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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="center"><FONT size="2">As filed with the Securities and Exchange Commission on June&nbsp;30, 2003
</FONT>
<P align="right"><FONT size="2"><B>Registration No.&nbsp;333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>
</FONT>

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<P align="center"><FONT size="4"><B>SECURITIES AND EXCHANGE
COMMISSION</B></FONT><BR>
<FONT size="3"><B>WASHINGTON, D.C. 20549</B>
</FONT>

<P align="center"><FONT size="5"><B>FORM S-8</B>
</FONT>

<P align="center"><FONT size="3"><B>REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933</B>
</FONT>

<P>
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<CENTER>
<P align="center"><FONT size="6"><B>Nortel Networks Corporation</B>
</FONT>
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<FONT size="2"><I>(Exact Name of Registrant as Specified in Its
Charter)</I>
</FONT>
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<P>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="30%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="30%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="30%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <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>
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2"><B>NOT APPLICABLE</B></FONT></TD>
</TR>
<TR>
    <TD valign="top"><HR size="1" noshade></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
<HR size="1" noshade>
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2"><I>(State or Other
Jurisdiction of<BR>
Incorporation or Organization)</I></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">
<I>(Primary Standard Industrial<BR>
Classification Code Number)</I>
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2"><I>(I.R.S. Employer
Identification Number)</I></FONT></TD>
</TR>
</TABLE>
</CENTER>

<CENTER>
<P align="center"><FONT size="2"><B>8200 Dixie Road, Suite&nbsp;100<BR>
Brampton, Ontario, Canada<BR>
L6T 5P6<BR>
(905)&nbsp;863-0000</B>
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<I>(Address of Registrant&#146;s Principal Executive Offices)</I>
</FONT>
</CENTER>

<CENTER>
<P align="center"><FONT size="6"><B>Nortel Networks Long-Term Investment Plan</B>
</FONT>
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<FONT size="2"><I>(Full Title of the Plan)</I>
</FONT>
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<P>
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<CENTER>
<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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<I>(Name, Address, and Telephone Number, Including Area Code, of
Agent for Service)</I>
</FONT>
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<P>
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<P align="center"><FONT size="2"><B>with copies to:</B>
</FONT>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="65%">
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2"><B>Deborah E.
Kurtzberg, Esq.</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">
<B>Deborah J. Noble</B></FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2"><B>Cleary, Gottlieb, Steen &#038; Hamilton</B></FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">
<B>Corporate Secretary</B></FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2">One Liberty Plaza</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">
<B>Nortel Networks Corporation</B></FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2">New York, NY 10006</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">
8200 Dixie Rd., Suite&nbsp;100</FONT></TD>
</TR>

<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2">(212) 225-2466</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">
Brampton, Ontario, Canada L6T 5P6</FONT></TD>
</TR>
</TABLE>
</CENTER>

<P align="center"><FONT size="2"><B>CALCULATION OF REGISTRATION FEE</B>
</FONT>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>

    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>

    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>

    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>

    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD><FONT size="1">&nbsp;</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>Proposed Maximum</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Amount of</B></FONT></TD>
</TR>
<TR valign="bottom">
    <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>Offering Price</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Aggregate Offering</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>Registration</B></FONT></TD>
</TR>
<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>Per Share</B></FONT></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center" colspan="3"><FONT size="1"><B>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>
</TR>
<TR valign="bottom">
    <TD nowrap align="center"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD colspan="3"><HR size="1" noshade></TD>
</TR>
<TR valign="bottom">
    <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="center"><FONT size="2">200,000,000</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="center"><FONT size="2">$2.77</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" colspan="3"><FONT size="2">$554,000,000</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" colspan="3"><FONT size="2">$44,818.60</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>


</TR>
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<P>
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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
    <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 (the
&#147;Shares&#148;) to be made available pursuant to the Nortel Networks
Long-Term Investment Plan (the &#147;Plan&#148;). Pursuant to Rule&nbsp;416(a)
under the Securities Act of 1933, as amended (the &#147;Securities Act&#148;),
this Registration Statement also registers such indeterminable amount
of additional Shares as may be required in the event of a stock
split, stock dividend, recapitalization or other similar adjustments
in the outstanding Shares of Nortel Network Corporation (the
&#147;Registrant&#148;). In addition, pursuant to Rule&nbsp;416(c) of the
Securities Act, this Registration Statement also covers an
indeterminate amount of interests to be offered or sold pursuant to
the Plan.</FONT></TD>
</TR>
<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
    <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 Amended and Restated Shareholder Rights Plan Agreement dated
as of February&nbsp;14, 2003. 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>
</TR>
<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
    <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 and based upon the average of the high and low prices per Share
of the Registrant as reported on the New York Stock Exchange on
June&nbsp;27, 2003.</FONT></TD>
</TR>
</TABLE>
<P>
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<P align="center"><FONT size="2">&nbsp;</FONT>
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<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
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</TR>
<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="t10190exv4w4.htm">Nortel Networks Long-Term Investment Plan</A></TD></TR>
<TR><TD colspan="9"><A HREF="t10190exv23w1.htm">Consent of Deloitte & Touche</A></TD></TR>
<TR><TD colspan="9"><A HREF="t10190exv23w2.htm">Consent of Deloitte Touche Tohmatsu</A></TD></TR>
<TR><TD colspan="9"><A HREF="t10190exv24w1.htm">Power of Attorney</A></TD></TR>
</TABLE>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<!-- link1 "PART I" -->
<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.&nbsp;&nbsp;&nbsp;Plan Information.</B>
</FONT>

<P align="left"><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.&nbsp;&nbsp;&nbsp;Registrant Information and Employee Plan Annual Information.</B>
</FONT>

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

<P align="left"><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 align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;The Corporation&#146;s Annual Report on Form&nbsp;10-K for the fiscal year ended
December&nbsp;31, 2002, filed with the Commission on March&nbsp;10, 2003;
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;The
Corporation&#146;s Quarterly Report on Form&nbsp;10-Q for the period
ended
March&nbsp;31, 2003, filed with the Commission on May&nbsp;9, 2003;
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;The Plan&#146;s Annual Report on Form&nbsp;11-K for the fiscal year ended
December&nbsp;31, 2002, filed with the Commission on June&nbsp;27, 2003;
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)&nbsp;&nbsp;&nbsp;The Corporation&#146;s Current Reports on Forms 8-K, filed with the
Commission January&nbsp;24, 2003, February&nbsp;14, 2003, April&nbsp;24, 2003 and April&nbsp;25,
2003;
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)&nbsp;&nbsp;&nbsp;The description of the Shares and the Rights contained in the
Corporation&#146;s registration statement on Form&nbsp;8-A filed with the Commission on
April&nbsp;28, 2000, as amended by Form&nbsp;8-A/A filed with the Commission on May&nbsp;1,
2000 and Form&nbsp;8-A/A filed with the Commission on April&nbsp;25, 2003; and
</FONT>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)&nbsp;&nbsp;&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 align="left"><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 align="left"><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.&nbsp;&nbsp;&nbsp;Description of Securities.</B>
</FONT>

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

<P align="left"><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.&nbsp;&nbsp;&nbsp;Indemnification of Directors and Officers.</B>
</FONT>

<P align="left"><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, administrative, investigative or other
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 such an officer or director was not judged by the
court or other competent authority to have committed any fault or omitted to do
anything he or she ought to have done, such officer or director is entitled to
indemnification from the corporation for such costs, charges and expenses which
were reasonably incurred by the officer or director in connection with the
defense of any civil, criminal, investigative or other proceeding to which he
or she was subject by reason of being a director or officer.
</FONT>
<P align="left"><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>

<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>&#147;SECTION 9.2</B>&nbsp;&nbsp;&nbsp;<B>INDEMNITY</B></FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
    <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>
</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">(a)&nbsp;&nbsp;&nbsp;such person acted honestly and in good faith with a view to the
best interests of the corporation; and</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">(b)&nbsp;&nbsp;&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>
</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">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>
</TR>

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

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2"><B>SECTION 9.3</B>&nbsp;&nbsp;&nbsp;<B>INSURANCE</B></FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
    <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>
</TR>
</TABLE>

<P align="center"><FONT size="2">4
</FONT>
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<P align="left"><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="left"><FONT size="2"><B>Item&nbsp;7.&nbsp;&nbsp;&nbsp;Exemption From Registration Claimed.</B>
</FONT>

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

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Corporation hereby undertakes to submit the Nortel Networks Long-Term
Investment Plan Effective July&nbsp;1, 1979, as amended and restated effective
August&nbsp;15, 2002 (the &#147;Plan&#148;), and any amendment thereto to the Internal Revenue
Service (the &#147;IRS&#148;) in a timely manner in order to obtain a determination
letter that the Plan is qualified under Section&nbsp;401 of the Internal Revenue
Code of 1986 as amended, and to make any changes in the Plan required by the
IRS in order to obtain such a determination letter.
</FONT>
<P align="left"><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>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="92%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <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&nbsp;1, 2000 (incorporated by
reference to Exhibit&nbsp;3 to the Registrant&#146;s Current Report on Form
8-K filed on October&nbsp;18, 2000).</FONT></TD>
</TR>

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

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

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <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">
Amended and Restated Shareholder Rights Plan Agreement, dated
as of February&nbsp;14, 2003, between the Corporation and Computershare
Trust Company of Canada, as Rights Agent, 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
8-A/A filed on April&nbsp;25, 2003).</FONT></TD>
</TR>

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

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <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">
Nortel Networks Long-Term Investment Plan Effective July&nbsp;1,
1979, as amended and restated effective August&nbsp;15, 2002.</FONT></TD>
</TR>

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

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <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 &#038; Touche LLP.</FONT></TD>
</TR>

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

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <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 Deloitte  Touche Tohmatsu.</FONT></TD>
</TR>

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

<TR valign="bottom">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <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>
</TR>
</TABLE>
</CENTER>

<P align="left"><FONT size="2"><B>Item&nbsp;9.&nbsp;&nbsp;&nbsp;Undertakings.</B>
</FONT>

<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;The undersigned Registrant hereby undertakes:
</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">(1)&nbsp;&nbsp;&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="6%"></TD>
    <TD width="94%"></TD>
</TR>
<TR valign="top">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">(i)&nbsp;&nbsp;&nbsp;To include any prospectus required by Section&nbsp;10(a)(3) of
the Securities Act;</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">(ii)&nbsp;&nbsp;&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,</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="6%"></TD>
    <TD width="94%"></TD>
</TR>
<TR valign="top">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">individually or in the aggregate, represent a fundamental
change in the information set forth in the Registration
Statement; and</FONT></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></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>
<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">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></TD>
</TR>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">(2)&nbsp;&nbsp;&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>

<TR>
    <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">(3)&nbsp;&nbsp;&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 align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&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>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;&nbsp;&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>
<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 align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>The Registrant.</I>&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 30th day of June, 2003.
</FONT>

<P>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="80%">
<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top" colspan="2"><FONT size="2"><B>
NORTEL NETWORKS CORPORATION</B></FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>

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

<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">By</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">/s/ Frank A. Dunn<BR>
</FONT><HR size="1" noshade><FONT size="2">
FRANK A. DUNN<BR>
President and Chief Executive&nbsp;Officer</FONT></TD>
</TR>
</TABLE>
</CENTER>

<P align="left"><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 30th day of June, 2003.
</FONT>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="45%">&nbsp;</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"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><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="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>

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

<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>

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

<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>

<TR><TD><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><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2">/s/ M.J. Gollogly<BR>
</FONT><HR size="1" noshade><FONT size="2">
(M.J. GOLLOGLY)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="bottom"><FONT size="2">
Controller</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>

<TR valign="bottom">
    <TD align="left" 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><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">NORTEL NETWORKS INC.</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">/s/ Lynn C. Egan<BR>
</FONT><HR size="1" noshade><FONT size="2">
Name:  Lynn C. Egan<BR>
Title:   Assistant Secretary</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD 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="45%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2">J.J. BLANCHARD*<BR>
</FONT><HR size="1" noshade><FONT size="2">
(J.J. BLANCHARD)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <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">R.A.  INGRAM*<BR>
</FONT><HR size="1" noshade><FONT size="2">
(R.A. INGRAM)</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
    <TD 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>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2">R.E. BROWN*<BR>
</FONT><HR size="1" noshade><FONT size="2">
(R.E. BROWN)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <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">W.A. OWENS*<BR>
</FONT><HR size="1" noshade><FONT size="2">
(W.A. OWENS)</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
    <TD 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>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2">J.E. CLEGHORN*<BR>
</FONT><HR size="1" noshade><FONT size="2">
(J.E. CLEGHORN)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <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">G. SAUCIER*<BR>
</FONT><HR size="1" noshade><FONT size="2">
(G. SAUCIER)</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
    <TD 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>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2">F.A. DUNN*<BR>
</FONT><HR size="1" noshade><FONT size="2">
(F.A. DUNN)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <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">S.H. SMITH, JR.*<BR>
</FONT><HR size="1" noshade><FONT size="2">
(S.H. SMITH, JR.)</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
    <TD 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>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
    <TD align="center" valign="top"><FONT size="2">L.Y. FORTIER*<BR>
</FONT><HR size="1" noshade><FONT size="2">
(L.Y. FORTIER)</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <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">L.R. WILSON*<BR>
</FONT><HR size="1" noshade><FONT size="2">
(L.R. WILSON)</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">
By*
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="center" valign="top"><FONT size="2">/s/ Gordon A. Davies<BR>
</FONT><HR size="1" noshade><FONT size="2">
(Gordon A. Davies,<BR>
as Attorney-in-fact)</FONT></TD>
</TR>
</TABLE>
</CENTER>

<P align="left"><FONT size="2">June&nbsp;30, 2003
</FONT>

<P align="center"><FONT size="2">8
</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<P align="left"><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>The Plan.</I>&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the
trustees of the Plan (or other persons who administer the Plan) have duly
caused this S-8 Registration Statement to be signed on its behalf by the
undersigned, thereto duly authorized, in the City of Research Triangle Park,
North Carolina, United States of America on the 30th day of June, 2003.
</FONT>

<P>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="80%">
<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top" colspan="2"><FONT size="2"><B>
NORTEL NETWORKS LONG-TERM INVESTMENT&nbsp;PLAN</B></FONT></TD>
</TR>

<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>

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

<TR><TD><FONT size="2">&nbsp;</FONT></TD></TR>
<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD valign="top"><FONT size="2">By:</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">/s/ M.M. Cross<BR>
</FONT><HR size="1" noshade><FONT size="2">
M.M. CROSS<BR>
President<BR>
Nortel Networks Inc.</FONT></TD>
</TR>
</TABLE>
</CENTER>

<P align="center"><FONT size="2">9
</FONT>
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<P><HR noshade><P>
<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="10%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="36%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="36%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="center"><FONT size="1"><B>Exhibit 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>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><FONT size="1"><B>Page</B></FONT></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="center"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><HR size="1" noshade></TD>
    <TD><FONT size="1">&nbsp;</FONT></TD>
    <TD nowrap align="center"><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&nbsp;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 filed on
October&nbsp;18, 2000.
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&#151;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></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&nbsp;13,
2001.
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&#151;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></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">
Amended and Restated Shareholder
Rights Plan Agreement, dated as of
February&nbsp;14, 2003, between the
Corporation and Computershare Trust
Company of Canada, as Rights Agent,
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
8-A/A filed on
April&nbsp;25, 2003.
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&#151;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></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">
Nortel Networks Long-Term Investment
Plan Effective July&nbsp;1, 1979, as
amended and restated effective August
15, 2002.
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Filed herewith.</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></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 &#038; Touche LLP.
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Filed herewith.</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></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 Deloitte Touche Tohmatsu.
</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">Filed herewith.</FONT></TD>
    <TD><FONT size="2">&nbsp;</FONT></TD>
    <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
</TR>

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

<P align="center"><FONT size="2">10
</FONT>
</BODY>
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sv8
Table of Contents
As filed with the Securities and Exchange Commission on June 30, 2003
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)
Nortel Networks Long-Term Investment 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.
Deborah J. Noble
Cleary, Gottlieb, Steen & Hamilton
Corporate Secretary
One Liberty Plaza
Nortel Networks Corporation
New York, NY 10006
8200 Dixie Rd., Suite 100
(212) 225-2466
Brampton, Ontario, Canada L6T 5P6
CALCULATION OF REGISTRATION FEE
Proposed Maximum
Proposed Maximum
Amount of
Title of Securities
Amount to Be
Offering Price
Aggregate Offering
Registration
to be registered (2)
Registered (1)
Per Share
Price
Fee (3)
Nortel Networks
Corporation
Common Shares
200,000,000
$2.77
$554,000,000
$44,818.60
(1)
Consists of common shares of Nortel Networks Corporation (the
"Shares") to be made available pursuant to the Nortel Networks
Long-Term Investment Plan (the "Plan"). Pursuant to Rule 416(a)
under the Securities Act of 1933, as amended (the "Securities Act"),
this Registration Statement also registers such indeterminable amount
of additional Shares as may be required in the event of a stock
split, stock dividend, recapitalization or other similar adjustments
in the outstanding Shares of Nortel Network Corporation (the
"Registrant"). In addition, pursuant to Rule 416(c) of the
Securities Act, this Registration Statement also covers an
indeterminate amount of interests to be offered or sold pursuant to
the Plan.
(2)
Includes the rights (the "Rights") attached to each Share pursuant
to the Amended and Restated Shareholder Rights Plan Agreement dated
as of February 14, 2003. 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 and based upon the average of the high and low prices per Share
of the Registrant as reported on the New York Stock Exchange on
June 27, 2003.
TABLE OF CONTENTS
PART I
PART II
SIGNATURES
EXHIBIT INDEX
Nortel Networks Long-Term Investment Plan
Consent of Deloitte & Touche
Consent of Deloitte Touche Tohmatsu
Power of Attorney
Table of Contents
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, 2002, filed with the Commission on March 10, 2003;
(ii)   The
Corporation's Quarterly Report on Form 10-Q for the period
ended
March 31, 2003, filed with the Commission on May 9, 2003;
(iii)   The Plan's Annual Report on Form 11-K for the fiscal year ended
December 31, 2002, filed with the Commission on June 27, 2003;
(iv)   The Corporation's Current Reports on Forms 8-K, filed with the
Commission January 24, 2003, February 14, 2003, April 24, 2003 and April 25,
2003;
(v)   The description of the Shares and the Rights contained in the
Corporation's registration statement on Form 8-A filed with the Commission on
April 28, 2000, as amended by Form 8-A/A filed with the Commission on May 1,
2000 and Form 8-A/A filed with the Commission on April 25, 2003; and
(vi)   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, administrative, investigative or other
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 such an officer or director was not judged by the
court or other competent authority to have committed any fault or omitted to do
anything he or she ought to have done, such officer or director is entitled to
indemnification from the corporation for such costs, charges and expenses which
were reasonably incurred by the officer or director in connection with the
defense of any civil, criminal, investigative or other proceeding to which he
or she was subject by reason of being a director or officer.
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."
4
Table of Contents
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.
Item 7.   Exemption From Registration Claimed.
Not applicable.
Item 8.   Exhibits.
The Corporation hereby undertakes to submit the Nortel Networks Long-Term
Investment Plan Effective July 1, 1979, as amended and restated effective
August 15, 2002 (the "Plan"), and any amendment thereto to the Internal Revenue
Service (the "IRS") in a timely manner in order to obtain a determination
letter that the Plan is qualified under Section 401 of the Internal Revenue
Code of 1986 as amended, and to make any changes in the Plan required by the
IRS in order to obtain such a determination letter.
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 filed on 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
Amended and Restated Shareholder Rights Plan Agreement, dated
as of February 14, 2003, between the Corporation and Computershare
Trust Company of Canada, as Rights Agent, 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/A filed on April 25, 2003).
4.4
Nortel Networks Long-Term Investment Plan Effective July 1,
1979, as amended and restated effective August 15, 2002.
23.1
Consent of Deloitte & Touche LLP.
23.2
Consent of Deloitte  Touche Tohmatsu.
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,
5
Table of Contents
individually or in the aggregate, represent a fundamental
change in the information set forth in the Registration
Statement; and
(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.
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SIGNATURES
The Registrant.
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 30th day of June, 2003.
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 30th day of June, 2003.
Signature
Title
Principal Executive Officer
/s/ Frank A. Dunn
(FRANK A. DUNN)
President and Chief Executive Officer,
and a Director
Principal Financial Officer
/s/ Douglas C. Beatty
(DOUGLAS C. BEATTY)
Chief Financial Officer
Principal Accounting Officer
/s/ M.J. Gollogly
(M.J. GOLLOGLY)
Controller
Authorized Representative in the United States:
NORTEL NETWORKS INC.
/s/ Lynn C. Egan
Name:  Lynn C. Egan
Title:   Assistant Secretary
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Directors:
J.J. BLANCHARD*
(J.J. BLANCHARD)
R.A.  INGRAM*
(R.A. INGRAM)
R.E. BROWN*
(R.E. BROWN)
W.A. OWENS*
(W.A. OWENS)
J.E. CLEGHORN*
(J.E. CLEGHORN)
G. SAUCIER*
(G. SAUCIER)
F.A. DUNN*
(F.A. DUNN)
S.H. SMITH, JR.*
(S.H. SMITH, JR.)
L.Y. FORTIER*
(L.Y. FORTIER)
L.R. WILSON*
(L.R. WILSON)
By*
/s/ Gordon A. Davies
(Gordon A. Davies,
as Attorney-in-fact)
June 30, 2003
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The Plan.
Pursuant to the requirements of the Securities Act of 1933, the
trustees of the Plan (or other persons who administer the Plan) have duly
caused this S-8 Registration Statement to be signed on its behalf by the
undersigned, thereto duly authorized, in the City of Research Triangle Park,
North Carolina, United States of America on the 30th day of June, 2003.
NORTEL NETWORKS LONG-TERM INVESTMENT PLAN
By:
/s/ M.M. Cross
M.M. CROSS
President
Nortel Networks Inc.
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EXHIBIT INDEX
Exhibit No.
Description
Method of Filing
Page
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 filed on
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
Registrant's Annual
Report on Form 10-K
dated March 13,
2001.
—
4.3
Amended and Restated Shareholder
Rights Plan Agreement, dated as of
February 14, 2003, between the
Corporation and Computershare Trust
Company of Canada, as Rights Agent,
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/A filed on
April 25, 2003.
—
4.4
Nortel Networks Long-Term Investment
Plan Effective July 1, 1979, as
amended and restated effective August
15, 2002.
Filed herewith.
23.1
Consent of Deloitte & Touche LLP.
Filed herewith.
23.2
Consent of Deloitte Touche Tohmatsu.
Filed herewith.
24.1
Power of Attorney.
Filed herewith.
10