EX-10 2 k20060420exh10.txt SUMMARY OF EXEC OFFICER AND DIRECTOR BENEFITS Exhibit 10.1
SUMMARY OF EXECUTIVE OFFICER BENEFITS AND BOARD OF DIRECTORS BENEFITS AND FEES * Description of Benefit Eligible Positions Amount/Schedule Club Memberships Chief Executive Officer, Chief Club Membership, not including Operating Officer, President, dues Consumer Solutions Sprint Nextel Long-Distance Board of Directors Actual usage (continues after Telephone and Wireless retirement for up to 120 months Service (1) 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 Executive Officers Legacy Sprint: Actual usage Telephone Service (1) (continues after retirement) Personal use of corporate Chief Executive Officer and Under an executive security aircraft Chairman program established by the Human Capital and Compensation Committee, each of the CEO and Chairman 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 or Chairman. Other Executive Officers and The CEO must pre-approve any Board of Directors proposed personal use of the corporate aircraft for personal reasons. Executive Physical Legacy Sprint Executive Officers Reimbursement for Annual Physical Examination Separation Executive Officers (unless Legacy Sprint: 1 year salary and otherwise provided in an individual benefits continuation plus lump agreement with an officer) sum bonus payment at conclusion of one year period equal to 80 percent of target opportunity Legacy Nextel: Benefits set forth in Nextel Change of Control Retention Bonus and Severance Pay Plan Description of Benefit Eligible Positions Amount/Schedule 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 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 April 17, 2006 and replaces the schedule filed as Exhibit 10.47 to Sprint Nextel's Annual Report on Form 10-K for the year ended December 31, 2005 (1) Sprint reimburses for income taxes associated with these benefits.
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