Sprint - Nextel 2011 Annual Report Download - page 223

ARTICLE FIVE
AMENDMENT AND TERMINATION
The Corporation reserves the right to amend, modify or change the Plan, at any time without any Participant’s consent; provided,
however, that any amendment, modification or change that adversely affects a Participant’s severance benefits and/or rights will not
apply to a Participant if the revision is made within six (6) months prior to, the occurrence of a Change in Control without the
Participant’s written consent (and before all payments and benefits hereunder or at or following the occurrence of such Change in
Control associated with such Change in Control are paid or made available as set forth herein), except as may be otherwise required to
comply with changes in applicable laws or regulations, including as set forth in Section 4.02.
The term of the Plan shall be for an initial term of two (2) years commencing on the Effective Date and shall continue through
December 31, 2008 (the “Initial Term”); provided, however, that at the end of the Initial Term and on each succeeding anniversary o
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the Effective Date, the Plan will be automatically extended by an additional one (1) year (each, a “Renewal Term”), unless, not less
than one (1) year prior to the end of the Initial Term or any Renewal Term, a Company has given the Participants written notice o
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nonrenewal. Notwithstanding the foregoing, following the commencement of any discussions with a third party that result in a Change
in Control, the Plan shall continue subject to Section 5.01, until the applicable Participating Employer has fully performed all of such
Participating Employer’s obligations under the Plan with respect to all Participants, and shall have paid all Severance Benefits unde
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the Plan in full to all Participants.
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5.01 Amendmen
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5.02 Termination