Exhibit 10(dd)

 

 

SUMMARY OF EXECUTIVE OFFICER BENEFITS AND BOARD OF DIRECTORS BENEFITS AND FEES *

 

 

Description of Benefit

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Eligible Positions

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Amount/Schedule

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Automobile Allowance

  

Chief Executive Officer

   $1,500/month            

Club Memberships and Dues

  

Chief Executive Officer

   Club Membership & $1,300/month dues allowance     

Chief Operating Officer, President, Consumer Solutions

   Club Membership            

Sprint Nextel Long-Distance

Telephone and Wireless Service (1)

  

Board of Directors

   Reasonable actual usage (continues after retirement for up to 120 months 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

Telephone Service (1)

  

Executive Officers

   Legacy Sprint: Actual usage (continues after retirement)            

Personal use of corporate aircraft

  

Chief Executive Officer

   Under an executive security program established by the Human Capital and
Compensation Committee, the CEO 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.     

Executive Officers

   The CEO must pre-approve any proposed personal use of the corporate aircraft
for personal reasons.            

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Miscellaneous services

(investment counseling, insurance counseling, preparation of wills and trusts,
tax counseling, income tax preparation, estate planning, and personal financial
planning) (1)

   Chief Executive Officer    $15,000/year             Executive Physical   

Legacy Sprint Executive Officers

   Reimbursement for Annual Physical Examination             Disability   

Executive Officers

   Legacy Sprint: 52 weeks at full base pay          

Legacy Nextel: Same benefits as all other employees

            Separation   

Executive Officers (unless otherwise provided in an individual agreement with an
officer)

   Legacy Sprint: 1 year salary and benefits continuation plus lump sum bonus
payment at conclusion of one year period equal to 80 percent of target
opportunity           Legacy Nextel: Benefits set forth in Nextel Severance
Benefits Plan             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

 

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          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 August 12, 2005 and replaces the schedule
filed as Exhibit 10.6 to Sprint Nextel’s Current Report on Form 8-K dated
February 8, 2005 and filed February 14, 2005.

(1) Sprint Nextel reimburses for income taxes associated with these benefits.

 

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