Document:

Exhibit 10.1B

 

INSIGHT
COMMUNICATIONS COMPANY, INC.

1999
EQUITY INCENTIVE PLAN

 

AMENDMENT
TO

RESTRICTED SHARES AND DEFERRED STOCK

AWARD AGREEMENT

 

AGREEMENT, dated as of December 16, 2005 (“Amendment
Date”), between Insight Communications Company, Inc., a Delaware
corporation (the “Company”), and                  
(the “Grantee”).

 

W I T N E S S E T H:

 

WHEREAS, the Board of Directors of the Company (the “Board”)
has adopted the Insight Communications Company, Inc. 1999 Equity Incentive
Plan, as amended (the “Plan”), which Plan authorizes the grant of restricted
shares of the Company’s common stock, $.01 par value (“Common Stock”), as well
as the grant of deferred shares of Common Stock, to directors, officers,
employees and consultants of the Company or any of its affiliates; and

 

WHEREAS, by agreement dated              ,
the Company and Grantee entered into a Restricted Shares and Deferred Stock
Award Agreement (the “Prior Agreement”), whereby the Company awarded the
Grantee a grant of          shares of deferred
stock (the “Deferred Stock”); and

 

WHEREAS, the Company’s Common Stock is expected to
cease to be readily tradable on an established securities exchange or otherwise
upon consummation of the transactions contemplated pursuant to the terms of the
Agreement and Plan of Merger by and Between Insight Acquisition Corp. and
Insight Communications Company, Inc. dated as of July 28, 2005 (the “Merger
Agreement”); and

 

WHEREAS, Section 1.08(b) of the Merger
Agreement provides that the Deferred Stock will be adjusted upon consummation
of the transactions contemplated by the Merger Agreement so that each share of
Deferred Stock will be settled for a share of the Company’s Series C
Non-Voting Preferred Stock (“Preferred Stock”) rather than a share of the
Company’s Common Stock; and

 

WHEREAS, the Prior Agreement provides that the Company
will deliver Common Stock certificates to the Grantee in settlement of all
vested shares of Deferred Stock on the last business day of the week following
the week of Grantee’s Termination of Employment; and

 

WHEREAS, the Company and the Grantee desire to amend
the Prior Agreement to provide for settlement of the Deferred Stock in shares
of the Company’s Preferred Stock rather than Common Stock and to delay any
distribution of shares of Preferred Stock until the earlier of (i) the
occurrence of a change of control of the Company, as determined in accordance
with final

 

 

regulations or other applicable guidance issued under Section 409A
of the Internal Revenue Code of 1986, as amended (the “Code”), or (ii) the
later of the Grantee’s Termination of Employment or the fifth anniversary of
the Amendment Date;

 

NOW, THEREFORE, the parties hereto hereby agree to
amend the Prior Agreement as of the Amendment Date as follows:

 

A.                                   All
references to “Common Stock” or “Class A Common Stock” in the numbered
paragraphs of the Prior Agreement are hereby replaced with “Preferred Stock..”

 

B.                                     Sections
4, 7 and 11 of the Prior Agreement are hereby amended to read as follow:

 

4.                                       Delivery of Preferred Stock in Settlement of
Deferred Stock.  The Company will deliver Preferred Stock
certificates to the Grantee in settlement of all vested shares of Deferred
Stock on the earlier of (i) a change of control of the Company (as
determined in accordance with final regulations or other applicable guidance
issued under Section 409A of the Code), or (ii) the later of (A) the
last business day of the week ending (x) at least six months after the Grantee’s
Termination of Employment or, (y) if neither the Company nor any member of the
Company’s controlled group that together with the Company is treated as a
single service recipient for purposes of Code Section 409A and the
regulations issued thereunder is readily tradable on an established securities
market or otherwise, the week after the Grantee’s Termination of Employment or (B) the
fifth anniversary of the Amendment Date (the “Settlement Date”); provided,
however, that no such delivery shall be made until the Grantee has delivered to
the Company the amount necessary for the Company to satisfy its federal, state
and local employment and income tax withholding obligation as provided in Section 11
and a fully executed Securityholders Agreement in the form attached hereto as Exhibit A.

 

The Grantee shall have no right to receive the Preferred Stock
certificates in settlement of the Deferred Stock until the Settlement Date and
shall have no rights as a stockholder of the Company with respect to the
Deferred Stock until the Company delivers such Preferred Stock certificates.  Upon issuance of the shares of
Preferred Stock in the Grantee’s name in settlement of the Deferred Stock, the
Grantee will be the holder of record of such Preferred Stock and will have all
rights of a shareholder with respect to such shares.

 

. . .

 

7.                                       Acceleration
of Vesting.  Notwithstanding Section 6,
all shares of Deferred Stock granted hereunder shall immediately vest upon (i) the
Grantee’s Termination of Employment due to death or disability (within the
meaning of Section 22(e)(3) of the Internal Revenue Code of 1986, as
amended (the “Code”)), or (ii) the occurrence of a change of control of
the Company, as determined in accordance with final regulations or other
applicable guidance issued under Section 409A of the Code.

 

2

 

. . .

 

11.                                 Tax Withholding.

 

(i)                                     Income Tax Withholding.  Whenever
any Preferred Stock is delivered in settlement of Deferred Stock under the
terms of this Agreement (a “Taxable Event”), the Grantee must remit or, in
appropriate cases, agree to remit when due, the minimum amount necessary for
the Company to satisfy all of its federal, state and local withholding tax
requirements relating to such Taxable Event. 
The Committee may require the Grantee to satisfy these minimum withholding
tax obligations by any (or a combination) of the following means: (i) a
cash payment; (ii) withholding from compensation otherwise payable to the
Grantee; (iii) authorizing the Company to withhold from the shares of
Preferred Stock deliverable to the Grantee in settlement of Deferred Stock a
number of shares having a fair market value, as of the Settlement Date, less
than or equal to the amount of the withholding obligation; or (iv) delivering
to the Company unencumbered “Mature Shares” (as defined below) of Preferred
Stock having a fair market value, as of the date the withholding tax obligation
arises, less than or equal to the amount of the withholding obligation;
provided, however, that if the Preferred Stock is not readily tradable on an
established securities market on the Settlement Date, the Committee will allow
the Grantee to satisfy these minimum withholding tax obligations through the
method described in clause (iii) above, unless the Grantee elects one or
more of the other alternative methods permitted by the Committee for satisfying
these minimum withholding tax obligations.

 

The Company shall
not deliver any shares of Preferred Stock in settlement of Deferred Stock
unless the Grantee remits (or in appropriate cases agrees to remit) all withholding
tax requirements relating to the Taxable Event in accordance with this Section 11.

 

The term “Mature
Shares” as used herein shall mean shares of Preferred Stock for which the
holder has good title, free and clear of all liens and encumbrances, and which
such holder either (i) has held for at least six months or (ii) has
purchased on the open market.

 

(ii)                                  FICA Withholding.  Notwithstanding any provision
herein to the contrary, the Grantee must remit or, in appropriate cases, agree
to remit when due, the amount necessary for the Company to satisfy all of its
FICA withholding requirements with respect to the vesting of Deferred
Stock.  The Committee may require the
Grantee to satisfy this FICA withholding obligations by any (or a combination)
of the following means: (i) a cash payment; (ii) withholding from
compensation otherwise payable to the Grantee; or (iii) delivering to the
Company unencumbered “Mature Shares” (as defined in Section 11(i) above)
of Preferred Stock having a fair market value, as of the date the FICA
withholding obligation arises, less than or equal to the amount of the
withholding obligation.

 

3

 

Except as set forth herein, the terms of the Prior
Agreement (including, without limitation, the applicable vesting schedule contained
in Section 6 of the Prior Agreement) shall remain in full force and
effect.

 

IN WITNESS WHEREOF, the undersigned have executed this
Agreement as of the date above written.

 

 

	
   

  	
  INSIGHT COMMUNICATIONS
  COMPANY, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  GRANTEE:

  	
   

  	
   

  
					

 

4Exhibit 10.23

 

CONSULTING
AGREEMENT

 

This Consulting Agreement (this “Agreement”) is
made as of December 16, 2005, by and among Insight Communications Company, Inc.,
a Delaware corporation (the “Company”), TC Group III, L.L.C. and TC
Group IV, L.L.C., each a Delaware limited liability company (each individually,
and collectively, “Carlyle”).  The
Company and Carlyle are sometimes referred to herein individually as a “Party”
and, collectively, as the “Parties”.

 

RECITALS:

 

WHEREAS, Carlyle, by and through its officers,
employees, agents, representatives and affiliates, has expertise in the areas
of corporate management, finance, product strategy, investment, acquisitions
and other matters relating to the business of the Company; and

 

WHEREAS, the Company desires to avail itself of the
expertise of Carlyle in the aforesaid areas, in which it acknowledges the
expertise of Carlyle;

 

NOW, THEREFORE, in consideration of the foregoing
recitals and the covenants and conditions herein set forth, the Parties agree
as follows:

 

Section 1.                                            Appointment.  The Company hereby appoints Carlyle, for the
duration of the Term, to render the advisory, consulting and oversight services
described in Section 2(a) to the Company.

 

Section 2.                                            Services.

 

(a)                                  During
the Term, Carlyle shall render to the Company, by and through such of Carlyle’s
officers, employees, agents, representatives and affiliates as Carlyle, in its
sole discretion, shall designate from time to time, advisory, consulting and
oversight services relating to strategic planning, marketing and financial
oversight of the operations of the Company, including, without limitation,
advisory and consulting services in connection with the selection, retention
and supervision of independent auditors, outside legal counsel, investment
bankers or other advisors or consultants of the Company (the “Oversight
Services”).

 

(b)                                 It
is agreed that the Oversight Services shall not include investment banking,
financial advisory or other services rendered by Carlyle to the Company in
connection with (i) any acquisitions or divestitures by or of the Company
or any of its subsidiaries, (ii) any public or private sale of debt or
equity securities of the Company or any of its subsidiaries or affiliates or (iii) any
similar transactions (collectively, “Investment Banking Services”).

 

 

Section 3.                                            Fees.

 

(a)                                  In
consideration of the performance of the Oversight Services by Carlyle, the
Company agrees to pay to Carlyle a consulting fee in the amount of $1,500,000
per annum (the “Consulting Fee”), commencing on the date of this
Agreement and continuing until such time as this Agreement is terminated in
accordance with the terms hereof.

 

(b)                                 The
Consulting Fee shall be payable as follows:

 

(i)                                     For
the period commencing on the date of this Agreement and ending on December 31,
2005, the Consulting Fee shall be pro rated on the basis of a 365 day year and
shall be payable on the date hereof; and

 

(ii)                                  For
each subsequent calendar year commencing on January 1, 2006, the
Consulting Fee shall be payable quarterly in advance, in equal installments,
commencing on January 1, 2006.

 

(c)                                  The
Consulting Fee shall be allocated between the Carlyle entities as set forth in Exhibit A
hereto, and all payments made by the Company to Carlyle on account of the
Consulting Fee (including, without limitation, any termination fee contemplated
by clause (ii) of Section 5(b) hereof) shall be made in
accordance with such allocation.  Except
as provided in Section 5(b), all payments made by the Company to Carlyle
on account of the Consulting Fee shall be non-refundable.

 

(d)                                 The
Parties acknowledge and agree that the Company or any of its subsidiaries may,
in its discretion, choose to discuss with Carlyle possible future engagements
to perform additional services (including, without limitation, Investment
Banking Services) that are not part of the Oversight Services, in which case
the Parties will at such time discuss the scope of such services and the amount
of additional compensation payable to Carlyle for performing such services.  None of the Parties or their subsidiaries or
affiliates have any commitment to discuss or to agree to any future
engagements.

 

Section 4.                                            Indemnification.

 

(a)                                  The
Company shall indemnify and hold harmless Carlyle and its officers, employees,
agents, representatives, members and affiliates (each, an “Indemnified Party”)
from and against any and all costs, expenses, liabilities, claims (including
any third-party claims), damages and losses (collectively, “Losses”)
relating to or arising out of the engagement of Carlyle pursuant to this
Agreement or the performance by Carlyle of the Oversight Services pursuant
hereto; provided, however, that the indemnification obligations
of the Company pursuant to this Section 4 shall not apply to any Loss

 

2

 

resulting
solely from the gross negligence or willful misconduct of Carlyle, as
determined by a court in a final judgment from which no further appeal may be
taken.

 

(b)                                 The
Company shall reimburse any Indemnified Party for all reasonable costs and
expenses (including reasonable attorneys’ fees and expenses) as they are
incurred in connection with the investigation of, preparation for or defense of
any pending or threatened claim, action or proceeding (each, an “Action”)
for which the Indemnified Party would be entitled to indemnification under Section 4(a),
whether or not such Indemnified Party is a party thereto, provided that,
subject to the provisions of Section 4(c), the Company shall be entitled
to assume the defense of such Action at its own expense, with counsel
satisfactory to such Indemnified Party in its reasonable judgment.

 

(c)                                  Any
Indemnified Party may, at its own expense, retain separate counsel to
participate in such defense, and in any Action in which the Company, on the one
hand, and an Indemnified Party, on the other hand, is or is reasonably likely
to become a party, such Indemnified Party shall have the right to retain, at
the Company’s expense, separate counsel and to control its own defense of such
Action if, in the reasonable opinion of counsel to such Indemnified Party, a
conflict or potential conflict exists between the Company, on the one hand, and
such Indemnified Party, on the other hand, that would make such separate
representation advisable.

 

(d)                                 The
Company agrees that it will not, without the prior written consent of the
relevant Indemnified Party, settle, compromise or consent to the entry of any
judgment in any pending or threatened Action relating to the matters
contemplated hereby (if any Indemnified Party is a party thereto or has been
actually threatened to be made a party thereto) unless such settlement,
compromise or consent includes an unconditional release of the relevant
Indemnified Party and each other Indemnified Party from all liability arising
or that may arise out of or in connection with such Action.  Provided that the Company is not in breach of
its indemnification obligations hereunder, no Indemnified Party shall settle or
compromise any Action subject to indemnification hereunder without the prior
written consent of the Company.

 

Section 5.                                            Term;
Termination.

 

(a)                                  The
term of this Agreement (the “Term”) shall commence on the date hereof
and shall continue until the earliest to occur of the following: (i) Carlyle
(together with one or more of its affiliates) ceases to control, in the
aggregate, at least 10% of the equity securities of the Company issued and
outstanding at the relevant time; (ii) the Company effects a Sale (as such
term is defined in the Securityholders Agreement, dated as of the date hereof
(the “Securityholders Agreement”), among the Company, certain affiliates
of Carlyle and the other securityholders of the Company party thereto); or (iii) the
Company effects a Qualified IPO (as defined in the Securityhoders Agreement).

 

3

 

(b)                                 Upon
the termination of this Agreement pursuant to Section 5(a)(i) or
(ii), Carlyle shall refund to the Company the portion of the Consulting Fee, if
any, paid by the Company to Carlyle with respect to the period from the date of
such termination until the expiration of the calendar quarter in which such
termination occurs.

 

(c)                                  Upon
the termination of this Agreement pursuant to Section 5(a)(iii), the
Company shall pay to Carlyle a termination payment that shall be equal to the
net present value (calculated using a discount rate equal to the then current
yield on U.S. Treasury Securities of like maturity) of the aggregate amount of
the Consulting Fee that would have been payable by the Company to Carlyle with
respect to the period beginning on the date of termination of this Agreement
pursuant to Section 5(a)(iii) and ending on the second anniversary of
the date of such termination.  The
termination payment shall be payable by the Company to Carlyle within two (2) days
after the date on which such termination of this Agreement becomes effective.

 

Section 6.                                            Other
Activities.  Nothing herein shall in
any way preclude Carlyle or any of its officers, employees, agents,
representatives, members or affiliates from engaging in any business activities
or from performing services, whether for its own account or for the account of
others, including for companies that may be in competition with the business
conducted by the Company.

 

Section 7.                                            Miscellaneous.

 

(a)                                  Amendment;
Waivers.  No amendment, alteration or
modification of this Agreement or waiver of any provision of this Agreement
shall be effective unless such amendment, alteration, modification or waiver is
approved in writing by each Party.  The
failure of either Party to enforce any provision of this Agreement shall not be
construed as a waiver of such provision and shall not affect the right of such
Party thereafter to enforce each provision of this Agreement in accordance with
its terms.

 

(b)                                 Binding
Effect; Assignment.  This Agreement
shall be binding upon and shall inure to the benefit of the Parties and their
respective successors and permitted assigns. 
This Agreement and the rights and obligations of the Parties hereunder
may not be assigned by either Party without the prior written consent of the
other Party; provided, however, that Carlyle may, at its sole
discretion, assign or transfer its rights and obligations hereunder to any of
its affiliates that constitute Permitted Assignees under the Securityholders
Agreement.

 

(c)                                  Notices.  Any notice or other communication required or
permitted to be given or made under this Agreement by one Party to the other
Party shall be in writing and shall be deemed to have been duly given and
effective (i) on the date of delivery if delivered personally, (ii) three
days after being sent by registered or certified mail, return receipt requested
and postage prepaid, or (iii) upon transmission by telecopy with
confirming copy sent concurrently by registered or certified mail, return
receipt requested

 

4

 

and
postage prepaid, to the following addresses (or to such other address as shall
be given in writing by one Party to the other Party in accordance herewith):

 

If to Carlyle:

 

TC
Group, LLC

c/o The Carlyle Group

1001 Pennsylvania Avenue, NW

Suite 220 South

Washington, D.C. 20004

Facsimile:  (202) 347-1692

Attention:  William E. Kenard

 

If to the Company:

 

Insight
Communications Company, Inc.

810 Seventh Avenue

41st Floor

New York, NY 10019

Facsimile:  (917) 286-2301

Attention:  Elliot Brecher

 

(d)                                 Entire
Agreement.  This Agreement shall
constitute the entire agreement between the Parties with respect to the subject
matter hereof, and shall supersede all previous oral and written (and all
contemporaneous oral) negotiations, commitments, agreements and understandings
relating hereto.

 

(e)                                  Governing
Law; Submission to Jurisdiction. 
This Agreement shall be deemed to be a contract made under, and is
to be governed and construed in accordance with, the laws of the State of New
York, without regard to the conflict of laws principles or rules thereof.  EACH OF THE PARTIES HEREBY IRREVOCABLY AND
UNCONDITIONALLY CONSENTS TO SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE COURTS
OF THE STATE OF NEW YORK AND THE FEDERAL COURTS OF THE UNITED STATES OF
AMERICA, IN EACH CASE LOCATED IN THE COUNTY OF NEW YORK, IN ANY ACTION OR
PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, AND EACH OF THE
PARTIES HERETO IRREVOCABLY AGREES THAT (I) THE APPROPRIATE VENUE
FOR ANY ACTION, SUIT OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT
SHALL BE IN SUCH A COURT, (II) ALL CLAIMS ARISING OUT OF OR
RELATING TO THIS AGREEMENT SHALL BE HEARD AND DETERMINED IN SUCH A COURT,
AND (III) ANY SUCH COURT SHALL HAVE JURISDICTION OVER THE PERSON OF
SUCH PARTY AND OVER THE SUBJECT MATTER OF ANY DISPUTE ARISING OUT OF OR
RELATING TO THIS AGREEMENT.

 

5

 

(f)                                    Waiver
of Jury Trial.  Each of the Parties
hereto irrevocably and unconditionally waives the right to trial by jury with
respect to any claim or action arising out of, relating to or in connection
with this agreement or any transaction contemplated hereby.

 

(g)                                 Severability.  If any provision of this Agreement is held by
a court of competent jurisdiction to be invalid or unenforceable in any
jurisdiction, such holding shall not affect the validity or enforceability of
the remainder of this Agreement in such jurisdiction or the validity or
enforceability of this Agreement, including such provision, in any other
jurisdiction, and such provision shall be interpreted, revised or applied in a
manner that renders it valid and enforceable to the fullest extent possible.

 

(h)                                 Headings.  The headings of this Agreement are inserted
for convenience only and do not constitute a part of this Agreement.

 

(i)                                     Counterparts.  This Agreement may be executed in any number
of counterparts, each of which shall be an original and all of which taken
together shall constitute one and the same agreement.

 

[Remainder of this
page intentionally left blank]

 

6

 

IN WITNESS WHEREOF, the Parties have caused this
Agreement to be executed and delivered by their duly authorized officers or
agents as set forth below.

 

	
   

  	
  INSIGHT COMMUNICATIONS

  COMPANY, INC.

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  TC GROUP III, L.L.C.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:TC Group, L.L.C.,

  	
   

  
	
   

  	
       Its Managing Member

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name: William E. Kennard

  	
   

  
	
   

  	
   

  	
  Title: Managing Director

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  TC GROUP IV, L.L.C.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:TC Group, L.L.C.,

  	
   

  
	
   

  	
       Its Managing Member

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name: William E. Kennard

  	
   

  
	
   

  	
   

  	
  Title: Managing Director

  	
   

  
					

 

 

Exhibit A

 

Consulting Fee
Allocation

 

 

	
  Carlyle Entity

  	
   

  	
  Consulting Fee Percentage

  
	
   

  	
   

  	
   

  
	
  TC Group III, LLC

  	
   

  	
  51.70%

  
	
   

  	
   

  	
   

  
	
  TC Group IV, LLC

  	
   

  	
  48.30%

  

 

8

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