<SEC-DOCUMENT>0001051512-15-000060.txt : 20150813
<SEC-HEADER>0001051512-15-000060.hdr.sgml : 20150813
<ACCEPTANCE-DATETIME>20150813093301
ACCESSION NUMBER:		0001051512-15-000060
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20150807
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150813
DATE AS OF CHANGE:		20150813

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TELEPHONE & DATA SYSTEMS INC /DE/
		CENTRAL INDEX KEY:			0001051512
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
		IRS NUMBER:				362669023
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14157
		FILM NUMBER:		151048976

	BUSINESS ADDRESS:	
		STREET 1:		30 NORTH LASALLE STREET
		STREET 2:		STE 4000
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60602
		BUSINESS PHONE:		3126301900

	MAIL ADDRESS:	
		STREET 1:		30 NORTH LASALLE STREET
		STREET 2:		STE 4000
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60602
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>tdsform8k.htm
<DESCRIPTION>8-K
<TEXT>

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<p style="margin:0in;margin-bottom:.0001pt;tab-stops:center 3.25in right 6.5in;"><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


</DIV>
<p align=center style="margin:0in;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:18.0pt;layout-grid-mode:line;">FORM
8-K</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;text-indent:.5in;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:18.0pt;layout-grid-mode:line;">SECURITIES AND EXCHANGE
COMMISSION</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">Washington, D.C. 20549</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;layout-grid-mode:line;">CURRENT REPORT</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;layout-grid-mode:line;">&nbsp;</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;layout-grid-mode:line;">Pursuant to Section 13 or 15(d)
of</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;layout-grid-mode:line;">The Securities Exchange Act of
1934</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">Date of Report (Date of earliest event reported): August 7, 2015</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:18.0pt;layout-grid-mode:line;">TELEPHONE AND DATA SYSTEMS, INC.</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:line;">(Exact name of registrant as specified in its charter)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<div align=center>

<table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
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  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=30% style="background:white;height:9.0pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:white;height:9.0pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=30% style="background:white;height:9.0pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:white;height:9.0pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="background:white;height:9.0pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=4% style="background:white;height:12.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=30% style="background:white;height:12.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">Delaware</font></b></p>
  </td>
 <td valign=bottom width=6% style="background:white;height:12.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=30% style="background:white;height:12.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">001-14157</font></b></p>
  </td>
 <td valign=bottom width=6% style="background:white;height:12.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="background:white;height:12.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">36-2669023</font></b></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td valign=bottom width=4% style="background:white;height:25.5pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=top width=30% style="background:white;height:25.5pt;padding:0in 5.75pt 0in 5.75pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:10.0pt;">(State or other
  jurisdiction</font></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:10.0pt;">of incorporation)</font></p>
  </td>
 <td valign=bottom width=6% style="background:white;height:25.5pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=top width=30% style="background:white;height:25.5pt;padding:0in 5.75pt 0in 5.75pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:10.0pt;">(Commission File
  Number)</font></p>
  </td>
 <td valign=bottom width=6% style="background:white;height:25.5pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=top width=24% style="background:white;height:25.5pt;padding:0in 5.75pt 0in 5.75pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:10.0pt;">(IRS Employer
  Identification No.)</font></p>
  </td>
 </tr>
<tr style="height:6.75pt;">
  <td valign=bottom width=4% style="background:white;height:6.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=30% style="background:white;height:6.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:white;height:6.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=30% style="background:white;height:6.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:white;height:6.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="background:white;height:6.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=4% style="background:white;height:12.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td colspan=3 valign=bottom width=66% style="background:white;height:12.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">30 North LaSalle Street,
  Suite 4000, Chicago, Illinois</font></b></p>
  </td>
 <td valign=bottom width=6% style="background:white;height:12.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="background:white;height:12.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" style="font-size:10.0pt;">60602&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=4% style="background:white;height:12.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td colspan=3 valign=bottom width=66% style="background:white;height:12.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:10.0pt;">(Address of principal
  executive offices)</font></p>
  </td>
 <td valign=bottom width=6% style="background:white;height:12.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=24% style="background:white;height:12.75pt;padding:0in 5.75pt 0in 5.75pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:10.0pt;">(Zip Code)</font></p>
  </td>
 </tr>
</table>


</div>


<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">Registrant's
telephone number, including area code:&#160; </font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">(312) 630-1900</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">Not
Applicable</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">(Former
name or former address, if changed since last report)</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">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):</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></p>

<div align=center>

<table border=0 cellpadding=0 cellspacing=0 style="border-collapse:collapse;width:100%;">
 <tr>
  <td valign=top width=7% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=Wingdings style="font-size:11.0pt;layout-grid-mode:char;">&#168;</font></p>
  </td>
 <td valign=top width=93% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;layout-grid-mode:char;">Written communications
  pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=7% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=top width=93% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=7% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=Wingdings style="font-size:11.0pt;layout-grid-mode:char;">&#168;</font></p>
  </td>
 <td valign=top width=93% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;layout-grid-mode:char;">Soliciting material pursuant
  to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=7% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=top width=93% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=7% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=Wingdings style="font-size:11.0pt;layout-grid-mode:char;">&#168;</font></p>
  </td>
 <td valign=top width=93% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;layout-grid-mode:char;">Pre-commencement
  communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
  240.14d-2(b))</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=7% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 <td valign=top width=93% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=7% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face=Wingdings style="font-size:11.0pt;layout-grid-mode:char;">&#168;</font></p>
  </td>
 <td valign=top width=93% style="padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" style="font-size:10.0pt;layout-grid-mode:char;">Pre-commencement
  communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
  240.13e-4(c))</font></p>
  </td>
 </tr>
</table>


</div>





<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;line-height:.2pt;">&nbsp;</font></p>


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<p style="margin:0in;margin-bottom:.0001pt;tab-stops:center 3.25in right 6.5in;"><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


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<p style="margin:0in;margin-bottom:.0001pt;tab-stops:center 3.25in right 6.5in;"><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">Item 5.02. </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">Entry into a Material
Definitive Agreement; Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements for
Certain Officers</font></u><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;"> &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-indent:.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">This Form 8-K is being filed to provide information
with respect to the Telephone and Data Systems, Inc.(&#8220;TDS&#8221;) 2015 Officer Bonus
Program (the &#8220;2015 Plan&#8221;), pursuant to paragraph (e) of Item 5.02 of Form 8-K:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-indent:.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-indent:.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The 2015 Plan was approved by the TDS Compensation
Committee on August 7, 2015 and finalized and communicated to officers on
August 10, 2015.&#160; The 2015 Plan covers all TDS executive officers other than
the President and CEO of TDS.&#160;&#160; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-indent:.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-indent:.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The plan provides that the President and CEO of TDS&#8217;
subsidiary, TDS Telecommunications Corporation (&#8220;TDS Telecom&#8221;), has the same
company and individual performance weightings as the other TDS executive
officers, provided that the company performance will be based on TDS Telecom&#8217;s
performance rather than TDS&#8217; consolidated performance.&#160; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-indent:.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-indent:.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The 2015 Plan provides that 70% of the bonus will be
based on quantitative company performance and 30% will be based on individual
performance.&#160; The TDS consolidated company performance will be based on the
following three metrics with the following weights:&#160; consolidated operating
revenue growth (40%); consolidated adjusted EBITDA (40%); and consolidated
simple free cash flow (20%).&#160; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-indent:.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-indent:.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">Notwithstanding any provision of the 2015 Plan to the
contrary, a participating officer does not have a legally binding right to a
bonus unless and until the bonus amount, if any, is paid and no bonus shall be
paid unless the officer remains employed through the actual bonus payout date
unless otherwise approved at the discretion of the Compensation Committee or
President and CEO of TDS, as applicable.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-indent:.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-indent:.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">The foregoing description is qualified by reference to
the 2015 Plan which is attached hereto as Exhibit 10.1 and incorporated by
reference herein.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-indent:.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">Item 9.01.&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">Financial
Statements and Exhibits</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;page-break-after:avoid;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">(d)&#160;&#160; </font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;">Exhibits:&nbsp;</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-align:justify;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;layout-grid-mode:char;text-decoration:none;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;text-indent:.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">In accordance with the provisions of Item 601 of
Regulation S-K, any Exhibits filed or furnished herewith are set forth on the
Exhibit Index attached hereto.</font></p>




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<p style="margin:0in;margin-bottom:.0001pt;tab-stops:center 3.25in right 6.5in;"><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


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<div align=left><table border=1 cellpadding=0 cellspacing=0 style="border:none;border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">SIGNATURES</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td colspan=3 valign=bottom width=100% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td colspan=3 valign=bottom width=100% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">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, thereto duly authorized.</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=12% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=36% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=52% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td colspan=2 valign=bottom width=48% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Telephone and Data Systems, Inc.</font></p>
  </td>
 <td valign=bottom width=52% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td colspan=2 valign=bottom width=48% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">(Registrant)</font></p>
  </td>
 <td valign=bottom width=52% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=12% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=36% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=52% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=12% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Date:</font></p>
  </td>
 <td valign=bottom width=36% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">August 13, 2015</font></p>
  </td>
 <td valign=bottom width=52% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=12% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=36% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=52% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=12% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">By:</font></p>
  </td>
 <td valign=bottom width=36% style="background:white;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">/s/ Douglas D. Shuma</font></p>
  </td>
 <td valign=bottom width=52% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=12% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=36% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Douglas D. Shuma</font></p>
  </td>
 <td valign=top width=52% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=12% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=36% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Senior Vice President - Finance and Chief Accounting Officer</font></p>
  </td>
 <td valign=bottom width=52% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=12% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td colspan=2 valign=bottom width=88% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">(principal financial officer and principal accounting officer)</font></p>
  </td>
 </tr>
</table></div>






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<div align=left><table border=1 cellpadding=0 cellspacing=0 style="border:none;border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
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  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">EXHIBIT
  INDEX</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=9% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=85% style="background:white;border:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td colspan=3 valign=bottom width=100% style="background:white;border:none;height:12.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">The
  following exhibits are filed or furnished herewith as noted below.</font></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=9% style="background:white;border:none;height:12.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=6% style="background:white;border:none;height:12.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=85% style="background:white;border:none;height:12.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:25.5pt;">
  <td valign=bottom width=9% style="background:white;border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Exhibit</font></b></p>
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">No.</font></b></p>
  </td>
 <td valign=bottom width=6% style="background:white;border:none;height:25.5pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=85% style="background:white;border:none;border-bottom:solid black 1.0pt;height:25.5pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Description</font></b></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=top width=9% style="background:white;border:none;height:12.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">10.1&nbsp;</font></p>
  </td>
 <td valign=top width=6% style="background:white;border:none;height:12.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=top width=85% style="background:white;border:none;height:12.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Telephone and Data Systems, Inc. 2015 Officer Bonus Program</font></p>
  </td>
 </tr>
</table></div>



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<meta content="text/html; charset=utf-8" />




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<p style="margin:0in;margin-bottom:.0001pt;tab-stops:center 3.25in right 6.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


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<p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">EXHIBIT 10.1</font></b></p>

<p align=center style="margin-bottom:12.0pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;text-indent:1.0in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:14.0pt;">TELEPHONE AND
DATA SYSTEMS, INC. (TDS)</font></b></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:14.0pt;">2015 OFFICER
BONUS PROGRAM</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">This
bonus program covers all TDS officers other than the President and CEO of TDS
and the Chairman Emeritus of TDS.&#160; Payments under this program to the TDS
Telecom President and CEO and the below listed executive officers require
specific approval of the TDS Compensation Committee.&#160; Bonuses for other
officers covered by this program require the approval of the President and CEO
of TDS.&#160; This program does not apply to any officer of a TDS subsidiary other
than the President and CEO of TDS Telecom.&#160; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:12.0pt;">&#216;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">TDS
EXECUTIVE OFFICER PARTICIPANTS:</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:10.0pt;">&#159;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">SVP
Technology, Services and Strategy</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:10.0pt;">&#159;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">SVP
Finance and Treasurer</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:10.0pt;">&#159;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">SVP
Finance and Chief Accounting Officer</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:10.0pt;">&#159;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">SVP
and CIO </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:10.0pt;">&#159;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">SVP,
Acquisitions and Corporate Development</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:10.0pt;">&#159;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">VP
Human Resources </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The TDS Telecom President and CEO (Dave
Wittwer) will have the same company and individual performance weightings as
the TDS executive officers.&#160; However, this officer&#8217;s company performance bonus
opportunity will be based on TDS Telecom&#8217;s approved 2015 Bonus Plan, which will
be aligned with the metrics in this program, but may contain additional
performance measures.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:12.0pt;">&#216;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">COMPANY
PERFORMANCE COMPONENT:</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font color=black face=Wingdings lang=EN-US style="font-size:10.0pt;">&#159;</font><font color=black face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Weighting:&nbsp;</font></b><font color=black face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#160; 70%</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:10.0pt;">&#159;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Performance
Measures:&#160; </font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The
following performance measures are primary indicators of progress against the
TDS Portfolio goal to create increasing results to shareholders and other
stakeholders.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:12.0pt;">&#251;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Consolidated
Operating Revenue Growth:</font></i></b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#160; Revenue growth is the primary driver
to long-term growth in profitability and returns.&#160; It is also an indicator of
the success of past investments.&#160; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:12.0pt;">&#252;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Consolidated
Operating Revenue Growth will be calculated as year-over-year growth in TDS
Consolidated revenue (including U.S. Cellular Equipment Revenue).&#160;&#160; </font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:12.0pt;">&#251;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Consolidated
Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization
(EBITDA): </font></i></b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#160;Adjusted
EBITDA is a direct measure of the cash generated from the operations of the TDS
businesses in a given year and the overall profitability of the company.&#160; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:12.0pt;">&#252;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The
calculation of Adjusted EBITDA will align with the methodology used for
external reporting purposes, which is currently defined as income before income
taxes, depreciation, amortization and accretion, loss on impairment of assets,
gain or loss on sale of business and other exit costs, gain or loss on sale of
licenses and exchanges, gain or loss on investment, gain or loss on asset
disposals and interest expense.&#160; Adjusted EBITDA includes interest income, the
majority of which is revenue related to equipment installment plans at U.S.
Cellular.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="mso-bidi-font-family:Times New Roman;mso-bidi-theme-font:minor-bidi;mso-fareast-font-family:Calibri;mso-fareast-theme-font:minor-latin;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">1</font></font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="mso-fareast-font-family:Calibri;mso-fareast-theme-font:minor-latin;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:2.0pt;">&nbsp;</font></p>


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<p style="margin:0in;margin-bottom:.0001pt;tab-stops:center 3.25in right 6.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:12.0pt;">&#251;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp; </font><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Consolidated
Simple Free Cash Flow (Simple FCF):</font></i></b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#160; </font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Simple&nbsp;</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"> </font></i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">FCF,
defined as Adjusted EBITDA less capital expenditures, is an indicator of TDS&#8217;s
success in delivering shareholder value.&#160; As TDS&#8217;s major business units are
capital intensive businesses, the simple FCF measure is an indicator of how
efficiently the business is managing its capital expenditures and the level of
cash the company has available to invest in future growth opportunities or
create returns for shareholders.&#160; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:1.0in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:12.0pt;">&#252;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The
calculation of Adjusted EBITDA will follow the methodology described above.&#160; The
calculation of capital expenditures will focus on cash outflows and therefore
exclude capitalized interest, which is a non-cash accounting adjustment.</font></i></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Adjustments
to Company Performance component calculations:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:10.0pt;">&#159;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Acquisitions:&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:12.0pt;">&#251;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Acquisitions
that occur in the second half of the fiscal year will be excluded from bonus
calculations (target and actual).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:12.0pt;">&#251;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Adjustment
will be made for acquisitions that occur in the first half of the fiscal year,
with performance judged against the valuation model and adjusted for any timing
differences between expected and actual closing.&#160; To the extent that the
acquisition is not included in the targets, the targets will be adjusted at the
time of the acquisition closing date to reflect the valuation model (as
approved by the Board) and any known timing differences.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:12.0pt;">&#251;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transaction
costs related to the acquisition will be excluded from both the target and
actual results.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:10.0pt;">&#159;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Divestitures:&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:12.0pt;">&#251;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Divestitures
or discontinued operations that occur in the first half of the fiscal year will
be excluded from the bonus calculations (target and actual).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:12.0pt;">&#251;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Divestitures
or discontinued operations that occur in the second half of the fiscal year
will be included in the bonus calculation.&#160; If a divestiture or discontinued
operation was not included in the targets, the targets will be adjusted at the
time of the closing date to reflect the impact of the period of time that the
divesture is not owned.&#160; In addition, significant shifts in strategy will be
taken into consideration when determining the appropriate treatment of
divestitures in the bonus calculation. </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:12.0pt;">&#251;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Transaction
costs related to the divestiture will be excluded from both the target and
actual results.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:10.0pt;">&#159;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Other
Adjustments:&#160; </font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Any
adjustments to the target or actual bonus calculations will be presented to the
Compensation Committee for review and approval.&#160; Adjustment recommendations
should be limited to material accounting adjustments or major business
decisions that, without their adjustment, would cause the calculated bonus
results to differ materially from the unadjusted calculation and therefore not
reflect the true performance delivered in the year.&#160; Bonus expense will be included
in the Adjusted EBITDA and Simple FCF metrics.&#160;&#160;&#160; </font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#160;&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:10.0pt;">&#159;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Bonus
Ranges: <br>
</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"><br>
The bonus ranges were set to reinforce the Company&#8217;s pay for performance
culture.&#160; The minimum performance level for a performance measure needs to be
achieved before any bonus for that performance measure is earned.&#160; The ranges
result in substantial reductions in bonuses when targets are not achieved, and
greater rewards for above target performance.&#160; See Appendix A for payout grids.</font></p>


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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="mso-fareast-font-family:Calibri;mso-fareast-theme-font:minor-latin;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

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<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<div align=center>

<table border=1 cellpadding=0 cellspacing=0 style="border:none;border-collapse:collapse;width:100%;">
 <tr>
  <td width=46% style="background:#D9D9D9;border:solid windowtext 1.0pt;border-bottom:solid windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:1.0pt;margin-left:0in;margin-right:0in;margin-top:1.0pt;text-align:center;"><b><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;">PERFORMANCE MEASURE</font></b></p>
  </td>
 <td width=18% style="background:#D9D9D9;border-bottom:solid windowtext 1.5pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:1.0pt;margin-left:0in;margin-right:0in;margin-top:1.0pt;text-align:center;"><b><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;">MINIMUM</font></b></p>
  </td>
 <td width=18% style="background:#D9D9D9;border-bottom:solid windowtext 1.5pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:1.0pt;margin-left:0in;margin-right:0in;margin-top:1.0pt;text-align:center;"><b><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;">TARGET</font></b></p>
  </td>
 <td width=18% style="background:#D9D9D9;border-bottom:solid windowtext 1.5pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:1.0pt;margin-left:0in;margin-right:0in;margin-top:1.0pt;text-align:center;"><b><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;">MAXIMUM</font></b></p>
  </td>
 </tr>
<tr>
  <td width=46% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:1.0pt;margin-left:0in;margin-right:0in;margin-top:1.0pt;"><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;">Consolidated
  Operating Revenue Growth</font></p>
  </td>
 <td width=18% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;line-height:115%;">1.0%</font></p>
  </td>
 <td width=18% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;line-height:115%;">13.0%</font></p>
  </td>
 <td width=18% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;line-height:115%;">25.1%</font></p>
  </td>
 </tr>
<tr>
  <td width=46% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:1.0pt;margin-left:0in;margin-right:0in;margin-top:1.0pt;"><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;line-height:115%;">Consolidated Adjusted EBITDA</font></p>
  </td>
 <td width=18% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;line-height:115%;">$820M</font></p>
  </td>
 <td width=18% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;line-height:115%;">$955M</font></p>
  </td>
 <td width=18% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;line-height:115%;">$1,090M</font></p>
  </td>
 </tr>
<tr>
  <td width=46% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:1.0pt;margin-left:0in;margin-right:0in;margin-top:1.0pt;"><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;line-height:115%;">Consolidated Simple FCF</font></p>
  </td>
 <td width=18% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;line-height:115%;">$33M</font></p>
  </td>
 <td width=18% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;line-height:115%;">$123M</font></p>
  </td>
 <td width=18% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;line-height:115%;">$213M</font></p>
  </td>
 </tr>
</table>


</div>


<p style="margin:0in;margin-bottom:.0001pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:10.0pt;">&#159;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Bonus
Payouts As A Percent Of Target At Minimum And Maximum Performance Levels:</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<div align=center>

<table border=1 cellpadding=0 cellspacing=0 style="border:none;border-collapse:collapse;width:100%;">
 <tr>
  <td valign=top width=46% style="background:#D9D9D9;border:solid windowtext 1.0pt;border-bottom:solid windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:1.0pt;margin-left:0in;margin-right:0in;margin-top:1.0pt;text-align:center;"><b><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;">PERFORMANCE MEASURE</font></b></p>
  </td>
 <td width=18% style="background:#D9D9D9;border-bottom:solid windowtext 1.5pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:1.0pt;margin-left:0in;margin-right:0in;margin-top:1.0pt;text-align:center;"><b><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;">MINIMUM</font></b></p>
  </td>
 <td width=17% style="background:#D9D9D9;border-bottom:solid windowtext 1.5pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:1.0pt;margin-left:0in;margin-right:0in;margin-top:1.0pt;text-align:center;"><b><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;">TARGET</font></b></p>
  </td>
 <td valign=top width=19% style="background:#D9D9D9;border-bottom:solid windowtext 1.5pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:1.0pt;margin-left:0in;margin-right:0in;margin-top:1.0pt;text-align:center;"><b><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;">MAXIMUM</font></b></p>
  </td>
 </tr>
<tr>
  <td width=46% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:2.0pt;margin-left:0in;margin-right:0in;margin-top:1.0pt;"><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;">Consolidated
  Operating Revenue Growth</font></p>
  </td>
 <td width=18% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;line-height:115%;">50%</font></p>
  </td>
 <td width=17% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;line-height:115%;">100%</font></p>
  </td>
 <td width=19% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;line-height:115%;">200%</font></p>
  </td>
 </tr>
<tr>
  <td width=46% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:1.0pt;margin-left:0in;margin-right:0in;margin-top:1.0pt;"><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;line-height:115%;">Consolidated Adjusted EBITDA</font></p>
  </td>
 <td width=18% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;line-height:115%;">50%</font></p>
  </td>
 <td width=17% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;line-height:115%;">100%</font></p>
  </td>
 <td width=19% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;line-height:115%;">200%</font></p>
  </td>
 </tr>
<tr>
  <td width=46% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:1.0pt;margin-left:0in;margin-right:0in;margin-top:1.0pt;"><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;line-height:115%;">Consolidated Simple FCF</font></p>
  </td>
 <td width=18% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;line-height:115%;">50%</font></p>
  </td>
 <td width=17% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;line-height:115%;">100%</font></p>
  </td>
 <td width=19% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:6.0pt;margin-left:0in;margin-right:0in;margin-top:6.0pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;line-height:115%;">200%</font></p>
  </td>
 </tr>
</table>


</div>


<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Bonus payouts between the minimum and
target and between target and maximum performance level for each performance
measure will be computed by interpolation.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Any bonus for performance below the
minimum percentage for a performance measure will be at the discretion of the
Compensation Committee.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:10.0pt;">&#159;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Weighting
Of Performance Measures:</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<div align=center>

<table border=1 cellpadding=0 cellspacing=0 style="border:none;border-collapse:collapse;width:100%;">
 <tr>
  <td width=73% style="background:#D9D9D9;border:solid windowtext 1.0pt;border-bottom:solid windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:1.0pt;margin-left:0in;margin-right:0in;margin-top:1.0pt;text-align:center;"><b><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;">PERFORMANCE MEASURE</font></b></p>
  </td>
 <td width=27% style="background:#D9D9D9;border-bottom:solid windowtext 1.5pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:1.0pt;margin-left:0in;margin-right:0in;margin-top:1.0pt;text-align:center;"><b><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;">WEIGHTING</font></b></p>
  </td>
 </tr>
<tr>
  <td width=73% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:1.0pt;margin-left:0in;margin-right:0in;margin-top:1.0pt;"><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;line-height:115%;">Consolidated Operating Revenues Growth</font></p>
  </td>
 <td width=27% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:1.0pt;margin-left:0in;margin-right:0in;margin-top:1.0pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;">40%</font></p>
  </td>
 </tr>
<tr>
  <td width=73% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:1.0pt;margin-left:0in;margin-right:0in;margin-top:1.0pt;"><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;line-height:115%;">Consolidated Adjusted EBITDA</font></p>
  </td>
 <td width=27% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:1.0pt;margin-left:0in;margin-right:0in;margin-top:1.0pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;">40%</font></p>
  </td>
 </tr>
<tr>
  <td width=73% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:1.0pt;margin-left:0in;margin-right:0in;margin-top:1.0pt;"><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;line-height:115%;">Consolidated Simple FCF</font></p>
  </td>
 <td width=27% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:1.0pt;margin-left:0in;margin-right:0in;margin-top:1.0pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;">20%</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=73% style="border:none;border-right:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:1.0pt;margin-left:0in;margin-right:0in;margin-top:1.0pt;"><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;line-height:115%;">&nbsp;</font></p>
  </td>
 <td width=27% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:1.0pt;margin-left:0in;margin-right:0in;margin-top:1.0pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:12.0pt;layout-grid-mode:line;">100%</font></p>
  </td>
 </tr>
</table>


</div>


<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:12.0pt;">&#216;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">THE
PERFORMANCE TARGETS:</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">They will be set by the Compensation
Committee each year based on the plans and objectives of the business.&#160; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;page-break-after:avoid;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:12.0pt;">&#216;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp; </font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">INDIVIDUAL
PERFORMANCE COMPONENT:</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:10.0pt;">&#159;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Weighting:&nbsp;</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#160; 30%</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:10.0pt;">&#159;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Segment
Weighting:</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:12.0pt;">&#251;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Key
Objectives:&#160;&#160;&#160;&#160; </font></i></b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#160;
&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;50%&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:12.0pt;">&#251;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><b><i><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Overall
Performance:</font></i></b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160; &nbsp;</font><u><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&#160;
50%</font></u></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:2.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">100%</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:2.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="mso-bidi-font-family:Times New Roman;mso-bidi-theme-font:minor-bidi;mso-fareast-font-family:Calibri;mso-fareast-theme-font:minor-latin;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">3</font></font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="mso-fareast-font-family:Calibri;mso-fareast-theme-font:minor-latin;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:2.0pt;">&nbsp;</font></p>


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<DIV bclHeader>


<p style="margin:0in;margin-bottom:.0001pt;tab-stops:center 3.25in right 6.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0in;margin-bottom:.0001pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:10.0pt;">&#159;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Level
of Performance and Percent Payout of Target:</font></b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;"><br>
<br>
</font></p>

<div align=center>

<table border=1 cellpadding=0 cellspacing=0 style="border:none;border-collapse:collapse;width:100%;">
 <tr>
  <td width=76% style="background:#D9D9D9;border:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:2.0pt;margin-left:0in;margin-right:0in;margin-top:2.0pt;text-align:center;"><b><font face="Times New Roman,serif" style="font-size:12.0pt;">INDIVIDUAL
  PERFORMANCE</font></b></p>
  </td>
 <td width=24% style="background:#D9D9D9;border:none;border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:2.0pt;margin-left:0in;margin-right:0in;margin-top:2.0pt;text-align:center;"><b><font face="Times New Roman,serif" style="font-size:12.0pt;">% PAYOUT OF</font></b></p>
  <p align=center style="margin:0in;margin-bottom:2.0pt;margin-left:0in;margin-right:0in;margin-top:2.0pt;text-align:center;"><b><font face="Times New Roman,serif" style="font-size:12.0pt;">TARGET</font></b></p>
  </td>
 </tr>
<tr>
  <td valign=top width=76% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:2.0pt;margin-left:0in;margin-right:0in;margin-top:2.0pt;"><b><i><font face="Times New Roman,serif" style="font-size:12.0pt;">Far
  Exceeded Expectations:&#160; </font></i></b><font face="Times New Roman,serif" style="font-size:12.0pt;">Performance greatly exceeded that
  which was planned and expected.</font></p>
  </td>
 <td width=24% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:12.0pt;">140% - 160%</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=76% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:2.0pt;margin-left:0in;margin-right:0in;margin-top:2.0pt;"><b><i><font face="Times New Roman,serif" style="font-size:12.0pt;">Significantly
  Exceeded Expectations: </font></i></b><font face="Times New Roman,serif" style="font-size:12.0pt;">Performance significantly exceeded
  that which was planned and expected.</font></p>
  </td>
 <td width=24% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:12.0pt;">115% - 135%</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=76% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:2.0pt;margin-left:0in;margin-right:0in;margin-top:2.0pt;"><b><i><font face="Times New Roman,serif" style="font-size:12.0pt;">Successfully
  Met Expectations:</font></i></b><font face="Times New Roman,serif" style="font-size:12.0pt;">&#160; Performance was close to that which was planned
  and expected.</font></p>
  </td>
 <td width=24% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:12.0pt;">85% - 110%</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=76% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:2.0pt;margin-left:0in;margin-right:0in;margin-top:2.0pt;"><b><i><font face="Times New Roman,serif" style="font-size:12.0pt;">Partially
  Met Expectations:</font></i></b><font face="Times New Roman,serif" style="font-size:12.0pt;"> Performance was sufficient to merit a partial
  bonus.</font></p>
  </td>
 <td width=24% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:12.0pt;">60% - 80%</font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=76% style="border:none;border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p style="margin:0in;margin-bottom:2.0pt;margin-left:0in;margin-right:0in;margin-top:2.0pt;"><b><i><font face="Times New Roman,serif" style="font-size:12.0pt;">Did
  Not Meet Expectations:&#160; </font></i></b><font face="Times New Roman,serif" style="font-size:12.0pt;">Performance was not sufficient to
  merit a bonus.</font></p>
  </td>
 <td width=24% style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:solid windowtext 1.0pt;border-top:none;padding:0in 5.4pt 0in 5.4pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman,serif" style="font-size:12.0pt;">0%</font></p>
  </td>
 </tr>
</table>


</div>


<p style="margin:0in;margin-bottom:.0001pt;"><font face=Arial,sans-serif lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:10.0pt;">&#159;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Key
Objectives:</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">With regard to this bonus opportunity,
the TDS President and CEO will, with input from the executive officer, assign
the executive officer 2 to 5 or so major initiatives to be carried out during
the year, and decide how each will be weighted.&#160; As appropriate, these
objectives will include that executive officer&#8217;s expected individual
contribution(s) toward executing the Company&#8217;s Portfolio Management Strategy.&#160; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">With the approval of the TDS President
and CEO, an executive officer&#8217;s objectives and weightings may be revised during
the performance year if important new initiatives arise or circumstances with
respect to an objective have materially changed.&#160; Performance on each selected
objective will be based on the TDS President and CEO&#8217;s assessment of the
results the executive/the executive&#8217;s team achieved in meeting the assigned
objectives.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:10.0pt;">&#159;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Overall
Performance:</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Each officer&#8217;s overall performance for
the year will be assessed by the TDS President and CEO based on his
effectiveness/success with regard to:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:12.0pt;">&#251;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Carrying
out his/her ongoing responsibilities and significant initiatives during the
performance year (other than his/her above discussed key objectives).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:12.0pt;">&#251;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Recommending/making
decisions; taking actions; and providing support, assistance and counsel to the
business units, and to help achieve TDS Corporate Portfolio Strategy agreed
upon metrics and milestones.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:12.0pt;">&#251;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Providing
support, assistance and counsel to corporate senior leaders and management.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">In making these assessments, the TDS
President and CEO will take into consideration:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:12.0pt;">&#251;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">His/her
evaluation of the officer&#8217;s performance in the above areas.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="mso-bidi-font-family:Times New Roman;mso-bidi-theme-font:minor-bidi;mso-fareast-font-family:Calibri;mso-fareast-theme-font:minor-latin;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">4</font></font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="mso-fareast-font-family:Calibri;mso-fareast-theme-font:minor-latin;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:2.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_5"></a><DIV bclPageBorder STYLE="WIDTH: 100%; PADDING-RIGHT: 5%; PADDING-LEFT: 5%">

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<p style="margin:0in;margin-bottom:.0001pt;tab-stops:center 3.25in right 6.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


</DIV>
<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:12.0pt;">&#251;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp; </font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The annual
written performance feedback he/she receives on the executive officer from
his/her peers.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:12.0pt;">&#251;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The
every-other-year written performance input he receives from the executive
officer&#8217;s direct reports and other key associates.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:12.0pt;">&#251;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The
executive officer&#8217;s report on his/her activities/accomplishments for the performance
year.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.75in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:12.0pt;">&#251;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Such
other creditable input as he/she may receive during the year about an officer&#8217;s
performance.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:12.0pt;">&#216;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">DETERMINATION
OF BONUS AWARDS:</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Once the Company performance bonus
percentage is known, the TDS President and CEO will recommend to the Compensation
Committee for each participating executive officer:</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:10.0pt;">&#159;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">His/her
company performance bonus.&#160; This will be the amount calculated in accordance
with the terms of this program (unless the TDS President and CEO feels that
there is a compelling rationale to recommend an adjustment to this amount,
which he would provide to the Committee).</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.5in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:10.0pt;">&#159;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">His/her
recommended individual performance bonus, and his/her total recommended bonus.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The Compensation Committee will review
these proposed bonus awards and either approve them as submitted or revise some
or all of them, as they deem appropriate.&#160; Once the Committee and TDS President
and CEO finalize the officers&#8217; bonus awards, they may be paid.&#160; </font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Approved bonus awards shall be paid
during the period commencing on the January 1<sup>st</sup> immediately
following the performance year and ending on March 15<sup>th</sup> immediately
following the performance year.&#160; Notwithstanding the foregoing, in the event
that payment by such March 15<sup>th</sup> is administratively impracticable
and such impracticability was unforeseeable, payment will be made as soon as
administratively practicable after such March 15<sup>th</sup>, but in no event
later than December 31<sup>st</sup> following the performance year.&#160; Payment
will be made in the form of a lump sum.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Notwithstanding any provision of this
bonus program to the contrary, a participating officer does not have a legally
binding right to a bonus unless and until the bonus amount, if any, is paid and
no bonus shall be paid unless the officer remains employed through the actual
bonus payout date unless otherwise approved at the discretion of the
Compensation Committee or President and CEO of TDS, as applicable.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;page-break-after:avoid;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:12.0pt;">&#216;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp; </font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">REVISIONS TO THE
OFFICER BONUS PROGRAM:</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">The TDS Officer Bonus Program may be
revised or discontinued at any time and for any reason.&#160; If and when either the
Compensation Committee and/or management determines that the TDS Officer Bonus
Program should be revised, the parties will discuss the proposed change(s) and
the rationale for them, following which the Committee will determine what, if
any, changes will be made.</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;text-indent:-.25in;"><font face=Wingdings lang=EN-US style="font-size:12.0pt;">&#216;</font><font face="Times New Roman" lang=EN-US style="font-size:7.0pt;">&nbsp;
</font><b><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">BONUS
CLAWBACK:</font></b></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:.25in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">Any bonus paid pursuant to this program
is subject to recovery by TDS or any other action pursuant to any clawback or
recoupment policy which TDS may adopt from time to time, including without limitation
any such policy which TDS may be required to adopt under the Dodd-Frank Wall
Street Reform and Consumer Protection Act and implementing rules and
regulations thereunder, or as otherwise required by law.</font></p>




<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;line-height:.2pt;">&nbsp;</font></p>


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<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="mso-bidi-font-family:Times New Roman;mso-bidi-theme-font:minor-bidi;mso-fareast-font-family:Calibri;mso-fareast-theme-font:minor-latin;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">5</font></font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="mso-fareast-font-family:Calibri;mso-fareast-theme-font:minor-latin;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:2.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_6"></a><DIV bclPageBorder STYLE="WIDTH: 100%; PADDING-RIGHT: 5%; PADDING-LEFT: 5%">

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<p style="margin:0in;margin-bottom:.0001pt;tab-stops:center 3.25in right 6.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


</DIV>

<div align=left><table border=1 cellpadding=0 cellspacing=0 style="border:none;border-collapse:collapse;width:100%;">
 <tr style="height:18.75pt;">
  <td colspan=6 valign=bottom width=100% style="background:white;border:none;height:18.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=gray face="Times New Roman,serif" style="font-size:14.0pt;">Appendix A: 2015 Payout Grids - Company
  Performance Component</font></b></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:white;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=gray face="Times New Roman,serif" style="font-size:14.0pt;">&#160;&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=gray face="Times New Roman,serif" style="font-size:14.0pt;">&#160;&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=gray face="Times New Roman,serif" style="font-size:14.0pt;">&#160;&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=gray face="Times New Roman,serif" style="font-size:14.0pt;">&#160;&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=gray face="Times New Roman,serif" style="font-size:14.0pt;">&#160;&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-bottom:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=gray face="Times New Roman,serif" style="font-size:14.0pt;">&#160;&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td colspan=6 valign=bottom width=100% style="background:#95B3D7;border:none;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">CONSOLIDATED REVENUE GROWTH ($ in
  Millions)</font></b></p>
  </td>
 </tr>
<tr style="height:26.25pt;">
  <td valign=bottom width=17% style="background:white;border:none;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:26.25pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Target Total Revenue</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:26.25pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">YoY </font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Growth ($)</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:26.25pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Target YoY </font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Growth %</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:26.25pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Results ($) as a </font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">% of Target</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:26.25pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Total Bonus </font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Points Earned</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:26.25pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">% of Bonus </font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Points Earned</font></b></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:#95B3D7;border:none;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&lt;$5,060</font></p>
  </td>
 <td valign=bottom width=17% style="background:#95B3D7;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">N/A</font></p>
  </td>
 <td valign=bottom width=17% style="background:#95B3D7;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">N/A</font></p>
  </td>
 <td valign=bottom width=17% style="background:#95B3D7;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">N/A</font></p>
  </td>
 <td valign=bottom width=16% style="background:#95B3D7;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&lt;200</font></p>
  </td>
 <td valign=bottom width=16% style="background:#95B3D7;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">0%</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:white;border-bottom:none;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$5,060</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$50</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">1.0%</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">89%</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">200&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">50%</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:white;border-bottom:none;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$5,180</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$171</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">3.4%</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">91%</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">240&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">60%</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:white;border-bottom:none;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$5,301</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$291</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">5.8%</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">94%</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">280&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">70%</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:white;border-bottom:none;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$5,421</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$412</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">8.2%</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">96%</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">320&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">80%</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:white;border-bottom:none;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$5,542</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$533</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">10.6%</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">98%</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">360&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">90%</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:#95B3D7;border-bottom:none;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$5,663</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#95B3D7;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$653</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#95B3D7;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">13.0%</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#95B3D7;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">100%</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#95B3D7;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">400&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#95B3D7;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">100%</font></b></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:white;border-bottom:none;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$5,783</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$774</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">15.4%</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">102%</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">480&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">120%</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:white;border-bottom:none;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$5,904</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$894</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">17.9%</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">104%</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">560&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">140%</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:white;border-bottom:none;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$6,024</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$1,015</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">20.3%</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">106%</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">640&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">160%</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:white;border-bottom:none;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$6,145</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$1,136</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">22.7%</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">109%</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">720&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">180%</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:white;border:none;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$6,266</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$1,256</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">25.1%</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">111%</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">800&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">200%</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:#95B3D7;border:none;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&gt;$6,266</font></p>
  </td>
 <td valign=bottom width=17% style="background:#95B3D7;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">N/A</font></p>
  </td>
 <td valign=bottom width=17% style="background:#95B3D7;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">N/A</font></p>
  </td>
 <td valign=bottom width=17% style="background:#95B3D7;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">N/A</font></p>
  </td>
 <td valign=bottom width=16% style="background:#95B3D7;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&gt;800</font></p>
  </td>
 <td valign=bottom width=16% style="background:#95B3D7;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">200%</font></p>
  </td>
 </tr>
</table></div>



<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:11.0pt;">&nbsp;</font></p>

<div align=left><table border=1 cellpadding=0 cellspacing=0 style="border:none;border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=6 valign=bottom width=100% style="background:#95B3D7;border:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">CONSOLIDATED ADJUSTED EBITDA ($ in
  Millions)</font></b></p>
  </td>
 </tr>
<tr style="height:26.25pt;">
  <td valign=bottom width=17% style="background:white;border:none;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:26.25pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Target Total </font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Adj. EBITDA</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:26.25pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">YoY </font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Growth ($)</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:26.25pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">YoY </font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Growth %</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:26.25pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Bonus Results as a </font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">% of Target</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:26.25pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Total Bonus </font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Points Earned</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:26.25pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">% of Bonus </font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Points Earned</font></b></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:#95B3D7;border:none;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&lt;$820</font></p>
  </td>
 <td valign=bottom width=17% style="background:#95B3D7;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">N/A</font></p>
  </td>
 <td valign=bottom width=17% style="background:#95B3D7;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">N/A</font></p>
  </td>
 <td valign=bottom width=17% style="background:#95B3D7;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">N/A</font></p>
  </td>
 <td valign=bottom width=16% style="background:#95B3D7;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&lt;200</font></p>
  </td>
 <td valign=bottom width=16% style="background:#95B3D7;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">0%</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:white;border-bottom:none;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$820</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$39</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">5.0%</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">86%</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">200&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">50%</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:white;border-bottom:none;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$847</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$66</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">8.4%</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">89%</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">240&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">60%</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:white;border-bottom:none;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$874</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$93</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">11.9%</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">92%</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">280&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">70%</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:white;border-bottom:none;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$901</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$120</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">15.3%</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">94%</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">320&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">80%</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:white;border-bottom:none;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$928</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$147</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">18.8%</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">97%</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">360&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">90%</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:#95B3D7;border-bottom:none;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$955</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#95B3D7;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$174</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#95B3D7;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">22.2%</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#95B3D7;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">100%</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#95B3D7;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">400&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#95B3D7;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">100%</font></b></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:white;border-bottom:none;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$982</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$201</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">25.7%</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">103%</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">480&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">120%</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:white;border-bottom:none;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$1,009</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$228</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">29.1%</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">106%</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">560&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">140%</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:white;border-bottom:none;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$1,036</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$254</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">32.6%</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">108%</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">640&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">160%</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:white;border-bottom:none;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$1,063</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$281</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">36.0%</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">111%</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">720&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">180%</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:white;border:none;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$1,090</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$308</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">39.5%</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">114%</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">800&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">200%</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:#95B3D7;border:none;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&gt;$1,090</font></p>
  </td>
 <td valign=bottom width=17% style="background:#95B3D7;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">N/A</font></p>
  </td>
 <td valign=bottom width=17% style="background:#95B3D7;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">N/A</font></p>
  </td>
 <td valign=bottom width=17% style="background:#95B3D7;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">N/A</font></p>
  </td>
 <td valign=bottom width=16% style="background:#95B3D7;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&gt;800</font></p>
  </td>
 <td valign=bottom width=16% style="background:#95B3D7;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">200%</font></p>
  </td>
 </tr>
</table></div>



<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>

<div align=left><table border=1 cellpadding=0 cellspacing=0 style="border:none;border-collapse:collapse;width:100%;">
 <tr style="height:12.75pt;">
  <td colspan=6 valign=bottom width=100% style="background:#95B3D7;border:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">CONSOLIDATED FCF ($ in Millions)</font></b></p>
  </td>
 </tr>
<tr style="height:26.25pt;">
  <td valign=bottom width=17% style="background:white;border:none;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:26.25pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Target Total </font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">FCF</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:26.25pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">YoY </font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Growth ($)</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:26.25pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">YoY </font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Growth %</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:26.25pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Bonus Results as a </font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">% of Target</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:26.25pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Total Bonus </font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Points Earned</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:26.25pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">% of Bonus </font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Points Earned</font></b></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:#95B3D7;border:none;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&lt;$33</font></p>
  </td>
 <td valign=bottom width=17% style="background:#95B3D7;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">N/A</font></p>
  </td>
 <td valign=bottom width=17% style="background:#95B3D7;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">N/A</font></p>
  </td>
 <td valign=bottom width=17% style="background:#95B3D7;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">N/A</font></p>
  </td>
 <td valign=bottom width=16% style="background:#95B3D7;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&lt;100</font></p>
  </td>
 <td valign=bottom width=16% style="background:#95B3D7;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">0%</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:white;border-bottom:none;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$33</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$23</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&gt;100%</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">27%</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">100&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">50%</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:white;border-bottom:none;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$51</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$41</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&gt;100%</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">42%</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">120&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">60%</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:white;border-bottom:none;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$69</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$59</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&gt;100%</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">56%</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">140&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">70%</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:white;border-bottom:none;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$87</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$77</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&gt;100%</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">71%</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">160&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">80%</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:white;border-bottom:none;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$105</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$95</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&gt;100%</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">85%</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">180&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">90%</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:#95B3D7;border-bottom:none;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$123</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#95B3D7;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$113</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#95B3D7;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&gt;100%</font></b></p>
  </td>
 <td valign=bottom width=17% style="background:#95B3D7;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">100%</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#95B3D7;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">200&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=16% style="background:#95B3D7;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">100%</font></b></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:white;border-bottom:none;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$141</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$131</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&gt;100%</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">115%</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">240&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">120%</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:white;border-bottom:none;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$159</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$149</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&gt;100%</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">129%</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">280&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">140%</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:white;border-bottom:none;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$177</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$167</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&gt;100%</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">144%</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">320&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">160%</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:white;border-bottom:none;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$195</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$185</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&gt;100%</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">158%</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">360&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border:none;border-right:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">180%</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:white;border:none;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$213</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$203</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&gt;100%</font></p>
  </td>
 <td valign=bottom width=17% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">173%</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">400&nbsp;</font></p>
  </td>
 <td valign=bottom width=16% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">200%</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=17% style="background:#95B3D7;border:none;border-bottom:solid black 1.0pt;border-left:solid black 1.0pt;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&gt;$213</font></p>
  </td>
 <td valign=bottom width=17% style="background:#95B3D7;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">N/A</font></p>
  </td>
 <td valign=bottom width=17% style="background:#95B3D7;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">N/A</font></p>
  </td>
 <td valign=bottom width=17% style="background:#95B3D7;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">N/A</font></p>
  </td>
 <td valign=bottom width=16% style="background:#95B3D7;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&gt;400</font></p>
  </td>
 <td valign=bottom width=16% style="background:#95B3D7;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.0pt;border-top:none;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">200%</font></p>
  </td>
 </tr>
</table></div>






<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;line-height:.2pt;">&nbsp;</font></p>


<DIV bclFooter>


<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="mso-bidi-font-family:Times New Roman;mso-bidi-theme-font:minor-bidi;mso-fareast-font-family:Calibri;mso-fareast-theme-font:minor-latin;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">6</font></font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="mso-fareast-font-family:Calibri;mso-fareast-theme-font:minor-latin;"><font face="Times New Roman,serif" lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman,serif" lang=EN-US style="font-size:2.0pt;">&nbsp;</font></p>


</DIV>
</DIV><HR noshade align="center" width="100%" size=2><DIV STYLE="page-break-before: always">&nbsp;</div><a name="page_7"></a><DIV bclPageBorder STYLE="WIDTH: 100%; PADDING-RIGHT: 5%; PADDING-LEFT: 5%">

<DIV bclHeader>


<p style="margin:0in;margin-bottom:.0001pt;tab-stops:center 3.25in right 6.5in;"><font face="Times New Roman,serif" lang=EN-US style="font-size:12.0pt;">&nbsp;</font></p>


</DIV>

<div align=left><table border=1 cellpadding=0 cellspacing=0 style="border:none;border-collapse:collapse;width:100%;">
 <tr style="height:18.75pt;">
  <td colspan=5 valign=bottom width=100% style="background:white;border:none;height:18.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=gray face="Times New Roman,serif" style="font-size:14.0pt;">Appendix B: Financial Metrics Detail</font></b></p>
  </td>
 </tr>
<tr style="height:12.0pt;">
  <td valign=bottom width=2% style="background:white;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=gray face="Times New Roman,serif" style="font-size:14.0pt;">&#160;&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=48% style="background:white;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=gray face="Times New Roman,serif" style="font-size:14.0pt;">&#160;&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=23% style="background:white;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=gray face="Times New Roman,serif" style="font-size:14.0pt;">&#160;&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=2% style="background:white;border:none;height:12.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=gray face="Times New Roman,serif" style="font-size:14.0pt;">&#160;&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=25% style="background:white;border:none;border-bottom:solid black 1.0pt;height:12.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=gray face="Times New Roman,serif" style="font-size:14.0pt;">&#160;&nbsp;</font></b></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td colspan=2 valign=bottom width=50% style="background:white;border:none;border-left:solid black 1.0pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">2015 Bonus -
  Financial Metrics</font></b></p>
  </td>
 <td rowspan=2 valign=bottom width=23% style="background:#95B3D7;border:none;border-bottom:solid black 1.5pt;border-left:solid black 1.5pt;border-right:solid black 1.5pt;border-top:none;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">2014</font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Actual</font></b></p>
  </td>
 <td valign=bottom width=2% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td rowspan=2 valign=bottom width=25% style="background:#D7E4BD;border-bottom:solid black 1.5pt;border-left:none;border-right:solid black 1.5pt;border-top:none;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">2015 </font></b></p>
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Bonus Targets (1)</font></b></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td colspan=2 valign=bottom width=50% style="background:white;border-bottom:solid black 1.5pt;border-left:solid black 1.0pt;border-right:none;border-top:none;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$ in
  Millions</font></b></p>
  </td>
 <td valign=bottom width=2% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:12.75pt;">
  <td valign=bottom width=2% style="background:white;border:none;border-left:solid black 1.0pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=48% style="background:white;border:none;border-right:solid black 1.5pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=23% style="background:white;border:none;border-right:solid black 1.5pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=2% style="background:white;border:none;border-right:solid black 1.5pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=25% style="background:white;border:none;border-right:solid black 1.5pt;height:12.75pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td colspan=2 valign=bottom width=50% style="background:white;border:none;border-left:solid black 1.0pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">TDS
  Consolidated Operating Revenue</font></b></p>
  </td>
 <td valign=bottom width=23% style="background:white;border-bottom:none;border-left:solid black 1.5pt;border-right:solid black 1.5pt;border-top:none;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=25% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=2% style="background:white;border:none;border-left:solid black 1.0pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=48% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">U.S. Cellular
  Total Revenue</font></p>
  </td>
 <td valign=bottom width=23% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$3,893</font></p>
  </td>
 <td valign=bottom width=2% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=25% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$4,481</font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=2% style="background:white;border:none;border-left:solid black 1.0pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=48% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Wireline
  Segment</font></p>
  </td>
 <td valign=bottom width=23% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$715</font></p>
  </td>
 <td valign=bottom width=2% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=25% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$692</font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=2% style="background:white;border:none;border-left:solid black 1.0pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=48% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">HMS Segment</font></p>
  </td>
 <td valign=bottom width=23% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$259</font></p>
  </td>
 <td valign=bottom width=2% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=25% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$288</font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=2% style="background:white;border:none;border-left:solid black 1.0pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=48% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Cable Segment</font></p>
  </td>
 <td valign=bottom width=23% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$117</font></p>
  </td>
 <td valign=bottom width=2% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=25% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$187</font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=2% style="background:white;border:none;border-left:solid black 1.0pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=48% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">TDS Telecom
  Eliminations</font></p>
  </td>
 <td valign=bottom width=23% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">($3)</font></p>
  </td>
 <td valign=bottom width=2% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=25% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">($1)</font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=2% style="background:white;border:none;border-left:solid black 1.0pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=48% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">TDS Parent and
  Eliminations</font></p>
  </td>
 <td valign=bottom width=23% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.5pt;border-top:none;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$28</font></p>
  </td>
 <td valign=bottom width=2% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=25% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.5pt;border-top:none;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$17</font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td colspan=2 valign=bottom width=50% style="background:white;border-bottom:none;border-left:solid black 1.0pt;border-right:solid black 1.5pt;border-top:none;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Total TDS
  Cons. Operating Revenue</font></b></p>
  </td>
 <td valign=bottom width=23% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$5,009</font></p>
  </td>
 <td valign=bottom width=2% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=25% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$5,663</font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=2% style="background:white;border-bottom:solid black 1.5pt;border-left:solid black 1.0pt;border-right:none;border-top:none;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></b></p>
  </td>
 <td valign=bottom width=48% style="background:white;border-bottom:solid black 1.5pt;border-left:none;border-right:solid black 1.5pt;border-top:none;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Growth</font></b></p>
  </td>
 <td valign=bottom width=23% style="background:white;border-bottom:solid black 1.5pt;border-left:none;border-right:solid black 1.5pt;border-top:none;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=25% style="background:white;border-bottom:solid black 1.5pt;border-left:none;border-right:solid black 1.5pt;border-top:none;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">13.0%</font></b></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td colspan=2 valign=bottom width=50% style="background:white;border:none;border-left:solid black 1.0pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Adjusted
  EBITDA</font></b></p>
  </td>
 <td valign=bottom width=23% style="background:white;border-bottom:none;border-left:solid black 1.5pt;border-right:solid black 1.5pt;border-top:none;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=25% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=2% style="background:white;border:none;border-left:solid black 1.0pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=48% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">U.S. Cellular</font></p>
  </td>
 <td valign=bottom width=23% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$480</font></p>
  </td>
 <td valign=bottom width=2% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=25% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$650</font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=2% style="background:white;border:none;border-left:solid black 1.0pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=48% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">TDS Telecom</font></p>
  </td>
 <td valign=bottom width=23% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$298</font></p>
  </td>
 <td valign=bottom width=2% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=25% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$298</font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=2% style="background:white;border:none;border-left:solid black 1.0pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=48% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Parent and
  Other</font></p>
  </td>
 <td valign=bottom width=23% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.5pt;border-top:none;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$3</font></p>
  </td>
 <td valign=bottom width=2% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=25% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.5pt;border-top:none;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$8</font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=2% style="background:white;border-bottom:solid black 1.5pt;border-left:solid black 1.0pt;border-right:none;border-top:none;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=48% style="background:white;border-bottom:solid black 1.5pt;border-left:none;border-right:solid black 1.5pt;border-top:none;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">TDS
  Consolidated</font></b></p>
  </td>
 <td valign=bottom width=23% style="background:white;border-bottom:solid black 1.5pt;border-left:none;border-right:solid black 1.5pt;border-top:none;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$781</font></b></p>
  </td>
 <td valign=bottom width=2% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=25% style="background:white;border-bottom:solid black 1.5pt;border-left:none;border-right:solid black 1.5pt;border-top:none;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$955</font></b></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td colspan=2 valign=bottom width=50% style="background:white;border:none;border-left:solid black 1.0pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Capex</font></b></p>
  </td>
 <td valign=bottom width=23% style="background:white;border-bottom:none;border-left:solid black 1.5pt;border-right:solid black 1.5pt;border-top:none;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=25% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=2% style="background:white;border:none;border-left:solid black 1.0pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=48% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">U.S. Cellular</font></p>
  </td>
 <td valign=bottom width=23% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">($558)</font></p>
  </td>
 <td valign=bottom width=2% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=25% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">($604)</font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=2% style="background:white;border:none;border-left:solid black 1.0pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=48% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">TDS Telecom</font></p>
  </td>
 <td valign=bottom width=23% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">($208)</font></p>
  </td>
 <td valign=bottom width=2% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=25% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">($220)</font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=2% style="background:white;border:none;border-left:solid black 1.0pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=48% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Parent and
  Other</font></p>
  </td>
 <td valign=bottom width=23% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.5pt;border-top:none;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">($5)</font></p>
  </td>
 <td valign=bottom width=2% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=25% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.5pt;border-top:none;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">($8)</font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=2% style="background:white;border-bottom:solid black 1.5pt;border-left:solid black 1.0pt;border-right:none;border-top:none;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=48% style="background:white;border-bottom:solid black 1.5pt;border-left:none;border-right:solid black 1.5pt;border-top:none;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">TDS Consolidated</font></b></p>
  </td>
 <td valign=bottom width=23% style="background:white;border-bottom:solid black 1.5pt;border-left:none;border-right:solid black 1.5pt;border-top:none;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">($771)</font></b></p>
  </td>
 <td valign=bottom width=2% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=25% style="background:white;border-bottom:solid black 1.5pt;border-left:none;border-right:solid black 1.5pt;border-top:none;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">($832)</font></b></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td colspan=2 valign=bottom width=50% style="background:white;border:none;border-left:solid black 1.0pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Free Cash
  Flow (Adj. EBITDA less Capex)</font></b></p>
  </td>
 <td valign=bottom width=23% style="background:white;border-bottom:none;border-left:solid black 1.5pt;border-right:solid black 1.5pt;border-top:none;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=2% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=25% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=2% style="background:white;border:none;border-left:solid black 1.0pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=48% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">U.S. Cellular</font></p>
  </td>
 <td valign=bottom width=23% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">($77)</font></p>
  </td>
 <td valign=bottom width=2% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=25% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$46</font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=2% style="background:white;border:none;border-left:solid black 1.0pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=48% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">TDS Telecom</font></p>
  </td>
 <td valign=bottom width=23% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$90</font></p>
  </td>
 <td valign=bottom width=2% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=25% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$77</font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=2% style="background:white;border:none;border-left:solid black 1.0pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=48% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">Parent and
  Other</font></p>
  </td>
 <td valign=bottom width=23% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.5pt;border-top:none;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">($2)</font></p>
  </td>
 <td valign=bottom width=2% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=25% style="background:white;border-bottom:solid black 1.0pt;border-left:none;border-right:solid black 1.5pt;border-top:none;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$0</font></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td valign=bottom width=2% style="background:white;border-bottom:solid black 1.5pt;border-left:solid black 1.0pt;border-right:none;border-top:none;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=48% style="background:white;border-bottom:solid black 1.5pt;border-left:none;border-right:solid black 1.5pt;border-top:none;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">TDS
  Consolidated</font></b></p>
  </td>
 <td valign=bottom width=23% style="background:white;border-bottom:solid black 1.5pt;border-left:none;border-right:solid black 1.5pt;border-top:none;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$10</font></b></p>
  </td>
 <td valign=bottom width=2% style="background:white;border:none;border-right:solid black 1.5pt;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">&#160;&nbsp;</font></p>
  </td>
 <td valign=bottom width=25% style="background:white;border-bottom:solid black 1.5pt;border-left:none;border-right:solid black 1.5pt;border-top:none;height:15.0pt;padding:0in 0in 0in 0in;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">$123</font></b></p>
  </td>
 </tr>
<tr style="height:15.0pt;">
  <td colspan=5 valign=bottom width=100% style="background:white;border:none;height:15.0pt;padding:0in 0in 0in 0in;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font color=black face="Times New Roman,serif" style="font-size:10.0pt;">(1) 2015 bonus
  targets represent the 2015 budget approved by the Board of Directors in
  December 2014</font></p>
  </td>
 </tr>
</table></div>



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