Exhibit 10(g)
SPRINT CORPORATION
Special Incentive Plan
1.0 Establishment
1.01 The Special Incentive Compensation Plan is effective August 7,
2000.
2.0 Definitions
2.01 "Board" is the Board of Directors of Sprint Corporation.
2.02 "Committee" is the Organization, Compensation and Nominating
Committee of the Board.
2.03 "Company" is Sprint Corporation.
2.04 "Employee" is any person (including officers and directors of the
Company) employed by the Company, or a subsidiary of the Company.
2.05 "Participant" is an employee designated by the Committee to
participate in the Plan.
2.06 "Senior Officer" is an officer of the Company holding the office of
Senior Vice President or higher.
3.0 Purpose
3.01 The Plan is intended to refocus and re-energize Employees on selected
important initiatives of the Company.
4.0 Administration
4.01 The Committee will be responsible for the administration of the
Plan. This Committee is authorized to interpret the Plan, to
prescribe, amend, and rescind rules and regulations deemed advisable
to protect the interests of the Company, and to make all other
administrative determinations necessary. Any determination,
interpretation or other action made or taken by the Committee
pursuant to the Plan's provisions will be final for all purposes and
upon all persons.
4.02 The Committee may delegate to a Senior Officer or a Committee of
Senior Officers the right to select participants and grant awards
under the Plan to employees who are not Senior Officers. The Senior
Officer or Committee of Senior Officers shall have the same
powers with respect to such awards as the Committee has under
this Plan, provided
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that all decisions must be within the boundaries of the
Compensation Philosophy established by the Committee.
5.0 Performance Cycle
5.01 A Performance Cycle consists of a period of time determined by the
Committee.
6.0 Performance Criteria
6.01 For each Performance Cycle, the Committee will determine the factors
to be used for measuring performance.
7.0 Adjustments
7.01 The Committee may make adjustments in the Performance Criteria
to compensate for any changes that significantly alter the basis
upon which the Criteria were determined. These adjustments may
be made before or after the end of the cycle. To the extent the
Committee deems appropriate, all changes will be binding upon all
parties concerned during the Cycle.
8.0 Participation
8.01 For each Performance Cycle, the Committee will determine which key
employees, who are in a position to influence the Company's
success, will participate in the Plan.
8.02 Employees hired or promoted during a Performance Cycle into a position
appropriate for participation in this Plan may either participate in
the already existing Performance Cycle on a prorated basis, or be held
out until the beginning of the next Performance Cycle. This
determination will be made by the Committee.
9.0 Payment
9.01 The Committee will determine the incentive opportunity (or
possible cash payment) earned by each participant for any
Performance Cycle.
9.02 The Committee will approve the payment of any award made under the
Plan. Payments will be made following the end of each Performance
Cycle.
9.03 The department or affiliated company where the employee is located
at the end of the Performance Cycle year is responsible for the
total Performance Cycle payout, including any pro rata awards from
other
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plans. Management at the final location is responsible for
determining the level of payout for the entire Performance Cycle year.
The participant's former company or department is to be solicited
to determine the prorata payout from other plans.
10.0 Termination of Employment
10.01 If termination of employment occurs during a Performance Cycle by
reason of death, disability (as determined under the Company's
long-term disability program), normal retirement (as determined
under the Company's retirement plan), or involuntary termination
not for cause the Participant will be entitled to a prorated award
based upon appropriate Performance Criteria. The Committee will
determine the prorated award under the rules and regulations it
establishes. The award will be paid when all other payments are made
at the end of the cycle. Should an employee terminate to immediately
become employed by an affiliated organization, a pro rata payment
may also be extended. If termination of employment occurs for reasons
other than death, disability, normal retirement, transfer or
involuntary termination not for cause the Participant's interests and
rights in this Plan will be forfeited, unless otherwise determined by
the Committee.
11.0 Non-Transferability
11.01 An employee's rights and interests under the Plan may not be sold,
pledged, assigned or transferred in any manner other than by will or
by the laws of descent and distribution except as provided by the
Plan or specified by the Committee.
12.0 Tax Withholding
12.01 The Company retains the right to deduct from all awards paid in cash
any taxes required by law to be withheld with respect to cash
awards.
13.0 Continuance of Employment
13.01 Nothing under the Plan or any action taken because of Plan will be
construed as giving any employee any right to be retained in the
Company's employ.
14.0 Amendment and Termination
14.01 The Board, at any time may terminate, and at any time and in any
respect may amend or modify the Plan.
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15.0 Legal Requirements
15.01 The designation of participation and any opportunity in the Plan,
together with the payment of cash, will be subject to all
applicable federal, state and local laws, rules and regulations.
15.02 The Plan and all related provisions will be construed in accordance
with and governed by the laws of the State of Kansas.
