Document:

RESTRICTED STOCK UNIT AGREEMENT

 Exhibit 10b 
 VERIZON COMMUNICATIONS INC. LONG-TERM INCENTIVE PLAN 
 RESTRICTED STOCK
UNIT AGREEMENT 
 2011–13 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 2009 Verizon Communications Inc. Long-Term Incentive Plan (the
“Plan”), and evidences the grant of a restricted stock unit award in the form of RSUs pursuant to the Plan. In consideration of the benefits described in this Agreement, which Participant acknowledges are good, valuable and sufficient
consideration, the Participant agrees to comply with the terms and conditions of this Agreement, including the participant’s obligations and restrictions set forth in Exhibit A to this Agreement (the “Participant’s Obligations”),
which 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, including but not limited to the Participant’s Obligations. 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. Acceptance shall be through execution of the Agreement as set forth in paragraph 21. If the Participant does not accept this Agreement by the close of
business on May 31, 2011, the Participant shall not be entitled to this grant of RSUs regardless of the extent to which the requirements in paragraph 5 (“Vesting”) are satisfied. In addition, to the extent a Participant is on a
Company approved leave of absence, including but not limited to short-term disability leave, at the time this grant of RSUs is accepted by the Participant, he or she will not be entitled to this grant of RSUs until such time as he or she returns to
active employment with Verizon or a Related Company (as defined in paragraph 13). 
 4. Number of Units. The Participant is granted the
number of RSUs as specified in the Participant’s account under the 2011 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 (“NYSE”) as of such date. 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 corresponding 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 NYSE 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 error, including but not limited to an administrative error with respect to the number or value of the RSUs granted to the Participant under this Agreement, the DEUs credited to the
Participant’s account or the amount of the final award payment, 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 Fidelity. 

 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, 2011, and ending at the close of business on December 31, 2013. 

(b) Effect of a Termination for Cause. Notwithstanding Section 5(a) or Section 7, if the Participant’s employment
by the Company or a Related Company is terminated by the Company or a Related Company for Cause at any time prior to the date that the RSUs are paid pursuant to Section 6, the RSUs (whether vested or not) shall automatically terminate and be
cancelled as of the applicable termination date without payment of any consideration by the Company and without any other action by the Participant. 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; or a material breach of the Verizon Code of Conduct (as may be amended) or any of the
Participant’s Obligations, 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. 
 (c) Transfer. Transfer of employment from Verizon to a Related Company,
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 the Participant transfers employment pursuant to this paragraph 5(c), the Participant 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 shares of Verizon common stock, except for any fractional shares, which shall be paid in cash. Subject to Section 5(b), as soon as practicable after the end of the Award Cycle (but in no event
later than March 15, 2014), the number of shares 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 number of shares that shall be paid (plus withholding for taxes and any applicable deferral amount) shall equal the number of vested RSUs. 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; however, all other terms of the Agreement, including but not limited to the
Participant’s Obligations, shall remain in effect. 
 7. Early Cancellation/Accelerated Vesting of RSUs. Subject to the provisions
of paragraph 5, RSUs may vest or be forfeited before the end of the Award Cycle as follows: 
 (a) Retirement Before
July 1, 2011, Voluntary Separation On or Before December 31, 2013, or Other Separation Not Described in Section 7(b). If the Participant (i) Retires (as defined in paragraph 7(b)(4)) before July 1, 2011,
(ii) voluntarily separates from employment on or before December 31, 2013 for any reason other than Retirement, or (iii) otherwise separates from employment on or before December 31, 2013 under circumstances not described in
paragraph 7(b), 

 
all then-unvested RSUs shall automatically terminate and be cancelled as of the applicable termination date without payment of any consideration by the Company and without any other action by the
Participant. 
 (b) Retirement After June 30, 2011, Involuntary Termination Without Cause On or Before December 31,
2013, Termination Due to Death or Disability On or Before December 31, 2013. 
 (1) This paragraph 7(b) shall apply if
the Participant: 
 (i) Retires (as defined below) after June 30, 2011, 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 December 31, 2013. “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 on
or before December 31, 2013 under circumstances described in paragraph 7(b)(1), the Participant’s then-unvested RSUs shall vest (without prorating the award) 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, within the time prescribed by Verizon, a release satisfactory to
Verizon waiving any claims he or she may have against Verizon and any Related 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, 2014). 
 (4) For purposes of this Agreement, “Retire” and “Retirement” means: (i) to retire after having attained at least 15 years of vesting service (as defined under the applicable
Verizon tax-qualified 401(k) savings plan) and a combination of age and years of vesting 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) in this paragraph, the retirement was not occasioned by a discharge for Cause. Notwithstanding the preceding sentence, if the Participant
is employed in the United Kingdom, “Retire” or “Retirement” shall mean: (A) subject to applicable law, a termination of employment on the grounds of age, provided that the Participant has attained at least age 65; or
(B) 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 (A) or (B) in this paragraph, the
retirement was not occasioned by a discharge for Cause. 
 (c) Change in Control. If a Participant is involuntarily
terminated without Cause within twelve (12) months following the occurrence of a Change in Control of Verizon (as defined in the Plan), all then-unvested RSUs shall vest and become payable (without prorating the award) without regard to the
three-year continuous employment requirement in paragraph 5(a); however, all other terms of the Agreement, including but not limited to the Participant’s Obligations, shall remain in effect. A Change in Control or an involuntary termination
without Cause that occurs after the end of the Award Cycle shall have no effect on whether any RSUs vest or become payable under this paragraph 7(c). All payments provided in this paragraph 7(c) shall be made at their regularly scheduled time as
specified in paragraph 6. 

 (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 the RSUs until the date on which the Participant becomes the holder of record with respect to any shares of Verizon 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 have a material adverse effect upon the RSUs or the Participant’s 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 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 errors, including but not limited to any administrative errors, and determining whether the Participant has been discharged for Cause, has a
disability, has Retired, has breached any of the Participant’s Obligations or has satisfied the requirements for vesting and payment under paragraphs 5 and 7 of this Agreement. 
 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, life insurance, severance or other benefit plan maintained by Verizon or a Related Company. The Participant acknowledges that 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 a direct or indirect 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 acknowledges that he or she 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
described in paragraph 9. The Committee and the Audit Committee may designate any individual or individuals to perform any of its functions hereunder and utilize experts to assist in carrying out their duties 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. 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 his or her consent and acknowledgment to the terms of this Agreement (including the
Participant’s Obligations) 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 may deliver all documents, statements and notices associated with the Plan and this Agreement 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 the Participant’s Obligations) 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 140 West Street, 29th Floor, New York, New York 10007 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, sent by overnight carrier, 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 or related to the Plan or this
Agreement and all claims in which a Participant seeks damages or other relief that relate in any way to RSUs or other benefits of the Plan are subject to the dispute resolution procedure described below in this paragraph 25. 

(i) For purposes of this Agreement, the term “Units Award Dispute” shall mean any claim against the Company or a Related
Company, other than Employment Claims described in paragraph (a)(ii) below, 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 or this Agreement; provided, however, that any dispute relating to the Participant’s Obligations or to the forfeiture of an award as a result of a breach of any of
the Participant’s Obligations 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 claims between the Participant and the Company or a Related Company (or against the past or present
directors, officers, employees, representatives, or agents of the Company or a Related Company, whether acting in their capacity as such or otherwise), that are related in any way to the Participant’s employment or former employment, 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 or other relief sought relate in any way to RSUs or other benefits of the Plan or this Agreement. 

(b) Internal Dispute Resolution Procedure. All Units Award Disputes, and all Units Damages Dispute alleging breach of contract,
tort, or public policy claims with respect to the Plan or this Agreement (collectively, “Plan 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 Plan 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, all decisions relating to the enforceability of the limitations period
contained herein shall be made by the arbitrator. 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 Plan Disputes brought under this
Plan and Agreement. Determinations made by the EB Committee shall be final, conclusive and binding, subject only to review by arbitration pursuant to paragraph (c) below under the arbitrary and capricious standard of review. 

(c) Arbitration. All appeals from determinations by the EB Committee as described in paragraph (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, except where a longer limitations period is required by applicable law. Decisions about the applicability of the limitations period contained herein shall be made by the arbitrator. 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 in
writing 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, may also be raised in such arbitration proceedings. 

(i) The arbitrator shall have the authority to determine 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 (except for breaches of any of the Participant’s Obligations), 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 Plan Dispute shall be upheld unless such decision was arbitrary or capricious. The
decision of the arbitrator shall be final, conclusive, not subject to appeal, 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 (except for breaches of any of the Participant’s Obligations), and that the sole forum available for the resolution of Units Award Disputes and Units Damages Disputes
is arbitration as provided in this paragraph 25. If an arbitrator or court finds that the arbitration provisions of this Agreement are not enforceable, both Participant and the Company or a Related Company understand and agree to waive their right
to trial by jury of any Units Award Dispute or Units Damages Dispute. 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 and in aid of 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 paragraph (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. All other fees incurred in connection with the arbitration proceedings, including but not limited to each party’s attorney’s fees, will be the responsibility of such party. 

(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) The Federal Arbitration Act (“FAA”) shall govern the enforceability of this paragraph 25. If for any
reason the FAA is held not to apply, or if application of the FAA requires consideration of state law in any dispute arising under this Agreement or subject to this dispute resolution provision, the laws of the State of New York shall apply without
giving effect to the conflicts of laws provisions thereof. 
 (vi) To the extent an arbitrator determines that the Participant
was not terminated for Cause and is entitled to the RSUs or any other benefits under the Plan pursuant to the provisions applicable to an involuntary termination without Cause, the Participant’s obligation to execute a release satisfactory to
Verizon as provided under paragraph 7(b)(2) shall remain applicable in order to receive the benefit of any RSUs pursuant to this Agreement. 

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 or to involuntarily terminate the
Participant without Cause), the Participant acknowledges that— 
 (a) The Participant’s Obligations are essential to
the continued goodwill and profitability of the Company and any Related Company; 
 (b) The Participant has broad-based skills
that will serve as the basis for other employment opportunities that are not prohibited by the Participant’s Obligations; 

(c) When the Participant’s employment with the Company or any Related Company terminates, the Participant shall be able to earn a
livelihood without violating any of the Participant’s Obligations; 
 (d) Irreparable damage to the Company or any Related
Company shall result in the event that the Participant’s Obligations are not specifically enforced and that monetary damages will not adequately protect the Company or any Related 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, 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 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 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, including their interpretation and enforceability and any damages (including but not limited to damages resulting in the forfeiture of an
award or benefits 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	  	

 As part of the Agreement to which this Exhibit A is attached, you, the Participant, agree to the following
obligations: 
 1. Noncompetition — 
 (a) Prohibited Conduct — 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 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, partnership, firm, corporation, institution or other 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 person,
partnership, firm, corporation, institution or other entity engaged in Competitive Activities, or any person or entity affiliated with such person, 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. Exception (ii),
however, does not apply to any Participant that may be engaging in Competitive Activities or providing services to any person, partnership, firm, corporation, institution or other entity engaged in Competitive Activities, wherein such engagement or
services being provided are not solely the practice of law. 
 (b) Competitive Activities — For purposes of the
Agreement, to which this Exhibit A is attached, “Competitive Activities” means any 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 any direct or indirect responsibility or any involvement to plan, develop, manage, market, sell, oversee, support,
implement or perform, or had any such responsibility or involvement 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 such same or similar 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 prior written consent of the Executive Vice President – Human Resources of Verizon (or his or her designee): 
 (a) recruit, induce or solicit, directly or indirectly, any employee of the Company or Related Company for employment or for retention as a consultant or service provider to any person or entity;

 (b) hire or participate (with another person or entity) in the process of recruiting, soliciting or hiring, directly
or indirectly, (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, directly or indirectly, names or other information about any employees of the Company or Related
Company to any person or entity (other than to the Company or any Related Company) under circumstances that could lead to the use of any such information for purposes of recruiting, soliciting or hiring any such employee for any person or entity;

 (c) interfere, or attempt to interfere, directly or indirectly, with any 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, directly or indirectly, 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; Recoupment 

(a) General. 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 or any Related 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 paragraph, “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 paragraph, the Company may, to the extent permitted by applicable 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. 
 (b) Requirements of Recoupment Policy or Applicable Law. The repayment rights
contained in paragraph 3(a) of Exhibit A shall be in addition to, and shall not limit, any other rights or remedies that the Company may have under law or in equity, including, without limitation, (i) any right that the Company may have under
any Company recoupment policy that may apply to you, or (ii) any right or obligation that the Company may have regarding the clawback of “incentive-based compensation” under Section 10D of the Securities Exchange Act of 1934, as
amended (as determined by the applicable rules and regulations promulgated thereunder from time to time by the U.S. Securities and Exchange Commission) or under any other applicable law. By accepting this award of RSUs, you

 
agree and consent to the Company’s application, implementation and enforcement of any such Company recoupment policy (as it may be in effect from time to time) that may apply to you and any
provision of applicable law relating to cancellation, rescission, payback or recoupment of compensation and expressly agree that the Company may take such actions as are permitted under any such policy (as applicable to you) or applicable law, such
as the cancellation of RSUs and repayment of amounts previously paid or deferred with respect to any previously granted RSUs or short-term incentive awards, without further consent or action being required by you. 

4. Return Of Company Property; Ownership of 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 or to which the Company or any Related Company
has any obligation, including any and all files, documents, data, records and any other non-public information (whether on paper or in tapes, disks, memory devices, 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 grant and assign, all right, title and interest in and to any programs; ideas, inventions and discoveries
(patentable or unpatentable); works of authorship, data, information, and other copyrightable material; and trademarks that you may have originated, created or developed, or assisted or participated in originating, creating or developing, during
your period of employment with the Company or a Related Company, including all intellectual property rights in or based on the foregoing, where any such origination, creation or development (a) involved any use of Company or Related Company
time, information or resources, (b) was made in the exercise of any of your duties or responsibilities for or on behalf of the Company or a Related Company, or (c) was related to (i) the Company’s or a Related Company’s
past, present or future business, or (ii) the Company’s or a Related Company’s actual or demonstrably anticipated research, development or procurement activities. You shall at all times, both before and after termination of your
employment, cooperate with the Company (or, as applicable, any Related Company) and its representatives 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, registering, or enforcing any programs; ideas, inventions and discoveries (patentable or unpatentable); works of
authorship, data, information, and other copyrightable material; trademarks; or other intellectual property rights, 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 yourself or 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, which
is treated as confidential or otherwise 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; information concerning any past, pending, or threatened legal dispute;
pricing or cost data; the identity, reports or analyses of business prospects; business transactions (including those that are contemplated or planned); research data; personnel information or data; identities of suppliers to the Company or any
Related Company or users or purchasers of the Company’s or Related Company’s 

 
products or services; the Agreement to which this Exhibit A is attached; and any 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 or as otherwise defined in this Exhibit A, 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. As stated in paragraph 21 of the Agreement, 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.Exhibit 10.1

 Exhibit 10.1 
 REASSIGNMENT NO. 9 OF RECEIVABLES IN REMOVED ASSET POOL ONE ACCOUNTS 

REASSIGNMENT NO. 9 OF RECEIVABLES IN REMOVED ASSET POOL ONE ACCOUNTS (this “Reassignment”), dated as of April 27, 2011, by
and between CHASE ISSUANCE TRUST, (the “Trust”) and WELLS FARGO BANK, NATIONAL ASSOCIATION (the “Collateral Agent”), pursuant to the Asset Pool One Supplement referred to below. 

W I T N E S S E T H: 

WHEREAS, the Trust and the Collateral Agent are parties to the Second Amended and Restated Asset Pool One Supplement, dated as of
December 19, 2007, to the Third Amended and Restated Indenture, dated as of December 19, 2007, (hereinafter as such agreement may have been, or may from time to time be, amended, supplemented or otherwise modified, the “Asset Pool One
Supplement”); 
 WHEREAS, pursuant to the Asset Pool One Supplement, the Trust wishes to remove from Asset Pool One all
Asset Pool One Receivables in certain designated Asset Pool One Accounts (the “Removed Asset Pool One Accounts”) and to cause the Collateral Agent to reassign the Asset Pool One Receivables of such Removed Asset Pool One Accounts, whether
now existing or hereafter created, from the Collateral Agent to the Trust; and 
 WHEREAS the Collateral Agent is willing to
accept such designation and to reconvey the Asset Pool One Receivables in the Removed Asset Pool One Accounts subject to the terms and conditions hereof; 
 NOW, THEREFORE, the Owner Trustee, on behalf of the Trust, and the Collateral Agent hereby agree as follows: 
  

	1.	Defined Terms. All terms defined in the Asset Pool One Supplement and the Third Amended and Restated Transfer and Servicing Agreement, dated as of
December 19, 2007, as amended by the First Amendment to the Third Amended and Restated Transfer and Servicing Agreement, dated as of May 8, 2009, and used herein shall have such defined meanings when used herein, unless otherwise defined
herein. 

 “Removal Cut Off Date” shall mean, with respect to the Removed Asset
Pool One Accounts, March 31, 2011. 

  
 1 

 “Removal Date” shall mean, with respect to the Removed Asset Pool One
Accounts designated hereby, April 27, 2011. 
 “Removal Notice Date” shall mean, with respect to the
Removed Asset Pool One Accounts, April 20, 2011. 
  

	2.	Designation of Removed Asset Pool One Accounts. No later than five Business Days after the Removal Date, or as otherwise agreed upon between the Trust and the
Collateral Agent, the Trust will deliver to the Collateral Agent a computer file containing a true and complete list of all Removed Asset Pool One Accounts identified by account number and the aggregate amount of Asset Pool One Principal Receivables
in each Removed Asset Pool One Account as of the Removal Cut Off Date, which computer file shall as of the Removal Date modify and amend and be made part of the Asset Pool One Supplement. 

 

	3.	Conveyance of Receivables. The Collateral Agent does hereby reassign to the Trust, without recourse, on and after the Removal Date, all right, title and interest
of the Collateral Agent in, to and under the Asset Pool One Receivables now existing and hereafter created from time to time in the Removed Asset Pool One Accounts identified on Schedule 1 to this Reassignment, all Interchange and Recoveries
related thereto, all monies due or to become due (including all Asset Pool One Finance Charge Collections) and all amounts received or receivable with respect thereto and all proceeds (as defined in the UCC as in effect in the applicable
jurisdiction) thereof (the “Removed Collateral”). 

  

	4.	Conditions Precedent. The reassignment hereunder of the Asset Pool One Receivables in the Removed Asset Pool One Accounts and the amendment of the Asset Pool One
Supplement pursuant to Section 7 of this Reassignment are each subject to the satisfaction, on or prior to the Removal Date, of the conditions set forth in Section 2.5(b) of the Asset Pool One Supplement. 

 

	5.	Representations and Warranties. The Trust hereby represents and warrants to the Collateral Agent as of the Removal Date: 

 

	 	(a)	 Legal Valid and Binding Obligation. This Reassignment constitutes a legal, valid and binding obligation of the Trust enforceable against the
Trust, in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws now or hereafter in effect affecting the enforcement of creditors’ rights
in general and except as such 

  
 2 

	 	 
enforceability may be limited by general principles of equity (whether considered in a suit at law or in equity); and 

 

	 	(b)	List of Removed Asset Pool One Accounts. The list of Removed Asset Pool One Accounts is and will be true and complete in all material respects when delivered
pursuant to subsection 2.5(b)(ii) of the Asset Pool One Supplement. 

  

	6.	Representations and Warranties of the Servicer. No selection procedures believed by the Servicer to be materially adverse to the interests of the Noteholders
were utilized in selecting the Removed Asset Pool One Accounts to be removed from the Trust and either (I) a random selection procedure was used by the Servicer in selecting the Removed Asset Pool One Accounts and only one such removal of
randomly selected Asset Pool One Accounts shall occur in the then current Monthly Period, (II) the Removed Asset Pool One Accounts arose pursuant to an affinity, private-label, agent-bank, co-branding or other arrangement with a third party that has
been cancelled by such third party or has expired without renewal and which by its terms permits the third party to repurchase the Removed Asset Pool One Accounts subject to such arrangement, upon such cancellation or non-renewal and the third party
has exercised such repurchase right or (III) the Removed Asset Pool One Accounts were selected using another method that will not preclude transfers from being accounted for as sales under generally accepted accounting principles or prevent the
Trust from continuing to qualify as a qualifying special purpose entity in accordance with SFAS No. 140. 

  

	7.	Amendment of the Asset Pool One Supplement. The Asset Pool One Supplement is hereby amended to provide that all references therein to the “Asset Pool One
Supplement,” to “this Asset Pool One Supplement” and “herein” shall be deemed from and after the Removal Date to be a dual reference to the Asset Pool One Supplement as supplemented by this Reassignment. All references
therein to the Asset Pool One Accounts shall be deemed not to include the Removed Asset Pool One Accounts designated hereunder and all references to Asset Pool One Receivables shall be deemed not to include the Asset Pool One Receivables reassigned
hereunder. Except as expressly amended hereby, all of the representations, warranties, terms, covenants and conditions of the Asset Pool One Supplement shall remain unamended and shall continue to be, and shall remain, in full force and effect in
accordance with its terms and except as expressly provided herein shall not constitute or be deemed to constitute a waiver of compliance with or a consent to noncompliance with any term or provision of the Asset Pool One Supplement.

  
 3 

	8.	Release. 

  

	 	(a)	The Collateral Agent hereby expressly terminates, relinquishes, releases, discharges and renders ineffective any and all security interests, liens, mortgages and
encumbrances, as against the Trust, any transferee of the Trust and any person claiming title to or an interest in the Removed Collateral through any such person, or any successor or assign of any of the foregoing (all such persons and entities
being referred to individually as a “Transferee” and collectively as the “Transferees”), any and all right, title, benefit, interest or claim whatsoever, present or future, actual or contingent (collectively, “Rights”),
owned or held by the Collateral Agent to, against or in respect of the Removed Collateral. 

  

	 	(b)	In case any provision of this Reassignment shall be rendered invalid, illegal or unenforceable in any jurisdiction, the Collateral Agent hereby acknowledges that its
interest in the Removed Collateral is subordinate and junior to the security interest of any Transferee and hereby expressly agrees that any security interest it may have in any Removed Collateral is and shall remain subordinate and junior to all
security interests granted by a Transferee, regardless of the time of the recording, perfection or filing thereof or with respect thereto. 

  

	 	(c)	The Collateral Agent acknowledges and agrees that the Transferees and their representatives are expressly entitled to rely on the provisions of this Section 8, it
being the intent of the Collateral Agent that the Transferees will acquire title to the Removed Collateral purchased by them free of any Rights owned or held by the Collateral Agent to, against or in respect of the Removed Collateral.

  

	9.	Counterparts. This Reassignment may be executed in two or more counterparts, and by different parties on separate counterparts, each of which shall be an
original, but all of which shall constitute one and the same instrument. 

  

	10.	GOVERNING LAW. THIS REASSIGNMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS,
AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

  

	11.	 Limitation of Liability. Notwithstanding any other provision herein or elsewhere, this Reassignment has been executed and delivered by
Wilmington 

  
 4 

	 	 
Trust Company on behalf of the Trust, not in its individual capacity, but solely in its capacity as Owner Trustee, in no event shall Wilmington Trust Company in its individual capacity have any
liability in respect of the representations, warranties, or obligations of the Trust hereunder or under any other document, as to all of which recourse shall be had solely to the assets of the Trust, and for all purposes of this Reassignment and
each other document, the Owner Trustee (as such or in its individual capacity) shall be subject to, and entitled to the benefits of, the terms and provisions of the Trust Agreement. 

 

	12.	Authorization. The Collateral Agent hereby authorizes Skadden, Arps, Slate, Meagher & Flom LLP (“Skadden”) to file any financing statements or
continuation statements, and amendments to financing statements, in any jurisdictions and with any filing offices as Skadden may determine, in its sole discretion, are necessary or advisable to reflect the reassignment to the Trust pursuant to
Section 3 hereof. Such financing statements may describe the collateral in the same manner as described herein or may contain an indication or description of collateral that describes such property in any other manner as Skadden may determine,
in its sole discretion, is necessary, advisable or prudent to ensure the perfection of the security interest in the collateral granted to the Trust in connection herewith, including, without limitation, describing such property as “all
assets” or “all personal property.” 

  
 5 

 IN WITNESS WHEREOF, the Owner Trustee, on behalf of the Trust, and the Collateral Agent have
caused this Reassignment to be duly executed by their respective officers as of the day and year first above written. 
  

							
	 CHASE ISSUANCE TRUST

		
	 By:
	 	WILMINGTON TRUST COMPANY, not in its individual capacity but solely as Owner Trustee on behalf of the Trust
			
		 	 By:
	 	             /s/ Jennifer A.
Luce

		 		 	 Name:
	 	 Jennifer A. Luce

		 		 	 Title:
	 	 Assistant Vice President

	
	 WELLS FARGO BANK, NATIONAL ASSOCIATION, as Collateral Agent,

			
		 	 By:
	 	             /s/ Cheryl
Zimmerman

		 		 	 Name:
	 	 Cheryl Zimmerman

		 		 	 Title:
	 	 Vice President

 Chase Issuance Trust Reassignment No. 9 – APO 
 Reassignment No. 9 of
Receivables in Removed Asset Pool One Accounts 

 Schedule 1 
 REMOVED ASSET POOL ONE ACCOUNTS 
 [Delivered to the Collateral Agent]

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