{"id":40056,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/letter-agreement-re-promissory-note-worldcom-inc-and-bernard.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"letter-agreement-re-promissory-note-worldcom-inc-and-bernard","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/letter-agreement-re-promissory-note-worldcom-inc-and-bernard.html","title":{"rendered":"Letter Agreement re: Promissory Note &#8211; WorldCom Inc. and Bernard J. Ebbers"},"content":{"rendered":"<pre>                                                           April 29, 2002\n\n\nBernard J. Ebbers\n500 Clinton Center Drive\nClinton, MS  39056\nDear Bernie:\n\n                  Reference is made to our letter agreement dated April 2, 2002\n(the \"Letter Agreement\"). Unless otherwise defined, terms defined in the Letter\nAgreement and used herein shall have the meanings given to them therein.\n\n                  The Company and you (the \"Parties\") agree that the promissory\nnote dated April 29, 2002 made by you and payable to the order of the Company\n(the \"New Promissory Note\") hereby replaces each of the Promissory Notes\nreferred to in the Letter Agreement. The New Promissory Note is hereby deemed to\nbe the Promissory Note referred to in the Letter Agreement.\n\n                  The Parties further agree that an event of default under the\nNew Promissory Note constitutes a breach of the Promissory Note for purposes of\nthe Letter Agreement.\n\n                  This letter agreement shall be interpreted and the rights and\nliabilities of the Parties hereto shall be determined in accordance with the\ninternal laws (as opposed to the conflicts of law provisions) and decisions of\nthe State of Mississippi and you hereby consent to the jurisdiction of the\ncourts of or in the State of Mississippi in connection with any dispute,\ncontroversy, action or other matter relating to or arising out of this letter\nagreement. The provisions of the second, third, fourth, fifth, sixth and seventh\nsentences of Section 6 of the Letter Agreement shall apply to this letter\nagreement as though it were the \"Agreement\" as referenced therein.\n\n                                       WorldCom, Inc.\n\n                                       By: \/s\/ John W. Sidgmore\n                                           -------------------------------------\n                                           John W. Sidgmore\n                                           President and Chief Executive Officer\n\nAcknowledged and agreed as of the date first above written.\n\n                                       \/s\/ Bernard J. Ebbers\n                                       -----------------------------------------\n                                       Bernard J. Ebbers\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[9361],"corporate_contracts_industries":[9519],"corporate_contracts_types":[9539,9544],"class_list":["post-40056","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-worldcom-inc","corporate_contracts_industries-telecommunications__telephone","corporate_contracts_types-compensation","corporate_contracts_types-compensation__employment"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/40056","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=40056"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=40056"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=40056"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=40056"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}