UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) April 20, 2010
NORTEL NETWORKS CORPORATION
(Exact name of registrant as specified in its charter)
| CANADA | 001-07260 | 98-0535482 | ||
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
| 5945 AIRPORT ROAD, SUITE 360, MISSISSAUGA, ONTARIO, CANADA |
L4V 1R9 | |||
| (Address of principal executive offices) | (Zip Code) | |||
Registrant’s telephone number, including area code 905-863-7000
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 5.02(e) |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
The Boards of Directors of the registrant and its principal operating subsidiary, Nortel Networks Limited (“NNL”) approved, effective April 20, 2010, a mix of financial and operational metrics for the first half of 2010 under the Nortel Networks Limited Annual Incentive Plan for Nortel Business Services and Corporate Group (“Incentive Plan For NBS and Corporate Group”) with respect to the Corporate Group, including cash, cost management and numerous asset management and corporate operational milestones.
Mr. John M. Doolittle, Senior Vice-President, Corporate Services and Chief Financial Officer of the registrant and NNL is a participant in the Incentive Plan For NBS and Corporate Group. Mr. Doolittle is eligible for a target annual bonus of 100% of his base salary under the Incentive Plan For NBS and Corporate Group with his actual bonus determined based upon performance against the Corporate Group performance metrics under such plan.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| NORTEL NETWORKS CORPORATION | ||
| By: | /S/ ANNA VENTRESCA | |
| Anna Ventresca General Counsel-Corporate and Corporate Secretary | ||
| By: | /S/ CLARKE E. GLASPELL | |
| Clarke E. Glaspell Controller | ||
Dated: April 20, 2010