NORTEL NETWORKS CORP
EX-10.76
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<TYPE>EX-10.76
<SEQUENCE>10
<FILENAME>o19215exv10w76.htm
<DESCRIPTION>EX-10.76
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<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;10.76</B>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>CONFIDENTIAL-SPECIAL HANDLING</B></U>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">February&nbsp;21, 2006

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Brian McFadden<BR>
6 Magnolia St.<BR>
Baie D&#146;Urfe, PQ<BR>
H9X 3P4

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Dear Brian:
</DIV>


<DIV align="left" style="margin-left: 0%; text-indent: 0%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">This letter (&#147;Agreement&#148;) records the arrangements between you and Nortel Networks Limited
concerning the cessation of your employment. The Agreement shall bind and inure to the benefit of
each party and their respective heirs, successors and assigns.</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>As used in this Agreement, the term &#147;Corporation&#148; shall mean Nortel Networks Corporation, its
subsidiaries and affiliates, their successors and assigns, and all of their past and present
officers, directors, employees and agents (in their individual and representative capacities),
in every case, individually and collectively.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Effective as of the close of business on December&nbsp;23, 2005, your active employment
relationship with the Corporation ceased. All previous external responsibilities which you
had were or will be assumed by a person designated by the Corporation, including any
participation in industry or other associations representing the Corporation. You ceased to
act as an officer and/or director of the Corporation and any of the Corporation&#146;s subsidiaries
and affiliates on December&nbsp;23, 2005, and the Corporation has taken steps to remove you from
all such positions.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>You understand and agree that if you have the designation of either &#147;Reporting&#148; or
&#147;Non-Reporting&#148; Insider pursuant to Corporate Policy 320.28 of Nortel Networks Corporation
(and under applicable Canadian/US securities legislation for Reporting Insiders), you ceased
to have this designation effective 12:01&nbsp;a.m. on December&nbsp;24, 2005. Notwithstanding the fact
that you no longer have this designation, if you are in possession of material non-public
information relating to Nortel Networks, you are prohibited from trading in Nortel Networks
securities (or informing another person of the material non-public information) in accordance
with applicable laws. If you are a</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">William J. Donovan<BR>
Senior-Vice President<BR>
Human Resources<BR>
Nortel<BR>
8200 Dixie Road Suite&nbsp;100 Brampton ON Canada L6T 5P6 T 905.863.1100 F 905.863.8412 E billdono@nortel.com

</DIV>

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    <TD align="left" valign="top">Mr. Brian McFadden<BR>
February&nbsp;21, 2006<BR>
Page 2
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    <TD>&nbsp;</TD>
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    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;Reporting&#148; Insider, you understand that you were required to amend your insider profile
within 10&nbsp;days of December&nbsp;23, 2005 on the Canadian System for Electronic Disclosure by
Insiders (SEDI)&nbsp;to indicate that you were no longer a &#147;Reporting&#148; Insider of Nortel
Networks. You should contact the Insider Reporting Department at (905)&nbsp;863-1220 and fax
(905)&nbsp;863-8524 for assistance in amending the SEDI profile.</TD>
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<DIV style="margin-top: 6pt">
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Conditional upon your compliance with all terms and conditions of this Agreement, the
Corporation shall:</TD>
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<DIV style="margin-top: 6pt">
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>pay you the sum of US$20,314.92 bi-weekly, converted to Canadian currency in
the same manner as you were paid immediately prior to the termination of your active
employment, less applicable deductions, commencing on December&nbsp;24, 2005 and
terminating December&nbsp;28, 2007 (&#147;Salary Continuation Period&#148;). The first such payment
shall be made on the Corporation&#146;s next regular payroll date following your execution
of this Agreement and shall include all bi-weekly payments accrued to that date;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>pay you, on or before the next regular payroll date following your execution
of this Agreement, a lump sum amount equivalent to ten (10)&nbsp;weeks of base salary
representing all of your current accrued but unused vacation benefit, with no further
vacation accrual subsequent to December&nbsp;23, 2005;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>continue your participation during the Salary Continuation Period, subject to
the provisions of the applicable plans, in group medical, life insurance and dental
insurance, for you and any of the dependents currently covered; you shall continue to
make any required contributions for such benefits at the rates applicable for senior
executive employees occupying positions similar to that you occupied in your most
senior position with the Corporation through the deductions authorized in paragraph
4(a);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>continue your accrual of pensionable service during the Salary Continuation
Period, pursuant to the terms of the Nortel Networks Managerial and Non-Negotiated
Pension Plan (the &#147;pension plan&#148;); your final pension or retirement benefits will be
calculated based on pensionable service you have accrued to the conclusion of the
Salary Continuation Period;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(e)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>consider you ineligible for consideration for any future grant(s) of stock
options or Restricted Stock Units (RSUs). Stock options and RSUs previously granted
to you will continue to vest during the Salary Continuation Period in</TD>
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    <TD align="left" valign="top">Mr. Brian McFadden<BR>
February&nbsp;21, 2006<BR>
Page 3
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    <TD>&nbsp;</TD>
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    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>accordance with the provisions of the plan under which the stock options or RSUs
were granted and the instrument of grant evidencing the grant. Your right, if any,
to exercise any vested Nortel Networks stock options or RSUs after your active
employment relationship with the Corporation ceased (including during the Salary
Continuation Period) will be determined in accordance with the provisions of the
stock option or RSU plan under which the stock options or RSUs were granted and the
instrument of grant evidencing the options or RSUs;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(f)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>following your completion of the necessary documentation, distribute your
account balance in accordance with the provisions of the Nortel Networks Investment
Plan. Your right to contribute to and participate in the Investment Plan will cease
at the end of the Salary Continuation Period;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(g)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>make available to you, should you elect, executive outplacement services to
assist you in securing new employment and pay the professional fees for such services
as are reasonably incurred;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(h)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>with respect to any monies or monetary equivalents to be paid hereunder, in
its reasonable discretion withhold appropriate amounts concerning any and all
applicable federal and provincial taxes; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>pay the cost of personal income tax preparation by a service provider
selected by the Corporation for tax year 2005.</TD>
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    <TD width="1%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All Corporation compensation, benefits and perquisites not expressly extended to or preserved
for you pursuant to this Agreement shall be terminated effective 12:01 am., December&nbsp;24, 2005.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Regardless of whether you comply with this Agreement:</TD>
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    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Corporation shall indemnify you, and advance any reasonable legal fees
and expenses, to the extent permitted by, and in accordance with, section 124 of the
Canada Business Corporations Act (the &#147;CBCA&#148;) and the Corporation&#146;s By-Laws (the
&#147;By-Laws&#148;). You shall repay such fees and expenses if and to the extent it is
determined that you do not fulfill the conditions set forth in subsection 124(3) of
the CBCA or the By-Laws.</TD>
</TR>

</TABLE>
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    <TD align="left" valign="top">Mr. Brian McFadden<BR>
February&nbsp;21, 2006<BR>
Page 4
</TD>
    <TD>&nbsp;</TD>
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Subject to and without limiting the foregoing, it is anticipated that the
Corporation&#146;s legal counsel will represent you in respect of any civil, criminal,
administrative, investigative (including any internal investigation or independent
review being conducted by the Corporation&#146;s Board of Directors or a Committee thereof)
or other proceeding in Canada, the United States or other applicable jurisdiction in
which you are involved (including as a witness) because of your association with the
Corporation (hereafter, a &#147;Matter&#148;). However, in the event that the Corporation&#146;s
counsel cannot represent you in a Matter because of a conflict, the Corporation agrees
to advance monies to pay your reasonable and actual legal expenses in that Matter
provided you agree that you will not settle the Matter, retain defense counsel or
expert witnesses or consultants, or incur any non-normal course defense costs without
obtaining the Corporation&#146;s prior consent, which consent will not be unreasonably
withheld.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>With respect to the subject matter of (1)&nbsp;the investigation being conducted
by the United States Securities and Exchange Commission (&#147;SEC&#148;) pursuant to formal
order of private investigation in In the Matter of Nortel Networks Corporation (SEC
File No.&nbsp;H-9799); (2)&nbsp;the related investigation being conducted by the Ontario
Securities Commission; and (3)&nbsp;any other investigation by any law enforcement
authority, governmental body or self-regulatory organization in connection with any
fact, circumstance, situation, transaction, event or other source of liability related
to the subject matter referenced in the immediately foregoing items (1)&nbsp;and (2)&nbsp;or
referenced in the Corporation&#146;s October&nbsp;23, 2003 8K filing with the SEC (all of the
foregoing, collectively, the &#147;Investigation&#148;), you have retained separate counsel
independent of any duty to the Corporation (Latham &#038; Watkins LLP and Fasken Martineau
DuMoulin LLP) and the Corporation will continue to advance monies to pay your
reasonable legal fees and expenses associated with the Investigation and all
proceedings such as may arise from it (collectively, the &#147;Investigation Indemnified
Matters&#148;). For clarification, Investigation Indemnified Matters include civil
litigation of related subject matter. The Corporation acknowledges that the
requirement set forth in this paragraph not to settle any Matter without the
Corporation&#146;s prior consent does not apply to any Investigation Indemnified Matters.
The Corporation&#146;s determination to advance such reasonable legal fees and expenses is
subject to section 124 of the CBCA and the By-Laws and you shall repay such fees and
expenses if it is determined that you do not fulfill the conditions set forth in subsection
124(3) of the CBCA or the By-Laws. The Corporation will also</TD>
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    <TD align="left" valign="top">Mr. Brian McFadden<BR>
February&nbsp;21, 2006<BR>
Page 5
</TD>
    <TD>&nbsp;</TD>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">timely provide to your counsel reasonable access to or copies of any and all documents you generated
and/or received during the time period covered by the Investigation, and/or as are
relevant to any Investigation Indemnified Matter, as your counsel reasonably
requests.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>With the exception of the Application filed in the Ontario Superior Court of Justice in the
matter of Indiana Electrical Workers Pension Trust Fund IBEW and Laborers Local 100 and 397
Pension Fund v. Nortel Networks Corporation, the Corporation represents that it has no
knowledge as of February&nbsp;21, 2006 of any claims or legal action in favor of the Corporation
against you in any forum, whether for legal, equitable or administrative relief, and further
represents that it has no present intention to bring any such claims. The Corporation further
agrees that in the event the Corporation brings any such legal action, other than to enforce
the terms of this Agreement, the release of claims given by the Employee in section 13 shall
be null and void.</TD>
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</DIV>

<DIV style="margin-top: 6pt">
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">8.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>You shall reconcile and settle your employee expense account, and any advances made to you by
the Corporation, as soon as possible, but not later than thirty (30)&nbsp;days after your execution
of this Agreement.</TD>
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</DIV>

<DIV style="margin-top: 6pt">
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">9.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>You shall continue to maintain the confidentiality of all of the Corporation&#146;s trade secrets
and confidential or proprietary commercial, technical or other information; and specifically
you agree that you shall not at any time during or following your employment with the
Corporation, disclose, other than to the Corporation&#146;s authorized personnel, or otherwise use
for non-Corporation purposes, any confidential or proprietary information (whether or not a
trade secret) relating to an activity of the Corporation.</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">The parties agree that this Agreement, and all the terms and conditions expressed herein,
is subject to either party&#146;s right or obligation to disclose this Agreement in accordance
with applicable securities laws or as may be required to enforce this Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Upon the occurrence of any contingency which may affect your rights in or to any subsequent
payment or benefit, or affects the Corporation&#146;s rights under this Agreement, including
without limitation, your obtaining new employment, you shall, within ten (10)&nbsp;days of such
occurrence, provide written notice to the Corporation of that event. Such notice shall be
sent in writing to the Senior Vice-President, Human Resources.
</DIV>

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    <TD align="left" valign="top">Mr. Brian McFadden<BR>
February&nbsp;21, 2006<BR>
Page 6
</TD>
    <TD>&nbsp;</TD>
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    <TD width="1%" nowrap align="left">10.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>You shall make available to the Corporation, upon reasonable notice, advice, assistance and
information that shall include, but not be limited to, offering and explaining evidence,
providing sworn statements, participation in discovery, and trial preparation testimony as may
be deemed necessary by the Corporation concerning the Corporation&#146;s position in any legal
proceedings involving issues brought against or initiated by the Corporation of which you have knowledge. In the event
it is necessary for you to provide the aforementioned services, then the Corporation shall
reimburse you for authorized, reasonable and documented travel expenses, including, but not
limited to, transportation, lodging and meals; except that the Corporation acknowledges
that attorneys&#146; fees and associated expenses are reimbursable if the assistance you provide
is related to the subject matter of the Investigation or any Investigation Indemnified
Matter.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">11.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>You have returned to Nortel Networks any and all property of Nortel Networks that was in your
possession and/or subject to your control, whether such material shall be written instruments
or tapes in electronic and/or recorded format.</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">Nortel Networks Corporate Procedure 206.01 states that &#147;all documents, messages or data
composed, sent, or received through the network of Nortel Networks in any form are and
remain at all times the property of Nortel Networks&#148;. In addition, all work product that
you have produced during your employment with Nortel Networks is the property of Nortel
Networks. Therefore, all information, (however recorded or stored) (&#147;Information&#148;) in your
possession and/or that you have created in the course of your employment with Nortel
Networks (whether or not currently in your possession or control) is the property of Nortel
Networks. Information does not include copies in your possession of your records of
employment and/or financial dealings between you and the Corporation.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">You are aware that Nortel Networks has received a formal order of investigation from the
United States Securities and Exchange Commission (&#147;SEC&#148;) that requires the preservation and
collection and disclosure of certain Information to the SEC. Nortel Networks is also a
party to various civil lawsuits and other investigations and may need access to certain
Information for those matters as well. Therefore, you took affirmative steps to preserve
all information in your possession, custody and control (including information controlled
by your assistant, if any), have left all such information in the possession and custody of
the Corporation, and do not have any Information in your possession or custody.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 3%">The Information will be used by Nortel Networks for general business purposes and may also be
provided to regulatory authorities in response to their requests or
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%"></TD>
    <TD width="5%"></TD>
    <TD width="47%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">Mr. Brian McFadden<BR>
February&nbsp;21, 2006<BR>
Page 7
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><IMG src="o19215o1921501.gif" alt="(LOGO)"></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>disclosed in any relevant private litigation to which Nortel Networks is a party. Also,
the Information may be used by and provided to entities within the Nortel Networks group of
companies and/or Nortel Networks external advisors. In some instances, the recipients of
this Information will be located outside your geographic area. To the extent that the
information contains any personal information, you consent to the collection, transfer and
disclosure of that information by Nortel Networks to Nortel Networks entities, third
parties and regulatory authorities within and outside of your geographic area for the
purposes set out above.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The commitments of this section 11 shall not apply to documents previously furnished to
your counsel in connection with the Investigation, and you agree that you and your counsel
shall use such Information solely for the purpose of representing you in connection with
Investigation Indemnified Matters and not for any other purpose, without the express
written consent of the Corporation.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">12.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>You hereby agree that you shall not during the Salary Continuation Period whether on your own
behalf or jointly with others, and whether as an employee, director, principal, agent,
consultant or in any other capacity in competition with the Corporation, be directly or
indirectly (i)&nbsp;employed or engaged in, or (ii)&nbsp;perform services in respect of, or (iii)&nbsp;be
otherwise concerned with:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the research into, development, manufacture, supply or marketing of any
product which is of the same or substantially similar type to any product researched,
or developed, or manufactured, or supplied, or marketed by the Corporation during the
twelve months immediately preceding December&nbsp;23, 2005; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&nbsp;(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the development or provision of any services (including but not limited to
technical and product support, or consultancy or customer services) which are of the
same or substantially similar type to any services provided by the Corporation during
the twelve months immediately preceding December&nbsp;23, 2005;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>without the prior written consent of the Corporation, which consent shall not be
unreasonably withheld;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>provided that</I>, the provisions of this paragraph shall apply only in respect of products or
services with which you were either personally concerned or for which you were</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%"></TD>
    <TD width="5%"></TD>
    <TD width="47%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">Mr. Brian McFadden<BR>
February&nbsp;21, 2006<BR>
Page 8
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><IMG src="o19215o1921501.gif" alt="(LOGO)"></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>responsible while employed by the Corporation during the twelve months immediately
preceding December&nbsp;23, 2005; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>provided further that</I>, the provisions of this paragraph shall not restrict you from
accepting employment with a company or other entity that provides products or services that
are in competition with products or services offered by the Corporation, so long as you are
not in the course of such employment during the Salary Continuation Period involved in
activities related to such competitive products or services with which you were either
personally concerned or for which you were responsible while employed by the Corporation
during the twelve months immediately preceding December&nbsp;23, 2005.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>You hereby agree that you shall not for the Salary Continuation Period whether on your own
behalf or in conjunction with or, on behalf of any other entity, whether as an employee,
director, principal, agent, consultant or in any other capacity directly or indirectly, for
the purpose of providing or attempting to provide products or services that compete with
products or services offered by the Corporation as of December&nbsp;23, 2005, (i)&nbsp;solicit or,
(ii)&nbsp;assist in soliciting, or (iii)&nbsp;accept, or (iv)&nbsp;facilitate the acceptance of, or (v)
deal with, customers or prospective customers:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(i)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>with whom you had personal contact or dealings on behalf of the Corporation
during the twelve months immediately preceding December&nbsp;23, 2005; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(ii)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>for whom you were, in a client-management capacity on behalf of the
Corporation, directly responsible during the twelve months immediately preceding
December&nbsp;23, 2005,</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>without the prior written consent of the Corporation, which consent shall not be
unreasonably withheld.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>You hereby agree that, you will not for the Salary Continuation Period either on your own
account or in conjunction with or on behalf of any other person, company, business entity,
or other organization and whether as an employee, principal, agent, consultant or in any
other capacity directly or indirectly (i)&nbsp;induce, or (ii)&nbsp;solicit, or (iii)&nbsp;entice or (iv)
procure, any person who is an employee of the Corporation to leave the Corporation&#146;s or any
associated company&#146;s employment (as applicable) where that person is an employee of the
Corporation on December&nbsp;23, 2005;</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%"></TD>
    <TD width="5%"></TD>
    <TD width="47%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">Mr. Brian McFadden<BR>
February&nbsp;21, 2006<BR>
Page 9
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><IMG src="o19215o1921501.gif" alt="(LOGO)"></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>provided that</I>, this provision shall neither (i)&nbsp;prohibit you from hiring, or causing an
organization for which you perform services to hire, any person who initially approaches
you and/or such organization to inquire about employment without having been solicited by
you to do so, nor (ii)&nbsp;be construed to apply to the placement of general advertisements for
employment on websites, in print publications or in other appropriate media.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">13.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In consideration of the monies and other benefits to be provided to you as set forth herein,
you hereby fully and completely release the Corporation, its subsidiaries and affiliates, and
their respective directors, officers and employees, to the extent permitted by law, from any
and all real or pretended claims, causes of actions, rights, damages or injuries of any nature
whatsoever you may have had or now have, whether known or unknown, (except for promises and
commitments contained or preserved herein), arising from or connected with your employment
with the Corporation or the termination thereof, including any and all such claims, causes of
action, rights, damages or injuries arising under any statute, including, without limitation,
the Labour Standards Act (An Act Respecting Labour Standards (Quebec)) or at common law.
Furthermore, you understand that this release shall be binding upon you and your heirs,
administrators, representatives, executors, successors, and assigns and its enforceability
shall not be challenged.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>You acknowledge that you have read this letter and that you understand all of its terms and
have executed it voluntarily with full knowledge of its significance. Further, you
acknowledge that you have had an adequate opportunity to review and consider the
arrangements, including at your discretion, the right to discuss this Agreement with legal
counsel of your choice. Finally, you acknowledge that you understand you are hereby
granting to the Corporation a full and final release as set forth above.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">14.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Agreement constitutes the entire understanding of the parties with respect to your
employment, including the cessation of your employment, and there are no promises,
understandings or representations other than those expressly set forth or preserved herein.
This Agreement may be modified only with a written instrument duly executed by you and the
Corporation.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">15.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This Agreement shall be governed by the laws of Ontario, Canada without regard to any
provisions concerning conflict of laws. This Agreement may be delivered by facsimile and
executed in counterparts, all of which, taken together, shall constitute one and the same
original instrument.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%"></TD>
    <TD width="5%"></TD>
    <TD width="47%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">Mr. Brian McFadden<BR>
February&nbsp;21, 2006<BR>
Page 10
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><IMG src="o19215o1921501.gif" alt="(LOGO)"></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">16.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The parties agree that should any provision of this Agreement be declared or be determined by
any court to be illegal or invalid, the validity of the remaining parts, terms or provisions
shall not be affected thereby and said illegal or invalid part, term, or provision shall be
deemed not to be a part of this Agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">17.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Nothing in this Agreement shall be construed to prevent the Corporation from providing you or
your prospective employer, as applicable, with an appropriate positive reference or letter of
recommendation relating to your employment with the Corporation.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">18.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Nothing in this Agreement shall affect the rights and obligations of any of the parties to
the Escrow Agreement, dated March&nbsp;1, 2005, by and among the signatory Officers, Nortel
Networks Corporation, and Computershare Trust Company of Canada.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Please acknowledge that the foregoing correctly and completely sets forth your understanding of the
arrangements, and your acceptance hereof, by signing, dating and returning to me, the attached
second copy of this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Yours truly,
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">/s/ William J. Donovan
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">William J. Donovan<BR>
Senior Vice-President, Human Resources
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ B. McFadden</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Brian McFadden
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;February&nbsp;22, 2006</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Date
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Attach. Second copy of this Agreement
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


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