EMPLOYMENT AGREEMENTEmployment Agreement • May 15th, 2002 • Nuvox Inc /De/ • Telephone communications (no radiotelephone) • Missouri
This Employment Agreement (“Agreement”) is made and entered into on the 11th day of April, 2002, by and between NuVox, Inc. and Gabriel Communications Properties, Inc., Delaware corporations (the “Company”), and John P. Denneen (“Executive”).
EMPLOYMENT AGREEMENTEmployment Agreement • May 15th, 2002 • Nuvox Inc /De/ • Telephone communications (no radiotelephone) • Missouri
Subject to the foregoing, the forgiveness of any such one-third installment shall be effective as of the occurrence of (i) the automatic conversion of the Series E Preferred Stock of the Company pursuant to Section C.1 (iv) (b) of Article Fourth of the Amended and Restated Certificate of Incorporation of the Company (“Article Fourth”), (ii) an event treated as a liquidation, dissolution or winding up of the Company pursuant to Section C.1 (iii) of Article Fourth or (iii) the due date of the Note, whichever is earliest. In the event that each of the foregoing bonus targets has been achieved and such forgiveness has become effective as aforesaid, the Company shall cancel the Note, record such cancellation on the books and records of the Company and deliver the original Note, marked canceled, to Executive, provided however, that the Company’s failure to perform any of the foregoing acts shall not in any way affect the automatic cancellation of the debts and obligations of Executive under
