Document:

Description of The Worthington Industries, Inc. Executive Bonus Plan

 Exhibit 10.19 
  
 DESCRIPTION OF THE WORTHINGTON INDUSTRIES, INC. 
 EXECUTIVE BONUS PLAN 
  
 A basic philosophy of Worthington Industries, Inc. (together with its subsidiaries, the “Company”) is that regular full-time, non-union employees of the Company have a meaningful
portion of their total compensation tied to incentives, primarily profitability of the Company and/or their applicable business unit or operating location. In furtherance of this philosophy, such employees in general participate in incentive
compensation programs, such as the Company’s cash profit sharing plan and executive bonus plan, both of which have been in place since the 1960s. Cash profit sharing generally covers a majority of the Company’s employees and is computed as
a fixed percentage of operating profit of the Company and/or the relevant business unit or operating location and is shared among the participating employees. For purposes of cash profit sharing and the bonus plan, operating profit generally means
(i) operating income before profit sharing and bonus but reduced by interest expense, for business units and operating locations, and (ii) net income for total Company. 
  
 The Company’s executive officers and certain other key employees participate in an executive bonus plan
(the “Bonus Plan”). Under the Bonus Plan, bonuses are paid to participants based largely upon total Company, business unit and/or operating location performance measures primarily operating profit for the fiscal quarter. Accordingly,
improvements in quarterly operating profit on a year over year basis will result in increased bonuses, while declines in quarterly operating profit on a year over year basis will result in decreased bonuses. In general, these changes are in line
with the percentage increase or decrease in profit sharing payments under the cash profit sharing plan. While total Company, business unit or operating location operating income is the primary driver in determining the amount of a bonus, bonuses may
be adjusted up or down based on individual performance as determined by the individual’s manager, the CEO, or the Compensation and Stock Option Committee of the Worthington Industries, Inc. Board of Directors (the “Committee”), as
appropriate. Quarterly bonuses may also be paid to selected individuals pursuant to performance awards made under the 1997 LTIP based on achieving earnings per share result targets for the quarter, all as determined by the Committee. Bonuses are
determined and paid within a reasonable time after quarterly financial results have been determined, and generally account for a substantial percentage of the participant’s total cash compensation.Summary of Cash Compensation for Directors of Worthington Industries, Inc.

 Exhibit 10.20 
  
 SUMMARY OF CASH COMPENSATION 
 FOR DIRECTORS OF 
 WORTHINGTON INDUSTRIES, INC. 
  
 Non-employee Directors of Worthington Industries, Inc. (the
“Company”) receive the following cash compensation. Directors who are employees of the Company receive no additional compensation for serving as members of the Board of Directors (the “Board”) or as members of Board committees.
Directors are reimbursed for out-of-pocket expenses incurred in connection with their serving as directors, including travel expenses. 
  

			
	 Annual Retainer:
	    	 $35,000

		
	 Attendance at Board Meetings:
	    	 $1,500

	 (including telephonic meetings)
	    	 
		
	 Audit Committee Chairman
	    	 
	 Annual Retainer:
	    	 $10,000

		
	 Committee Chairman Other Than Audit
	    	 
	 Annual Retainer:
	    	 $5,000

		
	 Attendance At Committee Meetings:
	    	 $1,000

	 (including telephonic meetings)Form of Long-Term Incentive Performance Award Letter

 Exhibit 10.21 
  
 Date 
  
 Name 
 Address 
 City, State, ZIP 
  

	 Re:
	 Long-Term Incentive Performance Award - Targets for 3-Year Period Ending May 2        

  
 Dear
                    : 
  
 The Compensation Committee of the Board of Directors granted to you a Performance Award under the Company’s Long Term Incentive Program on the terms
described below. The Performance Award is designed to provide incentive payouts to certain senior managers based on the attainment of stated financial performance targets over a three-year period. 
  
 In an effort to focus on both the quantity and quality of earnings, the
Performance Awards incorporate both an EPS and EVA component. For corporate officers, 50% of the possible award is allocated to EPS targets and 50% to EVA targets. For business unit executives, the Performance Award is structured a little
differently; 50% of the possible award is allocated to the same corporate EPS and EVA targets as the corporate officers and 50% is allocated to business unit operating income targets. 
  
 Your Target Award for the three year performance period ending
May             is $                    . The specific performance targets,
and the allocation of the Target Award, is set forth below: 
  

							
	 EPS Targets
	  	EPS

	  	Award

	 Threshold
	  	$	_____	  	$	_____
	 Target
	  	$	_____	  	$	_____
	 Maximum
	  	$	_____	  	$	_____
			
	 EVA Targets
	  	 

	Cum EVA

	  	 	 
	 Threshold
	  	$	_____	  	$	_____
	 Target
	  	$	_____	  	$	_____
	 Maximum
	  	$	_____	  	$	_____
			
	 Business Unit OI Targets
	  	 

	OI

	  	 	 
	 Threshold
	  	$	_____	  	$	_____
	 Target
	  	$	_____	  	$	_____
	 Maximum
	  	$	_____	  	$	_____

  
 Performance falling
between threshold and maximum will be pro rated on a linear basis. 
  
 No payments will be made if performance falls below threshold. Each of the performance measures is free standing so that you will be able to earn a payout based upon the achievement of one measure, even if the threshold performance level is
not achieved in the other measure. 
  
 Calculation of the Company
results and attainment of performance measures will be made solely by the Compensation Committee based upon the Company’s audited financial statements. The Compensation Committee has the right to make changes and adjustments in calculating the
performance measures to take into account unusual or non-recurring events, including, without limitation, changes in tax and accounting rules and regulations; 

 
extraordinary gains and losses; mergers and acquisitions and purchases or sales of substantial assets; provided that, if Section 162(m) would be applicable
to the pay-out of the Awards hereunder, any such change or adjustment must be permissible under Section 162(m). 
  
 The determination of the attainment of performance objectives and the amount of the Awards payable will generally be finalized at the Board of Directors and/or Compensation Committee Meeting
immediately following the end of the three-year award period. Payments will then be made within a reasonable time after finalization by the Committee, unless there is a need for a delay. 
  
 Unless the Committee elects a different form of pay-out, payments will be made 50% in cash and 50% in Company stock, based
upon the then current share price at the time of pay-out. The Committee may adopt provisions permitting the deferral of a portion or all of the payout into a Deferred Compensation Plan, provided that a timely deferral election is made. The Company
may require payment of, or may withhold from payments, amounts necessary to meet any federal, state or local tax withholding requirements. 
  
 In general, termination of employment terminates Awards. Termination for reasons of death, disability or retirement will result in a pro rata pay-out for
performance periods ending within 24 months after termination based on the number of months of employment completed by the Participant during the performance period before the effective date of Termination. No payout will be made for performance
periods ending more than 24 months after termination. Termination for any other reason will result in the loss of all claims on Awards from the Plan. 
  
 The provisions of the Long-Term Incentive Plan are incorporated herein by reference and a copy is available at your request. 
  
 If you have any questions about the Awards, please direct them to
                                . 
  
 Very truly yours,Fifteenth Amendment to the Amended and Restated Credit Agreement

 [EXECUTION COPY] 
  
 Exhibit 10.1 
  
 This AMENDMENT, dated as of June 21, 2005 (this “Fifteenth Amendment”), is among FIBERNET TELECOM GROUP, INC., a Delaware corporation
(the “Parent”), FIBERNET OPERATIONS, INC., a Delaware corporation (“FiberNet”), DEVNET L.L.C., a Delaware limited liability company (together with FiberNet, the “Borrowers”), the financial
institutions party to the Credit Agreement (as defined below) as lenders (collectively, the “Lenders”), and DEUTSCHE BANK AG NEW YORK BRANCH, as administrative agent for the Lenders (in such capacity, the “Administrative
Agent”), and relates to (1) the Amended and Restated Credit Agreement, dated as of February 9, 2001 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among the
Borrowers, the Lenders, the Administrative Agent, TD Securities. (USA) Inc., as syndication agent for the Lenders, and Wachovia Investors, Inc., as documentation agent for the Lenders, and (2) the Amended and Restated Parent Guaranty Agreement,
dated as of February 9, 2001 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Parent Guaranty Agreement”), by the Parent in favor of the Administrative Agent for the benefit of each of
the Secured Parties. Capitalized terms used but not defined herein shall have the meanings given to such terms in the Credit Agreement. 
  
 RECITALS 
  
 WHEREAS, Parent and the Borrowers have requested an extension of the date by which Parent must have consummated the Equity Issuance from June 23, 2005 to
July 15, 2005. 
  
 WHEREAS, such extension is subject to the prior
approval of the Majority Lenders, and the Lenders are willing to approve such extension on the terms and subject to the conditions contained herein. 
  
 AGREEMENT 
  
 NOW, THEREFORE, in consideration of the premises and the mutual agreements herein contained, and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, agree as follows: 
  
 ARTICLE I. 
 AMENDMENTS

  
 Section 1.01 Amendments to the Credit Agreement.
The Credit Agreement is hereby amended as follows: 
  
 (a) Section 1.1 shall be amended by adding the following new defined term in the appropriate alphabetical order: 

 “Fifteenth Amendment” means the Amendment, dated as of June 21, 2005,
2005, among the Parent, the Borrowers, the Lenders and the Administrative Agent, which amends the Credit Agreement and the Parent Guaranty Agreement. 
  
 (b) Section 7.20 of the Credit Agreement is amended by (i) deleting the words “Chief Executive Officer” in the second and
third lines thereof and replacing them in each case with the words” Chair of the Board” and (ii) deleting the words “executive management” in the fourth line thereof. 
  
 Section 1.02 Amendments to the Parent Guaranty Agreement. Section 4.4 of the Parent Guaranty Agreement is hereby
amended by deleting “June 23, 2005” in the first line thereof and inserting “July 15, 2005” in its place. 
  
 ARTICLE III. 
 MISCELLANEOUS

  
 Section 4.01 Execution of this Fifteenth Amendment.

  
 This Fifteenth Amendment is executed and shall be construed
as an amendment to the Credit Agreement and the Parent Guaranty Agreement, and, as provided in the Credit Agreement and the Parent Guaranty Agreement, this Fifteenth Amendment forms a part thereof. This Fifteenth Amendment shall become effective
only upon the payment of any fees or expenses then due and payable to the Administrative Agent. 
  
 Section 4.02 Representations and Warranties. 
  
 (a) The Borrowers hereby represent and warrant to the Administrative Agent and the Lenders that (a) all consents, approvals and authorizations necessary
for the Borrowers’ execution, delivery and performance of this Fifteenth Amendment have been obtained or made, (b) this Fifteenth Amendment has been duly executed and delivered by the Borrowers and constitutes a legal, valid and binding
obligation of each Borrower, enforceable against such Borrower in accordance with its terms, (c) the representations and warranties of the Borrowers set forth in Article IV of the Credit Agreement are true and correct in all material respects
as of the date hereof and (d) no Event of Default or Potential Event of Default has occurred and is continuing as of the date hereof. 
  
 (b) The Parent hereby represents and warrants to the Administrative Agent and the Lenders that (a) all consents, approvals and authorizations necessary
for the Parent’s execution, delivery and performance of this Fifteenth Amendment have been obtained or made, (b) this Fifteenth Amendment has been duly executed and delivered by the Parent and constitutes a legal, valid and binding obligation
of the Parent, enforceable against such Parent in accordance with its terms and (c) the representations and warranties of the Parent set forth in Article III of the Parent Guaranty Agreement are true and correct in all material respects as of
the date hereof. 
  
 Section 4.03 Waiver. 
  
 This Fifteenth Amendment is made in amendment and modification of, but not
extinguishment of, the obligations set forth in the Credit Agreement, the Parent Guaranty Agreement and the other Loan Documents and, except as specifically modified pursuant 
  

 2 

 to the terms of this Fifteenth Amendment, the terms and conditions of the Credit Agreement, the Parent Guaranty Agreement
and the other Loan Documents remain in full force and effect. Nothing herein shall limit in any way the rights and remedies of Administrative Agent and the Lenders under the Credit Agreement, the Parent Guaranty Agreement and the other Loan
Documents. The execution and delivery by the Lenders of this Fifteenth Amendment shall not constitute a waiver, forbearance or other indulgence with respect to any Potential Event of Default or Event of Default now existing or hereafter arising.

  
 Section 4.04 Counterparts, Integration; Effectiveness.

  
 This Fifteenth Amendment may be executed in counterparts (and
by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Fifteenth Amendment and any agreements referred to herein constitute
the entire contract among the parties hereto relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. In addition to the requirements set forth
above in Section 4.01, this Fifteenth Amendment shall become effective when it shall have been executed by each of the Parent, each of the Borrowers and each of the Lenders, and thereafter shall be binding upon and inure to the benefit of the
parties hereto and, subject to and in accordance with Section 9.16 of the Credit Agreement, their respective successors and assigns. Delivery of an executed counterpart of a signature page of this Fifteenth Amendment by telecopy shall be as
effective as delivery of a manually executed counterpart of this Fifteenth Amendment. 
  
 Section 4.05 Severability. 
  
 Any provision of this Fifteenth Amendment held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the
validity, legality or enforceability of the remaining provisions hereof, and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 
  
 Section 4.06 Governing Law. 
  
 This Fifteenth Amendment shall be construed in accordance with and governed
by the laws of the State of New York without regard to the conflicts of law provisions thereof, other than Sections 5-1401 and 5-1402 of the General Obligations Law of the State of New York. 
  
 Section 4.07 Headings. 
  
 Article and Section headings used herein are for convenience of reference
only, are not part of this Fifteenth Amendment and shall not affect the construction of, or be taken into consideration in interpreting, this Fifteenth Amendment. 
  

 3 

 Section 4.08 Acknowledgment of Parent and Borrowers. 
  
 Each of Parent and the Borrowers acknowledges and agrees that: (i)
notwithstanding the express provisions of the Credit Agreement that require consummation of the Equity Issuance by the issuance of equity pursuant to a securities purchase agreement in form and substance satisfactory to the Administrative Agent and
the Lenders, Parent and Borrowers have requested that the Administrative Agent and the Lenders consider accepting subordinated convertible debt in lieu of such equity, (ii) the Administrative Agent and the Lenders have no duty or obligation to
accept such subordinated debt in lieu of such equity, and (iii) any decision by the Administrative Agent and the Lenders to accept such subordinated convertible debt in lieu of such equity with respect to the Equity Issuance shall be at the sole and
absolute discretion of the Administrative Agent and the Lenders. Without limiting such discretion, each of Parent and the Borrowers further acknowledges and agrees that no such subordinated debt shall be acceptable to the Administrative Agent and
the Lenders unless, among other things: (a) the Net Proceeds arising from such subordinated debt and the amount thereof that is applied to prepay the Loans and permanently reduce the Commitments in accordance with Section 2.5C of the Credit
Agreement are acceptable to the Administrative Agent and the Lenders in their sole and absolute discretion; and (b) the documents evidencing such subordinated debt contain subordination provisions that include, among other things—(w) absolute
prohibitions on (I) the payment of any such subordinated debt (whether principal, interest, fees or other amount) until the Obligations (or any refinancing of the Credit Agreement) have been indefeasibly paid in full in cash and (II) any Lien or
other collateral securing such subordinated debt, (x) the agreement by the holders of such subordinated debt not to challenge the validity or enforceability of any Obligation or the Lien of the Administrative Agent in any Collateral, (y) waivers by
the holders of such subordinated debt of rights that would arise in any bankruptcy, insolvency or similar proceeding involving Parent or any Borrower, and (z) such other terms and conditions as the Administrative Agent and the Lenders may, in their
sold and absolute discretion require. 
  
 [REMAINDER OF PAGE
INTENTIONALLY LEFT BLANK] 
  

 4 

 [EXECUTION COPY] 
  
 IN WITNESS WHEREOF, the parties hereto have caused this Fifteenth Amendment to be duly executed by their respective
authorized officers as of the day and year first above written. 
  

			
	 FIBERNET TELECOM GROUP, INC.

		
	 By:
	 	 
	 Name:
	 	 
	 Title:
	 	 

  

			
	 FIBERNET OPERATIONS, INC.

		
	 By:
	 	 
	 Name:
	 	 
	 Title:
	 	 

  

			
	 DEVNET L.L.C.

		
	 By:
	 	 
	 Name:
	 	 
	 Title:
	 	 

  

			
	 DEUTSCHE BANK AG NEW YORK
 BRANCH, as Administrative Agent and as a
 Lender

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

			
	 WACHOVIA INVESTMENT HOLDINGS,
 LLC., as a Lender

		
	 By:
	 	 
	 Name:
	 	 
	 Title:
	 	 
	
	 IBM CREDIT LLC, as a Lender

		
	 By:
	 	 
	 Name:
	 	 
	 Title:

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