Document:

Exhibit 10.1

STATE OF SOUTH CAROLINA             )
                                    )                  SEPARATION AGREEMENT
                                                        --------------------
COUNTY OF GREENVILLE                )

         This Agreement is made and entered this 9th day of October 2001, by and
between James D. Stewart, (hereinafter "Employee") and New Commerce BanCorp
(hereafter "Company"), a South Carolina corporation and holding company for New
Commerce Bank, N.A., a bank chartered under the laws of the United States
(hereafter "Bank"), on Company's behalf and on behalf of all others released
under Paragraph 4 hereof (all of which are hereinafter referred to and included
in the term "Released Parties" as that term is further defined in Paragraph 4
hereof):

                              W I T N E S S E T H:

         WHEREAS Employee resigned his employment on September 5, 2001 effective
immediately; and

         WHEREAS, the parties wish to preserve the goodwill which exists between
them and to settle all claims and disputes which may exist between them; and

         WHEREAS Company has agreed to make payments to or on behalf of Employee
and Employee has acknowledged that he is not otherwise entitled to such
payments; and

         WHEREAS, in return for the payments, Employee has agreed that he will
release all claims he may have, if any, against the Released Parties; and

         NOW, THEREFORE, in reliance on the foregoing premises, and in exchange
for good and valuable consideration, the sufficiency and receipt of which is
hereby acknowledged, the parties hereto agree as follows:

         1. Effective September 5, 2001, Employee has resigned his employment
with Company.

         2. Company agrees to pay, and Employee agrees to accept, the property
and payments described in subsections a through e below. From any payments made
directly to Employee, appropriate amounts for applicable local, state and
federal tax will be deducted. The sums paid to or on behalf of employee, as well
as the vehicle allowance, will be reported to Employee on IRS Form W-2 in the
year in which they are paid. Company will:

                      a.       Pay Employee's salary from October 1, 2001
                               through February 28, 2002 in the gross amount of
                               Eight Thousand Six Hundred Sixty-seven and no/100
                               ($8,667.00) Dollars per month, payable to
                               Employee in accordance with the Company's regular
                               payroll practices; provided, however, in the
                               event that Employee obtains gainful employment
                               during this period, the payment referenced above
                               shall be eliminated altogether; and

                      b.       Pay, on Employee's behalf, medical
                               insurance coverage, on or before the due date to
                               the appropriate entity until February 28, 2002,
                               at which time, with respect to such medical
                               coverage, Employee shall be eligible for COBRA
                               contribution coverage; and

                      c.       Pay for outplacement services for the benefit of
                               Employee to be provided by the firm of Meridian
                               Resources.

<PAGE>

         3. Company has previously granted to Employee stock options for an
aggregate of 52,500 shares of common stock. These options were granted pursuant
to separate Stock Option Agreements dated June 30, 1999 and August 26, 1999.
Employee acknowledges that all of these stock options are forfeited. Further,
Company has previously granted to Employee the rights to warrants to purchase
7,500 shares of Common stock pursuant to the Stock Warrant Agreement between the
parties dated March 19, 2000. Such rights to warrants shall continue to be
governed by that Agreement.

         4. In exchange for the foregoing payments Employee, for himself, his
attorneys, his spouse or former spouse, children, his heirs, executors,
administrators and assigns, does hereby fully, finally and forever release
Company, Bank and MSB Investments Corp., as well as their employee benefit
plans, plan administrators, predecessors, successors, assigns, present or former
affiliates, joint venturers, divisions, agents, directors, board members,
employees, officers, owners and shareholders and their heirs, executors,
administrators and assigns (all of whom are herein collectively referred to as
"Released Parties"), from any and all claims, demands, actions, causes of
actions, suits, damages, losses, expenses and attorney's fees of any kind and
every nature whatsoever, known or unknown, which he has or may have against any
of the Released Parties arising from or pertaining to any transaction, dealing,
employment relationship, employment agreement, conduct, act or omission, or any
other matter or event existing or occurring at any time prior to the date
hereof, including but not limited to matters arising from his employment with
Company or the cessation thereof. Further, and without in any way limiting the
foregoing, the claims waived and released by Employee include any possible or
alleged deprivation of rights under any employment discrimination statute or
based on any term or condition of his former employment, employment benefits or
promises, compensatory or punitive damages, as well as costs and attorneys' fees
of any and all counsel whom he has retained or whom he may in the future retain
in regard to those matters.

         5. Employee agrees also to maintain in absolute confidence all past and
future privileged communications with or in the presence of attorneys for
Company or Bank, whether relating to litigation pending against Company or Bank,
or otherwise.

         6. Company or Bank owns all Work Product that arose (or that shall be
deemed to have arisen during) the course of Employee's employment. For purposes
hereof, "Work Product" shall mean all intellectual property rights, including
all Trade Secrets, U.S. and international copyrights, patentable inventions, and
other intellectual property rights in any programming, documentation, technology
or other work product that relates to Company, Bank, or their respective
business or customers and that Employee conceived, developed, or delivered to
Company or Bank at any time during his employment, during or outside normal
working hours, in or away from the facilities of Company, and whether or not
requested by Company. Employee acknowledges that no Work Product contains any
materials, programming or intellectual property rights that Employee conceived
or developed prior to, and independent of, Employee's work for Company or Bank.
Employee agrees to take such actions and execute such further acknowledgments
and assignments as Company may reasonably request to give effect to this
provision.

         7. Employee has not used or disclosed any Trade Secrets of Company or
Bank. Employee agrees to maintain in strict confidence and Employee agrees not
to use or disclose any Trade Secrets of Company or Bank on or after the date of
this Agreement. "Trade Secret" means information, including a formula, pattern,
compilation, program, device, method, technique, process, drawing, cost data or
customer list, that: (i) derives economic value, actual or potential, from not
being generally known to, and not being readily ascertainable by proper means
by, other persons who can obtain economic value from its disclosure or use; and
(ii) is the subject of efforts that are reasonable under the circumstances to
maintain its secrecy.

         8. Employee has not used or disclosed any Confidential Business
Information of Company or Bank. Employee agrees to maintain in strict confidence
and not to use or disclose any Confidential Business Information of Company or
Bank for a period of 24 months from the date of this Agreement. "Confidential
Business Information" shall mean any internal, non-public information (other
than Trade Secrets already addressed above) concerning the financial position
and results of operations (including revenues, assets, net income, etc.) of
Company or Bank; annual and long-range business plans; product or

<PAGE>

service plans; marketing plans and methods; training, educational and
administrative manuals; customer and supplier information and purchase
histories; and employee lists. The provisions of this Section 8 and Section 7
above shall also apply to protect Trade Secrets and Confidential Business
Information of third parties provided to Company or Bank under an obligation of
secrecy.

         9. For a period of 12 months from the date of this Agreement, Employee
shall not (except on behalf of or with the prior written consent of Company),
either directly or indirectly, on Employee's own behalf or in the service or on
behalf of others, (A) solicit, divert, or appropriate to or for a Competing
Business, or (B) attempt to solicit, divert, or appropriate to or for a
Competing Business, any person or entity that was a customer of Company or Bank
on September 5, 2001 and is located in the Territory. For a period of 12 months
from the date of this Agreement, Employee shall not, either directly or
indirectly, on Employee's own behalf or in the service or on behalf of others,
(A) solicit, divert, or hire away, or (B) attempt to solicit, divert, or hire
away, to any Competing Business located in the Territory, any employee of or
consultant to Company or Bank engaged or experienced in the Business, regardless
of whether the employee or consultant is full-time or temporary, the employment
or engagement is pursuant to written agreement, or the employment is for a
determined period or is at will. "Business" shall mean the operation of a
depository financial institution, including, without limitation, the
solicitation and acceptance of deposits of money and commercial paper, the
solicitation and funding of loans and the provision of other banking services,
and any other related business engaged in Company or Bank as of September 5,
2001. "Competing Business" shall mean any business that, in whole or in part, is
the same or substantially the same as the Business. "Territory" shall mean a
radius of ten miles from (i) the main office of Bank or (ii) any branch office
of Bank.

         10. Employee represents and warrants that he has surrendered to Company
all documents, including originals and all copies of any lists, books,
compilations, records and computer records, connected with Company's business,
customers or suppliers, whether prepared by Employee or others, and all other
property belonging to Company or Bank.

         11. Employee represents and warrants that no other person or entity is
entitled to assert any claim of any kind or character arising out of, or as a
consequence of, his employment with Company, termination of his employment with
Company or any benefits relating to this employment or its cessation.

         12. Employee acknowledges that the relationship created by this
Agreement is purely contractual and that no employer-employee relationship is
intended or may be inferred from the performance of the Company's obligations
under this Agreement.

         13. Employee understands and affirms that this Agreement does not
constitute an admission by Company or any Released Party of a violation of any
statute, ordinance, constitutional provision, or common law right, and that this
Agreement shall not be deemed an admission, finding, or indication for any
purpose whatsoever that Company or any Released Party has at any time, including
the present, acted contrary to the law or violated the rights of Employee or any
other person.

<PAGE>

         14. All notices will be delivered by hand or by mail to Employee and
Company as follows

                  As to Employee:   James D. Stewart

                  As to Company:    New Commerce BanCorp
                                    Attn: Chief Executive Officer
                                    501 New Commerce Court
                                    Mauldin, SC  29607

         15. This Agreement shall be construed in accordance with the laws of
the State of South Carolina. In addition, the parties agree that the state or
federal courts of the State of South Carolina shall have sole jurisdiction to
adjudicate any dispute that may arise under this Agreement.

         16. Employee affirms that the only consideration for his execution of
this Agreement are the terms stated herein, that this Agreement cannot be orally
changed or terminated, that there are no other promises or agreements of any
kind which have caused him to execute this instrument, and that he fully
understands the meaning and intent of it, including but not limited to its final
and binding effect.

<PAGE>

         EMPLOYEE ACKNOWLEDGES THAT HE HAS CAREFULLY READ THIS AGREEMENT AND,
HAVING BEEN GIVEN ADEQUATE OPPORTUNITY TO SEEK THE ADVICE OF AN ATTORNEY OF HIS
CHOOSING, KNOWS AND UNDERSTANDS ITS CONTENTS AND EXECUTES IT AS HIS FREE ACT AND
DEED.

         IN WITNESS WHEREOF the undersigned have set their hands and seals the
date first written above.

  WITNESSES:

/s/ Carol B. Stewart                          /s/ James D. Stewart
---------------------------                 ------------------------------------
                                                  James D. Stewart
/s/ Barbara Massingill
---------------------------

WITNESSES:                                  New Commerce BanCorp

  /s/ Barbara Massingill                    By:  /s/ Marshall J. Collins, Jr.
---------------------------                    ---------------------------------

  /s/ Theresa M. Chapman                    Its      Chairman
---------------------------                    ---------------------------------<PAGE>
                                                                    EXHIBIT 4.19

                          SECOND SUPPLEMENTAL INDENTURE

         SECOND SUPPLEMENTAL INDENTURE dated as of July 12, 2001, between Mpower
Communications Corp., a corporation duly organized and existing under the laws
of Nevada (the "Company"), Mpower Holding Corporation, a corporation duly
organized and existing under the laws of Delaware ("Holding") and HSBC Bank USA
(formerly known as Marine Midland Bank), as trustee (the "Trustee");

         WHEREAS, the Company has heretofore executed and delivered to the
Trustee an indenture dated as of September 29, 1997 (the "Original Indenture"),
to provide for the issuance of its debt securities (the "Securities") under the
Original Indenture;

         WHEREAS, the Company has heretofore executed and delivered to the
Trustee a First Supplemental Indenture dated as of May 31, 2000 (the "First
Supplemental Indenture"), eliminating certain of the covenants contained in the
Original Indenture;

         WHEREAS, the 13% Senior Secured Notes due 2004 constitute the only
series of Securities (the "Notes") under the Original Indenture, as amended and
supplemented by the First Supplemental Indenture;

         WHEREAS, Section 9.01 of the Original Indenture as amended and
supplemented by the First Supplemental Indenture provides, among other things,
that, without the consent of the holders of the Notes affected, the Company and
the Trustee may enter into indentures supplemental to the Original Indenture
for, among other things, to provide for the assumption of the Company's
obligations to holders of the Notes in case of a merger or consolidation or to
make any change that does not adversely affect the legal rights under the
Original Indenture, as amended and supplemented by the First Supplemental
Indenture, of any holder of the Notes;

         WHEREAS, Section 5.01 of the Original Indenture, as amended and
supplemented by the First Supplemental Indenture, requires that the Company not
transfer "all or substantially all" of its properties or assets to another
Person unless, among other things, such Person assumes all of the obligations of
the Company under the Notes, the Original Indenture, as amended and supplemented
by the First Supplemental Indenture, the Pledge Agreement (as defined in the
Original Indenture) and the Security Agreement (as defined in the Original
Indenture); and

         WHEREAS, the Company desires to transfer the capital stock of certain
of its subsidiaries which in the aggregate constitute "all or substantially all"
of the assets of the Company to Holding, its direct parent company; and

         WHEREAS, in order to ensure that the transfer of the Subsidiaries fully
complies with Section 5.01 of the Original Indenture, as amended and
supplemented by the First Supplemental Indenture, Holding will assume, pursuant
to this Second Supplemental Indenture, all of the Company's obligations under
the Original Indenture, as amended and supplemented by the First Supplemental
Indenture, the Notes, the Pledge Agreement and the Security Agreement; and
<PAGE>
         WHEREAS, the Company desires and has requested the Trustee and Holding
to join in the execution and delivery of this Second Supplemental Indenture for
the purpose of amending the Original Indenture as amended and supplemented by
the First Supplemental Indenture.

         NOW, THEREFORE, in consideration of the premises and for other good and
valuable consideration, it is mutually covenanted and agreed for the equal and
ratable benefit of all holders of the Notes as follows, effective upon execution
hereof by the Trustee:

                                  ARTICLE ONE
                        AMENDMENTS TO ORIGINAL INDENTURE,
         AS AMENDED AND SUPPLEMENTED BY THE FIRST SUPPLEMENTAL INDENTURE

         Section 101 Assumption of Obligations by Holding. Upon the execution of
this Second Supplemental Indenture, Holding hereby assumes all the obligations
of the Company under the Original Indenture, as amended and supplemented by the
First Supplemental Indenture, the Notes, the Pledge Agreement and the Security
Agreement and Holding shall succeed to and may exercise every right and power of
the Company under the Original Indenture, as amended and supplemented by the
First Supplemental Indenture, the Notes, the Pledge Agreement and the Security
Agreement. Notwithstanding anything in the foregoing to the contrary, nothing in
this Second Supplemental Indenture shall relieve the Company of any of its
obligations under the Original Indenture, as amended and supplemented by the
First Supplemental Indenture, the Notes, the Pledge Agreement and the Security
Agreement.

                                  ARTICLE TWO

                            MISCELLANEOUS PROVISIONS

         Section 201 Execution as Supplemental Indenture. This Second
Supplemental Indenture is executed and shall be construed as an indenture
supplemental to the Original Indenture as amended and supplemented by the First
Supplemental Indenture and, as provided in the Original Indenture as amended and
supplemented by the First Supplemental Indenture, this Second Supplemental
Indenture forms a part thereof. Except as otherwise expressly defined herein,
the use of the terms and expressions herein is in accordance with the
definitions, uses and constructions contained in the Original Indenture as
amended and supplemented by the First Supplemental Indenture.

         Section 202 Responsibility for Recitals, etc. The recitals herein shall
be taken as the statements of the Company, and the Trustee assumes no
responsibility for the correctness thereof. The Trustee makes no representations
as to the validity or sufficiency of this Second Supplemental Indenture.

         Section 203 Provisions Binding on Company's and Holding's Successors.
All of the covenants, stipulations, promises and agreements made in this Second
Supplemental Indenture by the Company and Holding shall bind its successors and
assigns whether so expressed or not.

                                       2
<PAGE>
         Section 204 Governing Law. This Second Supplemental Indenture shall be
deemed to be a contract made under the laws of the State of New York and, for
all purposes, shall be construed in accordance with the laws of said State.

         Section 205 Execution and Counterparts. This Second Supplemental
Indenture may be executed in any number of counterparts, each of which shall be
an original, but such counterparts shall together constitute but one and the
same instrument.

         Section 206 Trust Indenture Act to Control. If and to the extent that
any provision of this Second Supplemental Indenture limits, qualifies, or
conflicts with another provision included in the Original Indenture as amended
and supplemented by the First Supplemental Indenture, and this Second
Supplemental Indenture which is required to be included in or is deemed to be
applicable to this Second Supplemental Indenture by any of Sections 310 to 317,
inclusive, of the Trustee Indenture Act of 1939, such required or other
applicable provision shall control.

         Section 207 Capitalized Terms. Capitalized terms used and not defined
herein have the meanings ascribed to such terms in the Original Indenture as
amended and supplemented by the First Supplemental Indenture.

                    [Signature page follows on the next page]

                                       3
<PAGE>
         IN WITNESS WHEREOF, the parties hereto have caused this Second
Supplemental Indenture to be duly executed as of the date first written above.

                                            MPOWER COMMUNICATIONS CORP.

                                            By:
                                               ---------------------------------
                                                Name:   Rolla P. Huff
                                                Title:  Chief Executive Officer

                                            MPOWER HOLDING CORPORATION

                                            By:
                                               ---------------------------------
                                                Name:   Rolla P. Huff
                                                Title:  Chief Executive Officer

                                            HSBC BANK USA, as Trustee

                                            By:
                                               ---------------------------------
                                               Name:
                                               Title:

                                       4

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