Exhibit 10.2
Award Agreement
This Award Agreement (the "Agreement") is entered into as of ________________,
2005 (the "Grant Date"), by and between Sprint Corporation, a Kansas corporation
(together with its direct and indirect subsidiaries, "Sprint") and
__________________________ (the "Director"), a director of Sprint, for the grant
of restricted stock units with respect to Sprint's FON Common Stock, par value
$2.00 per share ("FON Stock").
In consideration of the mutual covenants and agreements set forth in this
Agreement, the parties agree to the following.
1. Defined Terms Incorporated from 1997 Long-Term Stock Incentive Program
Capitalized terms used in this Award Agreement and not defined herein shall have
the meanings set forth in Sprint's 1997 Long- Term Stock Incentive Program (the
"Program").
2. Grant of Restricted Stock Units
Sprint hereby grants to Director under the Program ____________________ FON
restricted stock units (the "RSUs"). Each RSU represents the unsecured right to
require Sprint to deliver to Director one share of FON Stock. With respect to
100% of the RSUs, the "vesting date" and "initial delivery date" are on February
8, 2008. The RSUs are governed by, and this Agreement hereby incorporates, the
Standard Terms of Other Stock Unit Awards set forth in Section 9(c) of the
Program. On each date on which Sprint pays a dividend on the FON Stock, the RSU
will accrue additional whole or fractional RSUs equal to the number of shares of
FON Stock the dividend would buy at the fair market value of FON Stock on the
dividend payment date. These additional shares vest and are subject to delivery
at the same time as the shares originally payable under the RSU.
3. Plan Information
Director hereby acknowledges having read the enclosed 1997 Long- Term Stock
Incentive Program Plan Information Statement dated February 2005. To the extent
not inconsistent with the provisions of this Agreement, the terms of such
information statement and the Program are hereby incorporated by this reference.
In Witness Whereof, Sprint has caused this Agreement to be executed by its duly
authorized officer and the Director has executed the same as of the Grant Date.
Sprint Corporation
By: ________________________
Authorized Officer
_______________, "Director"