Document:

Amendment to the Discounted Employee Stock Purchase Plan

 Exhibit 10.12(1) 
  
 UNITED PARCEL SERVICE, INC. 
 DISCOUNTED EMPLOYEE STOCK PURCHASE PLAN 
 AS AMENDED AND RESTATED 
 EFFECTIVE OCTOBER 1, 2002 
  
 AMENDMENT NUMBER ONE 
  
 Pursuant to authority granted by the Board of Directors of United Parcel Service, Inc., the Board hereby adopts the following amendment to the United
Parcel Service, Inc. Discounted Employee Stock Purchase Plan (the “Plan”) pursuant to Section 15 thereof, to add a new Section 12(b) to provide for a two-year holding period for any shares of Stock acquired pursuant to the Plan
and to make certain other conforming amendments effective for shares purchased in Purchase Periods beginning on or after October 1, 2005: 
  

	 	1.	The third paragraph of Section 11, Delivery of Stock, hereby is amended to add the phrase “for which the Two-year Period (as defined in § 12(b)) has
ended” to the end of the first sentence of such paragraph and to add the phrase “for which the Two-year Period has ended” to the end of the last sentence of such paragraph. 

  

	 	2.	The current text of Section 12, Transferability, hereby is renumbered as subsection (a), with a new heading “Account Balance; Exercise Right,” and
Section 12 hereby is amended to add the following new subsection (b): 

  
 (b) Shares of Stock . In addition, no shares of Stock acquired by an Eligible Employee upon the exercise of an option under this
Plan may be assigned, encumbered, alienated, transferred, pledged, or otherwise disposed of in any way (other than by will or the laws of descent and distribution) for a period of two years following such acquisition by the Eligible Employee (the
“Two-year Period”) and any attempt to do so shall be without effect. Notwithstanding the foregoing, an Eligible Employee shall have the right to request that the Administrator permit a disposition of shares of Stock prior to the end of the
Two-year Period if the Eligible Employee experiences a severe financial hardship resulting from divorce, an illness or accident of the Eligible Employee, the Eligible Employee’s spouse, or a dependent of the Eligible Employee, loss of the
Eligible Employee’s property due to casualty, or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Eligible Employee. The Administrator shall determine whether to grant the
Eligible Employee’s request and the number of shares of Stock that may be disposed of pursuant to such request. The amount of shares of Stock disposed of to alleviate the hardship shall be limited to the amount necessary to meet the hardship.

  

	 	3.	 Section 19, Withholding, hereby is amended to insert the phrase “, pursuant to a 

 
hardship request under § 12(b),” immediately following the term “Eligible Employee” and immediately prior to the phrase “prior to
the expiration of the holding periods required under Code § 423.” 
  

	 	4.	The first sentence of Section 20, Notice of Disqualifying Disposition, hereby is amended to insert the phrase “, pursuant to a hardship request under §
12(b),” immediately following the term “Eligible Employee” (the third time it appears in such sentence) and immediately prior to the phrase “disposes of any of such shares of Stock.” 

  
 IN WITNESS WHEREOF, the undersigned certifies that United Parcel Service,
Inc., based upon action by the Board dated June 3, 2005, has caused this Plan Amendment No. 1 to be adopted. 
  

					
	ATTEST:	 	 	 	 UNITEDPARCEL SERVICE, INC.

			
	/s/ Allen E. Hill	 	 	 	/s/ Michael L. Eskew
	 Allen E. Hill
 Secretary
	 	 	 	 MichaelL. Eskew
 Chairman

  

 2Performance Stock Unit Agreement 2003-2005 Award Cycle

 EXHIBIT 10j(i) 
  
 VERIZON COMMUNICATIONS INC. LONG-TERM INCENTIVE PLAN 
  
 PERFORMANCE STOCK UNIT AGREEMENT 
  
 2003-05 AWARD CYCLE 
  
 AGREEMENT between Verizon Communications Inc. (“Verizon”) and the participant identified on the attached signature page (the
“Participant”). 
  
 1. Purpose of
Agreement. The purpose of this Agreement is to provide a one-time grant of performance stock units (“PSUs”) to the Participant. 
  
 2. Agreement. This Agreement is entered into pursuant to the terms of the 2001 Verizon Communications Inc. Long-Term Incentive Plan
(the “Plan”), and evidences the grant of a performance stock award in the form of PSUs pursuant to the Plan. This Agreement is designed to comply with the requirements of Section 162(m) of the Code and the Treasury Department
Regulations thereunder. The PSUs and this Agreement are subject to the terms and provisions of the Plan. (The Participant may request a copy of the Plan from the Verizon Compensation and Executive Benefits Department.) By executing this Agreement,
the Participant agrees to be bound by the terms and provisions of the Plan, and by the actions of the Plan Administrator, the Human Resources Committee of Verizon’s Board of Directors or any successor thereto (the “Committee”), and
any designee of the Committee. 
  
 3.
Contingency. The grant of PSUs is contingent on the Participant’s timely execution of this Agreement and satisfaction of certain other conditions contained herein. If the Participant does not execute this Agreement and return it as
provided on the attached signature page within 30 business days of its receipt, the Participant shall not be entitled to the PSUs. 
  
 4. Number of Units. The Participant is granted the number of PSUs specified on the attached signature page as of February 3,
2003. A PSU is a hypothetical share of Verizon’s common stock. The value of a PSU on any given date shall be equal to the closing price of Verizon’s common stock as of such date. A PSU 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 PSU 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 PSUs or fractions thereof based upon the average of the high and low sales prices 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 PSUs or fractions thereof shall be added to the Participant’s PSU balance. 
  

					
	 Performance Stock Unit Agreement (2003-05)
	  	 	  	Page 1

 5. Vesting. 
  
 (a) The Participant shall vest in the PSUs to the extent provided in paragraph 5(b)
(“Performance Requirement”) only if the Participant satisfies the requirements of paragraph 5(c) (“Three-Year Continuous Employment Requirement”), except as otherwise provided in paragraph 7 (“Early Cancellation/Accelerated
Vesting of PSUs”). 
  
 (b)
Performance Requirement. 
  
 (1) The PSUs shall vest based on the average annual total shareholder return (“TSR”) of Verizon’s Common Stock during the three-year period beginning January 1, 2003, and ending December 31, 2005, relative to the
combined weighted average annual TSR of the companies in the Standard & Poor’s 500 (“S&P 500”) Index and the companies in the Telecom Peer Company (“TPC”) Index during the same three-year period as provided in
the following table— 
  

			
	 Relative TSR Position
	 	Vested Percentage of PSUs *
	 Below 20%
	 	0%
	 20%
	 	40%
	 30%
	 	60%
	 40%
	 	80%
	 50%
	 	100%
	 60%
	 	120%
	 70%
	 	140%
	 80% or more
	 	200%

 *For amounts between 20% and 80%, the vested percentage of PSUs shall equal twice
the Relative TSR Position (e.g., a Relative TSR Position of 52% equals a 104% vested percentage). However, the Committee’s discretion to administer the Plan includes the absolute discretion to reduce the vested percentage of PSUs at any
Relative TSR Position, and the Committee’s exercise of this discretion shall be final, conclusive and binding. Note: No PSUs shall vest if the Relative TSR Position is less than 20% and the maximum percentage of PSUs to vest shall be
200%. 
  
 (2) For purposes of the
table set forth in paragraph 5(b)(1)— 
  
 (i) “Relative TSR Position” shall equal (A) 60% of the average annual Verizon S&P 500 TSR Position during the Award Cycle, plus (B) 40% of the average annual Verizon TPC TSR Position during the
Award Cycle. The Committee’s discretion to 
  

					
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 administer the Plan includes the absolute discretion to substitute or eliminate
companies in the Telecom Peer Index and determine the Relative TSR Position for any period, and the Committee’s exercise of this discretion shall be final, conclusive and binding. 
  
 (ii) “Verizon S&P 500 TSR Position” shall be, as determined by the Committee,
Verizon’s rank among companies in the S&P 500 Index in terms of TSR, expressed as a percentage equal to the number of companies in the S&P 500 Index with a TSR less than or equal to that of Verizon divided by the total number of
companies in such index. 
  
 (iii) “Verizon TPC TSR Position” shall be, as determined by the Committee, where Verizon would rank among companies in the Telecom Peer Company Index in terms of TSR if Verizon were included in such index, expressed as a
percentage equal to the number of companies in the TPC Index with a TSR less than or equal to that of Verizon divided by the total number of companies in such index. 
  
 (iv) “TSR” or “Total Shareholder Return” shall mean the change in the
price of a share of common stock from the beginning of a period (as measured by the closing price of a share of such stock on the last trading day preceding the beginning of the period) until the end of such period (as measured by the closing price
of a share of such stock on the last trading day of the period), adjusted to reflect the reinvestment of dividends (if any) through the purchase of common stock and as may be necessary to take into account stock splits or other events similar to
those described in Section 4.3 of the Plan. 
  
 (v) “Award Cycle” shall mean the three-year period beginning on January 1, 2003 and ending at the close of business on December 31, 2005. 
  
 (c) Three-Year Continuous Employment
Requirement. Except as otherwise determined by the Committee, the PSUs shall vest only if the Participant is continuously employed by Verizon from the date the PSUs are granted through the end of the Award Cycle. 
  
 (d) 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 Verizon for purposes of the three-year continuous employment requirement in paragraph 5(c). 
  

					
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 6. Payment. All payments under this Agreement shall be made in shares of
Verizon’s Common Stock, except for any fractional shares, which shall be paid in cash. As soon as practicable after the end of the Award Cycle, except as described in paragraph 7(c), the value of the PSUs (minus any withholding for income
taxes) shall be paid to the Participant (subject, however, to any deferral application that the Participant has made under the deferral plan then available to the Participant and under procedures adopted by the Plan Administrator). If the
Participant dies before any payment due hereunder is made, such payment shall be made to the Participant’s beneficiary. Once a payment has been made with respect to a PSU, the PSU shall be canceled. 
  
 7. Early Cancellation/Accelerated Vesting of PSUs.
Subject to the provisions of paragraph 7(c), PSUs may vest or be forfeited before vesting in accordance with paragraph 5 as follows: 
  
 (a) Voluntary Separation and Discharge for Cause.  
  
 (1) If the Participant is not eligible to Retire (as defined in paragraph 7(b)(5)) and
quits, if the Participant is terminated for Cause (as defined below), or if the Participant separates from employment under circumstances not described in paragraph 7(b), all then-unvested PSUs 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 Code of Business Conduct or any provision incorporated in Exhibit A (“Covenants”) to this Agreement, all as determined by the Plan Administrator in its discretion, or (ii) commission of any felony
of which the Participant is finally adjudged guilty by a court of competent jurisdiction. 
  
 (b) Retirement, Involuntary Termination Without Cause, Death or Disability. 
  
 (1) This paragraph 7(b) shall apply if, on
or before the last day of the Award Cycle, the Participant— 
  
 (i) Retires, or 
  
 (ii) separates from employment by reason of an involuntary termination without Cause (as determined by the Plan Administrator), death or disability. 
  
 (2) Subject to paragraph 7(b)(3), if the
Participant separates from employment under circumstances described in paragraph 7(b)(1), the Participant’s then-unvested PSUs shall be subject to the vesting 
  

					
	 Performance Stock Unit Agreement (2003-05)
	  	 	  	Page 4

 provisions set forth in paragraph 5(a), except that the three-year continuous employment
requirement set forth in paragraph 5(c) shall not apply, provided that the Participant executes a release satisfactory to the Company waiving any claims he may have against the Company. 
  
 (3) The Participant shall vest under this paragraph 7(b) only in a percentage of the PSUs
that would otherwise have vested based upon the ratio of (i) the number of months the Participant was actively at work during the Award Cycle to (ii) the total number of months in the Award Cycle. For this purpose, a Participant who is
actively at work through and including the 15th day of any month shall receive credit for the full month, and a
Participant who is not actively at work through and including the 15th day of the month shall not receive any credit
for that month. 
  
 (4) Any PSUs
that vest pursuant to this paragraph 7(b)(3) shall be payable as soon as practicable after the end of the Award Cycle, except as described in paragraph 7(c). However, the Plan Administrator’s discretion to administer the Plan includes the
absolute 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, and the Plan Administrator’s exercise of
this discretion shall be final, conclusive and binding. 
  
 (5) 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 Plan Administrator. 
  
 (c) Change in Control. Upon the occurrence of a Change in Control (as defined in the
Plan) on or before the last day of the Award Cycle, all then-unvested PSUs shall vest and be payable immediately (without prorating of the award) at 50% of the maximum award payout without regard to the performance requirement in paragraph 5(b) or
the three-year continuous employment requirement in paragraph 5(c); provided, however, that if the Participant terminates employment before the Change in Control occurs under the circumstances described in paragraph 7(b)(3), the immediately payable
award described in this sentence shall be prorated as described in paragraph 7(b)(3). A Change in Control that occurs after the end of the Award Cycle shall have no effect on whether any PSUs 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 dividends declared before the Change in Control, even if such dividends are paid or payable after the Change in Control. 
  

					
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 (d) Vesting Schedule. Except as provided in paragraphs 7(b) and
(3), 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 until the date on which the Participant
becomes the holder of record of such shares. 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 is prior to such date. 
  
 9. Revocation or Amendment of Agreement. Except to the
extent required by law or specifically contemplated under this Agreement (including, but not limited to, the determination of Relative TSR Position, Verizon S&P 500 TSR Position, and Verizon TPC TSR Position, and whether the Participant has been
terminated for Cause, has a disability, or has satisfied the three-year continuous employment requirement), the Committee may not, without the written consent of the Participant, (a) revoke this Agreement insofar as it relates to the PSUs
granted hereunder, or (b) make or change any determination or change any term, condition or provision affecting the PSUs if the determination or change would materially and adversely affect the PSUs or the Participant’s rights thereto.
Nothing in the preceding sentence shall preclude the Committee from exercising reasonable administrative discretion with respect to the Plan or this Agreement. 
  

10. Assignment. The PSUs shall not be assignable or transferable except by will or by the laws of descent and distribution.
During the Participant’s lifetime, the PSUs may be deferred only by the Participant or by the Participant’s guardian or legal representative. 
  
 11. Beneficiary. The Participant shall designate a beneficiary in writing and in such manner as is acceptable to the Plan
Administrator. 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 gain realized 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, or other benefit plan maintained by Verizon or a Related
Company, except as determined by the board of directors of such company. The Participant acknowledges that receipt of this Agreement or any prior PSU agreement shall not entitle the Participant to any other benefits under the Plan or any other plans
maintained by the Company. 
  
 13. Company and
Related Company. For purposes of this Agreement, “Company” means Verizon and Related Companies. “Related Company” means (a) any 
  

					
	 Performance Stock Unit Agreement (2003-05)
	  	 	  	Page 6

 corporation, partnership, joint venture, or other entity in which Verizon hold 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 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 PSUs shall not be deemed to constitute a contract of employment between the Company and the Participant, nor shall it constitute a right to remain
in the employ of any such company. 
  
 15.
Taxes. It shall be a condition to the issuance or delivery of shares of common stock as to which the PSUs relate that provisions satisfactory to the Company shall have been made for payment of any taxes determined by the Company to be
required to be paid or withheld pursuant to any applicable law or regulation. The Participant shall be responsible for any income taxes and the employee portion of any employment taxes that arise in connection with this grant of PSUs. 
  
 16. Securities Laws. The Company shall not be required
to issue or deliver 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 sole 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 sole discretion and shall be final, conclusive, and binding. 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 PSUs 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 such last-mentioned person or entity. 
  
 19. Construction. This Agreement is intended to grant the PSUs 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 by a court of competent jurisdiction, 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 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. 
  

					
	 Performance Stock Unit Agreement (2003-05)
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 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 and the Plan by executing the
attached signature page which is made a part of this Agreement and otherwise complying with the requirements of paragraph 3. 
  
 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 to the Participant’s legal, tax, or financial adviser, provided that the
Participant take all reasonable measures to assure that he or she does not disclose the terms of this Agreement to a third party except as otherwise required by law. 
  
 23. Additional Remedies. 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 covenants incorporated in Exhibit A
to this Agreement are essential to the continued good will 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 covenants incorporated 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 covenants incorporated in Exhibit A; 
  
 (d) Irreparable damage to the Company shall
result in the event that the covenants incorporated in Exhibit A are not specifically enforced and that monetary damages will not adequately protect the Company from a breach of these covenants; 
  
 (e) If any dispute arises concerning the
violation by the Participant of the covenants incorporated 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;

  

					
	 Performance Stock Unit Agreement (2003-05)
	  	 	  	Page 8

 (f) Such covenants shall continue to apply after any expiration,
termination, or cancellation of this Agreement; and 
  
 (g) The Participant’s breach of any of such covenants shall result in the Participant’s immediate forfeiture of all rights and benefits under this Agreement. 
  

					
	 Performance Stock Unit Agreement (2003-05)
	  	 	  	Page 9

 SIGNATURE PAGE 
  
 By executing this page, the undersigned Participant agrees to be bound by the terms of the 2001 Verizon Communications Inc.
Long-Term Incentive Plan and the Performance Stock Unit Agreement (2003-05 Award Cycle), the terms of which are incorporated herein by reference, in connection with the following grant to the Participant under the Plan: 
  

			
	 NAME OF PARTICIPANT:
	 	 
	 SOCIAL SECURITY
NUMBER:
	 	 
	 NUMBER OF
PSUs:
	 	 

  
 IN WITNESS WHEREOF,
Verizon Communications Inc., by its duly authorized Officer, and the Participant have executed this Agreement. 
  

			
	 VERIZON COMMUNICATIONS INC.

		
	 By:
	 	

	 	 	 Ezra D. Singer

	 	 	 Executive Vice President -

	 	 	 Human Resources

		
	 	 	

	 	 	 Participant

		
	 	 	

	 	 	 Date

  
 Please indicate
your acceptance by signing above and returning the signed Agreement to the Compensation and Executive Benefits Department at 1095 Avenue of the Americas, 34th Floor, New York, New York 10036 within thirty business days of your receipt of this Agreement. 
  
 Attachment: Exhibit A - Covenant 
  

					
	 Performance Stock Unit Agreement (2003-05)
	  	 	  	Page 10

	
	Exhibit A—Covenants

  
 1. Noncompetition
— In consideration for the benefits described in the Agreement to which this Exhibit A is attached, you, the Participant, agree that: 
  
 (a) Prohibited Conduct — During the period of your employment with the Company, and for the period ending six months after
your termination of employment for any reason from the Company, you shall not, without the prior written consent of the Plan Administrator: 
  

	 	(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 individual, partnership, firm, corporation, or institution 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 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, or institution engaged in Competitive Activities, or any company or person affiliated with such person or entity engaged in Competitive Activities, or (ii) engaging in the
private practice of law as a sole practitioner or as a partner in (or as an employee of or counsel to) a law firm in accordance with applicable legal and professional standards. 
  
 (b) Competitive Activities — For purposes of the Agreement to which this Exhibit A is attached,
“Competitive Activities” means business activities relating to products or services of the same or similar type as the products or services (1) which are sold (or, pursuant to an existing business plan, will be sold) to paying
customers of the Company, and (2) for which you then 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. Notwithstanding the
previous sentence, a business activity shall not be treated as a Competitive Activity if the geographic marketing area of the relevant products or services sold by you or a third party does not overlap with the geographic marketing area for the
applicable products and services of the Company. 
  
 2.
Interference With Business Relations — During the period of your employment with the Company, and for a period ending with the expiration of twelve (12) months following your termination of employment for any reason from the Company,
you shall not, without the written consent of the Plan Administrator: 
  
 (a) recruit or solicit any employee of the Company for employment or for retention as a consultant or service provider; 
  

(b) hire or participate (with another company or third party) in the process of hiring (other than for the Company) any person
who is then an employee of the Company, or provide names or other information about Company employees to any person, entity or business (other than the Company) under circumstances that could lead to the use of any such information for purposes of
recruiting or hiring; 
  
 (c) interfere
with the relationship of the Company with any of its employees, agents, or representatives; 
  
 (d) solicit or induce, or in any manner attempt to solicit or induce, any client, customer, or prospect of the Company (1) to cease being, or not to become, a customer of the Company
or (2) to divert any business of such customer or prospect from the Company; or 
  
 (e) otherwise interfere with, disrupt, or attempt to interfere with or disrupt, the relationship, contractual or otherwise, between the Company and any of its customers, clients,
prospects, suppliers, consultants, or employees. 
  
 3. Return
Of Property; Intellectual Property Rights — You agree that on or before your termination of employment for any reason with the Company, you shall return to the Company all property owned by the Company or in which the 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 is the rightful owner
of any programs, ideas, inventions, discoveries, patented 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, where any such
origination or development involved the use of Company time, information or resources, or the exercise of your responsibilities for or on behalf of the Company. You shall at all times, both before and after termination of employment, cooperate with
the Company in executing and delivering documents requested by the Company, and taking any other actions, that are necessary or requested by the Company to assist the Company in patenting, copyrighting, protecting, enforcing or registering any
programs, ideas, inventions, discoveries, works of authorship, data, information, patented or copyrighted material, or trademarks, and to vest title thereto solely in the Company. 
  
 4. Proprietary And Confidential Information — You shall at all times preserve the confidentiality of all
Proprietary Information (defined below) and trade secrets of the Company, except and to the extent that disclosure of such information is legally required. “Proprietary information” means information or data related to the Company,
including information entrusted to the Company by others, which has not been fully disclosed to the public by the Company and which is treated as confidential or protected within the business of the Company or is of value to competitors, such as
strategic or tactical business plans; undisclosed financial data; ideas, processes, methods, techniques, systems, non-public information, models, devices, programs, computer software, or related information; documents relating to regulatory matters
and correspondence with governmental entities; undisclosed information concerning any past, pending, or threatened legal dispute; pricing and cost data; reports and analyses of business prospects; business transactions that are contemplated or
planned; research data; personnel information and data; identities of users and purchasers of the Company’s products or services; and other confidential matters pertaining to or known by the Company, including confidential information of a
third party that you know or should know the Company is obligated to protect. 
  
 5. 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. 
  
 6. Agreement to Covenants. You shall indicate
your agreement to these Covenants in accordance with the instructions provided. 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 Covenants in paper form. 
  
  

					
	 Performance Stock Unit Agreement (2003-05)
	  	 	  	Exhibit A

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