SETTLEMENT AGREEMENTSettlement Agreement • May 5th, 2010 • Lightyear Network Solutions, Inc. • Blank checks • Kentucky
THIS SETTLEMENT AGREEMENT (“Agreement”) is made and entered into as of the 29th day of April, 2010, by and among (i) LY HOLDINGS, LLC, a Kentucky limited liability company (“LYH”), (ii) LIGHTYEAR NETWORK SOLUTIONS, LLC, a Kentucky limited liability company (“LNS”), (iii) CHRIS SULLIVAN, an individual resident of Nevada (“Sullivan”), (iv) LANJK, LLC, a Kentucky limited liability company (“LANJK”), (v) RICE REALTY COMPANY, LLC, a Kentucky limited liability company (“RRC”), (vi) RIGDON O. DEES, III, an individual resident of California (“Dees”), (vii) CTS EQUITIES LIMITED PARTNERSHIP, a Nevada limited partnership (“CTS”), and (viii) RON CARMICLE, an individual resident of Kentucky (“Carmicle,” collectively with LANJK, RRC, Dees, and CTS, the (“Letter Agreement Holders”).
FIFTH AMENDED AND RESTATED COMMERCIAL NOTECommercial Note • May 5th, 2010 • Lightyear Network Solutions, Inc. • Blank checks • Kentucky
FOR VALUE RECEIVED, the undersigned, LY Holdings, LLC, a Kentucky limited liability company, with a principal place of business at 1901 Eastpoint Parkway, Louisville, Kentucky 40223 (“Borrower”), promises to pay to the order of Chris T. Sullivan, whose address is 3111 S. Valley View, Suite B-101, Las Vegas, Nevada 89102 (“Lender”), the principal sum of Eight Million Dollars ($8,000,000.00) (the “Total Facility”), or the aggregate unpaid balance of all advances made by Lender from time to time hereunder, together with interest thereon, on or before the “Maturity Date” as that term is defined below. Principal of this Note and all accrued interest thereon shall be due and payable as set forth below.
EXECUTIVE EMPLOYMENT AGREEMENTExecutive Employment Agreement • May 5th, 2010 • Lightyear Network Solutions, Inc. • Blank checks • Kentucky
This EXECUTIVE EMPLOYMENT AGREEMENT (this “Agreement”) is made as of April 29, 2010 by and between Lightyear Network Solutions, Inc., a Nevada corporation (the “ Company ”), and Randy Ammon
