Sprint - Nextel 2013 Annual Report Download - page 94

Table of Contents
In addition, Mr. Hesse would receive his Sign
- On RSU Award (as defined in his employment agreement) on the first business day of the seventh month
following his termination.
Termination Disability Plan Benefits
If our named executive officers' employment had terminated as a result of their disability, they would have been entitled to:
In addition, Mr. Hesse would receive his Sign
- On RSU Award on the first business day of the seventh month following his termination.
Termination as a Result of Death
Had our named executive officers' employment terminated as a result of their death, their estates would have been entitled, as with respect to our
employees generally, to a payment of the 2013 STIC plan award payable based on actual performance, the performance units under the 2011 LTIC plan payable
based on actual performance through 2012 and at target for the 2013 performance period, and immediate vesting of options granted with exercisability thereof for
12 months and of RSUs granted with performance
- based RSUs payable at target. Mr. Hesse ’ s estate also would have received his Sign - On RSU Award on the
first business day of the seventh month following his death, and Mr. Johnson's estate also would have received continuation of his base salary for 12 months.
Conditions Applicable to the Receipt of Severance Payments and Benefits
As a condition to our named executive officers' entitlement to receive the amounts above, except for vested retirement or death benefits, they would
have been:
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•
payment of their STIC plan award for 2013 at their STIC target opportunity plus a lump sum payment equal to their STIC target opportunity as of
December 31, 2013 for their respective payment period and, for Messrs. Johnson and Alves, the difference between their 2013 STIC target
opportunity for the first half performance period and the 2013 STIC Plan award based on actual performance for such period;
•
a payment of their 2011 LTIC plan performance unit award payable based on actual performance through 2012 and at target for the 2013
performance period, a payment of their 2012 LTIC plan performance unit award payable at target, and immediate vesting as of their termination
date of:
◦
outstanding options with exercisability of such options vested through the 90
th
day (12 months for Mr. Johnson) after such vesting; and
◦
RSUs granted, prorated (except for Mr. Johnson) to their termination date for RSUs granted under the 2013 LTIC plan for a termination not
following a change in control, with performance
- based RSUs under the 2011 LTIC plan payable based on actual performance through 2012
and at target for the 2013 performance period, under the 2012 LTIC plan payable at target, and under the 2013 LTIC plan payable based on
actual performance (at target for Mr. Johnson, or for terminations following a change in control); and
•
continued participation for the payment period at employee rates in our group health and life plans (and for Mr. Johnson, the long - term disability
plan, and for Messrs. Wunsch and Alves, pension and supplemental retirement benefits) plans and outplacement services in an amount not to
exceed $35,000 (for Mr. Johnson: $50,000; zero if his termination was for good reason based on relocation), each for the duration of his payment
period.
•
continuation of their base salary for 12 months, less (except for Mr. Johnson) any benefits paid under our Long - term Disability Plan, through
periodic payment with the same frequency as our payroll schedule;
•
a payment of their 2013 STIC plan award payable based on actual performance;
•
the 2011 LTIC plan performance unit award payable based on actual performance through 2012 and at target for the 2013 performance period and
immediate vesting of options granted with exercisability thereof for five years (12 months for Mr. Johnson) and of RSUs granted with
performance
- based RSUs payable at target; and
•
continued participation at employee rates in our group health and life plans for 12 months.
•
required to execute a release in favor of us;
•
subject to confidentiality and non - disparagement provisions on a permanent basis following the termination of their employment; and
•
for the duration of their payment period, prohibited from:
◦
engaging in certain employment activities with a competitor of ours;
◦
soliciting our employees and certain other parties doing business with us to terminate their relationship with us; and