Document:

Exhibit 10.15.17

 

Amended Adelphia
Communications Corporation 

 

2005
Short-Term Incentive Plan

 

1.                                      Purpose

 

The purpose of the Adelphia Communications Corporation 2005 Short-Term
Incentive Plan (the “STIP”) is to attract, retain and motivate highly-qualified
employees by providing appropriate short-term incentive awards that link each
employee’s compensation to the business objectives of Adelphia Communications
Corporation (the “Company”).  By placing
a portion of the employee’s compensation at risk, the Company can reward
performance based on the satisfaction of Company and individual performance
goals.

 

2.                                      Effective
Date

 

The effective date of the STIP is January 1,
2005.  No awards will be granted or paid
under the STIP with respect to any plan year other than the plan year beginning
January 1, 2005 and ending December 31, 2005.

 

3.                                      Eligibility
and Participation

 

a.                                            Except
as provided in Section 3(b), Company employees at the General Manager level (who lead the operations of a local system or systems)
or hold a higher position or title with the Company are generally eligible to
participate in the STIP.  Employees must
be notified in writing by the Chief Executive Officer or the President of the
Company to be eligible to receive an award under the STIP.

 

b.                                            The
following employees are not eligible to participate in the STIP:

 

i.                                         Employees
on a sales commission plan or sales incentive plan;

 

ii.                                     Temporary,
term and leased employees, contract workers and interns; or

 

iii.                                 Employees
not on the Company payroll on the date that STIP awards are paid.

 

c.                                            Eligible
employees who are on the Company payroll or serving in an eligible position for
only a portion of 2005 or for whom the STIP is effective after January 1,
2005, will have their STIP award pro-rated to reflect the portion of the year
such employee participated in the STIP. Employees performing below a
satisfactory level may forfeit their right to receive a STIP award.

 

d.                                            Eligible
employees are covered under one of the following two
STIP arrangements based on the location of the employee’s principle place of
employment:

 

i.                                         Corporate
Plan – covers employees who work in the Company’s headquarters in Greenwood
Village, Colorado or one of the Company’s centralized operations; or

 

 

ii.                                     Region
Plan – covers employees who are employed with respect to a specific region
of the country, as designated by the Compensation Committee of the Company’s
Board of Directors (the “Compensation Committee”) or its designee (each, a “Region”),
and who are not covered under the Corporate Plan.

 

e.                                            Except
as provided in an individual employment agreement with an employee, the STIP is
the sole short-term incentive arrangement under which employees of the Company
are entitled and eligible to participate.

 

f.                                              No
employee will have any claim to be granted any award under the STIP, and there
is no obligation for uniformity of treatment among employees participating in
the STIP.  In addition, nothing in the
STIP or in any award granted shall confer on any employee the right to continue
in the employ of the Company or its affiliates or to be entitled to any
remuneration or benefits not set forth in the STIP or to interfere with or
limit in any way the right of the Company to terminate such employee’s
employment.

 

4.                                      Company
Performance Criteria

 

a.                                            Target awards under the STIP will be
awarded based on a percentage of the employee’s base pay, depending upon the
employee’s job title.  Actual awards may be less (or more) than
the target award amounts, depending on satisfaction of Company, Region and
individual performance goals.

 

b.                                            Under
the Corporate Plan, subject to adjustment based on the satisfaction of
individual performance goals (as provided in section 4(d)), an eligible
employee’s bonus will first be determined based on the Company’s operating and
financial performance.  The Company’s
performance goals or measures will be weighted based on percentages determined
by the Compensation Committee or its designee, in its sole discretion.  The Company’s performance will be measured
using the following criteria:

 

•                  Basic
Subscribers;

•                  Revenue;

•                  Operating
Cash Flow;

•                  Capital
Expenditures;

•                  Customer
Care; and

•                  Internal
Controls.

 

c.                                            Under
the Region Plan, subject to adjustment based on the satisfaction of individual
performance goals (as provided in section 4(d)), an eligible employee’s
bonus will first be determined based:

 

i.                                         75%
on the financial and operating performance for the relevant Region, as
determined by the Compensation Committee or its designee, in its sole
discretion, and

 

ii.                                     25%
on the Company’s operating and financial performance (as described above in section 4(b)).

 

The performance goals for each Region will be based on the same
performance measures and weightings used for the Corporate Plan, as provided in
section 4(b).

 

 

d.                                            Once
the Company and Region performance results are determined, as provided in
Sections 4(b) and 4(c), an eligible employee’s estimated award may be
revised, upward or downward, based on individual performance/results achieved,
as determined by such employee’s supervisor(s), subject to review and approval,
as necessary, by the Compensation Committee or its designee.  However, a supervisor may not make overall
bonus recommendations for his/her Region or the Company as a whole that exceed
the sum of each individual in his/her Region’s total eligible award.

 

5.                                      Payment
of Awards

 

a.                                            During
the 1st quarter of 2006, the Chief Executive Officer and the
President of the Company will determine if the Company and each Region has
achieved their previously established performance targets and goals, subject to
approval by the Compensation Committee. 
Unless otherwise determined by the Compensation Committee or except as
provided under Sections 3(b)(iii) and 3(c),
awards, if earned, will be paid to all eligible employees by March 14,
2006.  All awards shall be made in cash.

 

b.                                            In
the event a plan participant is separated by the Company for any reason other
than cause as determined by the Plan administrator in its sole discretion, the
participant will receive:

 

i.                                         Any
accrued and unpaid STIP for the calendar year prior to the date of termination.

 

ii.                                     Subject
to execution of a general waiver and release of claims, a pro-rata portion of
the STIP for the year in which the termination occurs equal to the product of (A) the
participant’s target STIP award for such year, and (B) a fraction, the
numerator of which shall be the number of days in the calendar year which have
elapsed as of the date of termination and the denominator of which is 365.  This pro-rata portion STIP payment is not
eligible for benefit treatment (e.g. 401(k) Plan withholding).

 

6.                                      Administration,
Miscellaneous

 

a.                                            The
Plan will be administered by the Compensation Committee.  The Compensation Committee shall have the
authority in its sole discretion, subject to and not inconsistent with the
express provisions of the STIP, to administer the STIP and to exercise all the
powers and authorities either specifically granted to it under the STIP or
necessary or advisable in the administration of the STIP, including without
limitation, the authority to grant awards; to determine the persons to whom and
the time or times at which awards shall be granted; to determine the terms and
conditions, restrictions and performance goals and criteria relating to any
award (including whether such performance goals and criteria have been
attained); and to make adjustments to performance goals in response to changes
in applicable laws, regulations or accounting principles.

 

b.                                            The
Company shall deduct from all payments made under the STIP any distributions or
taxes required to be made or withheld by federal, state or local governments.

 

c.                                            The
grant of an award under the STIP is by no means a guarantee that an award will
be paid, but is based on the satisfaction of the performance criteria, as
determined by the Compensation Committee.EXHIBIT 10.15.19

 

ADELPHIA
COMMUNICATIONS CORPORATION

EXECUTIVE VICE PRESIDENT CONTINUITY PROGRAM

 

1.                                      APPLICABILITY

 

The Adelphia Communications Corporation
Executive Vice President Continuity Program (the “Program”) applies to those
Executive Vice Presidents of Adelphia Communications Corporation, a Delaware
corporation (the “Company”) and those of its affiliates that are debtors and
debtors in possession under chapter 11 of title 11 of the United States Code
whose cases (collectively, the “Chapter 11 Case”) are jointly administered
under case number 02-41729 (REG) (each, a “Debtor”, and collectively, the “Debtors”
or “Adelphia”), and who are selected to participate in accordance with Section 3
of this Program.

 

2.                                      PURPOSE
AND EFFECTIVE DATE

 

(a)                                  The
purpose of this Program is to encourage “Participants” (as defined in Section 3)
to continue their employment with the Debtors during the period of the Chapter
11 Case by establishing a program governing the circumstances under which a
Participant will be eligible to receive a stay bonus (the “Bonus”, and
collectively, the “Bonuses”) in connection with the Participant’s continued
employment through the “Payment Date” (as defined below).

 

(b)                                 The
Program is adopted and effective as of April 20, 2005 (the “Effective Date”),
in accordance with an order issued by the United States Bankruptcy Court for
the Southern District of New York (the “Bankruptcy Court”), such court having
jurisdiction over the Chapter 11 Case.

 

3.                                      ELIGIBILITY
AND AMOUNT OF BONUSES

 

Those employees of the Debtors who have
received written notice from the “Program Administrator” (as defined below)
that they have been selected for coverage under the Program shall be eligible
to participate in the Program (each a “Participant”).  Such notice shall set forth the amount of
each Participant’s Bonus and shall be distributed as soon as practicable
following the Effective Date.  The date
of such notice shall be referred to as the “Participation Date.”

 

4.                                      PAYMENT
OF BONUS

 

Subject to Section 5 below, unless
otherwise agreed between the Company and a Participant, the Bonuses shall be
payable in one lump sum payment, on the payroll date immediately following the
earlier of (i) the Emergence Date and (ii) a Change in Control (the “Payment
Date”); provided, the Participant is employed by a Debtor on the Payment
Date.

 

 

5.                                      TERMINATION
OF EMPLOYMENT

 

(a)                                  Notwithstanding
anything contained herein to the contrary, in the event a Participant’s
employment is terminated for one of the following reasons: (i) at any time
from the Participation Date through the Payment Date, as a result of death or “Disability”
(as defined in the Company’s long term disability insurance plan), or (ii) at
any time from the Participation Date through the Payment Date by a Debtor
without “Cause” (as defined below), such Participant (or his/her beneficiary in
the event of death) shall be entitled to receive his/her Bonus if the Chief
Executive Officer of the Company (“CEO”), in his sole discretion, determines
that such Participant is entitled to receive such amounts.

 

(b)                                 In
the event a Participant voluntarily terminates employment with a Debtor, or
his/her employment is terminated for any reason other than the reasons set
forth in Section 5(a) above, prior to the Payment Date, such
Participant shall be ineligible to receive his/her Bonus or any other benefit
under this Program.

 

(c)                                  Notwithstanding
anything contained herein to the contrary, a Participant may be required to
execute an agreement releasing any and all claims the Participant may have
against, among others, the Debtors or their current or former shareholders,
officers, employees or directors, each of the foregoing in their capacity as
such, (the “Release”) and any applicable revocation period set forth in the
Release must have expired, before he/she will receive payment of his/her Bonus.

 

(d)                                 Notwithstanding
anything contained herein to the contrary, the obligation of the Debtors to a
Participant to make any payments under this Program shall cease and the
Participant agrees to pay to the Debtors, upon written demand of the Company,
in a single cash, lump sum, the net after-tax amounts received under this
Program, if the Participant breaches any restrictive covenant that he/she is
bound to pursuant to any agreement with one or more of the Debtors, or an
employee benefit plan of one or more of the Debtors.

 

6.                                       DEFINITIONS.  For purposes of this Program, the
following definitions shall apply:

 

(a)                                  “Bankruptcy
Plan” shall mean the plan or plans of reorganization involving the Company in
connection with its Chapter 11 Case.

 

(b)                                 “Board”
shall mean the board of directors of the Company.

 

(c)                                  “Cause”
shall have the meaning set forth in any employment agreement a Participant has
entered into with a Debtor; provided, however, that if a
Participant is not party to such an employment agreement, “Cause” shall mean: (i) a
Participant’s refusal or repeated failure to perform the duties assigned to him
or her; (ii) any act by the Participant that has the effect of injuring
the reputation or business of the Debtor for which the Participant is employed;
(iii) the conviction by the employee of a felony; (iv) any violation
by the Participant of the rules, regulations or policies of the Debtor for
which the Participant is employed; (v) theft by the Participant; or (vi) commission
by the Participant of an act of gross misconduct, fraud or embezzlement.

 

 

(d)                                 “Change
in Control” shall mean the occurrence
of any of the following events, whether on, before or following the Emergence
Date, in each case pursuant to the terms of a definitive written agreement with
one or more of the Debtors entered into on or prior to the Emergence Date:

 

(i)                                     Consummation
of an acquisition on or after the Emergence Date by 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”))
of beneficial ownership (within the meaning of Rule 13d-3 promulgated
under the Exchange Act) of 50% or more of either (A) the then-outstanding
shares of common stock of the Company issued pursuant to the Bankruptcy Plan
(the “Outstanding Company Common Stock”) or (B) the combined voting power
of the then-outstanding voting securities of the Company issued pursuant to the
Bankruptcy Plan entitled to vote generally in the election of directors (the “Outstanding
Company Voting Securities”); or

 

(ii)                                  Consummation
of a merger, consolidation or similar corporate transaction involving the
Company or all or substantially all of its subsidiaries or a sale or other
disposition of all or substantially all of the consolidated assets of the
Company or all or substantially all of its
subsidiaries in one or more transactions
(each, a “Business Combination”); provided, however, a Business Combination
shall not constitute a Change in Control if all of the following conditions are
met:  (A) the beneficial owners of
the Outstanding Company Stock and the Outstanding Company Voting Securities
immediately prior to such Business Combination beneficially own, directly or
indirectly, more than 50% of the then-outstanding shares of common stock and
the combined voting power of the then-outstanding voting securities entitled to
vote generally in the election of directors, as the case may be, of the
corporation resulting from such Business Combination (including, without
limitation, a corporation that, as a result of such transaction, owns the
Company or all or substantially all of the Company’s assets either directly or
through one or more subsidiaries) in substantially the same proportions as
their ownership immediately prior to such Business Combination, (B) no
Person (excluding any corporation resulting from such Business Combination or
any employee benefit plan (or related trust) of the Company or such corporation
resulting from such Business Combination) beneficially owns, directly or
indirectly, 20% or more of 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 of the corporation
resulting from such Business Combination were members of the Board at the time
of the execution of the initial agreement or of the action of the Board
providing for such Business Combination; or

 

(iii)                               Consummation
of a sale or other disposition to a Person that is not an affiliate of the
Company of a “strategic cluster”, a specific division or business unit of the
Company or other Debtor for which a Participant primarily performs his/her
services that is not described in clause (ii) of this Section 6(d);
provided, that “strategic cluster”
shall mean the cable systems operated by the Company or other Debtors in the
following geographic locations: (I) Northern New England/Eastern New
York, (II) Cleveland/Greater Ohio Valley, (III) Florida/Southeast, (IV)
California/Western, (V) Virginia/Maryland/Colorado Springs/Kentucky, (VI)
Pennsylvania, and (VII) Western New York/Connecticut; provided, further, that
no Change

 

 

in Control shall be
deemed to have occurred for purposes of this Program unless the Participant
eligible to receive a Bonus has primarily performed his/her services for the
strategic cluster, specific division or business unit that was involved in such
sale or other disposition, as determined by the Program Administrator.

 

(e)                                  “Emergence
Date” shall mean the date on which the Bankruptcy Plan becomes effective in
accordance with its terms.

 

7.                                      GENERAL
PROVISIONS

 

(a)                                  Payments
under this Program shall not constitute wages and shall be paid by one or more
of the Debtors from the general assets of the Debtors; provided that no
director, officer, agent or employee of the Debtors shall be personally liable
in the event the Debtors are  unable to
make any payments under this Program due to a lack of, or inability to access,
funding or financing, legal prohibition (including statutory or judicial
limitations) or failure to obtain any required consent.  Notwithstanding anything in this Program to
the contrary, any payments to be made hereunder shall only be made as and to
the extent the Debtors have adequate funding therefor.

 

(b)                                 Payments
under this Program are subject to Federal, state and local income tax
withholding and all other applicable Federal, state and local taxes.  The Debtors shall withhold, or cause to be
withheld, from any payments made hereunder all applicable Federal, state and
local withholding taxes and may require the employee to file any certificate or
other form in connection therewith.

 

(c)                                  Nothing
contained herein shall give any Participant the right to be retained in the
employment of any Debtor, or any successor, or affect the right of the Debtors
to dismiss any Participant at will.

 

(d)                                 This
Program is not a term or condition of any individual’s employment and no
Participant shall have any legal right to payments hereunder except to the
extent all conditions relating to the receipt of such payments have been
satisfied in accordance with the terms of this Program as set forth herein.

 

(e)                                  Nothing
contained herein shall give any Participant any right to any employee benefit
upon termination of employment with any Debtor, except as specifically provided
herein, required by law or provided by the terms of another employee benefit
plan document relating to the treatment of former employees generally.

 

(f)                                    No
person having a benefit under this Program may assign, transfer or in any other
way alienate the benefit, nor shall any benefit under this Program be subject
to garnishment, attachment, execution or levy of any kind.

 

(g)                                 Except
as determined by the Plan Administrator in its sole discretion and except with
respect to benefits provided under the Adelphia Communications Corporation Sale
Bonus Program, effective as of September 21, 2004, receipt of all benefits
under this Program by any Participant shall be (i) in lieu of all other
retention payments of any kind whatsoever due to such Participant under any
other plan or agreement of one or more of the Debtors, including,

 

 

without limitation, any
benefits payable under any employment agreement between one or more of the
Debtors and the Participant that are specifically identified as a retention or stay
bonus, and (ii) deemed a waiver of a Participant’s rights with respect to
any and all such payments.

 

8.                                      ADMINISTRATION

 

(a)                                  The
Program shall be administered by the CEO. 
In the event the CEO’s employment with the Company terminates, the
Compensation Committee of the Board shall administer the Program.  The term “Program Administrator” shall refer
to the CEO, except as described in the preceding
sentence, in which case the “Program Administrator” shall refer to the
Compensation Committee of the Board or its designee (the “Compensation
Committee”).  For purposes hereof, the
CEO, subject to review and approval by the Compensation Committee, is
authorized to establish the Bonus amounts each Participant will have the
opportunity to earn hereunder, subject to any aggregate amounts available under
the Program, as approved by the Bankruptcy Court.  The CEO may designate the employees to be
covered under the Program upon, and following, the Effective Date.  In the event a Participant’s employment has
terminated, the CEO may add or substitute Participants to the Program or
reallocate the amount of the Bonus forfeited by a Participant whose employment
has terminated.

 

(b)                                 There
is no requirement that the amount of any award for any eligible employee be
uniform as to particular individuals.

 

(c)                                  Subject
to the express provisions of this Program, the Program Administrator shall have
sole authority to interpret the Program (including any vague or ambiguous
provisions) and to make all other determinations deemed necessary or advisable
for the administration of the Program. 
In addition, the determination of whether any conduct, action or failure
to act on the part of any Participant constitutes Cause, shall be made by the
Program Administrator in its sole discretion. 
All determinations and interpretations of the Program Administrator
shall be final, binding and conclusive as to all persons.

 

(d)                                 Neither
the Program Administrator nor any employee, officer, agent, or director of any
of the Debtors shall be personally liable by reason of any action taken with
respect to the Program for any mistake of judgment made in good faith, and one
or more of the Debtors shall indemnify and hold harmless each employee, officer
or director of the Debtors, including the Program Administrator, to whom any
duty or power relating to the administration or interpretation of the Program
may be allocated or delegated, against any reasonable cost or expense
(including counsel fees) or liability (including any sum paid in settlement of
a claim with the approval of the Board) arising out of any act or omission to
act in connection with the Program unless arising out of such person’s own
fraud, bad faith or gross negligence.

 

9.                                      APPLICABLE
LAW

 

This Program and all action taken under it
shall be governed as to validity, construction, interpretation and
administration by the laws of the State of Colorado and applicable Federal law.

 

 

10.                               AMENDMENT
OR TERMINATION

 

The Board may amend, suspend or terminate the
Program or any portion thereof at any time; provided, however, that unless the
written consent of a Participant is obtained, no such amendment or termination
shall materially and adversely affect the rights of such Participant.  During the pendency of the Chapter 11 Case,
no amendment or modification of the Program that materially increases the cost
of the Program to the Debtors shall be adopted without formal authorization
from the Board and thereafter, the Bankruptcy Court, upon notice.

 

IN WITNESS WHEREOF, the Company has caused
the Program to be implemented following Bankruptcy Court approval.

 

 

	
   

  	
   

  	
  ADELPHIA COMMUNICATIONS CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
    /s/ David Brunick

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