This excerpt taken from the VZ DEF 14A filed Mar 23, 2009.
2008 Long-Term Plan Award Opportunities
For 2008, Ms. Toben and Messrs. Strigl, Barr and McAdam received 60% of their 2008 Long-Term Plan award opportunity in the form of PSUs and 40% in the form of RSUs. This allocation reflects the Committees focus on encouraging both outstanding relative TSR performance and the retention of the Companys highly-qualified senior management team. Because the Committee believes that the CEO has the primary responsibility for increasing the value of Verizons stock, Mr. Seidenbergs entire Long-Term Plan award opportunity for 2008, consistent with prior performance cycles, consists of PSUs. Also consistent with prior performance cycles, Mr. Seidenbergs 2008 award provides a separate opportunity to earn an additional payout. This additional opportunity is based upon the Companys performance relating to certain pre-established strategic initiatives. However, Mr. Seidenbergs total payout cannot exceed the maximum award value.
The following table shows the Long-Term Plan awards granted to the named executive officers during 2008. A description of the 2008 PSU awards, including the performance requirements, follows the table.
* As described on page 36, the Committee has the discretion to recommend that the Board increase the value of Mr. Seidenbergs award based upon performance relating to strategic initiatives.