Exhibit 10.6
SUMMARY OF EXECUTIVE OFFICER BENEFITS AND BOARD OF DIRECTORS BENEFITS
AND FEES *
Description of Eligible Positions Amount/Schedule
Benefit
Automobile Chief Executive Officer $1,500/month
Allowance Chief Operating Officer $1,300/month
Division Presidents and $1,100/month
Executive Vice Presidents
Senior Vice Presidents $1,000/month
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Club Memberships Chief Executive Officer Club Membership &
and Dues $1,300/month dues allowance
Chief Operating Officer, Club Membership &
Division Presidents and $650/month dues
Executive Vice Presidents allowance
Senior Vice Presidents Continued use of a Club
Membership through the
date after 3/31/2005 on
which the executive's
continued employment
location is determined &
$650/month dues allowance
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Sprint Long-Distance Board of Directors $6,000/year (continues
Telephone and after retirement for up
PCS Service (1) to 120 months) and use
of Sprint PCS handsets,
accessories, equipment and
replacement parts related
to this service.
____________________________________________________________________________________
Sprint Long-Distance Chief Executive Officer, Actual usage (continues
Telephone Chief Operating Officer, after retirement)
Service (1) Division Presidents,
Executive and Senior Vice
Presidents
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Personal use Chief Executive Officer Under an executive
of corporate security program
aircraft established by the
Compensation Committee,
the CEO is required to use
Sprint aircraft for personal
as well as business travel.
Sprint provides these
security services for its
benefit rather than as a
personal benefit or
perquisite for the CEO.
Chief Operating Officer, The CEO must pre-approve
Division Presidents and any proposed personal use
Executive Vice Presidents of the corporate aircraft
not covered by a security for personal reasons. No
program that requires additional non-business
executive to use Sprint flights may be approved
aircraft for personal as once the compensation from
well as business travel. personal use exceeds $75,000
in a calendar year for any
executive ($150,000 aggregate
limitation for all executive
flights in a calendar year),
or the additional flight is
expected to materially exceed
either limitation. In
calculating these limitations,
a non-business flight is valued
under method used for proxy
disclosure (i.e., incremental
costs to the corporation under
current SEC rules).
_____________________________________________________________________________________
Miscellaneous services Chief Executive Officer and $15,000/year
(investment counseling, Chief Operating Officer
insurance counseling,
preparation of wills Division Presidents and $12,000/year
and trusts, tax Executive Vice Presidents
counseling, income tax
preparation, estate Senior Vice Presidents $10,000/year
planning, and personal
financial planning)
(1)(2)
_____________________________________________________________________________________
Executive Physical Chief Executive Officer, Reimbursement for Annual
Chief Operating Officer, Physical Examination
Division Presidents,
Executive Vice Presidents
and Senior Vice Presidents
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Disability Chief Executive Officer, 52 weeks at full base pay
Chief Operating Officer,
Officer, Division Presidents,
Executive and Senior Vice
Presidents
Separation Chief Executive Officer, 1 year salary and benefits
Chief Operating Officer, continuation plus lump sum
Division Presidents, bonus payment at conclusion
Executive and Senior
Vice Presidents (unless
otherwise
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provided in an individual of one year period equal to
agreement with an officer) 80 percent of target
opportunity
____________________________________________________________________________________
Fees Board of Directors Annual retainer - $50,000/
year
Additional Annual retainer
for Lead Director - $75,000/
year
Committee Chair additional
annual retainer
Audit Committee $10,000
Other Committees $7,500
Meeting Fee - $ 1,500/
meeting
Committee
Meeting Fee - $ 1,500/
meeting
Fee for In-person meetings of
Outside Directors and in-
person business meetings
attended on Sprint's behalf
- $ 1,500/
meeting
____________________________________________________________________________________
* This summary is effective beginning February 8, 2005. Before that date,
benefits and fees were as described in Exhibit 10(p) to the 10-K for the year
ended December 31, 2003.
(1) Sprint reimburses for income taxes associated with these benefits.
(2) With respect to tax years after 2002, Sprint's independent auditor may not
provide these services.
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