Document:

EXHIBIT 10.08

September 1, 2006

Amendment No. 3

to the

Terms and Conditions of Employment

Between

William T. Schleyer (“WTS”)

and

Adelphia Communications Corporations (the “Company”)

WHEREAS, WTS and the
Company (collectively, the “Parties”) wish to amend that certain employment
agreement executed on January 17, 2003, and amended by Amendment No. 1 thereto
on February 21, 2003 and further amended by Revised Amendment No. 2 thereto on
March 10, 2003 (the “Employment Agreement”);

WHEREAS, at the time of
the execution of the Employment Agreement, WTS and the Company contemplated
that the Company would emerge from bankruptcy as part of a plan of
reorganization where the Company would be an on-going publicly traded company;

WHEREAS, on April 21,
2005, the Company announced that it had reached a definitive agreement with
Time Warner NY Cable LLC (“Time Warner”) and Comcast Corporation, whereby Time
Warner and Comcast Corporation agreed to purchase substantially all of the
Company’s and its affiliates’ assets (the “Sale Transaction”) and on July 31,
2006 (the “Sale Date”) the Sale Transaction was consummated pursuant to section
363 of title 11 of the United States Code;

WHEREAS, the Employment
Agreement provides for awards of restricted stock and stock options upon the
Company’s emergence from bankruptcy;

WHEREAS, the Company will
not be able to award restricted stock upon the closing of the Sale Transaction;
and

WHEREAS, WTS and the
Company desire to amend the Employment Agreement as hereinafter set forth.

NOW, THEREFORE, the
Parties hereby agree to the amendment of the Employment Agreement (“Amendment
No. 3”) as follows:

1.             A new second
sentence is added to Section 1 of the Employment Agreement, reading as follows:
“If Emergence (as hereinafter defined) occurs during the term of this
agreement, WTS shall resign as CEO and Chairman of the Board upon Emergence and
shall thereafter serve as a consultant to the Company for the remaining term of
this agreement.”

2.             A new third
sentence is added to Section 2 of the Employment Agreement, reading as follows:
“Notwithstanding the foregoing, the employment of WTS pursuant to this 

 

 

agreement (whether as CEO
and Chairman or as consultant) shall terminate on March 31, 2007 unless
extended by mutual agreement or terminated prior thereto pursuant to Section 8A
of this agreement.

3.             Section 4 of
the Employment Agreement is deleted and replaced with the following: “WTS shall
be paid a bonus of 100% of base salary for the period from the Sale Date
through the remaining term of this agreement. Salary and bonus shall be paid
bi-weekly except as may otherwise be provided herein.”

4.             Section 8 of
the Employment Agreement is hereby amended by adding a new clause (f) at the
end thereof reading as follows:

(f)
Notwithstanding anything contained herein to the contrary, WTS’s employment
under this agreement (as amended through Revised Amendment No. 2 hereto) shall
be deemed to have been terminated by WTS for Good Reason upon the Sale Date and
WTS shall be entitled to the lump sum payment described above in Section 8(a)
in respect of such termination. WTS shall thereafter be employed by the Company
(whether as CEO and Chairman or as consultant) under this agreement as amended
by giving effect to Amendment No. 3 hereto; provided, however, that clauses (a)
through (e) of this Section 8 shall not apply to any termination of WTS’s
employment occurring after such lump sum payment is made.

5.             A new Section
8A is added to the Employment Agreement immediately after Section 8, reading as
follows:

8A.  Termination At Company Option After Emergence.
The Company will have the option to terminate WTS’s employment prior to March
31, 2007 upon 30 days’ prior written notice, given after the effective date of
a plan of reorganization for the Company or the date of commencement of
liquidating distributions under chapter 7 of the Bankruptcy Code (either date, “Emergence”).
For the avoidance of doubt, Section 8 shall not apply to any termination
pursuant to this Section 8A.

6.             The heading to
Section 9 of the Employment Agreement is hereby amended to read as follows: “Initial
Equity Award or Sale Transaction Closing Award.”

7.             The following
is hereby added after the last sentence of Section 9 of the Employment
Agreement: “Notwithstanding anything contained herein to the contrary, upon
consummation of the Sale Transaction, WTS shall be entitled to receive $10.2
million in cash (the “Sale Transaction Closing Award”) in lieu of the Initial
Equity Award described above in this Section 9. The Sale Transaction Closing
Award shall be paid on the first business day after approval of Amendment No. 3
to this agreement by the United States Bankruptcy Court for the Southern
District of New York, provided that WTS has previously or concurrently
executed and delivered to the Company a release in substantially the form of
Exhibit A to Amendment No. 3 hereto, together with a separate Waiver and
Release Agreement to provide for the release of claims under the Age
Discrimination in Employment Act, as amended, in substantially the form of Exhibit
B to Amendment No. 3 hereto.”

8.             The heading to
Section 10 of the Employment Agreement is hereby amended to 

 2
 

 

 

read as follows: “Potential
Equity and Cash Awards.”

9.             The heading to
Section 10(e) of the Employment Agreement is hereby amended to read as follows:
“Emergence Date Special Award or Sale Transaction Closing Special Award.”

10.           The following is
hereby added after the last sentence of Section 10(e) of the Employment
Agreement: “Notwithstanding anything contained herein to the contrary, upon
consummation of the Sale Transaction, WTS shall be entitled to receive a cash
payment of $5.1 million (the “Sale Transaction Closing Special Award”) in lieu
of the additional grant of restricted shares described above in this Section
10(e). The Sale Transaction Closing Special Award shall be paid upon Emergence.”

11.           The second
sentence of Section 13 of the Employment Agreement is hereby amended to read as
follows: “For purposes of this Agreement, “Competing Enterprise” shall mean
Qwest Communications International Inc., Verizon Communications Inc., BellSouth
Corporation, AT&T Inc., any Direct Broadcast Satellite or other
multi-channel video provider (including, but not limited to, EchoStar
Communications Corp. or DirecTV Broadband, Inc.), any multiple system operator
(including, but not limited to Comcast) or any Digital Subscriber Line provider
in the continental United States and/or Puerto Rico, in each case that has a
service area that overlaps with 10% or more of the service area of the Company.”

12.           Section 15 of
the Employment Agreement is hereby amended by replacing the words “this
agreement and of any definitive agreement” with the words “Amendment No. 3 to
this agreement” and reducing the $150,000 amount set forth therein to $80,000.

13.           This Amendment No.
3 is expressly conditioned upon approval of the United States Bankruptcy Court
for the Southern District of New York. In the event that this condition is not
satisfied, this Amendment No. 3 shall be null and void ab initio and without any further force or
effect.

14.           Except
as provided in this Amendment No. 3, the terms and conditions of the Employment
Agreement shall remain unchanged.

	
  /s/ William T. Schleyer

  	
   

  	
  ADELPHIA COMMUNICATIONS CORPORATION

  
	
  William T.
  Schleyer

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ Vanessa Wittman

  	
   

  
	
   

  	
   

  	
  By: Vanessa Wittman

  
	
   

  	
   

  	
  Its: EVP & CFO

  

 

 3

 

EXHIBIT A

WAIVER AND RELEASE
AGREEMENT

This Waiver and Release
Agreement (hereinafter “Agreement”) is executed on the dates indicated below,
by Adelphia Communications Corporation, and any parent, predecessor, or current
or former subsidiary or affiliated company of any of them, or successor of any
of them, or benefit plan maintained by any of them, and the directors,
officers, employees, shareholders (solely in their capacity as such), and
agents of any or all of them (collectively, the “Company”) and William T.
Schleyer individually, and on behalf of all successors, heirs and assigns (“Individual”).

A.            Individual and Company are party to
an employment agreement, as amended on February 21, 2003, March 10, 2003 and           
   , 2006 (the “Employment Agreement”).

B.            In consideration for the benefits
afforded to Individual by Amendment No. 3 to the Employment Agreement, and
other than claims for vested benefits and compensation, unemployment
compensation, worker’s compensation, indemnification and liability insurance as
described in the Employment Agreement, and other payments, compensation and
benefits otherwise due to Individual under Amendment No. 3 to the Employment
Agreement or under Sections 1, 2, 3, 4, 6, 7, 8, 9, 10(e), 14, 15, 16 and 19 of
the Employment Agreement, including reimbursement of any business expenses
incurred prior to Individual’s last day of employment with Company and
submitted in accordance with Company policy, due to Individual, Individual
hereby knowingly and voluntarily fully hereby irrevocably and unconditionally RELEASES, REMISES AND FOREVER DISCHARGES Company
from any and all charges, complaints, claims (as defined in 11 U.S.C. §105(5)),
liabilities, obligations, promises, agreements, controversies, damages,
actions, causes of action, suits, rights, demands, costs, losses, debts and
expenses (including attorney’s fees and costs actually incurred) of any nature
whatsoever, known or unknown, suspected or unsuspected, including, but not
limited to any and all claims arising out of or relating in any way to his
employment with the Company or the termination of his employment with the
Company that are not excepted above, any rights arising out of alleged
violations of any contracts, express or implied, any covenant of good faith and
fair dealing, express or implied, or any tort including defamation, or any
legal restrictions on Company’s right to hire, refuse to hire or terminate
employees, or any federal, state or other governmental statute, regulation or
ordinance, including, without limitation: (1) the Civil Rights Act of 1964, as
amended; (2) 42 U.S.C. § 1981; (3) the Americans with Disabilities Act (“ADA”);
(4) the Age Discrimination in Employment Act, as amended (“ADEA”); (5) the
Family and Medical Leave Act (“FMLA”); (6) the Employee Retirement Income
Security Act, as amended (“ERISA”); (7) the Sarbanes-Oxley Act; (8) any civil
rights, anti-discrimination or human rights laws of any state or locality in
which Individual was employed, resides, or resided during his employment with
the Company, and any such laws of the state of incorporation of the Company,
and (9) any other federal, state or local law; any wage claim or statute; any
claim of retaliatory treatment; any claim of wrongful discharge against public
policy; any common law claims in tort, contract, for quasi-contact, for
promissory estoppel, or for violation of the covenant of good faith and fair
dealing (hereinafter collectively referred to as “Individual Claim” or “Individual
Claims”), which Individual now has, owns or holds, or claims to have, own or
hold, or which Individual at any time heretofore had, owned or held, or claimed
to have, own or hold against Company up to and

 A-1
 

 

including the date of
payment of the Sale Transaction Closing Special Award (as defined in Amendment
No. 3 to the Employment Agreement). Individual acknowledges that upon receipt
of payments required to be made under Amendment No. 3 to the Employment
Agreement, the obligations of the Company under Sections 8, 9 and 10(a) through
(e) (as such sections existed under the Employment Agreement prior to Amendment
No. 3 thereto) will be satisfied.

Individual agrees
Individual has not filed any Claim, complaint or charge with any local, State,
or federal agency or enforcement body, and that if such a Claim, complaint or
charge is filed, Individual shall immediately withdraw such Claim, complaint or
charge; provided,  however, that the foregoing does not affect any
right to file an administrative charge with the Equal Employment Opportunity
Commission (“EEOC”), subject to the restriction that if any such charge is
filed, Individual agrees and covenants that should he or any other person,
organization, or other entity file, charge, claim, sue or cause or permit to be
filed any charge with the EEOC, civil action, suit or legal proceeding against
Company involving any matter occurring at any time in the past, Individual will
not seek or accept any personal relief (including, but not limited to, monetary
award, recovery, relief or settlement) in such charge, civil action, suit or
proceeding.

C.            Individual has not disclosed and
will not disclose Company Information (defined below) at any time prior to or
after the effective date of this Agreement, other than pursuant to his
performance of duties for Company. Individual has returned to Company, or will
return to Company by the date payment hereunder is due, all Company Property
(defined below) not purchased from Company and will return to Company if
requested by Company all documents containing Company Information and any copies,
duplicates, reproductions or excerpts of Company Information.

1.                                       “Company
Information” means any confidential or proprietary legal, financial, marketing,
business, technical, management or business plans, business strategies,
software, software evaluations, systems designs, trade secrets, personnel
information, marketing methods and techniques, customer lists, or other
information, including, but not limited to, information which Individual
prepared, caused to be prepared, or received in connection with Individual’s
employment with Company, as it relates to Company, its employees or its
customers. Company Information does not include: information or knowledge: (a)
which may subsequently come into the public domain after the Individual’s
termination of employment (or is in the public domain prior to Individual’s
termination of employment) other than by way of unauthorized disclosure by
Individual; (b) which Individual is required to disclose by applicable law,
subpoena, or order of a governmental agency or court after ten (10) days notice
(if such notice is practicable) has been provided to Company of such order or
(c) .

2.                                       “Company
Property” shall include, but not be limited to, keys, access cards, files,
memoranda, reports, software, credit cards, computer disks, instructional and
management manuals, books, cellular phones and computer equipment.

D.            Individual and Company have had an
adequate opportunity to negotiate these terms, have had an adequate opportunity
to consult with counsel if so desired, and this Agreement sets forth the
complete agreement between Individual and Company. No other 

 A-2
 

 

covenants or
representations, express or implied, have been made or relied upon, and no
other consideration, other than that set forth herein, is due or owing.

E.             Individual acknowledges that
Individual has been advised by Company to consult with an attorney prior to
executing this Agreement. Individual also acknowledges being given at least
twenty-one (21) days within which to consider this Agreement, and Individual
has been advised that for a period of seven (7) days following execution of
this Agreement, Individual may revoke this Agreement insofar as it relates to
age discrimination claims and that it shall not become effective or enforceable
as to age discrimination claims until the later of (i) the expiration of said
seven (7) day period or (ii) the date this Agreement is approved by the U.S.
Bankruptcy Court for the Southern District of New York. Individual agrees that
changes in this Agreement will not restart the running of the aforementioned
21-day consideration period. Individual also agrees that Individual may sign
this Agreement at any time during the 21-day period, and that any decision by
Individual to do so has not been induced by Company through fraud,
misrepresentation, coercion, or a threat to withdraw or alter the offer
contained in this Agreement prior to the expiration of the 21-day time period,
or by offering different terms if the Agreement is signed prior to the
expiration of the 21-day time period.

F.             Individual represents that
Individual has read this Agreement and fully understands each of its terms.
Individual further represents that no representations, promises, agreements,
stipulations, or other statements have been made by Company to induce this
Agreement, beyond those contained herein. Individual further represents that
Individual is of sound mind, and knowingly and voluntarily signs this Agreement
as Individual’s own free act, and that Individual is not acting under any
coercion or duress.

G.            If any provision of this Agreement
should be declared to be unenforceable by any administrative agency or court of
law, the remainder of the Agreement shall remain in full force and effect, and
shall be binding upon the parties hereto as if the invalidated provision were
not part of this Agreement.

H.            As a free and voluntary act,
Individual agrees that he will make no written or oral statements that directly
or indirectly disparage the Company in any manner whatsoever, including but not
limited to: (a) the working conditions or employment practices of Company or
(b) Company as a provider of cable television services or other products and
services.

I.              Subject to Section 14 of the
Individual’s Employment Agreement, all payments under this Agreement will be
subject to applicable withholding taxes.

J.             Any Individual
Claims arising under this Agreement, whether arising in contract, statute,
tort, fraud, misrepresentation, discrimination, common law or any other legal
theory, including, but not limited to disputes relating to the making,
performance or interpretation of this Agreement; whenever brought, shall be
brought in the United States District Court for the Southern District of New
York. By signing this Agreement, Individual
and the Company voluntarily, knowingly and intelligently waive any right they
each may have to a jury trial in the event of a breach of this Agreement.

 A-3
 

 

K.            This Agreement shall be governed by
and construed in accordance with the laws of the state of New York applicable
to contracts made and to be performed entirely within such state, without
regard to its conflict of laws rules to the extent such laws are not preempted
by federal law including but not limited to federal bankruptcy law.

L.             This Agreement constitutes the full
and complete integration of the parties’ agreement and all statements,
negotiations and prior agreements or understandings with respect to the subject
matter contained herein are to be deemed fully and completely merged into this
Agreement. This Agreement may be modified only by a written instrument signed
by all parties hereto. Except as otherwise provided by this Agreement, the
Employment Agreement will continue in full force and effect pursuant to its
terms. For the avoidance of doubt, paragraph 13 of the Employment Agreement
remains in effect though not specifically enumerated in clause B above.

M.           This Agreement and all documents to
be executed hereunder may be executed in multiple counterparts, each of which
may be treated as an original document.

N.            This Agreement and all documents to
be executed hereunder may be executed by facsimile, and both facsimile and
photocopies may be treated as original documents.

O.            Each person signing this Agreement
represents that he or she has the full authority to bind the party on behalf of
whom or which he or she signs to the terms of this Agreement.

P.             Notwithstanding anything to the
contrary herein, in the event (i) the approval of Amendment No. 3 by the U.S.
Bankruptcy Court for the Southern District of New York is not received, (ii)
the Company does not pay to Individual when and as required by Amendment No. 3
(x) the Sale Transaction Closing Award (as defined in Section 9 of the
Employment Agreement) or (y) the Sale Transaction Closing Special Award (as
defined in Section 10(e) of the Employment Agreement), or (iii) Individual does
not receive a release and exculpation from each Debtor (a) in the case of a
Debtor that emerges from bankruptcy through a plan of reorganization, in that
plan in the form of the exculpation and release included in the Fifth Amended
Chapter 11 Plan for Adelphia Communications Corporation and Certain of its
Affiliates, as filed on August 18, 2006 (the “Plan”), and (b) in the case of
each Debtor that emerges from bankruptcy through a liquidation, from a Trustee
appointed in that liquidation and in substantially the form of the exculpation
and release in the Plan, this Waiver and Release Agreement shall be null and
void ab initio and without any
further force or effect and the occurrence of each of the events described in
the preceding clauses (i) through (iii) is a condition to the effectiveness of
this Waiver and Release Agreement.

THIS IS A RELEASE — READ
CAREFULLY BEFORE SIGNING

 A-4
 

 

By signing below, I acknowledge
that I have read, understood and accept the terms and conditions of this
AGREEMENT, including the Dispute Resolution Provision set forth in paragraph J
above.

 

IN WITNESS
THEREOF, and intending to be legally bound, the parties have executed this
Agreement.

	
  /s/ William T. Schleyer

  	
   

  
	
  William
  T. Schleyer

  
	
   

  
	
  STATE OF NEW
  YORK

  	
    )

  
	
   

  	
    ) ss.

  
	
  COUNTY OF NEW
  YORK

  	
    )

  

 

The foregoing instrument
was acknowledged before me this 6th day of Sept., 2006, by Rebecca
Levine.

Witness my hand and
official seal.

My commission expires
2010.

	
  [SEAL]

  	
  /s/ Rebecca Levine

  
	
   

  	
  Notary Public

  

 

ADELPHIA
COMMUNICATIONS CORPORATION

“Company”

	
  By:

  	
  /s/ Vanessa
  Wittman

  	
   

  
	
   

  
	
  STATE OF COLORDO

  	
    )

  
	
   

  	
    ) ss.

  
	
  COUNTY OF
  ARAPAHOE

  	
    )

  

 

The foregoing instrument
was acknowledged before me this 20th day
of Sept., 2006, by Vanessa Wittman, duly authorized.

Witness my hand and
official seal.

My commission
expires 4/27/2010.

	
  [SEAL]

  	
  /s/ Patricia A. Conroy

  
	
   

  	
  Notary Public

  

 

 A-5

 

 

EXHIBIT
B

WAIVER AND RELEASE
AGREEMENT

This Waiver and Release
Agreement (hereinafter “Agreement”) is executed on the dates indicated below,
by Adelphia Communications Corporation, and any parent, predecessor, or current
or former subsidiary or affiliated company of any of them, or successor of any
of them, or benefit plan maintained by any of them, and the directors,
officers, employees, shareholders (solely in their capacity as such), and
agents of any or all of them (collectively, the “Company”) and William T.
Schleyer individually, and on behalf of all successors, heirs and assigns (“Individual”).

A.            Individual and Company are party to
an employment agreement, as amended on February 21, 2003, March 10, 2003 and          
   , 2006 (the `Employment Agreement”).

B.            In consideration for the benefits
afforded to Individual by Amendment No. 3 to the Employment Agreement, and
other than claims for vested benefits and compensation, unemployment
compensation, worker’s compensation, indemnification and liability insurance as
described in the Employment Agreement, and other payments, compensation and
benefits otherwise due to Individual under Amendment No. 3 to the Employment
Agreement or under Sections 1, 2, 3, 4, 6, 7, 8, 9, 10(e), 14, 15, 16 and 19 of
the Employment Agreement, including reimbursement of any business expenses
incurred prior to Individual’s last day of employment with Company and
submitted in accordance with Company policy, due to Individual, Individual
hereby knowingly and voluntarily fully hereby irrevocably and unconditionally
RELEASES, REMISES AND FOREVER DISCHARGES Company
from any and all charges, complaints, claims (as defined in 11 U.S.C. §105(5)),
liabilities, obligations, promises, agreements, controversies, damages,
actions, causes of action, suits, rights, demands, costs, losses, debts and
expenses (including attorney’s fees and costs actually incurred) of any nature
whatsoever, known or unknown, suspected or unsuspected, arising out of or
relating in any way to his employment with the Company under the Age
Discrimination in Employment Act, as amended (“ADEA”); (hereinafter referred to
as “Individual Claim” or “Individual Claims”), which Individual now has, owns
or holds, or claims to have, own or hold, or which Individual at any time heretofore
had, owned or held, or claimed to have, own or hold against Company up to and
including the date indicated below. Individual acknowledges that upon receipt
of payments required to be made under Amendment No. 3 to the Employment
Agreement, the obligations of the Company under Sections 8, 9 and 10(a) through
(e) (as such sections existed under the Employment Agreement prior to Amendment
No. 3 thereto) will be satisfied.

Individual agrees
Individual has not filed any Claim, complaint or charge with any local, State,
or federal agency or enforcement body, and that if such a Claim, complaint or
charge is filed, Individual shall immediately withdraw such Claim, complaint or
charge; provided, however, that the foregoing does not affect any
right to file an administrative charge with the Equal Employment Opportunity
Commission (“EEOC”), subject to the restriction that if any such charge is
filed, Individual agrees and covenants that should he or any other person,
organization, or other entity file, charge, claim, sue or cause or permit to be
filed any charge with the EEOC,

 B-1
 

 

 

civil action, suit or legal proceeding against Company
involving any matter occurring at any time in the past, Individual will not
seek or accept any personal relief (including, but not limited to, monetary
award, recovery, relief or settlement) in such charge, civil action, suit or
proceeding.

C.            Individual and Company have had an
adequate opportunity to negotiate these terms, have had an adequate opportunity
to consult with counsel if so desired, and this Agreement sets forth the
complete agreement between Individual and Company. No other covenants or
representations, express or implied, have been made or relied upon, and no
other consideration, other than that set forth herein, is due or owing.

D.            Individual acknowledges that
Individual has been advised by Company to consult with an attorney prior to
executing this Agreement. Individual also acknowledges being given at least
twenty-one (21) days within which to consider this Agreement, and Individual
has been advised that for a period of seven (7) days following execution of
this Agreement, Individual may revoke this Agreement with respect to the ADEA
claims and that it shall not become effective or enforceable as to the ADEA
claims until the later of (i) the expiration of said seven (7) day period or
(ii) the date this Agreement is approved by the U.S. Bankruptcy Court for the
Southern District of New York. Individual agrees that changes in this Agreement
will not restart the running of the aforementioned 21-day consideration period.
Individual also agrees that Individual may sign this Agreement at any time
during the 21-day period, and that any decision by Individual to do so has not
been induced by Company through fraud, misrepresentation, coercion, or a threat
to withdraw or alter the offer contained in this Agreement prior to the
expiration of the 21-day time period, or by offering different terms if the
Agreement is signed prior to the expiration of the 21-day time period.

E.             Individual represents that
Individual has read this Agreement and fully understands each of its terms.
Individual further represents that no representations, promises, agreements,
stipulations, or other statements have been made by Company to induce this
Agreement, beyond those contained herein. Individual further represents that
Individual is of sound mind, and knowingly and voluntarily signs this Agreement
as Individual’s own free act, and that Individual is not acting under any
coercion or duress.

F.             If any provision of this Agreement
should be declared to be unenforceable by any administrative agency or court of
law, the remainder of the Agreement shall remain in full force and effect, and
shall be binding upon the parties hereto as if the invalidated provision were
not part of this Agreement.

G.            As a free and voluntary act,
Individual agrees that he will make no written or oral statements that directly
or indirectly disparage the Company in any manner whatsoever, including but not
limited to: (a) the working conditions or employment practices of Company or
(b) Company as a provider of cable television services or other products and
services.

H.            Subject to Section 14 of the
Individual’s Employment Agreement, all payments under this Agreement will be
subject to applicable withholding taxes.

 B-2
 

 

 

I.              Any
Individual Claims arising under this Agreement, whether arising in contract,
statute, tort, fraud, misrepresentation, discrimination, common law or any
other legal theory, including, but not limited to disputes relating to the
making, performance or interpretation of this Agreement; whenever brought,
shall be brought in the United States District Court for the Southern District
of New York. By signing this Agreement,
Individual and the Company voluntarily, knowingly and intelligently waive any
right they each may have to a jury trial in the event of a breach of this
Agreement.

J.             This Agreement shall be governed by
and construed in accordance with the laws of the state of New York applicable
to contracts made and to be performed entirely within such state, without
regard to its conflict of laws rules to the extent such laws are not preempted
by federal law including but not limited to federal bankruptcy law.

K.            This Agreement constitutes the full
and complete integration of the parties’ agreement and all statements,
negotiations and prior agreements or understandings with respect to the subject
matter contained herein are to be deemed fully and completely merged into this
Agreement. This Agreement may be modified only by a written instrument signed
by all parties hereto. Except as otherwise provided by this Agreement, the
Employment Agreement will continue in full force and effect pursuant to its
terms. For the avoidance of doubt, paragraph 13 of the Employment Agreement
remains in effect though not specifically enumerated in clause B above.

L.             This Agreement and all documents to
be executed hereunder may be executed in multiple counterparts, each of which
may be treated as an original document.

M.           This Agreement and all documents to
be executed hereunder may be executed by facsimile, and both facsimile and
photocopies may be treated as original documents.

N.            Each person signing this Agreement
represents that he or she has the full authority to bind the party on behalf of
whom or which he or she signs to the terms of this Agreement.

O.            Notwithstanding anything to the
contrary herein, in the event (i) the approval of Amendment No. 3 by the U.S.
Bankruptcy Court for the Southern District of New York is not received, (ii)
the Company does not pay to Individual when and as required by Amendment No. 3
(x) the Sale Transaction Closing Award (as defined in Section 9 of the
Employment Agreement) or (y) the Sale Transaction Closing Special Award (as
defined in Section 10(e) of the Employment Agreement), or (iii) Individual does
not receive a release and exculpation from each Debtor (a) in the case of a
Debtor that emerges from bankruptcy through a plan of reorganization, in that
plan in the form of the exculpation and release included in the Fifth Amended
Chapter 11 Plan for Adelphia Communications Corporation and Certain of its
Affiliates, as filed on August 18, 2006 (the “Plan”), and (b) in the case of
each Debtor that emerges from bankruptcy through a liquidation, from a Trustee
appointed in that liquidation and in substantially the form of the exculpation
and release in the Plan, this Waiver and Release Agreement shall be null and
void ab initio and without any
further force or effect and the occurrence of each of the events described in
the preceding clauses (i) through (iii) is a condition to the effectiveness of
this Waiver and Release Agreement.

 B-3
 

 

 

THIS IS A RELEASE — READ
CAREFULLY BEFORE SIGNING

By signing below, I acknowledge
that I have read, understood and accept the terms and conditions of this
AGREEMENT, including the Dispute Resolution Provision set forth in paragraph I
above.

IN WITNESS
THEREOF, and intending to be legally bound, the parties have executed this
Agreement.

	
  /s/ William T. Schleyer

  	
   

  
	
  William
  T. Schleyer

  
	
   

  
	
  STATE OF NEW
  YORK

  	
  )

  
	
   

  	
  ) ss.

  
	
  COUNTY OF NEW
  YORK

  	
  )

  

 

The foregoing instrument
was acknowledged before me this 7th day of September, 2006, by
Rebecca Levine.

Witness my hand and
official seal.

My commission expires
2010.

	
  [SEAL]

  	
  /s/ Rebecca Levine

  
	
   

  	
  Notary Public

  

 

ADELPHIA COMMUNICATIONS CORPORATION

“Company”

	
  By:

  	
  /s/ Vanessa
  Wittman

  	
   

  
	
   

  
	
  STATE OF COLORDO

  	
  )

  
	
   

  	
  ) ss.

  
	
  COUNTY OF
  ARAPAHOE

  	
  )

  

 

The foregoing instrument
was acknowledged before me this 20th day of Sept., 2006, by Vanessa
Wittman, duly authorized.

Witness my hand and
official seal.

My commission expires
4/27/2010.

	
  [SEAL]

  	
  /s/ Patricia A. Conroy

  
	
   

  	
  Notary Public

  

 

 B-4EXHIBIT
10.09

FIRST
AMENDMENT TO

EMPLOYMENT
AGREEMENT

This
FIRST AMENDMENT (this “First Amendment”) to the Employment Agreement, made and
entered into by and between Adelphia Communications Corporation, a Delaware
corporation (together with its successors and assigns, the “Company”), and
Vanessa Wittman (the “Executive”) is effective as of the 31st day of May 2006 (the “Effective Date”).

WHEREAS,
the Executive and the Company entered into that certain Employment Agreement
dated May 8, 2003 (the “Employment Agreement”), attached hereto as Exhibit A;
and

WHEREAS,
the Company and the Executive now desire to amend the Employment Agreement to
provide for the payment of severance benefits in a lump sum and to comply with
Section 409A of the Internal Revenue Code of 1986, as amended.

NOW,
THEREFORE, in consideration of the premises and the mutual agreements
hereinafter contained, the parties do hereby amend the Employment Agreement as
follows, effective as of the Effective Date:

1.               Section 9(c)(v)
shall be amended in its entirety to provide as follows:

“(v) payment of an amount
equal to two times the Base Salary (based on such Base Salary in effect
immediately prior to Executive’s termination); such amount to be paid to
Executive in a lump sum within 15 days following Executive’s termination date;
and”

2.               Section 9(c)(vi)
shall be amended in its entirety to provide as follows:

“(vi) payment of an
amount equal to the COBRA premiums for Company-paid health insurance for
Executive (on the same basis as provided to Executive immediately prior to
Executive’s termination) for the one-year period following Executive’s
termination, such amount to be paid to Executive in a lump sum within 15 days
following Executive’s termination date.”

3.               New Section 9(f)
shall be added to the Employment Agreement and shall read as follows:

“(f)                              Delayed
Payments.  Notwithstanding any
provision herein to the contrary, any payment otherwise required to be made
hereunder to Executive at any date as a result of the termination of Executive’s
employment shall be delayed for such period of time as may be necessary to
satisfy Section 409A(a)(2)(B)(i) of the Internal Revenue Code of 1986, as
amended (the “Code”).  On the earliest
date on which such payments can be made without violating the requirements of
section 409A(a)(2)(B)(i) of the Code,

 

there shall be paid to Executive, in a single cash lump sum, an amount
equal to the aggregate amount of all payments delayed pursuant to the preceding
sentence.”

 

4.               Defined terms used
herein and not otherwise defined in this First Amendment shall have the same
meaning ascribed to them in the Employment Agreement.

5.               Except as amended
and modified hereby, the terms of the Employment Agreement shall remain in full
force and effect.

6.               THIS FIRST
AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF COLORADO APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED ENTIRELY
WITHIN SUCH STATE, WITHOUT REGARD TO ITS CONFLICT OF LAWS RULES TO THE EXTENT
SUCH LAWS ARE NOT PREEMPTED BY FEDERAL BANKRUPTCY LAW.

The
parties hereby (i) submit to the exclusive jurisdiction of the courts of the
State of Colorado and the U.S. federal courts sitting in Colorado, provided
that until the consummation of the Plan, the Bankruptcy Court shall have
exclusive jurisdiction for any action or proceeding relating to this First
Amendment, (ii) consent that any such action or proceeding may be brought
in any such venue, (iii) waive any objection that any such action or
proceeding, if brought in any such venue, was brought in any inconvenient forum
and agree not to claim the same, (iv) agree that any judgment in any such
action or proceeding may be enforced in other jurisdictions, (v) consent to
service of process at the address set forth in Section 22 of the Employment Agreement
(or to such other addresses as Party may designate by notice to the other
Party), and (vi) to the extent applicable, waive their respective rights to a
jury trial of any claim or cause of action based on or arising out of this
First Amendment or any dealings between them relating to the subject matter of
this First Amendment.

7.               This First
Amendment may be executed in one or more counterparts (including by facsimile),
each of which shall be deemed an original and all of which together shall be
considered one and the same instrument.

[signature page
follows]

 

IN WITNESS
WHEREOF, the parties hereto have entered into the First Amendment to the
Employment Agreement as of the day and year first written above.

 

	
   

  	
  VANESSA WITTMAN

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/  Vanessa
  Wittman

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  ADELPHIA COMMUNICATIONS

  CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ David R.
  Brunick

  	
   

  
	
   

  	
  By: David R.
  Brunick

  
	
   

  	
  Title: SVP HR

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