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The following is a summary of the total number of outstanding stock options and the maximum number of stock options available for
grant:
Weighted-
Outstanding average Available
options exercise for grant
(thousands)
p
rice (thousands)
Balance at December 31, 2000 325,380 $ 32.06 114,223
Granted options under all stock option plans
(a)
55,565 $ 29.45 (55,565)
Options exercised (20,836) $ 6.53 –
Options cancelled
(b)
(56,793) $ 35.60 41,372
Options cancelled under the stock option exchange program
(c)
(93,416) $ 51.64 93,416
Balance at December 31, 2001 209,900 $ 23.86 193,446
Granted options under all stock option plans
(c)
120,335 $ 7.08 (120,316)
Options exercised (3,269) $ 1.81 –
Options cancelled
(b)
(70,093) $ 26.48 55,036
Balance at December 31, 2002 256,873 $ 15.52 128,166
Granted options under all stock option plans 74,924 $ 2.40 (74,924)
Options exercised (1,550) $ 1.99 –
Options cancelled (41,849) $ 17.94 34,755
Balance at December 31, 2003 288,398 $ 12.27 87,997
(a) Included options granted in relation to various acquisitions during the year ended December 31, 2001 of approximately 1,313.
(b) Included ad
j
ustments to assumed stock o
p
tion
p
lans.
(c) Approximately 93,416 stock options were tendered for exchange and cancelled. On January 29, 2002, Nortel Networks granted approximately 52,700 new stock
options in connection with the Exchange Program with exercise prices in the range of U.S. $7.16 to U.S. $7.78 or Canadian $11.39 per common share.
The following table summarizes information about stock options outstanding as of December 31, 2003:
Options outstanding Options exercisable
Weighted-
average
remaining Weighted- Weighted-
Number contractual average Number average
outstanding life exercise exercisable exercise
Range of exercise prices (thousands) (in years) price (thousands) price
$0.0084 - $2.3900 58,476 9.1 $ 2.32 1,148 $ 1.49
$2.3901 - $3.5852 19,088 8.9 $ 2.57 1,042 $ 2.71
$3.5853 - $5.3779 11,970 5.9 $ 4.80 6,671 $ 4.60
$5.3780 - $8.0670 82,156
(a)
6.5 $ 6.50 49,888 $ 6.67
$8.0671 - $12.1006 43,880
(a)
3.8 $ 9.50 41,186 $ 9.57
$12.1007 - $18.1510 18,220 3.7 $ 15.23 16,580 $ 15.18
$18.1511 - $27.2267 25,602 5.0 $ 23.20 25,026 $ 23.28
$27.2268 - $40.8402 9,185 5.3 $ 34.74 8,058 $ 34.25
$40.8403 - $61.2605 13,455 4.5 $ 51.60 12,987 $ 51.88
$61.2606 - $91.8900 6,366 4.7 $ 72.50 6,337 $ 72.49
288,398 6.30 $ 12.27 168,923
(b)
$ 17.79
(a) Included approximately 41,069 stock options granted under the Exchange Program.
(b) Total number of exercisable options for the years ended December 31, 2002 and 2001 were 156,632 and 132,969, respectively.
Restricted stock unit
p
lan
The Nortel Networks Limited Restricted Stock Unit Plan is a long-term incentive plan that generally provides executive officers and
certain senior management with the opportunity to receive RSUs over a specified period of time if assigned performance thresholds are
achieved and the joint leadership resources committee of the Boards of the Directors of Nortel Networks and NNL (the “Committee”)
determines, in its discretion, to issue and settle all or a portion of the allocated RSUs. Each RSU issued entitles the holder to receive one
common share of Nortel Networks Corporation