Item 8.01 Other Events
Frontier Communications Corporation (the "Company") has an
employment agreement with its President and Chief Executive
Officer, Mary Agnes Wilderotter, which was entered into in
November 2004 and amended and restated to take into account
changes for purposes of Section 409A of the Internal Revenue Code
in December 2008 (as so amended, the "Employment Agreement"). The
initial term of the Employment Agreement expires in November
2009. The Employment Agreement contains, as an element of Mrs.
Wilderotter's compensation, an annual grant of restricted shares
with an aggregate value on the date of grant equal to no less
than $1,000,000 (the "Equity Provision"). On April 30, 2009, the
Company's Compensation Committee and Mrs. Wilderotter agreed that
upon renewal of the Employment Agreement in November 2009, the
Equity Provision will be removed. The Company's Compensation
Committee has also committed not to enter into any employment
agreements which contain guaranteed minimum equity provisions in
the future with Company executives.