Common use of Bonus Opportunities Clause in Contracts

Bonus Opportunities. During the Term of Employment, the Company shall provide you with annual short-term and long-term bonus opportunities. Your annual short-term bonus opportunity shall be effective January 1, 2000, and your annual long-term bonus opportunity shall become effective beginning in 2001. Your annual short-term bonus opportunity at norm shall not be less then 100 percent of your then-current base salary, and your annual maximum short-term bonus opportunity shall not be less than 200 percent of your then-current base salary. The value of your annual long-term bonus opportunity shall not be less than 500 percent of your then-current base salary. Any long-term bonus that is paid to you after an initial public offering of shares of Class A common stock of Verizon Wireless (the "IPO") shall be paid in shares of such Class A common stock; any long-term bonus that is paid to you before the IPO shall be paid in shares of common stock of Verizon Communications Inc. ("Verizon Communications"). In addition, if you remain in the continuous employ of the Company until June 30, 2001, you shall be entitled to a retention bonus equal to the sum of 100 percent of your base salary for 2001, 50 percent of your maximum short-term bonus opportunity for 2001, and 100 percent of your long-term bonus opportunity for 2001. If your long-term bonus opportunity is subject to a performance target, it shall be assumed for purposes of the retention bonus that the performance target is met. If you become entitled to the retention bonus, the retention bonus shall be paid to you in July 2001 unless you elect to defer receipt of the retention bonus in accordance with the Company's rules regarding deferral of compensation as in effect at the time of such election.

Bonus Opportunities. During the Term of Employment, the Company shall provide you with annual short-term and long-term bonus opportunities. Your annual short-term bonus opportunity shall be effective January 1, prorated for the year 2000 to reflect the six-month duration of the Agreement during 2000, and your annual long-term bonus opportunity shall become effective beginning in 2001. Your annual short-term bonus opportunity at norm shall not be less then than 100 percent of your then-current base salary, and your annual maximum short-term bonus opportunity shall not be less than 200 percent of your then-current base salary. The value of your annual long-term bonus opportunity shall not be less than 500 percent of your then-current base salary. Any long-term bonus that is paid to you after an initial public offering of shares of Class A common stock of Verizon Wireless (the "IPO") shall be paid in shares of such Class A common stock; any long-term bonus that is paid to you before the IPO shall be paid in shares of common stock of Verizon Communications Inc. ("Verizon Communications"). In addition, if you remain in the continuous employ of the Company until June 30, 2001, you shall be entitled to a retention bonus equal to the sum of 100 percent of your base salary for 2001, 50 percent of your maximum short-term bonus opportunity for 2001, and 100 percent of your long-term bonus opportunity for 2001. If your long-term bonus opportunity is subject to a performance target, it shall be assumed for purposes of the retention bonus that the performance target is met. If you become entitled to the retention bonus, the retention bonus shall be paid to you in July 2001 unless you elect to defer receipt of all or part of the retention bonus in accordance with the Company's rules regarding deferral provisions of compensation as in effect at the time of such electionparagraph 31 ("Deferrals").

Bonus Opportunities. During the Term of Employment, the Company shall provide you with annual short-term and long-term bonus opportunities. Your annual short-term bonus opportunity shall be effective January 1, 2000, and your annual long-term bonus opportunity shall become effective beginning in 2001. Your annual short-term bonus opportunity at norm shall not be less then than 100 percent of your then-current base salary, and your annual maximum short-term bonus opportunity shall not be less than 200 percent of your then-current base salary. The value of your annual long-term bonus opportunity shall not be less than 500 percent of your then-current base salary. Any long-term bonus that is paid to you after an initial public offering of shares of Class A common stock of Verizon Wireless (the "IPO") shall be paid in shares of such Class A common stock; any long-term bonus that is paid to you before the IPO shall be paid in shares of common stock of Verizon Communications Inc. ("Verizon Communications"). In addition, if you remain in the continuous employ of the Company until June 30, 2001, you shall be entitled to a retention bonus equal to the sum of 100 percent of your base salary for 2001, 50 percent of your maximum short-term bonus opportunity for 2001, and 100 percent of your long-term bonus opportunity for 2001. If your long-term bonus opportunity is subject to a performance target, it shall be assumed for purposes of the retention bonus that the performance target is met. If you become entitled to the retention bonus, the retention bonus shall be paid to you in July 2001 unless you elect to defer receipt of all or part of the retention bonus in accordance with the Company's rules regarding deferral provisions of compensation as in effect at the time of such electionparagraph 31 ("Deferrals").