VERIZON COMMUNICATIONS INC. LONG-TERM INCENTIVE PLAN
PERFORMANCE STOCK UNIT AGREEMENT
2003-05 AWARD CYCLE
AGREEMENT between Verizon Communications Inc. (“Verizon”) and the participant identified on the attached signature
page (the “Participant”).
1. Purpose of Agreement. The purpose of this Agreement is to provide a one-time grant of performance stock units
(“PSUs”) to the Participant.
2. Agreement . This Agreement is entered into pursuant to the terms of the 2001 Verizon Communications Inc. Long-Term
Incentive Plan (the “Plan”), and evidences the grant of a performance stock award in the form of PSUs pursuant to the Plan.
This Agreement is designed to comply with the requirements of Section 162(m) of the Code and the Treasury Department
Regulations thereunder. The PSUs and this Agreement are subject to the terms and provisions of the Plan. (The Participant may
request a copy of the Plan from the Verizon Compensation and Executive Benefits Department.) By executing this Agreement,
the Participant agrees to be bound by the terms and provisions of the Plan, and by the actions of the Plan Administrator, the
Human Resources Committee of Verizon’s Board of Directors or any successor thereto (the “Committee”), and any designee of
3. Contingency. The grant of PSUs is contingent on the Participant’s timely execution of this Agreement and satisfaction
of certain other conditions contained herein. If the Participant does not execute this Agreement and return it as provided on the
attached signature page within 30 business days of its receipt, the Participant shall not be entitled to the PSUs.
4. Number of Units . The Participant is granted the number of PSUs specified on the attached signature page as of
February 3, 2003. A PSU is a hypothetical share of Verizon’s common stock. The value of a PSU on any given date shall be
equal to the closing price of Verizon’s common stock as of such date. A PSU does not represent an equity interes