Document:

exv10w5

 

Exhibit 10.5

AMENDED AND RESTATED EXECUTIVE SUPPLEMENTAL

RETIREMENT PLAN AGREEMENT

     THIS AMENDED AND RESTATED EXECUTIVE SUPPLEMENTAL RETIREMENT PLAN AGREEMENT (this “Agreement”)
is made and entered into as of this 13th day of December, 2006, by and between Sandy Spring Bank, a
Maryland corporation, with its main office in Olney, Maryland (the “Bank”), and John G. Warner (the
“Executive”).

     WHEREAS, the Executive and County National Bank (“CNB”) are parties to an Executive
Supplemental Retirement Plan Agreement originally effective as of June 3, 2002 (the “SERP”);

     WHEREAS, the Bank and CNB have executed an Agreement and Plan of Merger; and

     WHEREAS, upon the effectiveness of the merger of CNB into the Bank (the “Merger”), the
Executive and the Bank desire to amend and restate the SERP in its entirety, as hereinafter
provided.

     NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, it is
agreed as follows:

     1. Amendment and Restatement. This Agreement is conditioned upon, and shall not take
effect until, the Merger is effective, in which event, as of the effective date of the Merger, this
Agreement shall amend and restate the SERP in its entirety.

     2. Payments Upon Retirement. Upon the Executive’s termination of employment from the
Bank for any reason, other than death, the Executive shall receive 120 equal monthly payments,
without interest or other earnings, of $1,506.56 each, the first of which shall be paid 30 days
after the date of the Executive’s termination of employment.

     3. Payments Upon Death. In the event of the death of the Executive, the following
provisions shall be applicable:

          A. If the Executive shall die before any payments are made pursuant to Section 2, no
payments shall be made pursuant to Section 2, and in lieu thereof, a death benefit in the amount of
$180,787 shall be payable.

          B. If the Executive shall die after installment payments have commenced pursuant to
Section 2, no further payments shall be made pursuant to Section 2, and in lieu thereof, a death
benefit in the amount of $180,787, reduced by the aggregate amount of all installments paid
pursuant to Section 2, shall be payable.

          C. A payment pursuant to Section 3A or 3B shall be made in a lump sum and shall be
paid to the executor of the Executive’s estate no later than 60 days after the date of the
Executive’s death.

     4. Obligations To Be Unsecured. The Bank and the Executive understand and agree that
the Bank’s obligations under this Agreement shall not be secured in any manner and that the
Executive’s rights hereunder shall be treated in the same manner as the rights of any other
unsecured creditor of the Bank. Accordingly, the Bank shall not be required to reserve or
otherwise set aside, physically or legally, any funds for the payment of its obligations hereunder.
Neither the Executive, nor any other person shall be deemed to have any property interest, legal
or equitable, in any specific asset of the Bank as a result of entering into this Agreement and, to
the extent that any person acquires any rights to receive payment under the provisions of this
Agreement, such rights shall be no greater than, nor shall they have any preference or priority
over, the rights of any unsecured creditor of the Bank.

     5. Non-Alienation Provision. Neither the Executive nor any other person or persons
who may become entitled to payment of any amount under this Agreement shall have any right to
anticipate, commute, pledge, encumber, alienate, sell, transfer, assign or otherwise dispose of the
right to receive payments hereunder, all

 

 

of which payments and the rights thereto are expressly hereby declared to be non-assignable
and not subject to the debts, contracts, liabilities, engagements or torts of the Executive or such
persons.

     6. Withholding of Taxes. The Bank shall have the right to withhold from all amounts
payable pursuant to this Agreement any Federal, state, local or other taxes of any kind required by
law to be withheld.

     7. Right of Set-Off. By execution of this Agreement, the Executive consents to a
deduction from any amounts the Bank may owe the Executive pursuant to this Agreement, any and all
amounts owed by the Executive to the Bank at the time that payment from the Bank to the Executive
is due.

     8. No Employment Rights. This Agreement shall not constitute an agreement of
employment and does not give the Executive the right to continue in the employ of the Bank or
otherwise interfere with the right of the Bank to terminate the employment of the Executive at any
time.

     9. Amendments. This Agreement shall not be amended, modified or terminated otherwise
than by a written agreement executed by the parties hereto or their respective successors, assigns
and legal representatives.

     10. Notices. All notices and other communications hereunder shall be in writing and
shall either be hand delivered, with receipt therefor, or sent by Federal Express or other
nationally recognized courier, or by certified or registered mail, postage prepaid, return receipt
requested, to the Executive at his most recent address shown on the Bank’s records, and to the
Bank, at the Bank’s principal office. A notice that is sent by Federal Express or other nationally
recognized courier or that is sent by certified or registered mail will be deemed given on the
earlier of the date the notice is received by the addressee or five (5) business days after the
date the notice is delivered to the designated address. Either party may change the address to
which notices or other communications are to be delivered to them hereunder by giving written
notice to the other party as provided in this paragraph.

     11. Headings. Section headings and numbers have been inserted for convenience of
reference only and in no way define or limit the scope or content of this Agreement or in any way
affect the interpretation of its provisions.

     12. Entire Agreement. This Agreement contains all of the terms and conditions agreed
upon by the parties with respect to the subject matter hereof and supersedes all prior agreements,
arrangements and communications between the parties (including, without limitation, the SERP and
any and all amendments thereto) concerning such subject matter whether oral or written.

     13. Applicable Law. This Agreement shall be governed by and construed in accordance
with the laws of the State of Maryland, without regard to conflicts of laws principles thereof.

     14. Severability. The provisions of this Agreement shall be deemed severable, and the
invalidity of any portion hereof shall not affect the validity of the remainder thereof.

     15. Binding Agreement. This Agreement shall be binding upon and shall inure to the
benefit of the parties hereto, and their respective heirs, legatees, beneficiaries, personal
representatives and other legal representatives, successors and assigns.

     16. Counterparts. This Agreement may be executed in counterparts, each of which shall
be deemed an original, but both of which together shall constitute one and the same instrument.

2

 

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date first set
forth above.

	 	 	 	 	 
	 	SANDY SPRING BANK, a Maryland corporation

 	 
	 	By:  	/s/ Hunter R. Hollar
 	 
	 	Title: President and CEO 	 
	 	 	 	 
	 
	 	EXECUTIVE

 	 
	 	/s/ John G. Warner
 	 
	 	John G. Warner 	 
	 	 	 
	 

3exv10w1

 

Exhibit 10.1

    XO
    COMMUNICATIONS, LLC

 

    WAIVER

 

    WITH RESPECT TO

 

    AMENDED AND RESTATED CREDIT AND GUARANTY AGREEMENT

 

    This Waiver (“Waiver”), dated as of March 6,
    2007, with respect to the Amended and Restated Credit and
    Guaranty Agreement, dated January 16, 2003 (as amended,
    supplemented or otherwise modified, through the date hereof, and
    as it may be further amended, supplemented or otherwise
    modified, the “Credit Agreement”), by and among XO
    Communications, LLC, a Delaware limited liability company (the
    “Company,” as successor by merger to XO
    Communications, Inc., a Delaware corporation), certain
    affiliates and subsidiaries of the Company, as Guarantors, the
    Lenders party thereto from time to time and Mizuho Corporate
    Bank, Ltd., as administrative agent (the “Administrative
    Agent”).

 

    RECITALS

 

    A.  Capitalized terms used herein without definition
    shall have the same meanings herein as set forth in the Credit
    Agreement.

 

    B.  Pursuant to Section 10.5 of the Credit
    Agreement, the Requisite Lenders have the right to waive any
    provision of the Credit Documents or consent to any departure of
    any Credit Party therefrom or may take any action contemplated
    in the Credit Documents and such waiver shall be effective upon
    the written concurrence of the Requisite Lenders.

 

    C.  The Lenders executing this Waiver constitute the
    Requisite Lenders pursuant to Section 1.1 of the Credit
    Agreement.

 

    D.  The Company anticipates that it will not be in
    compliance with Section 6.6(b) of the Credit Agreement for the
fiscal quarter ended December 31, 2007.

 

    E.  The Requisite Lenders desire to waive compliance
    by the Company with the requirements of Section 6.6(b) of
    the Credit Agreement on the terms and for the periods set forth
    herein.

 

    NOW, THEREFORE, in consideration of the promises and the mutual
    covenants and agreement herein contained, the parties hereto
    hereby agree as follows:

 

    WAIVER

 

    1.  Effective as of the date of this Waiver, the
    Requisite Lenders hereby waive compliance by the Company and the
    Guarantors with the requirements of Section 6.6(b) of the
    Credit Agreement for the fiscal quarter ended December 31,
    2007.

 

     2.    Except
as expressly provided herein, (a) the execution, delivery and
performance of this Waiver shall not constitute a waiver of any
provision of, or operate as a waiver of any right, power or remedy of
the Administrative Agent or any Lender under the Credit Agreement or
any other Credit Document and (b) the Credit Agreement and the
other Credit Documents shall remain in full force and effect and are
hereby ratified and confirmed.

     3.    This
Waiver and the rights and obligations of the parties hereunder shall
be governed by, and shall be construed and enforced in accordance
with, the internal laws of the State of New York, without regard to
conflicts of laws principles.

     4.    This
Waiver may be executed in any number of counterparts and by different
parties hereto in separate counterparts, each of which when so
executed and delivered shall be deemed an original, but all such
counterparts together shall constitute but one and the same
instrument, signature pages may be detached from multiple separate
counterparts and attached to a single counterpart so that all
signature pages are physically attached to the same document.

[remainder
of page intentionally left blank]

 

 

     IN
WITNESS WHEREOF, the Requisite Lender has caused this Waiver to be
duly executed and delivered by its respective officers thereunto duly
authorized as of the date first written above.

	 	 	 	 	 
	 	LENDER:

ARNOS CORP.	 
	 
	 	By:  	/s/
Edward Mattner	 
	 	 	Name:  	Edward Mattner	 
	 	 	Title:  	Vice President	 
	 
	 
	 
	 	Agreed and Acknowledged:

XO COMMUNICATIONS, LLC	 
	 
	 	By:  	/s/
Gregory W. Freiberg	 
	 	 	Name:  	Gregory W. Freiberg	 
	 	 	Title:  	CFO	 

 

    GUARANTORS:

 

    XO HOLDINGS, INC.

    LMDS HOLDINGS, INC.

    COAST TO COAST TELECOMMUNICATIONS, INC.

    LHP EQUIPMENT, INC.

    TELECOMMUNICATIONS OF NEVADA, LLC

    V&K HOLDINGS, INC.

    XO ASIA LIMITED

    XO COMMUNICATIONS SERVICES, INC.

    XO DATA SERVICES, LLC

    XO GLOBAL COMMUNICATIONS, INC.

    XO INTERACTIVE, INC.

    XO INTERCITY HOLDINGS NO. 1, LLC

    XO INTERCITY HOLDINGS NO. 2, LLC

    XO INTERNATIONAL HOLDINGS, INC.

    XO INTERNATIONAL, INC.

    XO LONG DISTANCE SERVICES (VIRGINIA), LLC

    XO MANAGEMENT SERVICES, INC.

    XO MANAGEMENT SERVICES, NEVADA, INC.

    XO MINDSHARE, LLC

    XO NEVADA MERGER SUB, INC.

    XO SERVICES, INC.

    XO VIRGINIA, LLC

 

			
	 	    By: 
	
    /s/  Gregory
    W. Freiberg

    Name:  Gregory W. Freiberg

    Title:    CFO

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