Sprint - Nextel 2011 Annual Report Download - page 188

least twelve (12) months, a Participant may, under uniform rules adopted by the Committee, file an Initial Deferral Election Form with
the Committee no later than six (6) months before the end of the performance period for which such performance-
b
ased compensation
is paid so long as the Participant has performed services continuously from the date performance criteria are established through the
date of the election. This rule shall apply only to Compensation determined by the Committee to be "bonus compensation" where (a)
the payment or amount of the Compensation is contingent upon the satisfaction of organizational or individual performance criteria
(including subjective criteria in certain circumstances), and (b) the performance criteria are not substantially certain to be satisfied at
the time of election.
2.2.2 Distribution Election. With respect to each initial deferral election made by a Participant pursuant to Section 2.2.1, such
Participant shall, pursuant to Sections 5.1 and 5.2, below, also elect the time and form of distribution of such Pre-Tax Contributions.
2.3 Specific Exclusions. Notwithstanding anything to the contrary in this Plan Statement or in any written communication, summary,
resolution, document or oral communication, no individual shall be a Participant in this Plan, develop benefits under this Plan or be entitled to
receive benefits under this Plan (either for himself or herself or his or her survivors) unless such individual is either a member of a select
group of management or highly compensated employees (as that expression is used in Section 201(2) of ERISA) or a Board Member.
2.4 Suspension of Pre-Tax Contributions. If a Participant has made a withdrawal due to hardship under Treasury Regulations Section
1.401(k)-1(d)(3), all remaining Pre-Tax Contributions for the year in which such hardship distribution was made shall be cancelled and such
Participant shall not be permitted to make any further Pre-Tax Contributions to the Plan absent the acceptance of a new Pre-Tax Contribution
Election Form made for the first Plan Year beginning at least six months after the hardship withdrawal for that Participant consistent with
Section 2.2.
SECTION 3
ADJUSTMENT OF ACCOUNTS
3.1 Credits to Accounts. Accounts shall be established for each Participant and shall be adjusted each Valuation Date.
3.1.1 Pre-Tax Contributions. The Participant's Pre-Tax Contribution Account shall be credited with the amount of such
contribution within an administratively reasonable time following the date that the amount elected by the Participant as a Pre-Tax
Contribution would otherwise be paid to such Participant.
3.1.2 Matching Contributions. At such time as the Committee shall determine, the Matching Contribution Account of each
Participant who is an Eligible Employee shall be credited with a Matching Contribution equal to the lesser of 100% of such
Participant's Pre-Tax Contributions, and (b) the percentage amount, applied to their Compensation as described in Section 1.2.10(b),
equal to the maximum percentage amount of their
7