Sprint - Nextel 2012 Annual Report Download - page 244

receive full payment of any award under the STIP, determined pursuant to the STIP (a “ Bonus Award ” ).
( ii) Long - Term Performance Bonus . During the Employment Term, the Executive shall be entitled to
participate in the LTSIP with such opportunities, if any, as may be determined by the Compensation Committee
( “ LTSIP Target Award Opportunities ” ), which annualized LTSIP Target Award Opportunity for 2013 shall be
$1,200,000.
(iii) Incentive bonuses, if earned, shall be paid when incentive compensation is customarily paid to the
Company's senior executives in accordance with the terms of the applicable plans, programs or arrangements.
(iv) Pursuant to the Company's applicable incentive or bonus plans as in effect from time to time, the
Executive's incentive compensation during the term of this Agreement may be determined according to criteria
intended to qualify as performance - based compensation under Code Section 162(m).
(c) Equity Compensation . The Executive shall be eligible to participate in such equity incentive
compensation plans and programs as the Company generally provides to its senior executives, including, but not limited to,
the LTSIP. During the Employment Term, the Compensation Committee may, in its sole discretion, grant equity awards to the
Executive, which would be subject to the terms of the respective award agreements evidencing such grants and the applicable
plan or program.
(d)
Sign - On Cash Bonus Award . The Company will pay the Executive a cash sign - on bonus in the
amount of $200,000 to be paid 25% as soon as administratively practicable but no later than 30 days after each of January
31, 2013, December 31, 2013, April 30, 2014 and August 31, 2014, in each case less applicable withholdings, except that if
the Executive's employment is terminated by the Company for Cause or by the Executive without Good Reason before the
twenty - four - month anniversary of the Effective Date, effective as of such termination date the Executive will not be entitled to
any unpaid payment and any amounts already paid under this paragraph 4(d) will be repayable to the Company.
5. Benefits .
(a) During the Employment Term, the Company shall make available to the Executive, subject to the
terms and conditions of the applicable plans, participation for the Executive and his eligible dependents in: (i) Company -
sponsored group health, major medical, dental, vision, pension and profit sharing, 401(k) and employee welfare benefit plans,
programs and arrangements (the “ Employee Plans ” ) and such other usual and customary benefits in which senior executives
of the Company participate from time to time, and (ii) such fringe benefits and perquisites as may be made available to senior
executives of the Company as a group.
(b)
The Executive acknowledges that the Company may change its benefit programs from time to time,
which may result in certain benefit programs being amended or terminated for its senior executives generally.
6. Expenses . The Company shall pay or reimburse the Executive for reasonable and