Sprint - Nextel 2015 Annual Report Download - page 382

ARTICLE FIVE
AMENDMENT AND TERMINATION
5.01 Amendment
The Corporation reserves the right to amend, modify or change the Plan, at any time without any Participant’s consent;
provided , however , that any amendment, modification or change that adversely affects a Participant’s severance benefits
and/or rights will not apply to a Participant if the revision is made within six (6) months prior to the occurrence of a Change
in Control without the Participant’s written consent (and before all payments and benefits hereunder or at or following the
occurrence of such Change in Control associated with such Change in Control are paid or made available as set forth herein),
except as may be otherwise required to comply with changes in applicable laws or regulations, including as set forth in
Section 4.02.
5.02 Termination
The term of the Plan shall be for an initial term of two (2) years commencing on the Effective Date and shall continue
through December 31, 2008 (the “Initial Term”); provided , however , that at the end of the Initial Term and on each
succeeding anniversary of the Effective Date, the Plan will be automatically extended by an additional one (1) year (each, a
“Renewal Term”), unless, not less than one (1) year prior to the end of the Initial Term or any Renewal Term, a Company has
given the Participants written notice of nonrenewal. Notwithstanding the foregoing, following the commencement of any
discussions with a third party that result in a Change in Control, the Plan shall continue subject to Section 5.01, until the
applicable Participating Employer has fully performed all of such Participating Employer’s obligations under the Plan with
respect to all Participants, and shall have paid all Severance Benefits under the Plan in full to all Participants.
CIC Severance Plan
Revision Date: 11.6.15 19