Document:

Global Crossing 2009 Discretionary Incentive Bonus Program

 Exhibit 10.1 
 April 15, 2009 
 GLOBAL CROSSING 
 2009 
 Discretionary Incentive Bonus Program 
 COMPANY CONFIDENTIAL MATERIAL 
 This Program document is not a contract. 
  

	1.	OVERVIEW: 

 The Discretionary Incentive Bonus
Program (the “Program”) was established by Global Crossing Limited (together with its subsidiaries, the “Company”) to provide certain designated employees with the potential for an annual bonus
opportunity. The Program is also intended to assist Global Crossing in its continuing efforts at attracting, retaining, and motivating qualified employees and aligning the interests of its employees toward the collective achievement of company
objectives. 
 As applied to any particular employee, the Program shall be governed solely by this document and by the terms of the
country-specific addendum for the country in which the employee is employed (the “Applicable Country-Specific Addendum”). The Applicable Country-Specific Addendum may vary the provisions and implementation of the Program
provisions as deemed appropriate to conform with local laws, practices and procedures. In the event of a conflict between the terms of this document and the Applicable Country-Specific Addendum, the terms of the Applicable Country-Specific Addendum
shall control. 
 The Program differs in important respects from bonus programs used in prior years. This document and the Applicable
Country-Specific Addendum should be read carefully.
  

	2.	PROGRAM ADMINISTRATION: 

 The Program shall
be administered by the Compensation Committee of the Company’s Board of Directors (the “Committee”), which shall have all powers and authority necessary for carrying out its duties under the Program. The Committee shall
have the full power and authority to interpret and apply the provisions of the Program, to make any and all required determinations and calculations, and to decide with finality any and all other matters or disputes arising under the Program. To be
clear, the Committee shall have the authority to exercise subjective discretion in all manners of determining payable final bonus award amounts, if any, to individual Participants under the Program. The bonus amount awarded, if any, for each
individual Participant may be reduced or eliminated by the Committee in its sole discretion. 
 The Committee is empowered to delegate any or
all responsibilities and discretions for Program administration to Company management, in accordance with such guidelines as the Committee may approve from time to time. Any reference herein to the “Committee” shall include such delegates
to the extent of such delegation. 

 “Discretionary Adjustment Factor” means the authority of the Committee to adjust
the Company’s total calculated Initial Bonus Pool upward or downward in its sole discretion and its commensurate authority to ultimately determine whether to award a bonus amount to any individual Participant and to reduce or eliminate the
amount, if any, thereof based upon such objective and subjective factors as the Committee may deem appropriate in its sole discretion. 
 “Performance Criteria” mean those objective performance measures approved and utilized as guidelines in the Program by the Committee to determine the level of the Initial Bonus Award Pool, if any, which is always
then subject to the Discretionary Adjustment Factor. 
 The Committee’s decisions and determinations as to any and all aspects of the
Program and/or the application of its provisions shall be final and binding on all persons and/or entities concerned about or interested in the Program in any manner. 
  

	3.	AMENDMENT AND MODIFICATION: 

 The Committee,
in its sole discretion, at any time, without prior notice and without the consent of Participants, may suspend or terminate the Program in its entirety, or may terminate, suspend, modify, amend, or alter any or all of the Program’s provisions,
in whole or in part, including by any method or in any manner adversely affecting Participant interests. No Participant individually, nor any group of Participants, nor any other person or group, shall hold or accrue any vested entitlement, legal or
equitable claim, or contractual right, whatsoever, under the Program or regarding its administration or implementation, at any time before the actual completion of the distribution transactions of any funds or other awards that the Committee may
ultimately determine are to be paid to Participants under the Program for a plan period. 
  

	4.	ELIGIBILITY AND PARTICIPATION: 

 The
designation of Employees as Participants under the Bonus Program shall be determined and approved by the Committee, in its sole discretion. No Employee at the Company nor any other individuals or groups will have any right or entitlement to be
designated as a Participant in any program period or subsequently remain a Participant under the Program. 
 In order for any Employee to
qualify for a potential payout under the Bonus Program, that Employee must first comply with all requirements of the Applicable Country-Specific Addendum, including any requirement to specifically acknowledge that even if the performance objectives
are in fact achieved, the Committee may decide in its sole discretion to terminate or modify the Program, to make no payout under the Program, or to reduce, delay or impose conditions on any such payout. Each Employee further acknowledges that,
except as otherwise required by applicable law, he or she is solely responsible for the payment of all taxes (or similar obligations) in respect of any award made under the Program and that in the event the Committee elects to make a payout in the
form of Company stock that no guarantee is made by the Company as to the ability of such Employee to sell such stock or the price that may be received for it. 
  

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 “Employee” means an employee of the Company. 
 “Participant” means an Employee who is selected by the Committee to participate in the Program. 
 All regular non-sales Employees that are actively employed and maintained on the Company payroll at the time of actual bonus payment distributions, if
any, are eligible to participate in the Program. In addition, to be eligible, an employee must be in good standing (no disciplinary warnings or performance improvement plan) at the time of actual bonus payment distribution. The Committee, in its
sole discretion, may designate which, if any, Employees will be considered Participants in the Program by individual, groups, specified job categories, classifications, levels, subsidiaries, or any other means of classification. 
 Employees on a non-regulated, unpaid leave without benefits on the actual date of bonus payment distributions are not considered active employees and are
therefore ineligible. Employees in sales commissionable positions, Employees participating in other special incentive plans, and Employees covered by a collective bargaining agreement, are ineligible. Independent contractors, interns, and any
individuals in other non-employee classifications at the Company are ineligible to participate in the Program. 
  

	5.	DETERMINATION OF BONUS AWARD OPPORTUNITIES: 

 The determination of bonus award opportunities for Participants will be generally accomplished as follows, subject to any changes or revisions to such determination protocol in the sole discretion of the Committee: (1) An Initial Bonus
Pool will be calculated by the Committee based on achievement or non-achievement of the Performance Criteria; (2) The amount of the Initial Bonus Pool will be reviewed by the Committee and may be reduced or eliminated or increased by
application of the Discretionary Adjustment Factor to arrive at a Final Bonus Pool Amount, if any, notwithstanding the fact that any considered goals and objectives may or may not have been achieved; and (3) If the Committee determines there
will be a Final Bonus Pool Amount for the program period under consideration, the Committee or its designee will then determine the bonus amounts, if any, individual Participants may be paid. 
 An individual Participant will therefore have the potential to be provided with a preliminary target bonus opportunity, which would then be subject to a
discretionary adjustment multiplier of between 0% and any such percentage amount as the Committee may determine is appropriate, which will be dependent upon various objective and subjective factors, including the extent to which any pertinent
performance goals for the individual Participant are deemed to have been achieved. 
 In determining the potential reduction or elimination
of the Initial Bonus Pool or Participant bonus amounts, the Committee may consider any factors, objective or subjective, it deems prudent, necessary or appropriate. For example, without exclusion or limitation, the Committee may consider any events
or changes in events (past, present or future), accounting practices or applicable law, general macro-economic or market factors, extraordinary gains or losses, discontinued operations, restructuring costs, sales or 

  

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dispositions of assets and acquisitions, individual work performance criteria, the Company’s OIBDA, free cash flow, cash flows, net income, pre-tax
income, net revenue, EBITDA, operating income, diluted earnings per share, earnings per share, gross margin, return on sales, return on equity, return on investment, cost reductions or savings, operational funding requirements, appreciation in
Company stock value, the Company’s liquidity position, stock value and business prospects, and any other performance results and productivity measures applicable to individual Participants. 
  

	6.	PAYMENT – FORM, TIMING AND DEFERRAL: 

 Payment of any bonus awards to Participants may be made in the form of cash, stock, and/or other form of award, or combinations thereof, in whole or in part, and with any such restrictions, limitations, and/or conditions as the Committee
may determine and impose. If permissible under applicable law and regulations, certain Participants may also be provided with an election to purchase Company stock utilizing a pre-determined portion of the amount, if any, of the Employee’s
final bonus award. To the extent that stock or stock options payment is utilized, the Committee reserves the right to determine the value and timing of the stock shares or stock options awarded and any related or required vesting requirements in any
manner it deems necessary or appropriate in its sole discretion. 
 The Committee also, at any time, either prior to, or at, the time of
granting any bonus awards, or by subsequent amendment thereto, may require, permit, or approve the deferral or installment payments over time of any bonus award payments or under the Program, in whole or in part, and under such rules and procedures
as the Committee may establish. The length of time of deferral or installments will be determined at the sole discretion of the Committee. 
  

	7.	2009 CORPORATE PERFORMANCE CRITERIA 

 (Subject to the Discretionary Adjustment Factor) 
 The Performance Criteria used to determine the level of the Initial
Bonus Award Pool, if any, which is always subject to the Discretionary Adjustment Factor, shall be as follows: 
  

										
	 Goal
	  	Weight	 	 	Target	  	Bonus Payout Range	 
	 Cash Flow
	  	50	% 	 	$	20M	  	0 -100	% 
	 OIBDA
	  	50	% 	 	$	405M	  	0 -100	% 

 Individual Goals: Based on performance against pre-established goals/objectives, managers
will have +/-10% (staying within total fund) to adjust total award 
 OIBDA is operating income before depreciation and amortization

  

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 Cash Flow is cash flows from operations, plus cash flows from investing activities, plus cash
flows from financing activities up to the amount of consolidated capital expenditures. 
 Notes: 
  

	 	(a)	OIBDA and Cash Flow targets assume accrual amounts for all incentive compensation, including bonuses, at budgeted levels. 

  

	 	(b)	OIBDA and Cash Flow targets exclude any impacts of any new M&A and financing activities not assumed in the original budget. 

  

	 	(c)	Calculation of performance against each goal will be made independently of the others. 

  

	 	(d)	The Committee may in its discretion calculate the performance results without regard to: charges or credits impacting 2009 results due to errors or changes in estimate in respect of
prior periods; the cumulative effect of changes in accounting principles; and/or any other items deemed by the Committee to be extraordinary, nonrecurring or unusual in nature, including the resolution of contingencies. 

  

	 	(e)	These goals do not constitute official forecasts and are not necessarily consistent with publicly disclosed financial guidance or other forecasts.

  

	 	(f)	Cash Flow is a different measure than “free cash flow” as used in the Company’s external financial reporting. 

  

	 	(g)	Any updates provided by the Company during the course of a program period regarding progress against performance targets should not be deemed to imply a particular bonus payment.
The extent to which performance targets are achieved may not ultimately be deemed relevant by the Committee in its bonus payment determination and may or may not be taken into account by the Committee.

  

	8.	CALCULATION OF INITIAL BONUS POOL: 

 (Subject to the Discretionary Adjustment Factor) 
 The following Calculation for Target Bonus Opportunity Percentages is merely illustrative
in nature, and may not reflect any other form or percentages or calculation that the Committee may instead or in addition choose to consider or apply. There is no obligation imposed on the Committee for uniformity of treatment of Participants under
the Program. 
 A. Target Bonus Opportunity Percentages: 
 The Initial Bonus Pool may be calculated based on an annual bonus target percent, expressed as a percent of base pay, for each eligible employee. The annual bonus target percents may vary by Band Level as follows: 
  

			
	 Band Level
	  	 Target

	 01
	  	10%
	 02
	  	10%
	 03
	  	15%
	 04
	  	20%
	 05
	  	30%
	 06
	  	35%
	 07 and
 Above
	  	 As individually
 determined by
 the Committee

  

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 The level or “band” for each job may be determined based on a combination of market data and internal equity
comparisons. The bands help ensure that we are appropriately positioning each job relative to how the job is paid in the marketplace. 
 B. Prorating
Target Bonus Calculations Based on Changes during the Performance/Calendar Year: 
 Annual bonus target amounts are calculated based on the annual bonus
target percentage and the employee’s eligible salary. Bonus target amounts are prorated in accordance with the Applicable Country-Specific Addendum to reflect changes in eligibility, salary, band level, status and number of months worked in the
plan year. Once prorated target bonus amounts are calculated, the actual bonus pool amount is determined based on the factors described above, including the Committee’s discretion. 
  

	9.	OTHER TERMS AND PROVISIONS: 

 No Contract: This
Program document, other supporting documents concerning the Program (including the Country-Specific Addenda), and the adoption, administration or maintenance of the Program are not a contract and shall not be deemed or construed to be a contract or
other form of legally binding agreement between the Company and any Employee, Participant or other person or group, nor should the Program otherwise be regarded as being consideration for the employment of any person. 
 Tax Withholdings: The Company will withhold from any amounts payable under the Program all federal, state, foreign, city and local taxes as shall be
legally required. 
 No Additional Participant Rights: No Employee or Participant shall have any claim or entitlement to be paid a bonus or any
form of award under the Program. The payment of a bonus or other form of award to an Employee or Participant (either individually or as a group) in a plan period shall not be construed as giving such Employee or Participant an entitlement to a bonus
or other form of award or such in any subsequent plan period or periods. Neither the status of being an Employee or a Participant, nor being any beneficiary of either, shall be construed as a Company commitment that any bonus amount or award will be
payable under the Program. 
 Employment at Will: The selection of an Employee for participation in the Program, and the payment of a bonus or
other award under the Program, will not be construed as giving such an Employee or Participant the right to be retained in the employ of the Company. The Company expressly reserves the right at any time to terminate the employment of any Employee or
Participant free from any liability under the Program. 
 Governing Law: Except to the extent superseded by the laws of the jurisdiction in
which the applicable employee is employed, the validity, construction, and effect of the Program and any matters or disputes relating to the Program, shall be determined in accordance with the laws of the State of New York, without regard to
principles of conflict of law. 
 Severability: In the event that any provision of the Program shall be held or found to be illegal or invalid
by any presiding Court or tribunal of proper jurisdiction, for any reason, 

  

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such illegal or invalid provisions shall not affect the remaining parts of the Program, and the Program shall be construed and enforced as if such provisions
had never been contained in the Plan. 
 Confidentiality: This Program Document and the Country-Specific Addenda, and the information contained
herein and therein, is for employee use only and should not be shared with any non-employee or other third party. 
  

 7Amended and Restated Global Crossing Limited Key Management

 Exhibit 10.2 
 Amended and Restated 
 Global Crossing Limited 
 Key Management Protection Plan 
 The
Amended and Restated Global Crossing Limited Key Management Protection Plan dated December 10, 2005 (the “Existing Plan”) is hereby amended and restated in its entirety as provided below. 
 This Amended and Restated Key Management Protection Plan is intended to assist Global Crossing Limited or its successor (“Company”) to retain
key executives by mitigating their concerns about financial hardship in the event of their involuntary termination without regard to their performance. 
 1. Term of Plan. The Existing Plan shall remain in effect until the Amendment Date at which time it shall be amended and restated as provided herein. 
 2. Eligible Executives. This Plan shall apply to the key executives set forth on Schedule 1 and any additional executives designated in writing by
the Board of Directors of the Company. In the event an executive is covered by or eligible for coverage under an individual employment or severance contract or other severance plan or policy, the severance benefits under this Plan shall be offset by
or otherwise reduced so as to eliminate any duplication of severance benefits. As a further clarification and not by way of limitation, executives who are covered by an employment contract or employed at an international business unit shall
participate in this Plan only insofar as the benefits received under an employment contract or a non-U.S. severance program are in the aggregate less than the benefits provided for under this Plan. In such case, benefits received shall be limited to
the greater of benefits under this Plan or those received under the applicable employment contract or non-U.S. severance program. 
 3.
Definitions. For purposes of this Plan, the following definitions shall apply: 
 “Amendment Date” shall mean
July 30, 2009. 
 “Base Salary” shall mean the higher of a participant’s annual base salary on either the
Amendment Date or the Termination Date. 
 “Bonus” shall mean, with respect to any participant, such
participant’s target annual bonus for any plan period as specified on Schedule 3 hereto (or, if applicable, any increase to such percentage that may be approved by the Company’s Board of Directors from time to time). 
 “Cause” (a) shall have the meaning ascribed to such term under an eligible executive’s employment agreement with the
Company, or (b) if there is no such agreement, shall mean the termination of such participant’s employment due to: 
 (i) gross neglect (other than any such failure resulting from incapacity due to physical or mental illness) of the participant’s duties with the Employer which are reasonable and commensurate with the participant’s position and
such neglect continues more than 30 days after a written notice of non-performance is provided to or a written demand for substantial performance is made upon the participant by the Board of Directors; 

 (ii) the willful engaging by a participant in any misconduct which is demonstrably
injurious to the Company or any Employer or results in a suspension or other sanction by any governmental or other regulatory entity; 
 (iii) a material violation by the participant of any written policies of the Company or any Employer with regards to performance, conduct on the job or integrity (as such policies are in effect on the Amendment Date),
which violation is reasonably determined to justify a termination of employment for Cause; or 
 (iv) the conviction of a
felony or plea of no contest to a felony. 
 No action taken or omission by an executive under a reasonable, good faith belief that such
action or omission was in the best interests of the Company and did not result in any material pecuniary benefit to the executive shall constitute willful misconduct for purposes of the definition of Cause. 
 Notwithstanding anything herein to the contrary, for eligible executives for whom the definition of Cause is set forth in an employment agreement, no
termination for Cause under the Plan will be effective unless it also satisfies the applicable Cause termination procedural protections under such executive’s employment agreement (i.e., notice requirements and due process rights).

 “COBRA” shall mean the Part 6 of Title I of ERISA. 
 “Disability” shall mean the participant’s absence from the full-time performance of the participant’s duties (as they
existed immediately prior to such absence) for a period of time longer than one hundred eighty (180) days within a three hundred sixty-five (365)-day rolling calendar, when the participant is disabled as a result of incapacity due to physical
or mental illness or serious injury. 
 “Employer” shall mean the Company, or any parent, subsidiary, or affiliate of
the Company (as defined pursuant to sections 414(b) or 414(c) of the Internal Revenue Code, as amended) or successor thereto, for which a participant performs services or is employed thereby, as applicable to each participant. 
  

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 “Good Reason” (a) shall have the meaning ascribed to such term under an
eligible executive’s employment agreement with the Company, or (b) if there is no such agreement, shall mean the occurrence of any of the following events or conditions which is not done with the participant’s written consent and is
not cured within thirty (30) days after the Company receives written notice from the participant setting forth in reasonable detail the basis for the participant’s claim of Good Reason: 
 (i) any material reduction in the participant’s Base Salary, other than any reduction made pursuant to and consistent with a
broad-based reduction applicable to all similarly situated executives; or 
 (ii) any material diminution in the
participant’s duties or responsibilities, as modified with the participant’s consent. 
 Notwithstanding the foregoing, Good Reason
shall not occur unless the participant provides the written notice described above within 90 days of the initial existence of the Good Reason event or condition, and the participant terminates employment within one year of the initial existence of
the Good Reason event or condition. 
 “Retirement” shall mean a termination of employment by the participant
pursuant to late, normal or early retirement under a pension plan sponsored by the Company, as defined in such plan. 
 “Severance
Period” shall mean the number of months a participant is entitled to receive severance payments pursuant to Schedule 2 of this Plan. 
 “Termination Date” shall mean with respect to any participant the earliest to occur of the date of the participant’s death or the date the participant separates from service within the meaning of
Section 409A of the Internal Revenue Code. 
 4. Benefits Upon Termination. Subject to the limitations set forth in succeeding
paragraphs, a participant whose employment with the Company and all Employers terminates for any reason (excluding any termination for Cause or by reason of the participant’s death or Disability, or the participant’s resignation other than
for Good Reason) shall be entitled to the following benefits: 
 (a) Severance. The participant shall receive a cash severance
payment, payable in a lump sum, in an amount equal to the “applicable earnings” multiplied by the “severance multiplier,” each as set forth in Schedule 2 attached hereto. The lump sum severance payment shall be paid as soon as
administratively practicable following the termination of employment, and in no event shall be paid later than 60 days following termination of employment. 
 (b) Additional Payments. In addition to the severance payment in (a) above, a participant shall receive payments, which shall be paid in accordance with the normal payroll practices of the Company not
later than 60 days following termination of employment, equal to the following: 
 (i) any accrued but unpaid Base Salary
through the Termination Date, and any unpaid bonus attributable to the year prior to the Termination Date under the annual incentive plan which had not been paid as of the Termination Date; 
  

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 (ii) a pro rata portion, if any, of the annual bonus at the target level that
would be payable pursuant to the annual incentive plan in which the participant participates (calculated through the Termination Date); and 
 (iii) an amount, if any, equal to any accrued paid time off in full satisfaction of the participant’s rights thereto. 
 (c) Welfare Benefits. The Company and the participant shall continue to make such contributions as were required to be paid by the Company and the participant immediately prior to the Termination Date for, and
the participant and the participant’s eligible dependents shall continue to receive medical, dental, vision and life insurance coverage on the same basis as in effect prior to the Amendment Date or the participant’s Termination Date,
whichever is deemed to provide for more substantial benefits, for a period equal to the number of months constituting the Severance Period; provided that if continued insurance coverage is not possible or would, in the Company’s reasonable
judgment, have adverse consequences due to the provisions of the underlying insurance policies or applicable law, then, in lieu of providing any such continued coverage, the Company may pay to the participant, on a basis no less frequent than
monthly, an amount of cash equal to the contributions the Company would have been required to make on the participant’s behalf had the participant remained an employee of the Employer during the Severance Period. After the Severance Period, the
participant and/or his eligible dependents may continue to be covered under the plans of the Employer providing such benefits at the participant’s expense at the applicable COBRA rate for the applicable COBRA period; provided,
however, in the event that the participant commences comparable benefit coverage with a subsequent employer during the Severance Period, such Employer benefit coverage shall cease. If a participant is not eligible to receive
medical, dental, vision or life insurance coverage through his or her Employer immediately preceding the Termination Date, this paragraph shall not be construed as giving the participant any right to receive these benefits. 
 (d) Outplacement. The Company shall offer the participant outplacement services at an outplacement provider selected by the
Company. The cost of such services shall not exceed 30% of the participant’s Base Salary. The Company-paid outplacement services will not continue beyond the end of the Severance Period. Generally, the Company will pay the outplacement provider
directly for Company-approved outplacement services, but in no event will the Company reimburse a participant for Company-approved outplacement services after the 90th day following the end of the Severance Period. 
  

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 (e) Withholding. Payments and benefits provided pursuant to this Section 4 shall be subject
to any applicable payroll and other taxes required to be withheld. 
 (f) No Mitigation. The participant shall not be required to
mitigate the amount of any payment provided for in this Plan by seeking other employment or otherwise, and no such payment shall be offset or reduced by the amount of any compensation or benefits provided to the participant in any subsequent
employment, other than as set forth in Section 4(c). 
 (g) Offset for Other Severance. In the event that the participant is
eligible for severance under any other plan or agreement of the Company or any Employer, then any cash severance amounts payable pursuant to this Plan shall be reduced by the amount of any cash severance payments payable under such other plan or
agreement. Additionally, any award or settlement received in any successful claim against the Company shall be offset by severance payments received under this Plan. 
 (h) Requirement for Release. By accepting any payment or benefit provided under this Plan, each participant shall be deemed to have released and discharged Employer, its subsidiaries, affiliates and
shareholders and their successors and assigns, as well as all officers, directors, agents and employees of all of the foregoing (collectively, “Releasees”), from any and all claims and liabilities of any kind or nature whatsoever, which
such participant or such participant’s agents, executors, heirs, or assigns may have at the time of and after giving effect to such participant’s termination of employment, whether known or unknown. This release includes, but is not
limited to, the following: any action or cause of action asserted or which could have been asserted under the Age Discrimination in Employment Act of 1967, as amended, Title VII of the Civil Rights Act of 1964, all state statutes related to
discrimination, the Employee Retirement Income Security Act or the Americans With Disabilities Act; claims for wrongful discharge, unjust dismissal, or constructive discharge; claims for breach of any alleged oral, written or implied contract of
employment; claims for salary or severance payments not provided by this Plan; claims for benefits (other than a claim that Employer or Employer’s pension or other retirement plan has failed to pay the benefits indicated in any benefit
projection or benefit statement given to such participant nearest in time to the effective date of his or her termination, provided that the participant shall not be entitled to receive a benefit not otherwise provided by such pension or other
retirement plan); claims for attorney’s fees; and any other claims under any federal, state or local statute, law, rule or regulation related to employment or benefit matters. Without limiting the effectiveness of the foregoing, each
participant’s right to receive any payment or benefit under this Plan is conditioned on such participant executing any instrument reasonably requested by Employer to carry out the intent and purpose of this Section 4(h). 
  

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 5. Limitations on Benefits. 
 (a) No benefits shall be paid to a participant who voluntarily terminates employment without Good Reason or whose employment terminates because of
his or her death or Disability. 
 (b) No benefits shall be paid to a participant whose employment is terminated for Cause.

 (c) A participant will not receive benefits under this Plan in the event that the business unit for which the participant provides
services is sold, spun-off, merged or otherwise disposed to a third party, if the participant is offered employment by the successor entity in a similar position; provided, however, nothing in this subparagraph shall be deemed to limit the
participant’s ability to invoke Good Reason with respect to the employment opportunity offered through the successor entity. 
 (d)
No benefits shall be paid to a participant whose employment terminates by reason of Retirement. 
 6. Amendment and Termination.
This Plan may be amended or terminated by the Company in its sole discretion; provided, however, that no amendment to or termination of this Plan during the period commencing on the Amendment Date and ending on December 31, 2011 shall apply to
any then current participant during such period without such participant’s prior written consent. 
 7. Non-exclusivity of
Rights. Nothing in this Plan shall prevent or limit the participant’s continuing or future participation in any benefit, bonus, incentive or other plan or program provided by the Company, its parent, subsidiaries, affiliates and successors
thereto, and for which the participant may qualify, nor shall anything herein limit or reduce such rights as the Participant may have under any agreements with the Company or any of the foregoing related entities (although any such severance
benefits reduce the severance payable under this Plan). Amounts which are vested benefits or which the participant is otherwise entitled to receive under any plan or program of the Company or any of the foregoing related entities shall be payable in
accordance with such plan or program, except as explicitly modified by this Plan. 
 8. Governing Law. This Plan shall be governed by
and construed and enforced in accordance with the laws of the State of New York without giving effect to the conflict of law principles thereof. Any controversy or claim arising out of or relating to this Plan shall be settled in accordance with the
Rules of the American Arbitration Association, and judgment upon the award may be entered in any court having jurisdiction thereof. 
 9.
Successors and Assigns. This Plan shall be binding upon and shall inure to the benefit of the Company, its successors and assigns, and the Company shall require any successor or assign to expressly assume and agree to maintain this Plan and

  

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to perform under this Plan to the same extent that the Company would be required to perform under the Plan if no such succession or assignment had taken
place; provided that this Plan shall be binding upon any such successor or assign regardless of any such express assumption. The term “Company” as used herein shall include such successors and assigns. The terms
“successors and assigns” as used herein shall mean a corporation or other entity acquiring all of the stock or all or substantially all the assets and business of the Company whether by operation of law or otherwise.

 10. Severability. The provisions of this Plan shall be deemed severable, and the invalidity or unenforceability of any provision
hereof shall not affect the validity or enforceability of the other provisions hereof. 
 11. Claims for Benefits. All claims for
benefits under this Plan must be submitted to the Employee Benefits Committee of the Company within 60 days following termination of employment. In the event a claim for benefits is denied, the Employee Benefits Committee will provide the executive
with a written notice stating the specific reason or reasons for denial, including specific provisions of the Plan relied upon. The notice will also explain what is necessary to perfect the claim, if possible, and inform the executive that the
denial may be appealed. Such denial may be appealed by written request to the Employee Benefits Committee within a reasonable time. Within 60 days of receiving a request for review of a denied claim, the Employee Benefits Committee shall provide a
written decision to the executive. 
 12. Plan Administration. The Plan is administered by the Employee Benefits Committee of the
Company, which shall have the sole discretion to determine eligibility for benefits and to interpret the Plan and shall possess all powers necessary to administer the Plan. The Employee Benefits Committee may designate in writing one or more of the
Employer’s executives or one or more other persons to carry out its duties under this Plan. The Employee Benefits Committee is the Named Fiduciary and Plan Administrator as these terms are used in the Employee Retirement Income Security Act of
1974 (“ERISA”). 
 13. Miscellaneous Information. 
  

			
	Plan Sponsor:	  	 Global Crossing Limited
 200 Park Avenue, Suite
300
 Florham Park, NJ 07932

		
	 Sponsor’s Employer
 Identification
Number:
	  	98-0189783
		
	 Plan Administrator and
 Agent for Service of Legal
 Process:
	  	 Employee Benefits Committee
 Global Crossing
Limited
 200 Park Avenue, Suite 300
 Florham Park, NJ
07932
 (973) 937-0349

		
	Plan Number:	  	503

  

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 14. Statement of Participant Rights. As a participant in the Plan, you are entitled to certain
rights and protections under ERISA. These rights and protections have been summarized in government regulations, which require that we inform you of them in the following statement: 
 Receive Information About Your Plan and Benefits 
 ERISA provides that all Plan participants shall be entitled to: 
 Examine, without charge, at the plan
administrator’s office and at other specified locations, such as worksites, all Plan documents, including insurance contracts, and a copy of the latest annual report (Form 5500 Series) filed by the Plan with the U.S. Department of Labor and
available at the Public Disclosure Room of the Pension and Welfare Benefit Administration. 
 Obtain, upon written request to the plan
administrator, copies of documents governing the operation of the Plan, including insurance contracts, and copies of the latest annual report (Form 5500), if any. The plan administrator may make a reasonable charge for the copies. 
 Receive a summary of the Plan’s annual financial report. The plan administrator is required by law to furnish each participant with a copy of this
summary annual report. 
 Prudent Actions by Plan Fiduciaries 
 In addition to creating rights for Plan participants, ERISA imposes duties upon the people who are responsible for the operation of
the executive benefit plan. The people who operate your Plan, called “fiduciaries” of the Plan, have a duty to do so prudently and in the interest of you and other Plan participants and beneficiaries. No one, including your
Employer, or any other person, may fire you or otherwise discriminate against you in any way to prevent you from obtaining a welfare benefit or exercising your rights under ERISA. 
 Enforce Your Rights 
 If your
claim for a welfare benefit is denied in whole or in part, you have a right to know why this was done, to obtain copies of documents relating to the decision without charge, and to appeal any denial, all within certain time schedules. 
 Under ERISA, there are steps you can take to enforce the above rights. For instance, if you request a copy of Plan documents or the latest annual report
from the 

  

 8 

 
Plan and do not receive them within thirty (30) days, you may file suit in a federal court. In such a case, the court may require the Plan administrator
to provide the materials and pay you up to $110 a day until you receive the materials, unless the materials were not sent because of reasons beyond the control of the administrator. If you have a claim for benefits which is denied or ignored, in
whole or in part, you may file suit in a state or federal court. If you are discriminated against for asserting your rights, you may seek assistance from the U.S. Department of Labor or you may file suit in a federal court. The court will decide who
should pay court costs and legal fees. If you are successful, the court may order the person you have sued to pay these costs and fees. If you lose, the court may order you to pay these costs and fees, for example, if it finds your claim is
frivolous. 
 Assistance with Your Questions 
 If you have any questions about this Plan, you should contact the plan administrator. If you have any questions under this statement or about your rights under ERISA, or if you need assistance in obtaining documents
from the plan administrator, you should contact the nearest office of the Pension and Welfare Benefits Administration, listed in your telephone directory or the Division of Technical Assistance and Inquiries, Pension and Welfare Benefits
Administration, U.S. Department of Labor, 200 Constitution Avenue N.W., Washington, D.C. 20210. You may also obtain certain publications about your rights and responsibilities under ERISA by calling the publications hotline of the Pension and
Welfare Benefits Administration. 
 This Amended and Restated Global Grossing Limited Key Management Protection Plan is hereby executed in
Florham Park, New Jersey this thirtieth day of July, 2009. 
  

			
	GLOBAL CROSSING LIMITED
	
	
		 	/s/ Laurinda Y. Pang
	By:	 	Laurinda Y. Pang
		 	Senior Vice President of Human Resources

  

 9 

 Global Crossing Limited 
 Key Management Protection Plan 
 Schedule 1: Eligible Executives 

 Listed below, by participation level, are the executives eligible to participate in the Plan. 
  

			
	 Participation Level
	  	 Executive

	 Tier I
	  	
		
	 Tier II
	  	

 Global Crossing Limited 
 Key Management Protection Plan  
 Schedule 2: Severance Formula

 A participant’s benefit under Section 4(a) of the Plan shall be determined by determining the participant’s “applicable
earnings” multiplied by the severance multiplier in accordance with the following. 
  

							
	 Participation Level
	  	 Applicable Earnings
	  	 Severance Multiplier
	  	 Severance Period

	 Tier I
	  	Base Salary and Bonus	  	2	  	24 Months
				
	 Tier II
	  	Base Salary and Bonus	  	1	  	12 Months

 Global Crossing Limited 
 Key Management Protection Plan 
 Schedule 3: Target Annual Bonus as
Percentage of Base Salary 
  

							
	 Level
	  	 	  	 	  	 Target Bonus %

	 10
	  		  		  	65%
	 9
	  		  		  	55%
	 8
	  		  		  	45%
	 7
	  		  		  	40%

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