Document:

AMENDMENT TO AGREEMENT BY AND BETWEEN ALLTEL CORPORATION AND JOE T. FORD

     

     

    Exhibit
      10(a)

     

    AMENDMENT
      TO AGREEMENT 

     

    THIS
      AMENDMENT
      (this
“Amendment”), effective as of May 8, 2006, by and between ALLTEL Corporation, a
      Delaware corporation (the “Corporation”), and Joe T. Ford (“Executive”), amends
      that certain Agreement, dated as of July 26, 2001, by and between the
      Corporation and Executive (the “Agreement”). 

     

    In
      consideration of the mutual covenants and agreements herein contained, and
      other
      good and valuable consideration, the receipt and sufficiency of which are hereby
      acknowledged, the parties hereto agree to amend the Agreement as follows:

     

    1.  Section
      1(C) of the Agreement shall be replaced in its entirety with the
      following:

     

    (C) “Change
      in Control” shall mean:

     

    (1)  Any
      individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2)
      of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (a
“Person”) becomes the beneficial owner (within the meaning of Rule 13d-3
      promulgated under the Exchange Act) of 20% or more of either (A) the
      then-outstanding shares of common stock of the Corporation (the “Outstanding
      Corporation Common Stock”) or (B) the combined voting power of the
      then-outstanding voting securities of the Corporation entitled to vote generally
      in the election of directors (the “Outstanding Corporation Voting Securities”);
provided,
      however,
      that,
      for purposes of this Section 1(d), the following acquisitions shall not
      constitute a Change in Control: (i) any acquisition directly from the
      Corporation, (ii) any acquisition by the Corporation, (iii) any acquisition
      by
      any employee benefit plan (or related trust) sponsored or maintained by the
      Corporation or any of its affiliates or (iv) any acquisition by any corporation
      pursuant to a transaction that complies with Sections 1(C)(3)(A), 1(C)(3)(B)
      and
      1(C)(3)(C);

     

    (2)  Any
      time
      at which individuals who, as of the date hereof, constitute the Board (the
      “Incumbent Board”) cease for any reason to constitute at least a majority of the
      Board; provided,
      however,
      that
      any individual becoming a director subsequent to the date hereof whose election,
      or nomination for election by the Corporation’s stockholders, was approved by a
      vote of at least a majority of the directors then comprising the Incumbent
      Board
      shall be considered as though such individual were a member of the Incumbent
      Board, but excluding, for this purpose, any such individual whose initial
      assumption of office occurs as a result of an actual or threatened election
      contest with respect to the election or removal of directors or other actual
      or
      threatened solicitation of proxies or consents by or on behalf of a Person
      other
      than the Board;

     

    (3)  Consummation
      of a reorganization, merger, statutory share exchange or consolidation or
      similar transaction involving the Corporation or any of its subsidiaries, a
      sale
      or other disposition of all or substantially all of the assets of the
      Corporation, or the acquisition of assets or stock of another entity by the
      Corporation or any of its subsidiaries (each, a “Business Combination”), in each
      case unless, following such Business Combination, (A) all or substantially
      all
      of the individuals and entities that were the beneficial owners of the
      Outstanding Corporation Common Stock and the 

     

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    Outstanding
      Corporation Voting Securities immediately prior to such Business Combination
      beneficially own, directly or indirectly, more than 50% of the then-outstanding
      shares of common stock (or, for a non-corporate entity, equivalent securities)
      and the combined voting power of the then-outstanding voting securities entitled
      to vote generally in the election of directors (or, for a non-corporate entity,
      equivalent governing body), as the case may be, of the entity resulting from
      such Business Combination (including, without limitation, an entity that, as
      a
      result of such transaction, owns the Corporation or all or substantially all
      of
      the Corporation’s assets either directly or through one or more subsidiaries) in
      substantially the same proportions as their ownership immediately prior to
      such
      Business Combination of the Outstanding Corporation Common Stock and the
      Outstanding Corporation Voting Securities, as the case may be, (B) no Person
      (excluding any corporation resulting from such Business Combination or any
      employee benefit plan (or related trust) of the Corporation or such corporation
      resulting from such Business Combination) beneficially owns, directly or
      indirectly, 20% or more of, respectively, the then-outstanding shares of common
      stock of the corporation resulting from such Business Combination or the
      combined voting power of the then-outstanding voting securities of such
      corporation, except to the extent that such ownership existed prior to the
      Business Combination, and (C) at least a majority of the members of the board
      of
      directors (or, for a non-corporate entity, equivalent governing body) of the
      entity resulting from such Business Combination were members of the Incumbent
      Board at the time of the execution of the initial agreement or of the action
      of
      the Board providing for such Business Combination; or 

     

    (4)  Approval
      by the stockholders of the Corporation of a complete liquidation or dissolution
      of the Corporation.

     

    2.  The
      following Section 1(O) shall be added to the Agreement and the Section
      previously numbered Section 1(O) shall be renumbered as Section
      1(P):

     

    “Special
      Payment Trigger” shall mean, at any time during the Executive’s Post-Retirement
      Chairman Status, the occurrence of a Change in Control.

     

    3.  Section
      3(B)(iv) of the Agreement is hereby amended by adding the following to the
      end
      of such Section:

     

    “,
      provided,
      that,
      notwithstanding any provision of this Agreement to the contrary, in the event
      that the Chief Executive Officer of the Corporation as of the date hereof so
      determines, following the Executive’s Post-Retirement Chairman Status, the
      Corporation shall continue to provide to the Executive such office space and
      secretarial support.” 

     

    4.  The
      following Section 18 shall be added to the Agreement:

     

    Upon
      the occurrence of a Special Payment Trigger, in lieu of any benefits
      under Section 4 of this Agreement, the Executive shall be provided with a lump
      sum cash payment in 

    an
      amount equal to $750,000 (the “Special Payment”); provided,
      that to
      the extent required by Section 409A of the Code, such Special Payment Trigger
      constitutes a “change in 

    control
      event” within the meaning of Section 409A. If the Special Payment Trigger does

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    not
      constitute a “change in control event” within the meaning of Section 409A, the
      Special Payment shall be made within five days following the Executive’s Date of
      Termination following the Special Payment Trigger; provided,
      that,
      to the extent required in order to comply with Section 409A of the Code, the
      Special Payment shall instead be paid, with interest on any delayed payment
      at
      the applicable federal rate provided for in Section 7872(f)(2)(A) of the Code
      (“Interest”), on the first business day after the date that is six months
      following the Executive’s “separation from service” within the meaning of
      Section 409A.

     

    5.  As
      amended hereby, the Agreement shall be and remain in full force and
      effect.

     

    IN
      WITNESS WHEREOF,
      the
      parties have executed this Amendment as of the date first above
      written.

     

     

    
 

     

    
      	ALLTEL
              CORPORATION
	 
	By:
              /s/ Richard N. Massey
	 
	 
	EXECUTIVE: 
	/s/
              Joe T. Ford 
	Joe T.
              FordUnassociated Document

    Exhibit
      10(b) 

     

    
 

    AMENDMENT
      TO EMPLOYMENT AGREEMENT 

     

    THIS
      AMENDMENT
      (this
“Amendment”), effective as of May 8, 2006, by and between ALLTEL Corporation, a
      Delaware corporation (the “Corporation”), and Scott T. Ford (“Executive”),
      amends that certain Employment Agreement, dated as of July 24, 2003, by and
      between the Corporation and Executive (the “Agreement”). 

     

    In
      consideration of the mutual covenants and agreements herein contained, and
      other
      good and valuable consideration, the receipt and sufficiency of which are hereby
      acknowledged, the parties hereto agree to amend the Agreement as follows:

     

    1.  Section
      7.3(C) of the Agreement is hereby amended by deleting the final sentence of
      the
      introductory paragraph of Section 7.3(C) and replacing it in its entirety with
      the following:

     

    “Whether
      an act or failure to act by the Executive constitutes “Cause” shall be
      determined subject to the following requirements.” 

     

    2.  As
      amended hereby, the Agreement shall be and remain in full force and
      effect.

     

    IN
      WITNESS WHEREOF,
      the
      parties have executed this Amendment as of the date first above
      written.

     

     

     

    

    
      	ALLTEL
              CORPORATION 
	 
	By:
              /s/ Richard N. Massey 
	 
	 
	EXECUTIVE: 
	/s/
              Scott T. Ford
	Scott T.
              Ford

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