Sprint - Nextel 2011 Annual Report Download - page 160

(i) receive periodic payments equal to his Base Salary in effect prior to the termination of his employment (reduced
by any amounts paid on a monthly basis under any long-term disability plan (the “LTD Plan”) now or hereafter sponsored by
the Company), which payments shall be paid to the Executive commencing on the Separation from Service date for 12 months
in equal installments on the regular payroll dates under the Company’s payroll practices applicable to the Executive on the date
of this Agreement; provided, however, that in the event that the Executive is a Specified Employee, with respect to any amount
payable by reason of the Executive’s Separation from Service that constitutes deferred compensation within the meaning of
Code Section 409A, such installments shall not commence until the earlier to occur of (A) the first business day of the seventh
month following the date of the Executive’s Separation from Service and (B) death, in which case the Executive (or the
Executive’s estate in the event of Executive’s death) shall be paid on the earlier of (1) the first day of the seventh month
following the date of the Executive’s Separation from Service and (2) the Executive’s death a lump-sum cash payment equal to
the aggregate amount of any such payments that constitutes deferred compensation within the meaning of Code Section 409A
that the Executive would have been entitled to receive during such period following the Executive’s Separation from Service;
and
(ii) continue participation in the Company’s group health plans at then-existing participation and coverage levels for
12 months (measured from the Executive’s Separation from Service), comparable to the terms in effect from time to time for
the Company’s senior executives, including any co-payment and premium payment requirements, and the Company shall
deduct from each payment payable to the Executive pursuant to Section 9(e)(i), the amount of any employee contributions
necessary to maintain such coverage for such period; except that following such period, the Executive shall retain any rights to
continue coverage under the Company’s group health plans under the benefits continuation provisions pursuant to Code
Section 4980B by paying the applicable premiums of such plans.
(f) No Mitigation Obligation. No amounts paid under Section 9 will be reduced by any earnings that the Executive
may receive from any other source. The Executive’s coverage under the Company’s medical, dental, vision and employee life
insurance plans will terminate as of the date that the Executive is eligible for comparable benefits from a new employer. The
Executive shall notify the Company within 30 days after becoming eligible for coverage of any such benefits.
(g) Forfeiture. Notwithstanding the foregoing, any right of the Executive to receive termination payments and
benefits hereunder shall be forfeited to the extent of any amounts payable after any breach of Sections 10, 11, 12, 13 or 15 by the
Executive.
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