Document:

Separation Agreement and General Release

 Exhibit 10.1 
 SEPARATION AGREEMENT AND GENERAL RELEASE 
 This Separation Agreement and General Release
(“Agreement”) is made and entered into as of May 2, 2007, by and between Murray Kawchuk (“Kawchuk”) and Axesstel, Inc., a Nevada corporation (“Axesstel”), and inures to the benefit of each of
Axesstel’s current, former and future parents, subsidiaries, related entities, employee benefit plans and their fiduciaries, predecessors, successors, officers, directors, shareholders, agents, employees and assigns. 
 RECITALS 
 A. Kawchuk has
served as the Senior Vice President of Sales and Corporate Marketing of Axesstel pursuant to an employment agreement dated October 20, 2006 (the “Employment Agreement”); 
 B. Axesstel and Kawchuk have agreed to terminate the Employment Agreement and Kawchuk’s position as Senior Vice President of Sales and Corporate
Marketing and Axesstel has agreed to provide certain benefits to Kawchuk, in exchange for his execution of this Agreement; and 
 C. Kawchuk
has agreed to accept the benefits to be provided to him under this Agreement. 
 NOW, THEREFORE, for and in consideration of the execution of
this Agreement, and the mutual covenants contained in the following paragraphs, Axesstel and Kawchuk agree as follows: 
 1. No
Admission of Liability. The parties agree that this Agreement, and performance of the acts required by it, does not constitute an admission of liability, culpability, negligence or wrongdoing on the part of anyone, and will not be construed
for any purpose as an admission of liability, culpability, negligence or wrongdoing by any party and/or by any party’s current, former or future parents, subsidiaries, related entities, predecessors, successors, officers, directors,
shareholders, agents, employees and assigns. 
 2. Termination of Employment Agreement. The parties agree that Kawchuk’s
employment and rights under the Employment Agreement shall be terminated as of May 15, 2007. 
 3. Severance and Payment.
Axesstel agrees that beginning May 16, 2007, it will make severance payments to Kawchuk in the form of continuation of Kawchuk’s compensation as outlined in Sections 3.2, 3.4 and 3.5 of the Employment Agreement (base salary, car and
membership allowances) through June 30, 2007 (the “Severance Payments”). Severance Payments will be made on Axesstel’s ordinary payroll dates, and will be subject to standard payroll deductions and withholdings. Severance
Payments will commence on the first regular payday following May 15, 2007. The parties agree that Kawchuk is not entitled to a performance bonus for the period after May 15, 2007. The parties also agree that Kawchuk will be covered by
Axesstel insurance programs including, but not limited to, medical, dental, life, accident, and disability coverage and that Kawchuk will continue to make regular contributions towards such coverage. The parties also agree that Kawchuk is not
required to repay any part of the Sign On Bonus as outlined in Section 3.1 of the Employment Agreement. 

 4. General Release. Kawchuk for himself, his heirs, executors, administrators, assigns and
successors, fully and forever releases and discharges Axesstel and each of its current, former and future parents, subsidiaries, related entities, employee benefit plans and their fiduciaries, predecessors, successors, officers, directors,
shareholders, agents, employees and assigns (collectively, “Releasees”), with respect to any and all claims, liabilities and causes of action, of every nature, kind and description, in law, equity or otherwise, which have arisen,
occurred or existed at any time prior to the signing of this Agreement, including, without limitation, any and all claims, liabilities and causes of action arising out of or relating to Kawchuk’s employment with Axesstel prior to the date of
this Agreement. 
 5. Knowing Waiver of Employment-Related Claims. Kawchuk understands and agrees that, with the exception of
potential employment-related claims identified below, he is waiving any and all rights he may have had, now has, or in the future may have, to pursue against any of the Releasees any and all remedies available to him under any employment-related
causes of action, including without limitation, claims of wrongful discharge, breach of contract, breach of the covenant of good faith and fair dealing, fraud, violation of public policy, defamation, discrimination, personal injury, physical injury,
emotional distress, claims under Title VII of the Civil Rights Act of 1964, as amended, the Age Discrimination in Employment Act, the Americans With Disabilities Act, the Federal Rehabilitation Act, the Family and Medical Leave Act, the California
Fair Employment and Housing Act, the California Family Rights Act, the Equal Pay Act of 1963, the provisions of the California Labor Code and any other federal, state or local laws and regulations relating to employment, conditions of employment
(including wage and hour laws), perquisites of employment (including, but not limited to, claims relating to stock and/or stock options) and/or employment discrimination. Claims not covered by the release provisions of this Agreement are
(i) claims for unemployment insurance benefits, (ii) claims under the California Workers’ Compensation Act, and (iii) claims arising from Axesstel’s nonperformance under this Agreement. The release provisions of this
Agreement do not apply to claims which may arise after the date of execution. 
 6. Knowing Waiver of ADEA Claims. Kawchuk
acknowledges that he is knowingly and voluntarily waiving and releasing any rights he may have under the federal Age Discrimination in Employment Act of 1967, as amended (“ADEA”). He also acknowledges that the consideration given
for this waiver and release is in addition to anything of value to which he was already was entitled. Kawchuk further acknowledges that he has been advised by this writing, as required by law, that: (a) his waiver and release specified in this
paragraph do not apply to any rights or claims that may arise after the date he signs this Agreement; (b) he has been advised hereby that he has the right to consult with an attorney prior to executing this Agreement; (c) he has twenty-one
(21) days to consider this Agreement (although he may choose to voluntarily execute this Agreement earlier); (d) he has seven (7) days following his execution of this Agreement to revoke the Agreement (in writing); and (e) this
Agreement will not be effective until the date upon which the revocation period has expired, which will be the eighth (8th) day after this Agreement is executed by Kawchuk, provided that Axesstel has also executed this Agreement by that date
(“Effective Date”). 

 7. Waiver of Civil Code § 1542. Kawchuk expressly waives any and all rights and
benefits conferred upon him by Section 1542 of the Civil Code of the State of California, which states as follows: 
 “A general
release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor.” 
 Kawchuk expressly agrees and understands that the release given by him pursuant to this Agreement applies to all unknown, unsuspected and unanticipated claims,
liabilities and causes of action which he may have against Axesstel or any of the other Releasees. 
 8. Severability of Release
Provisions. Kawchuk agrees that if any provision of the release given by him under this Agreement is found to be unenforceable, it will not affect the enforceability of the remaining provisions and the courts may enforce all remaining
provisions to the extent permitted by law. 
 9. Promise to Refrain from Suit or Administrative Action. Kawchuk promises and
agrees that he will never sue Axesstel or any of the other Releasees, or otherwise institute or participate in any legal or administrative proceedings against Axesstel or any of the other Releasees, with respect to any claim covered by the release
provisions of this Agreement, including, but not limited to, claims arising out of Kawchuk’s employment with Axesstel prior to the date of this Agreement, unless he is compelled by legal process to do so. Kawchuk promises and agrees that he
shall not advocate or incite the institution of, or assist or participate in, any suit, complaint, charge or administrative proceeding by any other person against Axesstel or any of the other Releasees, unless compelled by legal process to do so.

 10. Public Announcements. Kawchuk acknowledges that Axesstel will be required to issue a Current Report on Form 8-K with the
United States Securities and Exchange Commission in connection with the termination of his employment and the entry into this Agreement. Kawchuk agrees that Axesstel may state that Kawchuk has “elected to resign for personal reasons” or
other mutually acceptable language. Kawchuk will not make any contradictory statement and will refrain from making any statements that are defamatory, derogatory or detrimental with respect to Axesstel. Similarly, Axesstel, its officers, directors,
management and employees will not make any statements that are defamatory, derogatory or detrimental to Kawchuk. 
 11. Promise to
Maintain Confidentiality of Axesstel’s Confidential Information. Kawchuk acknowledges that due to the position he has occupied and the responsibilities he has had at Axesstel, he has received confidential information concerning
Axesstel’s products, procedures, customers, sales, prices, contracts, and the like. Kawchuk hereby promises and agrees that, unless compelled by legal process, he will not disclose to others and will keep confidential all information he has
received while employed by Axesstel concerning Axesstel’s products and procedures, the identities of Axesstel’s customers, Axesstel’s sales, Axesstel’s prices, the terms of any of Axesstel’s contracts with third parties, and
the like. Kawchuk agrees that a violation by him of the foregoing obligation to maintain the confidentiality of Axesstel’s confidential information will constitute a material breach of this Agreement. 

 
Kawchuk specifically confirms that he will continue to comply with the terms of the Employee Innovations and Proprietary Rights Assignment dated as of
October 20, 2006 and executed by Kawchuk and Axesstel. 
 12. Integrated Agreement. The parties acknowledge and agree that
no promises or representations were made to them which do not appear written herein and that this Agreement contains the entire agreement of the parties on the subject matter thereof. The parties further acknowledge and agree that parol evidence
shall not be required to interpret the intent of the parties. 
 13. Voluntary Execution. The parties hereby acknowledge that
they have read and understand this Agreement and that they sign this Agreement voluntarily and without coercion. 
 14. Waiver,
Amendment and Modification of Agreement. The parties agree that no waiver, amendment or modification of any of the terms of this Agreement shall be effective, unless in writing and signed by all parties affected by the waiver, amendment or
modification. No waiver of any term, condition or default of any term of this Agreement shall be construed as a waiver of any other term, condition or default. 
 15. Representation by Counsel. The parties acknowledge that they have had the opportunity to be represented in negotiations for the preparation of this Agreement by counsel of their own choosing, and
that they have entered into this Agreement voluntarily, without coercion, and based upon their own judgment and not in reliance upon any representations or promises made by the other party or parties or any attorneys, other than those contained
within this Agreement. The parties further agree that if any of the facts or matters upon which they now rely in making this Agreement hereafter prove to be otherwise, this Agreement will nonetheless remain in full force and effect. 
 16. Drafting. The parties agree that this Agreement shall be construed without regard to the drafter of the same and shall be construed as
though each party to this Agreement participated equally in the preparation and drafting of this Agreement. 
 17. California
Law. The parties agree that this Agreement and its terms shall be construed under California law, without regard to any choice of law provisions. 
 18. Agreement to Arbitrate Claims Arising from Agreement. The parties agree that with the exception of disputes and claims identified below, if any dispute arises concerning interpretation and/or
enforcement of the terms of this Agreement, said dispute shall be resolved by binding arbitration before a single arbitrator conducted in San Diego, California in accordance with the Judicial Arbitration and Mediation Services entity
(“JAMS”). The rules of JAMS then in effect shall govern. In the event that such a dispute arises, counsel for both parties will attempt to jointly select an arbitrator. If unable to do so, the procedures outlined in the JAMS rules
shall govern. Notwithstanding the foregoing, if Axesstel claims that Kawchuk has violated the confidentiality provisions of this Agreement and/or the confidentiality provisions of any other agreement referenced herein, Axesstel may, but is not
required to, arbitrate said dispute. Furthermore, neither party to this Agreement shall be prohibited from seeking injunctive relief in a judicial proceeding. 

 19. Counterparts. This Agreement may be signed in counterparts and said counterparts shall
be treated as though signed as one document. 
 20. Period to Consider Terms of Agreement. Kawchuk acknowledges that this
Agreement was presented to him on April 30, 2007 and that he is entitled to have up to twenty-one (21) days’ time in which to consider the terms of this Agreement. Kawchuk acknowledges that he has obtained the advice and counsel from
the legal representative of his choice and executes this Agreement having had sufficient time within which to consider its terms. Kawchuk represents that if he executes this Agreement before twenty-one (21) days have elapsed, he does so
voluntarily, upon the advice and with the approval of his legal counsel, and that he voluntarily waives any remaining consideration period. Kawchuk understands that if not executed on or before May 21, 2007, this Agreement shall expire and may
not be executed thereafter. 
 21. Revocation of Agreement. Kawchuk understands that after executing this Agreement, he has the
right to revoke it within seven (7) days after his execution of it. Kawchuk understands that this Agreement will not become effective and enforceable unless the seven (7) day revocation period passes and Kawchuk does not revoke the
Agreement in writing. Kawchuk understands that this Agreement may not be revoked after the seven (7) day revocation period has passed. Kawchuk understands that any revocation of this Agreement must be made in writing and delivered to
Axesstel’s General Counsel within the seven (7) day period. 
 22. Effective Date. This Agreement shall become
effective and binding upon the parties eight (8) days after Kawchuk’s execution thereof, so long as he has not revoked it within the time period and in the manner specified in paragraph 21 above. 
 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date set forth above. 
  

					
	 /s/ Murray Kawchuk
	 	
	Murray Kawchuk	 	
		
	AXESSTEL, INC.	 	
			
	By:	 	 /s/ Marv Tseu
	 	
		 	Marv Tseu	 	
		 	Chief Executive OfficerRestricted Stock Unit Agreement 2007-09 Award Cycle

 Exhibit 10a 
 VERIZON COMMUNICATIONS INC. LONG-TERM INCENTIVE PLAN 
 RESTRICTED STOCK UNIT AGREEMENT

 2007–09 AWARD CYCLE 
 AGREEMENT
between Verizon Communications Inc. (“Verizon” or the “Company”) and you (the “Participant”) and your heirs and beneficiaries. 
 1. Purpose of Agreement. The purpose of this Agreement is to provide a grant of restricted stock units (“RSUs”) to the Participant. 
 2. Agreement. This Agreement is entered into pursuant to the 2001 Verizon Communications Inc. Long-Term Incentive Plan (the “Plan”), and evidences the grant of a restricted stock award in the form of RSUs pursuant to the
Plan. The participant’s obligations and restrictions set forth in Exhibit A to this Agreement (the “Participant’s Obligations”) are incorporated into and are a part of the Agreement. The RSUs and this Agreement are subject to the
terms and provisions of the Plan. By executing this Agreement, the Participant agrees to be bound by the terms and provisions of the Plan and this Agreement. In addition, the Participant agrees to be bound by the actions of the Human Resources
Committee of Verizon Communication’s Board of Directors or any successor thereto (the “Committee”), and any designee of the Committee (to the extent that such actions are exercised in accordance with the terms of the Plan and this
Agreement). If there is a conflict between the terms of the Plan and the terms of this Agreement, the terms of this Agreement shall control. 
 3.
Contingency. The grant of RSUs is contingent on the Participant’s timely acceptance of this Agreement and satisfaction of the other conditions contained in it. If the Participant does not accept this Agreement by the close of business on
April 30, 2007, the Participant shall not be entitled to the RSUs regardless of the extent to which the vesting requirements in paragraph 5 (“Vesting”) are satisfied. 
 4. Number of Units. The Participant is granted the number of RSUs as specified in their account under the 2007 RSU grant, administered by Fidelity Investments or any successor thereto (“Fidelity”). A
RSU is a hypothetical share of Verizon’s common stock. The value of a RSU on any given date shall be equal to the closing price of Verizon’s common stock on the New York Stock Exchange as of such date. A RSU does not represent an equity
interest in Verizon and carries no voting rights. A Dividend Equivalent Unit (“DEU”) or fraction thereof shall be added to each RSU each time that a dividend is paid on Verizon’s common stock. The amount of each DEU shall be equal to
the dividend paid on a share of Verizon’s common stock. The DEU shall be converted into RSUs or fractions thereof based upon the closing price of Verizon’s common stock traded on the New York Stock Exchange on the dividend payment date of
each declared dividend on Verizon’s common stock, and such RSUs or fractions thereof shall be added to the Participant’s RSU balance. To the extent that Fidelity or the Company makes an administrative error with respect to the number or
value of the RSUs granted to the Participant under this Agreement or the DEUs credited to your account, the Company or Fidelity specifically reserves the right to correct such error at any time and the Participant agrees that he or she shall be
legally bound by any corrective action taken by the Company or the Plan Administrator. 
 5. Vesting. 
 (a) General. The Participant shall vest in the RSUs only if the Participant is continuously employed by the Company or a Related Company (as
defined in paragraph 13) from the date the RSUs are granted through the end of the Award Cycle, except as otherwise provided in paragraph 7 (“Early Cancellation/Accelerated Vesting of RSUs”) or as otherwise provided by the Committee. For
purposes of these RSUs, “Award Cycle” shall mean the three-year period beginning on January 1, 2007, and ending at the close of business on December 31, 2009. 
  

 (b) Transfer. Transfer of employment from Verizon to a Related Company (as defined in paragraph
13), from a Related Company to Verizon, or from one Related Company to another Related Company shall not constitute a separation from employment hereunder, and service with a Related Company shall be treated as service with the Company for purposes
of the three-year continuous employment requirement in paragraph 5(a). If you transfer employment pursuant to this paragraph 5(d), you will still be required to satisfy the definition of “Retire” under paragraph 7 of this Agreement in
order to be eligible for the accelerated vesting provisions in connection with a retirement. 
 6. Payment. All payments under this Agreement shall be
made in cash. As soon as practicable after the end of the Award Cycle (but in no event later than March 15, 2010), except as described in paragraph 7(c), the value of the vested RSUs (minus any withholding for taxes) shall be paid to the
Participant (subject, however, to any deferral application that the Participant has made under the deferral plan (if any) then available to the Participant). The amount of cash that shall be paid (plus withholding for taxes and any applicable
deferral election) shall equal the number of vested RSUs times the closing price of Verizon’s common stock on the New York Stock Exchange as of the last trading day in the Award Cycle (or the closing price on the effective date of the
Change in Control, in the case of a payment made under paragraph 7(c)). If the Participant dies before any payment due hereunder is made, such payment shall be made to the Participant’s beneficiary, as designated under paragraph 11. Once a
payment has been made with respect to a RSU, the RSU shall be canceled. 
 7. Early Cancellation/Accelerated Vesting of RSUs. Subject to the
provisions of paragraph 7(c) and 5, RSUs may vest or be forfeited before vesting as follows: 
 (a) Retirement Before July 1, 2007,
Voluntary Separation On or Before December 31, 2009 or Discharge for Cause On or Before December 31, 2009. 
 (1) If the
Participant (i) Retires (as defined in paragraph 7(b)(4)) before July 1, 2007, (ii) quits on or before December 31, 2009, (iii) is terminated for Cause (as defined below) on or before December 31, 2009 (even if
otherwise eligible to Retire), or (iv) separates from employment on or before December 31, 2009 under circumstances not described in paragraph 7(b), all then-unvested RSUs shall be canceled immediately and shall not be payable. 

(2) For purposes of this Agreement, “Cause” means (i) grossly incompetent performance or substantial or continuing inattention to or
neglect of the duties and responsibilities assigned to the Participant; fraud, misappropriation or embezzlement involving the Company; or a material breach of the Verizon Code of Business Conduct or any of the Participant’s Obligations set
forth in Exhibit A to this Agreement, all as determined by the Executive Vice President – Human Resources of Verizon (or his or her designee) in his or her discretion, or (ii) commission of any felony of which the Participant is finally
adjudged guilty by a court of competent jurisdiction. 
 (b) Retirement After June 30, 2007, Involuntary Termination Without Cause On
or Before December 31, 2009, Termination Due to Death or Disability On or Before December 31, 2009. 
 (1) This paragraph 7(b)
shall apply if the Participant: 
 (i) Retires (as defined below) after June 30, 2007, or 
 (ii) Separates from employment by reason of an involuntary termination without Cause (as determined by the Executive Vice President – Human
Resources of Verizon (or his or her designee)), death, or disability (as defined below) on or before the last day of the Award Cycle. “Disability” shall mean the total and permanent disability of the Participant as defined by, or
determined under, the Company’s long-term disability benefit plan. 
  

 (2) If the Participant separates from employment prior to the end of the Award Cycle under circumstances
described in paragraph 7(b)(1), the Participant’s then-unvested RSUs shall vest without regard to the three-year continuous employment requirement set forth in paragraph 5(a), provided that the Participant has not and does not commit a material
breach of any of the Participant’s Obligations and provided that the Participant executes a release satisfactory to the Company waiving any claims he or she may have against the Company. 
 (3) Any RSUs that vest pursuant to paragraph 7(b)(2) shall be payable as soon as practicable after the end of the Award Cycle (but in no event later than
March 15, 2010), except as described in paragraph 7(c). However, the Committee retains the discretion to determine whether and the extent to which the Participant is eligible to receive DEUs with respect to dividends declared after the
Participant’s separation from employment pursuant to paragraph 7(b)(1). 
 (4) For purposes of this Agreement, “Retire” means
(i) to retire after having attained at least 15 years of Net Credited Service (as defined under the Verizon Management Pension Plan) and a combination of age and years of Net Credited Service that equals or exceeds 75 points, or
(ii) retirement under any other circumstances determined in writing by the Executive Vice President – Human Resources of Verizon (or his or her designee), provided that, in the case of either (i) or (ii), the retirement was not
occasioned by a discharge for Cause. 
 (c) Change in Control. Upon the occurrence of a Change in Control of Verizon (as defined in the
Plan) on or before the last day of the Award Cycle, all then-unvested RSUs shall vest and be payable immediately (without prorating of the award) without regard to the three-year continuous employment requirement in paragraph 5(a). A Change in
Control that occurs after the end of the Award Cycle shall have no effect on whether any RSUs vest or become payable. A Participant who receives the immediate award payment provided in this paragraph 7(c) shall be entitled to receive payment for all
DEUs earned before the Change in Control, even if such DEUs are paid or payable after the Change in Control. 
 (d) Vesting Schedule.
Except and to the extent provided in paragraphs 7(b) and (c), nothing in this paragraph 7 shall alter the vesting schedule prescribed by paragraph 5. 
 8. Shareholder Rights. The Participant shall have no rights as a shareholder with respect to shares of common stock to which this grant relates. Except as provided in the Plan or in this Agreement, no adjustment shall be made, for
dividends or other rights for which the record date occurs while the RSUs are outstanding. 
 9. Amendment of Agreement. Except to the extent required
by law or specifically contemplated under this Agreement, neither the Committee nor the Executive Vice President – Human Resources of Verizon (or his or her designee) may, without the written consent of the Participant, change any term,
condition or provision affecting the RSUs if the change would materially and adversely affect the RSUs or the Participant’s legitimate rights thereto. Nothing in the preceding sentence shall preclude the Committee or the Executive Vice
President – Human Resources of Verizon (or his or her designee) from exercising reasonable administrative discretion with respect to the Plan or this Agreement, and the exercise of such discretion shall be final, conclusive and binding. This
discretion includes, but is not limited to, corrections of any administrative errors and whether the Participant has been discharged for Cause, has a disability, has Retired, has breached any of the Participant’s Obligations set forth in
Exhibit A or has satisfied the three-year continuous employment requirement. 
  

 10. Assignment. The RSUs shall not be assigned, pledged or transferred except by will or by the laws of descent
and distribution. During the Participant’s lifetime, the RSUs may be deferred only by the Participant or by the Participant’s guardian or legal representative in accordance with the deferral regulations, if any, established by the Company.

 11. Beneficiary. The Participant shall designate a beneficiary in writing and in such manner as is acceptable to the Executive Vice President
– Human Resources of Verizon (or his or her designee). If the Participant fails to so designate a beneficiary, or if no such designated beneficiary survives the Participant, the Participant’s beneficiary shall be the Participant’s
estate. 
 12. Other Plans and Agreements. Any payment received (or deferred) by the Participant pursuant to this Agreement shall not be taken into
account as compensation in the determination of the Participant’s benefits under any pension, savings, group insurance, severance or other benefit plan maintained by Verizon or a Related Company. The Participant acknowledges that receipt of
this Agreement or any prior RSU agreement shall not entitle the Participant to any other benefits under the Plan or any other plans maintained by the Company or a Related Company. 
 13. Company and Related Company. For purposes of this Agreement, “Company” means Verizon Communications Inc. “Related Company” means (a) any corporation, partnership, joint venture, or
other entity in which Verizon Communications Inc. holds a direct or indirect ownership or proprietary interest of 50 percent or more, or (b) any corporation, partnership, joint venture, or other entity in which Verizon Communications Inc. holds
an ownership or other proprietary interest of less than 50 percent but which, in the discretion of the Committee, is treated as a Related Company for purposes of this Agreement. 
 14. Employment Status. The grant of the RSUs shall not be deemed to constitute a contract of employment for a particular term between the Company or a Related Company and the Participant, nor shall it
constitute a right to remain in the employ of any such Company or Related Company. 
 15. Withholding. The Participant shall be responsible for any
taxes that arise in connection with this grant of RSUs, and the Company shall make such arrangements as it deems necessary for withholding of any taxes it determines are required to be withheld pursuant to any applicable law or regulation.

 16. Securities Laws. The Company shall not be required to make payment with respect to any shares of common stock prior to the admission of such
shares to listing on any stock exchange on which the stock may then be listed and the completion of any registration or qualification of such shares under any federal or state law or rulings or regulations of any government body that the Company, in
its discretion, determines to be necessary or advisable. 
 17. Committee Authority. The Committee shall have complete discretion in the exercise of
its rights, powers, and duties under this Agreement. Any interpretation or construction of any provision of, and the determination of any question arising under, this Agreement shall be made by the Committee in its discretion, as outlined in
paragraph 9. The Committee may designate any individual or individuals to perform any of its functions hereunder. 
 18. Successors. This Agreement
shall be binding upon, and inure to the benefit of, any successor or successors of the Company and the person or entity to whom the RSUs may have been transferred by will, the laws of descent and distribution, or beneficiary designation. All terms
and conditions of this Agreement imposed upon the Participant shall, unless the context clearly indicates otherwise, be deemed, in the event of the Participant’s death, to refer to and be binding upon the Participant’s heirs and
beneficiaries. 
  

 19. Construction. This Agreement is intended to grant the RSUs upon the terms and conditions authorized by the
Plan. Any provisions of this Agreement that cannot be so administered, interpreted, or construed shall be disregarded. In the event that any provision of this Agreement is held invalid or unenforceable, such provision shall be considered separate
and apart from the remainder of this Agreement, which shall remain in full force and effect. In the event that any provision, including any of the Participant’s Obligations, is held to be unenforceable for being unduly broad as written, such
provision shall be deemed amended to narrow its application to the extent necessary to make the provision enforceable according to applicable law and shall be enforced as amended. 
 20. Defined Terms. Except where the context clearly indicates otherwise, all capitalized terms used herein shall have the definitions ascribed to them by the Plan, and the terms of the Plan shall apply where
appropriate. 
 21. Execution of Agreement. The Participant shall indicate consent to the terms of this Agreement (including the Participant’s
Obligations in Exhibit A) and the Plan by executing this Agreement pursuant to the instructions provided and otherwise shall comply with the requirements of paragraph 3. In addition, by consenting to the terms of this Agreement and the
Participant’s Obligations, the Participant expressly agrees and acknowledges that Fidelity will deliver all statements associated with the Long-Term Incentive Plan to the Participant in electronic form. The Participant and Verizon hereby
expressly agree that the use of electronic media to indicate confirmation, consent, signature, acceptance, agreement and delivery shall be legally valid and have the same legal force and effect as if the Participant and Verizon executed this
Agreement (including Exhibit A) in paper form. 
 22. Confidentiality. Except to the extent otherwise required by law, the Participant shall not
disclose, in whole or in part, any of the terms of this Agreement. This paragraph 22 does not prevent the Participant from disclosing the terms of this Agreement to the Participant’s spouse or beneficiary or to the Participant’s legal,
tax, or financial adviser, provided that the Participant take all reasonable measures to assure that the individual to whom disclosure is made does not disclose the terms of this Agreement to a third party except as otherwise required by law.

 23. Applicable Law. The validity, construction, interpretation and effect of this Agreement shall be governed by and construed in accordance with
the laws of the State of New York, without giving effect to the conflicts of laws provisions thereof. 
 24. Notice. Any notice to the Company
provided for in this Agreement shall be addressed to the Company in care of the Executive Vice President – Human Resources of Verizon at One Verizon Way, Basking Ridge, NJ 07920-1097 and any notice to the Participant shall be addressed to the
Participant at the current address shown on the payroll of the Company, or to such other address as the Participant may designate to the Company in writing. Any notice shall be delivered by hand, sent by telecopy or enclosed in a properly sealed
envelope as stated above, registered and deposited, postage prepaid, in a post office regularly maintained by the United States Postal Service. 
 25.
Dispute Resolution. 
 (a) General. Except as otherwise provided in paragraph 26 below, all disputes arising under the Plan or this
Agreement and all claims in which a Participant seeks damages that relate in any way to RSUs or other benefits of the Plan are subject to the dispute resolution procedure described below in paragraph 25. Notwithstanding the foregoing in this
Section 25(a), the parties to this Agreement are not required to arbitrate Employment Claims, as defined in subsection (a)(ii) below, in which the Participant does not seek damages that relate in any way to RSUs or other benefits of the Plan or
this Agreement. 
  

 (i) For purposes of this Agreement, the term “Units Award Dispute” shall mean any claim
against the Company or a Related Company regarding (A) the interpretation of the Plan or this Agreement, (B) any of the terms or conditions of the RSUs issued under this Agreement, or (C) allegations of entitlement to RSUs or
additional RSUs, or any other benefits under the Plan, other than Employment Claims described in subsection (a)(ii) below; provided, however, that any dispute relating to the forfeiture of an award as a result of a breach of any of the
Participant’s Obligations contained in Exhibit A shall not be subject to the dispute resolution procedures provided for in this paragraph 25. 
 (ii) For purposes of this Agreement, the term “Units Damages Dispute” shall mean any employment related claims between the Participant and the Company or a Related Company or against the directors, officers, employees,
representatives, or agents of the Company or a Related Company, including claims of alleged employment discrimination, wrongful termination, or violations of Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act, the Age
Discrimination in Employment Act, 42 U.S.C. § 1981, the Fair Labor Standards Act, the Family Medical Leave Act, the Sarbanes-Oxley Act, or any other U.S. federal, state or local law, statute, regulation, or ordinance relating to employment or
any common law theories of recovery relating to employment, such as breach of contract, tort, or public policy claims (“Employment Claims”), in which the damages sought do not relate in any way to RSUs or other benefits of the Plan.

 (b) Internal Dispute Resolution Procedure. All Units Award Disputes shall be referred in the first instance to the Verizon Employee
Benefits Committee (“EB Committee”) for resolution internally within Verizon. Except where otherwise prohibited by law, all Units Award Disputes must be filed in writing with the EB Committee no later than one year from the date that the
dispute accrues. Consistent with paragraph 25(c)(i) of this Agreement, decisions about the enforceability of the limitations period contained herein are for the arbitrator to decide. To the fullest extent permitted by law, the EB Committee shall
have full power, discretion, and authority to interpret the Plan and this Agreement and to decide all Units Award Disputes brought under this Plan and Agreement before them. Determinations made by the EB Committee shall be final, conclusive and
binding, subject only to review by arbitration pursuant to subsection (c) below under the arbitrary and capricious standard of review. 
 (c) Arbitration. All appeals from determinations of a Units Award Dispute by the EB Committee as described in subsection (b) above, and any Units Damages Dispute, shall be fully and finally settled by arbitration administered by
the American Arbitration Association (“AAA”) on an individual basis (and not on a collective or class action basis) before a single arbitrator pursuant to the AAA’s Commercial Arbitration Rules in effect at the time any such
arbitration is initiated. Any such arbitration must be initiated in writing pursuant to the aforesaid rules of the AAA no later than one year from the date that the claim accrues. Decisions about the applicability of the limitations period contained
herein are for the arbitrator to decide. A copy of the AAA’s Commercial Arbitration Rules may be obtained from Human Resources. The Participant agrees that the arbitration shall be held at the office of the AAA nearest the place of the
Participant’s most recent employment by the Company or a Related Company, unless the parties agree to a different location. All claims by the Company or a Related Company against the Participant, except for breaches of any of the
Participant’s Obligations contained in Exhibit A hereto, shall also be raised in such arbitration proceedings. 
 (i) The arbitrator
shall have the authority to determine whether this arbitration agreement is enforceable and whether any dispute submitted for arbitration hereunder is arbitrable. 

 
The arbitrator shall decide all issues submitted for arbitration according to the terms of the Plan, this Agreement, existing Company policy, and applicable
substantive New York State and U.S. federal law and shall have the authority to award any remedy or relief permitted by such laws. The final decision of the EB Committee with respect to a Units Award Dispute shall be upheld unless such decision was
arbitrary or capricious. The decision of the arbitrator shall be final and binding and enforceable in any applicable court. 
 (ii) The
Participant understands and agrees that, pursuant to this Agreement, both the Participant and the Company or a Related Company waive any right to sue each other in a court of law or equity, to have a trial by jury, or to resolve disputes on a
collective, or class, basis, and that the sole forum available for the resolution of Units Award Disputes and Units Damages Disputes is arbitration as provided herein. This dispute resolution procedure shall not prevent either the Participant or the
Company or a Related Company from commencing an action in any court of competent jurisdiction for the purpose of obtaining injunctive relief to prevent irreparable harm pending arbitration hereunder; in such event, both the Participant and the
Company or a Related Company agree that the party who commences the action may proceed without necessity of posting a bond. 
 (iii) In
consideration of the Participant’s agreement in subsection (ii) above, the Company or a Related Company will pay all filing, administrative and arbitrator’s fees incurred in connection with the arbitration proceedings. If the AAA
requires the Participant to pay the initial filing fee, the Company or a Related Company will reimburse the Participant for that fee. 
 (iv)
The parties intend that the arbitration procedure to which they hereby agree shall be the exclusive means for resolving all Units Award Disputes (subject to the mandatory EB Committee procedure provided for in Paragraph 25(b) above) and Units
Damages Disputes. Their agreement in this regard shall be interpreted as broadly and inclusively as reason permits to realize that intent. 
 (v) Notwithstanding any other provision of this Agreement, any dispute arising under this Agreement or subject to this dispute resolution provision shall be governed by and construed in accordance with the laws of the State of New York,
without giving effect to the conflicts of laws provisions thereof. 
 26. Additional Remedies. Notwithstanding the dispute resolution procedures,
including arbitration, of paragraph 25 of this Agreement, and in addition to any other rights or remedies, whether legal, equitable, or otherwise, that each of the parties to this Agreement may have (including the right of the Company to terminate
the Participant for Cause), the Participant acknowledges that— 
 (a) The Participant’s Obligations in Exhibit A to this Agreement
are essential to the continued goodwill and profitability of the Company; 
 (b) The Participant has broad-based skills that will serve as the
basis for employment opportunities that are not prohibited by the Participant’s Obligations in Exhibit A; 
 (c) When the
Participant’s employment with the Company terminates, the Participant shall be able to earn a livelihood without violating any of the Participant’s Obligations in Exhibit A; 
  

 (d) Irreparable damage to the Company shall result in the event that the Participant’s Obligations
in Exhibit A are not specifically enforced and that monetary damages will not adequately protect the Company from a breach of these Participant’s Obligations; 
 (e) If any dispute arises concerning the violation or anticipated or threatened violation by the Participant of any of the Participant’s Obligations in Exhibit A, an injunction may be issued restraining such
violation pending the determination of such controversy, and no bond or other security shall be required in connection therewith; 
 (f) The
Participant’s Obligations in Exhibit A shall continue to apply after any expiration, termination, or cancellation of this Agreement; 
 (g) The Participant’s breach of any of the Participant’s Obligations in Exhibit A shall result in the Participant’s immediate forfeiture of all rights and benefits, including all RSUs and DEUs, under this Agreement; and

 (h) All disputes relating to the Participant’s Obligations in Exhibit A, including their interpretation and enforceability and any
damages (including but not limited to damages resulting in the forfeiture of an award under this Agreement) that may result from the breach of such Participant’s Obligations, shall not be subject to the dispute resolution procedures, including
arbitration, of paragraph 25 of this Agreement, but shall instead be determined in a court of competent jurisdiction. 
  

 Exhibit A – Participant’s Obligations 
 1. Noncompetition — In consideration for the benefits described in the Agreement to which this Exhibit A is attached and other good and valuable consideration, you, the Participant, agree that: 

(a) Prohibited Conduct — During the period of your employment with the Company or any Related Company, and for the period ending twelve
(12) months following a termination of your employment for any reason with the Company or any Related Company, you shall not, without the prior written consent of the Executive Vice President – Human Resources of Verizon (or his or her
designee): 
 (1) personally engage in Competitive Activities (as defined below); or 
 (2) work for, own, manage, operate, control, or participate in the ownership, management, operation, or control of, or provide consulting or advisory
services to, any person, partnership, firm, corporation, institution or other entity engaged in Competitive Activities, or any company or person affiliated with such person or entity engaged in Competitive Activities; provided that your purchase or
holding, for investment purposes, of securities of a publicly traded company shall not constitute “ownership” or “participation in the ownership” for purposes of this paragraph so long as your equity interest in any such company
is less than a controlling interest; 
 provided that this paragraph (a) shall not prohibit you from (i) being employed by, or
providing services to, a consulting firm, provided that you do not personally engage in Competitive Activities or provide consulting or advisory services to any individual, partnership, firm, corporation, institution or other entity engaged in
Competitive Activities, or any person or entity affiliated with such individual, partnership, firm, corporation, institution or other entity engaged in Competitive Activities, or (ii) engaging in the practice of law as an in-house counsel, sole
practitioner or as a partner in (or as an employee of or counsel to) a corporation or law firm in accordance with applicable legal and professional standards. This exception, however, does not apply to any Participant that may be engaging in
Competitive Activities or providing services to any individual, partnership, firm, corporation, institution or other entity engaged in Competitive Activities, wherein such employment or services being provided are not the practice of law.

 (b) Competitive Activities — For purposes of the Agreement, to which this Exhibit A is attached, “Competitive
Activities” means activities relating to products or services of the same or similar type as the products or services (1) which were or are sold (or, pursuant to an existing business plan, will be sold) to paying customers of the Company
or any Related Company, and (2) for which you have responsibility to plan, develop, manage, market, oversee or perform, or had any such responsibility within your most recent 24 months of employment with the Company or any Related Company.
Notwithstanding the previous sentence, an activity shall not be treated as a Competitive Activity if the geographic marketing area of the relevant products or services does not overlap with the geographic marketing area for the applicable products
and services of the Company or any Related Company. 
 2. Interference With Business Relations — During the period of your employment with the
Company or any Related Company, and for a period ending twelve (12) months following a termination of your employment for any reason with the Company or any Related Company, you shall not, without the written consent of the Executive Vice
President – Human Resources of Verizon (or his or her designee): 
 (a) recruit, induce or solicit any employee, directly or
indirectly, of the Company or Related Company for employment or for retention as a consultant or service provider; 
  

 (b) hire or participate (with another person or entity) in the process of hiring (other than for
the Company or any Related Company) any person who is then an employee of the Company or any Related Company, or provide names or other information about any employees of the Company or Related Company to any person or entity (other than the Company
or any Related Company), directly or indirectly, under circumstances that could lead to the use of any such information for purposes of recruiting, soliciting or hiring; 
 (c) interfere, directly or indirectly, with the relationship of the Company or any Related Company with any of its employees, agents, or representatives; 
 (d) solicit or induce, or in any manner attempt to solicit or induce, directly or indirectly, any client, customer, or prospect of the Company or
any Related Company (1) to cease being, or not to become, a customer of the Company or any Related Company or (2) to divert any business of such customer or prospect from the Company or any Related Company; or 
 (e) otherwise interfere with, disrupt, or attempt to interfere with or disrupt, the relationship, contractual or otherwise, between the Company or
any Related Company and any of its customers, clients, prospects, suppliers, consultants, employees, agents, or representatives. 
 3. Effect of a
Material Restatement of Financial Results — Notwithstanding anything in this Agreement to the contrary, you agree that, with respect to all RSUs granted to you on or after January 1, 2007 and all short-term incentive awards made to you
on or after January 1, 2007, to the extent the Company is required to materially restate any financial results based upon your willful misconduct or gross negligence while employed by the Company or any Related Company (and where such
restatement would have resulted in a lower payment being made to you), you will be required to repay all previously paid or deferred (i) RSUs and (ii) short-term incentive awards that were provided to you during the performance periods
that are the subject of the restated financial results, plus a reasonable rate of interest. For purposes of this section, “willful misconduct” and “gross negligence” shall be as determined by the Committee. The Audit Committee of
the Verizon Board of Directors shall determine whether a material restatement of financial results has occurred. If you do not repay the entire amount required under this section, the Company may, to the extent permitted by governing law, offset
your obligation to repay against any source of income available to it, including but not limited to any money you may have in your nonqualified deferral accounts. 
 4. Return Of Company Property; Intellectual Property Rights — You agree that on or before termination of your employment for any reason with the Company or any Related Company, you shall return to the Company all property owned
by the Company or any Related Company or in which the Company or any Related Company has an interest, including files, documents, data and records (whether on paper or in tapes, disks, or other machine-readable form), office equipment, credit cards,
and employee identification cards. You acknowledge that the Company (or, as applicable, a Related Company) is the rightful owner of, and you hereby do assign, all right, title and interest in and to any programs, ideas, inventions, discoveries,
works of authorship, data, information, patentable or copyrighted material, or trademarks that you may have originated or developed, or assisted in originating or developing, during your period of employment with the Company or a Related Company,
where any such origination or development involved the use of Company or Related Company time, information or resources, was made in the exercise of your responsibilities for or on behalf of the Company or a Related Company or was related to the
Company’s or a Related Company’s business or to the Company’s or a Related Company’s actual or demonstrably anticipated research or development. You shall at all times, both 

 
before and after termination of your employment, cooperate with the Company (or, as applicable, any Related Company) in executing and delivering documents
requested by the Company or a Related Company, and taking any other actions, that are necessary or requested by the Company or a Related Company to assist the Company or any Related Company in patenting, copyrighting, protecting, enforcing or
registering any programs, ideas, inventions, discoveries, works of authorship, data, information, patentable or copyrighted material, or trademarks, and to vest title thereto solely in the Company (or, as applicable, a Related Company). 

5. Proprietary And Confidential Information — You shall at all times, including after any termination of your employment with the Company or any Related
Company, preserve the confidentiality of all Proprietary Information (defined below) and trade secrets of the Company or any Related Company, and you shall not use for the benefit of any person, other than the Company or a Related Company, or
disclose to any person, except and to the extent that disclosure of such information is legally required, any Proprietary Information or trade secrets of the Company or any Related Company. “Proprietary Information” means any information
or data related to the Company or any Related Company, including information entrusted to the Company or a Related Company by others, which has not been fully disclosed to the public by the Company or a Related Company and which is treated as
confidential or protected within the Company or any Related Company or is of value to competitors, such as strategic or tactical business plans; undisclosed business, operational or financial data; ideas, processes, methods, techniques, systems,
models, devices, programs, computer software, or related information; documents relating to regulatory matters or correspondence with governmental entities; undisclosed information concerning any past, pending, or threatened legal dispute; pricing
or cost data; the identity, reports or analyses of business prospects; business transactions that are contemplated or planned; research data; personnel information or data; identities of users or purchasers of the Company’s or Related
Company’s products or services; the Agreement to which this Exhibit A is attached; and other non-public information pertaining to or known by the Company or a Related Company, including confidential or non-public information of a third party
that you know or should know the Company or a Related Company is obligated to protect. 
 6. Definitions — Except where clearly provided to the
contrary, all capitalized terms used in this Exhibit A shall have the definitions given to those terms in the Agreement to which this Exhibit A is attached. 
 7. Agreement to Participant’s Obligations. You shall indicate your agreement to these Participant’s Obligations in accordance with the instructions provided in the Agreement, and your acceptance of the Agreement shall
include your acceptance of these Participant’s Obligations. You and Verizon hereby expressly agree that the use of electronic media to indicate confirmation, consent, signature, acceptance, agreement and delivery shall be legally valid and have
the same legal force and effect as if you and Verizon executed these Participant’s Obligations in paper form.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00122-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00122-of-00352.parquet"}]]