Employment Agreement - Qwest Communications International Inc. and Marc B. Weisberg
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QWEST COMMUNICATIONS
THE POWER OF CONNECTIONS
Joseph P. Nacchio
President & Chief Executive Officer
555 17th Street, Suite 1000
Denver, CO 80202
September 24, 1997
Marc B. Weisberg
6 Cherry Hills Farm Ct.
Englewood, CO 80110
Dear Marc:
I am delighted to be able to offer you the position of Sr. Vice President,
Corporate Development at Qwest Communications. This letter is intended to set
forth the terms and conditions of your employment with Qwest.
1. Your annual base salary will be $210,000.
2. You will be eligible to participate in Qwest's long-term incentive plan
(Equity Incentive Plan). You will receive a non-qualified option of 200,000
shares at the market price on September 26, 1997 exercisable over ten
years.
3. You will be eligible to participate in the executive bonus plan which is
currently under development. This plan is projected to have an upside
potential of a 40% bonus pay out. However, in your case, at the end of the
first year of your employment, you are entitled to a guaranteed bonus of
$80,000.
4. If you are terminated for any reason other than cause during your first
year of employment, you will be entitled to a lump sum payment of one
year's salary.
5. Paid time off and disability plan information is attached.
6. This offer of employment is contingent upon your statement that you are not
subject to any non-compete clause or similar restrictions which would in
any way prevent you from exerting all your efforts toward the goals and
objectives of Qwest.
Marc, I would like you to begin work at Qwest on Monday, September 29, 1997.
________________________________________
QWEST COMMUNICATIONS
555 SEVENTEENTH STREET DENVER, COLORADO 80202. 303-291-1400 FAX 203-291-1724
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Marc B. Weisberg
September 24, 1997
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Finally, I am really looking forward to your joining me at Qwest and working
together to make this a great company. If you agree with the above terms and
conditions, please sign below and return this letter to me. If you have any
questions or need more information, I can be reached at 303/291-1410 or feel
free to contact Ray Lee at 303/291-1688, who is working with me to help build
our senior management team.
Sincerely,
/s/ Joseph B. Nacchio
Joseph B. Nacchio
President
Chief Executive Officer
I accept the above offer:
/s/ Marc B. Weisberg 9-24-97
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Marc. B. Weisberg Date: