Sprint - Nextel 2011 Annual Report Download - page 190

may not at any time elect to exchange any portion of the Participant's other Investment Funds for Embarq Share Units.
3.2.6 Debits and Credits to Accounts. Adjustments to Accounts shall be made in accordance with the following rules:
Notwithstanding the foregoing, the Committee may establish revised or additional rules for the adjustment of Accounts
including, without limiting the generality of the foregoing, the times when contributions shall be credited under this Section 3
and the manner of allocating gains and losses of Accounts.
3.3 No Actual Investment. Notwithstanding any other provision of this Plan that may be interpreted to the contrary, the Investment Funds
are to be used for measurement purposes only, and a Participant's election of any such Investment Fund, the allocation to his or her Account
in respect thereto, the calculation of additional amounts and the crediting or debiting of such amounts to a Participant's Account shall not be
considered or construed in any manner as an actual investment of his or her Account in any such Investment Fund. In the event that Sprint
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extel or the trustees of the trusts (if any), in their own discretion, decide to invest funds in any or all of the Investment Funds, no Participant
shall have any rights in or to such investments themselves. Without limiting the foregoing, a Participant's Account shall at all times be a
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ookkeeping entry only and shall not represent any investment made on his or her behalf by Sprint Nextel or any trust; the Participant shall at
all times remain an unsecured creditor of Sprint Nextel.
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(c) Effective as of December 31, 2006, the Embarq Share Unit Fund shall cease to exist. As of such time, all Embarq Share Units
credited thereunder shall be converted to Sprint Nextel Share Units based on the fair market value of such units, in the manne
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determined by the Committee in its discretion.
(a) To the extent administratively feasible, any Account will be valued daily at the fair market value thereof by adding (i) the fai
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market value of all investments reflected in the Account, (ii) any accrued interest or declared dividends (as of the record date)
on such hypothetical investments not reflected in (i) above, and (iii) an amount equal to the hypothetical cash reflected in the
Account; and subtracting therefrom any liabilities of the Account. Participant's Accounts will be adjusted daily by allocating
among them the earnings or losses of each Investment Fund since the previous day in proportion to each Participant's portion
of the Investment Fund balance immediately following the previous day's adjustment. To the extent daily Account valuations
and adjustments are not administratively feasible, such valuations and adjustments shall occur as frequently as administratively
feasible.
(b) Distributions shall be made in cash or cash equivalents and made pursuant to Section 5. The amount paid upon such a
distribution shall be based on the value immediately after the adjustment of a Participant's Account on the effective date of the
withdrawal or distribution.