Policy on Executive Severance Agreements
The Corporation will not enter into any new employment agreement or severance agreement with an executive officer that provides for severance benefits exceeding 2.99 times the sum of the executive’s base salary plus non-equity incentive plan payment, without seeking shareholder ratification of the agreement. "Severance benefits" includes:

	Payments in connection with the termination of the executive’s employment;
	Payments for any consulting services;
	Payments to secure an agreement not to compete with Verizon;
	Payments to settle any litigation or claim;
	Payments or benefits that are not generally available to similarly situated management employees;
	Payments in excess of, or outside of, the terms of a plan or policy; and
	Payments to offset tax liability in respect of any of the foregoing.

Policy on Executive Compensation Consultant
During the tenure of the Human Resources Committee’s independent outside compensation consultant, the consultant shall not provide any services to the Corporation other than the services provided to the Committee.