Document:

QuickLinks
 -- Click here to rapidly navigate through this document

 
 

Exhibit 10.8.2    
    

AMENDMENT NUMBER 3

TO

THE MACERICH COMPANY

EXECUTIVE OFFICER SALARY DEFERRAL PLAN  

        WHEREAS, The Macerich Company (the "Company") has established The Macerich Company Executive Officer Salary
Deferral Plan (the "Plan") to provide supplemental retirement income benefits through salary deferrals for certain of its executive officers; and 

        WHEREAS, it is desirable to amend the Plan to provide for the crediting of earnings to the account balances of Dana Anderson and to modify
the effect of a plan termination on the distribution of accounts to comply with Section 409A of the Internal Revenue Code. 

        NOW THEREFORE, the Plan is hereby amended as set forth below, effective December 15, 2004. 

 
 

ARTICLE I    
    
    TITLE AND DEFINITIONS    
    

	1.
	Section 1.2
is amended by changing the definitions of "Company Matching Account" and Deferral Account" to read as follows: 

        "Company
Matching Account' shall mean the bookkeeping account maintained by the Committee for each Participant that is credited with (a) an amount equal to the Company Matching
Amount (as defined in Section 4.2) and (b) to the extent applicable pursuant to Section 4.3(b), earnings or losses thereon in accordance with Section 4.3(b)(5)." 

        "Deferral
Account' shall mean the bookkeeping account maintained by the Committee for each Participant that is credited with (a) amounts equal to the portion of the Participant's
Salary that he elects to defer and (b) to the extent applicable pursuant to Section 4.3(b), earnings or losses thereon in accordance with Section 4.3(b)(5)." 

	2.
	Section 1.2
is amended by adding the following definitions thereto: 

        "Earnings
Rate' shall mean, for each Fund, an amount equal to the net rate of gain or loss on the assets of such Fund determined for each business day." 

        "Fund'
or "Funds' shall mean one or more of the investment funds designated in Section 4.3(b)(2)." 

 
 

ARTICLE IV    
    
    PARTICIPANT ACCOUNTS    
    

	3.
	Section 4.3
of Article IV is amended by changing its title to "Interest or Earnings" and by amending it in its entirety to read as follows: 

        "4.3—Interest or Earnings. 

        (a)    No Interest or Earnings    .No interest or earnings shall be credited to a Participant's Accounts. 

        (b)    Investment Elections for Certain Participants    . 

        (1)   Notwithstanding
Section 4.3(a), effective December 15, 2004, Dana K. Anderson shall be eligible to designate, on a form provided by the Committee or
otherwise in accordance with procedures established by the Committee, the Fund or Funds in which the amounts credited to his Deferral Account and Company Matching Account will be deemed to be invested
for purposes of determining the amount of earnings or losses to be credited to his Accounts. 

 

        (2)   As
of December 15, 2004, the Funds shall be the following: 

        1.     Northwestern
Mutual Life Guaranteed Interest Fund 

        2.     Northwestern
Mutual Life Money Market Fund 

        3.     Northwestern
Mutual Life Select Bond Fund 

        4.     Northwestern
Mutual Life High Yield Bond Fund 

        5.     Northwestern
Mutual Life Balanced Fund 

        6.     Northwestern
Mutual Life Index 500 Stock Fund 

        7.     Mason
Street Advisors Large Cap Core Stock Fund 

        8.     Northwestern
Mutual Life Growth Stock Fund 

        9.     Franklin
Templeton International Equity Fund 

        10.   Northwestern
Mutual Life Aggressive Growth Stock Fund 

        11.   Northwestern
Mutual Life Index 400 Stock Fund 

        12.   Russell
Real Estate Securities Fund 

        13.   T.
Rowe Price Small Cap Value Fund 

        (3)   In
making the designation pursuant to this Section 4.3(b), Dana Anderson must specify, in whole numbers, the percentage of his Deferral Account and Company
Matching Account that shall be deemed to be invested in one or more of the Funds. Effective as of the end of the day on which the Committee receives Dana Anderson's election, he may change the
designation made under this Section 4.3(b) by filing an election in accordance with procedures established by the Committee. If Dana Anderson fails to elect a Fund under this
Section 4.3(b), he shall be deemed to have elected the Northwestern Mutual Life Money Market Fund. 

        (4)   The
Earnings Rate of each Fund shall be used to determine the amount of earnings or losses to be credited to Dana Anderson's Accounts under this Article IV. The
Company reserves the right to increase or decrease the number of the Funds listed in Section 4.3(b)(2), as well as the right to designate other investment funds as the Funds (instead of those
currently listed in Section 4.3(b)(2)) for purposes of this Plan. 

        (5)   Dana
Anderson's Deferral Account and Company Matching Account shall be divided into separate subaccounts ("investment fund subaccounts"), each of which corresponds to an
investment fund elected by him pursuant this Section 4.3(b). As of the end of each business day, each investment fund subaccount of Dana Anderson's Deferral Account and Company Matching Account
shall be credited with earnings or losses in an amount equal to that determined by multiplying the balance of such investment fund subaccount as of the end of the prior business day by the Earnings
Rate for the corresponding Fund for the day of crediting. 

        (6)   Notwithstanding
Dana Anderson's ability to designate the Funds in which his Accounts shall be deemed to be invested, the Company shall have no obligation to invest any
funds in accordance with his election. Dana Anderson's Accounts shall merely be bookkeeping entries on the Company's books, and he shall not obtain any interest in any Funds." 

2

 

 
 

ARTICLE VII    
    
    ADMINISTRATION    
    

	4.
	Section 7.3
is amended by deleting the period at the end of paragraph (7) and adding "; and" in its place and by adding a new paragraph 8 to the end thereof to
read as follows: 

        "(8)    To
compute the Earnings Rate for each Fund in accordance with the terms of the Plan." 

 
 

ARTICLE VIII    
    
    MISCELLANEOUS    
    

	5.
	Section 8.4
is amended by adding the following sentence at the end thereof: 

"Notwithstanding
the foregoing, in the event that this Plan is terminated in full or as to Dana Anderson, the amounts credited to Dana Anderson's Deferral Account and Company Matching Account shall be
distributed to him in accordance with Section 6.1." 

        IN WITNESS WHEREOF, the Company has caused its duly authorized officers to execute this amendment this 3rd day of February,
2005. 

	 	 	THE MACERICH COMPANY
	

 	
 	

 	

 
	 	 	By:	/s/  RICHARD A. BAYER      
 Richard A. Bayer

Executive Vice President,

General Counsel and Secretary

3

QuickLinks

Exhibit 10.8.2

ARTICLE I TITLE AND DEFINITIONS

ARTICLE IV PARTICIPANT ACCOUNTS

ARTICLE VII ADMINISTRATION

ARTICLE VIII MISCELLANEOUSExhibit
4.3

 

 

SUPPLEMENTAL
INDENTURE

 

SUPPLEMENTAL INDENTURE dated as of January 20,
2005, between FAIRPOINT COMMUNICATIONS, INC., a Delaware corporation (the “Company”),
and THE BANK OF NEW YORK (as successor to United States Trust Company of New
York (the “Old Trustee”)), a New York banking corporation, as Trustee (the “Trustee”),
to the Indenture, dated as of May 24, 2000 (the “Indenture”), between the
Company and the Old Trustee, as amended as of the date hereof.  Capitalized terms used in this Supplemental
Indenture and not otherwise defined herein shall have the meanings assigned to
such terms in the Indenture.

 

WITNESSETH:

 

WHEREAS, the Company and the Old Trustee have
heretofore executed and delivered the Indenture providing for the issuance of 12-1/2%
Senior Subordinated Notes due 2010 (the “Securities”) of the Company;

 

WHEREAS, the Company intends to offer its common stock
to the public pursuant to a Registration Statement on Form S-1 (the “IPO”) and
enter into a series of transactions (the “Restructuring”) which require the
amendment and/or waiver of various provisions of the Indenture;

 

WHEREAS, Section 9.02 of the Indenture provides
that the Company and the Trustee may, with the written consent of the Holders
of at least a majority in aggregate principal amount of the Securities
outstanding, amend the Indenture and/or the Securities;

 

WHEREAS, the Company has offered to purchase for cash
all of the outstanding Securities upon the terms and subject to the conditions
set forth in the Offer to Purchase and Consent Solicitation Statement, dated January 5,
2005, as the same may be amended, supplemented or modified (the “Offer”);

 

WHEREAS, the Offer is conditioned upon, among other
things, the proposed amendments (the “Proposed Amendments”) to the Indenture
set forth herein having been approved by at least a majority in aggregate
principal amount of the Securities outstanding, with the effectiveness of such
Proposed Amendments with respect to the Indenture and the Securities being
subject to the acceptance for payment by the Company of Securities representing
a majority in aggregate principal amount of the outstanding Securities pursuant
to the Offer (the “Acceptance”);

 

WHEREAS, the Company has received and delivered to the
Trustee the requisite consents to effect the Proposed Amendments under the
Indenture and the Securities;

 

WHEREAS, the Company has been authorized by a
resolution of its Board of Directors to enter into this Supplemental Indenture;
and

 

 

WHEREAS, all other acts and proceedings required by
law, by the Indenture and the certificate of incorporation and by-laws of the
Company to make this Supplemental Indenture a valid and binding agreement of
the Company for the purposes expressed herein, in accordance with its terms,
have been duly done and performed;

 

NOW THEREFORE, in consideration of the premises and
the covenants and agreements contained herein, and for other good and valuable
consideration the receipt of which is hereby acknowledged, and for the equal
and proportionate benefit of the Holders of the Securities, the Company and the
Trustee hereby agree as follows:

 

Article I.

 

Waiver of Compliance with Indenture

 

1.1                                 The
Trustee, with the consent of a majority in aggregate principal amount of the
outstanding Securities, waives compliance with the provisions of Sections 4.02
through 4.16 of the Indenture, inclusive, Article V of the Indenture and
with any events of default set forth in Section 6.01 of the Indenture with
respect thereto arising in connection with the consummation of the IPO and the
transactions contemplated by the Restructuring, including, without limitation:

 

(a)                                  the
entry into a new senior secured credit facility in an amount up to $690.0
million;

 

(b)                                 the
repayment of all of the Company’s outstanding indebtedness; and

 

(c)                                  any
and all actions that are taken by the Company or any of its subsidiaries in
connection with the consummation of the IPO and the transactions contemplated
by the Restructuring.

 

Article II.

 

Amendments to the Indenture

 

2.1                                 Amendment
of Sections 4.02 through 4.06. 
Sections 4.02 through 4.06 of the Indenture, inclusive, are hereby
deleted in their entirety and each Section is replaced with the following:
“[intentionally omitted]”.

 

2.2                                 Amendment
of Section 4.07.  The words “270
days” which appear in two places in the first sentence of clause (c) in Section 4.07
of the Indenture are hereby deleted in their entirety in both such places and
replaced in both such places with the following: “360 days”.

 

2

 

2.3                                 Amendment
of Sections 4.08 through 4.13. 
Sections 4.08 through 4.13 of the Indenture, inclusive, are hereby
deleted in their entirety and each Section is replaced with the following:
“[intentionally omitted]”.

 

2.4                                 Amendment
of Sections 4.15 through 4.16. 
Sections 4.15 through 4.16 of the Indenture, inclusive, are hereby
deleted in their entirety and each Section is replaced with the following:
“[intentionally omitted]”.

 

2.5                                 Amendment
of Article V.  Article V of
the Indenture is hereby deleted in its entirety and is replaced with the
following: “[intentionally omitted]”.

 

2.6                                 Amendment
of Section 6.01.

 

(a)  Clauses (3), (4), (5) and (8) of the first
paragraph of Section 6.01 of the Indenture are hereby deleted in their
entirety and replaced with the following: “[intentionally omitted]”.

 

(b)                                 The
fourth paragraph reading “A Default under clause (4) is not an Event of Default
until the Trustee or the Holders of at least 25.0% in aggregate principal
amount of the Securities then outstanding notify the Company (and in the case
of such notice by Holders, the Trustee) of the Default and the Company does not
cure such Default within the time specified after receipt of such notice.  Such notice must specify the Default, demand
that it be remedied and state that such notice is a “Notice of Default”“ in Section 6.01
of the Indenture is hereby deleted in its entirety.

 

2.7                                 Amendment
of Section 8.02.  Clause (7) of
the first paragraph of Section 8.02 of the Indenture is hereby deleted in
its entirety and replaced with the following: “[intentionally omitted]”.

 

2.8                                 Amendment
of the Indenture and the Global Securities. 
Section 4 of the Global Securities is hereby amended to add the
words, “, as amended or supplemented from time to time” at the end of the first
sentence after the words “, between the Company and the Trustee”.

 

2.9                                 Amendment
of Defined Terms.

 

(a)                                  The
defined term “Asset Sale” in Section 1.01 of the Indenture is hereby
deleted in its entirety and replaced with the following:

 

““Asset Sale” means any sale, lease,
transfer, conveyance, issuance or other disposition (or series of related
sales, leases, transfers, conveyances, issuances or dispositions) by the
Company or any Restricted Subsidiary, including any disposition by means of a
merger, consolidation or similar transaction (each referred to for the purposes
of this definition as a

 

3

 

“disposition”), of (a) any shares of Capital Stock of a Restricted
Subsidiary (other than directors’ qualifying shares) or (b) any other Property
of the Company or any Restricted Subsidiary outside of the ordinary course of
business of the Company or such Restricted Subsidiary, other than, in the case
of clauses (a) and (b) above:

 

(i)                                     any
disposition by a Restricted Subsidiary to the Company or by the Company or a
Restricted Subsidiary to a Restricted Subsidiary;

 

(ii)                                  any
merger, consolidation or amalgamation of the Company with or into any other
Person (other than a merger with a Wholly Owned Subsidiary into the Company) or
a sale, transfer, assignment, lease, conveyance or other disposition of all or
substantially all of the Company’s Property in any one transaction or series of
transactions unless:

 

(A)
the Company shall be the surviving Person (the “Surviving Person”) or the
Surviving Person (if other than the Company) formed by such merger,
consolidation or amalgamation or to which such sale, transfer, assignment,
lease, conveyance or disposition is made shall be a corporation organized and
existing under the laws of the United States of America, any State thereof or
the District of Columbia;

 

(B)
the Surviving Person (if other than the Company) expressly assumes, by
supplemental indenture in form satisfactory to the Trustee, executed and
delivered to the Trustee by such Surviving Person, the due and punctual payment
of the principal of, and premium, if any, and interest on, all the Notes,
according to their tenor, and the due and punctual performance and observance
of all the covenants and conditions of the Indenture to be performed by the
Company; and

 

(C)                in the case of a
sale, transfer, assignment, lease, conveyance or other disposition of all or
substantially all the Property of the Company, such Property shall have been
transferred as an entirety or virtually as an entirety to one Person;

 

(iii)                               any
disposition or series of related dispositions for an aggregate consideration
not in excess of $1.0 million;

 

(iv)                              contemporaneous
exchanges by the Company or any Restricted Subsidiary of Telecommunications
Assets for other Telecommunications Assets in the ordinary course of business
as long as the applicable Telecommunications Assets received by the Company or
such Restricted

 

4

 

Subsidiary
have at least substantially equal Fair Market Value to the Company or such
Restricted Subsidiary (as evidenced by a resolution of the Board of Directors
of the Company);

 

(v)                                 the
grant of Liens not prohibited by the Indenture;

 

(vi)                              any
disposition of obsolete, worn-out, uneconomical or surplus property or
equipment in the ordinary course of business;

 

(vii)                           the
sale or other disposition of cash or cash equivalents (including the payment of
dividends);

 

(viii)                        the sale
or discount, in each case without recourse, of accounts receivable arising in
the ordinary course of business, but only in connection with the compromise or
collection thereof; and

 

(ix)                                any
release of intangible claims or rights in connection with the loss or
settlement of a bona fide lawsuit, dispute or controversy.”

 

(b)                                 The
defined term “Change of Control” in Section 1.01 of the Indenture is
hereby deleted in its entirety and replaced with the following:

 

““Change of Control” means the occurrence
of any of the following events:

 

(a)                                  any
“person” (as such term is used in Sections 13(d) and 14(d) of the Exchange
Act), other than one or more of the Equity Investors, becomes the “beneficial
owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly
or indirectly, of more than 50% of the total voting power of the Voting Stock
of the Company;

 

(b)                                 the
Company merges or consolidates with or into, or sells or transfers (in one or a
series of related transactions) all or substantially all of the assets of the
Company and its Restricted Subsidiaries to, another Person, other than one or
more of the Equity Investors, and any “person” (as defined in clause (a)
above), other than one or more of the Equity Investors, is or becomes the “beneficial
owner” (as so defined), directly or indirectly, of more than 50% of the total voting
power of the Voting Stock of the surviving Person in such merger or
consolidation, or the transferee Person in such sale or transfer of assets, as
the case may be;

 

(c)                                  during
any period of two consecutive years, individuals who at the beginning of such
period were members of the Board of Directors of the Company (together with any
new members thereof whose election by the

 

5

 

Board
of Directors or whose nomination for election by holders of Capital Stock of
the Company was approved by a vote of a majority of the members of the Board of
Directors then still in office who were either members thereof at the beginning
of such period or whose election or nomination for election was previously so
approved) cease for any reason to constitute a majority of the members of the
Board of Directors then in office; or

 

(d)                                 the
shareholders of the Company shall have approved any plan of liquidation or
dissolution of the Company.”

 

(c)                                  All
terms defined in Sections 1.01 and 1.02 of the Indenture and contained in the
Article, Sections and Clauses of the Indenture and the Securities deleted
pursuant to Sections 2.1 through 2.8, inclusive, of this Supplemental
Indenture, but not otherwise used elsewhere in the Indenture or the Securities,
are hereby deleted in their entirety.

 

2.10                           Amendment
of Section References.  All
references in the Indenture and the Securities to the Article, Sections and
Clauses of the Indenture and the Securities deleted pursuant to this Article II
of this Supplemental Indenture are hereby deleted, other than any references to
such Sections contained in clause (5)(i) of the first paragraph of Section 9.02
of the Indenture.

 

Article III.

 

Effectiveness

 

3.1                                 Effectiveness
of this Supplemental Indenture.  This
Supplemental Indenture is entered into pursuant to and consistent with Section 9.02
of the Indenture, and nothing herein shall constitute a waiver, amendment,
modification or deletion of the Indenture requiring the approval of each
Securityholder affected thereby pursuant to clauses (1) through (9) of the
first paragraph of Section 9.02 of the Indenture.  Upon the execution of this Supplemental
Indenture by the Company and the Trustee, the Indenture shall be amended and
supplemented in accordance herewith, and this Supplemental Indenture shall form
a part of the Indenture for all purposes and each Holder shall be bound
thereby; provided, however, that the provisions of the Indenture
and the Securities referred to in Articles I and II above (such provisions
being referred to as the “Amended Provisions”) will remain in effect in the
form they existed prior to the execution of this Supplemental Indenture, and
the waivers, amendments, modifications and deletions to the Amended Provisions
will not become operative, and the terms of the Indenture will not be waived,
amended, modified or deleted, in each case, until the Acceptance.

 

6

 

Article IV.

 

Miscellaneous

 

4.1                                 Continuing
Effect of the Indenture.  Except as expressly
provided herein, all of the terms, provisions and conditions of the Indenture
and the Securities outstanding thereunder shall remain in full force and
effect.

 

4.2                                 Reference
and Effect on the Indenture.  On and
after the Acceptance, each reference in the Indenture to “the Indenture,” “this
Indenture,” “hereunder,” “hereof” or “herein” shall mean and be a reference to
the Indenture as supplemented by this Supplemental Indenture, unless the
context otherwise requires.

 

4.3                                 Trust
Indenture Act Controls.  If any
provision of this Supplemental Indenture limits, qualifies or conflicts with
another provision of this Supplemental Indenture or the Indenture that is
required to be included by the Trust Indenture Act of 1939, as amended, as in
force at the date this Supplemental Indenture is executed, the provision
required by said Act shall control.

 

4.4                                 Governing
Law.  This Supplemental Indenture
shall be governed by, and construed in accordance with, the laws of the State
of New York but without giving effect to applicable principles of conflicts of
law to the extent that the application of the laws of another jurisdiction
would be required thereby.

 

4.5                                 Separability.  In case any provision of this Supplemental
Indenture shall be invalid, illegal or unenforceable, the validity, legality
and enforceability of the remaining provisions shall not in any way be affected
or impaired thereby.

 

4.6                                 Counterparts.  This Supplemental Indenture may be executed
in any number of counterparts, each of which so executed shall be deemed to be
an original, but all such counterparts shall together constitute but one and
the same instrument.

 

4.7                                 Trustee.  The Trustee makes no representations as to
the validity or sufficiency of this Supplemental Indenture.  The
recitals and statements herein are deemed to be those of the Company and not of
the Trustee.

 

7

 

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

 

	
   

  	
  FAIRPOINT COMMUNICATIONS, INC.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Walter E. Leach, Jr.

  	
   

  
	
   

  	
       Name: Walter E. Leach,
  Jr.

  
	
   

  	
       Title:
  Executive Vice President and Chief

  Financial Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  THE BANK OF NEW YORK,

  
	
   

  	
  as Trustee

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Derek Kettel

  	
   

  
	
   

  	
       Name: Derek Kettel

  
	
   

  	
       Title: Agent

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00081-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00081-of-00352.parquet"}]]