Document:

exv10w13

 

Exhibit 10.13

INDEMNITY AGREEMENT

     THIS AGREEMENT (this “Agreement”) effective as of July 17, 2006, by and between Windstream
Corporation, a Delaware corporation (the “Corporation”), and the undersigned director or officer of
the Corporation (the “Indemnified Party”).

     Directors and officers of the Corporation are protected in certain respects against
liabilities that they may incur in connection with their services on behalf of the Corporation.
The Certificate of Incorporation of the Corporation (the “Certificate”) eliminates certain
liabilities of the directors (but not liabilities of officers who are not directors) for a breach
of their duty of care to the Corporation. The Certificate also provides for the indemnification of
present and former directors, officers, employees and agents of the Corporation to the fullest
extent expressly authorized by the Delaware General Corporation Law. In addition, the Corporation
maintains a policy of directors’ and officers’ liability insurance (“D & O insurance”) covering
certain liabilities that the directors and officers of the Corporation may incur in the performance
of their services on behalf of the Corporation.

     The Corporation was formed as a result of the transactions contemplated by that certain
Agreement and Plan of Merger, dated as of December 8, 2005, as amended, by and among Alltel
Corporation (“Alltel”), Alltel Holding Corp., a wholly-owned subsidiary of Alltel (“Spinco”), and
Valor Communications Group, Inc. (“Valor”), pursuant to which Spinco merged with and into Valor
with Valor surviving and subsequently changing its name to Windstream Corporation (the “Merger”).
Certain of the directors and officers of the Corporation served as directors and officers of Spinco
prior to completion of the Merger.

     The purpose of this Agreement, and counterparts of this Agreement between the Corporation and
certain other directors and officers, is to enable these directors and officers to continue to
serve the Corporation without undue risk of personal liability by (1) providing for the
continuation of the elimination of liability set forth in the Certificate, the indemnification
contained in the Certificate, and the D&O insurance or comparable insurance and (2) providing these
directors and officers with certain additional protection against liabilities that they may incur
in connection with their service to the Corporation or their past service to Spinco.

     In consideration of the Indemnified Party’s services to the Corporation after the date of this
Agreement and to Spinco prior to the date of this Agreement, as applicable, and of his agreement to
cooperate with the Corporation in defending any claim against the Indemnified Party as set forth in
Section 4, the Corporation and the Indemnified Party agree as follows:

     1. Continuation of Limitation of Liability and Indemnification. Except as
specifically required by law, the Corporation shall not approve, or propose that its stockholders
approve, an amendment to the Certificate that would delete, supplement or amend Article Eight of
the Certificate if the effect of the deletion, supplement or amendment would be to eliminate or
diminish the protection against liabilities afforded to the Indemnified Party thereunder. The
provisions of Article Eight the Certificate are incorporated in this Agreement by reference and
shall be deemed to be a contractual obligation of the Corporation for the benefit of the
Indemnified Party, enforceable by the Indemnified Party against the Corporation in accordance with
their terms.

     2. Maintenance of D&O Insurance. The Corporation shall use its best effort to
maintain, for as long as the Indemnified Party continues to be a director or officer of the
Corporation and thereafter for the period of time specified in Section 7, D&O insurance covering
the Indemnified Party the terms of which (including limits of liability, retention amounts, and
scope of coverage) are at least as favorable to the Indemnified Party as the D&O insurance
maintained by the Corporation at the date of this Agreement. The Corporation will not, however, be
required to purchase and maintain such D&O insurance if it is unavailable or if the Board of
Directors of the Corporation, in its reasonable business judgment, determines that the amount of
the premium is substantially disproportionate to the amount or scope of the coverage provided.

     3. Additional Indemnification of Indemnified Party.

     (a) Subject only to the exclusions set forth in Section 3(b), and without limiting the
indemnification provided in Article Eight of the Certificate and Section 1 of this
Agreement, the Corporation shall indemnify the Indemnified Party against all expense,
liability and loss (including, without

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limitation, attorneys’ fees, judgments, fines, excise taxes or penalties and amounts paid in
settlement) (“Losses”) incurred or suffered by the Indemnified Party in connection with any
threatened, pending or completed action, suit or proceeding whether civil, criminal,
administrative or investigative (including, without limitation, any action by or in the
right of the Corporation or Spinco), to which the Indemnified Party is or was a party or is
threatened to be made a party by reason of the fact that he or she is or was a director or
officer of the Corporation or Spinco, or is or was serving at the request of the Corporation
or Spinco as a director, officer, employee or agent of another corporation or of a
partnership, joint venture, trust or other enterprise, including service with respect to an
employee benefit plan, whether the basis of such proceeding is alleged action in an official
capacity as a director or officer or in any other capacity while serving as a director or
officer; provided, however, that, except as provided in Section 5 of this Agreement with
respect to proceedings to enforce rights to indemnification, the Corporation shall indemnify
the Indemnified Party in connection with a proceeding (or part thereof) initiated by the
Indemnified Party only if such proceeding (or part thereof) was authorized by the Board of
Directors of the Corporation or Spinco. In addition, the Corporation shall pay the expenses
incurred in defending any such proceeding in advance of its final disposition; provided,
however, that, if and to the extent that the Delaware General Corporation Law requires, an
advance of expenses incurred by the Indemnified Party in his or her capacity as a director
or officer (and not in any other capacity in which service was or is rendered by the
Indemnified Party, including, without limitation, service to an employee benefit plan) shall
be made only upon delivery to the Corporation of an undertaking, by or on behalf of the
Indemnified Party, to repay all amounts so advanced if it shall ultimately be determined by
final judicial decision from which there is no further right to appeal that the Indemnified
Party is not entitled to be indemnified for such expenses under this Section 3(a) or
otherwise.

     (b) The indemnification provided by Section 3(a) shall not be paid by the Corporation
with respect to any claim:

     (i) for which payment is actually made to the Indemnified Party under
any D&O insurance purchased and maintained by the Corporation, except to the
extent that the aggregate amount of the Losses for which the Indemnified
Party is otherwise entitled to indemnification under Section 3(a) exceeds
the amount of such payment;

     (ii) based upon or attributable to the Indemnified Party gaining in
fact any personal profit or advantage which is finally adjudged to have been
illegal; provided that, the mere existence of a conflict of interest arising
out of any fiduciary duty of the Indemnified Party, including any fiduciary
duty imposed by the Employee Retirement Income Security Act of 1974, as
amended from time to time, will not, by itself, be deemed to be a personal
profit or advantage for purposes of this clause (ii);

     (iii) for an accounting of profits made from the purchase or sale by
the Indemnified Party of securities of the Corporation within the meaning of
Section 16(b) of the Securities Act of 1934, as amended from time to time,
or similar provisions of any state statutory law or common law as
established by a suit in which final judgment is rendered against the
Indemnified Party; or

     (iv) brought about or materially contributed to by acts of active and
deliberate dishonesty committed by the Indemnified Party with actual
dishonest purpose and intent as established by a suit in which final
judgment is rendered against the Indemnified Party.

     4. Notification and Defense of Claims. The Indemnified Party shall give to the
Corporation, as soon as practicable, written notice of any claim made against the Indemnified Party
for which indemnification will or could be sought under this Agreement. The failure to give such
notice shall not, however, relieve the Corporation of its obligations under this Agreement. In
addition, the Indemnified Party and the Corporation shall reasonably cooperate with each other in
the defense of any such claim. Notice or written requests to the Corporation under this Agreement
shall be directed to the Corporation at 4001 Rodney Parham Road, Little Rock, Arkansas 72212,
Attention: Secretary, or to such other address as the Corporation shall designate in writing to
the Indemnified Party.

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     5. Payment of Losses. The Corporation shall pay any Losses promptly, and in any event
within forty-five days (or, in the case of an advance of expenses, twenty days), upon the written
request of the Indemnified Party. If a determination by the Corporation that the Indemnified Party
is entitled to indemnification pursuant to this Agreement is required, and the Corporation fails to
respond within sixty days to a written request for indemnity, the Corporation shall be deemed to
have approved the request. If the Corporation denies a written request for indemnification or
advance of expenses, in whole or in part, or if payment in full pursuant to such request is not
made within forty-five days (or, in the case of an advance of expenses, twenty days), the right to
indemnification or advances as granted by this Agreement shall be enforceable by the Indemnified
Party in any court of competent jurisdiction. The Indemnified Party’s costs and expenses (including
fees and expenses of counsel) incurred in connection with successfully establishing his or her
right to indemnification, in whole or in part, in any such action shall also be indemnified by the
Corporation. It shall be a defense to any such action (other than an action brought to enforce a
claim for the advance of expenses where the undertaking required pursuant to Section 3(a) of this
Agreement, if any, has been tendered to the Corporation) that the Indemnified Party has not met the
standards of conduct which make it permissible under the Delaware General Corporation Law for the
Corporation to indemnify the Indemnified Party for the amount claimed, but the burden of such
defense shall be on the Corporation. Neither the failure of the Corporation (including its Board of
Directors, independent legal counsel or its stockholders) to have made a determination prior to the
commencement of such action that indemnification of the Indemnified Party is proper in the
circumstances because he or she has met the applicable standard of conduct set forth in the
Delaware General Corporation Law, nor an actual determination by the Corporation (including its
Board of Directors, independent legal counsel or its stockholders) that the Indemnified Party has
not met such applicable standard of conduct, shall be a defense to the action or create a
presumption that the claimant has not met the applicable standard of conduct.

     6. Subrogation. In the event of payment, under this Agreement, the Corporation shall
be subrogated to the extent of such payment to all of the rights of recovery of the Indemnified
Party, who shall execute all documents and take all actions reasonably requested by the Corporation
to implement such right of subrogation.

     7. Continuation of Indemnity. All agreements and obligations of the Corporation
contained herein shall cover services provided by the Indemnified Party following the date of this
Agreement and services provided by the Indemnified Party to Spinco prior to the date of this
Agreement and shall continue during the period the Indemnified Party is subject to any liability
for Losses by reason of the fact that the Indemnified Party is or was at any time a director,
officer, employee or agent of the Corporation or Spinco, or is or was at any time serving at the
request of the Corporation or Spinco in the capacities set forth in Section 3(a) of this Agreement.

     8. Non-Exclusivity. Nothing in this Agreement shall be deemed to diminish or
otherwise restrict the right of the Indemnified Party to indemnification or recovery under the
Certificate, any D&O insurance maintained by the Corporation or otherwise.

     9. Successors and Assigns. This Agreement shall inure to the benefit of and be
binding upon the successors and assigns of the parties hereto; provided, however, that the rights
of the Indemnified Party under this Agreement may be assigned only by will or to such person’s
personal representative or pursuant to the applicable laws of descent and distribution. It is
understood between the parties hereto that the term “Indemnified Party” shall include any such
successors and assigns.

     10. Severability. If any provision or provisions of this Agreement are held to be
unenforceable, the other provisions of this Agreement shall remain in full force and effect.

     11. Governing Law. This Agreement shall be governed by and construed in accordance
with Delaware law.

     12. Supersedes any Prior Indemnity Agreement. This Agreement, as to acts and omissions
after the date of this Agreement, supersedes and replaces any prior Indemnity Agreement to which
the Indemnified Party and the Corporation may be parties.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

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     IN WITNESS WHEREOF, the parties have executed this Agreement effective as of the date first
above written.

	 	 	 	 	 	 	 
	 	 	WINDSTREAM CORPORATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By: 	 	 	 	 
	 

	 	 	 	 	 
	 

	 	Name: 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	INDEMNIFIED PARTY:	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 

4exv10w14

 

Exhibit 10.14

WINDSTREAM CORPORATION

2006 EQUITY INCENTIVE PLAN

RESTRICTED SHARES AGREEMENT

[Designated Executives]

Summary of Restricted Share Grant

     Windstream Corporation, a Delaware corporation (the “Company”), grants to the Grantee named
below, in accordance with the terms of the Windstream Corporation 2006 Equity Incentive Plan (the
“Plan”) and this Restricted Shares Agreement (the “Agreement”), the following number of Restricted
Shares, on the Date of Grant set forth below:

	 	 	 	 	 	 	 
	 

	 	Name of Grantee:	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	Number of Restricted Shares:	 	 	 	 
	 

	 	 	 	 

	 	 
	 

	 	Date of Grant:	 	 	 	 
	 

	 	 	 	 

	 	 

Terms of Agreement

     1. Grant of Restricted Shares. Subject to and upon the terms, conditions, and restrictions set
forth in this Agreement and in the Plan, the Company hereby grants to the Grantee as of the Date of
Grant, the total number of Restricted Shares (the “Restricted Shares”) set forth above. The
Restricted Shares shall be fully paid and nonassessable.

     2. Vesting of Restricted Shares.

          [Either  (a) The Restricted Shares shall vest and become nonforfeitable if the Grantee shall have
remained in the continuous employ of the Company or a Subsidiary through the vesting dates set
forth below with respect to the percentage of Restricted Shares set forth next to such date:

	 	 	 	 	 
	 	 	Percentage of Restricted Shares
	 	 	Vesting on such
	Vesting Date1	 	Vesting Date
	August 1, 2007
	 	 	1/3	 
	August 1, 2008
	 	 	1/3	 
	August 1, 2009
	 	 	1/3	 

          OR (a) The
Restricted Shares shall vest and become nonforfeitable if the Grantee
shall have remained in the continuous employ of the Company or a
Subsidiary for the period beginning on the Date of Grant and ending
on August 1, 2009.]

          (b) Notwithstanding the provisions of Section 2(a), all of the Restricted Shares covered by
this Agreement shall immediately become vested and nonforfeitable if, during the vesting period,
the Grantee (i) dies or becomes permanently disabled (as determined by the Committee) while in the
employ of the Company or a Subsidiary, or (ii) the Grantee’s employment with the Company and its
Subsidiaries is terminated without Cause (as defined in Section 19), or the Grantee terminates his
employment with the Company or a Subsidiary for Good Reason (as defined in Section 19), in each
case within the two year period immediately following a Change in Control.

 

			
	1	 	Note that the one-time grant will cliff vest on August 1, 2009.

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          (c) Notwithstanding anything contained in this Agreement to the contrary, the Committee may,
in its sole discretion, accelerate the time at which the Restricted Shares become vested and
nonforfeitable on such terms and conditions as it deems appropriate.

     3. Forfeiture of Shares. The Restricted Shares that have not yet vested pursuant to Section 2
(including without limitation any cash dividends and non-cash proceeds related to the Restricted
Shares for which the record date occurs on or after the date of forfeiture) shall be forfeited
automatically without further action or notice if the Grantee ceases to be employed by the Company
or a Subsidiary other than as provided in Section 2(b). In the event of a forfeiture of the
Restricted Shares, the stock book entry account representing the Restricted Shares covered by this
Agreement shall be cancelled and all Restricted Shares shall be returned to the Company.

     4. Transferability. The Restricted Shares may not be sold, exchanged, assigned, transferred,
pledged, encumbered or otherwise disposed of by the Grantee, except to the Company, until the
Restricted Shares have become nonforfeitable as provided in Section 2. Any purported transfer or
encumbrance in violation of the provisions of this Section 4 shall be void, and the other party to
any such purported transaction shall not obtain any rights to or interest in such Restricted
Shares. The Committee, in its sole discretion, when and as is permitted by the Plan, may waive the
restrictions on transferability with respect to all or a portion of the Restricted Shares, provided
that any permitted transferee (other than the Company) shall remain subject to all the terms and
conditions applicable to the Restricted Shares prior to such transfer.

     5. Dividend, Voting and Other Rights. Except as otherwise provided herein, from and after the
Date of Grant, the Grantee shall have all of the rights of a stockholder with respect to the
Restricted Shares, including the right to vote the Restricted Shares and receive any cash dividends
that may be paid thereon (which such dividends shall be paid no later than the end of the calendar
year in which the dividends are paid to the holders of the Common Shares or, if later, the 15th day
of the third month following the date the dividends are paid to the holders of the Common Shares);
provided, however, that any additional Common Shares or other securities that the
Grantee may become entitled to receive pursuant to a stock dividend, stock split, combination of
shares, recapitalization, merger, consolidation, separation or reorganization or any other change
in the capital structure of the Company shall be considered Restricted Shares and shall be subject
to the same restrictions as the Restricted Shares covered by this Agreement. Any cash dividends
paid with respect to the Restricted Shares shall be reported on the Grantee’s annual wage and tax
statement (Form W-2) as compensation and shall be subject to all applicable tax withholdings as
provided in Section 10.

     6. Custody of Restricted Shares; Stock Power. Until the Restricted Shares have become vested
and nonforfeitable as provided in Section 2, the Restricted Shares shall be issued in book-entry
only form and shall not be represented by a certificate. The restrictions set forth in this
Agreement shall be reflected on the stock transfer records maintained by or on behalf of the
Company. By execution of this Agreement and effective until the Restricted Shares have become
vested and nonforfeitable as provided in Section 2, the Grantee hereby irrevocably constitute and
appoint Jeffery R. Gardner, Brent Whittington, or John P. Fletcher, or any of them,
attorneys-in-fact to transfer the Restricted Shares on the stock transfer records of the Company
with full power of substitution. The Grantee agrees to take any and all other actions (including
without limitation executing, delivering, performing and filing such other agreements, instruments
and documents) as the Company may deem necessary or appropriate to carry out and give effect to the
provisions of this Agreement.

     7. Continuous Employment. For purposes of this Agreement, the continuous employment of the
Grantee with the Company and its Subsidiaries shall not be deemed to have been interrupted, and the
Grantee shall not be deemed to have ceased to be an employee of the Company and its Subsidiaries,
by reason of the transfer of his employment among the Company and its Subsidiaries or a leave of
absence approved by the Committee.

     8. No Employment Contract. Nothing contained in this Agreement shall confer upon the Grantee
any right with respect to continuance of employment by the Company and its Subsidiaries, nor limit
or affect in any manner the right of the Company and its Subsidiaries to terminate the employment
or adjust the compensation of the Grantee.

     9. Relation to Other Benefits. Any economic or other benefit to the Grantee under this
Agreement or the Plan shall not be taken into account in determining any benefits to which the
Grantee may be entitled under any

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profit-sharing, retirement or other benefit or compensation plan maintained by the Company or
a Subsidiary and shall not affect the amount of any life insurance coverage available to any
beneficiary under any life insurance plan covering employees of the Company or a Subsidiary.

     10. Taxes and Withholding. The Grantee is responsible for any federal, state, local or other
taxes with respect to the Restricted Shares (including the grant, the vesting, the receipt of
Common Shares, the sale of Common Shares and the receipt of dividends, if any). The Company does
not guarantee any particular tax treatment or results in connection with the grant or vesting of
the Restricted Shares or the payment of dividends. If the Company or any Subsidiary is required to
withhold any federal, state, local or other taxes in connection with the delivery or vesting of the
Restricted Shares, the Grantee shall pay the tax or make provisions that are satisfactory to the
Company or such Subsidiary for the payment thereof. The Grantee may elect to satisfy all or any
portion of any such withholding obligation by surrendering to the Company or such Subsidiary a
portion of the Common Shares that become vested and nonforfeitable hereunder, and the Common Shares
so surrendered by the Grantee shall be credited against any such withholding obligation at the
Market Value per Share of such Common Shares on the date of such surrender.

     11. Section 83(b) Election Prohibited. As a condition to receiving this award, the Grantee
acknowledges and agrees that he or she shall not file an election under Section 83(b) of the Code
with respect to all or any portion of the Restricted Shares.

     12. Compliance with Law. The Company shall make reasonable efforts to comply with all
applicable federal and state securities laws and listing requirements of the New York Stock
Exchange or any national securities exchange with respect to the Restricted Shares;
provided, however, notwithstanding any other provision of this Agreement, the
Restricted Shares shall not be delivered or become vested if the delivery or vesting thereof would
result in a violation of any such law or listing requirement.

     13. Amendments. Subject to the terms of the Plan, the Committee may modify this Agreement
upon written notice to the Grantee. Any amendment to the Plan shall be deemed to be an amendment
to this Agreement to the extent that the amendment is applicable hereto. Notwithstanding the
foregoing, no amendment of the Plan or this Agreement shall adversely affect the rights of the
Grantee under this Agreement without the Grantee’s consent.

     14. Severability. In the event that one or more of the provisions of this Agreement shall be
invalidated for any reason by a court of competent jurisdiction, any provision so invalidated shall
be deemed to be separable from the other provisions hereof, and the remaining provisions hereof
shall continue to be valid and fully enforceable.

     15. Relation to Plan. This Agreement is subject to the terms and conditions of the Plan.
This Agreement and the Plan contain the entire agreement and understanding of the parties with
respect to the subject matter contained in this Agreement, and supersede all prior written or oral
communications, representations and negotiations in respect thereto. In the event of any
inconsistency between the provisions of this Agreement and the Plan, the Plan shall govern.
Capitalized terms used herein without definition shall have the meanings assigned to them in the
Plan. The Compensation Committee of the Board acting pursuant to the Plan, as constituted from
time to time, shall, except as expressly provided otherwise herein, have the right to determine any
questions which arise in connection with the grant of the Restricted Shares.

     16. Successors and Assigns. Without limiting Section 4, the provisions of this Agreement
shall inure to the benefit of, and be binding upon, the successors, administrators, heirs, legal
representatives and assigns of the Grantee, and the successors and assigns of the Company.

     17. Governing Law. The interpretation, performance, and enforcement of this Agreement shall
be governed by the laws of the State of Delaware, without giving effect to the principles of
conflict of laws thereof.

     18. Electronic Delivery. The Grantee hereby consents and agrees to electronic delivery of any
documents that the Company may elect to deliver (including, but not limited to, prospectuses,
prospectus supplements, grant or award notifications and agreements, account statements, annual and
quarterly reports, and all other forms of communications) in connection with this and any other
award made or offered under the Plan. The Grantee understands that, unless earlier revoked by the
Grantee by giving written notice to the Secretary of the Company, this consent shall be effective
for the duration of the Agreement. The Grantee also understands that he or

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she shall have the right at any time to request that the Company deliver written copies of any
and all materials referred to above at no charge. The Grantee hereby consents to any and all
procedures the Company has established or may establish for an electronic signature system for
delivery and acceptance of any such documents that the Company may elect to deliver, and agrees
that his or her electronic signature is the same as, and shall have the same force and effect as,
his or her manual signature. The Grantee consents and agrees that any such procedures and delivery
may be effected by a third party engaged by the Company to provide administrative services related
to the Plan.

     19. Definitions. Where used herein, the terms “Cause” and “Good Reason” shall have the
meanings given to such terms in the employment agreement or change in control agreement in effect
for the Grantee immediately prior to his termination of employment, or if none is in effect at that
time, such terms shall be defined as follows:

          (a) “Cause” shall mean the occurrence of any one of the following: (i) the willful failure by
the Grantee substantially to perform the Grantee’s duties with the Company or a Subsidiary, other
than any failure resulting from the Grantee’s incapacity due to physical or mental illness, that
continues for at least 30 days after the Board delivers to the Grantee a written demand for
performance that identifies specifically and in detail the manner in which the Board believes that
the Grantee willfully has failed substantially to perform the Grantee’s duties or (ii) the willful
engaging by the Grantee in misconduct that is demonstrably and materially injurious to the Company
or any Subsidiary, monetarily or otherwise. For purposes of this definition, no act, or failure to
act, on the Grantee’s part shall be deemed “willful” unless done, or omitted to be done, by the
Grantee not in good faith and without reasonable belief that the Grantee’s act, or failure to act,
was in the best interest of the Company and its Subsidiaries.

          (b) “Good Reason” shall mean the occurrence, without the Grantee’s express written consent, of
any one of the following: (i) the assignment to the Grantee of any duties inconsistent with the
Grantee’s status as an executive officer of the Company or of a Subsidiary or a substantial adverse
alteration in the nature or status of the Grantee’s responsibilities from those in effect
immediately prior to the Change in Control; (ii) a reduction by the Company in the Grantee’s annual
base salary to any amount less than the Grantee’s annual base salary as in effect immediately prior
to the Change in Control; (iii) the relocation of the principal executive offices of the Company or
of a Subsidiary, as the case may be, to a location more than 35 miles from the location of such
offices immediately prior to the Change in Control or the Company’s requiring the Grantee to be
based anywhere other than the principal executive offices of the Company or of a Subsidiary as the
case may be, except for required business travel to an extent substantially consistent with the
Grantee’s business travel obligations immediately prior to the Change in Control; (iv) the
failure by the Company to pay to the Grantee any portion of the Grantee’s current compensation, or
to pay to the Grantee any deferred compensation under any deferred compensation program of the
Company, within five days after the date the compensation is due or to pay or reimburse the Grantee
for any expenses incurred by him for required business travel; (v) the failure by the Company to
continue in effect any compensation plan in which the Grantee participates immediately prior to the
Change in Control that is material to the Grantee’s total compensation, including but not limited
to, stock option, restricted stock, stock appreciation right, incentive compensation, bonus, and
other plans, unless an equitable alternative arrangement embodied in an ongoing substitute or
alternative plan has been made, or the failure by the Company to continue the Grantee’s
participation therein (or in a substitute or alternative plan) on a basis not materially less
favorable, both in terms of the amount of compensation provided and the level of the Grantee’s
participation relative to other participants, than existed immediately prior to the Change in
Control; or (vi) the failure by the Company to continue to provide the Grantee with benefits
substantially similar to those enjoyed by the Grantee under any of the Company’s pension,
profit-sharing, life insurance, medical, health and accident, disability, or other employee benefit
plans in which the Grantee was participating immediately prior to the Change in Control; the
failure by the Company to continue to provide the Grantee any material fringe benefit or perquisite
enjoyed by the Grantee immediately prior to the Change in Control; or the failure by the Company to
provide the Grantee with the number of paid vacation days to which the Grantee is entitled in
accordance with the Company’s normal vacation policy in effect immediately prior to the Change in
Control.

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     IN WITNESS WHEREOF, the Company has caused this Agreement to be executed on its behalf by its
duly authorized officer and the Grantee has also executed this Agreement, as of the Date of Grant.

	 	 	 	 	 
	 	WINDSTREAM CORPORATION

 	 
	 	By:	 	 
	 	Name:  	 	 
	 	Title:  	 	 
	 

     The undersigned hereby acknowledges that a copy of the Plan, Plan Summary and Prospectus, and
the Company’s most recent Annual Report and Proxy Statement (the “Prospectus Information”) are
available for viewing on the Company’s intranet site at                     . The Grantee hereby consents to
receiving this Prospectus Information electronically, or, in the alternative, agrees to contact
                     at                      to request a paper copy of the Prospectus Information at no charge. The
Grantee represents that he or she is familiar with the terms and provisions of the Prospectus
Information and hereby accepts the award of Restricted Shares on the terms and conditions set forth
herein and in the Plan.

	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	Grantee	 	 
	 
	 	 	 	 	 	 
	 

	 	Date:	 	 	 	 
	 

	 	 	 

	 	 

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