EXHIBIT 10 ggg
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Termination Agreement
This Agreement made as of this 13th day of December, 2002, between Xxxxx
Telecom Inc., a Delaware corporation (the "Corporation"), and
___________________ (the "Employee").
WHEREAS, the Corporation and the Employee are party to a Split Dollar
Insurance Agreement dated as of September 1, 1991 (the "Split Dollar
Agreement");
WHEREAS, the Corporation and the Employee have determined to terminate
the Split Dollar Agreement; and
WHEREAS, the Corporation has agreed to provide the Employee with life
insurance equal to five (5) times his annual salary.
NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereby agree as
follows:
1. The Split Dollar Agreement is hereby terminated; and
2. The Corporation will provide the Employee with a life insurance
benefit equal to five (5) times his annual salary either through the
group life benefit of the Corporation or through a Corporation
sponsored obligation and the beneficiary of the life insurance will
be the beneficiary stated in the Split Dollar Agreement unless and
until a different beneficiary is designated in writing by the
Employee.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the date first above written.
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Employee
XXXXX TELECOM INC.
By: __________________________
