Supplemental Letter to Employment Agreement between Verizon Communications Inc. and Charles R. Lee
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Summary
This letter agreement between Verizon Communications Inc. and Charles R. Lee confirms that Mr. Lee is voluntarily stepping down as Co-Chief Executive Officer effective March 31, 2002. He will remain an employee until June 30, 2002, and then serve as non-employee Chairman of the Board until June 30, 2004. All other terms of his December 5, 2000 Employment Agreement remain unchanged. The letter requires Mr. Lee's signature to confirm his agreement to these terms.
EX-10.E 7 d98774exv10we.txt SUPPLEMENTAL LETTER, EMPLOYMENT AGREEMENT - C. LEE EXHIBIT 10e [Verizon Logo] EZRA D. SINGER 1095 Avenue of the Americas Executive Vice President Room 3909 Human Resources New York, NY 10036 Tel: 212 ###-###-#### Fax: 212 ###-###-#### ***@*** Charles R. Lee 1095 Avenue of the Americas Room 3919 New York, NY 10036 Dear Chuck: On behalf of the Board of Directors, I am writing to express our gratitude for the leadership, vision, and commitment you have provided to Verizon. Consistent with your past actions, your decision to relinquish your title and duties as Co-Chief Executive Officer at this time was based on your view of what was in Verizon's interest, and Verizon will always be indebted to you for the example you have set by acting on that basis. We look forward to your continued leadership as Chairman of Verizon's Board of Directors. This letter will confirm that you are voluntarily stepping down as Co-Chief Executive Officer of Verizon effective as of the close of business on March 31, 2002. As a result, your December 5, 2000 Employment Agreement now provides that you will continue to be an employee of Verizon until June 30, 2002 and then, after your retirement, you will continue to serve as the non-employee Chairman of the Board of Directors of Verizon until June 30, 2004. Except as amended by this letter, the terms and conditions of your employment agreement remain in effect and are unchanged. Please indicate your agreement by signing and returning one copy of this letter. Sincerely yours, /s/ Ezra Singer - ------------------------------------------ Ezra Singer Executive Vice President - Human Resources Verizon Communications Inc. I agree to the terms set forth above. /s/ Charles R. Lee - ------------------------------------------ Charles R. Lee cc: Ivan Seidenberg
