EX-10 8 summary.txt EXHIBIT 10(B) - SUMMARY OF BENEFITS Exhibit 10(b) SUMMARY OF EXECUTIVE OFFICER BENEFITS AND BOARD OF DIRECTORS BENEFITS AND FEES
Description of Eligible Positions Amount/Schedule Benefit Automobile Chief Executive Officer $1,500/month Allowance Chief Operating Officer $1,300/month Division Presidents and $1,100/month Executive Vice Presidents Senior Vice Presidents $1,000/month ____________________________________________________________________________ Club Chief Executive Officer, Dues approved at discretion Membership (1) Chief Operating Officer, of CEO Division Presidents and Executive Vice Presidents Senior Vice Presidents Dues approved at discretion of Executive Vice Presidents _____________________________________________________________________________ Sprint Long- Board of Directors $6,000/year (continues after Distance retirement for up to 120 Telephone months) Service (1) Chief Executive Officer, Actual usage (continues after Chief Operating Officer, retirement) Division Presidents, Executive and Senior Vice Presidents _____________________________________________________________________________ Sprint PCS Board of Directors $2,000/year Service (1) Use of PCS handsets ____________________________________________________________________________ Miscellaneous Chief Executive Officer and $15,000/year services Chief Operating Officer (e.g., Division Presidents and $12,000/year investment/tax Executive Vice President counseling, Senior Vice Presidents $10,000/year income tax preparation, estate planning) (1) ______________________________________________________________________________ Tax related Chief Executive Officer and Amount incurred services (1) Chief Operating Officers, Division Presidents, EVP/Chief Financial Officer & EVP Legal & External Affairs ______________________________________________________________________________ Disability Chief Executive Officer, 52 weeks at full base pay Chief Operating Officer, Division Presidents, Executive and Senior Vice Presidents Description of Eligible Positions Amount/Schedule Benefit Separation Chief Executive Officer, Less than 5 years' service: Chief Operating Officer, 17 weeks' salary continuation Division Presidents, 5 to 10 years' service Executive and Senior Vice 35 weeks' salary continuation Presidents (unless 11 to 18 years' service otherwise provided in an 43 weeks' salary continuation individual agreement More than 19 years' service: with an officer) 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.