Document:

Exhibit 10.16 - Fifth Amendment to Restated Receivables Purchase Agreement

FIFTH AMENDMENT TO
AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT
THIS FIFTH AMENDMENT TO AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT (this “Amendment”), dated as of September 13, 2013, is entered into among CINCINNATI BELL FUNDING LLC (the “Seller”), CINCINNATI BELL INC., as Servicer (the “Servicer”), and as Performance Guarantor (the “Performance Guarantor”), MARKET STREET FUNDING LLC (“Market Street”), as Assignor (as defined below), the Purchasers and Purchaser Agents parties hereto and PNC BANK, NATIONAL ASSOCIATION (“PNC”), as administrator for each Purchaser Group (the “Administrator”), and as Assignee (as defined below).
RECITALS
1.The parties hereto are parties to the Amended and Restated Receivables Purchase Agreement, dated as of June 6, 2011 (as amended, amended and restated, supplemented or otherwise modified through the date hereof, the “Agreement”). 
2.Concurrently herewith, the Seller, the Servicer, the Administrator, the LC Bank, PNC and Regions are entering into that certain Fourth Amended and Restated Fee Letter, dated as of the date hereof (the “Amended Fee Letter”).
3.Market Street, as the assignor (in such capacity, the “Assignor”), desires to sell, assign and delegate to PNC, as the assignee (in such capacity, the “Assignee”), all of the Assignor’s rights under, interest in, title to and obligations under the Agreement and the other Transaction Documents (collectively, the “Assigned Documents”), and the Assignee desires to purchase and assume from the Assignor all of the Assignor’s rights under, interest in, title to and obligations under the Assigned Documents.
4.After giving effect to the assignment and assumption contemplated in Section 2 of this Amendment, each of the parties hereto desires that Market Street cease to be a party to the Agreement and each of the other Assigned Documents to which it is a party and to be discharged from its duties and obligations as a Purchaser or otherwise under the Agreement and each of the other Assigned Documents.
5.The parties hereto desire to amend the Agreement as hereinafter set forth.
NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:
SECTION 1.Certain Defined Terms.  Capitalized terms that are used but not defined herein shall have the meanings set forth in the Agreement.

SECTION 2.Assignment and Assumption.
2.1Sale and Assignment by Assignor to Assignee.  At or before 2:00 pm (New York time) on the date hereof, the Assignee shall pay to the Assignor, in immediately available funds, (i) the amount set forth on Schedule I hereto (such amount, the “Capital Payment”) representing 100.00% of the aggregate Capital of the Assignor under the Agreement on the date hereof and (ii) the amount set forth on Schedule I hereto representing all accrued but unpaid (whether or not then due) Discount, Fees and other costs and expenses payable in respect of such Capital to but excluding the date hereof (such amount, the “CP Costs and Other Costs”; together with the Capital Payment, collectively, the “Payoff Amount”).  Upon the Assignor’s receipt of the Payoff Amount in its entirety, the Assignor hereby sells, transfers, assigns and delegates to the Assignee, without recourse, representation or warranty except as otherwise provided herein, and the Assignee hereby irrevocably purchases, receives, accepts and assumes from the Assignor, all of the Assignor’s rights under, interest in, title to and all its obligations under the Agreement and the other Assigned Documents.  Without limiting the generality of the foregoing, the Assignor hereby assigns to the Assignee all of its right, title and interest in the Purchased Interest.
Payment of each portion of the Payoff Amount shall be made by wire transfer of immediately available funds in accordance with the payment instructions set forth on Schedule II hereto.
2.2Removal of Assignor.  From and after the Effective Date (as defined below), the Assignor shall cease to be a party to the Agreement and each of the other Assigned Documents to which it was a party and shall no longer have any rights or obligations under the Agreement or any other Assigned Document (other than such rights which by their express terms survive termination thereof).
2.3Limitation on Liability.  Notwithstanding anything to the contrary set forth in this Amendment, the Assignee does not accept or assume any liability or responsibility for any breach, failure or other act or omission on the part of the Assignor, or any indemnification or other cost, fee or expense related thereto, in each case which occurred or directly or indirectly arose out of an event which occurred prior to the Effective Date.
2.4Acknowledgement and Agreement.    Each of the parties and signatories hereto (i) hereby acknowledges and agrees to the sale, assignment and assumption set forth in Section 2.1, (ii) expressly waives any notice or other applicable requirements set forth in any Transaction Document as a prerequisite or condition precedent to such sale, assignment and assumption (other than as set forth herein) and (iii) acknowledges and agrees that this Section 2 is in form and substance substantially similar to a Transfer Supplement.
SECTION 3.Joinder of PNC to the Agreement.
3.1PNC as a Related Committed Purchaser. From and after the date hereof, PNC shall be a Related Committed Purchaser party to the Agreement for all purposes thereof and of the other Transaction Documents as if PNC were an original party to the Agreement in such capacity, and PNC assumes all related rights and agrees to be bound by all of the terms and provisions applicable to Related Committed Purchasers contained in the Agreement and the other Transaction Documents.

3.2Appointment of PNC as Purchaser Agent of PNC’s Purchaser Group.  PNC hereby designates itself as, and PNC hereby agrees to perform the duties and obligations of, the Purchaser Agent for PNC’s Purchaser Group.  From and after the date hereof, PNC shall be a Purchaser Agent party to the Agreement, for all purposes of the Agreement and the other Transaction Documents as if PNC were an original party to the Agreement in such capacity, and PNC assumes all related rights and agrees to be bound by all of the terms and provisions applicable to Purchaser Agents contained in the Agreement and the other Transaction Documents.
3.3PNC’s Credit Decision.  PNC confirms that (i) it has received a copy of the Agreement and copies of such other Transaction Documents, and other documents and information as it has requested and deemed appropriate to make its own credit analysis and decision to enter into this Amendment and the Agreement and (ii) it will, independently and without reliance upon the Administrator, any Purchaser Agent or any other Purchaser and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or refraining from taking action under the Agreement and the other Transaction Documents.
3.4Commitments.  The Commitment of PNC under the Agreement as a Related Committed Purchaser shall be the applicable amount set forth on Schedule IV attached hereto.
3.5Notice Address.  PNC’s address for notices under the Agreement in its capacity as a Related Committed Purchaser and as a Purchaser Agent shall be the following:
Address:  PNC Bank, National Association
                 Three PNC Plaza
                 225 Fifth Avenue
                 Pittsburgh, Pennsylvania 15222

3.6Consent to Joinder. Each of the parties hereto consents to the foregoing joinder of PNC as a party to the Agreement in the capacities of a Related Committed Purchaser and Purchaser Agent, and any otherwise applicable conditions precedent thereto under the Agreement and the other Transactions Documents (other than as set forth herein) are hereby waived.

SECTION 4.Amendments to the Agreement.  The Agreement is hereby amended as follows:
4.1The third paragraph of Section 1.1(a) of the Agreement is replaced in its entirety with the following:
Each of the parties hereto hereby acknowledges and agrees that (i) from and after the Fourth Amendment Effective Date, the Purchaser Group that includes Regions, as a Purchaser Agent and as a Purchaser, shall not include a Conduit Purchaser, and each request by the Seller for ratable Purchases by the Conduit Purchasers pursuant to Section 1.1(a)(i) shall be deemed to be a request that the Related Committed Purchasers in Regions’ Purchaser Group make their ratable share of such Purchase and (ii) from and after the Fifth Amendment Effective Date, the Purchaser Group that includes PNC, as a Purchaser Agent and as a Purchaser, shall not include a Conduit Purchaser, and each request by the Seller for ratable Purchases by the Conduit Purchasers pursuant to Section 1.1(a)(i) shall be deemed to be a request that the Related Committed Purchasers in PNC’s Purchaser Group make their ratable share of such Purchase.  For the avoidance of doubt, the Discount with respect to each Portion of Capital funded or maintained by the Related Committed Purchasers in each of Regions’ Purchaser Group and PNC’s Purchaser Group shall accrue at the Alternate Rate, rather than the CP Rate.
4.2Section 1.2(g) of the Agreement is hereby deleted in its entirety.
4.3Each signature block as well as notice information thereunder for Market Street set forth on signature page S-3 of the Agreement is hereby deleted in its entirety.
4.4The following new defined term and definition thereof is added to Exhibit I to the Agreement in appropriate alphabetical order.
“Fifth Amendment Effective Date” means the date on which that certain Fifth Amendment to this Agreement, dated as of September 13, 2013, becomes effective in accordance with its terms.
4.5The definition of “Alternate Rate” set forth in Exhibit I to the Agreement is replaced in its entirety with the following:
“Alternate Rate” for any Yield Period for any Capital (or portion thereof) funded by any Purchaser other than through the issuance of Notes, means an interest rate per annum equal to: (a) solely with respect to each of PNC and Regions, as a Purchaser, the daily average LMIR for such Yield Period, (b) with respect to any Purchaser other than PNC or Regions, the Euro-Rate for such Yield Period, only to the extent that the Euro-Rate is available or (c) the Base Rate for such Yield Period, only to the extent that LMIR or the Euro-Rate, as applicable, is unavailable pursuant to Section 1.20; provided, however, that the “Alternate Rate” for any day while a Termination Event exists shall be an interest rate equal to the greater of (i) 3.0% per annum above the Base Rate in effect on such day and (ii) the “Alternate Rate” as calculated in clause (a) or (b) above, as applicable.
4.6The defined term “Market Street” and its related definition set forth in Exhibit I to the Agreement are deleted in their entirety.
4.7The definition of “Purchaser Group” set forth in Exhibit I to the Agreement is replaced in its entirety with the following:

“Purchaser Group” means, (i) for any Conduit Purchaser, such Conduit Purchaser, together with such Conduit Purchaser’s Related Committed Purchasers, related Purchaser Agent and Related LC Participants, (ii) for Regions, Regions, as a Purchaser Agent, a Related Committed Purchaser and an LC Participant and (iii) for PNC, PNC, as a Purchaser Agent, a Related Committed Purchaser and an LC Participant.
4.8The definition of “Yield Period” set forth in Exhibit I to the Agreement is amended by replacing each reference to the term “Regions” where it appears therein with a reference to the phrase “Regions or PNC”.
4.9Schedule IV to the Agreement is amended and restated in its entirety as Schedule IV attached hereto. 
4.10Annex A to the Agreement is amended and restated in its entirety as Annex A attached hereto. 
4.11Annex B to the Agreement is amended and restated in its entirety as Annex B attached hereto. 
4.12Annex E to the Agreement is amended and restated in its entirety as Annex E attached hereto. 
SECTION 5.Acknowledgements and Agreements.  Each party hereto acknowledges and agrees that as of the Effective Date and after giving effect to this Amendment: 
(i)    the Aggregate Capital shall be $0;
(ii)     the Capital funded by PNC shall be $0; 
(iii)    the Capital funded by Regions shall be $0; 
(iv)    the LC Participation Amount shall be $5,200,000;
(v)    PNC’s Pro Rata Share of the LC Participation Amount shall be $3,900,000; and
(vi)    Region’s Pro Rata Share of the LC Participation Amount shall be $1,300,000.
SECTION 6.Reaffirmation of Performance Guarantor.  The Performance Guarantor hereby (i) consents (to the extent required under the Performance Guaranty or any applicable law) to and acknowledges and agrees with the amendments contemplated by this Amendment and any and all other amendments, modifications or waivers to or in the Transaction Documents amended on or before the date hereof, including any and all provisions thereof that may increase the obligations of any Originator, Servicer, Sub-Servicer or Seller and (ii) ratifies and reaffirms all of its payment and performance obligations under the Performance Guaranty.
SECTION 7.Representations and Warranties.  Each of the Seller, the Servicer and the Performance Guarantor hereby represents and warrants to the Administrator, each Purchaser and each Purchaser Agent as follows:
(a)Representations and Warranties.  The representations and warranties made by it in the Transaction Documents are true and correct as of the date hereof and after giving effect to this Amendment (unless stated to relate solely to an earlier date, in which case such representations or warranties were true and correct as of such earlier date).

(b)Enforceability.  The execution and delivery by such Person of this Amendment, and the performance of each of its obligations under this Amendment and the Agreement, as amended hereby, are within its organizational powers and have been duly authorized by all necessary organizational action on its part.  This Amendment and the Agreement, as amended hereby, are such Person’s valid and legally binding obligations, enforceable in accordance with its terms.
(c)No Default. Both before and immediately after giving effect to this Amendment and the transactions contemplated hereby, no Termination Event, Unmatured Termination Event or Servicer Default exists or shall exist.
SECTION 8.Effect of Amendment.  All provisions of the Agreement, as expressly amended and modified by this Amendment, shall remain in full force and effect. After this Amendment becomes effective, all references in the Agreement (or in any other Transaction Document) to “this Agreement”, “hereof”, “herein” or words of similar effect referring to the Agreement shall be deemed to be references to the Agreement as amended by this Amendment. This Amendment shall not be deemed, either expressly or impliedly, to waive, amend or supplement any provision of the Agreement other than as set forth herein.
SECTION 9.Effectiveness.  This Amendment shall become effective as of the date hereof (the “Effective Date”), subject to the satisfaction of each of the following conditions precedent on or before the Effective Date:
(a)the Administrator shall have received counterparts of this Amendment and the Amended Fee Letter; 
(b)the Assignor shall have received the Payoff Amount in its entirety in accordance with Section 2 of this Amendment; and
(c)the Administrator shall have received such other instruments, opinions and documents as the Administrator may reasonably request.
SECTION 10.Further Assurances.    Each of the Seller and the Servicer hereby agrees to do all such things and execute all such documents and instruments, at the Seller’s sole expense, as the Assignee may reasonably consider necessary or desirable to give full effect to the assignment and assumption set forth in Section 2 of this Amendment.
SECTION 11.No Proceedings.  Each of the parties hereto hereby covenants and agrees that it will not institute against, or join any other Person in instituting against, Market Street any bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding, or other proceeding under any federal or state bankruptcy or similar law, for one year and one day after the latest maturing Note issued by Market Street is paid in full. The provisions of this Section 11 shall survive any termination of the Agreement.
SECTION 12.Counterparts.  This Amendment may be executed in any number of counterparts and by different parties on separate counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute but one and the same instrument.  Delivery by facsimile or email of an executed signature page of this Amendment shall be effective as delivery of an executed counterpart hereof.
SECTION 13.Governing Law.  THIS AMENDMENT SHALL BE DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING FOR SUCH PURPOSE SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK).

SECTION 14.Severability.  If any one or more of the agreements, provisions or terms of this Amendment shall for any reason whatsoever be held invalid or unenforceable, then such agreements, provisions or terms shall be deemed severable from the remaining agreements, provisions and terms of this Amendment and shall in no way affect the validity or enforceability of the provisions of this Amendment or the Agreement.
SECTION 15.Section Headings.  The various headings of this Amendment are included for convenience only and shall not affect the meaning or interpretation of this Amendment, the Agreement or any provision hereof or thereof.

IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first written above.
CINCINNATI BELL FUNDING LLC,
as Seller

By: /s/ Christopher C. Elma                   
Name:    Christopher C. Elma
Title:    Vice President and Treasurer

CINCINNATI BELL INC.,
as Servicer and as Performance Guarantor

By: /s/ Christopher C. Elma                   
Name:    Christopher C. Elma
Title:    Vice President and Treasurer

S-1
Fifth Amendment to A&R RPA
(Cincinnati Bell)

PNC BANK, NATIONAL ASSOCIATION,
as Administrator

By: /s/ Mark Falcione                   
Name: Mark Falcione
Title: Executive Vice President

PNC BANK, NATIONAL ASSOCIATION,
as a Purchaser Agent and as Assignee

By: /s/ Mark Falcione                   
Name: Mark Falcione
Title: Executive Vice President

PNC BANK, NATIONAL ASSOCIATION,
as the LC Bank and as an LC Participant

By: /s/ Mark Falcione                   
Name: Mark Falcione
Title: Executive Vice President

S-2
Fifth Amendment to A&R RPA
(Cincinnati Bell)

MARKET STREET FUNDING LLC,
as a Related Committed Purchaser and as Assignor

By: /s/ Doris J. Heam                   
Name: Doris J. Heam
Title: Vice President

MARKET STREET FUNDING LLC,
as a Conduit Purchaser

By: /s/ Doris J. Heam                   
Name: Doris J. Heam
Title: Vice President

S-3
Fifth Amendment to A&R RPA
(Cincinnati Bell)

REGIONS BANK,
as a Purchaser Agent, as an LC Participant
and as a Related Committed Purchaser

By: /s/ Kathy Myers                   
Name: Kathy Myers 
Title: Vice President

S-4
Fifth Amendment to A&R RPA
(Cincinnati Bell)Exhibit 10.21 - CBMPP Amend Funding Based Limit

AMENDMENT TO
CINCINNATI BELL MANAGEMENT PENSION PLAN
The Cincinnati Bell Management Pension Plan (the “Plan”) is hereby amended, effective as of January 1, 2008 and in order (i) to reflect the impact of the Moving Ahead for Progress in the 21st Century Act (“MAP-21”) on the Plan’s provisions that set forth the funding-based limits of section 436 of the Internal Revenue Code (the “Code”) and section 206(g) of the Employee Retirement Income Security Act (“ERISA”) and (ii) to clarify certain of the Plan’s provisions that reflect the funding-based limits of Code section 436 and ERISA section 206(g), in the following respects.  
1.    For clarity, Subsection 21.2.3 of the Plan is amended in its entirety to read as follows. 
21.2.3    If the provisions of Sections 21.4 and 21.5 below require that, during any period that occurs in a subject Plan Year, the Plan’s adjusted funding target attainment percentage for such subject Plan Year is considered to be 60% or more but less than 80% (such period being referred to in this Subsection 21.2.3 as the “subject period”), then the following paragraphs of this Subsection 21.2.3 shall apply.
(a)    A Participant (or a beneficiary of a deceased Participant) may not elect an optional form of benefit that includes a prohibited payment, and the Plan shall not pay any prohibited payment, in connection with a vested Plan benefit that has a start date that falls in the subject period (for purposes of this paragraph (a), the “initial start date”) unless the present value (determined as of the initial start date and in accordance with the actuarial assumptions reflected in Code section 417(e)(3), as applied under the Plan) of the portion of such benefit that is being paid in a prohibited payment does not exceed the lesser of (1) 50% of the present value (determined as of the initial start date and in accordance with the actuarial assumptions reflected in Code section 417(e)(3), as applied under the Plan) of the benefit or (2) 100% of the PBGC maximum guarantee amount (determined as of the initial start date).  
(i)    For purposes of this paragraph (a), the portion of the benefit that is being paid in a prohibited payment shall be determined under Treasury Regulations section 1.436-1(d)(3)(iii)(B) and generally refers to the excess of each payment of the benefit over the smallest payment, including a payment of $0, that is made after the benefit’s start date and during the Participant’s lifetime (or, if the benefit paid under the Plan with respect to the Participant reflects only a death benefit payable to his beneficiary, during the beneficiary’s lifetime) under the optional form of benefit. 
(ii)    Further, and notwithstanding the foregoing provisions of this paragraph (a), if a prohibited payment applies to a benefit of a Participant (or his beneficiary) by reason of Subsection 21.2.5(a)(ii) or (iii) below, the present value of the Participant’s Accrued Benefit shall be substituted for the present value of the benefit payable in the optional form of benefit that includes the prohibited payment in the foregoing provisions of this paragraph (a).  

(b)    If a Participant (or his beneficiary under the Plan) requests, with respect to a vested Plan benefit (for purposes of this paragraph (b), the “subject benefit”) that becomes payable to the Participant (or his beneficiary) as of a certain start date that occurs in the subject period (for purposes of this paragraph (b), the “initial start date”), an optional form of payment (that is paid or begins to be paid as of the initial start date) that is not available because of the provisions of paragraph (a) immediately above (for purposes of this paragraph (b), the “prohibited optional form of benefit”), the Participant (or the beneficiary) may elect either: (1) to defer payment of the subject benefit in its entirety to a date that is later than the initial start date and that is otherwise permitted to be a start date for the subject benefit (but with such deferred benefit still subject as of the later start date to the limitations of this Section 21.2); (2) to bifurcate the subject benefit into unrestricted and restricted portions and have both such portions paid as of the initial start date in accordance with subparagraphs (i) and (ii) immediately below; or (3) to bifurcate the subject benefit into unrestricted and restricted portions and have the unrestricted portion paid as of the initial start date in accordance with subparagraphs (i) and (ii) immediately below and to defer payment of the restricted portion to a date that is later than the initial start date, that is otherwise permitted to be a start date for the subject benefit, and that is later elected by him (for purposes of this paragraph (b), the “later start date”) and have the restricted portion paid as of the later start date in accordance with subparagraphs (i) and (ii) immediately below.  
(i)    If the Participant (or the beneficiary) elects to bifurcate the subject benefit, he may elect to receive the unrestricted portion of the subject benefit in any optional form of payment that would have otherwise been available under the Plan with respect to the subject benefit in its entirety if the limitations of this Subsection 21.2.3 did not apply, whether or not the optional form with respect to the unrestricted portion includes a prohibited payment.  In the case of such a bifurcated benefit, if the Participant (or the beneficiary) elects payment of the unrestricted portion of the subject benefit in an optional form that includes a prohibited payment and he also elects to have the restricted portion of the subject benefit paid as of the initial start date, he may elect payment of the restricted portion of the subject benefit in any optional form of payment under the Plan that does not include a prohibited payment and that would have been permitted under the Plan with respect to the subject benefit in its entirety.  Further, in the case of such a bifurcated benefit, if the Participant (or the beneficiary) elects payment of the unrestricted portion of the subject benefit in an optional form that includes a prohibited payment but he elects to defer the payment of the restricted portion of the subject benefit to the later start date, at the later start date he may elect payment of such restricted portion in any optional form of payment under the Plan that does not include a prohibited payment and that would have been permitted under the Plan with respect to the subject benefit in its entirety (or, if the limitations of this Section 21.2 do not apply at all under such section’s terms at such later start date, in any optional form of payment that would have otherwise been available under the Plan with respect to the subject benefit in its entirety if the limitations of this Section 21.2 did not apply, whether or not the optional form with respect to such restricted portion includes a prohibited payment).

(ii)    For purposes of this paragraph (b), the “unrestricted” portion of the subject benefit shall be 50% of the amount payable under the prohibited optional form of benefit; but reduced, to the extent necessary, so that the present value (determined as of the initial start date and in accordance with the actuarial assumptions reflected in Code section 417(e)(3), as applied under the Plan) of the “unrestricted” portion of the subject benefit with respect to the prohibited optional form of benefit does not exceed the PBGC maximum guarantee amount (determined as of the initial start date).  Also for purposes of this paragraph (b), the “restricted” portion of the subject benefit shall be the portion of the subject benefit that is not “unrestricted” under the terms of the immediately preceding sentence.  
(c)    If the Participant (or his beneficiary under the Plan) receives a prohibited payment (or a series of prohibited payments under a single optional form of benefit) in accordance with the foregoing provisions of this Subsection 21.2.3, the Participant (or the beneficiary) cannot thereafter receive any additional prohibited payment during any period of consecutive Plan Years to which the limitations under either Subsection 21.2.1 above, Subsection 21.2.2 above, or this Subsection 21.2.3 apply.  
(d)    For purposes of the foregoing provisions of this Subsection 21.2.3 and subject to the provisions of Treasury Regulations section 1.436-1(d)(3)(iv)(B), benefits provided to a Participant and his beneficiary under the Plan (including, for this purpose, an alternate payee under a qualified domestic relations order) are aggregated.  
(e)    For purposes of this Subsection 21.2.3, the “PBGC maximum guarantee amount” is, with respect to a Participant and as of any start date that applies to the payment of a vested Plan benefit applicable to or with respect to the Participant, the present value (determined under guidance prescribed by the Pension Benefit Guaranty Corporation, using the interest and mortality assumptions under Code section 417(e)(3), as applied under the Plan) of the maximum benefit guarantee (based on the Participant’s age at such start date) under section 4022 of ERISA for the Plan Year in which such start date occurs.  
2.    For clarity, paragraph (b) of Subsection 21.2.5 of the Plan is amended in its entirety to read as follows. 
(b)    A “start date” means, with respect to any vested benefit payable under the Plan of a Participant (or his beneficiary under the Plan): 
(i)    except as is provided in subparagraph (iii) or (iv) below and when such benefit is paid in the form of an Annuity, the first day of the first period for which an amount is paid under the Annuity form (as described in Code section 417(f)(2)(A)(i)); 
(ii)    except as is provided in subparagraph (iii) or (iv) below and when such benefit is not paid in the form of an Annuity, the date that would be the start date for an Annuity payable to the Participant (or, if applicable, his beneficiary), including a Qualified Joint and Survivor Annuity when such benefit is payable to the Participant, that would actually begin to be paid under the Plan’s distribution processes at the same time as such benefit is actually paid in its non-Annuity form;
(iii)    if a prohibited payment applies to such benefit by reason of Subsection 21.2.5(a)(ii) above, the date of the purchase of an irrevocable commitment from an insurer to pay any part of such benefit; or

(iv)    if a prohibited payment applies to such benefit by reason of Subsection 21.2.5(a)(iii) above, the date of the transfer to another plan of any assets and liabilities of the Plan associated with such benefit.
3.    For clarity, Subsection 21.5.2 of the Plan is amended in its entirety to read as follows. 
21.5.2    If the actual adjusted funding target attainment percentage of the Plan for the preceding Plan Year was certified to be at least 60% but less than 70%, or was certified to be at least 80% but less than 90% (or is described in Treasury Regulations section 1.436-1(h)(2)(ii)), and if the Plan’s enrolled actuary has not issued a certification of the Plan’s adjusted funding target attainment percentage for the current subject Plan Year by the first day of the fourth month of the current subject Plan Year, then the adjusted funding target attainment percentage of the Plan for the current subject Plan Year shall, for the period in the current subject Plan Year that begins on the later of the first day of the fourth month of the current subject Plan Year or the date of the certification of the Plan’s adjusted funding target attainment percentage for the preceding Plan Year and ends on the date immediately preceding the earlier of the date on which the Plan’s enrolled actuary issues a certification of the Plan’s adjusted funding target attainment percentage for the current subject Plan Year or the first day of the tenth month of the current subject Plan Year, be presumed to be equal to 10% less than the Plan’s certified adjusted funding target attainment percentage for the preceding Plan Year.  
4.    To reflect the impact of MAP-21 on the Plan’s provisions that set forth the funding-based limits of Code section 436 and ERISA section 206(g), Section 21.6 of the Plan is amended in its entirety to read as follows.
21.6    Adjusted Funding Target Attainment Percentage.  
21.6.1    For purposes of this Article 21, “adjusted funding target attainment percentage” shall have the meaning ascribed to it by Code section 436(j)(2) and ERISA section 206(g)(9) and final regulations issued by the Secretary of the Treasury or his delegate under Code section 436.  In general terms, but still subject to the more detailed provisions of such Code section, such ERISA section, and such regulations, the adjusted funding target attainment percentage for any subject Plan Year is the fraction (expressed as a percentage) that has: 
(a)    a numerator equal to the Plan’s assets, as adjusted in certain cases for several items, including subtracting therefrom any funding standard carryover balance and prefunding balance of the Plan’s funding standard account and adding thereto the aggregate amount of purchases of annuities for Participants who are not Highly Compensated Employees which were made by the Plan in the preceding two Plan Years to the extent not included in Plan assets for purposes of Code section 430 (for purposes of this Subsection 21.7.1, the “prior annuity purchases”); and 
(b)    a denominator equal to the Plan’s funding target (under Code section 430(d) or (i) and ERISA section 303(d) or (i), as applicable, but without regard to the at-risk rules under Code section 430(i) and ERISA section 303(i)) for the subject Plan Year, increased by the prior annuity purchases.    
    

21.6.2    Solely for purposes of determining the adjusted funding target attainment percentage when applying the restrictions of the foregoing provisions this Article 21 and in accordance with the Company’s election under Q&A E-1 of the Internal Revenue Service’s Notice 2012-61 (“Notice 2012-61), Code section 430(h)(2)(C)(iv), that was added by section 40211(a) of the Moving Ahead for Progress in the 21st Century Act and provides that each of three segment rates described in Code section 430(h)(2)(C)(i), (ii), and (iii) (generally used for determining the present value of benefits and referred to, for purposes of this Subsection 21.6.2, as the “segment rates”) for a Plan Year is adjusted as necessary to fall within a specified range that is determined based on an average of the corresponding segment rates for the 25-year period ending on September 30th of the latest calendar year that ends before the first day of such Plan Year, shall be applied for purposes of determining the Plan’s adjusted funding target attainment percentage for each Plan Year that begins on or after January 1, 2013 (but not for any earlier Plan Year).  
5.    To reflect the notice requirement of ERISA section 101(j), a new Subsection 21.8 reading as follows is added to the end of Article 21 of the Plan.
21.8    In accordance with the rules of ERISA section 101(j), the Company shall provide written notice to Participants and beneficiaries within 30 days after certain specified dates if the Plan becomes subject to a limitation described in Section 21.1 or 21.2.

IN ORDER TO EFFECT THE FOREGOING PLAN REVISIONS, the Plan’s sponsor, Cincinnati Bell Inc., has caused its name to be subscribed to this Plan amendment.
CINCINNATI BELL INC.

By: /s/ Christopher J. Wilson                   
Title: V.P. General Counsel & Secretary  
Date: December 20, 2013

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00227-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00227-of-00352.parquet"}]]