Employment Agreement between Williams Communications, LLC and Scott E. Schubert (Dec 2002–June 2003)

Summary

This agreement outlines the terms of Scott E. Schubert’s continued employment with Williams Communications, LLC from December 10, 2002 to June 27, 2003. Schubert will serve as a senior executive, assisting the CEO and performing assigned duties. Either party may terminate employment after June 27, 2003, with Schubert entitled to severance benefits as if involuntarily terminated. If terminated before June 27, 2003 (unless for cause), he receives full compensation and severance. Schubert may also resign before that date but forfeits certain benefits. The agreement does not affect existing indemnification or other benefits unless specified.

EX-10.53 14 d04197exv10w53.txt EMPLOYMENT AGEEMENT - SCOTT E SCHUBERT EXHIBIT 10.53 December 9, 2002 Scott E. Schubert Williams Communications, LLC One Technology Center, 15A Tulsa, OK 74103 Re: December 10, 2002 - June 27, 2003 Employment Agreement Dear Scott: This letter is to memorialize the terms and conditions or the agreement reached between you and Williams Communications, LLC (the "Company") on October 29, 2002 regarding your continued employment by the Company from December 10, 2002 until June 27, 2003, as follows: 1. You will no longer serve as Chief Financial and Corporate Services Officer of the Company or as an officer of its parent, WilTel Communications Group, Inc. You will instead serve as a senior executive of both companies. You will assist the Chief Executive Officer as directed, including assistance in financial planning and reporting efforts, and perform other duties assigned by the CEO and Board of Directors that are consistent with your position as a senior executive. 2. On or after June 27, 2003, your employment may be terminated immediately upon notice either by you or by the Company. In the event of such termination, you will receive severance benefits equal to those that you would be entitled to receive as Chief Financial and Corporate Services Officer under the Williams Communications Group, Inc. Severance Protection Plan (the "Plan"), as if your employment had involuntarily terminated due to Severance, as that term is defined in the Plan, as of the date of this agreement. You will be entitled to receive these benefits regardless of whether the decision to terminate your employment is yours or the Company's. 3. The Company reserves the right to terminate your employment, at its sole discretion, before June 27, 2003. In that event, you will receive the total compensation, benefits, and severance you would have been entitled to under Sections 1 and 2 above had you remained employed until June 27, unless you are terminated for Cause, as defined in the Plan. 4. You have the right to terminate your employment prior to June 27, 2003, provided that upon such termination you will forego, as of the date of such termination, the compensation and benefits to which you would have been entitled to under Section 1 above. In the event of a termination under this Section 4, you will receive severance benefits equal to those that you would be entitled to receive as Chief Financial and Corporate Services Officer under the Plan as if your employment had involuntarily terminated due to Severance, as that term is defined in the Plan, as of the date of this agreement. 5. Nothing in this agreement is intended to alter the ability of you and the Company to continue your employment after June 27, 2003, upon mutually agreeable terms. 6. Nothing in this agreement is intended to alter or terminate any indemnification rights to which you are otherwise entitled or which the Company is otherwise obligated to provide. In addition, nothing in this agreement is intended to alter or terminate any other compensation and benefits to which you are entitled as of the date of this agreement except as specifically provided for in this agreement. If the above terms are acceptable to you, please so indicate by signing below, retaining a copy for yourself and returning a copy to me immediately. Yours very truly, /s/ JEFF K. STOREY /s/ H.E. SCRUGGS - -------------------------------- ---------------------------------- Jeff K. Storey H.E. Scruggs Chief Executive Officer Senior Vice President Accepted on the 10 day of December, 2002. -- /s/ SCOTT E. SCHUBERT - -------------------------------- Scott E. Schubert