FairPoint Communications 2003 Annual Report Download - page 92
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rights of indemnification to which such persons may be entitled under the Company's Articles of Incorporation or By-laws, by contract, as a
matter of law, or otherwise.
(g) . Subject to the approval of the shareholders of the Company, the Plan shall be effective on April 1, 2000. No
Incentive Awards may be granted under the Plan after April 1, 2010.
(h) . Nothing in the Plan shall be construed to limit the right of the Company or Subsidiaries to
establish other plans or to pay compensation to the Employees, in cash or property, in a manner which is not expressly authorized under the
Plan.
9
(i) . The Committee may postpone the exercising of Options, the issuance or delivery of Common Stock under any Option
or Restricted Stock Unit or any action permitted under the Plan in order to prevent the Company or any Subsidiary being denied a Federal
income tax deduction with respect to any Option other than an Incentive Stock Option.
(j) . The Plan shall be construed in accordance with, and governed by, the laws of the State of New York, without
reference to principles of conflict of laws which would require application of the law of another jurisdiction, except to the extent that the
corporate law of the State of Delaware specifically and mandatorily applies.
(k) . Except as may otherwise be specifically stated under any employee benefit plan, policy or program, no
amount payable in respect of any Option shall be treated as compensation for purposes of calculating an Employee's right under any such
plan, policy or program.
(l) . Nothing in this Plan shall be construed ( to limit, impair or otherwise affect the Company's
right or power to make adjustments, reclassifications, reorganizations or changes of its capital or business structure, or to merge or
consolidate, or dissolve, liquidate, sell, or transfer all or any part of its business or assets or () except as provided in Section 8, to limit the
right or power of the Company or any Subsidiary to take any action which such entity deems to be necessary or appropriate.
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QuickLinks
Exhibit 10.27
FAIRPOINT COMMUNICATIONS, INC. Amended and Restated 2000 Employee Stock Incentive Plan