Sprint - Nextel 2013 Annual Report Download - page 258

1563(a)(1), (2) and (3) of the Code, and in applying Treasury Regulation Section 1.414(c) - 2 for purposes of determining trades or
businesses (whether or not incorporated) that are under common control for purposes of Section 414(c) of the Code, “ at least 50 percent ” is
used instead of “ at least 80 percent ” each place it appears in Treasury Regulation Section 1.414(c) - 2. In addition, where the use of such
definition of “ Employer ” for purposes of determining a Separation from Service is based upon legitimate business criteria, 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 20 percent ” is used instead of “ at least 80 percent ” at each place it appears in Sections 1563(a)(1), (2) and (3) of the
Code, and in applying Treasury Regulation Section 1.414(c) - 2 for purposes of determining trades or businesses (whether or not
incorporated) that are under common control for purposes of Section 414(c) of the Code, “ at least 20 percent ” is used instead of “ at least 80
percent ” at each place it appears in Treasury Regulation Section 1.414(c) -2.
All payments pursuant to this Section shall be subject to applicable federal and state income and other withholding taxes.
In addition to the Special Compensation described above, Executive shall also be entitled to any vacation pay for vacation accrued by
Executive in the calendar year of termination but not taken by his Separation from Service date.
In the event Executive becomes employed full time during the Severance Period, Executive ’ s entitlement to continuation of the benefits
described in paragraph (d) shall immediately cease, however, Executive shall retain any rights to continue medical insurance coverage under
the COBRA continuation provisions of the group medical insurance plan by paying the applicable premium therefor.
The payments and benefits provided for in this Section shall be in addition to all other sums then payable and owing to Executive
hereunder and, except as expressly provided herein, shall not be subject to reduction for any amounts received by Executive for employment
or services provided after termination of employment hereunder, and shall be in full settlement and satisfaction of all of Executive ’ s claims and
demands.
In all events, Executive ’ s right to receive severance and/or other benefits pursuant to this Section shall cease immediately in the event
Executive is reemployed by Employer or an affiliate or Executive breaches his Confidential Information Covenant (as defined in Section 11
hereof), or breaches Sections 12, 13 or 14 hereof. In all cases, Employer ’ s rights under Section 15 shall continue.
Upon termination of Executive ’ s employment by either Voluntary Resignation, Termination for Cause (as those terms are defined in
this Section 6), or Total Disability, as that term is defined in the Long Term Disability Plan, Executive shall have no right to compensation,
severance pay or other benefits described herein but Executive ’ s obligations under Sections 11, 12, 13 and 14 hereof shall continue.
-4-
Schieber Special Compensation Agreement 12.19.2008
6.
Voluntary Resignation by Executive; Termination for Cause; Total Disability