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<P align="center"><FONT size="2">As filed with the Securities and Exchange Commission on November&nbsp;21, 2001
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<P align="right"><FONT size="2"><B>Registration No.&nbsp;333-</B>
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<P align="center"><FONT size="2"><B>SECURITIES AND EXCHANGE COMMISSION<BR>
WASHINGTON, D.C. 20549</B>
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<P align="center"><FONT size="3"><B>FORM S-8</B>
</FONT>

<P align="center"><FONT size="2"><B>REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933</B>
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<P align="center"><FONT size="3"><B>Nortel Networks Corporation</B></FONT><BR>
<FONT size="2"><B>(Exact Name of Registrant as Specified in Its Charter)</B>
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        <TD align="center" valign="top"><FONT size="2"><B>CANADA</B></FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
<B>3351</B>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2"><B>NOT APPLICABLE</B></FONT></TD>
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        <TD align="center" valign="top">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD>&nbsp;</FONT></TD>
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        <TD align="center" valign="top"><FONT size="2"><B>(State or Other Jurisdiction of<BR>
Incorporation or Organization)</B></FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
<B>(Primary Standard Industrial<BR>
Classification Code Number)</B>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2"><B>(I.R.S. Employer Identification Number)</B></FONT></TD>
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        <TD>&nbsp;</FONT></TD>
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        <TD>&nbsp;</FONT></TD>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
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<B>8200 Dixie Road, Suite&nbsp;100<BR>
Brampton, Ontario, Canada<BR>
L6T 5P6<BR>
(905)&nbsp;863-0000</B></FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
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<P align="center"><FONT size="2"><B>(Address of Registrant&#146;s Principal Executive Offices)</B>
</FONT>
<P align="center"><FONT size="3"><B>Candlestick Networks, Inc.
Amended and Restated 2000 Stock Option Plan</B></FONT>
<BR>
<FONT size="2"><B>(Full Title of the Plan)</B>
</FONT>

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<P align="center"><FONT size="2"><B>CT Corporation System<BR>
111 8th Avenue<BR>
New York, NY 10011<BR>
(212)&nbsp;894-8940</B>
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<P align="center"><FONT size="2"><B>(Name, Address, and Telephone Number, Including Area Code, of Agent for Service)</B>
</FONT>

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<P align="center"><FONT size="2"><B>with copies to:</B>
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        <TD align="center" valign="top"><FONT size="2"><B>Deborah E. Kurtzberg, Esq.<BR>
Cleary, Gottlieb, Steen &#038; Hamilton</B><BR>
One Liberty Plaza<BR>
New York, NY 10006<BR>
(212)&nbsp;225-2466</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
<B>Deborah J. Noble<BR>
Corporate Secretary<BR>
Nortel Networks Corporation</B><BR>
8200 Dixie Rd., Suite&nbsp;100<BR>
Brampton, Ontario, Canada L6T 5P6</FONT></TD>
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<P align="center"><FONT size="2"><B>CALCULATION OF REGISTRATION FEE</B>
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        <TD width="2%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="2%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="8%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="8%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="6%">&nbsp;</TD>
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        <TD nowrap align="center" colspan="17"><HR size="1" noshade></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
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        <TD nowrap align="center"><FONT size="1"><B>Title of Securities</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Amount to Be</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Proposed Maximum Offering</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Proposed Maximum</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Amount of Registration</B></FONT></TD>
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<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1"><B>to be registered (2)</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Registered (1)</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Price Per Share</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Aggregate Offering
Price</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center" colspan="3"><FONT size="1"><B>Fee (3)</B></FONT></TD>
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        <TD><DIV style="margin-left:10px; text-indent:-10px"><FONT size="2">Nortel Networks
Corporation
Common Shares</FONT></DIV></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">310,000</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">7.77</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">2,408,700</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right"><FONT size="2">$</FONT></TD>
        <TD align="right"><FONT size="2">602.18</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
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      <TD width="1%" align="left" nowrap><FONT size="2">(1)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Consists of common shares of Nortel Networks Corporation to be
issued or delivered pursuant to the assumed stock options granted
under the Candlestick Networks, Inc. Amended and Restated 2000 Stock
Option Plan. Pursuant to Rule&nbsp;416(a), this Registration Statement
also covers additional securities that may be offered as a result of
stock splits, stock dividends or similar events.</FONT></TD>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
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      <TD width="1%" align="left" nowrap><FONT size="2">(2)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Includes the rights (the &#147;Rights&#148;) attached to each Share pursuant
to the Shareholders Rights Plan Agreement dated as of March&nbsp;13, 2000.
Until the occurrence of certain prescribed events, the Rights are
not exercisable, are evidenced by the certificates representing the
Shares and may be transferred only together with the Shares.</FONT></TD>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
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      <TD width="1%" align="left" nowrap><FONT size="2">(3)</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="96%"><FONT size="2">Estimated solely for the purpose of determining the amount of the
registration fee in accordance with Rule&nbsp;457(h) under the Securities
Act of 1933, as amended (the &#147;Securities Act&#148;) and based upon the
average of the high and low prices of the common shares of the
Registrant as reported on the New York Stock Exchange on November&nbsp;15,
2001.</FONT></TD>
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<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

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<TR><TD colspan="9"><A HREF="#000">PART I</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">Part II</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="t29233ex4-4.txt">CANDLESTICK NETWORKS - STOCK OPTION PLAN</A></TD></TR>
<TR><TD colspan="9"><A HREF="t29233ex4-5.txt">AMENDED AND RESTATED EXCHANGE AGREEMENT</A></TD></TR>
<TR><TD colspan="9"><A HREF="t29233ex5-1.txt">OPINION OF NICHOLAS J. DEROMA</A></TD></TR>
<TR><TD colspan="9"><A HREF="t29233ex23-1.txt">CONSENT OF DELOITTE & TOUCHE LLP. TORONTO</A></TD></TR>
<TR><TD colspan="9"><A HREF="t29233ex24-1.txt">POWER OF ATTORNEY</A></TD></TR>
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<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Registration Statement on Form&nbsp;S-8 is filed by Nortel Networks
Corporation, a Canadian corporation (the &#147;Corporation&#148; or &#147;Registrant&#148;),
relating to 310,000 of the Corporation&#146;s common shares (the &#147;Shares&#148;), issuable
or reorganization deliverable to current and former employees or directors of
Candlestick Networks, Inc., an indirect wholly owned subsidiary of the
Corporation, pursuant to options or rights granted under the Candlestick
Networks, Inc. Amended and Restated 2000 Stock Option Plan, which has been
assumed by the Corporation pursuant to the Amended and Restated Exchange
Agreement and Plan of Reorganization, dated as of May&nbsp;11, 2001, by and among the
Corporation, Alteon WebSystems, Inc. and Candlestick Networks, Inc.
</FONT>
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<DIV align="left"><A NAME="000"></A></DIV>
<P align="center"><FONT size="2"><B>PART I</B>
</FONT>

<P align="center"><FONT size="2"><B>INFORMATION REQUIRED IN SECTION 10(a) PROSPECTUS</B>
</FONT>

<P align="left"><FONT size="2"><B>Item&nbsp;1. Plan Information.</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not filed as part of this Registration Statement pursuant to Note to Part 1 of Form&nbsp;S-8.
</FONT>
<P align="left"><FONT size="2"><B>Item&nbsp;2. Registrant Information and Employee Plan Annual Information.</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not filed as part of this Registration Statement pursuant to Note to Part 1 of Form&nbsp;S-8.
</FONT>

<P align="center"><FONT size="2">2</FONT>



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<DIV align="left"><A NAME="001"></A></DIV>
<P align="center"><FONT size="2"><B>Part II</B>
</FONT>

<P align="center"><FONT size="2"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>
</FONT>

<P align="left"><FONT size="2"><B>Item&nbsp;3. Incorporation of Documents by Reference.</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents, which previously have been filed by Nortel
Networks Corporation (the &#147;Corporation&#148; or &#147;Registrant&#148;) with the Securities
and Exchange Commission (the &#147;Commission&#148;), are incorporated herein by
reference and made a part hereof:
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp; The Corporation&#146;s Annual Report on Form&nbsp;10-K for the fiscal year ended
December&nbsp;31, 2000, filed with the Commission on March&nbsp;13, 2001;
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp; The Corporation&#146;s Quarterly Reports on Form&nbsp;10-Q for the period
ending March&nbsp;31, 2001, filed with the Commission on May&nbsp;15, 2001, for the
period ending June&nbsp;30, 2001, filed with the Commission on August&nbsp;8, 2001, and
for the period ending September&nbsp;30, 2001, filed with the Commission on November
6, 2001;
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp; The Corporation&#146;s Current Reports on Form&nbsp;8-K, filed with the
Commission and dated January&nbsp;22, 2001, January&nbsp;29, 2001, February&nbsp;2, 2001,
February&nbsp;7, 2001, February&nbsp;16, 2001, March&nbsp;14, 2001, March&nbsp;23, 2001 , March&nbsp;28,
2001, April&nbsp;10, 2001, April&nbsp;24, 2001, May&nbsp;14, 200, June&nbsp;15, 2001, July&nbsp;23,
2001, August&nbsp;8, 2001, August&nbsp;10, 2001, August&nbsp;14, 2001, October&nbsp;4, 2001,
October&nbsp;22, 2001 and November&nbsp;6, 2001;
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp; The description of the common shares contained in the Corporation&#146;s
registration statement on Form&nbsp;8-A dated April&nbsp;28, 2000, as amended by Form
8-A/A dated May&nbsp;1, 2000; and
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp; All other reports filed pursuant to Section&nbsp;13(a) or 15(d) of the
Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), since the end of the
fiscal year covered by the registration document referred to in (i)&nbsp;above.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All reports and other documents filed by the Corporation pursuant to
Sections&nbsp;13(a), 13(c), 14 or 15(d) of the Exchange Act subsequent to the date
of this Registration Statement and prior to the filing of a post-effective
amendment hereto, which indicates that all securities offered hereunder have
been sold or which deregisters all securities remaining unsold, shall be deemed
to be incorporated by reference in this Registration Statement and to be a part
hereof from the date of filing of such documents.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For purposes of this Registration Statement, any document or any statement
contained in a document incorporated or deemed to be incorporated herein by
reference shall be deemed to be modified or superseded to the extent that a
subsequently filed document or a statement contained herein or in any other
subsequently filed document which also is or is deemed to be incorporated
herein by reference modifies or supersedes such document or such statement in
such document. Any statement so modified or superseded shall not be deemed,
except as so modified or superseded, to constitute a part of this Registration
Statement.
</FONT>
<P align="left"><FONT size="2"><B>Item&nbsp;4. Description of Securities.</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</FONT>
<P align="left"><FONT size="2"><B>Item&nbsp;5. Interests of Named Experts and Counsel.</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</FONT>
<P align="center"><FONT size="2">3</FONT>
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<P align="left"><FONT size="2"><B>Item&nbsp;6. Indemnification of Directors and Officers.</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The <I>Canada Business Corporations Act </I>(the &#147;Act&#148;) provides generally that a
corporation may indemnify a director or officer against all costs, charges and
expenses of any civil, criminal or administrative action or proceeding to which
he or she is made a party by reason of being a director or officer, where the
director or officer acted honestly and in good faith with a view to the best
interests of the corporation and, in the case of a criminal or administrative
action or proceeding enforced by a monetary penalty, the director or officer
had reasonable grounds for believing that his or her conduct was lawful. Where
an officer or director was substantially successful on the merits in his or her
defense of such an action or proceeding, such officer or director is entitled
to indemnification from the corporation for such costs, charges and expenses
which were reasonably incurred.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By-law No.&nbsp;1 of the Registrant, approved by the Board of Directors on
February&nbsp;22, 2001 and confirmed by the shareholders of the Registrant on April
26, 2001, implements the indemnification provisions of the Act and reads, in
part, as follows:
</FONT>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2"><B>&#147;SECTION 9.2 INDEMNITY</B></FONT></TD>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">Subject to the limitations contained in the Act, the corporation shall
indemnify a director or officer, a former director or officer, or a
person who acts or acted at the corporation&#146;s request as a director or
officer of a body corporate of which the corporation is or was a
shareholder or creditor, or a person who undertakes or has undertaken any
liability on behalf of the corporation or any such body corporate, and
his or her heirs and legal representatives, against all costs, charges
and expenses, including an amount paid to settle an action or satisfy a
judgment, reasonably incurred by that person in respect of any civil,
criminal or administrative action or proceeding to which such person is
made a party by reason of being or having been a director of officer of
the corporation or such body corporate, if:</FONT></TD>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">(a)&nbsp;such person acted honestly and in good faith with a view to the
best interests of the corporation; and</FONT></TD>
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<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">(b)&nbsp;in the case of a criminal or administrative action or proceeding
that is enforced by a monetary penalty, such person had reasonable
grounds for believing that his or her conduct was lawful.</FONT></TD>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">The corporation shall indemnify any person referred to above who fulfills
the conditions contained in (a)&nbsp;and (b)&nbsp;above and who has been
substantially successful on the merits in the defense of any civil,
criminal or administrative action or proceeding to which such person is
made a party by reason of his or her being or having been a director or
officer of the corporation or body corporate, against all costs, charges
and expenses reasonably incurred by such person in connection with the
defense of such action or proceeding.</FONT></TD>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">The corporation may also indemnify such persons in such other
circumstances as the Act or other applicable law permits or requires.
Nothing in this by-law shall limit the right of any person entitled to
indemnity to claim indemnity apart from the provisions of this by-law.
The Corporation is hereby authorized to execute agreements evidencing its
indemnity in favour of the foregoing persons to the full extent permitted
by law.</FONT></TD>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2"><B>SECTION 9.3 INSURANCE</B></FONT></TD>
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        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">To the extent permitted by the Act and other applicable law, the
corporation may purchase and maintain insurance for the benefit of any
person referred to in Section&nbsp;9.2 against such liability as the board of
directors may determine.&#148;</FONT></TD>
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</TABLE>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Act also provides specifically for the purchase of insurance by a
corporation for the benefit of its directors and officers against liability
incurred as such. Our directors and officers are covered by a group liability
insurance policy.
</FONT>
<P align="center"><FONT size="2">4</FONT>
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<P align="left"><FONT size="2"><B>Item&nbsp;7. Exemption From Registration Claimed.</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</FONT>
<P align="left"><FONT size="2"><B>Item&nbsp;8. Exhibits.</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following exhibits are filed with or incorporated by reference into
this Registration Statement (numbering corresponds to Exhibit&nbsp;Table in Item&nbsp;601
of Regulation&nbsp;S-K):
</FONT>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">4.1</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">Restated Certificate and Articles of Incorporation of Nortel
Networks Corporation dated October&nbsp;1, 2000 (incorporated by
reference to Exhibit&nbsp;3 to the Registrant&#146;s Current Report on Form
8-K dated October&nbsp;18, 2000)</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">4.2</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">By-law No.&nbsp;1 of Nortel Networks Corporation dated February
22, 2001 (incorporated by reference to Exhibit&nbsp;3.2 to the
Registrant&#146;s Annual Report on Form&nbsp;10-K dated March&nbsp;13, 2001)</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2">4.3</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2">Shareholder Rights Plan Agreement, dated as of March&nbsp;13,
2000, between the Corporation and Montreal Trust Company of Canada,
which includes the Form of Rights Certificate as Exhibit&nbsp;A thereto
(incorporated by reference to Exhibit&nbsp;3 to the Registrant&#146;s
Registration Statement on Form&nbsp;8-A filed on April&nbsp;28, 2000, as
amended by the Registration Statement on Form&nbsp;8-A/A filed on May&nbsp;1,
2000)</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="3%" align="left" nowrap><FONT size="2">4.4</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="91%"><FONT size="2">Candlestick Networks, Inc. Amended and Restated 2000 Stock
Option Plan</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="3%" align="left" nowrap><FONT size="2">4.5</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="91%"><FONT size="2">Amended and Restated Exchange Agreement and Plan of
Reorganization, dated as of May&nbsp;11, 2001, among the Corporation,
Alteon WebSystems, Inc. and Candlestick Networks, Inc.</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="3%" align="left" nowrap><FONT size="2">5.1</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="91%"><FONT size="2">Opinion of Nicholas J. DeRoma, Chief Legal Officer of Nortel
Networks Corporation, as to the legality of the issuance of the
common shares offered hereby</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="3%" align="left" nowrap><FONT size="2">23.1</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="91%"><FONT size="2">Consent of Deloitte &#038; Touche LLP, Toronto</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="3%" align="left" nowrap><FONT size="2">23.2</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="91%"><FONT size="2">Consent of Nicholas J. DeRoma (included in Exhibit&nbsp;5.1)</FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="3%" align="left" nowrap><FONT size="2">24.1</FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="91%"><FONT size="2">Power of Attorney</FONT></TD>
</TR>
</TABLE>
<P align="left"><FONT size="2"><B>Item&nbsp;9. Undertakings.</B>
</FONT>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">(a)&nbsp;The undersigned Registrant hereby undertakes:</FONT></TD>
</TR>

</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="6%"></TD>
        <TD width="94%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">(1)&nbsp;To file, during any period in which offers or sales are being
made, a post-effective amendment to this Registration Statement:</FONT></TD>
</TR>

</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="10%"></TD>
        <TD width="90%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">(i)&nbsp;To include any prospectus required by Section&nbsp;10(a)(3) of
the Securities Act;</FONT></TD>
</TR>

</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="10%"></TD>
        <TD width="90%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">(ii)&nbsp;To reflect in the prospectus any facts or events arising
after the effective date of the Registration Statement (or
the most recent post-effective amendment thereof) which,
individually or in the aggregate, represent a fundamental
change in the information set forth in the Registration
Statement;</FONT></TD>
</TR>

</TABLE>
<P align="center"><FONT size="2">5</FONT>
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<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="10%"></TD>
        <TD width="90%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">(iii)&nbsp;To include any material information with respect to the
plan of distribution not previously disclosed in the
Registration Statement or any material change to such
information in the Registration Statement;</FONT></TD>
</TR>

</TABLE>
<P><FONT size="2">provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the
information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed with or furnished to the
Commission by the Registrant pursuant to Section&nbsp;13 or 15(d) of the Exchange
Act that are incorporated by reference in the Registration Statement.
</FONT>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="6%"></TD>
        <TD width="94%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">(2)&nbsp;That, for the purpose of determining any liability under the
Securities Act, each such post-effective amendment shall be deemed
to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time
shall be deemed to be the initial <I>bona fide </I>offering thereof.</FONT></TD>
</TR>

</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="6%"></TD>
        <TD width="94%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">(3)&nbsp;To remove from registration by means of a post-effective
amendment any of the securities being registered which remain
unsold at the termination of the offering.</FONT></TD>
</TR>

</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">(b)&nbsp;The undersigned Registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act, each filing of the
Registrant&#146;s annual report pursuant to Section&nbsp;13(a) or 15(d) of the
Exchange Act (and, where applicable, each filing of the employee benefit
plan&#146;s annual report pursuant to Section&nbsp;15(d) of the Exchange Act) that
is incorporated by reference in the Registration Statement shall be
deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time shall
be deemed to be the initial <I>bona fide </I>offering thereof.</FONT></TD>
</TR>

</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">(h)&nbsp;Insofar as indemnification for liabilities arising under the
Securities Act may be permitted to directors, officers and controlling
persons of the Registrant pursuant to the foregoing provisions, or
otherwise, the Registrant has been advised that in the opinion of the
Commission such indemnification is against public policy as expressed in
the Securities Act and is, therefore, unenforceable. In the event that a
claim for indemnification against such liabilities (other than the
payment by the Registrant of expenses incurred or paid by a director,
officer or controlling person of the Registrant in the successful defense
of any action, suit or proceeding) is asserted by such director, officer
or controlling person in connection with the securities being registered,
the Registrant will, unless in the opinion of its counsel the matter has
been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against
public policy as expressed in the Securities Act and will be governed by
the final adjudication of such issue.</FONT></TD>
</TR>

</TABLE>
<P align="center"><FONT size="2">6</FONT>
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<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="002"></A></DIV>
<P align="center"><FONT size="2"><B>SIGNATURES</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form&nbsp;S-8 and has duly caused this Form&nbsp;S-8
Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Brampton, Province of Ontario, Canada on the
21st day of November, 2001.
</FONT>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD>&nbsp;</TD>
      <TD valign="top"><FONT size="2">NORTEL NETWORKS CORPORATION</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
        <TD>&nbsp;</TD>
        <TD valign="top"><FONT size="2">By                  /s/ Frank A. Dunn<BR>
</FONT><HR size="1" noshade width="90%"><FONT size="2">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(FRANK A. DUNN, President and<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Executive Officer)</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this Form&nbsp;S-8
Registration Statement has been signed below by the following persons in the
capacities indicated on the 21st day of November, 2001.
</FONT>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="50%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="45%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center" colspan="3"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1"><B>Signature</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1"><B>Title</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center" colspan="3"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2"><B>Principal Executive Officer</B></FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>
<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">/s/ Frank A. Dunn<BR>
<HR size="1" noshade>
(FRANK A. DUNN)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
President and Chief Executive Officer,<BR>
and a Director</FONT></TD>
</TR>


<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>


<TR><TD><TR><TD><TR><TD><TR><TD>
<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2"><B>Principal Financial Officer</B></FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>


<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>


<TR>
        <TD align="center" valign="top"><FONT size="2">/s/ Terry G. Hungle<BR>
<HR size="1" noshade>
(TERRY G. HUNGLE)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
Chief Financial Officer</FONT></TD>
</TR>

<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2"><B>Principal Accounting Officer</B></FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
        <TD align="center" valign="top"><FONT size="2">/s/ Douglas C. Beatty<BR>
<HR size="1" noshade>
(DOUGLAS C. BEATTY)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
Controller</FONT></TD>
</TR>

<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2"><B>Authorized Representative in the United States:</B></FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
        <TD align="left" valign="top"><FONT size="2">NORTEL NETWORKS INC.<BR>
&nbsp;<BR>
/s/ Lynn Egan<BR>
<HR size="1" noshade>
Name: Lynn Egan<BR>
Title: &nbsp;Assistant Secretary</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
</TABLE>
</CENTER>

<P align="center"><FONT size="2">7</FONT>
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<P align="center"><FONT size="2"><B>Directors:</B>
</FONT>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="52%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="43%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">J.J. BLANCHARD*</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
R.A. INGRAM*</FONT></TD>
</TR>
<TR>
        <TD align="center" valign="top"><HR size="1" noshade></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
<HR size="1" noshade></FONT></TD>
</TR>
<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">(J.J. BLANCHARD)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
(R.A. INGRAM)</FONT></TD>
</TR>
<TR><TD><TR><TD><TR><TD><TR><TD>

<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">R.E. BROWN*</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
JOHN A. ROTH*</FONT></TD>
</TR>
<TR>
        <TD align="center" valign="top"><HR size="1" noshade></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
<HR size="1" noshade></FONT></TD>
</TR>
<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">(R.E. BROWN)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
(J.A. ROTH)</FONT></TD>
</TR>

<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>


<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
        <TD align="center" valign="top"><HR size="1" noshade></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
<HR size="1" noshade></FONT></TD>
</TR>
<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">(JOHN E. CLEGHORN)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
(G. SAUCIER)</FONT></TD>
</TR>

<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>
<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">FRANK A. DUNN*</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
S.H. SMITH, JR.*</FONT></TD>
</TR>
<TR>
        <TD align="center" valign="top"><HR size="1" noshade></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
<HR size="1" noshade></FONT></TD>
</TR>
<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">(F.A. DUNN)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
(S.H. SMITH, JR.)</FONT></TD>
</TR>

<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><TR><TD><TR><TD><TR><TD>
<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">L.Y. FORTIER*</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
L.R. WILSON*</FONT></TD>
</TR>
<TR>
        <TD align="center" valign="top"><HR size="1" noshade></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
<HR size="1" noshade></FONT></TD>
</TR>
<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">(L.Y. FORTIER)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
(L.R. WILSON)</FONT></TD>
</TR>

<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
</TABLE>
</CENTER>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="50%">&nbsp;</TD>
        <TD width="50%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD>&nbsp;</TD>
        <TD valign="top"><FONT size="2">By*                    /s/ Deborah J. Noble<BR>
</FONT><HR size="1" noshade width="90%"><FONT size="2">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(DEBORAH J. NOBLE,<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;as Attorney-in-fact)</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P><FONT size="2">November&nbsp;21, 2001
</FONT>
<P align="center"><FONT size="2">8</FONT>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="003"></A></DIV>
<P align="center"><FONT size="2"><B>EXHIBIT INDEX</B>
</FONT>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="4%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="43%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="43%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center" colspan="5"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center"><FONT size="1"><B>Exhibit<BR>No.</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1"><B>Description</B></FONT></TD>
        <TD><FONT size="1">&nbsp;</FONT></TD>
        <TD nowrap align="center"><FONT size="1"><B>Method of Filing</B></FONT></TD>
</TR>
<TR valign="bottom">
        <TD nowrap align="center" colspan="5"><HR size="1" noshade></TD>
</TR>



<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Restated Certificate and
Articles of Incorporation
of Nortel Networks
Corporation dated October
1, 2000
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Incorporated by reference
to Exhibit&nbsp;3 to the
Registrant&#146;s Current Report
on Form&nbsp;8-K dated October
19, 2000</FONT></TD>
</TR>

<TR><TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.2</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
By-law No.&nbsp;1 of Nortel
Networks Corporation dated
February&nbsp;22, 2001
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Incorporated by reference
to Exhibit&nbsp;3.2 to
Registrant&#146;s Annual Report
on Form&nbsp;10-K dated March
13, 2001</FONT></TD>
</TR>

<TR><TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.3</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Shareholder Rights Plan
Agreement, dated as of
March&nbsp;13, 2000, between the
Corporation and Montreal
Trust Company of Canada,
which includes the Form of
Rights Certificate as
Exhibit&nbsp;A thereto
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Incorporated by reference
to Exhibit&nbsp;3 to the
Registrant&#146;s Registration
Statement on Form&nbsp;8-A filed
on April&nbsp;28, 2000, as
amended by the Registration
Statement on Form&nbsp;8-A/A
filed on May&nbsp;1, 2000</FONT></TD>
</TR>

<TR><TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.4</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Candlestick Networks, Inc.
Amended and Restated 2000
Stock Option Plan
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Filed herewith</FONT></TD>
</TR>

<TR><TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.5</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Amended and Restated
Exchange Agreement and Plan
of Reorganization, dated as
of May&nbsp;11, 2001, among the
Corporation, Alteon
WebSystems, Inc. and
Candlestick Networks, Inc.
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Filed herewith</FONT></TD>
</TR>

<TR><TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">5.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Opinion of Nicholas J.
DeRoma, Chief Legal Officer
of Nortel Networks
Corporation, as to the
legality of the issuance of
the common shares offered
hereby
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Filed herewith</FONT></TD>
</TR>

<TR><TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">23.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Consent of Deloitte &#38;
Touche LLP, Toronto
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Filed herewith</FONT></TD>
</TR>

<TR><TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">23.2</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Consent of Nicholas J.
DeRoma (included in Exhibit
5.1)</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>


<TR><TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">24.1</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
Power of Attorney
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Filed herewith</FONT></TD>
</TR>
</TABLE>
</CENTER>

<P align="center"><FONT size="2">&nbsp;</FONT>



</BODY>
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Nortel Networks Corporation
Table of Contents
As filed with the Securities and Exchange Commission on November 21, 2001
Registration No. 333-
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
Nortel Networks Corporation
(Exact Name of Registrant as Specified in Its Charter)
CANADA
3351
NOT APPLICABLE
(State or Other Jurisdiction of
Incorporation or Organization)
(Primary Standard Industrial
Classification Code Number)
(I.R.S. Employer Identification Number)
8200 Dixie Road, Suite 100
Brampton, Ontario, Canada
L6T 5P6
(905) 863-0000
(Address of Registrant's Principal Executive Offices)
Candlestick Networks, Inc.
Amended and Restated 2000 Stock Option Plan
(Full Title of the Plan)
CT Corporation System
111 8th Avenue
New York, NY 10011
(212) 894-8940
(Name, Address, and Telephone Number, Including Area Code, of Agent for Service)
with copies to:
Deborah E. Kurtzberg, Esq.
Cleary, Gottlieb, Steen & Hamilton
One Liberty Plaza
New York, NY 10006
(212) 225-2466
Deborah J. Noble
Corporate Secretary
Nortel Networks Corporation
8200 Dixie Rd., Suite 100
Brampton, Ontario, Canada L6T 5P6
CALCULATION OF REGISTRATION FEE
Title of Securities
Amount to Be
Proposed Maximum Offering
Proposed Maximum
Amount of Registration
to be registered (2)
Registered (1)
Price Per Share
Aggregate Offering
Price
Fee (3)
Nortel Networks
Corporation
Common Shares
310,000
7.77
2,408,700
$
602.18
(1)
Consists of common shares of Nortel Networks Corporation to be
issued or delivered pursuant to the assumed stock options granted
under the Candlestick Networks, Inc. Amended and Restated 2000 Stock
Option Plan. Pursuant to Rule 416(a), this Registration Statement
also covers additional securities that may be offered as a result of
stock splits, stock dividends or similar events.
(2)
Includes the rights (the "Rights") attached to each Share pursuant
to the Shareholders Rights Plan Agreement dated as of March 13, 2000.
Until the occurrence of certain prescribed events, the Rights are
not exercisable, are evidenced by the certificates representing the
Shares and may be transferred only together with the Shares.
(3)
Estimated solely for the purpose of determining the amount of the
registration fee in accordance with Rule 457(h) under the Securities
Act of 1933, as amended (the "Securities Act") and based upon the
average of the high and low prices of the common shares of the
Registrant as reported on the New York Stock Exchange on November 15,
2001.
TABLE OF CONTENTS
PART I
Part II
SIGNATURES
EXHIBIT INDEX
CANDLESTICK NETWORKS - STOCK OPTION PLAN
AMENDED AND RESTATED EXCHANGE AGREEMENT
OPINION OF NICHOLAS J. DEROMA
CONSENT OF DELOITTE & TOUCHE LLP. TORONTO
POWER OF ATTORNEY
Table of Contents
This Registration Statement on Form S-8 is filed by Nortel Networks
Corporation, a Canadian corporation (the "Corporation" or "Registrant"),
relating to 310,000 of the Corporation's common shares (the "Shares"), issuable
or reorganization deliverable to current and former employees or directors of
Candlestick Networks, Inc., an indirect wholly owned subsidiary of the
Corporation, pursuant to options or rights granted under the Candlestick
Networks, Inc. Amended and Restated 2000 Stock Option Plan, which has been
assumed by the Corporation pursuant to the Amended and Restated Exchange
Agreement and Plan of Reorganization, dated as of May 11, 2001, by and among the
Corporation, Alteon WebSystems, Inc. and Candlestick Networks, Inc.
PART I
INFORMATION REQUIRED IN SECTION 10(a) PROSPECTUS
Item 1. Plan Information.
Not filed as part of this Registration Statement pursuant to Note to Part 1 of Form S-8.
Item 2. Registrant Information and Employee Plan Annual Information.
Not filed as part of this Registration Statement pursuant to Note to Part 1 of Form S-8.
2
Table of Contents
Part II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents, which previously have been filed by Nortel
Networks Corporation (the "Corporation" or "Registrant") with the Securities
and Exchange Commission (the "Commission"), are incorporated herein by
reference and made a part hereof:
(i)  The Corporation's Annual Report on Form 10-K for the fiscal year ended
December 31, 2000, filed with the Commission on March 13, 2001;
(ii)  The Corporation's Quarterly Reports on Form 10-Q for the period
ending March 31, 2001, filed with the Commission on May 15, 2001, for the
period ending June 30, 2001, filed with the Commission on August 8, 2001, and
for the period ending September 30, 2001, filed with the Commission on November
6, 2001;
(iii)  The Corporation's Current Reports on Form 8-K, filed with the
Commission and dated January 22, 2001, January 29, 2001, February 2, 2001,
February 7, 2001, February 16, 2001, March 14, 2001, March 23, 2001 , March 28,
2001, April 10, 2001, April 24, 2001, May 14, 200, June 15, 2001, July 23,
2001, August 8, 2001, August 10, 2001, August 14, 2001, October 4, 2001,
October 22, 2001 and November 6, 2001;
(iv)  The description of the common shares contained in the Corporation's
registration statement on Form 8-A dated April 28, 2000, as amended by Form
8-A/A dated May 1, 2000; and
(v)  All other reports filed pursuant to Section 13(a) or 15(d) of the
Exchange Act of 1934, as amended (the "Exchange Act"), since the end of the
fiscal year covered by the registration document referred to in (i) above.
All reports and other documents filed by the Corporation pursuant to
Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act subsequent to the date
of this Registration Statement and prior to the filing of a post-effective
amendment hereto, which indicates that all securities offered hereunder have
been sold or which deregisters all securities remaining unsold, shall be deemed
to be incorporated by reference in this Registration Statement and to be a part
hereof from the date of filing of such documents.
For purposes of this Registration Statement, any document or any statement
contained in a document incorporated or deemed to be incorporated herein by
reference shall be deemed to be modified or superseded to the extent that a
subsequently filed document or a statement contained herein or in any other
subsequently filed document which also is or is deemed to be incorporated
herein by reference modifies or supersedes such document or such statement in
such document. Any statement so modified or superseded shall not be deemed,
except as so modified or superseded, to constitute a part of this Registration
Statement.
Item 4. Description of Securities.
Not applicable.
Item 5. Interests of Named Experts and Counsel.
Not applicable.
3
Table of Contents
Item 6. Indemnification of Directors and Officers.
The
Canada Business Corporations Act
(the "Act") provides generally that a
corporation may indemnify a director or officer against all costs, charges and
expenses of any civil, criminal or administrative action or proceeding to which
he or she is made a party by reason of being a director or officer, where the
director or officer acted honestly and in good faith with a view to the best
interests of the corporation and, in the case of a criminal or administrative
action or proceeding enforced by a monetary penalty, the director or officer
had reasonable grounds for believing that his or her conduct was lawful. Where
an officer or director was substantially successful on the merits in his or her
defense of such an action or proceeding, such officer or director is entitled
to indemnification from the corporation for such costs, charges and expenses
which were reasonably incurred.
By-law No. 1 of the Registrant, approved by the Board of Directors on
February 22, 2001 and confirmed by the shareholders of the Registrant on April
26, 2001, implements the indemnification provisions of the Act and reads, in
part, as follows:
"SECTION 9.2 INDEMNITY
Subject to the limitations contained in the Act, the corporation shall
indemnify a director or officer, a former director or officer, or a
person who acts or acted at the corporation's request as a director or
officer of a body corporate of which the corporation is or was a
shareholder or creditor, or a person who undertakes or has undertaken any
liability on behalf of the corporation or any such body corporate, and
his or her heirs and legal representatives, against all costs, charges
and expenses, including an amount paid to settle an action or satisfy a
judgment, reasonably incurred by that person in respect of any civil,
criminal or administrative action or proceeding to which such person is
made a party by reason of being or having been a director of officer of
the corporation or such body corporate, if:
(a) such person acted honestly and in good faith with a view to the
best interests of the corporation; and
(b) in the case of a criminal or administrative action or proceeding
that is enforced by a monetary penalty, such person had reasonable
grounds for believing that his or her conduct was lawful.
The corporation shall indemnify any person referred to above who fulfills
the conditions contained in (a) and (b) above and who has been
substantially successful on the merits in the defense of any civil,
criminal or administrative action or proceeding to which such person is
made a party by reason of his or her being or having been a director or
officer of the corporation or body corporate, against all costs, charges
and expenses reasonably incurred by such person in connection with the
defense of such action or proceeding.
The corporation may also indemnify such persons in such other
circumstances as the Act or other applicable law permits or requires.
Nothing in this by-law shall limit the right of any person entitled to
indemnity to claim indemnity apart from the provisions of this by-law.
The Corporation is hereby authorized to execute agreements evidencing its
indemnity in favour of the foregoing persons to the full extent permitted
by law.
SECTION 9.3 INSURANCE
To the extent permitted by the Act and other applicable law, the
corporation may purchase and maintain insurance for the benefit of any
person referred to in Section 9.2 against such liability as the board of
directors may determine."
The Act also provides specifically for the purchase of insurance by a
corporation for the benefit of its directors and officers against liability
incurred as such. Our directors and officers are covered by a group liability
insurance policy.
4
Table of Contents
Item 7. Exemption From Registration Claimed.
Not applicable.
Item 8. Exhibits.
The following exhibits are filed with or incorporated by reference into
this Registration Statement (numbering corresponds to Exhibit Table in Item 601
of Regulation S-K):
4.1
Restated Certificate and Articles of Incorporation of Nortel
Networks Corporation dated October 1, 2000 (incorporated by
reference to Exhibit 3 to the Registrant's Current Report on Form
8-K dated October 18, 2000)
4.2
By-law No. 1 of Nortel Networks Corporation dated February
22, 2001 (incorporated by reference to Exhibit 3.2 to the
Registrant's Annual Report on Form 10-K dated March 13, 2001)
4.3
Shareholder Rights Plan Agreement, dated as of March 13,
2000, between the Corporation and Montreal Trust Company of Canada,
which includes the Form of Rights Certificate as Exhibit A thereto
(incorporated by reference to Exhibit 3 to the Registrant's
Registration Statement on Form 8-A filed on April 28, 2000, as
amended by the Registration Statement on Form 8-A/A filed on May 1,
2000)
4.4
Candlestick Networks, Inc. Amended and Restated 2000 Stock
Option Plan
4.5
Amended and Restated Exchange Agreement and Plan of
Reorganization, dated as of May 11, 2001, among the Corporation,
Alteon WebSystems, Inc. and Candlestick Networks, Inc.
5.1
Opinion of Nicholas J. DeRoma, Chief Legal Officer of Nortel
Networks Corporation, as to the legality of the issuance of the
common shares offered hereby
23.1
Consent of Deloitte & Touche LLP, Toronto
23.2
Consent of Nicholas J. DeRoma (included in Exhibit 5.1)
24.1
Power of Attorney
Item 9. Undertakings.
(a) The undersigned Registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being
made, a post-effective amendment to this Registration Statement:
(i) To include any prospectus required by Section 10(a)(3) of
the Securities Act;
(ii) To reflect in the prospectus any facts or events arising
after the effective date of the Registration Statement (or
the most recent post-effective amendment thereof) which,
individually or in the aggregate, represent a fundamental
change in the information set forth in the Registration
Statement;
5
Table of Contents
(iii) To include any material information with respect to the
plan of distribution not previously disclosed in the
Registration Statement or any material change to such
information in the Registration Statement;
provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the
information required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed with or furnished to the
Commission by the Registrant pursuant to Section 13 or 15(d) of the Exchange
Act that are incorporated by reference in the Registration Statement.
(2) That, for the purpose of determining any liability under the
Securities Act, each such post-effective amendment shall be deemed
to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time
shall be deemed to be the initial
bona fide
offering thereof.
(3) To remove from registration by means of a post-effective
amendment any of the securities being registered which remain
unsold at the termination of the offering.
(b) The undersigned Registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act, each filing of the
Registrant's annual report pursuant to Section 13(a) or 15(d) of the
Exchange Act (and, where applicable, each filing of the employee benefit
plan's annual report pursuant to Section 15(d) of the Exchange Act) that
is incorporated by reference in the Registration Statement shall be
deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time shall
be deemed to be the initial
bona fide
offering thereof.
(h) Insofar as indemnification for liabilities arising under the
Securities Act may be permitted to directors, officers and controlling
persons of the Registrant pursuant to the foregoing provisions, or
otherwise, the Registrant has been advised that in the opinion of the
Commission such indemnification is against public policy as expressed in
the Securities Act and is, therefore, unenforceable. In the event that a
claim for indemnification against such liabilities (other than the
payment by the Registrant of expenses incurred or paid by a director,
officer or controlling person of the Registrant in the successful defense
of any action, suit or proceeding) is asserted by such director, officer
or controlling person in connection with the securities being registered,
the Registrant will, unless in the opinion of its counsel the matter has
been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against
public policy as expressed in the Securities Act and will be governed by
the final adjudication of such issue.
6
Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this Form S-8
Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Brampton, Province of Ontario, Canada on the
21st day of November, 2001.
NORTEL NETWORKS CORPORATION
By                  /s/ Frank A. Dunn
(FRANK A. DUNN, President and
Chief Executive Officer)
Pursuant to the requirements of the Securities Act of 1933, this Form S-8
Registration Statement has been signed below by the following persons in the
capacities indicated on the 21st day of November, 2001.
Signature
Title
Principal Executive Officer
/s/ Frank A. Dunn
(FRANK A. DUNN)
President and Chief Executive Officer,
and a Director
Principal Financial Officer
/s/ Terry G. Hungle
(TERRY G. HUNGLE)
Chief Financial Officer
Principal Accounting Officer
/s/ Douglas C. Beatty
(DOUGLAS C. BEATTY)
Controller
Authorized Representative in the United States:
NORTEL NETWORKS INC.
/s/ Lynn Egan
Name: Lynn Egan
Title:  Assistant Secretary
7
Table of Contents
Directors:
J.J. BLANCHARD*
R.A. INGRAM*
(J.J. BLANCHARD)
(R.A. INGRAM)
R.E. BROWN*
JOHN A. ROTH*
(R.E. BROWN)
(J.A. ROTH)
(JOHN E. CLEGHORN)
(G. SAUCIER)
FRANK A. DUNN*
S.H. SMITH, JR.*
(F.A. DUNN)
(S.H. SMITH, JR.)
L.Y. FORTIER*
L.R. WILSON*
(L.Y. FORTIER)
(L.R. WILSON)
By*                    /s/ Deborah J. Noble
(DEBORAH J. NOBLE,
as Attorney-in-fact)
November 21, 2001
8
Table of Contents
EXHIBIT INDEX
Exhibit
No.
Description
Method of Filing
4.1
Restated Certificate and
Articles of Incorporation
of Nortel Networks
Corporation dated October
1, 2000
Incorporated by reference
to Exhibit 3 to the
Registrant's Current Report
on Form 8-K dated October
19, 2000
4.2
By-law No. 1 of Nortel
Networks Corporation dated
February 22, 2001
Incorporated by reference
to Exhibit 3.2 to
Registrant's Annual Report
on Form 10-K dated March
13, 2001
4.3
Shareholder Rights Plan
Agreement, dated as of
March 13, 2000, between the
Corporation and Montreal
Trust Company of Canada,
which includes the Form of
Rights Certificate as
Exhibit A thereto
Incorporated by reference
to Exhibit 3 to the
Registrant's Registration
Statement on Form 8-A filed
on April 28, 2000, as
amended by the Registration
Statement on Form 8-A/A
filed on May 1, 2000
4.4
Candlestick Networks, Inc.
Amended and Restated 2000
Stock Option Plan
Filed herewith
4.5
Amended and Restated
Exchange Agreement and Plan
of Reorganization, dated as
of May 11, 2001, among the
Corporation, Alteon
WebSystems, Inc. and
Candlestick Networks, Inc.
Filed herewith
5.1
Opinion of Nicholas J.
DeRoma, Chief Legal Officer
of Nortel Networks
Corporation, as to the
legality of the issuance of
the common shares offered
hereby
Filed herewith
23.1
Consent of Deloitte &
Touche LLP, Toronto
Filed herewith
23.2
Consent of Nicholas J.
DeRoma (included in Exhibit
5.1)
24.1
Power of Attorney
Filed herewith