1025 Eldorado Boulevard
Broomfield, CO 80021
CEO: James Crowe
Stock Symbol: LVLT
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
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
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
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.
All eligible full-time Level 3 employee-owners may participate
in the Outperform Stock Option program.
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.
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
Our employee-owners also earn vacation on a monthly basis as
- Years 0-2: 10 days per year
- Years 3-9: 15 days per year
- 10 or more years: 20 days per year
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
Updated September 20, 2005