Summary of Executive Officer and Board of Directors Benefits and Fees

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the benefits and fees provided to executive officers and board members of the company. It details allowances such as automobile and club memberships, long-distance and PCS telephone services, income tax compliance assistance, miscellaneous personal services, disability and separation pay, and board fees. The benefits vary by position and include specific monetary amounts, schedules, and eligibility criteria. Some benefits, like certain telephone services and tax assistance, continue after retirement for a set period. Sprint also reimburses income taxes related to these benefits.

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EX-10.W 5 dex10w.txt SUMMARY OF EXECUTIVE OFFICER BENEFITS AND BOARD OF DIRECTORS BENEFITS AND FEES Exhibit 10(w) 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 Chief Operating Officer $1,300/month Division Presidents and Executive Vice $1,100/month Presidents Senior Vice Presidents $1,000/month - ------------------------------------------------------------------------------------------------------------------- Club Membership Chief Executive Officer, Chief Operating Approved at discretion Officer, Division Presidents and Executive of direct supervisor Vice Presidents, Senior Vice Presidents - ------------------------------------------------------------------------------------------------------------------- Sprint Long-Distance Board of Directors $6,000/year (continues after Telephone Service (1) retirement for up to 120 months) Chief Executive Officer, Chief Operating Actual usage (continues after Officer, Division Presidents, Executive retirement) and Senior Vice Presidents - ------------------------------------------------------------------------------------------------------------------- Sprint PCS Service (1) Board of Directors $2,000/year Use of PCS handsets - ------------------------------------------------------------------------------------------------------------------- Income tax compliance Chief Executive Officer and Chief Operating Amount incurred (preparation of federal Officer, Division Presidents, EVP/Chief and state income tax Financial Officer & EVP Legal & External filings and related Affairs analyses) (1) - ------------------------------------------------------------------------------------------------------------------- Miscellaneous services Chief Executive Officer and Chief Operating $15,000/year (investment counseling, Officer insurance counseling, Division Presidents and Executive Vice $12,000/year preparation of wills and Presidents trusts, tax counseling, Senior Vice Presidents $10,000/year income tax preparation, estate planning, and personal financial planning) (1) - ------------------------------------------------------------------------------------------------------------------- Disability Chief Executive Officer, Chief Operating 52 weeks at full base pay Officer, Division Presidents, Executive and Senior Vice Presidents
Separation Chief Executive Officer, Chief Operating Less than 5 years service: Officer, Division Presidents, Executive and 17 weeks salary Senior Vice Presidents (unless otherwise continuation provided in an individual agreement with an 5 to 10 years service: officer) 35 weeks salary continuation 11 to 18 years service: 43 weeks salary continuation More than 19 years service: 1 year salary continuation - ----------------------------------------------------------------------------------------------------------------- Fees Board of Directors Annual retainer - $40,000/year Meeting Fee - $1,250/meeting Committee Meeting Fee - $1,000/meeting - -----------------------------------------------------------------------------------------------------------------
(1) Sprint reimburses for income taxes associated with these benefits. -6-