Sprint - Nextel 2011 Annual Report Download - page 218

who remain employed but no later than March 15 of the year following the Separation from Service date.
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(iii) CIC Severance Amount. Except as provided in the next sentence, an amount—payable in accordance with (iv) below
—
equal to: the Participant’s Applicable Multiple (based on the Participant’s Severance Benefits Classification) multiplie
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by the sum of the Participant’s (x) Base Salary and (y) Target Bonus, in each case, for the year in which the
Participant’s termination occurs (“CIC Severance Amount”). If, however, the Participant’s Separation from Service is
for Good Reason due to a reduction of the Participant’s Target Bonus under Section 2.01(u)(iv), the Participant’s
Target Bonus under this subsection will be the Participant’s Target Bonus in effect immediately before the reduction.
(iv) Form and Timing of Payment. The CIC Severance Amount under (iii) above is payable at the time and in the form
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rovided in this subsection, subject to the six-month delay for Specified Employees under Section 4.02(b). This amount
is composed of two parts: the amount to which the Participant would otherwise be entitled under an Employment
Agreement or Separation Plan with respect to Base Salary and annual short term incentive compensation in the absence
of this Plan, assuming the conditions resulting in entitlement to such benefits has occurred, (“Base Severance
Amount”), and the additional amount, if any, provided under (iii) above (“CIC Enhancement”). These amounts are
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ayable as follows, depending for each individual Participant upon whether the Change in Control is a “change in
control event” as defined in the applicable Section 409A Treasury Regulations (“409A CIC”) or not (“Non-409A
CIC”).
(A) 409A CIC. All CIC Severance Amounts payable as a result of a 409A CIC are payable in a lump sum. For any
Participant whose Separation from Service occurs before a Change in Control under circumstances constituting
a Pre-CIC Termination, any CIC Severance Amount payable under this Plan is reduced by amounts previously
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aid with respect to Base Salary and annual short term incentive compensation under an Employment
Agreement or Separation Plan to the Participant for any period after the Separation from Service. The CIC
Severance Amount is payable on (x) the Executive’s Separation from Service date; or (y) for a Pre-CIC
Termination, the closing date of the 409A CIC, except that if the Release Consideration and Revocation Perio
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ends on or after December 15 of the calendar year in which the Participant incurs a Separation from Service, the
CIC Severance Amount is payable on the first business day in the following calendar year.
(B)
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on-409A CIC. All CIC Enhancements payable as a result of a Non-409A CIC are payable in a lump sum. All
Base Severance Amounts payable as a result of a Separation from Service in connection with a Non-409A CIC
are payable in the form provided