<PAGE>   1
                                                                   Exhibit 10.11

                         AGERE OFFICER SEVERANCE POLICY


<TABLE>
<S>                  <C>
ELIGIBILITY          -     Agere Officer status

                     -     Triggered by Company initiated termination, other
                           than for "Cause" as defined on page 2 or as described
                           under "Change in Control Provisions" on page 2

                     -     Contingent upon signing the standard, Agere Release
                           Agreement (including non-compete, non-solicitation
                           provisions)

                     -     All payments and benefits listed below will be offset
                           by any individually negotiated or legally required
                           arrangement

LEAVE OF ABSENCE     -     24 months of base salary and target bonus
PAYMENT
                     -     Base salary will be paid monthly.  Target bonus will
                           be paid annually in December.  Both payments are
                           benefits bearing.

EQUITY               STOCK OPTIONS

                     -     Options continue vesting as scheduled during the 24
                           month period.

                     -     At end of the 24 month period, your employment will
                           end and options will follow normal termination
                           provisions:

                     -     Pension eligible - Keep vested remainder of term;
                           unvested options cancel

                     -     Not Pension eligible - 90 days to exercise vested;
                           unvested options cancel

                     RESTRICTED STOCK

                     -     Restricted stock continues vesting as scheduled
                           during the 24 month period.

                     ESPP

                     -     Your participation will continue through payroll
                           deductions.

RETIREMENT           SERVICE PENSION
BENEFITS             Retirement eligible: Your severance pay will count towards
                     your pension. Pension payments begin after termination of
                     this arrangement.

                     Not retirement eligible: Deferred vested employees can
                     elect to begin payment at the termination of this
                     arrangement. The severance period can be used to accrue
                     service/age toward achieving pension eligibility.

                     CASH BALANCE PENSION
                     -     Severance pay will count towards the cash balance
                           plan. The cash balance is payable at the end of the
                           24 month period or later at employee election.

                     401(K)
                     -     Payroll deductions continue

HEALTH AND           -     Medical, Dental, Disability, Life Insurance, Car
WELFARE                    Allowance, Financial Counseling benefits continue the
BENEFITS                   same as actively employed Officers.

                     -     Company credit cards, home office equipment, voice
                           mail and e-mail will be cancelled at the beginning of
                           the 24 month period.

TERMINATION          -     In the event you need to terminate this arrangement
PROVISIONS                 during the 24 month leave period for any reason
                           (including conflict with another employer), the
                           Company may approve the payment of the remaining
                           amount of base salary and target bonus in a lump sum.
                           The normal "voluntary" termination provisions for the
                           stock and benefit plans will apply.
</TABLE>
<PAGE>   2
                                                                          Page 2

                            OFFICER SEVERANCE POLICY

<TABLE>
<S>                  <C>
CHANGE IN            -     Upon or after a Change in Control (as defined in the
CONTROL                    2001 Long Term Incentive Plan or its successor plan
PROVISIONS                 as in effect immediately before the Change in
                           Control) this policy will remain in effect.

                     -     Upon or after a Change in Control (as defined in the
                           2001 Long Term Incentive Plan or its successor plan
                           as in effect immediately before the Change in
                           Control), you will also be entitled to the benefits
                           of this policy if you terminate your employment
                           within three months of an event constituting Good
                           Reason. Good Reason is defined as follows:

                        (i)      the assignment to you by the Board of Directors
                                 or another representative of the Company of
                                 duties which represent a material decrease in
                                 responsibility and are materially inconsistent
                                 with the duties associated with your position,
                                 any reduction in your job title, or a material
                                 negative change in the level of Officer to whom
                                 you report, or

                        (ii)     a material negative change in the terms and
                                 conditions of your employment, including a
                                 reduction by the Company of your annual base
                                 salary or a material decrease in your target
                                 opportunity for a Short Term Incentive Award.

                     -     These provisions will also apply if, prior to the
                           spin-off of Agere by Lucent, there is a Change in
                           Control as defined in the Lucent Technologies Inc.
                           1996 Long Term Incentive Plan.
</TABLE>


"Cause" is defined as:

(i)      violation of Agere's code of conduct;

(ii)     conviction of (including a plea of guilty or nolo contendere) of a
         felony or any crime of theft, dishonesty or moral turpitude, or

(iii)    gross omission or gross dereliction of any statutory or common law duty
         of loyalty to Agere.




                  Lucent Technologies Proprietary (Restricted)
               Solely for Authorized Persons Having a Need to Know
                        Pursuant to Company Instructions