Sprint - Nextel 2011 Annual Report Download - page 228

Except as otherwise provided herein, the Plan shall not affect any Participant’s rights or entitlement under any other retirement o
r
employee benefit plan offered to him by the Corporation or a Subsidiary or affiliate of the Corporation (as appropriate) as of the date
of the Participant’s termination of employment.
The Plan shall be binding upon any successor in interest of any Company and shall inure to the benefit of, and be enforceable by, the
Participant’s assigns or heirs.
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6.10 Adoption Procedure for Participating Employe
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(a) Any Subsidiary of the Corporation may become a Participating Employer under the Plan provided that (i) the Board approves
the adoption of the Plan by such Subsidiary and designates such Subsidiary as a Participating Employer in the Plan and (ii) by
appropriate resolutions of the board of directors or other governing body of such Subsidiary, such Subsidiary agrees to become
a Participating Employer under the Plan and also agrees to be bound by any other terms and conditions which may be require
d
b
y the Board or the Compensation Committee, provided that such terms and conditions are not inconsistent with the purposes
of the Plan.
(b) A Participating Employer may withdraw from participation in the Plan, subject to approval by the Compensation Committee,
b
y providing written notice to the Compensation Committee that withdrawal has been approved by the board of directors o
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other governing body of the Participating Employer; provided, however, following the commencement of any discussion with
a third party that ultimately results in a Change in Control, the Compensation Committee shall have no authority to approve the
withdrawal of any Participating Employer until such time as the Corporation and each Subsidiary of the Corporation (as
appropriate) shall have fully performed all of their obligations under the Plan with respect to all Participants, and shall have
p
aid all Severance Benefits under the Plan in full to all Participants. The Board may at any time remove a Participating
Employer from participation in the Plan by providing written notice to the Participating Employer that it has approve
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removal; provided, however, following the commencement of any discussion with a third party that ultimately results in a
Change in Control, the Board shall have no authority to remove or approve the withdrawal of any Participating Employer until
such time as the Corporation and each Subsidiary of the Corporation (as appropriate) shall have fully performed all of thei
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obligations under the Plan with respect to all Participants, and shall have paid all Severance Benefits under the Plan in full to
all Participants. The Board will act in accordance with this Article pursuant to unanimous written consent or by majority vote
at a meeting.
6.11 Effect on Other Benefits
6.12 Successors