Sprint - Nextel 2015 Annual Report Download - page 343

(i) receive from the Company periodic payments equal to his Base Salary in effect prior to the
termination of his employment (reduced by any amounts paid on a monthly basis under any long-term disability plan
(the “LTD Plan”) now or hereafter sponsored by the Company), which payments shall be paid to the Executive
commencing on the Separation from Service date for 12 months in equal installments on the regular payroll dates
under the Company’s payroll practices applicable to the Executive on the date of this Agreement; provided , however
, that in the event that the Executive is a Specified Employee, with respect to any amount payable by reason of the
Executive’s Separation from Service that constitutes deferred compensation within the meaning of Code Section
409A, such installments shall not commence until the earlier to occur of (A) the first business day of the seventh
month following the date of the Executive’s Separation from Service and (B) death, in which case the Executive (or
the Executive’s estate in the event of Executive’s death) shall be paid on the earlier of (1) the first day of the seventh
month following the date of the Executive’s Separation from Service and (2) the Executive’s death a lump-sum cash
payment equal to the aggregate amount of any such payments that constitutes deferred compensation within the
meaning of Code Section 409A that the Executive would have been entitled to receive during such period following
the Executive’s Separation from Service; and
(ii) continue participation in the Company’s group health plans at then-existing participation and
coverage levels for 12 months (measured from the Executive’s Separation from Service), comparable to the terms in
effect from time to time for the Company’s senior executives, including any co-payment and premium payment
requirements, and the Company shall deduct from each payment payable to the Executive pursuant to Section 9(e)(i),
the amount of any employee contributions necessary to maintain such coverage for such period; except that following
such period, the Executive shall retain any rights to continue coverage under the Company’s group health plans under
the benefits continuation provisions pursuant to Code Section 4980B by paying the applicable premiums of such
plans.
(f) No Mitigation Obligation . No amounts paid under Section 9 will be reduced by any earnings that
the Executive may receive from any other source. The Executive’s coverage under the Company’s medical, dental, vision
and employee life insurance plans will terminate as of the date that the Executive is eligible for comparable benefits from a
new employer. The Executive shall notify the Company within 30 days after becoming eligible for coverage of any such
benefits.
(g) Forfeiture . Notwithstanding the foregoing, any right of the Executive to receive termination
payments and benefits hereunder shall be forfeited to the extent of any amounts payable after any breach of Section 10, 11,
12, 13 or 15 by the Executive.
10. Confidential Information; Statements to Third Parties.