Document:

exv10w35

EXHIBIT 10.35

STAND-ALONE NONQUALIFIED STOCK OPTION AGREEMENT

(Time-Vested Award)

* * * * *

Participant: Atish Banerjea

Grant Date: January 18, 2011

Per Share Exercise Price: $6.97

Number of Shares subject to this Option: 50,000

* * * * *

     THIS NON-QUALIFIED STOCK OPTION AWARD AGREEMENT (this “Agreement”), dated as of the
Grant Date specified above, is entered into by and between Dex One Corporation, a corporation
organized in the State of Delaware (the “Company”), and the Participant specified above.

     This Nonqualified Stock Option is granted to the Participant on a stand-alone basis, outside
the Dex One Corporation Equity Incentive Plan, as amended (the “Plan”), as a material
inducement for the Participant to accept the position of Senior Vice President and Chief Technology
Officer of the Company. Notwithstanding the foregoing, it is intended that all of the terms and
conditions of the Plan that would otherwise have been applicable to this Nonqualified Stock Option
had this Nonqualified Stock Option been granted under the Plan (except as otherwise expressly
provided herein) be applicable to this Nonqualified Stock Option, and accordingly, references to
the Plan are made herein for such purpose and those terms are incorporated herein by reference.
The Plan is attached as Exhibit 10.4 to the Company’s Current Report on Form 8-K filed with the
Securities and Exchange Commission on February 4, 2010.

     NOW, THEREFORE, in consideration of the mutual covenants and promises hereinafter set forth
and for other good and valuable consideration, the parties hereto hereby mutually covenant and
agree as follows:

     1. Incorporation By Reference; Plan Document Receipt. This Agreement is subject in
all respects to the terms and provisions of the Plan (including, without limitation, any amendments
thereto adopted at any time and from time to time unless such amendments are expressly intended not
to apply to this Nonqualified Stock Option), all of which terms and provisions are made a part of
and incorporated in this Agreement as if they were each expressly set forth herein. Any
capitalized term not defined in this Agreement shall have the same meaning as is ascribed thereto
in the Plan. The Participant hereby acknowledges receipt of a true copy of the Plan and that the
Participant has read the Plan carefully and fully understands its content. In the event of any
conflict between the terms of this Agreement and the terms of the Plan, the terms of this Agreement
shall control. No part of this Nonqualified Stock Option granted hereby
is intended to qualify as an “incentive stock option” under Section 422 of the Code.

A-1

 

Without limiting the generality of the preceding sentences, the number of shares of Common Stock subject to
the Nonqualified Stock Option and the Per Share Exercise Price therefore shall be subject to
adjustment as provided in Section 5.7 of the Plan. Notwithstanding the foregoing, no amendment to
the Plan or this Agreement, or the exercise of any discretion by the Company, the Committee, the
Board or otherwise with respect to interpreting or administering the Plan and/or this Agreement
which would impair the rights of the Participant shall be effective with respect to this
Nonqualified Stock Option unless specifically agreed to by the Participant in an advance writing.
In addition, any provision of the Plan which provides that the decisions and interpretation of the
Company, the Committee, the Board or otherwise are final, binding and conclusive (or any other
language of similar effect) shall not be applicable to this Nonqualified Stock Option to the extent
that the exercise of the powers thereunder would be inconsistent with the economic intent of this
Agreement.

     2. Grant of Option. The Company hereby grants to the Participant, as of the Grant
Date specified above, a Nonqualified Stock Option (this “Option”) to acquire from the
Company at the Per Share Exercise Price specified above, the aggregate number of shares of Common
Stock specified above (the “Option Shares”). Except as otherwise provided by the Plan, the
Participant agrees and understands that nothing contained in this Agreement provides, or is
intended to provide, the Participant with any protection against potential future dilution of the
Participant’s interest in the Company for any reason. The Participant shall have no rights as a
stockholder with respect to any shares of Common Stock covered by this Option unless and until the
Participant has become the holder of record of such shares, and no adjustments shall be made for
ordinary dividends in cash or other property, distributions or other rights in respect of any such
shares, except as otherwise specifically provided for in the Plan or this Agreement.

     3. Vesting and Exercise.

          (a) Vesting. Subject to the provisions of Sections 3(b) through 3(d) hereof, this
Option shall vest and become exercisable as follows, subject to the Participant’s continued service
with the Company or its Subsidiaries on each applicable Vesting Date (as provided below):

	 	 	 
	Vesting Date	 	Number of Shares
	January 18, 2012
	 	12,500
	January 18, 2013
	 	12,500
	January 18, 2014
	 	12,500
	January 18, 2015
	 	12,500

Except as provided in Sections 3(b) and 3(c) hereof, there shall be no proportionate or partial
vesting in the periods prior to each Vesting Date and all vesting shall occur only on the
appropriate Vesting Date specified above, subject to the Participant’s continued
service with the Company or any of its Subsidiaries on each applicable Vesting Date. Upon
expiration of this Option, this Option shall be cancelled and no longer exercisable.

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          (b) Accelerated Vesting; Committee Discretion to Accelerate Vesting. Notwithstanding
the foregoing, in the event of the Participant’s termination of service with the Company and its
Subsidiaries by the Company without “Cause,” by the Participant for “Good Reason”
(each as defined in the Dex One Corporation Severance Plan — Senior Vice President (Effective as
Amended October 14, 2010), as the same may hereafter be amended and/or superseded from time to
time)(the “SVP Severance Plan”)), or as a result of the Participant’s death or Disability,
then the unvested portion of this Option that would have become vested on the next Vesting Date (as
set forth above) immediately following such termination had the Participant remained in the service
of the Company and its Subsidiaries through such Vesting Date shall become immediately vested as of
the date of such termination. In addition to the foregoing, the Committee may, in its sole
discretion, provide for accelerated vesting of this Option at any time and for any reason.

          (c) Change in Control. Notwithstanding the provisions of Sections 3(a) and 3(b)
hereof, in the event of the Participant’s termination of service with the Company and its
Subsidiaries by the Company without Cause or by the Participant for Good Reason within three (3)
months prior to or two (2) years following a “Change in Control” (as defined in the SVP
Severance Plan), any unvested portion of this Option shall become fully and immediately vested and
exercisable on the date of such termination (or the date of the Change in Control, if such
termination occurs within three (3) months prior to such Change in Control). In addition to the
foregoing, the Committee may, in its sole discretion, provide for accelerated vesting of this
Option at any time and for any reason. The parties hereto agree that if other officers, directors
or employees of the Company have outstanding stock options, SARs or similar awards which vest upon
a Change in Control (either by the terms of the applicable award agreement or through the act of
the Committee, the Board or otherwise), than, notwithstanding the foregoing, this Option shall vest
as to 100% of the unvested portion of this Option as of the Change in Control. The parties further
acknowledge and agree that to the extent that this Option remains unvested upon a termination of
Executive’s employment in which the first sentence of this Section 3(c) could be applicable, this
Option shall not terminate until the last date on which this Option could vest in accordance with
this Section 3(c).

          (d) Expiration. Unless earlier terminated in accordance with the terms and provisions
of the Plan and/or this Agreement, all portions of this Option (whether vested or not vested) shall
expire and shall no longer be exercisable after the expiration of ten (10) years from the Grant
Date.

     4. Termination. Subject to the terms of the Plan and this Agreement, this Option, to
the extent vested at the time of the Participant’s termination of service with the Company or its
Subsidiaries (taking into account the accelerated vesting provisions set forth herein) shall remain
exercisable as follows:

          (a) General. Except as otherwise provided in Sections 4(b) and 4(c) hereof, in the
event of the Participant’s termination of service with the Company and its Subsidiaries for any
reason, the vested portion of this Option shall remain exercisable
until the earlier of (i) one (1) year from the date of such termination, and (ii) the
expiration of the stated term of this Option pursuant to Section 3(d) hereof.

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          (b) Termination for Cause. In the event of the Participant’s termination of service
with the Company and its Subsidiaries for Cause, the vested portion of this Option shall remain
exercisable until the earlier of (i) thirty (30) days from the date of such termination, and (ii)
the expiration of the stated term of this Option pursuant to Section 3(d) hereof; provided
that if such Cause event has a material adverse effect on the Company or its reputation, the
Participant’s entire Option (whether or not vested) shall instead terminate and expire upon such
termination.

          (c) Treatment of Unvested Option upon Termination. Any portion of this Option that is
not vested as of the date of the Participant’s termination of service with the Company and its
Subsidiaries for any reason shall terminate and expire as of the date of such termination.

     5. Method of Exercise and Payment. Subject to Section 8 hereof, to the extent that
this Option has become vested and exercisable with respect to a number of shares of Common Stock as
provided herein, this Option may thereafter be exercised by the Participant, in whole or in part,
at any time or from time to time prior to the expiration of this Option as provided herein and in
accordance with any of the methods set forth in Section 2.1(c) of the Plan, including, without
limitation, by the filing of any written form of exercise notice as may be required by the
Committee and payment in full of the Per Share Exercise Price specified above multiplied by the
number of shares of Common Stock underlying the portion of this Option exercised.

     6. Non-Transferability. This Option, and any rights and interests with respect
thereto, issued under this Agreement shall not be sold, exchanged, transferred, assigned or
otherwise disposed of in any way by the Participant (or any beneficiary of the Participant), other
than by testamentary disposition by the Participant or the laws of descent and distribution.
Notwithstanding the foregoing, the Committee may, in its sole discretion, permit this Option to be
transferred to a “family member” (as defined in Section A.1.(a)(5) of the general instructions of
Form S-8) for no value, provided that such transfer shall only be valid upon execution of a written
instrument in form and substance acceptable to the Committee in its sole discretion evidencing such
transfer and the transferee’s acceptance thereof signed by the Participant and the transferee, and
provided, further, that this Option may not be subsequently transferred other than by will or by
the laws of descent and distribution or to another “family member” (as permitted by the Committee
in its sole discretion) in accordance with the terms of the Plan and this Agreement, and shall
remain subject to the terms of the Plan and this Agreement. Any attempt to sell, exchange,
transfer, assign, pledge, encumber or otherwise dispose of or hypothecate in any way this Option,
or the levy of any execution, attachment or similar legal process upon this Option, contrary to the
terms and provisions of this Agreement and/or the Plan shall be null and void and without legal
force or effect.

     7. Governing Law. All questions concerning the construction, validity and
interpretation of this Agreement shall be governed by, and construed in accordance with, the laws
of the State of Delaware, without regard to the choice of law principles thereof.

     8. Withholding of Tax. The Company shall have the power and the right to deduct or
withhold, or require the Participant to remit to the Company, an amount sufficient to satisfy any
federal, state, local and foreign taxes of any kind (including, but

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not limited to, the
Participant’s FICA and SDI obligations) which the Company, in its sole discretion, deems necessary
to be withheld or remitted to comply with the Code and/or any other applicable law, rule or
regulation with respect to this Option and, if the Participant fails to do so, the Company may
otherwise refuse to issue or transfer any shares of Common Stock otherwise required to be issued
pursuant to this Agreement. Any statutorily required withholding obligation with regard to the
Participant may be satisfied by reducing the amount of cash or shares of Common Stock otherwise
deliverable upon exercise of this Option or by any other method, as selected by the Participant, as
provided in Section 5.5 of the Plan.

     9. Entire Agreement; Amendment. This Agreement, together with the Plan, contains the
entire agreement between the parties hereto with respect to the subject matter contained herein,
and supersedes all prior agreements or prior understandings, whether written or oral, between the
parties relating to such subject matter. This Agreement may only be modified or amended by a
writing signed by both the Company and the Participant, except as specifically provided in the Plan
(as limited by this Agreement).

     10. Notices. Any notice hereunder by the Participant shall be given to the Company in
writing and such notice shall be deemed duly given only upon receipt thereof by the General Counsel
(or its designee) of the Company, or, if not available, the Board. Any notice hereunder by the
Company shall be given to the Participant in writing and such notice shall be deemed duly given
only upon receipt thereof at such address as the Participant may have on file with the Company.

     11. No Right to Service. Nothing in this Agreement shall interfere with or limit in
any way the right of the Company or its Subsidiaries to terminate the Participant’s service at any
time, for any reason and with or without Cause.

     12. Transfer of Personal Data. The Participant authorizes, agrees and unambiguously
consents to the transmission by the Company (or any Subsidiary) of any personal data information
related to this Option awarded under this Agreement for legitimate business purposes. This
authorization and consent is freely given by the Participant.

     13. Compliance with Laws. The issuance of this Option (and the Option Shares upon
exercise of this Option) pursuant to this Agreement shall be subject to, and shall comply with, any
applicable requirements of any foreign and U.S. federal and state securities laws, rules and
regulations (including, without limitation, the provisions of the Securities Act of 1933, as
amended, the Exchange Act and in each case any respective rules and regulations promulgated
thereunder) and any other law or regulation applicable thereto. The Company shall not be obligated
to issue this Option or any of the Option Shares pursuant to this Agreement if any such issuance
would violate any such requirements. The Company represents that it is not restricted from
granting the award contemplated under this Agreement for any reason. The Company shall register
the shares subject to this award on an S-8 or S-3 (or other appropriate registration statement).

     14. Section 409A. Notwithstanding anything herein or in the Plan to the contrary,
this Option is intended to be exempt from the applicable requirements of

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Section 409A of the Code and shall be limited, construed and interpreted in accordance with such intent as is reasonable
under the circumstances.

     15. Binding Agreement; Assignment. This Agreement shall inure to the benefit of, be
binding upon, and be enforceable by the Company and its successors and assigns. The Participant
shall not assign (except in accordance with Section 6 hereof) this Option or any part of this
Agreement without the prior express written consent of the Company.

     16. Headings. The titles and headings of the various sections of this Agreement have
been inserted for convenience of reference only and shall not be deemed to be a part of this
Agreement.

     17. Counterparts. This Agreement may be executed in one or more counterparts, each of
which shall be deemed to be an original, but all of which shall constitute one and the same
instrument.

     18. Further Assurances. Each party hereto shall do and perform (or shall cause to be
done and performed) all such further acts and shall execute and deliver all such other agreements,
certificates, instruments and documents as either party hereto reasonably may request in order to
carry out the intent and accomplish the purposes of this Agreement and the consummation of the
transactions contemplated thereunder.

     19. Severability. The invalidity or unenforceability of any provisions of this
Agreement in any jurisdiction shall not affect the validity, legality or enforceability of the
remainder of this Agreement in such jurisdiction or the validity, legality or enforceability of any
provision of this Agreement in any other jurisdiction, it being intended that all rights and
obligations of the parties hereunder shall be enforceable to the fullest extent permitted by law.

     20. Acquired Rights. The Participant acknowledges and agrees that: (a) the Company
may terminate or amend the Plan at any time, subject to the limitations contained in the Plan and
this Agreement, (b) the award of this Option made under this Agreement is completely independent of
any other award or grant and is made at the sole discretion of the Company; (c) no past grants or
awards (including, without limitation, this Option) give the Participant any right to any grants or
awards in the future whatsoever; and (d) any benefits granted under this Agreement are not part of
the Participant’s ordinary salary, and shall not be considered as part of such salary in the event
of severance, redundancy or resignation.

* * * * *

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     IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first
written above.

	 	 	 	 	 
	 	DEX ONE CORPORATION

 	 
	 	By:  	/s/ Gretchen Zech
 	 
	 	 	Name:  	Gretchen Zech 	 
	 	 	Title:  	Senior Vice President, Human Resources 	 
	 
	 
	 	PARTICIPANT

 	 
	 	/s/ Atish Banerjea
 	 
	 	Atish Banerjea 	 
	 	 	 
	 

7exv10w36

EXHIBIT 10.36

DEX ONE CORPORATION

SEVERANCE PLAN—SENIOR VICE PRESIDENT

PLAN DOCUMENT AND SUMMARY PLAN DESCRIPTION

(Effective as Amended October 14, 2010)

     This document describes the benefits available under the Dex One Corporation Severance
Plan—Senior Vice President (formerly known as the R. H. Donnelley Corporation Severance Plan —
Senior Vice President)(the “SVP Plan”). The SVP Plan replaces and supersedes the R. H. Donnelley
Executive Severance Policy, the R. H. Donnelley Employee Continuity Plan, the Dex Media, Inc.
Management Separation Plan, the Special Transitional Leave of Absence Program for Dex Media and any
other plan or program (excluding Employment Agreements, as defined in Section 4.5.6) of the
Employer that purports to provide severance or separation pay or benefits to employees at the level
of Senior Vice President or above. Dex One Corporation (the “Company”) has established the SVP
Plan to provide benefits to certain employees (hereinafter an “Employee” or, collectively,
“Employees”) of the Company and its Affiliates (hereinafter collectively referred to as the
“Employer”) in the event of termination of their employment under the circumstances described in
the SVP Plan. The SVP Plan is effective as amended on October 14, 2010, and shall continue in
effect (as it may be further amended from time to time as herein provided) until terminated as
hereinafter provided.

1. PURPOSE OF THE SVP PLAN

     The purpose of the SVP Plan is to provide income to Employees who become eligible to
participate in the SVP Plan pursuant to Section 3.1 (hereinafter “Participant” or, collectively,
“Participants”) while seeking and/or transitioning to new employment. The SVP Plan is a welfare
benefit plan and this document is intended to constitute both a severance pay plan and its related
summary plan description (“SPD”) under the Employee Retirement Income Security Act of 1974, as
amended (“ERISA”). Benefits payable under the SVP Plan shall constitute unfunded general
obligations of the Employer payable from its general assets, and the Employer shall not be required
to establish any special fund or trust for purposes of paying benefits under the SVP Plan.
Benefits under the SVP Plan are not payments for past services. The SVP Plan is available only to
Participants who meet all eligibility requirements as defined herein, and is not available to any
other Employees of the Employer.

2. PLAN ADMINISTRATOR

     2.1. Designation. The Company’s Employee Benefits Committee shall serve as the
administrator of the SVP Plan (the “SVP Plan Administrator”) for all purposes, including serving as
named fiduciary of the SVP Plan under ERISA. Contact information for the SVP Plan Administrator is
included in the SVP Plan Information section of this SVP Plan. Any member of the Employee Benefits
Committee shall recuse himself or herself from consideration of the application of this SVP Plan to
them.

     2.2. Authority. The SVP Plan Administrator, in its sole and absolute discretion, may
adopt such rules, regulations, and bylaws and make such decisions as it deems necessary or
desirable for the proper administration of the SVP Plan. The SVP Plan Administrator shall have
sole and absolute discretionary authority to determine eligibility for benefits, to interpret the
provisions of the SVP Plan, to make all determinations required or permitted under the SVP Plan,
and to take such other actions as it deems appropriate. Determinations of the SVP Plan
Administrator shall be conclusive and binding upon all affected persons, and there shall be no
appeal from any ruling by the SVP Plan Administrator that is within the SVP Plan Administrator’s
authority, except as provided in this SVP Plan. When making a determination or calculation, the
SVP Plan Administrator shall be entitled to rely upon information furnished by the Employer’s
employees and agents. The SVP Plan Administrator may delegate certain

 

 

administrative duties under the SVP Plan to personnel within the Human Resources or Finance
functions of the Employer as it deems appropriate.

3. ELIGIBILITY AND PARTICIPATION

     3.1. Eligibility Requirements. An Employee shall become a Participant in the SVP Plan
if all of the following criteria are met:

	 	(a)	 	Immediately prior to the date of an Employee’s termination of
employment (the “Termination Date”), the Employee is a regular, full-time
employee of the Employer either (i) serving in a position of Senior Vice
President, or a more senior position, in either case with a direct reporting
relationship to the Chief Executive Officer of the Company, or (ii) has
otherwise been determined by the Employer to be a Section 16 officer, within
the meaning of Section 16 of the Securities Exchange Act of 1934, as amended,
and the rules and regulations promulgated thereunder (an Employee satisfying
the eligibility requirements of clause (i) or (ii) above shall be referred to
hereinafter as an “SVP”);
	 
	 	(b)	 	The Employee’s employment is terminated either:

	 	(i)	 	By the Employer for reasons other than “Cause”
(as defined in Section 4.5.4); or
	 
	 	(ii)	 	By the Employee for “Good Reason” (as defined
in Section 4.5.5);

	 	(c)	 	The Employee promptly returns all property of the Employer and
pays all amounts, if any, that the Employee owes to the Employer or agrees to
have all such amounts deducted from the Severance Benefits to be paid under the
SVP Plan;
	 
	 	(d)	 	The Employee timely executes and returns a general release in
such form and containing such terms and conditions as may be required by the
Employer (the “General Release”), does not revoke such release within the time
permitted under applicable state or federal law, and reaffirms in writing in
the General Release his or her obligations under any existing agreements or
commitments concerning non-competition, non-solicitation, non-disparagement,
confidentiality, trade secrets and intellectual property (collectively,
“Employer Protection Obligations”); provided that if the Employee is not bound
by such Employer Protection Obligations as of the Date of Termination, the
Employer may require that the General Release include Employer Protection
Obligations to which it requires newly-hired SVP’s to commit prior to their
employment with Employer; and
	 
	 	(e)	 	The Employee is not in one of the excluded categories listed
below.

     3.2. Eligibility Exclusions. The following categories of Employees shall not be
eligible to participate under the SVP Plan:

	 	(a)	 	Any Employee who does not satisfy the eligibility criteria set
forth in Section 3.1;
	 
	 	(b)	 	Any Employee who voluntarily terminates his or her employment,
except under circumstances that constitute “Good Reason” or is terminated by
Employer for Cause;
	 
	 	(c)	 	Any Employee who is subject to an Employment Agreement; or

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	 	(d)	 	Any Employee whose employment is terminated due to retirement,
death or disability.

     3.3. Loss of Eligibility. Any Participant who the SVP Plan Administrator determines:
(a) violates an Employer Protection Obligation or otherwise violates any of the terms and
conditions of the General Release executed by the Participant, or (b) violates any of the terms and
conditions of any other material agreement between Participant and the Employer, or (c) otherwise
engages in conduct that may adversely affect the Employer’s reputation or business relations shall
lose his or her eligibility to participate in the SVP Plan, and shall be liable for reimbursing the
Employer for any Severance Benefits previously received by him or her pursuant to the SVP Plan.

     3.4. Reservation of Employer Rights. Neither this SVP Plan nor any action taken
hereunder shall be construed as: (i) giving any Employee the right to continue in the employ of
the Employer, (ii) interfering in any way with the absolute, unfettered right of the Employer to
terminate any Employee’s employment at any time for any reason, whether for cause or otherwise, or
with or without notice, or (iii) giving any Employee any right to be eligible for Severance
Benefits under this SVP Plan or otherwise, other than strictly in accordance with the eligibility
provisions and other terms and conditions of this SVP Plan.

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4. SEVERANCE BENEFITS

     4.1. Regular Severance Benefits. A Participant under Section 3.1 shall be entitled to
receive Severance Benefits as described in this Section 4.1 (“Regular Severance Benefits”), unless
the Termination Date occurs within two (2) years following a Change in Control, as defined in
Section 4.2, subject to the terms and conditions of the SVP Plan, as follows:

Regular Severance Benefits

	 	 	 	 	 	 	 
	 	 	 	 	Benefit	 	Bonus for Year of
	 	 	 	 	Continuation/COBRA	 	Separation under
	Position	 	Cash Severance	 	Supplement	 	Employer Bonus Plan
	Participant—SVP

	 	Lump sum payment
equal to 78 weeks
(“Regular Severance
Period”) of pay,
plus one and
one-half times
target bonus (in
aggregate, “Cash
Severance”).
	 	•   Employer
will reimburse
Participant for the
difference, if any,
between (a) the
total cost paid by
Participant for
continuing health
benefits under
COBRA and (b) the
active employee
rate for the same
health benefits
elected by
Participant under
COBRA, for up to 18
months, but such
reimbursement shall
cease upon an
Employee otherwise
becoming eligible
for health benefits
(“COBRA
Supplement”).

	 	If Participant has
worked at least 90
days of the current
calendar year at
the Termination
Date, prorated
bonus will be
payable based upon
actual performance
for the entire
performance period
at such time as
bonuses are
otherwise paid
(“Pro Rata Bonus
Payout”).
	 
	 	 	 	 	 	 
	 

	 	 	 	•   Employer
will pay premiums
to continue basic
life insurance for
up to 18 months,
but such coverage
shall cease upon an
Employee otherwise
becoming eligible
for such benefit
(“Life Insurance
Continuation”).
	 	 

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     4.2. Severance Benefits upon a Change in Control. In lieu of Regular Severance Benefits
described in Section 4.1 above, a Participant shall be entitled to receive Severance Benefits as
described in this Section 4.2 (“Change in Control Severance Benefits”) if the Termination Date
occurs within two (2) years following a Change in Control, subject to the terms and conditions of
this SVP Plan, as follows:

Change in Control Severance Benefits

	 	 	 	 	 	 	 
	 	 	 	 	Benefit	 	Bonus for Year of
	 	 	Salary Continuation	 	Continuation/COBRA	 	Separation under
	Position	 	or Cash Severance	 	Supplement	 	Company Bonus Plan
	Participant—SVP

	 	Lump sum payment
equal to 104 weeks
(“Change in Control
Severance Period”)
of pay, plus two
times target bonus,
as Cash Severance.
	 	•   Employer
will provide the
COBRA Supplement
for up to 18
months. 

•   Employer
will provide Life
Insurance
Continuation for up
to 18 months.

	 	If Participant has
worked at least 90
days of the current
calendar year at
the Termination
Date, Employer will
provide a Pro Rata
Bonus Payout.

	 	4.2.1	 	Change in Control Defined.
	 
	 	(a)	 	For purposes of determining whether Change in Control Severance
Benefits are payable, a Change in Control shall mean the occurrence of any of
the following events:

	 	(i)	 	Any “person,” as such term is used in Sections
13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”) (other than the Company, any trustee or other fiduciary
holding securities under an employee benefit plan of the Company, or
any company owned directly or indirectly by the shareholders of the
Company in substantially the same proportions as their ownership of
stock of the Company), is or becomes the “beneficial owner” (as defined
in rule 13d-3 under the Exchange Act), directly or indirectly, of
securities of the Company representing 50% or more of the combined
voting power of the Company’s then outstanding securities;
	 
	 	(ii)	 	During any period of twelve (12) consecutive
months, individuals who at the beginning of such period constitute the
Board, and any new director (other than a director designated by a
person (as defined above) who has entered into an agreement with the
Company to effect a transaction described in subsections (i), (iii) or
(iv) of this definition) whose election by the Board or nomination for
election by the Company’s shareholders was approved by a vote of at
least two-thirds (2/3) of the directors then still in office who either
were directors at the beginning of the period or whose election or
nomination for election was previously so approved, cease for any
reason to constitute at least a majority thereof;
	 
	 	(iii)	 	The shareholders of the Company have approved
a merger or consolidation of the Company with any other company and all
other

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	 	 	 	required governmental approvals of such merger or consolidation
have been obtained, other than (A) a merger or consolidation which
would result in the voting securities of the Company outstanding
immediately prior thereto continuing to represent (either by
remaining outstanding or by being converted into voting securities of
the surviving entity) more than 60% of the combined voting power of
the voting securities of the Company or such surviving entity
outstanding immediately after such merger or consolidation or (B) a
merger or consolidation effected to implement a recapitalization of
the Company (or similar transaction) in which no person (as defined
above) becomes the beneficial owner (as defined above) of more than
30% of the combined voting power of the Company’s then outstanding
securities; or
	 
	 	(iv)	 	The shareholders of the Company have approved a
plan of complete liquidation of the Company or an agreement for the
sale or disposition by the Company of all or substantially all of the
Company’s assets, and all other required governmental approvals of such
transaction have been obtained.

	 	(b)	 	For purposes of this SVP Plan, if a Participant’s Termination
Date occurs after the commencement of negotiations with a potential acquiror or
business combination partner but prior to an actual Change in Control, and an
actual Change in Control with such acquiror or business combination partner
occurs within one year after such Participant’s Termination Date, the
Termination Date shall be deemed to occur within two years following a Change
in Control and such Participant shall be entitled to Change in Control
Severance Benefits under Section 4.2.

     4.3. Health Plan Continuation. A Participant’s current health coverage provided under
the Employer’s group health plan, in effect at the Termination Date, shall terminate on the last
day of the month in which the Termination Date occurs in accordance with the terms of the
Employer’s group health plan. Under the Consolidated Omnibus Budget Reconciliation Act of 1985
(“COBRA”), upon termination of employment, an employee has certain coverage continuation rights.
If a Participant makes an election to exercise his or her COBRA rights, the Participant and his or
her dependents shall be responsible for paying the maximum permitted cost under COBRA for any
continued coverage under the Employer’s group health plans, which are elected pursuant to COBRA,
subject to any reimbursement by the Employer as provided in Sections 4.1 and 4.2. Any changes that
occur during the Severance Period that impact active employees, including rate changes, will also
apply to the Participant’s Severance Benefits under this Plan. At the conclusion of the Severance
Period and for the remainder of the period of COBRA eligibility, the Participant will be
responsible for paying the maximum permitted cost under COBRA for any continued coverage elected
under COBRA.

     4.4. Other Benefit Plans. All Participants will cease to be Employees on their
Termination Dates and will no longer be eligible to participate in any welfare or retirement plans
maintained by the Employer, except as otherwise provided in such plans, or as required by
applicable law.

     4.5. Definitions and Applications. For purposes of calculating Severance Benefits
under this Section 4, the following definitions or applications shall be used.

          4.5.1 Week of Pay. In determining Cash Severance under Sections 4.1 or 4.2, and for
purposes of Section 5.5.1, a “week of pay” shall be defined, as the Participant’s annual base
salary for one year’s service at the rate in effect immediately preceding (a) in the case of
involuntary termination by the Employer, any notice from the Employer to the Participant of his or
her involuntary termination, or (b) in the case of a termination of his or her employment by
Participant for Good Reason, the first incidence of a condition giving rise to such Good Reason, in
each case, divided by 52.

6

 

          4.5.2 Bonus. Reference to bonus or to a bonus plan means the Participant’s
participation in the Employer’s annual cash incentive plan applicable to the Participant, if any,
subject to the terms and conditions in effect immediately preceding (a) in the case of involuntary
termination by the Employer, any notice from the Employer to the Participant of his or her
involuntary termination, or (b) in the case of a termination of his or her employment by
Participant for Good Reason, the first incidence of a condition giving rise to such Good Reason.
Nothing in this SVP Plan creates any obligation of the Employer to create or maintain any such
bonus or bonus plan.

          4.5.3 Affiliate. As used in this SVP Plan, reference to Affiliates shall mean any
individual or entity directly or indirectly controlling, controlled by or under common control
with, the specified individual or entity. For purposes of this SVP Plan, the direct or indirect
ownership of over fifty percent (50%) of the outstanding voting securities of an entity, or the
right to receive over fifty percent (50%) of the profits or earnings of an entity shall be deemed
to constitute control. Such other relationships as in fact result in actual control over the
management, business and affairs of an entity, shall also be deemed to constitute control;
provided, however, as of the effective date of the SVP Plan, Affiliates shall not include
Business.com, Inc. (unless and until subsequently determined otherwise by the SVP Plan
Administrator) or any other affiliate of the Employer from time to time excluded by the SVP Plan
Administrator.

          4.5.4 Cause. “Cause” as used in this SVP Plan shall mean: (i) Employee’s willful and
continued failure substantially to perform the duties of his or her position (other than as a
result of total or partial incapacity due to physical or mental illness or as a result of a
termination by Executive for Good Reason, as hereinafter defined), (ii) any willful act or omission
by Employee constituting dishonesty, fraud or other malfeasance, which in any such case is
demonstrably (and, in the case of other malfeasance, materially) injurious to the financial
condition or business reputation of the Employer, or (iii) Employee’s conviction of a felony under
the laws of the United States or any state thereof or any other jurisdiction in which the Employer
conducts business which materially impairs the value of Employee’s services to the Employer. For
purposes of this definition, no act or failure to act shall be deemed “willful” unless effected by
Employee not in good faith and without a reasonable belief that such action or failure to act was
in or not opposed to the best interests of the Employer.

          4.5.5 Good Reason. “Good Reason” as used in this SVP Plan shall mean without such
Employee’s consent: (a) material diminution in (i) Employee’s then current title, but only if
such diminution accompanies a diminution in Employee’s position, duties or responsibilities, or
(ii) Employee’s then-current position, duties or responsibilities; or (b) the assignment to
Employee of duties and responsibilities that are inconsistent, in a material respect, with the
scope of duties and responsibilities associated with Employee’s then current position; or (c)
material reduction in such Employee’s total compensation opportunity under any and all base salary,
annual incentive, long term incentive, stock award and other compensatory plans and programs made
available to Employee by Employer in connection with his or her employment, except for any such
reduction that reasonably proportionately adversely impacts all other similarly situated Employees
eligible for Severance Benefits under this SVP Plan . Notwithstanding the foregoing, “Good Reason”
shall only be found to exist if the Employee has provided written notice to the Employer of the
condition giving rise to Good Reason within ninety (90) days following the occurrence of the
condition giving rise to Good Reason, the Employer does not cure such condition within thirty (30)
days following the receipt of such notice from Employee, and Employee resigns within 180 days
following the initial existence of such condition. In addition, and notwithstanding the foregoing,
the implementation of the restructuring of the Company and its subsidiaries pursuant to the terms
of the Joint Plan of Reorganization for R. H. Donnelley Corporation and its Subsidiaries, dated
October 21, 2009 (as the same may be amended from time to time, the “Plan”), filed by the Company
and its subsidiaries with the United States Bankruptcy Court for the District of Delaware, Case No.
09-11833 (KG), and the terms of the Disclosure Statement thereunder, shall not alone constitute
Good Reason as used in this SVP Plan.

          4.5.6 Employment Agreement. As used in this SVP Plan, Employment Agreement refers to
a written agreement between an Employee and Employer that includes provisions related to

7

 

severance or separation pay or benefits, is executed by both parties and approved by the
Compensation and Benefits Committee of the Board of Directors of the Company.

	5.	 	PAYMENT OF BENEFITS

     5.1. General. Payment of amounts due under the SVP Plan shall be made as follows:
Cash Severance shall be paid in lump sum within thirty (30) calendar days after the Participant has
executed and returned the General Release, provided that the Participant has not revoked such
release, and any Pro Rata Bonus Payout shall be paid as provided in Section 4 above. All payments
of Cash Severance and/or Pro Rata Bonus Payout shall be made no later than two and one-half (21/2)
months following the end of the calendar year containing the Participant’s Termination Date. The
COBRA Supplement shall be reimbursed by the Employer to the Employee within 30 days after Employee
has paid the applicable COBRA premium. The Employer shall withhold from any Severance Benefits
hereunder any federal and state income and payroll taxes as required by applicable law.

     5.2. Restrictions on Payment of Benefits to Comply with Code § 409A. Notwithstanding
any other provisions of this SVP Plan to the contrary, if the SVP Plan Administrator determines in
accordance with Sections 409A and 416(i) of the Internal Revenue Code of 1986, as amended (the
“Code”) and the regulations promulgated thereunder that (a) a Participant is a Key Employee of the
Employer on his or her Termination Date and (b) following application of all applicable exceptions
and exclusions under Section 409A, a delay in all or a portion of the Severance Benefits (“409A
Delay Amount”) provided under this SVP Plan is necessary in order to comply with Code Section
409A(a)(2)(B), then any such 409A Delay Amount shall be delayed for a period of six (6) months
following the Participant’s Termination Date (such delayed distribution period referred to herein
as the “409A Delay Period”). In such event, any 409A Delay Amount that would otherwise be due and
payable to the Participant during the 409A Delay Period shall be paid to the Participant in a lump
sum amount within the first five calendar days of the month immediately following the end of the
409A Delay Period. For purposes of this Section 5.2, the term “Key Employee” shall mean an
employee who, on the SVP Plan’s Identification Date, is a key employee as defined in Section 416(i)
of the Code without regard to paragraph (5) thereof. For purposes of this Section 5.2, the term
“Identification Date” shall mean each December 31st. If a Participant is identified as
a Key Employee on an Identification Date, then the Participant shall be considered a Key Employee
for purposes of this SVP Plan during the period beginning on the first April 1 following a
particular Identification Date and ending on the following March 31.

     5.3. Death of Participant. If a Participant dies before Cash Severance and/or Pro
Rata Bonus Payout has been paid in accordance with the SVP Plan, such amounts shall be paid to his
or her estate. Any such payment will completely discharge the obligation of the Employer under the
SVP Plan and shall be paid on the same basis that the payment would have been made to the
Participant had he or she not died.

     5.4. Incapacity of Participant. If a Participant becomes physically or mentally
incompetent before Cash Severance and/or Pro Rata Bonus Payout has been paid in accordance with the
SVP Plan, the SVP Plan Administrator may make payment of Cash Severance and/or Pro Rata Bonus
Payout in one or more of the following ways:

	 	(a)	 	directly to such Participant;
	 
	 	(b)	 	to the Participant’s legal guardian; or
	 
	 	(c)	 	to the Participant’s spouse or to any person charged with his
or her care or support.

     Any such payment will completely discharge the obligation of the Employer under the SVP Plan
and shall be made on the same basis that the payment would have been made to the Participant had he
or she not become physically or mentally incompetent.

8

 

     5.5. Impact of Re-Employment by Employer. If a Participant obtains employment with an
Employer after the Termination Date but during the Regular Severance Period or the Change in
Control Severance Period, as the case may be, then (a) all Severance Benefits (other than any Pro
Rata Bonus Payout, which shall remain payable in accordance with Section 4.1 or 4.2 above, as the
case may be) not yet paid or rendered shall immediately cease and (b) it shall be a precondition of
such Participant’s re-employment by such Employer that the Participant shall repay a prorated
portion of the Cash Severance paid under Section 4 in accordance with this Section 5.5.

          5.5.1 Calculation of Repayment. The Cash Severance amount required to be repaid
(“Excess Cash Severance”) shall be equal to the difference between (a) the total Cash Severance
paid under Section 4, and (b) the Cash Severance equal to the number of weeks of pay that the
Participant was not employed by the Employer following the Termination Date up until the date of
re-employment by the Employer (rounded down to the nearest whole week).

          5.5.2 Terms of Repayment. Prior to the Participant being placed on the Employer’s
payroll, (a) the Excess Cash Severance must be repaid by the Participant to the Employer, and (b)
the Participant shall acknowledge in writing that the repayment of the Excess Cash Severance shall
not invalidate in any way or constitute a termination or waiver of his or her prior executed
General Release of claims or result in inadequate consideration with respect to such General
Release of claims.

          5.6. Deductions. Any amount payable to any Participant shall not be reduced by reason
of the Participant’s securing other employment with an entity unrelated to or unaffiliated with the
Employer.

	6.	 	CLAIMS

     6.1. Procedure. Any questions concerning eligibility to participate in the SVP Plan
and the payment of Severance Benefits under the SVP Plan should be directed to the SVP Plan
Administrator. All claims for Severance Benefits under the SVP Plan must be submitted, in writing,
to the SVP Plan Administrator within ninety (90) days following the Employer’s termination of the
individual’s employment. If such a written claim for benefits under the SVP Plan is denied by the
SVP Plan Administrator, in whole or in part, the individual submitting the claim (the “Claimant”)
will receive a written explanation of the benefits denial within ninety (90) days. If a claim is
denied, the written explanation will state:

	 	(a)	 	the specific reasons why the claim has been denied;
	 
	 	(b)	 	exact references to the applicable SVP Plan provisions or other
documents that deal with the claim and why it was denied;
	 
	 	(c)	 	a detailed description of any additional materials or
information needed for the claim to be processed and an explanation of why the
materials or information are needed; and
	 
	 	(d)	 	an explanation of the SVP Plan’s review procedure which
includes information on how to appeal the denial and a statement regarding the
Claimant’s right to bring a civil action under ERISA Section 502(a) following
an adverse benefit determination on review.

     6.2. Response and Appeal. If it is anticipated that it will take more than ninety
(90) days to process a claim, the Claimant will be furnished a written notice of the need for an
extension prior to the expiration of the original ninety (90) day period. Any such notice of
extension shall indicate the special circumstances requiring the extension of time and the date by
which the SVP Plan Administrator expects to render its decision on the claim for benefits;
provided, however, that any such extension shall not exceed ninety (90) days. If a response to a
Claimant’s claim for benefits (or notice of an extension for such decision) is not received within
ninety (90) days, the claim should be considered denied and the Claimant may appeal the denial in
accordance with the appeal procedure provided in this Section.

9

 

     In the event of the denial of a claim in whole or in part, the Claimant (or Claimant’s duly
authorized representative) has the right to file a written request for a review of the denial with
the SVP Plan Administrator within ninety (90) days after the Claimant receives written notice of
the denial. The SVP Plan Administrator will conduct a full and fair review of the claim for
benefits. The Claimant’s written request appealing the denial of benefits should contain: (i) a
statement of grounds on which the appeal is based, (ii) reference to the specific provisions in the
SVP Plan on which the appeal is based, (iii) the reason or argument why the Claimant feels the
claim should be granted and the evidence supporting each reason; and (iv) any other relevant
documents or comments the individual wishes to submit to support the appeal. As part of the appeal
process, a Claimant or the Claimant’s duly authorized representative may submit written comments,
documents, records and other information related to the claim. The Claimant will be provided, upon
request and free of charge, reasonable access to and copies of all documents, records, or other
information (all of which must not be privileged) relevant to the benefit claim.

     Upon receiving such an appeal, the SVP Plan Administrator will consider all comments,
documents, records, and other information submitted by the Claimant or the Claimant’s duly
authorized representative relating to the claim, without regard to whether such information was
submitted or considered in the initial benefit determination. The SVP Plan Administrator will
normally deliver a written decision on an appeal within sixty (60) days after the receipt of the
request for review or appeal unless special circumstances (such as the need to gather and review
additional information) require an extension of time, up to an additional sixty (60) days, for
processing the request. If such an extension is required, written notice of the extension shall be
furnished to the Claimant within the initial 60-day period. The SVP Plan Administrator may require
the Claimant to submit such additional facts, documents, or other material as it may deem necessary
or appropriate in making its review. The SVP Plan Administrator shall give prompt notice to the
Claimant of its decision on the appeal. If a decision on appeal is not received within the periods
specified above, the Claimant should consider the claim and appeal denied.

     In the event that the SVP Plan Administrator confirms the denial of the claim for benefits on
appeal, in whole or in part, such notice to the Claimant shall set forth, in a manner calculated to
be understood by the Claimant, the specific reasons for such denial, specific references to the SVP
Plan provisions on which the decision is based, a statement that the Claimant is entitled to
receive, upon request and free of charge, reasonable access to and copies of all documents, records
and other information relevant to the benefit claim, and a statement informing the Claimant of his
or her right to bring a civil action under ERISA Section 502(a).

     No legal action for benefits under the SVP Plan shall be brought unless and until the
Claimant: (i) has submitted a written claim for benefits in accordance with this Section; (ii) has
been notified by the SVP Plan Administrator that the claim is denied; (iii) has filed a written
request for a review or appeal of the denial of the claim in accordance with this Section; and (iv)
has been notified in writing that the SVP Plan Administrator has affirmed the denial of the claim.

	7.	 	BENEFITS OUTSIDE OF THE SVP PLAN 

     The Employer reserves the right to, and may on a case-by-case basis where special
circumstances so warrant, provide to an Employee or class of Employees outside the SVP Plan
supplemental benefits or benefits of a similar nature (but not necessarily the same) when no
Severance Benefits would have been payable under the terms of the SVP Plan. If either event
occurs, it shall be deemed to be a single event and not a separate on-going plan or program, it
shall not be a part of the SVP Plan, and it shall create no rights for any Employee other than an
Employee covered by the terms of the specific action taken by the Employer.

	8.	 	ASSIGNMENT OF BENEFITS

     Except as required by applicable law or as otherwise specifically allowed under the terms of
this SVP Plan, none of the benefits under the SVP Plan shall in any manner be assigned, pledged,

10

 

hypothecated, anticipated, garnished, or in any way made subject to any lien, and any attempt
to do so shall be void.

	9.	 	AMENDMENT AND TERMINATION

     This document, which sets forth all of the provisions of the SVP Plan, shall supersede any and
all prior oral or written negotiations, commitments, understandings and writings with respect to
separation, severance or any other similar benefits for all SVPs who become eligible to receive
benefits under the SVP Plan. The Company may modify, alter, amend or terminate this SVP Plan, in
whole or in part, at any time and in any manner not prohibited by law; provided, however, that any
such modifications, alterations, amendments or terminations that result in a reduction or
termination of any benefits payable or otherwise made available under this SVP Plan shall in no
event apply to any Employee who, immediately prior to any such subsequent modifications,
alterations, amendments or terminations, is an SVP. Notwithstanding any provisions of this SVP
Plan to the contrary, the Company reserves the right, to the extent the Company deems necessary or
advisable in its sole discretion, to unilaterally amend or modify this SVP Plan as may be advisable
to endeavor to render the Severance Benefits provided under this SVP Plan in a manner which
qualifies for an exemption from or complies with Section 409A of the Code; provided, however, that
the Company makes no representation, and explicitly disclaims any obligation to ensure that the
Severance Benefits provided under this SVP Plan will be exempt from or comply with Section 409A of
the Code.

	10.	 	LEGAL CONSTRUCTION

     This SVP Plan is governed by and shall be construed in accordance with the Code and ERISA and,
to the extent not preempted by ERISA, with the laws of the State of North Carolina.

11

 

SVP PLAN INFORMATION

This SVP Plan is an employee welfare benefit plan within the meaning of ERISA. The following SVP
Plan Information is provided in accordance with ERISA:

	 	 	 

	Plan Name:

	 	Dex One Corporation Severance Plan—Senior Vice President
	 
	 	 
	Plan Sponsor:

	 	Dex One Corporation
	 

	 	1001 Winstead Drive
	 

	 	Cary, NC 27513
	 
	 	 
	Employer Identification Number (EIN):

	 	13-2740040
	 
	 	 
	Type of Welfare Plan:

	 	Severance plan
	 
	 	 
	Plan Funding:

	 	The SVP Plan is unfunded and all benefits are paid from
the general assets of the Employer.
	 
	 	 
	Plan Administrator:

	 	Employee Benefits Committee
	 

	 	Dex One Corporation
	 

	 	1001 Winstead Drive
	 

	 	Cary, NC 27513
	 
	 	 
	Agent for Service of Legal Process:

	 	SVP Plan Administrator
	 

	 	Dex One Corporation
	 

	 	1001 Winstead Drive
	 

	 	Cary, NC 27513
	 
	 	 
	Plan Year:

	 	January 1 through December 31
	 
	 	 
	Plan Amendment or Termination:

	 	Dex One Corporation, as SVP Plan Sponsor, reserves the
right to amend or terminate the SVP Plan or any SVP Plan
benefit at any time or for any reason without prior
approval or notification of any party; provided,
however, that any such amendment or termination that
results in a reduction or termination of any benefits
payable or otherwise made available under this SVP Plan
shall in no event apply to any Employee who, immediately
prior to any such amendment or termination, is employed
as an SVP.

12

 

Participants’ Rights Under ERISA

Participants in the SVP Plan are entitled to certain rights and protections under ERISA. ERISA
provides that all Participants shall be entitled to:

Receive Information about SVP Plan and Benefits

	 	•	 	Examine, without charge, at the SVP Plan Administrator’s office and at other specified
locations, such as worksites, all documents governing the SVP Plan, including a copy of the
latest annual report (Form 5500 Series) filed by the SVP Plan, if applicable, with the U.S.
Department of Labor and available at the Public Disclosure Room of the Employee Benefits
Security Administration (“EBSA”).
	 
	 	•	 	Obtain, upon written request to the SVP Plan Administrator, copies of documents
governing the operation of the SVP Plan, including copies of the latest annual report (Form
5500 Series), if applicable, and updated summary plan description. The SVP Plan
Administrator may make a reasonable charge for the copies.

Prudent Actions by Plan Fiduciaries

	 	 	 	In addition to creating rights for SVP Plan participants, ERISA imposes duties upon the
people who are responsible for the operation of the SVP Plan. The people who operate the
SVP Plan, called “fiduciaries” of the SVP Plan, have a duty to do so prudently and in the
interest of Participants and beneficiaries. No one, including the Employer or any other
person, may fire or otherwise discriminate against a Participant in any way to prevent him
or her from obtaining a welfare benefit or exercising his or her rights under ERISA.

Enforcement of Rights

	 	 	 	If a claim for a welfare benefit is denied or ignored, in whole or in part, a Participant
has a right to know why this was done, to obtain copies of the documents relating to the
decision without charge, and to appeal any denial, all within certain time schedules.
	 
	 	 	 	Under ERISA there are steps a Participant in the SVP Plan may take to enforce the above
rights. For instance, if a Participant requests materials from the SVP Plan and does not
receive them within 30 days, the Participant may file suit in a Federal court. In such a
case, the court may require the SVP Plan Administrator to provide the materials and pay the
Participant up to $110 a day until the Participant receives the materials, unless the
materials were not sent because of reasons beyond the control of the SVP Plan Administrator.
If a Participant has a claim for benefits which is denied or ignored, in whole or in part,
the Participant may file suit in a state or Federal court. If it should happen that SVP
Plan fiduciaries misuse the SVP Plan’s money, or if a Participant is discriminated against
for asserting his or her rights, the Participant may seek assistance from the U.S.
Department of Labor or may file suit in a Federal court. The court will decide who should
pay court costs and legal fees. If a Participant is successful, the court may order the
person the Participant sued to pay these costs and fees. If a Participant loses, the court
may order the Participant to pay these costs and fees, for example, if it finds the
Participant’s claim is frivolous.

Assistance with Questions

A Participant who has any questions about the SVP Plan should contact the SVP Plan Administrator.
A Participant who has any questions about this statement or about rights under ERISA, or who needs
assistance in obtaining documents from the SVP Plan Administrator, should contact:

13

 

	 	•	 	the nearest office of the Employee Benefits Security Administration, listed in the
telephone directory; or
	 
	 	•	 	the Division of Technical Assistance and Inquiries, Employee Benefits Security
Administration, U.S. Department of Labor, 200 Constitution Avenue N.W., Washington, D.C.
20210.

A Participant may also obtain certain publications about rights and responsibilities under ERISA by
calling the publications hotline of the Employee Benefits Security Administration.

14

 

DEX ONE CORPORATION

SEVERANCE PLAN—SENIOR VICE PRESIDENT

PLAN DOCUMENT AND SUMMARY PLAN DESCRIPTION

(Effective as Amended October 14, 2010)

EXECUTION PAGE

     Dex One Corporation has caused this Plan Document and Summary Plan Description for the Dex One
Corporation Severance Plan — Senior Vice President to be executed by its duly authorized officer
this the 14th day of October, 2010.

	 	 	 	 	 
	 	DEX ONE CORPORATION

By the Dex One Corporation Employee
Benefits Committee

 	 
	 	By:  	/s/
Gretchen Zech 	 
	 	 	Authorized Officer 	 
	 	 	 	 
	 

     Dex One Service, Inc. (“Dex One Service”) hereby elects to become a participating Employer in
the Dex One Corporation Severance Plan — Senior Vice President (the “SVP Plan”), and hereby adopts
the SVP Plan as set forth herein effective January 1, 2011. Dex One Service hereby agrees to be
bound by all of the terms and provisions of the SVP Plan as amended from time to time. By
executing this instrument, Dex One Service shall be deemed to have appointed Dex One Corporation,
the Compensation and Benefits Committee of the Board of Directors of Dex One Corporation, and the
Dex One Employee Benefits Committee as its agents to exercise on its behalf all of the power and
authority conferred upon the Employer by the terms of the SVP Plan. Such appointment shall
continue until Dex One Service, Inc. withdraws as a participating Employer in the SVP Plan.

	 	 	 	 	 
	 	DEX ONE SERVICE, INC.

 	 
	 	By:  	/s/
Mark Hianik 	 
	 	 	Authorized Officer 	 
	 	 	 	 

15

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