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2009 TOTAL REWARDS OVERVIEW

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1 2009 TOTAL REWARDS OVERVIEW
VERIZON BUSINESS 2009 TOTAL REWARDS OVERVIEW HR Business Integration – Annie Verzi

2 STANDARD DISCLAIMER THE INFORMATION CONTAINED HEREIN IS ONLY FOR INFORMATION AND DISCUSSION PURPOSES. BENEFITS DESCRIBED ARE SUBJECT TO THE APPLICABLE PLANS, POLICIES AND PRACTICES, AND ANY DISCREPANCY BETWEEN THIS PRESENTATION AND THE ACTUAL PLANS, POLICIES AND PRACTICES WILL BE GOVERNED BY AND INTERPRETED IN ACCORDANCE WITH THOSE PLANS, POLICIES AND PRACTICES. THE COMPANY RETAINS THE SOLE DISCRETION TO AMEND ITS PLANS, POLICIES AND PRACTICES AT ANY TIME WITH OR WITHOUT NOTICE.

3 TOTAL REWARDS FOR YOUR CAREER AT VZB
THE VERIZON BUSINESS TOTAL REWARDS PLAN INCLUDES: COMPENSATION SAVINGS PLAN TIME-OFF ADDITIONAL EMPLOYEE PROGRAMS HEALTH AND WELL-BEING BENEFITS INCOME PROTECTION BENEFITS At Verizon Business we use the phrase Total Rewards to describe the overall investment we make in each of our employees.  Here is the list of Benefits we include I will be covering these in more detail The phrase “Total Rewards” describes our overall investment made for each employee

4 COMPENSATION

5 CAREER BANDS BAND BAND DESCRIPTION 8 OVERTIME ELIGIBLE PROFESSIONAL 7
PROFESSIONAL / INTERMEDIATE / ADVANCED INDIVIDUAL CONTRIBUTOR / TEAM LEAD 6 MANAGER / SENIOR INDIVIDUAL CONTRIBUTOR 5 FUNCTIONAL DIRECTOR 4 VICE PRESIDENT Career Bands: recognize broader job distinctions by using wider pay ranges; allow managers to reward for performance and increase responsibilities and level of accountability without re-leveling a position; encourage cross-functional development because of the opportunity for developmental increases (i.e., recognizing employees for taking a stretch or new assignment to enhance their skills); and Important to note that there are “Job Families” within each Band What distinguishes one band from the next: Experience/Knowledge/Formal training Analytical/Technical skills Job Complexity Decision Making Scope or impact Management guidance received Contacts Communication skills Jobs assigned to Bands with similar scope and complexity Bands accommodate varying levels of skills and responsibilities Employees have greater opportunity to broaden skills and abilities Career advancement/salary increase within Band is possible

6 PAY FOR PERFORMANCE BASE PAY Growth through development opportunities
Annual Merit process (eligible for the 2010 merit program based on 2009 performance) SHORT TERM INCENTIVES (STI) Potential cash rewards beyond base pay Pro-rated for transitioning employees (10/12th for 2009 performance paid in 2010) Stress Verizon Business is a Pay for Performance Company Employees will be eligible for a pro-rated STI award payment. BAND STI TARGET 6 20% 7 10% 8 7%

7 VZB EMPLOYEES ARE PAID CURRENT
HOW AND WHEN YOU ARE PAID: EMPLOYEES ARE PAID BASE SALARY ON A CURRENT BASIS Paid for the work performed over the previous week and the current week Premium Pay is paid one pay period in arrears EMPLOYEES ARE PAID ON A BI-WEEKLY BASIS 26 Pay Periods per calendar year First two Pay Periods – “live check” Employees at Verizon Business are “Paid-Current”. This simply means that when you receive a pay-check you’re getting paid for the previous two-weeks of work. You will receive checks bi-weekly. This is not twice-monthly – it’s bi-weekly, which is every two weeks. You’ll receive your check every other Friday throughout the year. This adds up to 26 checks each calendar year that you’ll receive. Note: JJSI employees are also paid current and are on the same pay cycle as Verizon. DOES NOT APPLY TO JJSI - Note that if you are a non-exempt, or hourly-based, employee who is eligible for overtime and standby pay, that is paid out one week in arrears

8 RECOGNIZE EMPLOYEES OVATION PROGRAM
Recognition for “above and beyond” performance Awarded points are redeemable for online merchandise or gift cards The Ovation program is an opportunity for management to recognize employees for contributing to our business results and demonstrating core values—innovation, integrity, respect, performance excellence, and accountability. In Verizon Business’ high performance culture, the behaviors used to achieve results are valued as much as the results themselves. By going above and beyond your regular responsibilities, you may be eligible to earn Ovation points. 

9 SAVINGS PLAN

10 VZB SAVINGS PLAN 401(k) SAVINGS PLAN PROVISIONS
Eligible to contribute upon hire Contribute from 1% to 25% of your eligible compensation limited to 16% for employees whose annual salary is $105,000 or more $49,000/year maximum (Pre-tax, After-tax, Roth 401(k) and Company Match) Additional $5,500 catch-up for employees 50 or older in 2009 Contributions are matched dollar-for-dollar up to 6% 3-year vesting requirement is waived per contract agreement Potential for up to 3% additional Discretionary Company Match Match is 50% in Verizon stock and 50% in cash Match may be diversified after 3 year vesting or age 50 The Verizon Business Savings Plan is a 401(k) plan that provides a convenient vehicle for you to save regularly for retirement through pre-tax employee payroll deductions.  Offers the advantages to tax-deferred investment earnings in a spectrum of professionally managed investment options from which you can pick those best fitting your personal situation and risk tolerance. The plan allows you to contribute from 1% up to 25% of our eligible compensation (limited to 16% for employees whose annual salary is $100K or more) in the US. Verizon Business will match your contributions dollar-for-dollar, up to 6%, each pay period. The IRS limited company match is up to $15,500 in 2008.  Other plan features include Web access, loans, direct rollovers, multiple investment funds, and daily valuations. The Company also provides an additional discretionary company match opportunity of up to 3% based on the performance of our business. Our plan is administered by Fidelity and you can rollover your current balance at any time. We will also permit transfer of loans

11 VZB SAVINGS PLAN CONTINUED
PLAN ADMINISTRATOR Plan administered by Fidelity Investments Rollover of current balance and loans permitted INVESTMENT OPTIONS Numerous investment options Change may be made to your contribution amount and investment allocation at any time ACCESS TO YOUR FUNDS Borrow up to 50% of the value of vested account balance Loans repaid through payroll deductions Minimum loan $1,000 and maximum loan $50,000 Two loan maximum at one time Our plan is administered by Fidelity and you can rollover your current balance at any time. We have a number of investment options and you can change your contribution amount and investment allocation at any time. You are also able to take up to two loans at one time which is paid through payroll deductions.

12 TIME-OFF

13 Short-Term Disability
TIME OFF SUMMARY 2009 PAID TIME OFF Holidays 7 days Personal 7 days Sick 8 days Vacation 2-5 weeks Short-Term Disability Up to 26 weeks Long-Term Disability varies Jury Duty varies Bereavement up to 3 days Military up to 36 months 2008 UNPAID TIME OFF Family Medical Leave Personal Leave Verizon Business offers a time off program with company-paid Holidays, Personal Days, Sick Leave days A company-paid Short-Term Disability (STD) benefit that pays 2 weeks at 100% an employee’s basic weekly earnings if disabled for each year of service (60% thereafter, up to 26 weeks) Long Term Disability coverage is designed to protect you against disabilities that last beyond 26 weeks. LTD coverage is optional and you may choose a benefit that pays 50 percent or 66-2/3 percent of your Annual Benefit Compensation. There are also additional days available for Jury Duty, Bereavement and Military Leave. This forms a solid core of time-off options that can be adapted to individual needs.

14 PAID TIME OFF VACATION Full time employees earn vacation based on years of service The higher vacation-earning rate becomes effective the month you begin your 3rd, 10th or 25th year of service On January 1st of each year, you are advanced the vacation time you would earn during the calendar year Ability to carry over up to 80 hours of vacation time each year with an 80-hour accrual maximum Because we are granting service credit you will accrue according to your service credit date. You accrue vacation on a monthly basis, however, you will be advanced the vacation time you would earn at the start of each year. CALENDAR YEAR WEEKS PER YEAR 40-HOUR WORKWEEK 0 – 2 years up to 2 3 – 9 years 3 10 – 24 years 4 25th year and beyond 5

15 PAID TIME OFF CONTINUED
HOLIDAYS New Year’s Day Labor Day Christmas Day Memorial Day - Thanksgiving Day Independence Day Day after Thanksgiving PERSONAL DAYS 7 days per year Pro- rated for transitioning employees Can be taken in half-day increments Non-exempt may take in hourly increments No carryover SICK DAYS 8 days per year Pro-rated for transitioning employees For personal illness or injury, immediate family member illness or injury, or medical/dental appointments for you or your immediate family member Full-time employees receive a day off with pay for seven company holidays: [Review Slide] Please note that some organizations may vary from the holidays listed in consideration of operational needs so you may want to check with your manager. In addition to the company holidays, you will also receive Pro-rated Personal Days and Pro-rated Sick Days. You may use Personal Days for a special commemoration, such as a religious observation or personal celebration, and must be taken in full-day increments. Sick Days are to be used for personal illness/injury, medical/dental appointments, or immediate family illness. Immediate family members are defined as your spouse, child, or parent. Sick Time may be taken in whole- or half-day increments. Although, if you are a non-exempt employee, you may take your incidental time in hourly increments. Personal and Sick Days and can not be carried over to the next calendar year.

16 PAID TIME OFF CONTINUED
SHORT TERM DISABILITY (STD) Company-paid 90-day waiting period for new hires Two weeks paid at 100% for each year of service with the VzB Remaining weeks are paid at 60%, up to 26-week maximum Plan pays benefits retroactive to first day of approved illness/injury Benefit payout is taxed Disability management by MetLife Verizon Business provides full-time employees with Short Term Disability (STD) income protection at no cost to you. The amount you receive if approved for a compensable illness/injury depends on how long you’ve worked for the company. For each year of service you complete, the plan provides 2 weeks of income protection at 100% of your weekly basic earnings, then 60% for the remaining weeks of disability, up to the 26-week maximum. For example, if you have completed 5 years with the company, you will have earned 10 weeks paid at 100%, and the remaining 16 weeks of disability would be paid at 60%. Your benefits will be taxed and any payroll deductions will continue while on Short Term Disability. This plan begins paying 100% of your base pay for any compensable illness/injury for a maximum of 26 weeks for the interim period before long-term disability kicks in after you satisfy a seven calendar day elimination period. This means that you must be disabled for at least seven continuous calendar days before STD benefits will be paid. However, once your illness/injury is approved by MetLife, the benefit payout is retroactive to Day 1.

17 PAID TIME OFF CONTINUED
MILITARY Difference between regular pay and military pay for duration of leave Up to 36 cumulative months Must provide supporting documentation BEREAVEMENT 3 days for immediate family member 1 day for close relative 1 additional day if travel or extenuating circumstances warrant Management/HR may request supporting documentation JURY DUTY Paid time off is available if summoned for jury duty Must provide summons WORKER’S COMPENSATION Compensable occupational-related injury or illness Notify management of any injury/illness you believe to be work-related Other types of paid time off available Review chart

18 UNPAID TIME OFF POLICIES
FAMILY MEDICAL LEAVE Up to 12 weeks of unpaid leave is available during any 12-month period: to care for your child after birth, adoption or foster care placement; to care for your spouse, child, or parent with a serious health condition, or for your own serious health condition; or when your spouse, child, or parent is called to or on active military service Up to 26 weeks of unpaid leave in a single 12-month period is available to care for your spouse, child, or parent recovering from an illness or injury suffered while on active military duty PERSONAL LEAVE Up to 26 weeks unpaid leave is available during any 12-month period if you: are in good standing and employed with company for at least 90 days; and are required to be absent from work for a valid personal reason not covered by any other time off policy PERSONAL LEAVE - MEDICAL do not qualify for FMLA and are unable to perform the essential functions of your job due to a medical condition recognized as a disability under ADA WITNESS DUTY Unpaid time off available if summoned to appear in court as a witness Several Types of unpaid leave are also available…

19 ADDITIONAL EMPLOYEE PROGRAMS

20 COMPANY PAID PROGRAMS EMPLOYEE ASSISTANCE PROGRAM
Confidential 24/7 service in the areas of family & care giving, health & wellness and daily living Available to you and all the members of your household TUITION ASSISTANCE Up to $8,000 per calendar year for full-time employees Up to $4,000 per calendar year for part-time employees ADOPTION ASSISTANCE Maximum benefit of $10,000 for full-time employees Up to $5,000 benefit for part-time employees working 20 or more hours per week Three additional company paid programs

21 EMPLOYEE ASSISTANCE PROGRAM (EAP)
FAMILY AND CARE GIVING Adoption Child Care Parenting Senior Care HEALTH AND WELLNESS Living healthy Personal Assessments Interactive Tools DAILY LIVING Consumer information Travel and recreation Financial & Legal Assistance Up to 5 face-to-face sessions Crisis intervention Verizon Business provides an Employee Assistance Program to help employees. The EAP is a no-cost benefit for employees, dependents, and household members. It is confidential and accessible 24 hours a day, 365 days a year. Telephone assistance and/or up to 5 face-to-face sessions are available for issues such as: Family and Care giving, Health and Wellness, and Daily Living Confidential hours a day days a year Available to you and all the members of your household

22 TUITION ASSISTANCE PROGRAM
Full-time employees eligible for up to $8,000 annually Part-time employees working greater than 20 hours per week are eligible for up to $4,000 annually Eligible on your transition date Traditional Degrees (Director approval) Accredited professional certifications (VP approval) Reimbursement for books and lab fees count toward maximum Minimum grade of “C” or equivalent Completion of online application required Payroll tax will be applied to amounts exceeding IRS limit of $5,250 The Tuition Assistance Program can help you with your professional development at Verizon Business by providing reimbursement for courses of study that support your current business goals as well as future company strategies, while at the same time meeting your own individual goals. The amount available through this program is limited to $8,000 per calendar year for full-time employees Accredited professional certifications and traditional degree programs are allowed under the program. Degree programs require director approval, while professional certifications require approval from your VP. Payroll tax will be applied to amounts exceeding IRS limit of $5,250

23 ADOPTION ASSISTANCE PROGRAM
Full-time employees eligible for up to $10,000 per adoption Part-time employees working 20 or more hours per week are eligible for up to $5,000 per adoption Eligible on your transition date An adopted child must be: Under 18 years of age 18 or older and physically or mentally incapable of caring for himself or herself Eligible expenses include, but are not limited to: Legal fees and/or Court costs Temporary child care expenses prior to placement in the employee’s home Necessary medical expenses relating to the child being adopted Fees to licensed agencies that provide adoption Medical expenses for the biological mother related to the birth of the child Transportation and travel expenses for anyone connected with the adoption Tax consequences pertaining to eligible adoption assistance reimbursement are the exclusive responsibility of the employee

24 TRAINING & DEVELOPMENT OPPORTUNITIES
GENERAL TRANING Soft-skills Work-skills LINE OF BUSINESS TRAINING Sales Product Technical Other MANAGEMENT Managers and above DEVELOPMENT Various activities Mentoring, job-shadowing, seminars, etc Check with your manager In addition to the tuition assistance program is your ability to access training and education programs online The online training resource center offers you a wide range of flexible training opportunities with over 2,000 self-paced course and over 9,000 books and reference material available to you any time Available online

25 OTHER AUTO & HOME INSURANCE PROGRAM
Access to discounted Auto and Home Insurance Choice of three insurance carriers Travelers Liberty Mutual MetLife Auto & Home® Pay premiums through payroll deduction, EFT (Electronic Funds Transfer), or direct bill Enroll at any time We also offer home and auto programs which you can compare to get the best possible coverage at the best cost.

26 EMPLOYEE DISCOUNT PROGRAMS
AUTO & HOME INSURANCE EDUCATION ELECTRONICS EVENTS HEALTH & FITNESS HOSPITALITY PERSONAL FINANCE RESIDENCE RETAIL TELECOMMUNICATIONS VEHICLE DISCOUNTS Another Total Rewards benefit that you can take advantage of is our Employee Discount Program. Verizon Business works with various vendors to offer you extraordinary savings on products and services, such as automobiles, retail stores, etc.

27 HEALTH & WELL-BEING BENEFITS

28 BENEFITS SUMMARY Health is important to you and Verizon Business, which is why we offer some of the best benefit options in the industry. Medical Pharmacy Dental Vision Life Insurance Disability Income Protection Employee Assistance Your Health and Well-Being – another aspect of your Total Rewards package – includes high-quality healthcare and insurance options, which you can choose based on your and your family’s needs. We choose these options carefully so that you can get the most value out of your coverage. Health Management Programs Health Care Reimbursement Account Dependent Care Reimbursement Account

29 BENEFITS INFORMATION HEALTH & WELL-BEING MEDICAL PRESCRIPTION DRUG
DENTAL VISION INCOME PROTECTION BASIC LIFE AND AD&D INSURANCE SUPPLEMENTAL LIFE INSURANCE VOLUNTARY AD&D INSURANCE LONG-TERM DISABILITY INSURANCE REIMBURSEMENT ACCOUNTS Verizon Business offers a competitive, comprehensive benefits package. Our health & welfare benefits make healthcare affordable, while our life and disability plans help ensure you are protected financially in the event of a health crisis or death. I’d like to spend some time going into more detail about all the options available.

30 MEDICAL PLAN OPTIONS PPO PLUS MEDICAL PLAN Lowest pay period deduction
Highest deductible BASIC MEDICAL PLAN Low pay period deduction Higher out-of-pocket cost for care HIGH MEDICAL PLAN Higher pay period deduction Lower-out of pocket cost for care OUT-OF-AREA MEDICAL PLAN Indemnity plan available only to employees who live outside United Healthcare's service area NO COVERAGE The Verizon Business Basic, High, and Out-of-Area medical plans are administered by United Healthcare and offer numerous benefits. You do not need to select a primary care physician or obtain referrals to see a specialist. Your level of coverage simply depends on whether you choose an in-network or out-of-network doctor. Each time you need medical care, you decide if you want to use a provider who participates in United Healthcare's network or one who does not. If you use a network provider, you will receive a higher level of benefits than if you choose to use an out-of-network provider. The plans cover preventive services, including annual physicals. Smoking cessation and more. The coverage area is national, which means coverage is available when you travel and for your students or eligible children living out of state. The medical plan options are based on your home ZIP code. The Out-of-Area plan will be offered only to those employees who live outside of United Healthcare's network area. Waiving medical coverage is also an option if you have access to coverage elsewhere. A credit is not awarded if waiving coverage.

31 HEALTH MANAGEMENT PROGRAMS
VERIZON HEALTHZONE online health portal that allows you to identify your health risks, improve your lifestyle, manage your health through condition-specific assessments and keep track of your healthy living goals NurseLineSM* dedicated nurses are available telephonically to members with specific health questions. Members receive advice and guidance for their health care. HEALTHY WEIGHT PROGRAM* work with an online health coach, learn about nutrition and fitness, build a customized weight loss plan, learn how to maintain a healthy weight, and access a variety of online health tools HEALTHY BACK PROGRAM* an online program with telephonic counseling that targets individuals whose back pain becomes a recurring or long-term issue HEALTH PREGNANCY PROGRAM* provides expectant mothers with health education and information before and after delivery CANCER RESOURCE SERVICE* available for any kind of cancer diagnosis, with an emphasis on getting accurate diagnoses and appropriate health care OTHER HEALTH MANAGEMENT PROGRAMS* provide one-on-one help to deal with other chronic health conditions such as diabetes, coronary artery disease, congestive heart failure and asthma. When you enroll in a Verizon Business medical plan, you will also have access to a variety of free and confidential health management programs that can help you and your family live healthier lives Review chart *available only to United Healthcare medical plan participants

32 PERSCRIPTION DRUG PROGRAM
Offered to medical plan participants Network Participating Pharmacies (intended for 30-day prescription/refill) Home Delivery Services (intended for 90 day prescription/refill) Administered by Medco

33 DENTAL PLAN OPTIONS DENTAL DMO
Must use Aetna’s network of DMO Dentists Must designate a Primary Care Dentist No charge for most preventative services Other dental services are a set-fee, plus an office visit co-payment No deductibles or claim forms Limited network DENTAL PPO Use network or non-network Dentists Receive a higher level of coverage when using a network Dentist OUT-OF-AREA DENTAL PLAN Indemnity plan available only to employees outside the network service area NO COVERAGE The Verizon Business dental plans are administered by Aetna. Your dental plan options are based on your home ZIP code. In summary: The DMO is a cost-efficient plan. For example, you pay a set co-payment for your office visit and each type of service you receive. There are no deductibles and no dollar annual maximums. However, you must also strictly follow the governing rules. With the Verizon Business Dental PPO plan, you have two ways to seek care: Visit a Participating Dentist: When you visit a participating dentist, you will generally need to meet your annual deductible before the dental plan begins to cover your eligible dental expenses. Once your deductible is met, you will pay a coinsurance amount based on the type of services you receive. Additionally, participating dentists have agreed to offer certain services at a negotiated rate, so you generally pay less out-of-pocket for covered services, and the dentist will submit your claims for you. Visit a Non-participating Dentist: You also have the freedom to visit a licensed dentist who does not participate in Aetna’s PPO network. However, your out-of-pocket expenses may be higher when you visit a nonparticipating dentist. Additionally, you may have to file your claims. The Out-of-Area plan allows you to use any dentist, but is offered only to employees who live outside of Aetna’s Dental PPO network area. And, of course, waiving dental coverage is also an option if you have access to coverage elsewhere.

34 VISION PLAN OPTIONS VISION PLAN
Administered by Vision Service Plan (VSP) Covers annual eye examination Benefit available for lenses and frame or contact lenses Discounted rates for laser surgery NO COVERAGE Vision coverage is an elective benefit available as well to help you save on eye exams, lenses, frames, and contact lenses. Discounted fees are also available for laser vision correction surgery. The vision plan is administered by Vision Service Plan (VSP).

35 REIMBURSEMENT ACCOUNT OPTIONS
HEALTH CARE REIMBURSEMENT ACCOUNT (HCRA) Set aside pre-tax dollars for eligible healthcare expenses not covered by your plan benefits Reimburses expenses for you or your IRS-qualified dependents, even if not covered under the Verizon Business benefit plans Contribute $100 to $5,000 per year tax-free DEPENDENT CARE REIMBURSEMENT ACCOUNT (DCRA) Set aside pre-tax dollars for child or adult care expenses Contribute $100 to $5,000 a year tax-free PAYFLEX MASTERCARD Use debit card nationwide wherever MasterCard is accepted to avoid paying out-of-pocket We offer two reimbursement account options When you enroll, you will automatically receive a Payflex Mastercard debit card. The card can be used nationwide wherever MasterCard is accepted.

36 LIFE INSURANCE AND AD&D COVERAGE
BASIC LIFE & AD&D – COMPANY PAID Automatic coverage – no elections required One times your Annual Benefit Compensation (ABC) (ABC = base pay plus STI awards or commissions, if eligible) SUPPLEMENTAL LIFE & VOLUNTARY AD&D – EMPLOYEE PAID SUPPLEMENTAL LIFE: Employee: Up to 8 times your Annual Benefits Compensation Spouse/SGDP: available in $25,000 increments, maximum $300,000 Child: available in $5,000 increments, maximum $25,000 VOLUNTARY AD&D: Employee: Up to 10 times your Annual Benefits Compensation Spouse/SGDP: 50% or 100% of employee amount, maximum $500,000 Child: 10% of employee amount, maximum $75,000 Basic life insurance provides coverage at 1 times your Annual Benefits Compensation, at no cost to you. Accidental Death and Dismemberment (AD&D) insurance provides coverage for death due to accident and also reimburses a portion of the amount in the event of dismemberment. Verizon Business also provides basic AD&D coverage at 1 times your Annual Benefits Compensation, at no cost to you. Additional life insurance coverage is available if you feel you need additional coverage to help protect your family’s future, you may also choose higher levels of insurance for yourself or your dependents through the supplemental life and voluntary AD&D plans. Coverage is available for you, your spouse or same gender domestic partner, and your eligible dependent children. . An added feature of the AD&D plan is a personal Travel Assistance benefit. The Travel Assistance program is administered by Zurich. The program is available when traveling more than 100 miles from your home and provides services for Medical, Legal, Informational, and Personal Assistance.

37 LONG-TERM DISABILITY COVERAGE OPTIONS
EMPLOYEE PAID BENEFIT FOR FULL-TIME AND PART-TIME EMPLOYEES WORKING 20 OR MORE HOURS PER WEEK 50% of your weekly basic earnings 66-2/3% of your weekly basic earnings No Coverage PROVIDES INCOME PROTECTION IF YOU ARE DISABLED FOR AN EXTEDED PERIOD OF TIME Benefit begins the 27th week of disability Deductions taken after-tax Benefit payout is not taxed Pre-existing condition exclusions apply to New Hires and those currently without coverage, does not apply for Oakridge transitioning employees Long Term Disability is an elected, employee-paid benefit that provides income protection to full-time employees in the event you become disabled. When it comes time to enroll, it’s important to know that if you enroll for LTD coverage during your initial enrollment period, you do not need to provide Evidence of Insurability (EOI). However, if you choose to waive LTD during your initial enrollment and wish to elect it during a future Annual Enrollment period, you will be required to provide EOI. Also keep in mind that there is a pre-existing condition limitation, which means benefits will not be paid for any disability related to a pre-existing condition, unless the disability begins after the coverage has been in effect for 12 months. Both the Short-Term and Long-Term Disability plans are managed by MetLife.

38 VZB HUMAN RESOURCES SUPPORT
QUESTIONS? We covered a great deal of information today. I’d like to take time now to answer any questions you may have while we have the team online with us. If you have any questions that you do not feel comfortable asking now on this call, or you think of a question later, do not hesitate to contact us using contact information provided. We will work to get an answer to you as soon as possible. A recording of this presentation will be available for the next 30 days, so feel free to come back and visit the presentation. The replay link was contained in your original session invite sent to you from Kelli.

39 THANK YOU! We look forward to working with you and supporting you in the future as a member of the Verizon Business Team!


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