Sprint - Nextel 2015 Annual Report Download - page 364

ARTICLE ONE
INTRODUCTION
1.01 Purpose of the Plan
The Sprint Corporation Change in Control Severance Plan (the “Plan”) provides primarily for severance compensation
benefits for certain key employees following termination of employment in connection with and/or following a Change in
Control. Given the level of acquisition and change in control activity in today’s business environment, the Board recognizes
and understands that many key employees face uncertainty with respect to their job security. In addition, the Board believes
that the concerns of key employees regarding a possible Change in Control transaction may cause them to consider career
changes in an effort to assure financial security for themselves and their families. Consequently, the Corporation desires to
increase the willingness of its key employees to remain with the Corporation (or its Subsidiaries) notwithstanding the
employment uncertainties related to a possible Change in Control by providing certain economic benefits in the event of a
Change in Control, thus allowing such key employees to make career decisions without undue time pressure and financial
uncertainty.
The Plan is intended to provide severance compensation and benefits pursuant to the Plan if a Change in Control of the
Corporation has occurred and the Participant’s employment is either (a) terminated by a Company without Cause or (b)
voluntarily terminated by the Participant for Good Reason in accordance with the terms of this Plan. The purpose and intent
of the Plan is to help the Corporation attract and retain key employees and reduce distractions resulting from a potential
Change in Control. The Board has considered the effect that a Change in Control of the Corporation may have on key
employees of the Corporation and its Subsidiaries, and has found that such a Plan is in the best interest of the Corporation
and its stockholders.
Capitalized terms used throughout the Plan have the meanings set forth in Article Two, except as otherwise defined in the
Plan or where the context clearly requires otherwise.
1.02 Plan Status
The Plan is intended to be a plan providing Severance Benefits following a Change in Control. The Plan is intended to be a
top hat plan for a select group of management or highly compensated executives, subject only to the administration and
enforcement provisions of ERISA.
1.03 Entire Plan
This document, including any Appendix hereto, and any documents incorporated herein by reference set forth the provisions
of the Plan effective as of the date of this current amendment and restatement of the Plan.
CIC Severance Plan
Revision Date: 11.6.15 1