Sprint - Nextel 2013 Annual Report Download - page 91

Table of Contents
Nonqualified Deferred Compensation
Certain employees, including our named executive officers, are entitled to participate in the Sprint Corporation Deferred Compensation Plan, a
nonqualified and unfunded plan under which participants may defer to future years the receipt of certain compensation. For 2013, the plan permitted participants
to defer up to 50% of base salary and up to 75% of their STIC plan payout. To compensate participants for federal tax law limitations under our 401(k) plan, we
match deferrals to the plan using the same matching contribution formula as our 401(k) plan for eligible compensation above the applicable annual limit, which
for 2013 was $255,000. Of our named executive officers, only Mr. Hesse participated in this plan with respect to compensation earned during 2013. The table
below summarizes the information with respect to this plan and the activity and balances with respect to the account of each named executive officer.
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Compensation deferred by participants and any matching contributions made by us are credited to a bookkeeping account that represents our
unsecured obligation to repay the participant in the future. Participants elect to allocate deferred and matching contributions among one or more hypothetical
investment options, which include one option that tracks our common stock and other options that track broad
- based bond and equity indices. Participants may
change hypothetical investment elections only four times a year and at least three months must elapse between each change. Under the plan, the amount of our
unfunded obligation is determined by tracking the value in the bookkeeping account according to the performance of the hypothetical investments.
Potential Payments upon Termination of Employment or Change in Control
Upon a December 31, 2013 termination of employment due to a resignation without good reason or termination by us with cause, our named
executive officers would be entitled to only those payments and benefits provided to all our salaried employees on a non
- discriminatory basis, including:
In addition, while none of our named executive officers satisfied the age and service requirements as of December 31, 2013, had their termination been
at their normal retirement, they would be entitled to receive (consistent with benefits provided to all our salaried employees) (1) the 2013 STIC plan award
payable based on actual performance, (2) the 2011 LTIC plan performance unit award payable based on actual performance through 2012 and at target for the
2013 performance period and accelerated vesting of options granted with exercisability thereof for five years and of (except for those granted under the 2013
LTIC plan) RSUs granted with performance
- based RSUs payable at target; and (3) continued participation in group life and health plans.
For more information on the retirement and deferred compensation benefits available to our named executive officers, see "—Setting Executive
Compensation—Other Components of Executive Compensation."
Pursuant to the terms of our named executive officers' respective employment agreements or our Change in Control Severance Plan (CIC Severance
Plan), upon an involuntary termination without cause or resignation for good reason (in connection with a change in control or not) or a termination in
connection with their disability or
89
Name
Executive
Contributions in
Last FY ($)
(1)
Registrant
Contributions in
Last FY ($)
(2)
Aggregate
Earnings in
Last FY ($)
Aggregate
Withdrawals/
Distributions($)
Aggregate
Balance at
Last FYE
($)(3)
Hesse
162,734
119,711
16,255
—
1,151,715
Euteneuer
—
—
—
—
—
Elfman
—
—
—
—
—
Johnson
—
—
—
—
—
Wunsch
—
—
1,697
—
136,245
Alves
—
—
952
116,531
—
(1)
Includes contributions by Mr. Hesse with respect to 2013 base salary and 2013 STIC plan compensation, the amounts of which are included in the 2013 Summary
Compensation Table in the "Salary" and "Non-Equity Incentive Plan Compensation".
(2)
Represents matching contributions by us with respect to 2013 base salary deferrals on STIC plan compensation paid in 2014 but earned in 2013 and will not be credited to
Mr. Hesse's account until March 20, 2014, the respective amounts of which are included in the 2013 Summary Compensation Table in the "All Other Compensation"
column.
(3)
Represents the aggregate balance as of December 31, 2013, which does not include the matching contribution noted in footnote 2 above.
•
accrued salary and vacation pay; and
•
payment of any vested balances or accrued benefits under our 401(k) plan, deferred compensation plan, pension plan, and supplemental
executive retirement plan.