Sprint - Nextel 2013 Annual Report Download - page 257

Plan, effective May 8, 2007, as may be amended from time to time, or any successor plan, program, or arrangement thereto (the “ Short - Term
Incentive Plan ” ), throughout the Severance Period provided that the amount, if any, payable under such Plan for the award period including
the last day of the Severance Period, pro rated based upon the number of months of the Severance Period that fall within the award period
and the total number of months in such award period, and each such payment shall be payable in accordance with the provisions of the
applicable Short - Term Incentive Plan in the calendar year in which the applicable bonus is determined, and in all events, not later than
December 31
st
of the year in which each such bonus is determined;
(c) to receive an award under the Long Term Incentive Plan, pro rated based on the Executive ’ s last day worked, exclusive of
any Severance Period, determined in accordance with the terms of said Plan, and each such payment shall be payable in accordance with the
provisions of the applicable Long - Term Incentive Plan in the calendar year in which the applicable award is determined, and in all events, not
later than December 31
st
of the year in which each such award is determined;
(d) to continue to receive throughout the Severance Period any executive medical, dental, life and qualified and non - qualified
retirement benefits which the Executive was receiving or was entitled to receive at the time of termination, except that long term disability and
short term disability benefits cease on the last day worked;
(e) to receive outplacement counseling by a firm selected by Employer to continue until Executive becomes employed;
provided, however, that all such outplacement services must be completed, and all payments by Employer must be made, by December 31st
of the second calendar year following the calendar year in which Executive ’ s Separation from Service occurs; and
(f) to continue to receive throughout the Severance Period all applicable executive perquisites (including automobile allowance,
long distance services and all miscellaneous services) except country club membership dues and accrual of vacation, subject to the provisions
of Section 26 hereof.
For purposes of this Agreement, “ Separation from Service ” means “ separation from service ” from Employer as described under
Section 409A of the Code and the guidance and Treasury regulations issued thereunder. Separation from Service will occur on the date on
which Executive ’ s level of services to the Employer decreases to 21 percent or less of the average level of services performed by Executive
over the immediately preceding 36 - month period (or if providing services for less than 36 months, such lesser period) after taking into account
any services that Executive provided prior to such date or that the Employer and Executive reasonably anticipate Executive may provide
(whether as an employee or as an independent contractor) after such date. For purposes of the determination of whether Executive has had a
Separation from Service, the term “ Employer ” shall mean Sprint and any affiliate with which Sprint would be considered a single employer
under Section 414(b) or 414(c) of the Code, provided that in applying Sections 1563(a)(1), (2), and (3) of the Code for purposes of
determining a controlled group of corporations under Section 414(b) of the Code, the language “ at least 50 percent ” is used instead of “ at
least 80 percent
” each place it appears in Sections
-3-
Schieber Special Compensation Agreement 12.19.2008