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This excerpt taken from the VZ DEFA14A filed Apr 7, 2009. Shareholder Approval of Short- and Long-Term Incentive Plans In addition to the advisory vote on compensation, Verizon’s incentive plans are being submitted for shareholder approval at the 2009 Annual Meeting. These plans also reflect sound compensation practices. For example, although Verizon has never done so, the Long-Term Incentive Plan explicitly prohibits the Company from repricing options without shareholder approval. Approval of the incentive plans will also allow the Company to offer performance-based awards that are tax deductible under Internal Revenue Code Section 162(m). We appreciate your investment in Verizon and your taking the time to consider the Company’s proposals. We encourage you to support the Board’s positions. Sincerely,
Enclosure
This excerpt taken from the VZ DEFA14A filed Mar 30, 2009. Shareholder Approval of Short- and Long-Term Incentive Plans In addition to the advisory vote on compensation, Verizon’s incentive plans are being submitted for shareholder approval at the 2009 Annual Meeting. These plans also reflect sound compensation practices. For example, the Long-Term Incentive Plan prohibits any repricing of options without shareholder approval and its provisions are in alignment with RiskMetrics Group’s guidelines. Approval of the incentive plans will also allow the Company to offer performance-based awards that are tax deductible under Internal Revenue Code Section 162(m). I will be contacting you shortly to schedule a discussion regarding Verizon’s executive compensation program. The Committee and I appreciate your review of the proposals in the enclosed Proxy Statement. Sincerely,
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