0000950168-99-001045 Sample Contracts

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ARTICLE I INDEMNIFICATION
Indemnification Agreement • March 31st, 1999 • Vanguard Cellular Systems Inc • Radiotelephone communications • North Carolina
PROMISSORY NOTE (ISO Exercise Price Loans or Tax Loans -- Founders' Version)
Promissory Note • March 31st, 1999 • Vanguard Cellular Systems Inc • Radiotelephone communications

FOR VALUE RECEIVED, the undersigned ___________________, an individual residing at _________________________ (the "Maker"), hereby promises to pay to Vanguard Cellular Systems, Inc., a North Carolina corporation, or its successors and assigns (the "Holder"), the principal sum of ________________________ DOLLARS ($__________) on or prior to: (i) if the proposed merger of the Holder into Winston, Inc. (the "Merger") pursuant to that certain Agreement and Plan of Merger dated as of October 2, 1998, as amended (the "Merger Agreement"), among AT&T Corp., Winston, Inc. and the Holder shall have been consummated, the 91st day following the Effective Time (as defined in the Merger Agreement), or (ii) if the Merger shall not have been consummated, the fifth anniversary of the date hereof (or if such fifth anniversary is not a business day, the next succeeding business day). Interest shall be payable on each anniversary of the date hereof (or if such anniversary is not a business day, the next s

PROMISSORY NOTE (Nonqualified Option Exercise Price Loans -- Executive Vice Presidents' Version) FOR VALUE RECEIVED, the undersigned ___________________, an individual residing at ________________________________ (the "Maker"), hereby promises to pay...
Promissory Note • March 31st, 1999 • Vanguard Cellular Systems Inc • Radiotelephone communications

FOR VALUE RECEIVED, the undersigned ___________________, an individual residing at ________________________________ (the "Maker"), hereby promises to pay to Vanguard Cellular Systems, Inc., a North Carolina corporation, or its successors and assigns (the "Holder"), the principal sum of ________________________ DOLLARS ($__________) on or prior to: (i) if the proposed merger of the Holder into Winston, Inc. (the "Merger") pursuant to that certain Agreement and Plan of Merger dated as of October 2, 1998, as amended (the "Merger Agreement"), among AT&T Corp., Winston, Inc. and the Holder shall have been consummated, the earlier of (x) 6 months and 1 day following the Effective Time (as defined in the Merger Agreement) or (y) October 3, 1999, or (ii) if the Merger shall not have been consummated, the fifth anniversary of the date hereof (or if such fifth anniversary is not a business day, the next succeeding business day). Interest shall be payable on each anniversary of the date hereof (o

Vanguard Cellular Systems, Inc. 2002 Pisgah Church Road Suite 300 Greensboro, NC 27455
Vanguard Executive Option Loans • March 31st, 1999 • Vanguard Cellular Systems Inc • Radiotelephone communications
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