General Benefit Summary - Sprint

Transcription

General Benefit SummaryIntroductionThis Summary provides general information about your pay and benefits in connection with youremployment termination that meets eligibility criteria for benefits under the Sprint Separation Plan(Separation Plan). The Summary also includes information related to pay and benefits continuationprovided if, as explained below, Sprint determines the Worker Adjustment and Retraining Notification(WARN) Act requirements apply to your termination. The following terms used in this Summary are asdefined below: Your Separation Date is generally your last workday. A WARN Notice is an official notice of employment termination for purposes of Sprint’s compliancewith the WARN Act. If you received such a notice, the provisions in this Summary related to WARNwill apply to you. Your WARN Period is the 60-day period after your WARN Notice, if applicable. Your WARN End Date is the last day of your WARN Period. Your official employment Termination Date is your last day of common law employment with us,generally the later of your Separation Date or your WARN End Date, if applicable. Your Separation Pay Period is the number of weeks for your years of service and job level asdescribed in the Separation plan, beginning the day after your Termination Date. The pay and benefits described in this Summary by reference to the Separation Pay Period or theSeparation Plan are subject to an effective General Release Agreement.General Release AgreementThe General Release Agreement (GRA) is the document that must become effective and be receivedbefore full Separation Plan benefits may begin. A GRA becomes effective after you review, timely sign andFor additional information see the Separation Plan and FAQ atGeneral Benefit Summary Updated July 15, 2019www.sprint.com/separationThis overview is designed only to provide highlights of the benefit plans that may have impact during separation; not every provision of each plan isincluded in this summary. If there are any conflicts between this overview and the official plan documents, the plan or program documents willgovern. Plan and program documents can be found on iConnect or if you no longer have access to iConnect please call the EHL 1-800-697-6000.

General Benefit Summaryreturn your personalized GRA, per the instructions provided in the GRA, and any applicable revocationperiod has expired without revocation. Refer to your GRA for applicable time periods. Do not sign the GRAbefore your Separation Date. The executed GRA must be by emailed to grareceived@sprint.com, mailed,or delivered in person and within the appropriate time frame. You may return your executed GRA on, butno earlier than, the close of your workday on your Separation Date. If you do not timely and properly signand return, or if you revoke your GRA, you will receive only the greater of:Two weeks of pay continuation after your Termination Date. You are not eligible for these minimumbenefits and the full Separation Plan benefits payable with your effective GRA. The minimums are in lieu offull Separation Plan benefits and vice versa.IMPORTANT TIMING NOTICE: Even with an effective GRA, you may experience interrupted pay and benefitscontinuation depending on the date your GRA is effective in relation to Sprint payroll cycles. Sprint makesno off- cycle payments, regardless of when in the payroll cycle your GRA becomes effective. YourSeparation Pay Period will not be extended by the amount of time of any such interruption. However, anymissed pay will be paid in a lump sum on the next administratively practicable payroll date, your benefitswill resume retroactively, after your GRA is received and effective.WARN (if applicable) and Separation Plan CoordinationWhere applicable, the WARN Act requires 60 days written notice of employment termination. In mostcases, employees are scheduled to work only a few days of that notice period Sprint then provides payand benefit continuation (WARN Pay and Benefits for the amount of time left in the 60-day notice period.You would be eligible for this even if you do not have an effective GRA. However, any amount of WARN Payand Benefits you receive will count toward weeks of the Separation Pay Period you are eligible for if you doFor additional information see the Separation Plan andResources at https: //www.sprint.com/separationGeneral Benefit Summary Updated July 15, 2019This overview is designed only to provide highlights of the benefit plans that may have impact during separation; not every provisionof each plan is included in this summary. If there are any conflicts between this overview and the official plan documents, the plan orprogram documents will govern. Plan and program documents can be found on iConnect or if you no longer have access to iConnectplease call the EHL 1-800-697-6000.

General Benefit Summaryhave an effective GRA. In other words, you will not receive both WARN Pay and Benefits and SalarySeparation Pay and benefits continuation, or pay, for any WARN Period left after your Separation Date. Also,the start of the Separation Pay Period is not delayed until after your WARN Period ends.Salary Separation PayYou are eligible under the Separation Plan for Salary Separation Pay, which is your regular base paycontinued a biweekly basis, through your Separation Pay Period. If you are covered under a salescompensation plan, Salary Separation Pay is your regular base pay plus 100% of your targeted salesincentive or commission, unless another formula is required by law. Federal income tax on SalarySeparation Pay will be withheld at the flat 25% supplemental rate or at the table rate depending on otherwages that are being paid with our separation pay. State withholdings will vary by state, but will also bewithheld at the state's supplemental income tax withholding rate where applicable.Short-Term Incentive PlanIf you are a participant in a Short-Term Incentive Plan (STI Plan), you are eligible under the Separation Planfor a prorated payout of such STI Plan award, if any, for the performance period in which your SeparationDate, or your WARN End Date if later, occurs. The prorated payout, if any, will otherwise be made inaccordance with the terms (including timing) of the STI Plan. If your Separation Date, or your WARN EndDate if later, is on or after the last day of any performance period for any STI Plan before payout, you will beeligible for a payout, if any, pursuant solely to the terms of that STI Plan. Federal income tax on STI payoutwill be withheld at the flat 22% supplemental rate or at the table rate depending on other wages that arebeing paid with our separation pay. State withholdings will vary by state, but will also be withheld at thesupplemental income tax withholding rate where applicable.For additional information see the Separation Plan and FAQ atGeneral Benefit Summary Updated July 15, 2019www.sprint.com/separationThis overview is designed only to provide highlights of the benefit plans that may have impact during separation; not every provision of each plan isincluded in this summary. If there are any conflicts between this overview and the official plan documents, the plan or program documents willgovern. Plan and program documents can be found on iConnect or if you no longer have access to iConnect please call the EHL 1-800-697-6000.

General Benefit SummaryLong-Term Incentive PlanIf you were a participant in any Long-Term Incentive Plan (LTI Plan), your outstanding LTI Plan awardsDetails on the treatment of your LTI Plan equity awards follow.Stock OptionsStock options granted 2012 and prior will remain exercisable generally until 90 days after the later of:(A) your Termination Date, and (B) the end of any Separation Pay Period, but in no event longer than theoriginal term of the option.Your post-2013 stock options that are not vested as of your Termination Date will be forfeited as of thatdate, and vested options will remain exercisable generally until 90 days after your Termination Date, but inno event longer than the original term of the option.For details, consult the terms of your individual award agreement or evidences of award. To exercisestock options using Sprint’s designated broker, please contact UBS at 877-785-6985 orhttps://onesource.ubs.com/s.Restricted Stock UnitsFor additional information see the Separation Plan andResources at https: //www.sprint.com/separationGeneral Benefit Summary Updated July 15, 2019This overview is designed only to provide highlights of the benefit plans that may have impact during separation; not every provisionof each plan is included in this summary. If there are any conflicts between this overview and the official plan documents, the plan orprogram documents will govern. Plan and program documents can be found on iConnect or if you no longer have access to iConnectplease call the EHL 1-800-697-6000.

General Benefit SummaryRSUs (performance and time-based) will be pro-rated from the grant date to your Separation Date.Shares underlying the pro-rated time-based RSUs, less shares withheld for taxes, will be deliveredwithin 45 days after your Separation Date. Shares underlying the pro-rated performance-based RSUs,if any, less shares withheld for taxes, will be delivered after the applicable performance periodadjustment occurs.For Turnaround Incentive Awards (TIA) RSUs granted on or prior to Feb. 2, 2017, if the Separation Date isbefore the vesting date(s) and after Feb 26, 2018, receive on the Vesting Date a pro-rata number of theEarned Shares you would have otherwise received without such termination, based on the number ofdays you were employed during the Performance Period over the entire Performance Period.For Turnaround Incentive Awards (TIA) RSUs granted after Feb. 2, 2017, if the Separation Date is beforethe vesting date(s) and after two years following the date of grant, receive on the Vesting Date a pro- ratanumber of the Earned Shares you would have otherwise received without such termination, based on thenumber of days you were employed during the Performance Period over the entire Performance Period.Forfeiture ProvisionsIf at any time you become associated (including accepting a job offer) with, provide services to, oracquire a significant interest in, a competitor of Sprint, you will forfeit all equity awards granted underthe 1997 Long-Term Stock Incentive Program (pre-2008 awards).If you need to know whether an entity you have or intend to become affiliated with as described above isa competitor, please contact your HR representative. In addition, if you have accepted TIA RSUs youFor additional information see the Separation Plan and FAQ atGeneral Benefit Summary Updated July 15, 2019www.sprint.com/separationThis overview is designed only to provide highlights of the benefit plans that may have impact during separation; not every provision of each plan isincluded in this summary. If there are any conflicts between this overview and the official plan documents, the plan or program documents willgovern. Plan and program documents can be found on iConnect or if you no longer have access to iConnect please call the EHL 1-800-697-6000.

General Benefit Summarycontinue to be subject to the non-solicitation and non-competition provisions set forth in your Evidence ofAward.Medical/Prescription Drug/Dental/Vision/Health Care Flexible Spending AccountYour coverage in effect as of your Separation Date, or your WARN End Date if later, under the above plansand programs will continue for you and your covered dependents through the last day of the month inwhich the later of any WARN Period and your Separation Pay Period ends. Premiums for coverage will bededucted on a pre-tax basis from your Salary Separation Pay through the pay date for the pay period priorto the plan coverage end date. You will continue to earn Sprint’s Health Savings Account (HSA)contributions on a bi-weekly basis if you continue with your bi-weekly HSA contributions.After the plan coverage end date, you may elect to continue any such coverage, under the above plansand programs, through “COBRA” for a period of up to 18 months by paying the applicable premium.COBRA and other benefit information will be mailed to your home address of record approximately twoweeks after your coverage ends. Claims for eligible health care expenses incurred through your HealthCare Flexible Spending Account coverage end date are eligible for reimbursement if submitted to Sprint’sFSA Administrator up through the end of the third month after that month in which your coverage ended.After the submission deadline, you will forfeit any money remaining in your Health Care FSA.If you are rehired outside of 31 calendar days from your prior last day worked, you are treated like anew hire and your rehire benefits will become effective 30 calendar days after your rehire date- unlessyou work status is part time (20-29.99) and benefits will become effective 90 calendar days after yourrehire date. If you are rehired within 31 calendar days after your prior last day worked, your benefitscontinue.For additional information see the Separation Plan andResources at https: //www.sprint.com/separationGeneral Benefit Summary Updated July 15, 2019This overview is designed only to provide highlights of the benefit plans that may have impact during separation; not every provisionof each plan is included in this summary. If there are any conflicts between this overview and the official plan documents, the plan orprogram documents will govern. Plan and program documents can be found on iConnect or if you no longer have access to iConnectplease call the EHL 1-800-697-6000.

General Benefit SummarySupplemental Health Insurance Plans/Group LegalYour coverage for Accident, Critical Illness, Hospital Confinement Indemnity Insurance and GroupLegal, in effect as of your Separation Date, or your WARN End Date if later, will continue for you andyour covered dependents through the last day of the month in which the later of any WARN Periodand your Separation Pay Period ends. Premiums for coverage will be deducted on a post-tax basisfrom your Salary Separation Pay through the pay date for the pay period prior to the plan coverageend date.After the plan coverage end date, you may elect to continue coverage for Accident, Critical Illness andHospital Confinement Indemnity insurance by completing portability applications and paying theapplicable premium. Information will be mailed to your home address of record approximately twoweeks after your coverage ends. Coverage for Group Legal may be continued by contacting the SprintVoluntary Benefits Help Line at 888- 693-1388, option 3.Employee Assistance Program (EAP)Guidance Resources, Sprint’s Employee Assistance Program (EAP), administered by through ComPsych (https://www.guidanceresources.com/groWeb /), is available to you and your family through the endof the month in which your Separation Pay Period, or WARN Period if later, ends. The EAP may bereached toll-free at 1-888-303-3957.Dependent Care Flexible Spending AccountFor additional information see the Separation Plan and FAQ atGeneral Benefit Summary Updated July 15, 2019www.sprint.com/separationThis overview is designed only to provide highlights of the benefit plans that may have impact during separation; not every provision of each plan isincluded in this summary. If there are any conflicts between this overview and the official plan documents, the plan or program documents willgovern. Plan and program documents can be found on iConnect or if you no longer have access to iConnect please call the EHL 1-800-697-6000.

General Benefit SummaryYour coverage in effect as of your Separation Date, or your WARN End Date if later, continues throughthe last day of the month in which the later of any WARN Period and your Separation Pay Period ends.Contributions to this account will be deducted on a pre-tax basis from your Salary Separation Paythrough the pay date for the pay period prior to the plan coverage end date. However, you may changeor end them sooner if there is a change in your Provider’s charges, including as a result of a change inthe usage of your provider or if your last dependent child reaches age 13. If you wish to request achange, you must notify the Employee Help Line at 800-697-6000 by the 30th calendar day after suchevent and the change will be effective on the 30th consecutive calendar day after the date the changeis timely submitted (the end of the month of the change if dropping coverage). Claims for eligibledependent care expenses incurred through your Dependent Care Flexible Spending Account coverageend date are eligible for reimbursement if submitted to Sprint’s FSA Administrator up through the endof the third month after the month in which your coverage ended. After the submission deadline, youwill forfeit any money remaining in your Dependent Care Flexible Spending Account.Employee Life Insurance, Dependent Life Insurance and Accidental Death and DismembermentInsuranceYour coverage and payroll deductions in effect as of your Separation Date, or your WARN End Date if later,under the above plans will continue for you, and your covered dependents as applicable, through the lastday of the month in which the later of any WARN Period and your Separation Pay Period ends. Lifeinsurance coverage may be continued as an individual whole life policy. Employee Life and Dependent Lifealternately may be “ported” to a group term life policy. A notice of Continuation of Coverage form andinformation regarding these two options will be mailed to your home address of record approximately twoweeks after your coverage ends. You must mail (postmark) or fax the completed Notice of Continuation ofFor additional information see the Separation Plan andResources at https: //www.sprint.com/separationGeneral Benefit Summary Updated July 15, 2019This overview is designed only to provide highlights of the benefit plans that may have impact during separation; not every provisionof each plan is included in this summary. If there are any conflicts between this overview and the official plan documents, the plan orprogram documents will govern. Plan and program documents can be found on iConnect or if you no longer have access to iConnectplease call the EHL 1-800-697-6000.

General Benefit SummaryCoverage form to the location indicated on the form within 31 days after the date your group coverageends.Disability BenefitsAfter your Separation Date, you will no longer be covered under the Short- and Long-Term Disabilityplans. This means that you will not be eligible to receive Short- or Long-Term Disability benefits withrespect to an injury or illness beginning after your Separation Date. However, if you are eligible for ShortTerm Disability Benefits with respect to an injury or illness beginning before your Separation Date, yourSeparation Date will not occur, if at all (i.e., in certain circumstances you may become ineligible forbenefits under the Separation Plan), until after those benefits have ended. There is no option to convertdisability coverage after your Separation Date.401(k) PlanAny contributions and loan re-payments to the 401(k) Plan will continue through the payroll periodcontaining your Separation Date, or your WARN End Date if later. You may end your contributionsearlier by logging on to your account at www.netbenefits.com/sprint or calling the 401(k) Plan ServiceCenter at 800-877-4015.Following your Separation Date, or your WARN End Date if later, if you have an outstanding 401(k)loan(s), you may continue making loan payments directly to Fidelity Investments as record keeper forthe 401(k) Plan until the loan is paid in full.On your Separation Date, or your WARN End Date if later, if the value of your account is 1,000 or less, youmust take a distribution or rollover from the 401(k) Plan. If you have more than 1,000 in the 401(k) Plan asFor additional information see the Separation Plan and FAQ atGeneral Benefit Summary Updated July 15, 2019www.sprint.com/separationThis overview is designed only to provide highlights of the benefit plans that may have impact during separation; not every provision of each plan isincluded in this summary. If there are any conflicts between this overview and the official plan documents, the plan or program documents willgovern. Plan and program documents can be found on iConnect or if you no longer have access to iConnect please call the EHL 1-800-697-6000.

General Benefit Summaryof that date, your account may stay in the 401(k) Plan until you elect to take a distribution or rollover, butno later than when you reach age 70½.A quarterly fee is deducted from your account balance around the 15th of the month following the end ofthe quarter. If you take a full distribution before the final quarterly assessment for a calendar year, you willbe charged the remainder of the annual fee for that calendar year at the time of the distribution. Additionalinformation about the quarterly fee can be found in the Summary Plan Description under Fees andexpenses. If you have questions regarding your account, please contact the 401(k) Plan Service Center at800-877-4015 or visit www.netbenefits.com/sprint.Pension PlanIf you are a participant in the Sprint Retirement Pension Plan (SRPP), service for vesting and retirementprovisions continues through the later of any WARN Period and the Separation Pay Period. If you have fiveyears or more of vesting service as of that date, you are entitled to a vested benefit. If you are eligible toretire under the SRPP as of that date, Sprint Retirement Services will provide detailed informationregarding your retirement by such date. Otherwise, within four months after the later of your WARN Periodand your Separation Pay Period, Sprint Retirement Services will forward detailed information about yourbenefit under the Plan to your home address of record. Questions regarding retirement calculations andpension questions should be directed to Sprint Retirement Services at 866-333-7311.You may log on to the Sprint Retirement Services website at https://sprintretirementservices.ehr.com toobtain information and to model your retirement benefit.Deferred Compensation PlanFor additional information see the Separation Plan andResources at https: //www.sprint.com/separationGeneral Benefit Summary Updated July 15, 2019This overview is designed only to provide highlights of the benefit plans that may have impact during separation; not every provisionof each plan is included in this summary. If there are any conflicts between this overview and the official plan documents, the plan orprogram documents will govern. Plan and program documents can be found on iConnect or if you no longer have access to iConnectplease call the EHL 1-800-697-6000.

General Benefit SummaryIf you have participated and have an account balance in this Plan, your benefits will be paid out inaccordance with the Plan or your election on file, as applicable. Please contact Sprint’s record keeper, NFPExecutive Benefits, at 800-340-8151 or www.nfpexecutivebenefits.com for further information.Employee Stock Purchase Plan (ESPP)Participation in any ESPP quarterly offering will end on your Separation Date, or your WARN End Date iflater. Contributions for a quarter will be used to purchase shares only if your Separation/WARN End Dateis on or after the last business day of the quarter. Otherwise, you will be ineligible to purchase shares andyour contributions will be refunded through payroll after your Separation/WARN End Date. If you wish tocancel your participation in the current offering prior to your Separation/WARN End Date, you may visitwww.netbenefits.com/sprint and change your election percentage to 0% at least 14 days before thelast business day of the quarter. Any past contributions will still be refunded through payroll. If you havequestions regarding your account, please contact 800-877-4015 or visit www.netbenefits.com/sprint .Voluntary Payroll DeductionsVoluntary deductions (e.g., United Way, PAC) will continue through the end of the later of any WARNPeriod or the Separation Pay Period (unless you cancel them earlier), at which time they will endautomatically. To cancel voluntary deductions before that date, you must make your request bycontacting the EHL 800-697-6000 to open a ticket. The deduction will be stopped in the next availablepayroll cycle. These deductions may not be continued after they are ended.Voluntary BenefitsFor additional information see the Separation Plan and FAQ atGeneral Benefit Summary Updated July 15, 2019www.sprint.com/separationThis overview is designed only to provide highlights of the benefit plans that may have impact during separation; not every provision of each plan isincluded in this summary. If there are any conflicts between this overview and the official plan documents, the plan or program documents willgovern. Plan and program documents can be found on iConnect or if you no longer have access to iConnect please call the EHL 1-800-697-6000.

General Benefit SummaryDeductions for Voluntary Benefits (e.g., individual short - term disability, auto/home owner’s insurance,long term care, whole life, or pet insurance programs) will continue through the pay period containingyour Separation Date, or any WARN End Date if later. To set up alternative billing arrangements tocontinue coverage, contact the Sprint Voluntary Benefits Help Line at -888- 693-1388 within 30 days ofyour Separation Date, or any WARN End date, if later, and choose the desired benefit option(s).Commuter Spending AccountYour participation in the Commuter Spending Account will end on your Separation Date or your WARN Enddate if later. Any passes that have been issued to you will remain active for the benefit month that the passwas issued.Phone Plans (Employee Wireless Discount and Sprint Wireless Advantage Club)If you subscribe to Sprint service at special employee rates, you are eligible to receive these specialdiscounts through the later of any WARN Period or your Separation Pay Period. The number of active linesis frozen at your Separation Date, or your WARN End Date if later; no additional lines can be added duringyour Separation Pay/WARN Period.If you are a departing Sprint employee, please convert all lines from Employee Wireless Discounts within30 days of your termination or separation pay end date (whichever is later). Any lines not converted withinthis time frame will experience a service interruption as we take steps to convert the lines.For additional information see the Separation Plan andResources at https: //www.sprint.com/separationGeneral Benefit Summary Updated July 15, 2019This overview is designed only to provide highlights of the benefit plans that may have impact during separation; not every provisionof each plan is included in this summary. If there are any conflicts between this overview and the official plan documents, the plan orprogram documents will govern. Plan and program documents can be found on iConnect or if you no longer have access to iConnectplease call the EHL 1-800-697-6000.

General Benefit SummaryTo ensure your service is uninterrupted and that you continue to receive the best value possible, we've setup this simple conversion process for you. Use this website to transition your Employee Wireless Discountsaccount.Sprint is committed to continuing to serve your wireless needs. Please review your rate plan options if youhaven't already done so. Click here to view and download your rate plan options.If you have questions please send an email to employeephoneprograms@sprint.com or call the EHL at 1800-697-6000.Paid Time Off (PTO)Accrual of PTO hours will end on your Separation Date, or your WARN End Date if later. Any earned butunused PTO hours, including embedded hours or special accumulator hours, as of such date will bepaid on the next available payroll cycle after the last payroll period in which your Separation Date, oryour WARN End Date if later, occurs, unless otherwise required by law.NOTE: If you have overused your current year's PTO hours as of your Separation Date, or your WARNEnd Date if later, those hours will be deducted from the regular paycheck for the payroll period inwhich that date occurs at your regular hourly rate of pay, unless prohibited by state law.Education Assistance ProgramPayment will be made for courses which were approved and begun before your Termination Date,provided the courses are completed in compliance with normal Educational Assistance procedure.Reimbursement must be requested within 90 days of course completion.For additional information see the Separation Plan and FAQ atGeneral Benefit Summary Updated July 15, 2019www.sprint.com/separationThis overview is designed only to provide highlights of the benefit plans that may have impact during separation; not every provision of each plan isincluded in this summary. If there are any conflicts between this overview and the official plan documents, the plan or program documents willgovern. Plan and program documents can be found on iConnect or if you no longer have access to iConnect please call the EHL 1-800-697-6000.

General Benefit SummarySprint PropertyYou will be required to return to your manager or your manager’s delegate all Sprint property in yourpossession (laptop computer, tablet, corporate purchasing card, corporate travel card, buildingaccess badge, keys, etc.) on your Separation Date. You must finalize any reconciliation of outstandingbusiness expenses before your Separation Date.Other Employment Opportunities with SprintIf you are offered and accept another position with Sprint or other entity within its 50% controlledgroup (“Affiliate”) before your Separation Date, or your WARN End Date if later, you would not beeligible for the benefits described in this Summary, but, likewise, you will not experience any break inyour Sprint

The executed GRA must be by emailed to grareceived@sprint.com, mailed, or delivered in person and within the appropriate time frame. You may return your executed GRA on, but . Plan and program documents can be found on iConnect or if you no longer have access to iConnect please call the EHL 1-800-697-6000. have an effective GRA. In other .