaries or Affiliates.

	7.	 	Termination. This Agreement may be terminated as follows:

     7.1     By the Executive for Good Reason. The Executive may terminate this
Agreement for Good Reason (as defined below) upon thirty (30) days’ advance
written
notice to Charter. “Good Reason” shall exist if, without the Executive’s
consent: (A) there
is an assignment to the Executive of any duties materially inconsistent with,
or which constitutes a material reduction of the Executive’s position, duties,
responsibilities, status or
authority with Charter (it being understood that Charter’s cessation as a
“public” company
shall not be a material reduction in the Executive’s position, duties,
responsibilities, status or
authority) and Charter shall not have rectified same within the later of (a)
thirty (30) days of
written notice from the Executive or (b) if Charter elects, within thirty (30)
days after receipt
of such written notice, to require that any alleged claim of Good Reason be
submitted to
binding arbitration, then ten days (10) days after any determination adverse to
Charter to
rectify such event (any such arbitration shall be held in Denver or St. Louis,
at Charter’s
option under the local arbitration rules of JAMS or other entity mutually
agreed to and such
arbitration decision shall be made no later than sixty (60) days after
Charter’s election to
require such arbitration); (B) the Executive is required to report, directly or
indirectly to
persons other than the Chief Executive Officer; (C) removal of the Executive
from the
position she holds pursuant hereto, except in connection with the termination
of the
Executive for Cause (as defined below); (D) a Change of Control; or (E)
requiring Executive
to change her principal place of business from the greater Denver, Colorado
area (it being
understood that required travel from such location shall not be a
change in
such place of
business).

     7.2     By Charter for Cause. Charter may terminate this Agreement for Cause
upon thirty (30) days’ advance written notice to the Executive. “Cause” shall
mean (i)
conviction of a felony offense or of a misdemeanor that involves dishonesty or
moral
turpitude; (ii) the refusal to comply with the lawful directives of the Chief
Executive Officer
or the Board, within ten (10) days after written notice of such directive from
the Chief
Executive Officer or the Board; (iii) conduct on the part of the Executive in
the course of her
employment which constitutes gross negligence or willful misconduct which
conduct is not
cured within ten (10) days after written notice thereof from the Chief
Executive Officer or
the Board; (iv) the Executive’s breach of her fiduciary duties to the Company;
(v) the
Executive’s death or her Disability (as defined in Charter’s 2001 Stock
Incentive Plan); or
(vi) the Executive’s possession or use of illegal drugs or excessive use of
alcohol on

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Company premises on work time or at a work related function (other than
non-excessive use
of alcohol served generally in connection with such function). Should Executive
commit or
be alleged to have committed a felony offense or a misdemeanor of the character
specified
in clause (i), Charter may suspend Executive with pay. If Executive is
subsequently
convicted with respect to the matters giving rise to the suspension, Executive
shall
immediately repay all compensation or other amounts paid her hereunder from the
date of
the suspension and any of the Executive Options or Shares which vested after
the date of
suspension shall forthwith be cancelled and if theretofore sold by Executive,
the cash value
thereof paid to Charter.

     7.3     Effect of Termination. In the event of the termination of this Agreement
by
Charter without Cause or by Executive For Good Reason, Charter shall pay to the
Executive
within thirty (30) days after such termination (unless the ground for such
termination is
being contested, in which case the payment shall be made within fifteen (15)
days after
resolution of such dispute) an amount equal to the aggregate base salary due
the Executive
during the remainder of the Term, or Renewal Term, as the case may be, and a
full prorated
bonus for the year in which termination occurs. Upon termination of this
Agreement by
Charter for Cause or by Executive without Good Reason, then the Executive shall
cease to
be entitled to receive any compensation or other payments with respect to
periods after the
date of such termination.

	8.	 	Covenant Not to Compete; Confidentiality.

     8.1     Covenant Not to Compete. The Executive recognizes and acknowledges
that Charter is placing its confidence and trust in the Executive. The
Executive, therefore,
covenants and agrees that as to clauses (a), (b), (c) and (e) hereof during the
greater of: (x)
one year, or (y) the balance of the Initial Term or any Renewal Term, as
applicable (but no
more than one year in the event of termination by the Company without Cause or
by the
Executive for “Good Reason”), Executive’s employment with Charter, and, solely
as to
clause (d), the specific time period provided in such clause, the Executive
shall not, either
directly or indirectly, without the prior written consent of the Board:

               a.     Engage
in or carry on any business or in any way become associated
with any business which is similar to or is in competition with the Business of
Charter. As
used in this Section 8, the term “Business of Charter” shall mean the business
of owning or
operating cable television systems and related businesses.

               b.     Solicit the business of any person or entity, on behalf of herself or any
other person or entity, which is or has been at any time during the term of
this Agreement a
customer or supplier of Charter including, but not limited to, former or
present customers or
suppliers with whom the Executive has had personal contact during, or by reason
of, his
relationship with Charter.

               c.     Be or become an employee, agent, consultant, representative, director
or officer of, or be otherwise in any manner associated with, any person, firm,
corporation,
association or other entity which is engaged in or is carrying on any business
which is in
competition with the Business of Charter;

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               d.     For a period of thirty-six (36) months after termination of the
Executive’s employment for any reason whether by Charter or Executive, solicit
directly or
indirectly for employment or employ (or directly or indirectly cause any entity
in which the
Executive has an interest or is employed by to solicit or employ), any person
employed by
Charter or any of its subsidiaries at the time of such termination; or

               e.     Be or become a shareholder, joint venturer, owner (in whole or in
part), or partner, or be or become associated with or have any proprietary or
financial
interest in or of any firm, corporation, association or other entity which is
engaged in or is
carrying on any business which is similar to or in competition with the
Business of Charter,
provided, however, that nothing contained in this Section 8 shall prohibit the
Executive from
owning less than 2% of the shares of a publicly held corporation engaged in the
Business of
Charter.

                    The Executive hereby recognizes and acknowledges that the existing
Business of Charter extends throughout the United States of America and
therefore agrees
that the covenants not to compete contained in this Section 8 shall be
applicable nationally.
In the event that a court of competent jurisdiction determines that the scope
of the non-compete
provisions set forth in this Section 8 are unenforceable in any respect, then
these
provisions shall be deemed to be modified as necessary so that the scope of the
non-compete
provisions contained herein are nonetheless as broad as possible and yet
enforceable under
applicable law in accordance with their terms.

     8.2     Confidentiality; Non-Disparagement. The Executive will not divulge, and
will not permit or suffer the divulgence of, any confidential knowledge or
confidential
information with respect to the operations or finances of Charter or any of its
Affiliates or
with respect to confidential or secret customer lists, processes, machinery,
plans, devices or
products licensed, manufactured or sold, or services rendered, by Charter or
any of its
Affiliates other than in the regular course of business of Charter or as
required by law;
provided, however, that the Executive has no obligation, express or implied, to
refrain from
using or disclosing to others any such knowledge or information which is or
hereafter shall
become available to the public otherwise than by disclosure by the Executive in
breach of
this Agreement. Executive will not directly or indirectly disparage or
otherwise make
adverse references to Charter or any of its officers, directors, employees or
Affiliates at any
time during or after his employment with Charter.

	9.	 	Notices.

     Any notice or other communication required or permitted to be given hereunder
shall
be in writing and shall be sufficiently given if delivered in person or
transmitted by facsimile
or similar means of recorded electronic communication to the relevant party as
follows:

               a.     in the case of the Executive, to:

	 	 	 
	 	 	
Margaret Bellville
	 	 	
In accordance with the Company’s
	 	 	
then current personnel records.

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with a copy to:
	 	 	 
	 	
Franklin, Weinrib, Rudell & Vassallo, P.C.
	 	
488 Madison Avenue
	 	
New York, NY 10022
	 	
Attn: Michael I. Rudell, Esq.
	 	Telephone: 	
212 935 5500
	 	Facsimile:	
 212 308 0642
	 	E-mail:	
 mrudell@fwrv.com

               B.     in the case of Charter, to:

	 	 	 
	 	
Charter Communications, Inc.
	 	
12405 Powerscourt Drive
	 	
St. Louis, MO 63101
	 	
Attn: Curtis S. Shaw
	 	
     Senior Vice President,
	 	
     General Counsel and Secretary
	 	Telephone:	
 314-543-2308
	 	Facsimile:	
 314-965-8793
	 	E-mail:	
 cshaw@chartercom.com

                    
       with a copy to:

	 	 	 
	 	
Irell & Manella LLP
	 	
1800 Avenue of the Stars, Suite 900
	 	
Los Angeles, CA 90067
	 	
Attn: Alvin Segel
	 	Telephone:	
 310-203-7069
	 	Facsimile:	
 310-203-7199
	 	E-mail: 	
asegel@irell.com

               Any such notice or other communication shall be deemed to have been given
and received on the day on which it is delivered or telecopied (or, if such day
is not a
business day or if the notice or other communication is not telecopied during
business hours,
at the place of receipt, on the next following business day). Any party may
change its
address for the purposes of this Section by giving notice to the other parties
in accordance
with the foregoing.

10.     Assignability and Enforceability. This Agreement shall be binding on and
enforceable by the parties and their respective successors and permitted
assigns. No party
may assign any of its rights or benefits under this Agreement to any person
without the prior
written consent of the other party.

11.     Consultation. The parties shall consult with each other before issuing any
press
release or making any other public announcement with respect to this Agreement
or the
transactions contemplated hereby and, except as required by any applicable law
or
regulatory or stock exchange requirement, neither of them shall issue any such
press release

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or make any such public announcement without the prior written consent of the
other, which
consent shall not be unreasonably withheld or delayed.

12.     Governing
Law. This Agreement shall be governed and construed in accordance
with the laws of the State of Delaware, without giving effect to the principles
of conflicts of
laws thereof.

13.     Counterparts. This Agreement may be executed in counterparts, each of which
shall constitute an original and all of which taken together shall constitute
one and the same
instrument.

14.     Currency. Unless otherwise indicated, all dollar amounts in this Agreement
are
expressed in United States dollars.

15.     Sections and Headings. The division of this Agreement into Sections and the
insertion of headings are for reference purposes only and shall not affect the
interpretation of
this Agreement.

16.     Number and Gender. In this Agreement, words importing the singular number
only shall include the plural and vice versa and words importing gender shall
include all
genders.

17.     Entire Agreement. This Agreement and any agreements or documents referred
to
herein or executed contemporaneously herewith, constitutes the entire agreement
among the
parties with respect to the subject matter hereof and supersedes all prior
agreements
(including without limitation the letter agreement of
December 3, 2002, provided
that the
options granted pursuant thereto remain in full force and effect in accordance
with their
terms), understandings, negotiations and discussions, whether written or oral.
There are no
conditions, covenants, agreements, representations, warranties or other
provisions, express
or implied, collateral, statutory or otherwise, relating to the subject matter
hereof except as
herein provided.

18.     Severability. If any provision of this Agreement is determined by a court
of
competent jurisdiction to be invalid, illegal or unenforceable in any respect,
such
determination shall not impair or affect the validity, legality or
enforceability of the
remaining provisions hereof, and each provision is hereby declared to be
separate, severable
and distinct.

19.     Amendments and Waivers. No amendment or waiver of any provision of this
Agreement shall be binding on any party unless consented to in writing by such
party. No
waiver of any provision of this Agreement shall be construed as a waiver of any
other
provision nor shall any waiver constitute a continuing waiver unless otherwise
expressly
provided. No provision of this Agreement shall be deemed waived by a course of
conduct
unless such waiver is in writing signed by all parties and stating specifically
that it was
intended to modify this Agreement.

20.     Taxes; Withholding. All amounts payable hereunder shall be subject to all
applicable withholding requirements under federal, state and local tax law

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21.     Survival. The provisions of Sections 6, 8.1, 8.2, 11 and 12 shall survive
the
termination of this Agreement.

     IN WITNESS WHEREOF the parties have executed this Agreement.

	 	 	 	 	 
	 	 	CHARTER COMMUNICATIONS, INC.
	 	 	 	 	 
	 	 	
By:
	 	/s/ CARL E. VOGEL
	 	 	 	 	

	 	 	 	 	Authorised Signatory
	 	 	 	 	 
	 	 	/s/ MARGARET A. BELLVILLE
	 	 	

	 	 	MARGARET A. BELLVILLE

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                                                                    Exhibit 10.1

                                                                  EXECUTION COPY

                  AMENDED AND RESTATED 364-DAY CREDIT AGREEMENT

                           DATED AS OF OCTOBER 6, 2003

                  MANPOWER INC., a Wisconsin corporation (the "Borrower"), the
banks, financial institutions and other institutional lenders (collectively, the
"Initial Lenders") party hereto, CITIBANK, N.A., as administrative agent
(together with any successor thereto appointed pursuant to Article VII of the
Existing Credit Agreement referred to below, the "Agent") for the Lenders (as
defined in the Existing Credit Agreement referred to below), hereby agree as
follows:

                             PRELIMINARY STATEMENTS

                  (1)      The Borrower is party to a 364-Day Credit Agreement
dated as of November 29, 2001, amended and restated as of October 7, 2002 (as
amended, supplemented or otherwise modified from time to time to (but not
including) the date of this Amendment and Restatement, the "Existing Credit
Agreement") with the banks, financial institutions and other institutional
lenders party thereto and Citibank, N.A., as Agent for the Lenders and such
other lenders. Capitalized terms not otherwise defined in this Amendment and
Restatement shall have the same meanings as specified in the Existing Credit
Agreement.

                  (2)      The parties to this Amendment and Restatement desire
to amend the Existing Credit Agreement as set forth herein and to restate the
Existing Credit Agreement in its entirety to read as set forth in the Existing
Credit Agreement with the following amendments.

                  (3)      The Borrower has requested that the Lenders agree to
extend credit to it from time to time in an aggregate principal amount of up to
$200,000,000 for general corporate purposes of the Borrower and its Subsidiaries
not otherwise prohibited under the terms of this Agreement. The Lenders have
indicated their willingness to agree to extend credit to the Borrower from time
to time in such amount on the terms and conditions of this Amendment and
Restatement.

                  SECTION 1. Amendments to the Existing Credit Agreement. The
Existing Credit Agreement is, effective as of the date of this Amendment and
Restatement and subject to the satisfaction of the conditions precedent set
forth in Section 2, hereby amended as follows:

                  (a)      Section 1.01 is amended by deleting the definition of
"Termination Date" set forth therein and replacing it with the following new
definition thereof:

                  "Termination Date" means the earlier of (a) October 4, 2004,
         subject to the extension thereof pursuant to Section 2.19 and (b) the
         date of termination in whole of the Commitments pursuant to Section
         2.05 or 6.01; provided, however, that the Termination Date of any
         Lender that is a Non-Consenting Lender to any requested extension
         pursuant to Section 2.19 shall be the Termination Date in effect
         immediately prior to the applicable Extension Date for all purposes of
         this Agreement.

                  (b)      Section 4.01(e) is amended (i) by deleting the date
"December 31, 2001" and substituting therefor the date "December 31, 2002" in
each place such date appears, (ii) by deleting the name "Arthur Andersen, LLP"
and substituting therefor the name "PricewaterhouseCoopers LLP" and

<PAGE>

                                       2

(iii) by deleting the date "June 30, 2002" and substituting therefor the date
"June 30, 2003" in each place such date appears.

                  (c)      Section 8.02 is amended in full to read as follows:

                                    SECTION 8.02. Notices, Etc. (a) All notices
                  and other communications provided for hereunder shall be
                  either (x) in writing (including telecopier, telegraphic or
                  telex communication) and mailed, telecopied, telegraphed,
                  telexed or delivered or (y) as and to the extent set forth in
                  Section 8.02(b) and in the proviso to this Section 8.02(a), if
                  to the Borrower, at its address at 5301 North Ironwood Road,
                  Milwaukee, Wisconsin 53217, Attention: Vice President -
                  Finance; if to any Initial Lender, at its Domestic Lending
                  Office specified opposite its name on Schedule I hereto; if to
                  any other Lender, at its Domestic Lending Office specified in
                  the Assumption Agreement or the Assignment and Acceptance
                  pursuant to which it became a Lender; and if to the Agent, at
                  its address at Two Penns Way, New Castle, Delaware 19720,
                  Attention: Bank Loan Syndications Department; or, as to the
                  Borrower or the Agent, at such other address as shall be
                  designated by such party in a written notice to the other
                  parties and, as to each other party, at such other address as
                  shall be designated by such party in a written notice to the
                  Borrower and the Agent, provided that materials required to be
                  delivered pursuant to Section 5.01(h)(i), (ii) or (iv) shall
                  be delivered to the Agent as specified in Section 8.02(b) or
                  as otherwise specified to the Borrower by the Agent. All such
                  notices and communications shall, when mailed, telecopied,
                  telegraphed or e-mailed, be effective when deposited in the
                  mails, telecopied, delivered to the telegraph company or
                  confirmed by e-mail, respectively, except that notices and
                  communications to the Agent pursuant to Article II, III or VII
                  shall not be effective until received by the Agent. Delivery
                  by telecopier of an executed counterpart of any amendment or
                  waiver of any provision of this Agreement or the Notes or of
                  any Exhibit hereto to be executed and delivered hereunder
                  shall be effective as delivery of a manually executed
                  counterpart thereof.

                                    (b)      So long as Citibank or any of its
                  Affiliates is the Agent, materials required to be delivered
                  pursuant to Section 5.01(h)(i), (ii) and (iv) shall be
                  delivered to the Agent in an electronic medium in a format
                  acceptable to the Agent and the Lenders by e-mail at
                  oploanswebadmin@citigroup.com. The Borrower agrees that the
                  Agent may make such materials, as well as any other written
                  information, documents, instruments and other material
                  relating to the Borrower, any of its Subsidiaries or any other
                  materials or matters relating to this Agreement, the Notes or
                  any of the transactions contemplated hereby (collectively, the
                  "Communications") available to the Lenders by posting such
                  notices on Intralinks, "e-Disclosure", the Agent's internet
                  delivery system that is part of Fixed Income Direct, Global
                  Fixed Income's primary web portal, or a substantially similar
                  electronic system (the "Platform"). The Borrower acknowledges
                  that (i) the distribution of material through an electronic
                  medium is not necessarily secure and that there are
                  confidentiality and other risks associated with such
                  distribution, (ii) the Platform is provided "as is" and "as
                  available" and (iii) neither the Agent nor any of its
                  Affiliates warrants the accuracy, adequacy or completeness of
                  the Communications or the Platform and each expressly
                  disclaims liability for errors or omissions in the
                  Communications or the Platform. No warranty of any kind,
                  express, implied or statutory, including, without limitation,
                  any warranty of merchantability, fitness for a particular
                  purpose, non-infringement of third party rights or freedom
                  from viruses or other code defects, is made by the Agent or
                  any of its Affiliates in connection with the Platform.

<PAGE>

                                       3

                                    (c)      Each Lender agrees that notice to
                  it (as provided in the next sentence) (a "Notice") specifying
                  that any Communications have been posted to the Platform shall
                  constitute effective delivery of such information, documents
                  or other materials to such Lender for purposes of this
                  Agreement; provided that if requested by any Lender the Agent
                  shall deliver a copy of the Communications to such Lender by
                  email or telecopier. Each Lender agrees (i) to notify the
                  Agent in writing of such Lender's e-mail address to which a
                  Notice may be sent by electronic transmission (including by
                  electronic communication) on or before the date such Lender
                  becomes a party to this Agreement (and from time to time
                  thereafter to ensure that the Agent has on record an effective
                  e-mail address for such Lender) and (ii) that any Notice may
                  be sent to such e-mail address.

                  (d)      Section 8.08 is amended by adding to the end thereof
a new sentence to read as follows:

                  Notwithstanding anything herein to the contrary, the Borrower,
         the Agent and each Lender (and each employee, representative or other
         agent of each of the foregoing parties) may disclose to any and all
         Persons, without limitation of any kind, the U.S. tax treatment and tax
         structure of the transactions contemplated hereby and all materials of
         any kind (including opinions or other tax analyses) that are provided
         to any of the foregoing parties relating to such U.S. tax treatment and
         tax structure.

                  (e)      Schedule I is deleted in its entirety and replaced
with Schedule I to this Amendment and Restatement.

                  SECTION 2. Conditions of Effectiveness of this Amendment and
Restatement. This Amendment and Restatement shall become effective as of the
date first above written (the "Restatement Effective Date") when and only if:

                  (a)      The Agent shall have received counterparts of this
         Amendment and Restatement executed by the Borrower and all of the
         Initial Lenders or, as to any of the Initial Lenders, advice
         satisfactory to the Agent that such Initial Lender has executed this
         Amendment and Restatement.

                  (b)      On the Restatement Effective Date, the following
         statements shall be true and the Agent shall have received for the
         account of each Lender a certificate signed by a duly authorized
         officer of the Borrower, dated the Restatement Effective Date, stating
         that:

                           (i)      The representations and warranties contained
                  in Section 4.01 of the Existing Credit Agreement are correct
                  on and as of the Restatement Effective Date, before and after
                  giving effect to the Restatement Effective Date, as though
                  made on and as of such date, and

                           (ii)     No event has occurred and is continuing, or
                  will occur as a result of the occurrence of the Restatement
                  Effective Date, that constitutes a Default.

                  (c)      The Agent shall have received on or before the
         Restatement Effective Date the following, each dated such date and
         (unless otherwise specified below) in form and substance satisfactory
         to the Agent and in sufficient copies for each Initial Lender:

                           (i)      The Revolving Credit Notes to the order of
                  the Lenders to the extent requested by any Lender pursuant to
                  Section 2.16 of the Existing Credit Agreement.

<PAGE>

                                       4

                           (ii)     Certified copies of the resolutions of the
                  Board of Directors of the Borrower approving this Amendment
                  and Restatement and the Notes, and of all documents evidencing
                  other necessary corporate action and governmental approvals,
                  if any, with respect to this Amendment and Restatement and the
                  Notes.

                           (iii)    A certificate of the Secretary or an
                  Assistant Secretary of the Borrower certifying the names and
                  true signatures of the officers of the Borrower authorized to
                  sign this Amendment and Restatement and the Notes and the
                  other documents to be delivered hereunder.

                           (iv)     A favorable opinion of Godfrey & Kahn, S.C.,
                  counsel for the Borrower, in substantially the form of Exhibit
                  E to the Existing Credit Agreement but with such modifications
                  as are required to address the Existing Credit Agreement, as
                  amended by this Amendment and Restatement, in form and
                  substance reasonably satisfactory to the Initial Lenders.

                           (iv)     A favorable opinion of Shearman & Sterling
                  LLP, counsel for the Agent, in form and substance reasonably
                  satisfactory to the Agent.

                  SECTION 3. Reference to and Effect on the Existing Credit
Agreement and the Notes. (a) On and after the effectiveness of this Amendment
and Restatement, each reference in the Existing Credit Agreement to "this
Agreement", "hereunder", "hereof" or words of like import referring to the
Existing Credit Agreement, and each reference in the Notes to "the Credit
Agreement", "thereunder", "thereof" or words of like import referring to the
Existing Credit Agreement, shall mean and be a reference to the Existing Credit
Agreement, as amended by this Amendment and Restatement.

                  (b)      The Existing Credit Agreement and the Notes, as
specifically amended by this Amendment and Restatement, are and shall continue
to be in full force and effect and are hereby in all respects ratified and
confirmed.

                  (c)      Without limiting any of the other provisions of the
Existing Credit Agreement, as amended by this Amendment and Restatement, any
references in the Existing Credit Agreement to the phrases "on the date hereof",
"on the date of this Agreement" or words of similar import shall mean and be a
reference to the date of the Existing Credit Agreement (which is November 29,
2001).

                  SECTION 4. Costs and Expenses. The Borrower agrees to pay on
demand all reasonable out-of-pocket costs and expenses of the Agent in
connection with the preparation, execution, delivery and administration,
modification and amendment of this Amendment and Restatement, the Notes and the
other documents to be delivered hereunder (including, without limitation, the
reasonable and documented fees and expenses of counsel for the Agent with
respect hereto and thereto) in accordance with the terms of Section 8.04 of the
Existing Credit Agreement.

                  SECTION 5. Execution in Counterparts. This Amendment and
Restatement may be executed in any number of counterparts and by different
parties hereto in separate counterparts, each of which when so executed shall be
deemed to be an original and all of which taken together shall constitute one
and the same agreement. Delivery of an executed counterpart of a signature page
to this Amendment and Restatement by telecopier shall be effective as delivery
of a manually executed counterpart of this Amendment and Restatement.

                  SECTION 6. Governing Law. This Amendment and Restatement shall
be governed by, and construed in accordance with, the laws of the State of New
York.

<PAGE>

                                       5

                  IN WITNESS WHEREOF, the parties hereto have caused this
Amendment and Restatement to be executed by their respective officers thereunto
duly authorized, as of the date first above written.

                                       MANPOWER INC.

                                       By /s/ George P. Herrmann
                                          -------------------------------
                                          Title: Vice President, Finance and
                                                 Treasurer

                                       CITIBANK, N.A.,
                                          as Agent

                                       By /s/ Judith Green
                                          -------------------------------
                                          Title: Vice President

                              Administrative Agent

                                       CITIBANK, N.A.

                                       By /s/ Judith Green
                                          -------------------------------
                                          Title: Vice President

                              Co-Syndication Agents

                                       BNP PARIBAS

                                       By /s/ Barbara V. Rivera
                                          -------------------------------
                                          Name: Barbara V. Rivera
                                          Title: Vice President

                                       By /s/ Peter C. Labrie
                                          -------------------------------
                                          Name: Peter C. Labrie
                                          Title: Central Region Manager

                                       WACHOVIA BANK, NATIONAL ASSOCIATION

                                       By /s/ Daniel Evans
                                          -------------------------------
                                          Title: Managing Director

                                 Managing Agents

                                       THE ROYAL BANK OF SCOTLAND PLC

                                       By /s/ Julian Dakin
                                          -------------------------------
                                          Title: Senior Vice President

<PAGE>

                                        6

                               BANK OF TOKYO-MITSUBISHI, LTD.,
                               CHICAGO BRANCH

                               By /s/ Shinichiro Munechika
                                  -------------------------------
                                  Title: Shinichiro Munechika
                                         Deputy General Manager

                               BANK ONE, NA

                               By /s/ Jenny A. Gilpin
                                  -------------------------------
                                  Title: Jenny A. Gilpin
                                         Managing Director

                               M&I MARSHALL AND ILSLEY BANK

                               By /s/ Leo D. Freeman
                                  -------------------------------
                                  Title: Leo D. Freeman, Vice President

                               By /s/ Thomas F. Bickelhaupt
                                  -------------------------------
                                  Title: Thomas F. Bickelhaupt, Vice President

                               SOCIETE GENERALE NEW YORK
                               BRANCH

                               By /s/ Anne-Marie Dumortier
                                  -------------------------------
                                  Anne-Marie Dumortier

                                  Title: Vice President

                               Lenders

                               CREDIT LYONNAIS NEW YORK BRANCH

                               By /s/ Lee E. Greve
                                  -------------------------------
                               Title: Lee E. Greve
                                      First Vice President

                               U.S. BANK NATIONAL ASSOCIATION

                               By /s/ Caroline V. Krider
                                  -------------------------------
                                  Title: Caroline V Krider
                                         Vice President & Senior Lender

                               UNICREDITO ITALIANO S.p.A

                               By /s/ Gianni Franco Papa     /s/ Charles Michael
                                  ----------------------------------------------
                                  Title: Gianni Franco Papa   Charles Michael
                                    SVP & General Manager       Vice President

<PAGE>

                                       7

                               BANCA NAZIONALE DEL LAVORO S.p.A

                               By /s/ Francesco Di Mario
                                  -------------------------------
                                  Title: Francesco Di Mario
                                         Vice President

                               By /s/ Leonardo Valentini
                                  -------------------------------
                                  Title: Leonardo Valentini
                                         First Vice President

<PAGE>

                                                               SCHEDULE I TO THE
                                                       AMENDMENT AND RESTATEMENT

                                   SCHEDULE I
                           APPLICABLE LENDING OFFICES

<TABLE>
<CAPTION>
     Name of Initial Lender         Commitment              Domestic Lending Office            Eurodollar Lending Office
     ----------------------         ----------              -----------------------            -------------------------
<S>                                 <C>                <C>                                   <C>
Banca Nazionale del Lavoro S.p.A.   $10,000,000        Banca Nazionale Del Lavoro S.p.A.     Banca Nazionale Del Lavoro
                                                       New York Branch                       S.p.A. New York Branch
                                                       25 West 51st Street                   25 West 51st Street
                                                       New York, NY 10019                    New York, NY 10019
                                                       Attn: Juan Cortes, VP                 Attn: Juan Cortes, VP
                                                       T: (212) 314-0295                     T: (212) 314-0295
                                                       F: (212) 765-2978                     F: (212) 765-2978
---------------------------------------------------------------------------------------------------------------------------
Bank of Tokyo-Mitsubishi, LTD.,     $15,000,000        Harborside Financial Center           Harborside Financial Center
Chicago Branch                                         500 Plaza III                         500 Plaza III
                                                       Jersey City, NJ 07311                 Jersey City, NJ 07311
                                                       Attn: Jimmy Yu                        Attn: Jimmy Yu
                                                       T: (201) 413-8566                     T: (201) 413-8566
                                                       F: (201) 521-2335                     F: (201) 521-2335
---------------------------------------------------------------------------------------------------------------------------
Bank One, NA                        $15,000,000        1 Bank One Plaza                      1 Bank One Plaza
                                                       Chicago, IL 60670                     Chicago, IL 60670
                                                       Attn: Jenny Gilpin                    Attn: Jenny Gilpin
                                                       T: (312) 732-5867                     T: (312) 732-5867
                                                       F: (312) 732-3888                     F: (312) 732-3888
---------------------------------------------------------------------------------------------------------------------------
BNP Paribas                         $25,000,000        209 S. LaSalle, Suite 500             209 S. LaSalle, Suite 500
                                                       Chicago, IL 60604                     Chicago, IL 60604
                                                       Attn:                                 Attn:
                                                       T: (312) 977-2200                     T: (312) 977-2200
                                                       F: (312) 977-1380                     F: (312) 977-1380
---------------------------------------------------------------------------------------------------------------------------
Citibank, N.A.                      $30,000,000        Two Penns Way                         Two Penns Way
                                                       New Castle, DE 19720                  New Castle, DE 19720
                                                       Attn: David Graber                    Attn: David Graber
                                                       T: (302) 894-6034                     T: (302) 894-6034
                                                       F: (302) 894-6120                     F: (302) 894-6120
---------------------------------------------------------------------------------------------------------------------------
Credit Lyonnais New York Branch     $10,000,000        227 W. Monroe Street,                 227 W. Monroe Street,
                                                       Suite 3800                            Suite 3800
                                                       Chicago, IL 60606                     Chicago, IL 60606
                                                       Attn: Joe Philbin                     Attn: Joe Philbin
                                                       T: (312) 220-7314                     T: (312) 220-7314
                                                       F: (312) 641-0527                     F: (312) 641-0527
---------------------------------------------------------------------------------------------------------------------------
U.S. Bank National Association      $10,000,000        777 E. Wisconsin Avenue               777 E. Wisconsin Avenue
                                                       MK-FC-GLCB                            MK-FC-GLCB
                                                       Milwaukee, WI 53202                   Milwaukee, WI 53202
                                                       Attn: Matt Jaworski                   Attn: Matt Jaworski
                                                       T: (414) 765-4478                     T: (414) 765-4478
                                                       F: (414) 765-5367                     F: (414) 765-5367
---------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

                                       2

<TABLE>
<S>                                <C>                 <C>                                   <C>
M&I Marshall and Ilsley Bank        $15,000,000        770 North Water Street                770 North Water Street
                                                       NW18                                  NW18
                                                       Milwaukee, WI 53202                   Milwaukee, WI 53202
                                                       Attn: Leo D. Freeman or Thomas        Attn: Leo D. Freeman or Thomas
                                                       Bickelhaupt                           Bickelhaupt
                                                       T: (414) 765-7943/7944                T: (414) 765-7943/7944
                                                       F: (414) 765-7625                     F: (414) 765-7625
---------------------------------------------------------------------------------------------------------------------------
The Royal Bank of Scotland plc      $20,000,000        101 Park Avenue, 12th floor           101 Park Avenue, 12th floor
                                                       New York, NY, 10178                   New York, NY, 10178
                                                       Attn: Sheila Shaw                     Attn: Sheila Shaw
                                                       T: 212 401 1406                       T: 212 401 1406
                                                       F: 212 401 1491                       F: 212 401 1491
---------------------------------------------------------------------------------------------------------------------------
Socitete Generale New York Branch   $15,000,000        1221 Avenue of the Americas           1221 Avenue of the Americas
                                                       New York NY 10020                     New York NY 10020
---------------------------------------------------------------------------------------------------------------------------
UniCredito Italiano S.p.A.          $10,000,000        UniCredito Italiano                   UniCredito Italiano
                                                       New York Branch                       New York Branch
                                                       430 Park Avenue                       430 Park Avenue
                                                       New York, NY 10022                    New York, NY 10022
                                                       Attn: Charles Michael                 Attn: Charles Michael
                                                       T: (212) 546-9604                     T: (212) 546-9604
                                                       F: (212) 546-9665                     F: (212) 546-9665
---------------------------------------------------------------------------------------------------------------------------
Wachovia Bank, National             $25,000,000        Wachovia Securities                   Wachovia Securities
Association                                            201 South College Street              201 South College Street
                                                       Charlotte, NC 28288-1183              Charlotte, NC 28288-1183
                                                       Attn: James F. Heatwole               Attn: James F. Heatwole
                                                       T: (704) 715-8099                     T: (704) 715-8099
                                                       F: (704) 383-7611                     F: (704) 383-7611
---------------------------------------------------------------------------------------------------------------------------
TOTAL OF COMMITMENTS               $200,000,000
</TABLE>

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