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2003
149
Long Term
Compensation
Annual Compensation Awards Payouts
Name
And Principal
Position
Year
Salary
($)
Bonus
($)(1)
Other Annual
Compensation
($)
Securities
Underlying
Options
(#)
LTIP
Payouts
(#)
All Other
Compensation
($)
F.A. Dunn* 2003 868,750 –(2) – – 225,000(3) 26,145(4)(5)
President and Chief 3,540,000(6)(7) 745,000(7)(8)
Executive Officer 2002 825,000 – – 750,000(9) – 24,747(4)(5)
2001 564,833 – – 1,500,000(9)(10) – 16,806(4)(5)
P. Debon** 2003 590,000 743,400(11) – – 90,000(3) 92,346(12)(13)
President, Wireless 1,475,000(6)(14) 745,000(8)
Networks 2002 537,143 – – 250,000 – 125,875(12)(13)(15)
2001 440,417 – 68,713(15)(16) 650,000 – 332,020(13)(15)
S.L. Spradley** 2003 496,667 609,325(11) – – 575,000(8) 6,000(17)
President, Wireline 1,285,000(6)(14)
Networks 2002 354,275 – – 291,999(18) – 5,500(17)
2001 269,026 – – –(19) – 5,100(17)
C. Bolouri** 2003 510,000 589,050(11) – – 135,000(3) 63,404(4)(5)
President, Global 1,275,000(6)(14) 535,000(8)
Operations 2002 510,000 – – 250,000 – 18,358(4)(5)
2001 459,000 – – 700,000 – 27,440(4)(5)
N.J. DeRoma 2003 526,000 524,685(11) – – 135,000(3) 54,494(4)(5)
Chief Legal Officer 1,315,000(6)(14) 535,000(8)
2002 526,000 – 24,038(5)(20) 250,000 – 17,885(4)(5)
2001 493,750 – 62,921(5)(20) 650,000 – 27,642(4)(5)
* On April 27, 2004, Mr. Dunn’s employment as President and Chief Executive Officer of the Company and Nortel Networks Limited was terminated for cause and
Mr. W.A. Owens was appointed President and Chief Executive Officer of the Company and Nortel Networks Limited. The compensation for his successor Mr. W.A.
Owens, President and Chief Executive Officer of the Company and Nortel Networks Limited, is described below under “Certain employment arrangements”.
**
In accordance with the corporate reorganization announced by the Company on August 19, 2004, effective October 1, 2004, Messrs. Debon and Bolouri and Ms. Spradley
were, respectively, appointed to the positions of: President, Carrier Networks; President, Global Services; and President, Global Operations.
(1) Incentive cash awards for each fiscal year under the Nortel Networks Limited SUCCESS Incentive Plan (or SUCCESS Plan), including payments made in connection with
the “Return to Profitability” bonus program component of that plan, in respect of each of the fiscal years, whether or not deferred by the named executive officer. On
April 27, 2004, the Company and Nortel Networks Limited terminated for cause the employment of each of their then president and chief executive officer, chief financial
officer and controller. On August 19, 2004, the Company announced that seven individuals with, or who had, significant responsibilities for financial reporting at the line
of business and regional levels were terminated for cause. Nortel Networks has demanded from these individuals repayment of any payments made under bonus plans in
respect of 2003, including any awards under the SUCCESS Plan. See footnotes (6) and (7) below.
(2) Mr. Dunn did not receive an
y
annual incentive bonus under the SUCCESS Plan with res
p
ect to 2003. See footnotes (1), (6) and (7).
(3) Represents the number of restricted stock units issued and settled in respect of restricted stock units allocated under the 2001 program of the Nortel Networks Limited
Restricted Stock Unit Plan (or RSU Plan). Restricted stock units allocated in 2001 had a two year performance period that was divided into five shorter performance
segments. The performance criteria included resizing activity targets for the first segment, and corporate performance objectives