This excerpt taken from the VZ DEF 14A filed Mar 23, 2009.
The primary purpose of the 2009 STIP is to facilitate the Companys ability to achieve its short-term financial and operating goals by offering key employees at the senior management level performance-based annual incentive opportunities. Under the 2009 STIP, awards may be made based on achievement of key performance measures at the corporate, business unit and/or individual levels. By enabling the Company to attract and retain highly qualified employees, the 2009 STIP will be a factor in the Companys continued success. The 2009 STIP is substantially the same as the 2001 STIP.