Nortel Networks 8-K 2010
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) April 20, 2010
NORTEL NETWORKS CORPORATION
(Exact name of registrant as specified in its charter)
Registrants telephone number, including area code 905-863-7000
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
The Boards of Directors of the registrant and its principal operating subsidiary, Nortel Networks Limited (NNL) approved, effective April 20, 2010, a mix of financial and operational metrics for the first half of 2010 under the Nortel Networks Limited Annual Incentive Plan for Nortel Business Services and Corporate Group (Incentive Plan For NBS and Corporate Group) with respect to the Corporate Group, including cash, cost management and numerous asset management and corporate operational milestones.
Mr. John M. Doolittle, Senior Vice-President, Corporate Services and Chief Financial Officer of the registrant and NNL is a participant in the Incentive Plan For NBS and Corporate Group. Mr. Doolittle is eligible for a target annual bonus of 100% of his base salary under the Incentive Plan For NBS and Corporate Group with his actual bonus determined based upon performance against the Corporate Group performance metrics under such plan.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: April 20, 2010