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| S > SEC Filings for S > Form 8-K on 4-Jan-2008 | All Recent SEC Filings |
4-Jan-2008
Change in Directors or Principal Officers
(e) On December 31, 2007, Sprint Nextel Corporation (the "Company") and Barry West, Chief Technology Officer and President of the Company's Xohm Business Unit, entered into the third amendment to Mr. West's employment agreement, which provides for:
o a base salary for fiscal year 2008 of $469,356, subject to a merit
increase in the manner consistent with the Company's general policies
regarding compensation of senior executive employees;
o if Mr. West resigns during 2008, a pro-rata payment of his short-term
incentive award at the greater of target or actual, with payment being
made after the HC&CC has determined whether targets have been achieved;
o a lump sum payment of $250,000 on June 30, 2008 if Mr. West is employed
through that date, or a pro-rata payment of $250,000 based on the
number of days employed up until June 30, 2008 if Mr. West resigns or
is terminated without cause prior to June 30, 2008, payable as soon as
practicable after his termination;
o a lump sum payment of $250,000 on December 31, 2008 if Mr. West is
employed through that date, or a pro-rata payment of $250,000 based on
the number days employed after June 30, 2008 if Mr. West resigns or is
involuntarily terminated without cause prior to December 31, 2008,
payable as soon as practicable after his termination date; and
o waiver by Mr. West of participation in our 2008 long-term incentive
compensation programs.
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