As filed with the United States Securities and Exchange Commission on November 19, 1999. Registration No. 333-_______ =============================================================================== SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________ FORM S-8 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 __________________ CENTURYTEL, INC. (Exact name of registrant as specified in its charter) __________________ LOUISIANA 72-0651161 (State or other (I.R.S. Employer jurisdiction of incorporation Identification No.) or organization) 100 Century Park Drive Monroe, Louisiana 71203 (318) 388-9500 (Address, including zip code, and telephone number including area code, of registrant's principal executive offices) __________________ CENTURYTEL, INC. SUPPLEMENTAL DOLLARS & SENSE PLAN (Full title of the Plan) __________________ Harvey P. Perry, Esq. COPY TO Senior Vice President, General Counsel Margaret F. Murphy and Secretary Jones, Walker, Waechter, Poitevent CenturyTel, Inc. Carrere & Denegre, L.L.P. 100 Century Park Drive 51st. Floor Monroe, Louisiana 71203 201 St. Charles Avenue (318) 388-9500 New Orleans, Louisiana 70170 (Name, address, including zip code, and telephone number, including area code, of agent for service) CALCULATION OF REGISTRATION FEE - ------------------------------------------------------------------------------------------------------------------- | Amount | Proposed Maximum | Proposed Maximum | Amount of Title of Each Class of | to be | Offering Price | Aggregate Offering | Registration Securities to be Registered | Registered | Per Unit | Price | Fee - ------------------------------------------------------------------------------------------------------------------- Deferred Compensation | $2,500,000 | 100% | $2,500,000 (2) | $695.00 Obligations(1) | | | | - ------------------------------------------------------------------------------------------------------------------- (1) The Deferred Compensation Obligations are unsecured obligations of CenturyTel, Inc. to pay deferred compensation in the future in accordance with the terms of the CenturyTel, Inc. Supplemental Dollars & Sense Plan. (2) Estimated solely for the purpose of determining the registration fee. =============================================================================== PART II INFORMATION NOT REQUIRED IN PROSPECTUS ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE. The following documents, which have been filed by CenturyTel with the Securities and Exchange Commission (the "Commission"), are incorporated herein by reference: (a) CenturyTel's Annual Report on Form 10-K for the fiscal year ended December 31, 1998. (b) CenturyTel's Quarterly Reports on Form 10-Q for the quarters ended March 31, June 30 and September 30, 1999. (c) CenturyTel's Current Reports on Form 8-K filed February 26, 1999, February 26, 1999, April 30, 1999, May 28, 1999, July 9, 1999, July 9, 1999, July 29, 1999, August 25, 1999 and November 2, 1999. All documents filed by CenturyTel with the Commission pursuant to Sections 13, 14 or 15(d) of the Exchange Act subsequent to the date of this Registration Statement and prior to the filing of a post-effective amendment which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold shall be deemed to be incorporated by reference in this Registration Statement and to be made a part hereof from the date of filing of such documents. Information incorporated herein by reference is not necessarily complete and is qualified in its entirety by the information and financial statements appearing in all of the documents incorporated herein by reference and should be read together therewith. Any statement contained in a document incorporated or deemed to be incorporated by reference shall be deemed to be modified or superseded to the extent that any other document subsequently filed or incorporated by reference herein modifies or supersedes such statement. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement. ITEM 4. DESCRIPTION OF SECURITIES. The following description of the securities offered hereby is qualified by reference to the Registrant's Supplemental Dollars & Sense Plan (the "Plan"), filed as an exhibit to this Registration Statement. Under the Plan, the Registrant will provide eligible employees with the opportunity to defer a specified percentage of their future cash compensation. The obligations of the Registrant under the Plan, as described below (collectively, the "Obligations"), will be unsecured general obligations of the Registrant to pay the deferred compensation in the future in accordance with the terms of the Plan, and will rank equally with other unsecured and unsubordinated indebtedness of the Registrant from time to time outstanding and payable from the general assets of the Registrant. The amount of salary and bonus to be deferred by each participating employee (a "Participant") and the related matching contribution of the Participant's employer will be determined in accordance with the Plan based on elections by each Participant. This Registration Statement relates to $2,500,000 in deferred compensation. Each Obligation will be treated as invested in one or more investment funds chosen by each Participant from a list of investment funds designated by the Company. The Obligations will be adjusted to reflect the investment experience, whether positive or negative, of the selected investment fund(s), including any appreciation or depreciation. The Obligations will be payable to participants upon termination of employment. The Plan is not required to be funded and the amount of compensation deferred by each Participant is subject to all the risks of the Registrant's business and may be deposited, invested or expended in any manner whatsoever by the Registrant. The Registrant has chosen to establish a "rabbi trust" (the "Trust") for the purpose of funding the Obligations and Merrill Lynch Trust Company, FSB serves as trustee. Participants and their beneficiaries, however, have no secured interest or special claim to the assets of the trust, which are subject to the payment of claims of creditors of the Company upon the insolvency or bankruptcy of the Company. The Obligations are not subject to redemption, in whole or in part, prior to payment following termination of employment of Participants, although the Obligations could be redeemed in case of termination of the Plan. The Registrant reserves the right to amend or terminate the Plan at any time, except that no such amendment or termination shall impair the rights of a Participant previously accrued. The Obligations are not convertible into another security of the Registrant. The Obligations will not have the benefit of any affirmative or negative covenant on the part of the Registrant. The trustee of the Trust does not have the authority to take action with respect to the Obligations and each Participant will be responsible for acting independently with respect to, among other things, the making of elections and the giving of notices. ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL. Not applicable. ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS. Section 83 of the Louisiana Business Corporation Law provides in part that a corporation may indemnify any director, officer, employee or agent of the corporation against expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by him in connection with any action, suit or proceeding to which he is or was a party or is threatened to be made a party (including any action by or in the right of the corporation) if such action arises out of his acts on behalf of the corporation and he acted in good faith not opposed to the best interests of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful. CenturyTel has the power to obtain and maintain insurance, or to create a form of self-insurance, on behalf of any person who is or was acting for CenturyTel, regardless of whether CenturyTel has the legal authority to indemnify the insured person against such liability. Article II, Section 10 of CenturyTel's by-laws (the "Indemnification By- law") provides for mandatory indemnification for directors and officers or former directors and officers of CenturyTel to the fullest extent permitted by Louisiana law. CenturyTel's Articles of Incorporation authorize it to enter into contracts with directors and officers providing for indemnification to the fullest extent permitted by law. CenturyTel has entered into indemnification contracts providing contracting directors or officers the procedural and substantive rights to indemnification currently set forth in the Indemnification By-law ("Indemnification Contracts"). The right to indemnification provided by an Indemnification Contract applies to all covered claims, whether such claims arose before or after the effective date of the contract. CenturyTel maintains an insurance policy covering the liability of its directors and officers for actions taken in their official capacity. The Indemnification Contracts provide that, to the extent insurance is reasonably available, CenturyTel will maintain comparable insurance coverage for each contracting party as long as he or she serves as an officer or director and thereafter for so long as he or she is subject to possible personal liability for actions taken in such capacities. The Indemnification Contracts also provide that if CenturyTel does not maintain comparable insurance, it will hold harmless and indemnify a contracting party to the full extent of the coverage that would otherwise have been provided for his or her benefit. Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of CenturyTel pursuant to the foregoing provisions, or otherwise, CenturyTel has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act of 1933 and is therefore unenforceable. ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED. Not applicable. ITEM 8. EXHIBITS. 4 Supplemental Dollars & Sense Plan (incorporated by reference to Exhibit 10.1(q) of the Registrant's Annual Report on Form 10-K for the year ended December 31, 1998). 5 Opinion of Jones, Walker, Waechter, Poitevent, Carrere & Denegre, L.L.P. 23.1 Consent of KPMG LLP. 23.2 Consent of Counsel (included in Exhibit 5). 24 Power of Attorney (included on the signature page of this Registration Statement). ITEM 9. UNDERTAKINGS. 1. The undersigned registrant hereby undertakes: (a) To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement: (i) To include any prospectus required by Section 10(a)(3) of the Securities Act of 1933; (ii) To reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement; (iii) To include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement; provided, however, that paragraphs 1(a)(i) and 1(a)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed by the registrant pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference herein. (b) That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered herein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. (c) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering. (2) The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant's annual report pursuant to section 13(a) or section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan's annual report pursuant to section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. (3) Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceedings) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question of whether such indemnification by it is against public policy as expressed in the Securities Act of 1933 and will be governed by the final adjudication of such issue. SIGNATURES Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Monroe, State of Louisiana, on November 18, 1999. CENTURYTEL, INC. By: /S/ Glen F. Post, III -------------------------------- Glen F. Post, III Vice Chairman of the Board of Directors, President and Chief Executive Officer POWER OF ATTORNEY KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears immediately below constitutes and appoints Clarke M. Williams, Glen F. Post, III and Harvey P. Perry, or any one of them, his true and lawful attorney-in- fact and agent, with full power of substitution, for him and in his name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement, and to file the same with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent or his substitute or substitutes may lawfully do or cause to be done by virtue hereof. Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated. Signature Title Date --------- ----- ---- /S/ Clarke M. Williams Chairman of the Board November 18, 1999 - ------------------------- of Directors Clarke M. Williams /S/ Glen F. Post, III Vice Chairman of the Board November 18, 1999 - ------------------------- of Directors, President and Glen F. Post, III Chief Executive Officer /S/ R. Stewart Ewing, Jr. Senior Vice President and Chief November 18, 1999 - ------------------------- Financial Officer R. Stewart Ewing, Jr. (Principal Financial Officer) /S/ Neal A. Sweasy Vice President and Controller November 18, 1999 - ------------------------- (Principal Accounting Officer) Neal A. Sweasy /S/ Harvey P. Perry Director November 18, 1999 - ------------------------- Harvey P. Perry /S/ W. Bruce Hanks Director November 18, 1999 - ------------------------- W. Bruce Hanks /S/ William R. Boles, Jr. Director November 18, 1999 - ------------------------- William R. Boles, Jr. /S/ Virginia Boulet Director November 18, 1999 - ------------------------- Virginia Boulet /S/ Ernest Butler, Jr. Director November 18, 1999 - ------------------------- Ernest Butler, Jr. /S/ Calvin Czeschin Director November 18, 1999 - ------------------------- Calvin Czeschin /S/ James B. Gardner Director November 18, 1999 - ------------------------- James B. Gardner /S/ R. L. Hargrove, Jr. Director November 18, 1999 - ------------------------- R. L. Hargrove, Jr. Director - ------------------------- Johnny Hebert /S/ F. Earl Hogan Director November 18, 1999 - ------------------------- F. Earl Hogan /S/ C. G. Melville, Jr. Director November 18, 1999 - ------------------------- C. G. Melville, Jr. /S/ Jim D. Reppond Director November 18, 1999 - ------------------------- Jim D. Reppond