Search the web
Welcome, Guest
[Sign Out, My Account]
EDGAR_Online

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
FTR > SEC Filings for FTR > Form 8-K on 13-Mar-2013All Recent SEC Filings

Show all filings for FRONTIER COMMUNICATIONS CORP | Request a Trial to NEW EDGAR Online Pro

Form 8-K for FRONTIER COMMUNICATIONS CORP


13-Mar-2013

Change in Directors or Principal Officers, Financial Statements and


Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On March 8, 2013, Frontier Communications Corporation (the "Company") entered into an amended and restated employment agreement (the "Amended Employment Agreement") with Mary Agnes Wilderotter, the Company's Chairman and Chief Executive Officer, which amends certain terms contained in the employment agreement originally dated November 1, 2004, as amended and restated December 29, 2008, and again amended and restated March 31, 2010, between the Company and Mrs. Wilderotter (the "Existing Employment Agreement").

The Amended Employment Agreement amends the Existing Employment Agreement by: (i) providing for a new two-year term commencing March 8, 2013, which may be renewed by mutual agreement of the parties for additional one year terms; (ii) increasing annual base salary from $1,000,000 to $1,025,000; (iii) increasing target annual bonus opportunity from 135% to at least 150% of base salary; (iv) providing that Mrs. Wilderotter will serve as Chairman of the Board during the term of the Amended Employment Agreement but makes explicit that Mrs. Wilderotter would not have good reason to terminate her employment (and be entitled to severance) in the event that she ceases to serve as Chairman of the Board if (a) she is not elected to the Board or (b) the Board of Directors has taken action to name another person to the position of Chairman of the Board following approval of a stockholder proposal (with more votes cast for than against) to have different persons serve as Chief Executive Officer and Chairman of the Board. Such Board action requires a determination that it is in the best interests of the Company relative to other alternatives.

The Amended Employment Agreement also provides that if Mrs. Wilderotter's employment is terminated upon completion of the expiration of a term, the vesting of restricted stock shall be determined as if her service with the Company continued for an additional 12 months and performance shares shall vest pro rata through the date of termination and be paid at the conclusion of the performance period subject to (and based on) the attainment of applicable performance goals. Following a termination without cause or for good reason, annual bonus and performance long-term incentive awards would be paid based on actual performance (rather than at target, as provided in the Existing Agreement).

Other than the changes described above, the Amended Employee Agreement is similar to the Existing Employment Agreement in all material respects.

The foregoing description of the Amended Employment Agreement is qualified in its entirety by the Amended Employment Agreement itself, which is attached hereto as Exhibit 10.1 and incorporated herein by reference.



Item 9.01 Financial Statements and Exhibits

(d) Exhibits

10.1 Amended and Restated Employment Agreement dated as of March 8, 2013, between the Company and Mary Agnes Wilderotter.


  Add FTR to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for FTR - All Recent SEC Filings
Sign Up for a Free Trial to the NEW EDGAR Online Pro
Detailed SEC, Financial, Ownership and Offering Data on over 12,000 U.S. Public Companies.
Actionable and easy-to-use with searching, alerting, downloading and more.
Request a Trial      Sign Up Now


Copyright © 2013 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.