Special Bonus Agreement between Nortel and David Drinkwater (October 2007)

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

Nortel, through its President and CEO Mike Zafirovski, agrees to pay David Drinkwater a special bonus of CDN$100,000 for serving as Chief Financial Officer from May 1, 2007 to November 11, 2007. The bonus will be paid in the first quarter of 2008, either alongside the regular annual incentive plan bonus or, if that is not paid, by March 28, 2008. This agreement recognizes Drinkwater's leadership and contributions during his tenure as CFO.

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EX-10.74 8 o38997exv10w74.htm EX-10.74 exv10w74  

Exhibit 10.74
CONFIDENTIAL-SPECIAL HANDLING
October 4, 2007
To: David Drinkwater
From Mike Zafirovski
Subject: Special Bonus
Dear David:
In recognition of your appointment as Chief Financial Officer for the period from May 1, 2007 through November 11, 2007, I am pleased to inform you that the Compensation and Human Resources Committee has approved a special bonus of CDN$100,000 for you.
This bonus will be paid to you in the first quarter of 2008 at the same time as the bonus payment under Nortel Networks Limited Annual Incentive Plan (AIP Plan). If no 2007 bonus payment is made under the AIP Plan, this bonus will be paid on or before March 28, 2008.
I want to personally thank you for your continued leadership to both the Finance and Legal organizations.
         
Sincerely,

 		    
/s/ Mike Zafirovski      
Mike Zafirovski     
President and Chief Executive Officer     
 
Mike Zafirovski
President and Chief Executive Officer
Nortel
195 The West Mall, Toronto, ON M9C 5K1 ###-###-#### ***@***