SUMMARY OF EXECUTIVE OFFICER BENEFITS ANDBOARD OF DIRECTORS BENEFITS AND FEES *
Exhibit 10(dd)
SUMMARY OF EXECUTIVE OFFICER BENEFITS AND BOARD OF DIRECTORS BENEFITS AND FEES *
| Description of Benefit | Eligible Positions | Amount/Schedule | ||
| Automobile Allowance | Chief Executive Officer | $1,500/month | ||
| Club Memberships and Dues | Chief Executive Officer | Club Membership & $1,300/month dues allowance | ||
| Chief Operating Officer, President, Consumer Solutions | Club Membership | |||
| Sprint Nextel Long-Distance Telephone and Wireless Service (1) | Board of Directors | Reasonable actual usage (continues after retirement for up to 120 months for legacy Sprint Directors with 5 years or more service) and use of Sprint PCS and IDEN handsets, accessories, equipment and replacement parts related to this service. | ||
| Sprint Nextel Long-Distance Telephone Service (1) | Executive Officers | Legacy Sprint: Actual usage (continues after retirement) | ||
| Personal use of corporate aircraft | Chief Executive Officer | Under an executive security program established by the Human Capital and Compensation Committee, the CEO is required to use Sprint Nextel aircraft for personal as well as business travel. Sprint Nextel provides these security services for its benefit rather than as a personal benefit or perquisite for the CEO. | ||
| Executive Officers | The CEO must pre-approve any proposed personal use of the corporate aircraft for personal reasons. | |||
| Miscellaneous services (investment counseling, insurance counseling, preparation of wills and trusts, tax counseling, income tax preparation, estate planning, and personal financial planning) (1) | Chief Executive Officer | $15,000/year | ||
| Executive Physical | Legacy Sprint Executive Officers | Reimbursement for Annual Physical Examination | ||
| Disability | Executive Officers | Legacy Sprint: 52 weeks at full base pay | ||
| Legacy Nextel: Same benefits as all other employees | ||||
| Separation | Executive Officers (unless otherwise provided in an individual agreement with an officer) | Legacy Sprint: 1 year salary and benefits continuation plus lump sum bonus payment at conclusion of one year period equal to 80 percent of target opportunity | ||
| Legacy Nextel: Benefits set forth in Nextel Severance Benefits Plan | ||||
| Fees | Board of Directors | Annual retainer — $70,000/year | ||
| Additional Annual retainer for Lead Directors — $75,000/year | ||||
| Committee Chair additional annual retainer: | ||||
| Audit Committee — $20,000 | ||||
| Human Capital and Compensation Committee — $15,000 | ||||
| Other Committees — $10,000 | ||||
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| Board and Committee Meeting Fees — $2,000/ meeting | ||||
| Telephonic Board and Committee Meeting Fees — $1,000/meeting | ||||
| Annual award of $100,000 in restricted stock units | ||||
| * | This summary is effective beginning August 12, 2005 and replaces the schedule filed as Exhibit 10.6 to Sprint Nextel’s Current Report on Form 8-K dated February 8, 2005 and filed February 14, 2005. |
| (1) | Sprint Nextel reimburses for income taxes associated with these benefits. |
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