Document:

Unassociated Document

    
Exhibit
      (10)(g)(2)

    
 

    ALLTEL
      CORPORATION

    SPECIAL
      ANNUAL BONUS PLAN

    

    

    1.  Purpose
      of the
      Plan.  The purpose of the Alltel Corporation Special Annual
      Bonus Plan is to provide for the payment of special annual bonuses to eligible
      employees in order to encourage the continued attention and dedication of such
      employees to the performance of their duties for Alltel.

    

    2.  Definitions.  The
      following terms used in the Plan shall have the meanings set forth
      below:

    

    (a) “Administrator”
      shall mean the Compensation Committee of the Board.  With respect to
      any period during which there is no such committee, the Board shall serve as
      Administrator.

    

    (b) “Alltel”
      shall mean Alltel Corporation, a corporation duly organized under the laws
      of
      the state of Delaware, or any successor thereto.

    

    (c) “Board”
      shall mean the Board of Directors of Alltel Corporation.

    

    (d) “CEO”
      shall mean the Chief Executive Officer of Alltel Corporation.

    

    (e) “Effective
      Date” shall mean November 16, 2007

    

    (f) “Eligible
      Employee” shall mean those full-time employees of Alltel and its Subsidiaries
      who are designated as eligible to participate in the Plan.

    

    (g) “Fees”
      shall mean fees paid to the Sponsors as compensation for management, deal and
      director’s services.

    

    (h) “Plan”
      shall mean this Alltel Corporation Special Annual Bonus Plan, as the same may
      be
      amended and in effect from time to time.

    

    (i) “Special
      Annual Bonus” shall mean, with respect to an Eligible Employee, the annual bonus
      that may become payable to such Eligible Employee under the Plan.

    

    (j) “Sponsors”
      shall mean TPG/GS and so long as TPG/GS collectively continues to hold, directly
      or indirectly, at least a 50% voting interest in Alltel, any party which
      succeeds to all or a part of their right of any of them to be paid
      Fees.

    

    (k) “Subsidiary”
      means all entities, each of which is a “subsidiary” (within the meaning assigned
      to such term under Rule 405 under the Securities Act of 1933, as amended) of
      Alltel.

    

    (l) “Termination
      Date” shall mean the effective date of an Employee’s termination of employment
      with Alltel and its Subsidiaries.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    (m) “TPG/GS”
      shall mean TPG Partners V, L.P and GS Capital Partners VI, L.P. and their
      affiliates.

     

    3.  Administration.

    

    (a)  Authority.  The
      Administrator shall have full power and discretionary authority to administer
      the Plan in accordance with its terms, including full power and discretionary
      authority to construe and interpret terms of the Plan, to define the terms
      used
      herein, to prescribe, amend and rescind rules and regulations, agreements,
      forms
      and notices relating to the administration, operation or interpretation of
      the
      Plan and to make all other determinations and take all other actions necessary
      or advisable for the operation of the Plan.

    

    (b)  Limitation
      of Liability;
      Indemnification.  The Administrator shall be entitled to rely
      upon any report or other information furnished to it by any officer or other
      employee of Alltel and by any independent certified public accountant,
      compensation consultant, legal counsel or other professional retained by any
      member of the Alltel to assist in the administration of the Plan.  To
      the maximum extent permitted by law, the Administrator shall not be liable
      to
      any person for, and Alltel shall indemnify and hold the Administrator harmless
      from and against any liability in respect of, any action taken or omitted in
      good faith in connection with its administration of the Plan.

    

    4.  Eligibility.  The
      CEO shall designate the Eligible Employees for each fiscal year (the “Plan
      Year”) in consultation with the Administrator.    No other
      individual shall be eligible to participate in the Plan.

    

    5.  Special
      Annual
      Bonuses.

    

    
      	
              (a)  

            	
              Bonus
                Pool.  For each fiscal year of the Company commencing after the
                Effective Date (the “Plan Year”), the Company shall establish a bonus pool
                equal to 10% (the “Bonus Pool Percentage”) of Fees paid during such fiscal
                year to the Sponsors (the “Bonus
                Pool”).

            

    

    

    
      	
              (b)  

            	
              Special
                Annual Bonus Amount.  Each Eligible Employee shall be eligible
                to receive pursuant to the Plan in respect of a Plan Year, no later
                than
                March 15 of the year following the end of the Plan Year, a Special
                Annual
                Bonus in cash, in an amount determined at the CEO’s discretion in
                consultation with the Administrator, subject to continued employment
                through the last day of the Plan Year (the “Special Annual Bonus”). The
                aggregate amounts paid as Special Annual Bonuses paid under the Plan
                with
                regard to each Plan Year shall always be equal to the amount of the
                Bonus
                Pool.

            

    

    

    6.  Amendment
      and
      Termination.  Alltel may, in its sole discretion, with
      prospective or retroactive effect, by action of the Administrator, amend, alter,
      suspend, discontinue or terminate the Plan at any time and for any reason,
      with
      or without notice and without the consent of any employee, stockholder or other
      person; provided, however,
      that,
      without the consent of an 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Eligible
      Employee, no such action shall adversely affect the right of such Eligible
      Employee to receive any portion of the Special Annual Bonus, previously
      communicated to such Employee, if any.  Notwithstanding the foregoing,
      (A) Alltel may not make any amendment that results in (i) a reduction of the
      Bonus Pool Percentage or (ii) loss of the CEO’s discretion to determine Eligible
      Employees or allocate the Bonus Pool and (B) the Plan may not be terminated
      until following the end of the last Plan Year in which the Sponsors are paid
      any
      Fees.

    

    7.  General
      Provisions.

    

    (a)  No
      Special Employment
      Rights.  Nothing contained in the Plan shall confer upon any
      Eligible Employee any right with respect to the continuation of such Eligible
      Employee’s employment by Alltel or interfere in any way with the right of Alltel
      at any time to terminate such employment or to increase or decrease the base
      salary, other compensation or benefits of such Eligible Employee or otherwise
      modify the terms or conditions of such Eligible Employee’s employment except as
      specifically provided for hereunder.

    

    (b)  No
      Assignment by Eligible
Employees.  Each
      Eligible Employee’s rights hereunder are personal and no Eligible Employee may
      assign or transfer any part of his or her rights or duties hereunder, or any
      benefits due to him or her, to any other person, except that, in the event
      of
      the Eligible Employee’s death, any benefits payable to such Eligible Employee
      shall be paid instead to his or her Beneficiary.

    

    (c)  Certain
      Withholdings.  Alltel shall have the right to deduct from
      amounts otherwise payable under the Plan any sums that federal, state, local
      or
      foreign tax law requires to be withheld with respect to such payment, and any
      other deductions authorized by Eligible Employees.

    

    (d)  Governing
      Law.  The validity, construction and effect of the Plan and any
      rules and regulations relating to the Plan shall be determined in accordance
      with the laws of the State of Delaware, without giving effect to principles
      of
      conflicts of laws, and any applicable provisions of federal law.

    

    (e)  Funding.  The
      Plan shall be an unfunded plan.  Special Annual Bonuses paid under the
      Plan shall be paid from the general assets of the Alltel.

    

    (f)  Severability.  If
      any term or provision of the Plan or the application thereof to any person
      or
      circumstance is to any extent held invalid or unenforceable, the remainder
      of
      the Plan or the application of such term or provision to persons or
      circumstances other than those as to which it is held invalid or unenforceable
      will not be affected thereby, and each term and provision of the Plan will
      be
      valid and enforceable to the fullest extent permitted by law.

    

    (h)  Construction.  The
      captions and numbers preceding the sections of the Plan are included solely
      as a
      matter of convenience of reference and are not to be taken as limiting or
      extending the meaning of any of the terms and provisions of the
      Plan.  Whenever appropriate, words used in the singular shall include
      the plural or the plural may be read as the singular.Unassociated Document

    
Exhibit
      (10)(j)(6)

    
AMENDMENT
      NO. 5 TO
      THE

    ALLTEL
      CORPORATION

     BENEFIT
      RESTORATION
      PLAN

    

    Effective
      upon execution, the Alltel
      Corporation Benefit Restoration Plan is amended to add a new Article X at the
      end thereof to provide as follows:

     

    ARTICLE
      X

     

    SPECIAL
      EXCLUSION OF CASH IN LIEU OF STOCK OPTIONS, GOODWILL/RETENTION BONUS AND CEO
      DISCRETIONARY BONUS PAYMENTS

     

    Notwithstanding
      any other provision in
      the Plan, the amounts credited or benefits payable under the Plan with respect
      to a Participant shall be determined as if the Participant's compensation for
      all purposes (including for the Plan, Profit-Sharing Plan, Thrift Plan, and
      Pension Plan) did not include compensation attributable to cash in lieu of
      stock
      options, any amounts paid related to or paid in lieu of a change in control
      agreement and any other discretionary bonus type payments or bonus payments,
      including but not limited to, goodwill/retention bonus payments and any CEO
      discretionary bonus payments paid in accordance with Section 2.3(a) and Section
      5.4(a) of the Agreement and Plan of Merger, dated as of May 20, 2007, among
      Atlantis Holdings LLC, a Delaware limited liability company, Atlantis Merger
      Sub, Inc., a Delaware corporation, and Alltel Corporation, a Delaware
      corporation (the "Merger Agreement").  For purposes of clarity, the
      amounts credited or benefits payable under the Plan with respect to a
      Participant shall be determined as if the cash in lieu of stock options,
      goodwill/retention bonus and the CEO discretionary bonus that are paid in
      accordance with the Merger Agreement had never been paid to the
      Participant.

     

    IN
      WITNESS WHEREOF, this Amendment has
      been executed as of this 1stday
      of November,
      2007.

     

    ALLTEL
      CORPORATION

     

    By: /s/
      Scott T.
      Ford                                               

      Title:
President
      and Chief
      Executive Officer

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