Document:

EXHIBIT 10.12(d)

 

 

UNITED STATES CELLULAR CORPORATION

EXECUTIVE DEFERRED COMPENSATION INTEREST ACCOUNT PLAN

 

2013 Election Form

 

Name                                                    

 

Election to Participate

 

I choose to participate in the United States Cellular Corporation Executive Deferred Compensation Interest Account Plan (the “Plan”) for calendar year 2013.

 

Election to Defer Base Salary

 

On each issuance of my payroll check for services to be performed in calendar year 2013, I elect to have USCC deduct an amount equivalent to the percentage indicated from my gross base salary for the pay period, which amount will be credited to my 2013 Deferred Compensation Account under the Plan as of the pay date on which such check is to be issued.  The first deduction will occur on my payroll check dated January 18, 2013.

 

Base Salary %:

 

Election to Defer Bonus

 

On each issuance of a check in full or partial payment of my annual bonus or quarterly sales bonus (or any annual component to my sales bonus), if any, for services to be performed in calendar year 2013, I elect to have USCC deduct an amount equivalent to the percentage indicated of such gross bonus payment, which amount will be credited to my 2013 Deferred Compensation Account under the Plan as of the pay date on which such check is to be issued.

 

Bonus %:

 

2013 Interest Account Plan - Time of Payment Election

 

You must choose when your base salary and/or bonus you defer under the Plan with respect to calendar year 2013 will be paid to you.

 

Note that if you are a “specified employee” (as determined under the Section 409A Specified Employee Policy of Telephone and Data Systems, Inc. and its Affiliates), no payment on account of your separation from service shall be made from your 2013 Deferred Compensation Account before the date which is six months after the date of your separation from service (or, if earlier than the end of such six-month period, the date of your death).

 

	
 

Separation   from Service

(as   defined in the Plan)
    	
OR
    	
 

Specified Date

(must be a month & year in 2014 or   later)

Note: Payment will default to separation from   service,
   if you separate prior to specified payout date.
    
	
 
    	
 
    	
 
    
	
Indicate   “x”:
    	
 
    	
Date:
    

 

1

 

 

Note:  If you elect a Specified Date for payment and separate from service prior to such date, payment will accelerate and your 2013 Deferred Compensation Account shall be distributed to you upon such separation from service, subject to the required six-month delay for “specified employees.”

 

2013 Interest Account Plan — Method of Payment Election

 

You must choose the method of payment, either lump sum or quarterly installments, of your deferrals under the Plan with respect to calendar year 2013.

 

Note that if you choose installment payments and die prior to the total distribution of your 2013 Deferred Compensation Account, the unpaid balance of such account will be paid in a lump sum to your designated beneficiary at the time determined by USCC within sixty (60) days following your death.

 

	
 

Lump Sum   Distribution
    	
OR
    	
Quarterly Installment Method

(Up to a maximum of 20 qtrs or 5 yrs)
    
	
 
    	
 
    	
 
    
	
Indicate   “x”:
    	
 
    	
#   Quarters:
    

 

Acknowledgement of Executive

 

I acknowledge and agree that the elections set forth herein to defer my base salary and/or bonus for calendar year 2013 are irrevocable and, except in the event of any withdrawal under the Plan (or under any other non-qualified deferred compensation plan maintained by USCC or its affiliates) due to my unforeseeable emergency, shall be in effect for the entire calendar year.

 

I understand that my ability to change the elections set forth herein regarding the date and method of payment of my 2013 Deferred Compensation Account is restricted.  I generally will not be allowed to elect to accelerate the payment date of my 2013 Deferred Compensation Account.  I may elect to delay the payment date of my 2013 Deferred Compensation Account or change the method of payment only if (i) such election is made at least 12 months prior to the date of the scheduled payment (or, in the case of installment payments, 12 months prior to the date the first amount is scheduled to be paid) and (ii) except in the event of my death, disability or unforeseeable emergency, the payment subject to such election is deferred for a period of at least 5 years from the date such payment otherwise would have been made (or, in the case of installment payments, 5 years from the date the first amount is scheduled to be paid).

 

I acknowledge and agree that my elections set forth herein are subject to the terms and conditions of the Plan, as it may be amended from time to time, including any amendment necessary to satisfy any requirement of Section 409A of the Internal Revenue Code.

 

 

	
 
    	
 
    	
 
    
	
Signature
    	
 
    	
Date
    

 

 

Your completed election form must be received no later than December 17, 2012 to be effective.  Please return this completed election form to Patricia Nowak or Lorraine Gardner at the RSO.

 

2Exhibit 10.13

 

U.S. Cellular

8410 W. Bryn Mawr Avenue

Chicago, IL 60631

773-399-8900p

www.uscellular.com

 

March 23, 2011

 

Carter Elenz

00 Hillcrest Road

Burlington, VT  05401

 

Dear Carter,

 

We are pleased to extend an offer for you to join U.S. Cellular Corporation as the Executive Vice President, Sales and Customer Service, reporting to Mary Dillon.  We hope that you accept this offer and agree to start on April 15, 2011. Upon acceptance, your appointment to the position is subject to the approval of the U.S. Cellular Board of Directors.

 

This letter contains our complete offer of employment to you.  Your starting salary will be $16,077, paid bi-weekly, ($418,000 annualized) and will be subject to all applicable withholdings.  Your pay check or direct deposit notification will be mailed to you at your address of record.  You will be eligible for an annual performance review and given consideration for a salary increase in March, 2012.

 

You will be eligible for participation in our annual bonus program and will have a target bonus equal to 60% of your 2011 annual base earnings.  Any bonus earned for 2011 is scheduled to be paid in March, 2012, provided you are an employee in good standing at that time.

 

Assuming you start on April 15, 2011, you will be eligible to participate in the company’s  Long-Term Incentive Plan  (LTIP)  with an initial award of $364,198  worth of non-qualified stock options and $169,708 worth of restricted stock units (RSU).  The exercise price and the number of options granted will be determined by the closing price of a share of U.S. Cellular stock on the latter of your start date or the date the Long Term Incentive Compensation Committee of the Board of Directors, and the full Board of Directors, approves your grant. The number of RSU’s granted will also be determined by the closing price of U.S. Cellular stock on the same date.  The options will vest in three installments (33 1/3% each year) over three years and the RSU’s will vest three years from the grant date.  Participation in this plan also includes an opportunity for you to receive future stock options and restricted stock units (RSU’s) awards which historically are granted on the first trading day of April each year.

 

In subsequent years, assuming U.S. Cellular continues its LTIP in its current form with the same base pay multiples, your target Long-Term Incentive (LTI) value will be 145% of your base pay.  This assumes that the company and you meet certain performance targets.  If we maintain the current equity award vehicles and certain performance targets are met, 60% of your LTI value will be paid as stock options and 40% will be paid as RSU’s.  For any LTI awards made in April 2012, your RSU award allocation will be prorated based on your date of hire during 2011.  If you start on April 15, 2011, your allocation will be 75% of the target annual RSU award, adjusted for company and personal performance.

 

U.S. Cellular provides an excellent benefits package, including group insurance, 401(k) plan participation, pension and flexible spending accounts.  Also, as a member of senior management, you are eligible to participate in two separate salary and bonus deferral programs.  Additional information regarding these programs, as well as U.S. Cellular’s complete benefits program will be discussed with you at time of hire.

 

We understand that making a move to follow your career aspirations isn’t always easy.  To assist you with the transition to your new home, we would like to offer you relocation benefits.  If your employment with U.S. Cellular® terminates within one year of the effective date in your position, you will be required to repay 100% of the total relocation dollars reimbursed and/or advanced including all expenses that were directly billed to U.S. Cellular.  Please contact the Senior Director of Staffing, at 773-399-8900 to discuss in detail.

 

This offer is expressly contingent upon the acceptable results of a pre-employment drug screening.  Failure to submit to a drug screen within 48 hours of the acceptance of this offer or a confirmed positive drug test shall result in the withdrawal of the employment offer and denial of employment. This offer is expressly contingent upon the acceptable results of a pre-employment drug screening.  Failure to submit to a drug screen within 48 hours of the acceptance of this offer or a confirmed positive drug test shall result in the withdrawal of the employment offer and denial of employment.

 

 

This offer is also contingent upon the background check results provided by our third-party administrator, Orange Tree Employment Screening, and upon your ability to prove your identity and eligibility to be employed in compliance with the Immigration Reform and Control Act of 1986.  At the time of hire, you will be provided with a comprehensive list of acceptable documents, which may be utilized to comply with the requirements of this federal law, as well as a Federal I-9 form, which you must complete.

 

In addition, this offer is contingent upon you signing this letter and completing the USCC Payroll Corporation Confidentiality/Non-Solicitation/Non-Competition Agreement.  It is important that you understand all terms and conditions stated in the Agreement, and we will be happy to review the details with you directly.

 

To accept our invitation and as a condition of employment, we ask that you please sign and return this letter.  A second copy of this letter is provided for your records.

 

On behalf of Mary Dillon, I welcome you to join U.S. Cellular®, and we look forward to a successful partnership with you.

 

 

	
Sincerely,
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
/s/ Jeff Childs
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Jeff   Childs
    	
 
    	
 
    
	
Executive   Vice President and Chief Human Resources Officer
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Accepted   and agreed:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
/s/ Carter Elenz
    	
 
    	
Date:
    	
3/23/11
    
	
Carter Elenz
    	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Copy:
    	
Mary   Dillon
    	
 
    
	
 
    	
Chief Executive Officer
    	
 
    
	
 
    	
U.S.   Cellular
    	
 
    
					

 

 

	
Enclosures:
    	
 
    	
USCC   Confidentiality/Non-Solicitation/Non-Competition Agreement
    
	
 
    	
 
    	
USCC   Benefits At A Glance

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