Sprint - Nextel 2015 Annual Report Download - page 377

who remain employed but no later than June 15 of the fiscal year following the Separation from Service date.
(iii) CIC Severance Amount . Except as provided in the next sentence, an amount-payable in accordance with (iv)
below-equal to: the Participant’s Applicable Multiple (based on the Participant’s Severance Benefits
Classification) multiplied by the sum of the Participant’s (x) Base Salary and (y) Target Bonus, in each case,
for the year in which the Participant’s termination occurs (“CIC Severance Amount”). If, however, the
Participant’s Separation from Service is for Good Reason due to a reduction of the Participant’s Target Bonus
under Section 2.01(u)(iv), the Participant’s Target Bonus under this subsection will be the Participant’s Target
Bonus in effect immediately before the reduction.
(iv) Form and Timing of Payment . The CIC Severance Amount under (iii) above is payable at the time and in the
form provided in this subsection, subject to the six-month delay for Specified Employees under Section
4.02(b). This amount is composed of two parts: the amount to which the Participant would otherwise be
entitled under an Employment Agreement or Separation Plan with respect to Base Salary and annual short
term incentive compensation in the absence of this Plan, assuming the conditions resulting in entitlement to
such benefits has occurred, (“Base Severance Amount”), and the additional amount, if any, provided under
(iii) above (“CIC Enhancement”). These amounts are payable as follows, depending for each individual
Participant upon whether the Change in Control is a “change in control event” as defined in the applicable
Section 409A Treasury Regulations (“409A CIC”) or not (“Non-409A CIC”).
(A) 409A CIC . All CIC Severance Amounts payable as a result of a 409A CIC are payable in a lump sum.
For any Participant whose Separation from Service occurs before a Change in Control under
circumstances constituting a Pre-CIC Termination, any CIC Severance Amount payable under this
Plan is reduced by amounts previously paid with respect to Base Salary and annual short term
incentive compensation under an Employment Agreement or Separation Plan to the Participant for any
period after the Separation from Service. The CIC Severance Amount is payable on (x) the
Executive’s Separation from Service date; or (y) for a Pre-CIC Termination, the closing date of the
409A CIC, except that if the Release Consideration and Revocation Period ends on or after December
15 of the calendar year in which the Participant incurs a Separation from Service, the CIC Severance
Amount is payable on the first business day in the following calendar year.
(B) Non-409A CIC . All CIC Enhancements payable as a result of a Non-409A CIC are payable in a lump
sum. All Base Severance Amounts payable as a result of a Separation from Service in connection with
a Non-409A CIC are payable in the form provided
CIC Severance Plan
Revision Date: 11.6.15 14