FORM OF ADDENDUM TO
VERIZON COMMUNICATIONS INC. LONG-TERM INCENTIVE PLAN
PERFORMANCE STOCK UNIT AGREEMENT
This is an addendum to the Performance Stock Unit Agreement (the “Agreement”) entered into between Verizon
Communications Inc. (“Verizon” or the “Company”) and (the “Participant”). The effective date of this addendum is
, and it shall remain in effect through .
1. Purpose. The purpose of this addendum is to describe the terms of an arrangement between the Participant and the Company
wherein the Participant can earn a long-term incentive payout under the Agreement, based on the extent to which the Company
achieves certain strategic initiatives (as defined in paragraph 3 below) during the Award Cycle. Except as modified by this
addendum, all of the terms and conditions of the Agreement shall remain in effect.
2. Payment. Subject to the limitation set forth in paragraph 4 below, the Committee shall have the sole discretion to determine
the size of any additional payment pursuant to this addendum, based on the Company’s achievement of the strategic initiatives
referred to in paragraph 3 below. This addendum and any payment made in accordance with this addendum are not intended to
comply with the Performance-Based Exception to the tax deductibility limitation imposed by Code Section 162(m).
3. Achievement of Initiatives. The Committee shall have the sole discretion to determine whether the Participant is entitled to a
payout pursuant to this addendum and the size of any such payout (subject to the limitations contained in paragraph 4 below),
based on the Company’s achievement during the Award Cycle of certain strategic initiatives related to: (i) developing Verizon’s
executive talent pool and preparing for Verizon’s succession plan; (ii) maintaining Verizon Wireless’ market leadership position;
(iii) sustaining Verizon’s top line consolidated revenue growth at 3-5%; (iv) producing double-digit consolidated earn