EXHIBIT 10j(iv)(a)
ADDENDUM TO VERIZON
COMMUNICATIONS INC. LONG-TERM INCENTIVE PLAN
PERFORMANCE STOCK UNIT
AGREEMENT
FOR THE 2005-2007 AWARD
CYCLE
This is an addendum to the Performance Stock
Unit Agreement for the 2005-2007 Award Cycle (the
“Agreement”) entered into between Verizon
Communications Inc. (“Verizon” or the
“Company”) and Ivan Seidenberg (the
“Participant”). The effective date of this addendum is
March 3, 2006, and it shall remain in effect through
December 31, 2007.
1. Purpose. The purpose of this addendum is to describe the
terms of an arrangement between the Participant and the Company
wherein the Participant can earn a long-term incentive payout under
the Agreement, based on the extent to which the Company achieves
certain strategic objectives (as defined in paragraph 3 below)
during the Award Cycle. Except as modified by this addendum, all of
the terms and conditions of the Agreement shall remain in
effect.
2. Payment. Subject to the limitation set forth in
paragraph 4 below, the Committee shall have the sole
discretion to determine the size of any additional payment pursuant
to this addendum, based on the Company’s achievement of the
strategic objectives referred to in paragraph 3 below. This
addendum and any payment made in accordance with this addendum are
not intended to comply with the Performance-Based Exception (set
forth in Code Section 162(m)(4)(C)) to the tax deductibility
limitation imposed by Code Section 162(m).
3. Achievement of Objectives.
The Committee shall have the sole
discreti
