Document:

Employment Agreement -Mark Cloutier

 EXHIBIT 10(b) 
  
  
  
  
 DATED SEPTEMBER 1, 2002 
  
  
  
  
 OVERSEAS PARTNERS LTD. 
  
  
  
 and 
  

 
  
 MARK CLOUTIER 
  
  
  
 
 
 AMENDED
EMPLOYMENT AGREEMENT 
  
 

 

  
 THIS AMENDED EMPLOYMENT AGREEMENT is made the 1st day of September 2002 
  
 BETWEEN: 
  
 OVERSEAS PARTNERS LTD. whose registered office is
situated at Cumberland House, 1 Victoria Street, Hamilton HM GX, Bermuda (the “Company”); and 
  
 MARK
CLOUTIER of “The Binnacle”, 12 Tribe Road #6, Salt Kettle (the “Executive”). 
  
 WHEREBY IT IS
AGREED as follows: 
  

	1.
	 
	Definitions and Interpretations 
 

  
 In addition to the words and expressions hereinbefore defined the following words and expressions shall have the meanings hereinafter ascribed to them; 
  
 “Associated Company” means any company which is from time to time a subsidiary or a holding company (as those expressions are
defined by Section 86 of the Companies Act 1981) of the Company. 
  
 the “Board” means the Board of
Directors from time to time of the Company. 
  
 “Cause” means (a) an act or acts of personal dishonesty
taken by the Executive and intended to result in the material personal enrichment of the Executive at the expense of the Company and its Associated Companies, excluding for this purpose any isolated, insubstantial or inadvertent action not taken in
bad faith which is remedied by the Executive in a reasonable period of time after receipt of reasonably prompt written notice thereof from the Company, (b) repeated violations by the Executive of his obligations under this Agreement which are
demonstrably willful and deliberate and which are not remedied in a reasonable period of time by the Executive after receipt of reasonably prompt written notice thereof from the Company, or, (c) the Executive’s conviction of a felony involving
moral turpitude. 
  
 “Change in Control” means (a) the change in control of the Company through the
acquisition (whether by purchase, transfer, merger, renunciation or otherwise) of any interest in any shares, if, upon completion of such acquisition the third party, together with persons acting in concert with the third party, would hold more than
fifty percent of the Common Share Capital of the Company or (b) the sale or disposal of all or substantially all of the Company’s reinsurance operations (for example, sale of OPRe or a loss portfolio transfer of more than 80% of OPRe’s
reinsurance liabilities. 
  
 “Commencement Date” means the 15th day of April, 2002. 

 
 “Common Share Capital” means all the Common Shares of the Company in issue from time to time. 

 
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 “Compensation Committee” means the Compensation Committee of the Board.

  
 “Employment” means the employment of the Executive with the Company Pursuant to this Agreement.

  
 “Good Reason” means (a) the sale or other disposition by the Company of all or substantially all of its
reinsurance operations, (b) a Change in Control, (c) repeated violations by the Company of its obligations under this Agreement which are demonstrably willful and deliberate and which are not remedied in a reasonable period of time by the Company
after receipt of reasonably prompt written notice thereof from the Executive, (d) without the Executive’s consent, the Company reduces the Executive’s current base salary, reduces the Executive’s then current target total annual
compensation, reduces the Executive’s housing allowance, or reduces any of the benefits provided to the Executive under paragraphs 4(e) or (f) of this Agreement, (e) a diminution in the Executive’s duties or responsibilities or the
assignment of the Executive of any duties inconsistent in any adverse respect with the Executive’s then current duties and responsibilities or, (f) the Work Permit of the Executive is terminated by the Government of Bermuda. 

 
 “Scheduled Termination Date” means April 14, 2005. 
  
 “Termination Date” means the date on which the Employment with the Company ceases either for reason of the conclusion of the fixed term of the Employment or for
reason of the termination of the Employment in accordance with the provisions of this Agreement. 
  

	2.
	 
	Term of Appointment 
 

  

	 	(a)
	 
	The Company hereby appoints the Executive and the Executive hereby agrees to act as President and Chief Executive Officer of OPRe for an initial Term of
Appointment of a period of three (3) years unless this Agreement is: (i) sooner terminated in accordance with paragraph 5 below, or (ii) extended as provided in paragraph 2(b) below. Thus, unless otherwise extended, this Agreement shall terminate
effective as of the Scheduled Termination Date. 
 

  

	 	(b)
	 
	Commencing on the third anniversary of the Commencement Date and on each annual anniversary of such date, (each a “Renewal Date”), this Agreement, and
the Term of Appointment herein granted, shall be automatically extended so as to terminate on the first annual anniversary of each Renewal Date, unless either the Company or the Executive shall give the other written notice, not less than 60 days
prior to any Renewal Date, of the election not to so extend this Agreement, in which case this Agreement shall terminate on such Renewal Date. 
 

  

	3.
	 
	Powers and Duties 
 

  
 During the period of Employment under this Agreement the Executive: 

 
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	 	(a)
	 
	shall report to the Chief Executive Officer of the Company or designee thereof (the “CEO”) and shall exercise such powers and perform such duties (not
being duties inappropriate to his status) as Chief Executive Officer and President of OPRe as may from time to time be vested in or assigned to him by the CEO and shall comply with all reasonable directions from time to time given to him by the CEO
and with all rules and regulations from time to time laid down by the Company concerning its employees as the CEO or the Board may from time to time determine. 
 

  

	 	(b)
	 
	shall devote his full attention and business time to the business and affairs of the Company, provided, however, that nothing in this Agreement shall preclude
the Executive from engaging in activities involving professional, educational, charitable, religious and community organizations, managing his personal investments, and serving on the board of directors of such companies and organizations as agreed
to from time to time by the Board, to the extent that the foregoing do not materially inhibit the performance of the Executive’s duties under this Agreement or conflict in any material way with the business and affairs of the Company.

 

  

	 	(c)
	 
	use his best efforts to perform faithfully and efficiently, and to discharge the dealings and responsibilities assumed by him under this Agreement.

 

  

	4.
	 
	Remuneration and Benefits 
 

  
 The Executive shall be paid by way of remuneration a salary and bonus and such other benefits (if any) as the CEO and the Compensation Committee may from time to time determine as follows:

  

	 	(a)
	 
	The Executive shall be paid by way of remuneration for his services during the Employment hereunder: (i) a base salary at the rate of $25,000 per month and (ii)
such bonuses or additional remuneration (if any) as the CEO, with ratification by the Compensation Committee, may from time to time determine in accordance with the “Overseas Partners Ltd. Incentive Plan” based upon a target award of 100%
of annual base salary, a minimum award of 50% of annual base salary, and a maximum award of 150% of annual base salary (using the Executive’s annual base salary in effect at the end of the calendar year to which the bonus relates), in each case
determined by the performance of the Company and the Executive as adjudged by the CEO and ratified by the Compensation Committee. The CEO and Compensation Committee shall review the Executive’s base salary and potential bonus award, on an
annual basis to determine, in its sole discretion, if and to what extent an increase in base salary and/or the awarding of a bonus or additional remuneration is warranted. The annual review will be completed by March 1 of each year. 

  

 
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 Such salary shall be paid by equal monthly installments in arrears on the 25th day of every month and shall accrue from
day to day. 
  

	 	(b)
	 
	The Executive shall be entitled to a Retention & Incentive bonus, payable as of the earliest of (i) April 15, 2005, (ii) a Change of Control, (iii) the
Executive’s termination without Cause or (iv) the Executive’s termination of employment for Good Reason. The Target Bonus shall be $1.5 million, and the amount of the bonus payable hereunder shall be adjusted in accordance with the
provisions of the Company’s Retention and Incentive Award Plan, subject to a guaranteed minimum bonus of $1.0 million. Such bonus shall not be paid if the Executive’s employment is terminated for Cause or the Executives terminates
employment without Good Reason. The final amount of the Retention & Incentive bonus shall be reduced by $250,000 in accordance with paragraph 4(j) below. 
 

  

	 	(c)
	 
	In addition to public holidays the Executive will be entitled to thirty (30) days vacation in every calendar year. Unless and until his Employment under this
Agreement terminates under any provision herein, salary will continue to be payable during vacations. Vacation days not taken in any calendar year may be carried forward at the sole discretion of the Compensation Committee. 

  

	 	(d)
	 
	Subject to production, if requested, of medical certificates satisfactory to the Company, salary will not cease to be payable by reason only of the
Executive’s incapacity to work due to sickness or accident (unless and until his Employment under the Agreement shall be terminated under any provision herein) but the Company may reduce salary during incapacity by an amount equal to the
benefit (excluding any lump sum benefit) which the Executive would be entitled to claim during such incapacity under any sickness or accident insurance policy paid for entirely by the Company (whether or not such benefit is claimed by the
Executive). 
 

  

	 	(e)
	 
	The Executive shall be entitled to participate in the Overseas Partners Ltd And Subsidiaries Retirement Plan (“401(k) plan”) or its replacement plan
(provided that Company contributions under a replacement plan shall be made at a rate at least equal to the rate of contributions made under the 401(k) plan). 
 

  

	 	(f)
	 
	The Executive is entitled to all other benefits outlined in the Overseas Partners Ltd./Overseas Partners Re Ltd. Company Handbook, which are not specifically
identified in this Agreement. 
 

	 	

	 	(g)
	 
	The Company shall, during the continuance of the Employment of the Executive (including any period of notice) pay a housing allowance of $10,500 per month
(retroactive to January 1, 2002) to defray the Executive’s housing cost here in Bermuda. Such amount shall increase by $500 per month on each subsequent January 1. Payments shall be on the 25th day of each month, in arrears for the month in
question. 
 

	

  

 
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	 	(h)
	 
	The Company shall provide or reimburse the Executive for the cost of one (1) round-trip business class airline ticket between Bermuda and Dallas, Texas each
month. 
 

  

	 	(i)
	 
	The Executive and his U.S.-based dependents shall be covered under the OPUS health benefits plan as outlined in the OPUS Benefit Manual or any replacement plan,
provided that the benefits payable under any such replacement plan will be at least equal to those provided under the current health benefits plan. 
 

  

	 	(j)
	 
	In consideration of the execution of this contract, the Executive shall be paid a signing bonus of $250,000, such amount to be deducted from the final
determination of the Retention & Incentive bonus as set out in paragraph 4(b) above. 
 

  

	5.
	 
	Termination of Employment 
 

  

	 	(a)
	 
	The Employment may be terminated at any time: (i) by the Company with or without Cause, (ii) by the Executive with or without Good Reason or (iii) due to the
death or total and permanent disability of the Executive in accordance with the applicable long-term policies of the Company in which the Executive participates. 
 

  

	 	(b)
	 
	In the event that the Executive wishes to resign from the Company without Good Reason, the Executive shall provide the Company with three (3) months’
advance written notice and, in such case, the Company may terminate the Executives employment prior to the end of such three (3) month period provided that the Company makes the payments to the Executive described in paragraph (e) below. A
termination of the Employment by the Company as provided in the preceding sentence shall not be deemed a termination without Cause or give the Executive grounds to terminate his employment for Good Reason for purposes of paragraph (c) below.

 

  

	 	(c)
	 
	In the event that the Employment is terminated either (i) because it is not extended by the Company pursuant to paragraph 2(b) upon the expiration of the
initial Term of Appointment, (ii) following a Change of Control, or (iii) pursuant to paragraph (a) above (A) by the Company without Cause or (B) by the Executive with Good Reason, the Executive shall be entitled to receive, in addition to accrued
salary and benefits (including a pro-rata calculation of earned vacation days) payable to the Executive through the Termination Date, (w) a lump sum payment, payable within 14 business days from the Termination Date, equal to: (I) the
Executive’s monthly base salary (as determined in paragraph 4(a)) times 24 (or, if greater, the number of months remaining through the Scheduled Termination Date), plus, (II) the Executive’s bonus entitlement (as determined in paragraph
4(a)), based upon target levels set by the Company for the year in which the Executive’s termination occurs and pro-rated for the period from January 1 of the year in which the termination occurs to the Termination Date, plus (III) an amount
equal to the product of 2 (or, if greater, a fraction equal to the 
 

  

 
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 number of months remaining through the Scheduled Termination Date divided by 12)
times the Executive’s bonus entitlement (as determined in paragraph 4(a)), based upon the target level set by the Company for the year in which the Executive’s termination occurs, and (x) a lump sum payment of the Executive’s monthly
housing allowance (as that amount is determined in paragraph 4(g) above) equivalent to 2 months; (y) payment of actual expenses (up to a maximum of a sum of $30,000) towards the cost incurred during the course of relocating from Bermuda, provided
such relocation occurs within 6 months following termination of Employment; and (z) medical benefits (as that amount is determined pursuant to paragraph 4(i) above) for 24 months; provided, however that such continued payment of the Executive’s
medical benefits shall cease if the Executive obtains full-time employment. 
  
 The Company’s obligation to make
the payments in this paragraph 5(c) shall be conditioned on the Executive’s execution of a General Release Agreement in accordance with the Company’s customary practice. 
  

	 	(d)
	 
	In the event of the termination of the Employment for one of the reasons described in paragraph (c) above, all outstanding grants of restricted stock, stock
options and stock appreciation rights previously granted to the Executive by the Company will automatically become fully vested as of the date of such termination, notwithstanding anything to the contrary contained in the terms or provisions of the
Company’s Incentive Compensation Plan. 
 

  

	 	(e)
	 
	In the event that the Employment is terminated pursuant to paragraph (a) above: (i) by the Company for Cause, or (ii) by the Executive without Good Reason; the
Executive shall be entitled to receive only his accrued salary and benefits (including a pro-rata calculation of earned vacation days) payable through the Termination Date or otherwise payable under plans maintained by the Company in accordance with
their terms and nothing else. In addition, in the event that the Executive terminates his Employment with the Company without Good Reason in accordance with paragraph 5(b) of this Agreement, the Company shall be required (even if the Company
subsequently elects to terminate the Employment of the Executive prior to the effective date of his termination in accordance with paragraph 5(b) of this Agreement) to continue to provide the Executive with his salary and benefits until the earlier
of the effective date of his termination and the end of the Term of Appointment. 
 

  

	6.
	 
	Non-Competition 
 

  
 The Executive shall not during the continuance of the Employment (unless otherwise agreed in writing by the Company) undertake any other business or profession or be or become an executive or agent of any other company, firm
or person or assist or have any financial interest in any other business or profession, if such business or profession is in competition with the business of the Company or any Associated Company but nothing in this paragraph shall preclude the
Executive from holding or acquiring less than 5% of 

 
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 the voting shares or other equity securities of any other company which are listed or dealt in on any recognized stock
exchange by way of bona fide investment. 
  

	7.
	 
	Non-Solicitation 
 

  
 The Executive covenants with the Company that he shall not during the continuance of the Employment or for a period of two (2) years after the Termination Date on his own behalf or on the behalf of any other person, firm or
company directly or indirectly endeavor to entice away from the Company any person who is then employed by the Company and was so employed by the Company during the continuance of the Employment. 
  

	8.
	 
	Confidential Information 
 

  
 The Executive shall not, either during the continuance of his Employment hereunder and up to two years after the termination of the Agreement, use to the detriment or prejudice of the Company, except
in the proper course of his duties, divulge to any person any trade secret or any other information of a confidential nature concerning the business or affairs of the Company which may have come to his knowledge during the Employment. 

 

	9.
	 
	Board Information 
 

  
 The Executive shall at all times promptly give to the Board (in writing if so requested) all such information and explanations as they may require in connection with matters relating to his Employment hereunder or with the
business of the Company. 
  

	10.
	 
	Return of Papers etc. 
 

  
 The Executive shall promptly upon the request of the Board following his termination of Employment deliver up to the Company all lists of clients or customers, correspondence and all other documents, papers and records which
may have been prepared by him or have come into his possession in the course of his Employment, and the Executive shall not be entitled to and shall not retain any copies thereof. Title and copyright therein shall vest in the Company. This paragraph
10 shall survive the Executive’s termination of employment. 
  

	11.
	 
	Misrepresentation 
 

  
 The Executive shall not at any time after the termination of his Employment hereunder wrongfully represent himself as being employed by or connected with the Company or any Associated Company. 

 
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	12.
	 
	Notices 
 

  
 Any notice in writing to be served hereunder shall be given personally to the Executive or to the Secretary of the Company (as the case may be) or shall be couriered or posted by registered mail to the Company (for the attention of
its Secretary) at its registered office for the time being or to the Executive either at his address given above or at his last known address. Any such notice sent by post shall be deemed served three days after it is posted and in proving such
service it shall be sufficient to prove that the notice was properly addressed and put in the post or couriered. 
  

	13.
	 
	Indemnity and Insurance 
 

  
 The Company hereby agrees to indemnify and hold the Executive harmless for any acts or omissions arising out of the course and scope of his Employment with the Company to the fullest extent permitted by applicable law.

  

	14.
	 
	Other Agreements 
 

  
 The Executive acknowledges and warrants that there are no agreements or arrangements whether written, oral or implied between the Company and the Executive relating to the Employment of the Executive other than those
expressly set out in the Agreement and that he is not entering into the Agreement in reliance on any representation not expressly set out herein, provided that any Restricted Stock Agreement entered into between the Executive and the Company shall
not be affected by this Agreement. This Amended Employment Agreement shall supersede any prior written or oral employment agreements between the Executive and the Company, including without limitation the Employment Agreement dated as of December 5,
2001. 
  

	15.
	 
	Successors and Assigns 
 

  
 The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of its business or assets to expressly assume this Agreement and agree to
perform under this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place. In addition, the Company may assign this Agreement (and all of its rights and obligations
hereunder) to any of its wholly-owned subsidiaries. As used in this Agreement, the term “Company” shall mean any successor or subsidiary that assumes and agrees to perform this Agreement or which otherwise becomes bound by all the terms
and provisions of this Agreement by operation of law. 
  

	16.
	 
	Governing Law 
 

  
 The Agreement shall be governed by and construed under Bermuda law and each of the parties hereto submits to the jurisdiction of the Bermuda Courts as regards any claim or matter arising under the Agreement. 

 
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	17.
	 
	Expenses 
 

  
 The Company will reimburse the Executive for legal fees and expenses incurred in connection with the negotiation, execution and delivery of this Amended Employment Agreement for an amount up to $5,000. In addition, the Company
shall reimburse the Executive in accordance with its customary practices for any legal fees and expenses in connection with the negotiations, execution and delivery of a General Release Agreement in accordance Section 5(c). 
  
  
 IN WITNESS WHEREOF the parties hereto have set their hands and seals the date first above written.

  
  
 
	 SIGNED by
 	 	 )    /S/    ROBERT CLANIN
 
	 on behalf of the Company
 	 	 )    /S/    D. SCOTT DAVIS
 
	 in the presence of:-
 	 	  

 
  
  
  
 
	 SIGNED by the Executive
 	 	 )    /S/    MARK CLOUTIER
 
	 in the presence of:-
 	 	      /S/    CYRIL RANCE
 

 

 
 10Engagement Letter

  [Houlihan Lokey Howard & Zukin Capital Letterhead]
 Exhibit 10.1
 VIA EMAIL AND FACSIMILE

Knology Broadband, Inc.
1241 O.G. Skinner Drive
West Point, GA 31833

	Attn:	 	Mr. Rodger Johnson
President and Chief Executive Officer

 Dear Mr. Johnson:
 The purpose of this
letter is to confirm the understanding and agreement (the “Agreement”) with Knology Broadband, Inc. (the “Company”) concerning the engagement of Houlihan Lokey Howard & Zukin Capital (“Houlihan Lokey”) by an
informal committee (the “Committee”) of the holders (the “Noteholders”) of 111⁄4% Senior Discount Notes due 2007 (the “Notes”) issued by the Company. Houlihan Lokey has been retained by the Committee to provide
financial advisory services in connection with the Committee’s analysis, consideration and possible formulation of potential financial restructuring options for the Company’s discussions with the Committee.
 In consideration of the Committee’s participation in discussions with the Company regarding the possible formulation of a financial restructuring of the Notes which will benefit the Company, and to allow the Committee to analyze
restructuring concepts and proposals (to the extent presented), the Company has agreed to compensate Houlihan Lokey and to undertake the indemnification obligations to Houlihan Lokey pursuant to the terms of this Agreement. None of the Committee,
its members, their constituents, or any of their advisors or professionals (including, but not limited to, counsel to be retained by the Committee (“Noteholders’ Counsel”)) shall be liable for the fees, expenses or other obligations,
contractual or otherwise, payable or due to Houlihan Lokey hereunder. Notwithstanding such arrangement, Houlihan Lokey’s duties hereunder run solely to the Committee and Houlihan Lokey is not authorized to be, and will not purport to be, an
agent of the Company for any purpose. All communication and correspondence between Houlihan Lokey and Noteholders’ Counsel and the Committee, and all work product and analyses prepared by Houlihan Lokey for Noteholders’ Counsel in
connection with this matter, are subject to the attorney-client privilege and work-product privilege.
 Commencing on April 17, 2002 the Company should pay Houlihan Lokey a fee of $150,000 per month (the
“Monthly Fee”), (with an aggregate minimum fee hereunder of $450,000 (the “Minimum Fee”)), plus the deferred fee (the “Deferred Fee”, as more fully defined in Exhibit A
hereto), plus reasonable out-of-pocket expenses that are incurred by Houlihan Lokey on behalf of Noteholders’ Counsel not to exceed $18,000 per month on an aggregate cumulative basis. The first payment of $150,000 (pro rated for April) is due
upon execution of this Agreement. Thereafter, the Company shall pay the Monthly Fee by the first day of each month, in advance for such month, plus reimbursement for reasonable and documented out-of-pocket expenses for each month. Payment shall be
made to Houlihan Lokey per the attached invoice, Attention: Saul E. Burian. Out-of-pocket expenses shall include, but not be limited to, all documented and reasonable travel expenses, duplicating charges, computer charges, messenger services,
long-distance telephone calls and legal expenses incurred by Houlihan Lokey. 
  
 
 
  

  
  Mr. Rodger Johnson
President and CEO
 This Agreement is terminable upon written notice by Houlihan
Lokey, Noteholders’ Counsel (as instructed by a majority of the Committee), or the Company, provided, however, (a) if the Agreement is terminated
during the first three months, the Company shall immediately upon such termination pay Houlihan Lokey the unpaid portion of its Minimum Fee, and (b) if the Agreement is so terminated during or after the fourth month, Houlihan Lokey shall be paid all
previously earned Monthly Fees (if unpaid) and the pro rata portion of its Monthly Fee for the month of final termination. This Agreement will automatically terminate upon the closing of a consensual restructuring transaction supported by the
relevant majority of the holders of outstanding Notes. The impact of any termination of this Agreement shall be solely to relieve the Company of as obligation to pay the Monthly Fee (other than as described above in this Paragraph) and to relieve
Houlihan Lokey of its obligation to perform services hereunder. All other terms and conditions of this Agreement shall remain in full force and effect, including the indemnification provisions herein and the obligation of the Company to pay to
Houlihan Lokey the Deferred Fee upon the consummation of a Transaction (whether consummated within the term of the Agreement, consummated within one year following its termination, or agreed to in writing by the majority of the Committee and the
Company within one year following its termination and consummated thereafter)
 In the event the Company becomes a debtor-in-possession in a case under Title 11 of the United States Code (the “Bankruptcy
Code”), the Company shall use its reasonable efforts to (a) assume this Agreement as an executory contract as part of a confirmed plan of reorganization, or (b) otherwise fulfill its obligations under this Agreement in a manner mutually
agreeable to both the Company and Houlihan Lokey. The form of documentation to satisfy the forgoing commitment shall be acceptable to Houlihan Lokey in its sole discretion. Notwithstanding the preceding, in the event the Company commences a case
under the Bankruptcy Code, Houlihan Lokey’s further performance hereunder is subject to the entry of an order (an “Order”) of the United States Bankruptcy Court having jurisdiction over such case approving the retention of Houlihan
Lokey pursuant to the terms hereof. The Order approving the Agreement and authorizing the retention shall be acceptable to Houlihan Lokey in its sole discretion.
 The Company understands that Houlihan Lokey will
not be responsible for independently verifying the accuracy of the information provided by the Company (the “Information”) and shall not be liable for inaccuracies in any Information provided by the Company to Houlihan Lokey. The Company
will use reasonable efforts to assure that all information provided to Houlihan Lokey by the Company will, as of its respective dates, be the most accurate and complete information that is available. Furthermore, the Company will use reasonable
efforts to cooperate with Houlihan Lokey in connection with the performance of Houlihan Lokey’s obligations under the Agreement.
 As a material part of the consideration for the agreement of Houlihan Lokey
to furnish its services under the Agreement, the Company agrees to indemnify and hold harmless Houlihan Lokey and its affiliates, and their respective past, present and future directors, officers, shareholders, employees, agents and controlling
persons within the meaning of either Section 15 of the Securities Act of 1933, as amended, or Section 20 of the Securities Exchange Act of 1934, as amended (collectively, the “Indemnified Parties”), to the fullest extent lawful, from and
against any and all losses, claims, damages or liabilities (or actions in respect thereof), joint or several, arising out of or related to the Agreement, any actions taken or omitted to be taken by an Indemnified Party (including acts or omissions
constituting ordinary negligence) in connection with Houlihan Lokey’s provision of services to the Committee, or any Transaction (as defined herein) or proposed Transaction contemplated thereby, and the Company agrees to reimburse the
Indemnified Parties for any legal or other expenses reasonably incurred by them in respect thereof at the time such expenses are incurred, provided, however, the Company shall not be liable under the forgoing indemnity and reimbursement agreement to
the extent any loss, claim, damage or liability is finally judicially determined to have resulted from the bad faith, willful misconduct or gross negligence of any Indemnified Party. In the event that Houlihan Lokey is not entitled to
indemnification for certain losses, claims, damages or liabilities as a result of the provision in the preceding sentence, 
  

  
  Mr. Rodger Johnson
President and CEO
 Houlihan Lokey agrees that it will reimburse the Company for
all expenses advanced by the Company to the extent attributed to such losses, claims, damages or liabilities.
 If for any reason the forgoing indemnification is unavailable to any Indemnified Party or
insufficient to hold it harmless, the Company shall contribute to the amount paid or payable by the Indemnified Party as a result of such losses, claims, damages, liabilities or expenses in such proportion as is appropriate to reflect the relative
benefits received (or anticipated to be received) by the Company, on the one hand, and Houlihan Lokey, on the other hand, in connection with the actual or potential Transaction and/or the services rendered by Houlihan Lokey. If, however, the
allocation provided by the immediately preceding sentence is not permitted by applicable law or otherwise, then the Company shall contribute to such amount paid or payable by any Indemnified Party in such proportion as is appropriate to reflect not
only such relative benefits, but also the relative fault of the Company, on the one hand, and Houlihan Lokey, on the other hand, in connection therewith, as well as any other relevant equitable considerations. Notwithstanding the foregoing, the
aggregate contribution of all Indemnified Parties to any such losses, claims, damages, liabilities and expenses shall not exceed the amount of fees actually received by Houlihan Lokey pursuant to the Agreement. 
 The Company shall not effect any settlement or release from liability in connection with any matter for which an Indemnified Party would be entitled to indemnification from the Company, unless such settlement or release contains a release of
the Indemnified Parties reasonably satisfactory in form and substance to Houlihan Lokey. The Company shall not be required to indemnify any Indemnified Party for any amount paid or payable by such party in the settlement or compromise of any claim
or action without the Company’s prior written consent. 
 The Company further agrees that neither Houlihan Lokey nor any other Indemnified Party shall have any liability, regardless of the legal theory
advanced, to the Company or any other person or entity (including the Company’s equity holders and creditors) related to or arising out of Houlihan Lokey’s engagement, except for any liability for losses, claims, damages, liabilities or
expenses incurred by the Company which are finally judicially determined to have resulted from the bad faith, willful misconduct or gross negligence of any Indemnified Party.
 The indemnity, reimbursement,
contribution and other obligations and agreements of the Company set forth herein shall apply to any modifications of the Agreement, shall be in addition to any liability which the Company may otherwise have, and shall be landing upon and inure to
the benefit of any successors, assigns, heirs and personal representatives of the Company and each Indemnified Party. The foregoing provisions shall survive the consummation of any Transaction and/or any termination of the relationship established
by this Agreement. 
 The obligations of Houlihan Lokey are solely corporate obligations, and no officer, director, employee, agent, shareholder or controlling person of Houlihan Lokey shall be subjected to any
personal liability whatsoever, in his individual capacity, to any person, nor will any such claim be asserted by or on behalf of any other party to his Agreement or any person relying on the services provided hereunder. The Company’s
obligations with respect to any and all payments owing to Houlihan Lokey and the indemnification, reimbursement, contribution and other similar obligations of the Company under this Agreement shall survive any termination of this Agreement.

  

  
  Mr. Rodger Johnson
President and CEO
 Dated and effective as of the 17th day of April 2002

	HOULIHAN LOKEY HOWARD & ZUKIN CAPITAL	 
	By: 	
/s/ SAUL E. BURIAN	 	 	 
		
			
	 	Saul E Burian
Senior Vice President	 	 	 
	 	 	 	 	 

 AGREED AND ACCEPTED AS OF 
THE DATE FIRST WRITTEN ABOVE

	Knology Broadband, Inc.	 	 	 
	By: 	
 /s/ RODGER L. JOHNSON	 	 	 
		
			
	 	Name:
Title:	 	 	 
	 	 	 	 	 

  

  
  Mr. Rodger Johnson
President and CEO
 EXHIBIT A

	 		This Exhibit A is part of and incorporated into the attached Agreement.

	 	1.	 	Deferred Fee. If a Transaction (as defined below) is consummated either in or out of court, Houlihan Lokey shall be entitled to: Deferred Fee of 1.00% of the market value of all Noteholder
Recoveries (as defined below); provided that the Deferred Fee shall be reduced by 50% of the fourth, fifth, and sixth Monthly Fee timely paid to Houlihan Lokey and the Deferred fee shall be further
reduced by 75% of each Monthly Fee timely paid to Houlihan Lokey thereafter; provided however that the Deferred Fee shall in no event be reduced to less than zero. The Deferred Fee shall be payable
in cash (or at the Company’s option, in the same consideration received by Noteholders in any Transaction) upon consummation of a Transaction.
	 	 	 
	 	2.	 	Transaction. As used herein, the term “Transaction” shall mean the consummation of (i) any tender offer, exchange offer, or consent solicitation, (ii) any agreement or series of
agreements, transaction or series of transactions, (iii) any bankruptcy plan or other in or out of court restructuring or reorganization, or (iv) any other mechanism (whether or not in connection with any new investment in the Company, any sale of
all or any portion of the Company or otherwise), pursuant to which, or in connection with, in the case of each of (i) through (iv), the principal amount or any other payment obligation of any Note is reduced, modified, converted to equity, exchanged
for a new or different obligation or otherwise compromised, provided that any such arrangement that merely extends the right of the Company to pay interest on the Notes in kind for a period of time
shall not be deemed a Transaction hereunder.
	 	 	 
	 	3. 	 	Noteholder Recoveries. “Noteholder Recoveries” shall be defined as the aggregate distribution (whether in cash, securities (debt or equity), property or other interests) or other
consideration paid or to be paid or distributed in connection with a Transaction in respect of the Notes or any other obligation arising from any instrument pursuant to which any Note was issued or otherwise related to any Note or any obligation,
suit or cause of action owned by or accruing to any Noteholder in its capacity as a holder of a Note (collectively “Note Obligations”); provided that Note Obligations shall not include Note
Obligations related to up to 50% of the outstanding principal amount of the Notes to the extent such Note Obligations are held, as of the consummation of any Transaction, by ITC Holding Company, ITC Telecom Ventures, SCANA, SCANA Communications, the
Burton Family Partnership, South Atlantic Fund, the Company or any of their subsidiaries, successors, assignees or affiliates (as such term is defined in the rules and regulations of the Securities and Exchange Commission). For the purpose of
calculating the consideration received in the Transaction, any securities received will be valued as follows: (i) if the value of such securities is disclosed in a court approved disclosure statement in support of a confirmed Chapter 11 plan, the
securities will be valued based on such disclosure statement; (ii) if the value of such securities is not disclosed in a disclosure statement in support of a Chapter 11 plan or if the Transaction is consummated out-of-court: (x) if such securities
are traded on a stock exchange, the securities will be valued at the average last sale or closing price for the ten trading days immediately prior to the closing of the Transaction; (y) if such securities are traded primarily in over-the-counter
transactions, the securities will be valued at the mean of the closing bid and asked quotations similarly averaged over a ten trading day period immediately prior to the closing of the Transaction; and (z) if such securities have not been traded
prior to the closing of the Transaction, Houlihan Lokey will prepare a valuation of the 

  

  
  Mr. Rodger Johnson
President and CEO

	 		securities and, together with the Company, will mutually agree on a fair valuation thereof for the purposes of calculating the Deferred Fee.

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