Level 3 Communications

Provides communications and Internet backbone services.

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1025 Eldorado Boulevard
Broomfield, CO 80021
Employees: 4,500
CEO: James Crowe
Stock Symbol: LVLT

Website: http://www.level3.com

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Level 3 operates one of the largest communications and Internet backbones in the world. It is one of the largest providers of wholesale dial-up service to Internet Service Providers in North America and is the primary provider of Internet connectivity for millions of broadband subscribers through its cable and DSL partners.

The world's largest telecom carriers use Level 3 services, as do the 10 largest U.S. Internet Service Providers, and the 10 largest European telecom carriers.

The company offers a wide range of communications services over its approximately 23,000 mile broadband fiber optic network including Internet Protocol (IP) services, broadband transport, colocation services, and patented Softswitch-based managed modem and voice services.

In 2004, Level 3 reported revenues of $3.7 billion and a net loss of $458 million. The company has not been profitable for the past few years.


Level 3 Communications, Inc. was originally founded in 1985 as Kiewit Diversified Group Inc. (KDG), a wholly-owned subsidiary of Peter Kiewit Sons', Inc. (PKS), a 114-year-old construction, mining, information services and communications company headquartered in Omaha, Nebraska. KDG was originally created to hold PKS' non-construction business assets.

On January 19, 1998, KDG announced it was changing its name to Level 3 Communications, Inc. Since late 1997, the company has substantially increased the emphasis it places on and the resources devoted to its communications and information services business.

On March 31, 1998, PKS announced the separation of its construction and communication/information services business, establishing Level 3 as an independent corporation. Prior to April 1, 1998, Level 3's common stock was traded on the OTC Bulletin Board under the symbol KIWT. On April 1, 1998, Level 3 common stock started trading on the Nasdaq National Market under the symbol LVLT.


Health Care

Choose from two medical plans - the United HealthCare EPO or the United HealthCare PPO. An out-of-area plan is also available to employee-owners living outside of United HealthCare's EPO/PPO service area. You can choose to cover yourself only or yourself and your dependents. Your medical coverage costs are paid by a combination of deductions from your paycheck and contributions from Level 3.
Comprehensive dental coverage is provided through MetLife. You can choose to cover yourself only or yourself and your dependents. Your dental coverage is paid for by a combination of deductions from your paycheck and contributions from Level 3.
Level 3 offers one comprehensive Vision Service Plan (VSP). Choose to cover yourself only or yourself and your dependents, or to wave vision coverage altogether. Your vision coverage is paid for by a combination of deductions from your paycheck and contributions from Level 3.

Basic Life and Accidental Death Coverage

Level 3 provides you with life insurance protection in the amount of two times your base annual pay, up to $750,000.
Supplemental Life Insurance
You can also elect to purchase more life insurance protection for yourself (from one to five times your base annual pay, up to $1,000,000).
Spouse Life Insurance
You can purchase spouse life insurance as well. This benefit is capped at 50% of your supplemental life amount, up to $250,000.
Child Life Insurance
Child life coverage is also available for you to purchase in increments of $2,000 up to $20,000.
Voluntary Accidental Death Insurance
You can elect to purchase additional accident insurance in amounts from one to 10 times your base annual pay, up to $1,000,000. This plan allows you to cover yourself only or yourself and your family as well.

Employee Assistance Program (EAP)
The EAP provides confidential counseling for a variety of situations, including family and marital problems, substance abuse, and emotional problems. Once you become an employee-owner, you can call the EAP toll-free at anytime - 24 hours a day, 365 days a year. The program also provides up to three counseling sessions at no cost to you and the services are completely confidential.

Flexible Spending Accounts
Our health care and dependent care spending accounts enable you to pay for eligible health care and/or dependent care expenses on a pre-tax basis. You contribute through convenient payroll deductions, then submit claims for reimbursement of expenses.

Ownership Plans
All eligible full-time Level 3 employee-owners may participate in the Outperform Stock Option program.

401(k) Plan
You can elect to contribute up to 25% of your eligible pay, up to $12,000 (the maximum legal limit in 2003) to the 401(k) Plan on a pre-tax basis and direct contributions into nine investment funds currently available through the Plan. Level 3 matches 100% of employee-owner contributions up to the first 7% of eligible earnings in company stock (up to the statutory limit.) All company matches vest once you have completed three years of service from your hire date. The match, as well as employee-owner contributions can be diversified into the other investment funds offered through the Plan as soon as it is credited to your account. The ability to immediately diversify a company match is subject to compliance with Level 3's Insider Trading policies and procedures. In addition, you won't pay any taxes on your contributions or their earnings until you receive a distribution of money from your account.

Educational Assistance
At Level 3, we encourage our employee-owners to constantly explore their career growth opportunities, and our Educational Assistance program reflects this belief. This program covers courses related to your career growth or to developing and fine-tuning the skills needed in your current position. Level 3 reimburses up to $5,250 of your eligible expenses each year.

Level 3's employee-owners receive 7 1/2 paid holidays, including New Year's Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day and the day after, Christmas Eve (1/2 day), and Christmas Day. In addition, you have three floating holidays to take at your discretion.

Our employee-owners also earn vacation on a monthly basis as follows:

- Years 0-2: 10 days per year
- Years 3-9: 15 days per year
- 10 or more years: 20 days per year


Discounts: Level 3's employee-owners can take advantage of several discounts and memberships, including, Universal Studios - Hollywood, Universal Studios - Florida, Vail Resorts, and the Ford X plan. 
At our Interlocken location, our TimeWise Concierge service is available for a small co-pay to help you manage your time, boost your working time productivity, and improve your quality of life.

Updated September 20, 2005

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