Summary of Interim Incentive Opportunity Program (November 9th, 2005)
The program was established to provide an interim incentive opportunity for eligible employees of Sprint Nextel Corporation, including executive officers other than Gary D. Forsee and Timothy M. Donahue. The program provides for a potential bonus opportunity of up to 15% of the targeted annual bonus if specified wireless subscriber additions and EBITDA (earnings before interest, taxes, depreciation and amortization) targets of differing weightings for participants in the wireless and the local telecommunications business are met for the period from September 1, 2005 to December 31, 2005.
Summary of Sprint Retention Program (March 11th, 2005)
The purpose of the Sprint retention program is to retain certain critical officers and other employees pending the proposed merger with Nextel Communications, Inc. and the contemplated spin-off of Sprints local telecommunications business and for a period of one year after these events. The Sprint retention program provides that Sprints executive officers, other than Messrs. Forsee and Lauer, are eligible for retention payments equal to 100% of their respective annual base salary and target short-term incentive bonus as of January 17, 2005. Under the terms of Sprints retention program, Robert J. Dellinger, Howard E. Janzen, Timothy E. Kelly, Michael W. Stout, Thomas A. Gerke, Kathryn A. Walker, Gene M. Betts, William R. Blessing, James G. Kissinger and John P. Meyer are eligible to receive retention payments equal to one-half of their annual base salary at the time of completion of the merger or an intervening business combination. They are entitled to receive a second retention paymen
Contract (November 9th, 2004)
Exhibit 10(h) Special Compensation and Non-Compete Agreement This Agreement is entered into as of the 28th day of August, 2001 (the "Grant Date"), by and between Sprint Corporation, a Kansas corporation ("Sprint," and it, together with its Subsidiaries, the "Employer"), and Tim Kelly ("Employee"). Recitals 1. Employer is engaged in the telecommunications and related businesses. This is a worldwide business that may be conducted from sites and serve customers throughout the world. 2. By virtue of his work for Employer, Employee has gained and will continue to gain additional valuable Proprietary Information of Employer. 3. Employer desires to enter into this Agreement to provide severance and other benefits for Employee in exchange for Employee's agreement to maintain the confidentiality of certain information and to refrain from competing