Sprint - Nextel 2011 Annual Report Download - page 152

Table of Contents
CLEARWIRE CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
CLEARWIRE CORPORATION
CONDENSED STATEMENTS OF CASH FLOWS
On January 27, 2012, Clearwire Communications received proceeds of $294.8 million, net of debt issuance costs, from an offering of senior secured notes with par
value of $300.0 million, due 2016 and bearing interest at 14.75% , which we refer to as the 2016 Senior Secured Note Tranche. The 2016 Senior Secured Note Tranche
has substantially the same terms as the Senior Secured Notes. See Note 10, Long-term Debt, Net, for further information.
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EXHIBIT 10.43
EMPLOYMENT AGREEMENT
THIS EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into as of September 6, 2011, effective as of
September 26, 2011 (the “Effective Date”), by and between Sprint Nextel Corporation, a Kansas corporation (the “Company”) on behalf of
itself and any of its subsidiaries, affiliates and related entities, and William Malloy (the “Executive”) (the Company and the Executive,
collectively, the “Parties,” and each, a “Party”). Certain capitalized terms are defined in Section 29.
WITNESSETH:
WHEREAS, the Executive desires to employ the Executive and the Executive desires to accept such employment; and
WHEREAS, the Executive and the Company desire to enter into this Agreement.
NOW, THEREFORE, in consideration of the premises and of the covenants and agreements set forth herein and for other good and
valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the Company and the Executive agree as follows:
1. Employment.
(a) The Company will employ the Executive and the Executive will be employed by the Company upon the terms and
conditions set forth herein.
(b) The employment relationship between the Company and the Executive shall be governed by the general
employment policies and practices of the Company, including without limitation, those relating to the Company’s Code of Conduct,
confidential information and avoidance of conflicts, except that when the terms of this Agreement differ from or are in conflict with
the Company’s general employment policies or practices, this Agreement shall control.
2. Term. Subject to termination under Section 9, the Executive’s employment shall be for an initial term of 24 months commencing
on the Effective Date and shall continue through the second anniversary of the Effective Date (the “Initial Employment Term”). At the end of
the Initial Employment Term and on each succeeding anniversary of the Effective Date, the Employment Term will be automatically
extended by an additional 12 months (each, a “Renewal Term”), unless, not less than 12 months prior to the end of the Initial Employment
Term or any Renewal Term, either the Executive or the Company has given the other written notice (in accordance with Section 20) of
Year Ended December 31,
2011 2010 2009
(In thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss $ (717,333) $ (487,374) $ (325,582)
Adjustments to reconcile net loss to net cash used in operating activities:
Deferred income taxes 105,308
—
—
Loss from equity investees 612,214 496,875 319,199
Changes in assets and liabilities, net:
Prepaids and other assets 2 1,256 (3,980)
Other liabilities 244 (10,469) 543
Net cash provided by (used in) operating activities 435 288 (9,820)
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in equity investees (387,742) (304,015) (12,196)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net advances from Clearwire Communications
—
—
9,820
Proceeds from issuance of common stock 387,296 303,738 12,196
Net cash provided by financing activities 387,296 303,738 22,016
Net (decrease) increase in cash and cash equivalents (11) 11
—
Cash and cash equivalents:
Beginning of period 11
—
—
End of period $
—
$11 $
—
21. Subsequent Events
Section 2: EX-10.43 (EXECUTIVE EMPLOYMENT AGREEMENT)