Document:

Letter Agreement, dated October 18, 2010 between VMI and William Huff

 Exhibit 10.21 

 

 

 October 18, 2010 
 Mr. William R. Huff 
 [ADDRESS] 
 Dear Mr. Huff, 
 Re: Your Virgin Media Inc. (the “Company”)
Non-Qualified Stock Option Notices 
 The purpose of this letter is to amend your Virgin Media Inc. Non-Qualified Stock Option Notices dated
as of April 11, 2003, March 16, 2006, June 10, 2009, June 15, 2009 and June 9, 2010 (the “Option Notices”). 
 Pursuant to the terms of the 2003 Virgin Media Inc. Stock Option Plan (fka as the NTL Incorporated 2003 Stock Option Plan), the Virgin Media Inc. 2004 Stock Incentive Plan (fka as the Telewest Global,
Inc. 2004 Stock Incentive Plan), and the Virgin Media Inc. 2006 Stock Incentive Plan, and the action of the Company’s Compensation Committee taken on 18 October, 2010, Section 5 of each of the Option Notices is hereby amended to read
as follows: 
 “5. Transferability 
 Except as set forth in the following paragraphs, neither the Option nor any interest in the Option may be transferred other than by will or the laws of descent or distribution and the Option may be
exercised during your lifetime only by you or your guardian or legal representative. 
 Subject to the conditions set forth below, all or part
of your Option may be transferred to members of your “immediate family” as defined below, to a trust or trusts maintained solely for your benefit and/or for the benefit of members of your “immediate family”, or to a partnership
or partnership whose only partners are you and/or the members of your “immediate family”. All such transfers must be without any consideration therefor, can only be implemented after providing written notice to the General Counsel of the
Company, and must be conditioned on the transferee agreeing to be subject to the terms of this Notice and all Company restrictions and reporting requirements that would apply to you if you continued to hold the Option. Any transfer of an Option that
has not yet vested shall require the express consent of the Company’s Compensation Committee. Any subsequent transfer of an Option by the transferee may only be made to persons to whom you could have transferred the Option under the terms of
this Section 5 and shall be on the same terms and subject to the same conditions as the foregoing. 
 For purposes of this Section 5,
your “immediate family” shall mean any of your children, stepchildren, grandchildren, parents, stepparents, grandparents, spouse, former spouses, siblings, nieces, nephews, mother-in-law, father-in-law, son-in-law, daughter-in-law,
brother-in-law or sister-in-law, including adoptive relationships, any person sharing your household (other than a tenant or employee), a trust in which these persons have more than fifty percent of the beneficial interest, a foundation in which you
or these persons control the management of assets, and other entity in which you or these persons own more than fifty percent of the voting interests. 
 Virgin Media Inc, 909 Third Avenue, Suite 2863, New York, NY 10022, United States 

t: (212) 906 8440 f: (212) 752 1157 
 virginmedia.com 

 Please execute the enclosed copy of this letter to indicate your acceptance of these terms, and upon such
execution this amendment shall be a binding agreement between us. 
  

			
	Sincerely,
	
	Virgin Media Inc.
		
	By:	 	 /s/ Bryan Hall

		 	Bryan Hall
		 	General Counsel

  

	
	Accepted and Agreed:
	
	 /s/ William Huff

	William R. Huff

 Virgin Media Inc, 909 Third
Avenue, Suite 2863, New York, NY 10022, United States 
 t: (212) 906 8440 f: (212) 752 1157 

virginmedia.com 

  
 - 2 -Letter Agreement, dated October 18, 2010 regarding transfer of options

 Exhibit 10.22 
 18 October 2010 
 [Huff Trust] 

[Address] 
 Virgin Media
Inc. 
 909 Third Avenue, Suite 2863 

New York, New York 10022 
 Re:
Virgin Media Inc. (the “Company”) Non-Qualified Options 
 Dear Sir or Madam: 

William R. Huff has proposed to transfer to the undersigned non-qualified options to acquire Virgin Media Inc. common stock (“Shares”) as set
out on Exhibit A to this letter (the “Options”). The Options have been issued to Mr. Huff pursuant to Non-Qualified Option Notices dated as of [April 11, 2003, March 16, 2006, June 10, 2009 and June 15, 2009]
(the “Option Notices”. The Option Notices have been issued pursuant to the terms of the [2003 Virgin Media Inc. Stock Option Plan (fka as the NTL Incorporated 2003 Stock Option Plan), the Virgin Media Inc. 2004 Stock Incentive Plan (fka as
the Telewest Global, Inc. 2004 Stock Incentive Plan), and the Virgin Media Inc. 2006 Stock Incentive Plan] (the “Plans”). The Option Notices have been amended by the action of the Company’s Compensation Committee taken on
18 October, 2010 (the “Amendment”). I have received and reviewed copies of the Plans, the Notices and the Amendment. 
 In
consideration of the Company’s agreement to permit Mr. Huff to transfer the Options to the undersigned, I agree to be bound by the terms of the Plan and the Option Notices, as amended by the Amendment. I agree that I will be subject to the
same restrictions, requirements and Company policies to which Mr. Huff would have been subject if he continued to hold the Options, including the requirements to make filings with the Securities and Exchange Commission and pre-clear any sale of
the Shares. I also agree that, in the event that I should transfer the Options, I shall do so only in compliance with the Plan and Notices, as so amended, and subject to the precondition that the transferee shall entered into an agreement with the
Company on the same terms as this letter (but limited to those Options being so transferred). 

 My signature below evidences my binding agreement to the foregoing. Except as to matters of federal law,
this letter agreement shall be governed by the laws of the State of New York without giving effect to conflicts of laws principles thereof. 
  

			
	Sincerely,
	
	[HUFF TRUST]
		
	By:	 	  

 

			
	Accepted and Agreed:
	
	VIRGIN MEDIA INC.
		
	By:	 	  

  
 2Schedule B to the Virgin Media Inc. 2010 Stock Incentive Plan

 Exhibit 10.29 
 SCHEDULE B 
 JOINT STOCK OWNERSHIP PLAN SUB-PLAN 

SCHEDULE TO THE VIRGIN MEDIA INC 2010 STOCK INCENTIVE PLAN 
  

	1	DEFINITIONS AND INTERPRETATION 

  

	1.1	In this Schedule and the Employee Joint Ownership Agreement (as defined below), Plan refers to the Virgin Media Inc. 2010 Stock Incentive Plan, and unless otherwise
stated, words and expressions defined in the Plan shall have the same meaning when used in this Schedule. 

  

	1.2	For the purposes of this Schedule and the Employee Joint Ownership Agreement, Section 2 (Definitions) shall be extended to include the following:

  

					
	“Employee Joint Ownership Agreement”	  	means an agreement made between the Corporation and an Eligible Individual pursuant to this Schedule, which shall contain such restrictions, terms and conditions as the
Committee may, in its discretion, determine;
		
	“Exercise”	  	a request by the Second Owner for the First Owner to acquire his or her Interest by way of exchange in accordance with Clauses 10 or 11 of the Employee Joint Ownership
Agreement, and Exercised shall be construed accordingly;
		
	“First Owner”	  	means the Trustee;
		
	“Grantor”	  	means the Corporation;
		
	“Interest”	  	means a joint interest in Shares in the capital of the Corporation acquired by an Eligible Individual pursuant to an Employee Joint Ownership Agreement;
		
	“Invitation”	  	means an invitation from the Grantor to a Participant to acquire an Interest given pursuant to Paragraph 2.1;
		
	“JSOP Award”	  	means:-
			
		  	    A.	  	the acquisition of an Interest in Shares pursuant to the Rules of the Plan and this Schedule and subject to the terms of an Employee Joint
Ownership

  
 1 

					
		  		  	Agreement; and
			
		  	    B.	  	the grant of a Supplementary Award.
		
	“JSOP Award Date”	  	means the date on which an Eligible Individual executes the Employee Joint Ownership Agreement following receipt of an Invitation and is granted a Supplementary
Award;
		
	“RSU Agreement”	  	an Agreement (having the meaning given to it in the Plan) evidencing the grant of a Supplementary Award and setting forth the terms and conditions
thereof;
		
	“Second Owner”	  	means the Participant who is granted an Interest under the terms of the Employee Joint Ownership Agreement, this Schedule and the Plan;
		
	“Supplementary Award”	  	an Award of Restricted Stock Units made pursuant to the terms of this Schedule and the Plan;
		
	“Trustee”	  	the trustee or trustees for the time being of the Virgin Media Inc Grantor Trust; and
		
	“Vest”	  	in this Schedule and in any related Employee Joint Ownership Agreement only, means in relation to an Interest the date on which the Participant may Exercise the Interest
and “Vests”, “Vesting” and “Vested” shall be construed accordingly.

  

	2	GRANT OF AWARD 

Participation 
  

	2.1	Subject to Section 4 of the Plan the Grantor may, at any time, invite one or more Eligible Individuals, together with the Trustees, to acquire an Interest by
subscribing jointly for a given number of Shares on, and subject to the terms of an Employee Joint Ownership Agreement. 

  

	2.2	The Grantor may also grant a Supplementary Award to such Eligible Individuals who acquire an Interest (or part thereof) as it may in its absolute discretion determine.

 Acquisition of an Interest in Shares 

 

	2.3	Where an Eligible Individual receives an Invitation: 

  
 2 

	 	2.3.1	The Eligible Individual may accept the Invitation (and acquire an Interest) by executing a Employee Joint Ownership Agreement and by complying with Clause 3 of the
Employee Joint Ownership Agreement. Failure so to comply shall cause the Invitation to lapse in which case the Invitation will be deemed for all purposes not to have been given; 

 

	 	2.3.2	Until the Eligible Individual has accepted an Invitation pursuant to Paragraph 2.3.1 and the Compensation Committee has approved the Eligible Individual’s
acquisition of the Interest, the Eligible Individual shall have no rights to an Interest nor any rights under the Plan; and 

  

	 	2.3.3	To the extent that a valuation of any Interest in the Shares is to be agreed with HM Revenue & Customs in connection with the provisions of the Income Taxes
(Earnings and Pensions) Act 2003 (“ITEPA”), the conduct of such valuation shall be undertaken by the Corporation. 

 Supplementary Award 
  

	2.4	A Supplementary Award may only be granted to an Eligible Individual and such grant is conditional upon the acquisition by the Eligible Individual of a related Interest
as set out in Paragraph 2.3.1. Until the Eligible Individual has accepted an Invitation pursuant to Paragraph 2.3.1 and the Compensation Committee has approved the Eligible Individual’s acquisition of the Interest, the Eligible Individual shall
have no rights to a Supplementary Award nor any rights under the Plan. 

  

	2.5	The grant of a Supplementary Award shall be evidenced by execution of an RSU Agreement 

 

	2.6	No payment by the Participant shall be required on the grant of a Supplementary Award. 

Conditions 
  

	2.7	Where the JSOP Award is in the form of an Interest, the Participant and the Corporation or Subsidiary Corporation (as relevant) shall, on the JSOP Award Date and as a
condition of the JSOP Award being made, enter into a joint election in respect of any Award in accordance with section 431 of ITEPA to disapply in full the restricted securities legislation contained in Chapter 2 of Part 7 of ITEPA.

  

	2.8	The Grantor may determine, on or before the JSOP Award Date, that the right to a Supplementary Award is conditional on the Participant: 

  
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	 	2.8.1	entering into a NIC Election; or 

  

	 	2.8.2	agreeing that an existing NIC Election shall cover the Supplementary Award. 

 

	2.9	Every JSOP Award shall be personal to the Participant to whom it is granted and shall not be assigned, transferred or charged in any way (except as provided in any
Employee Joint Ownership Agreement or RSU Agreement or the Plan). 

  

	3	VESTING OF AWARDS 

Determination of Vesting 
  

	3.1	As soon as reasonably practicable after the end of any specified period of time in relation to the conditions of Vesting applicable to an Interest (or part thereof),
the Board shall determine the extent to which such conditions have been met. 

 Cessation of Employment or
Office 
  

	3.2	If a Participant ceases to hold office or employment with the Corporation or a Subsidiary Corporation, a certificate issued by the Corporation as to the reason why the
Participant ceased to be a director, officer or employee shall be conclusive. 

  

	3.3	For the purposes of this Paragraph 3, no person shall be treated as ceasing to hold an office or employment with the Corporation or a Subsidiary Corporation until that
person no longer holds an office or employment with the Corporation or a Subsidiary Corporation. 

  

	3.4	For the purposes of this Paragraph 3, if the Committee so determines, a Participant will not be treated as ceasing to hold an office or employment with the Corporation
or a Subsidiary Corporation if such Participant is on an extended leave of absence, until the earlier of the date on which he notifies his employer of his intention not to return or the date on which he ceases to have any statutory or contractual
rights to return to work. 

  

	4	TAX LIABILITY 

 Each
Participant shall be responsible for, and indemnifies the Corporation and the Trustee against, all Relevant Tax relating to his Award. The Corporation, or a Subsidiary Corporation, and/or the Trustee may withhold an amount equal to such Relevant Tax
from any amounts due to the Participant (to the extent such withholding is lawful) and/or make any other arrangements as it considers appropriate to ensure recovery of such Relevant Tax including, without limitation, the sale of sufficient Shares
acquired pursuant to the JSOP Award to realise an 

  
 4 

 
amount equal to the Relevant Tax (and the payment of that amount to the relevant authorities in satisfaction of the Relevant Tax). 

  
 5

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