Sprint - Nextel 2011 Annual Report Download - page 155

(i) Annual Performance Bonus. During the Employment Term, the Executive shall be entitled to participate in the
STIP, with such opportunities as may be determined by the Compensation Committee in its sole discretion (“Target Bonuses”);
provided, however, that for the Company’s fiscal year ending in 2011 (“FY 2011”) the Executive will participate, on a prorated
basis for the period of FY 2011 in which he is employed, at an annual Target Bonus opportunity equal to 70% of his Base
Salary. The Executive’s Target Bonus may be increased (but not decreased, except for across-the-board reductions generally
applicable to the Company’s senior executives) from time to time, and the Executive shall be entitled to receive full payment
of any award under the STIP, determined pursuant to the STIP (a “Bonus Award”).
(ii) Long-Term Performance Bonus. During the Employment Term, the Executive shall be entitled to participate in
the LTSIP with such opportunities, if any, as may be determined by the Compensation Committee (“LTSIP Target Award
Opportunities”), provided, however, that the Executive’s LTSIP Target Award Opportunity for FY 2012 shall be equal to
$900,000.
(iii) Incentive bonuses, if earned, shall be paid when incentive compensation is customarily paid to the Company’s
senior executives in accordance with the terms of the applicable plans, programs or arrangements.
(iv) Pursuant to the Company’s applicable incentive or bonus plans as in effect from time to time, the Executive’s
incentive compensation during the term of this Agreement may be determined according to criteria intended to qualify as
performance-based compensation under Code Section 162(m).
(c) Equity Compensation. The Executive shall be eligible to participate in such equity incentive compensation plans
and programs as the Company generally provides to its senior executives, including, but not limited to, the LTSIP. During the
Employment Term, the Compensation Committee may, in its sole discretion, grant equity awards to the Executive, which would be
subject to the terms of the respective award agreements evidencing such grants and the applicable plan or program.
(i) Restricted Stock Units. The Compensation Committee hereby grants to the Executive 65,000 restricted stock units
(the “RSUs”), which shall be subject to the terms and conditions of the award agreement attached hereto as Exhibit A, and,
except as otherwise provided in such agreement, shall be governed by the provisions of the LTSIP.
5. Benefits.
(a) During the Employment Term, the Company shall make available to the Executive, subject to the terms and
conditions of the applicable plans, participation for the Executive and his eligible dependents in: (i) Company-sponsored group health,
major medical, dental, vision, pension and profit sharing, 401(k) and employee welfare benefit plans, programs and arrangements (the
“Employee Plans”) and such other usual and customary benefits in which
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