Document:

exv10w3

 

Exhibit 10.3

AMENDMENT ONE

EMPLOYMENT AGREEMENT

          THIS AMENDMENT ONE TO THE EMPLOYMENT AGREEMENT (“Amendment One”), is entered into and
effective as of January _, 2006 (the “Effective Date”), by and between VALOR COMMUNICATIONS
GROUP, INC., a Delaware corporation (the “Company”), and Jerry E. Vaughn (the
“Employee”).

W I T N E S S E T H:

     WHEREAS, the Company and the Employee entered into a Employment Agreement dated October 1,
2005; and,

     WHEREAS, on December 8, 2005, the Company, Alltel Corporation and Alltel Holding Corp. entered
into an Agreement and Plan of Merger (“Transaction”); and,

          WHEREAS, the Company and the Employee desire to amend certain provisions of the Employment
Agreement in anticipation of the closing of the Transaction.

     NOW, THEREFORE, for and in consideration of the premises hereof and the mutual covenants
contained herein, the Company and the Employee hereby covenant and agree to amend the Employment
Agreement as follows:

     1. Amend section 7(a) to delete the definition of “Good Reason” in its entirety, and replace
it with the following:

As used herein, the term “Good Reason” means (i) any material breach by the
Company or any of its affiliates of their obligations under the Employment
Agreement, (ii) any substantial diminution of the Participant’s scope of
responsibilities as an officer of the Company, as set forth in the Employment
Agreement and the Company’s Certificate of Incorporation and Bylaws, diminution of
title or reduction in compensation, in each case, which continues unremedied for a
period of fifteen (15) days after written notice thereof to the Company, or (iii)
upon demand by the Company that the Participant relocate from his current
principal office location to a location more than 50 miles from such current
principal office location.

 

 

     2. All other terms and conditions of the Employment Agreement shall remain in full force and
effect.

          IN WITNESS WHEREOF, the Company and the Employee have duly executed and delivered this
Amendment One to the Employment Agreement as of the day and year first above written.

	 	 	 	 	 
	 	 	VALOR COMMUNICATIONS GROUP, INC.
	 
	 	 	 	 
	 

	 	By:	 	/s/ John J. Mueller
	 

	 	 	 	 
	 	 	Name: John J. Mueller
	 	 	Title: President and Chief Executive Officer
	 
	 
	 	/s/ Jerry E. Vaughn
	 	 	 
	 	 	Employeeexv10w4

 

Exhibit 10.4

AMENDMENT ONE

EMPLOYMENT AGREEMENT

          THIS AMENDMENT ONE TO THE EMPLOYMENT AGREEMENT (“Amendment One”), is entered into and
effective as of January _, 2006 (the “Effective Date”), by and between VALOR COMMUNICATIONS
GROUP, INC., a Delaware corporation (the “Company”), and William M. Ojile, Jr. (the
“Employee”).

W I T N E S S E T H:

     WHEREAS, the Company and the Employee entered into a Employment Agreement dated February 14,
2005; and,

     WHEREAS, on December 8, 2005, the Company, Alltel Corporation and Alltel Holding Corp. entered
into an Agreement and Plan of Merger (“Transaction”); and,

          WHEREAS, the Company and the Employee desire to amend certain provisions of the Employment
Agreement in anticipation of the closing of the Transaction.

     NOW, THEREFORE, for and in consideration of the premises hereof and the mutual covenants
contained herein, the Company and the Employee hereby covenant and agree to amend the Employment
Agreement as follows:

     1. Amend section 4(b)(ii)(C) to delete “on January 1, 2007,” and replace it with “upon the
earlier of the close of the Transaction or January 1, 2007”.

     2. Amend section 7(a) to delete the definition of “Good Reason” in its entirety, and replace
it with the following:

As used herein, the term “Good Reason” means (i) any material breach by the
Company or any of its affiliates of their obligations under the Employment
Agreement, (ii) any substantial diminution of the Participant’s scope of
responsibilities as an officer of the Company, as set forth in the Employment
Agreement and the Company’s Certificate of Incorporation and Bylaws, diminution of
title or reduction in compensation, in each case, which continues unremedied for a
period of fifteen (15) days after written notice thereof to the Company, or (iii)
upon demand by the Company that the Participant relocate from his current
principal office location to a location more than 50 miles from such current
principal office location.

 

 

     3. Amend section 7(b)(i) to delete “eighteen (18)” and replace it with “twenty-four (24)”.

     4. Amend section 7(b)(i) to delete “with respect to such fiscal year if the Company’s plan for
such fiscal year is achieved, a pro rata portion of any Annual Bonus payable with respect to such
fiscal year corresponding to the portion of such fiscal year during which the Employee was employed
by the Company (such pro rata Annual Bonus to be payable within thirty days after the close of such
fiscal year),” and replace it with the following:

two-times target Annual Bonus payment prescribed in section 4(b) of the Employment
Agreement, less any pro-rata 2006 Annual Bonus payment received upon close of the
Transaction. Such amount is payable in a lump sum upon termination of employment
and close of the Transaction.

     5. Amend section 7(b)(ii) to delete “eighteen (18)” and replace it with “twenty-four (24)”.

     6. All other terms and conditions of the Employment Agreement shall remain in full force and
effect.

          IN WITNESS WHEREOF, the Company and the Employee have duly executed and delivered this
Amendment One to the Employment Agreement as of the day and year first above written.

	 	 	 	 	 
	 	 	VALOR COMMUNICATIONS GROUP, INC.
	 
	 	 	 	 
	 

	 	By:	 	/s/ John J. Mueller
	 

	 	 	 	 
	 	 	Name: John J. Mueller
	 	 	Title: President and Chief Executive Officer
	 
	 
	 	/s/ William M. Ojile, Jr.
	 	 	 
	 	 	Employeeexv10w5

 

Exhibit 10.5

AMENDMENT ONE

EMPLOYMENT AGREEMENT

          THIS AMENDMENT ONE TO THE EMPLOYMENT AGREEMENT (“Amendment One”), is entered into and
effective as of January _, 2006 (the “Effective Date”), by and between VALOR COMMUNICATIONS
GROUP, INC., a Delaware corporation (the “Company”), and Grant Raney (the
“Employee”).

W I T N E S S E T H:

     WHEREAS, the Company and the Employee entered into a Employment Agreement dated February 14,
2005; and,

     WHEREAS, on December 8, 2005, the Company, Alltel Corporation and Alltel Holding Corp. entered
into an Agreement and Plan of Merger (“Transaction”); and,

          WHEREAS, the Company and the Employee desire to amend certain provisions of the Employment
Agreement in anticipation of the closing of the Transaction.

     NOW, THEREFORE, for and in consideration of the premises hereof and the mutual covenants
contained herein, the Company and the Employee hereby covenant and agree to amend the Employment
Agreement as follows:

     1. Amend section 4(b)(ii)(C) to delete “on January 1, 2007,” and replace it with “upon the
earlier of the close of the Transaction or January 1, 2007”.

     2. Amend section 7(a) to delete the definition of “Good Reason” in its entirety, and replace
it with the following:

As used herein, the term “Good Reason” means (i) any material breach by the
Company or any of its affiliates of their obligations under the Employment
Agreement, (ii) any substantial diminution of the Participant’s scope of
responsibilities as an officer of the Company, as set forth in the Employment
Agreement and the Company’s Certificate of Incorporation and Bylaws, diminution of
title or reduction in compensation, in each case, which continues unremedied for a
period of fifteen (15) days after written notice thereof to the Company, or (iii)
upon demand by the Company that the Participant relocate from his current
principal office location to a location more than 50 miles from such current
principal office location.

 

 

     3. Amend section 7(b)(i) to delete “eighteen (18)” and replace it with “twenty-four (24)”.

     4. Amend section 7(b)(i) to delete “with respect to such fiscal year if the Company’s plan for
such fiscal year is achieved, a pro rata portion of any Annual Bonus payable with respect to such
fiscal year corresponding to the portion of such fiscal year during which the Employee was employed
by the Company (such pro rata Annual Bonus to be payable within thirty days after the close of such
fiscal year),” and replace it with the following:

two-times target Annual Bonus payment prescribed in section 4(b) of the Employment
Agreement, less any pro-rata 2006 Annual Bonus payment received upon close of the
Transaction. Such amount is payable in a lump sum upon termination of employment
and close of the Transaction.

     5. Amend section 7(b)(ii) to delete “eighteen (18)” and replace it with “twenty-four (24)”.

     6. All other terms and conditions of the Employment Agreement shall remain in full force and
effect.

          IN WITNESS WHEREOF, the Company and the Employee have duly executed and delivered this
Amendment One to the Employment Agreement as of the day and year first above written.

	 	 	 	 	 
	 	 	VALOR COMMUNICATIONS GROUP, INC.
	 
	 	 	 	 
	 

	 	By:	 	/s/ John J. Mueller
	 

	 	 	 	 
	 	 	Name: John J. Mueller
	 	 	Title: President and Chief Executive Officer
	 
	 	 	 	 	 	 
	 
	 	/s/
Grant Raney 	 	 
	 	 	 
	 	 	Employeeexv10w6

 

Exhibit 10.6

AMENDMENT ONE

EMPLOYMENT AGREEMENT

          THIS AMENDMENT ONE TO THE EMPLOYMENT AGREEMENT (“Amendment One”), is entered into and
effective as of January _, 2006 (the “Effective Date”), by and between VALOR COMMUNICATIONS
GROUP, INC., a Delaware corporation (the “Company”), and Cynthia B. Nash (the
“Employee”).

W I T N E S S E T H:

     WHEREAS, the Company and the Employee entered into a Employment Agreement dated February 14,
2005; and,

     WHEREAS, on December 8, 2005, the Company, Alltel Corporation and Alltel Holding Corp. entered
into an Agreement and Plan of Merger (“Transaction”); and,

          WHEREAS, the Company and the Employee desire to amend certain provisions of the Employment
Agreement in anticipation of the closing of the Transaction.

     NOW, THEREFORE, for and in consideration of the premises hereof and the mutual covenants
contained herein, the Company and the Employee hereby covenant and agree to amend the Employment
Agreement as follows:

     1. Amend section 4(a) to delete “One Hundred Seventy Five Thousand Dollars ($175,000),” and
replace it with “Two Hundred Ten Thousand Dollars ($210,000)”.

     2. Amend section 4(b)(ii)(C) to delete “on January 1, 2007,” and replace it with “upon the
earlier of the close of the Transaction or January 1, 2007”.

     3. Amend section 7(a) to delete the definition of “Good Reason” in its entirety, and replace
it with the following:

As used herein, the term “Good Reason” means (i) any material breach by the
Company or any of its affiliates of their obligations under the Employment
Agreement, (ii) any substantial diminution of the Participant’s scope of
responsibilities as an officer of the Company, as set forth in the Employment
Agreement and the Company’s Certificate of Incorporation and Bylaws, diminution of
title or reduction in compensation, in each case, which continues unremedied for a
period of fifteen (15) days after written notice thereof to the Company, or (iii)
upon demand by the Company that the Participant relocate from his current
principal office location to a location more than 50 miles from such current
principal office location.

 

 

     4. Amend section 7(b)(i) to delete “eighteen (18)” and replace it with “twenty-four (24)”.

     5. Amend section 7(b)(i) to delete “with respect to such fiscal year if the Company’s plan for
such fiscal year is achieved, a pro rata portion of any Annual Bonus payable with respect to such
fiscal year corresponding to the portion of such fiscal year during which the Employee was employed
by the Company (such pro rata Annual Bonus to be payable within thirty days after the close of such
fiscal year),” and replace it with the following:

two-times target Annual Bonus payment prescribed in section 4(b) of the Employment
Agreement, less any pro-rata 2006 Annual Bonus payment received upon close of the
Transaction. Such amount is payable in a lump sum upon termination of employment
and close of the Transaction.

     6. Amend section 7(b)(ii) to delete “eighteen (18)” and replace it with “twenty-four (24)”.

     7. All other terms and conditions of the Employment Agreement shall remain in full force and
effect.

          IN WITNESS WHEREOF, the Company and the Employee have duly executed and delivered this
Amendment One to the Employment Agreement as of the day and year first above written.

	 	 	 	 	 
	 	VALOR COMMUNICATIONS GROUP, INC.

 	 
	 	  	By: 	/s/ John J. Mueller 	 
	 	 	Name:  	John J. Mueller 	 
	 	 	Title:  	President and Chief Executive Officer 	 

	 	 	 	 	 
	 	 	/s/
Cynthia B. Nash 

	 

	 	 

Employee

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