SECTION 10. DOLLAR LIMITATIONS ON STOCK PURCHASES.
Notwithstanding anything to the contrary in this Plan, the maximum amount that a Participant may use to purchase shares of Stock under this Plan in any
calendar year is U.S. $25,000.
SECTION 11. RIGHTS NOT TRANSFERABLE.
Neither payroll deductions credited to a Participants Plan Account nor any rights to receive shares of Stock under the Plan may be assigned, transferred,
pledged or otherwise disposed of in any way (other than by will, the laws of descent and distribution or as provided in Section 17 hereof) by the Participant. Any such attempt at assignment, transfer, pledge or other disposition shall be
without effect.
SECTION 12. NO RIGHTS AS AN EMPLOYEE.
Nothing in the Plan or in any right granted under the Plan shall confer upon the Participant any right to receive any benefits in the future under this Plan,
to continue in the employ of a Participating Employer, to be an Eligible Employee for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Participating Companies or of the Participant, which rights
are hereby expressly reserved by each, to terminate the Participants employment at any time and for any reason, with or without cause.
SECTION
13. NO RIGHTS AS A STOCKHOLDER.
A Participant shall have no rights as a stockholder with respect to any shares of Stock that he or she may have a
right to purchase under the Plan until such shares have been purchased on the applicable Purchase Date.
SECTION 14. NOTICES.
All notices or other communications by a Participant to the Company under or in connection with the Plan shall be in writing and shall be deemed to have been
duly given when received in the form and manner specified by the Company at the location, or by the person, designated by the Company for the receipt thereof.
SECTION 15. COMPUTATIONAL ERRORS.
In the event
mathematical, accounting, or similar errors are made in maintaining Plan Accounts, the Committee may make such equitable adjustments as it deems appropriate to correct such errors.
SECTION 16. AMENDMENTS; TERMINATION OF PLAN.
This Plan
shall be effective upon approval of the stockholders of the Company and shall continue until terminated by the Board. The Board may at any time suspend or terminate the Plan. The Company may, by written resolution of the Board or the Committee, at
any time and from time to time, amend the Plan in whole or in part; provided, however, that to the extent stockholder approval of such amendment is required under applicable law or the rules of any exchange on which the Stock is then traded, such
amendment shall be contingent upon obtaining such stockholder approval.
SECTION 17. DESIGNATION OF BENEFICIARY.
(a) |
Designation. A Participant may file a designation of a beneficiary on a form provided by the Company who
is to receive the cash, if any, that remains allocated to the Participants Plan Account in the event of such Participants death. Such designation of beneficiary may be changed by the Participant at any time by filing a new beneficiary
designation on a form provided by the Company. |
(b) |
No Designation. In the event of the death of a Participant in the absence of a beneficiary validly
designated under the Plan who is living at the time of such Participants death, the Company shall deliver such cash to the executor or administrator of the estate of the Participant, or if no such executor or administrator has been appointed
(to the knowledge of the Company), the Company, in its sole discretion, may deliver such cash to the spouse or to any one or more dependents or relatives of the Participant, or if no spouse, dependent or relative is known to the Company or then
surviving, then to such other person as the Company may designate. |