Sprint - Nextel 2012 Annual Report Download - page 222

CIC Severance Plan means the Sprint Nextel Corporation Change in Control Plan, as it may be amended from time to time,
or any successor plan.
CIC Severance Protection Period means the time period commencing on the date of the first occurrence of a Change in
Control and continuing until the earlier of (i) the 18 - month anniversary of such date and (ii) the Participant's death.
Sprint Nextel Separation Plan means the Sprint Nextel Separation Plan as it may be amended from time to time or any
successor plan.
Termination Date means the later of (a) the last day of your relationship with us as a common - law employee as reflected on
our payroll records, and (b) if, after your involuntary termination you receive severance from us paid according to our payroll cycle
(i.e., not in a lump sum), the last day of your severance pay period.
4.
Exercise of Option Right
To the extent it has vested, you may exercise your Option Right under this Award in whole or in part at the time or times as
permitted by the Plan if the Option Right has not otherwise expired, been forfeited or terminated. To exercise you must:
You may pay the Option Price by
If you pay the Option Price by delivery of funds or shares of Common Stock, the value per share for purposes of determining
your taxable income from such an exercise will be the Market Value Per Share of the Common Stock on the immediately preceding
day before the exercise except that we will use the average of the high and low prices on that date in lieu of the closing price.
To the extent permitted by law, you may pay the Option Price from the proceeds of a sale through a broker we designate.
The Market Value Per Share for purposes of determining your taxable income from such an exercise will be the actual price at which
the broker sold the shares.
5.
Expiration of Option Right
Unless terminated earlier in accordance with the terms of this Agreement or the Plan, the Option Right granted herein will
expire at 4:00 P.M., U.S. Eastern Time, on the tenth anniversary of the Grant Date (the “ Expiration Date ” ). If the tenth anniversary of
the Grant Date, however, is a Saturday, Sunday or any other day on which the market on which our Common Stock trades is closed
(a “ Non - Business Day ” ), then the Expiration Date will occur at 4:00 P.M., U.S. Eastern Time, on the first business day before the
tenth anniversary of the Grant Date.
6.
Effect of your Termination of Employment
The length of time you have to exercise your vested Option Right after your termination of employment with us depends on
the reason for your termination. The table below describes the post -
•
deliver a written election under procedures we establish (including by approved electronic medium) and
•
pay the Option Price.
•
check or by wire transfer of immediately available funds,
•
actual or constructive transfer of shares of Common Stock you have owned for at least six months having a market value on
the Exercise Date equal to the total Option Price, or
•
any combination of cash, shares of Common Stock and other consideration as the Compensation Committee may permit.