This excerpt taken from the VZ DEF 14A filed Mar 23, 2009.
2008 Company Results and Annual Performance Awards
Despite a recessionary economy, Verizon reported strong 2008 results including:
After considering the level of performance described above, the Committee and, for Mr. Seidenberg, the Board, approved payment of Short-Term Plan awards at 95% of the target level. The following table shows the amount of the Short-Term Plan awards paid to each named executive officer.