Communications Plan Questions and Answers
  • Will our pay periods be the same?

    TeleCorp and Tritel will maintain their current pay schedules: TeleCorp is semi-monthly; and Tritel is bi-weekly.
    • Who is on the new Board of Directors?
    TeleCorp and Tritel have designated the following persons to serve on the board of directors after the merger:
    Gerald T. Vento
    Ann K. Hall
    Thomas H. Sullivan
    Scott I. Anderson
    William M. Mounger, II
    James M. Hoak
    E.B. Martin, Jr.
    David A. Jones, Jr.
    Alexander P. Coleman
    Kevin J. Shepherd
    Michael R. Hannon
    Rohit M. Desai
    Michael Schwartz
    William W. Hague
    • What company do I work for? What company is paying me?
    There is no change to the operating companies each employees works for. TeleCorp employees remain employed by TeleCorp Communications, Inc., and Tritel employees remain employed by Tritel. Each of these companies will maintain separate payroll systems, and therefore will continue paying employees as such.
    • Will my expense check filing requirements change?
    Due to the operating companies remaining separate, the A/P functions, including employee expense reimbursement, will remain with each company.
    • Will my benefits change?
    Due to the merger, an HR team consisting of TeleCorp and Tritel negotiated a new benefits program effective January 1, 2001. This new plan includes the medical, prescription, dental, vision, life and disability, and flexible spending accounts. More information regarding these plans will be distributed to all TeleCorp and Tritel employees the first week of November, with benefits briefings scheduled within the following weeks.
    • What is our new stock ticker symbol?
    At the time of the merger, all TeleCorp and previous Tritel stock will be tracked under the TLCP stock ticker symbol for TeleCorp PCS, Inc., formerly known as TeleCorp-Tritel Holding Company.
    • Are my stock options affected?
    For Tritel employees, when the merger is complete, each outstanding Tritel employee stock option will be converted into an option to purchase the number of shares of TeleCorp PCS, Inc., formerly known as TeleCorp-Tritel Holding Company, class A voting common stock that is equal to the product of 0.76 multiplied by the number of shares of Tritel class A voting common stock that would have been obtained before the merger upon the exercise of the option, rounded to the nearest whole share. The exercise price per share will be adjusted to reflect the exchange ratio of Tritel class A voting common stock in the merger.
    For TeleCorp employees, when the merger is completed, each outstanding TeleCorp employee stock option will be converted into an option to purchase shares of TeleCorp PCS, Inc., formerly known at TeleCorp-Tritel Holding Company, class A voting common stock at an exercise price per share equal to the exercise price per share of TeleCorp class A voting common stock subject to the option before the conversion.
    • What will be the process of exercising vested stock options?
    For TeleCorp employees, the process remains the same–employees must contact the Washington, DC Merrill Lynch office to exercise all vested options.
    For Tritel employees, employees will be required to exercise all vested options by utilizing the Jackson, MS Merrill Lynch office. Additional information will be provided to all Tritel employees with specific information on the process for exercising.
    • What is the address for the corporate office?
    The corporate office is:
    TeleCorp PCS, Inc.
    1010 North Glebe Road, Suite 800
    Arlington, Virginia 22201
    (703) 236–1100
    • Can employees transfer positions between TeleCorp and Tritel?
    After 12 months in your current position, employees of both TeleCorp and Tritel will be eligible for transfers to positions within both companies. Employees will receive prior service credit to be applied to vacation accrual and 401(k) vesting.
    • Will my vacation and sick leave accrual change?
    This has not been determined as of yet. For right now you will stay on the same vacation and sick leave schedule. Any changes will be communicated to all employees by the end of December 2000.
    • Will TeleCorp and Tritel recognize the same holiday schedule?
    We are currently reviewing the holiday schedules for both companies, and will make a determination of the holiday schedule for CY 2001 by the end of December 2000.
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