Sprint - Nextel 2011 Annual Report Download - page 203

SECTION 10
DISCLAIMERS
10.1 No Implied Employment Contract. The Plan shall not be deemed (i) to give any employee or other person any right to be retained in
the employ of Sprint Nextel or (ii) to interfere with the right of Sprint Nextel to discharge any employee or other person at any time for any o
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no reason, which right is hereby reserved.
10.2 Source of Payment. Neither Sprint Nextel nor any of its officers nor any member of the Committee or the Board of Directors in any
way secure or guarantee the payment of any benefit or amount which may become due and payable hereunder to any Participant or to any
Beneficiary or to any creditor of a Participant or a Beneficiary. Each Participant, Beneficiary or other person entitled at any time to payments
hereunder shall look solely to the assets of Sprint Nextel for such payments or to the Accounts distributed to any Participant or Beneficiary, as
the case may be, for such payments. In each case where Accounts shall have been distributed to a former Participant or a Beneficiary or to the
p
erson or any one of a group of persons entitled jointly to the receipt thereof and which purports to cover in full the benefit hereunder, such
former Participant or Beneficiary, or such person or persons, as the case may be, shall have no further right or interest in the other assets o
f
Sprint Nextel. Neither Sprint Nextel nor any of its officers nor any member of its Board of Directors shall be under any liability o
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responsibility for failure to affect any of the objectives or purposes of the Plan by reason of the insolvency of Sprint Nextel.
10.3 Delegation. Sprint Nextel, and its officers and the members of its Board of Directors and the Committee shall not be liable for an act
or omission of another person with regard to a responsibility that has been allocated to or delegated to such other person pursuant to the terms
of this Plan Statement or pursuant to procedures set forth in this Plan Statement.
10.4 Prohibition on Acceleration of Payments. The time or schedule of any payment or amount scheduled to be paid pursuant to the terms
of the Plan may not be accelerated except as otherwise permitted under Code Section 409A and the guidance and Treasury regulations issue
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thereunder.
10.5 Code Section 409A. The Plan and the benefits provided hereunder are intended to comply with Code Section 409A and the guidance
and Treasury regulations issued thereunder, to the extent applicable thereto. Notwithstanding any provision of the Plan to the contrary, the
Plan shall be interpreted and construed consistent with this intent. Notwithstanding the foregoing, Sprint Nextel shall not be required to
assume any increased economic burden in connection therewith. Although Sprint Nextel intends to administer the Plan so that it will comply
with the requirements of Code Section 409A, Sprint Nextel does not represent or warrant that the Plan will comply with Code Section 409A
or any other provision of federal, state, local, or non-United States law. Neither Sprint Nextel, its subsidiaries, nor their respective directors,
officers, employees or advisers shall be liable to any Participant (or any other individual claiming a benefit through the Participant) for any
tax, interest, or penalties the Participant may owe as a result of participation in the Plan, and Sprint Nextel and its subsidiaries shall have no
obligation to indemnify or otherwise protect any Participant from the obligation
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