Document:

EX-10.3(r)

 Exhibit 10.3 (r) 
  

 
 

 
 October 29, 2015 
 Roger
D. Shannon 
 * 
 * 

Dear Roger, 
 We are pleased to extend to you the following
offer of employment with ADTRAN Inc., as a Senior Vice President and Chief Financial Officer reporting to Tom Stanton, CEO, located in Huntsville, Alabama. Your compensation will include a bi-weekly paid salary of $14,038.46 (gross) resulting
in an annualized salary of $365,000.00 (gross).
 As an officer of the company, you will be recommended to participate in the Variable Incentive
Compensation Plan with a target incentive compensation of $219,000.00. 50% guaranteed floor on 2016 Variable Incentive Compensation Plan in the amount of $109,500.00 to be paid in Q1 2017. 

In appreciation for your decision to join us, the Company will pay you a hiring bonus of $220,000 (gross) paid in Q1 2016. If you voluntarily leave the employ
of ADTRAN within the first twelve months of your hire date, other than for Good Reason, you will be responsible to reimburse the Company for the hiring bonus paid to you. It being understood and agreed that “Good Reason” includes a
significant decrease in your base compensation, a decrease in your title and/or responsibilities, a change in your reporting to a position other than the CEO, or a requirement that you move to a work location more than 25 miles from ADTRAN’s
current headquarters. Additionally, you will be required to reimburse the Company for the hiring bonus paid to you if you fail to relocate your family within twelve months of your hiring date. In the event of extenuating, unforeseen family
circumstances that could delay the move of your family (e.g. death, serious medical conditions, etc.), the Company agrees that the requirement to relocate within twelve months may be extended. 

You will receive or be eligible to participate in the Company benefit plans, including the following additional employee benefits: 

 

	 	•	 	Eligibility for life, health, dental & disability insurance 

  

	 	•	 	3 weeks of vacation 

  

	 	•	 	Executive relocation assistance 

 This offer of employment contains a relocation package (E). If you
voluntarily leave the employ of ADTRAN within the first twelve months of employment other than for Good Reason, you will be responsible to reimburse the Company for all relocation expenses paid to you or paid on your behalf. According to IRS
regulations some elements of relocation expenses are considered taxable income. ADTRAN agrees to “gross up” relocation expenses for tax purposes. You should consult your tax person regarding the possible tax impacts of your relocation.

  

	*	CONFIDENTIAL TREATMENT REQUESTED 

 You are eligible to enroll in the ADTRAN 401(k) plan upon hire. You may defer up to 60% of your eligible
income up to the IRS annual maximum. ADTRAN will match eligible 401(k) contributions after a Plan participant completes 12 months of service. Matching contributions will equal 100% of the first 3% contributed and 50% of the next 2%
contributed up to a maximum matching contribution of 4%. Company matching contributions will begin on the first anniversary of employment and are applied retroactively to all contributions made during the calendar year in which you become match
eligible. 
 A recommendation will be made to the Compensation Committee of the ADTRAN Board of Directors to grant you an incentive stock option for 30,000
shares of ADTRAN Inc. common stock under the ADTRAN 2015 Employee Stock Incentive Plan (the “Plan”). The Compensation Committee has complete discretion to grant options, although we expect that the Compensation Committee would approve this
grant at its next meeting immediately following the recommendation made by the Company. The exercise price per share of the common stock will be the fair market value of the common stock on the date that the Compensation Committee grants the option.
Upon the Committee’s grant of this option, you will receive further information describing your stock option and the terms and conditions of the Plan under which the option will be awarded, including applicable change in control provisions.

 Subject to Board of Directors’ approval, you will be granted a performance restricted stock unit award with respect to 5,200 shares of ADTRAN Inc.
common stock vesting over a three year period. 
 This offer is contingent upon the successful outcome of the following: 

 

	 	•	 	Background check 

  

	 	•	 	Substance Abuse examination 

  

	 	•	 	Your employment not being encumbered by a “non-compete” or similar agreement 

 Your decision should
be given to us October 30, 2015. ADTRAN is an at will employer which means that you or the Company may terminate employment, with or without cause, with reasonable notice.

Roger, we are very impressed with your background and experience and feel that you will make a significant contribution to the growth and expansion of
ADTRAN. Please acknowledge your decision by either accepting or declining the offer below. 
 Sincerely, 

 

	
	 /s/ Jason Couch

	 Jason Couch
 Human Resources Recruiter

ADTRAN, Inc.

  

							
	 /s/ Roger D. Shannon
	  	10/30/2015	  		  	
	Roger D. Shannon	  	DateEX-4.1

 Exhibit 4.1 

OMNIBUS AMENDMENT TO SPECIFIED TERMS DOCUMENTS 

THIS OMNIBUS AMENDMENT TO SPECIFIED TERMS DOCUMENTS, dated as of February 24, 2016 (this “Agreement”), is entered into
between: (i) Discover Card Execution Note Trust, a Delaware statutory trust, as issuer (the “Issuer”), and (ii) U.S. Bank National Association, a national banking association, as indenture trustee under the Indenture
referred to below (in such capacity, the “Indenture Trustee”). 
 WHEREAS, the Indenture Trustee and the Issuer are parties
to (i) the Amended and Restated Indenture, dated as of December 22, 2015, as supplemented by the Second Amended and Restated Indenture Supplement, dated as of December 22, 2015, each by and between the Issuer and the Indenture Trustee
(collectively, the “Indenture”) and (ii) certain Class C Terms Documents listed on Exhibit A (collectively, the “Class C Terms Documents”); 

WHEREAS, the parties hereto intend to amend the Class C Terms Documents as set forth herein; 

WHEREAS, this Agreement is being entered into pursuant to Section 1002 of the Indenture, and all conditions precedent to the execution of
this Agreement, as set forth in such Section 1002, have been satisfied; and 
 NOW, THEREFORE, in consideration of the foregoing and
other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 

SECTION 1. DEFINITIONS. As used herein, (a) capitalized terms which are defined in the preamble hereto shall have the meanings as
so defined and (b) capitalized terms not so defined shall have the meanings set forth in the Indenture or the applicable Class C Terms Document, as amended hereby. 

SECTION 2. AMENDMENTS TO CLASS C TERMS DOCUMENTS. Each of the Class C Terms Documents is amended by replacing in its entirety the
definition of “Class C Reserve Account Percentage” thereof, with the following: 
 “ “Class C Reserve Account
Percentage” means 0.00%.” 
 SECTION 3. EFFECTIVENESS. This Agreement shall become effective as of the date first set
forth above; provided that (i) each of the Indenture Trustee and the Issuer shall have executed and delivered a counterpart of this Agreement, (ii) the Rating Agency Condition shall have been satisfied and (iii) the Issuer
shall have received written consent from the holder of the Class C Notes issued pursuant to the Class C Terms Documents to enter into this Agreement. 

 SECTION 4. BINDING EFFECT; RATIFICATION. (a) On and after the execution and delivery
hereof, (i) this Agreement shall be a part of each of the Class C Terms Documents and (ii) each reference in any Class C Terms Document to “this Agreement”, “this Amendment”, “hereof”, “hereunder” or
words of like import, and each reference in any other Related Document to any Class C Terms Document, shall mean and be a reference to the applicable Class C Terms Document as amended hereby. 

(b) Except as expressly amended hereby, each Class C Terms Document shall remain in full force and effect and is hereby ratified and confirmed
by the parties hereto. 
 SECTION 5. NO RECOURSE. It is expressly understood and agreed by the parties hereto that (a) this
Agreement is executed and delivered by Wilmington Trust Company, not individually or personally but solely as trustee of the Issuer, in the exercise of the powers and authority conferred and vested in it, (b) each of the representations,
undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by Wilmington Trust Company but is made and intended for the purpose of binding only the Issuer,
(c) nothing herein contained shall be construed as creating any liability on Wilmington Trust Company, individually or personally, to perform any covenant either expressed or implied contained herein, all such liability, if any, being expressly
waived by the parties hereto and by any Person claiming by, through or under the parties hereto and (d) under no circumstances shall Wilmington Trust Company be personally liable for the payment of any indebtedness or expenses of the Issuer or
be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or any other related documents. 

SECTION 6. NO PETITION. The Indenture Trustee covenants that it will not directly or indirectly institute or cause to be instituted
against the Issuer any bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding or other proceeding under any Federal or state bankruptcy law and it will not directly or indirectly institute or cause to be instituted against the
Transferor any bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding or other proceeding under any Federal or state bankruptcy law in any instance; provided, that the foregoing shall not in anyway limit the
Noteholders’ rights to pursue any other creditor rights or remedies that the Noteholders may have for claims against the Issuer. 

SECTION 7. MISCELLANEOUS. (a) THIS AGREEMENT AND THE OBLIGATIONS ARISING HEREUNDER SHALL IN ALL RESPECTS, INCLUDING ALL MATTERS OF
CONSTRUCTION, VALIDITY, AND PERFORMANCE, BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING SECTION 5-1401 OF THE NEW YORK 

  
 2 

 
GENERAL OBLIGATIONS LAW, BUT WITHOUT REGARD TO ANY OTHER CONFLICT OF LAWS PROVISIONS THEREOF) AND ANY APPLICABLE LAWS OF THE UNITED STATES OF AMERICA. 

(b) Headings used herein are for convenience of reference only and shall not affect the meaning of this Agreement. 

(c) This Agreement may be executed in any number of counterparts, and by the parties hereto on separate counterparts, each of which shall be
an original and all of which taken together shall constitute one and the same agreement. Executed counterparts may be delivered electronically. 

* * * * * * 

  
 3 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as
of the date first above written. 
  

			
	DISCOVER CARD EXECUTION NOTE TRUST, as Issuer
	
	By: WILMINGTON TRUST COMPANY, not in its individual capacity, but solely as Trustee on behalf of the Issuer
		
	By:	 	/s/ Jennifer A. Luce
	 Name:
	 	 Jennifer A. Luce

	 Title:
	 	 Vice President

  
 Omnibus Amendment to Specified
Terms Documents 

  
 S-1 

 
			
	U.S BANK NATIONAL ASSOCIATION, not in its individual capacity, but solely as the Indenture Trustee
		
	By:	 	/s/ Edwin J. Janis
	 Name:
	 	 Edwin J. Janis

	 Title:
	 	 Vice President

  
 Omnibus Amendment to Specified
Terms Documents 

  
 S-2 

 EXHIBIT A 

1.         The Class C(2013-1) Terms Document, dated as of September 27, 2013, between the
Indenture Trustee and the Note Issuance Trust. 
 2.         The Class C(2014-2) Terms Document,
dated as of April 30, 2014, between the Indenture Trustee and the Note Issuance Trust. 
 3.
        The Class C(2014-3) Terms Document, dated as of December 9, 2014, between the Indenture Trustee and the Note Issuance Trust. 

 
 Omnibus Amendment to Specified Terms Documents

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00254-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00254-of-00352.parquet"}]]