Limitations on Shares to be Purchased Clause Example with 50 Variations from Business Contracts

This page contains Limitations on Shares to be Purchased clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Limitations on Shares to be Purchased. (a) Any other provision of the Plan notwithstanding, no Participant shall purchase Shares with a Fair Market Value in excess of the following limit: -5- (i) In the case of Shares purchased during an Offering Period that commenced in the current calendar year, the limit shall be equal to (A) $25,000 minus (B) the Fair Market Value of the Shares that the Participant previously purchased in the current calendar year (under this Plan and all other employee stock purchase plans of the Company or any ...parent or Subsidiary of the Company). (ii) In the case of Shares purchased during an Offering Period that commenced in the immediately preceding calendar year, the limit shall be equal to (A) $50,000 minus (B) the Fair Market Value of the Shares that the Participant previously purchased (under this Plan and all other employee stock purchase plans of the Company or any parent or Subsidiary of the Company) in the current calendar year and in the immediately preceding calendar year. For purposes of this Subsection (a), the Fair Market Value of Shares shall be determined in each case as of the beginning of the Offering Period in which such Shares are purchased. Employee stock purchase plans not described in Section 423 of the Code shall be disregarded. If a Participant is precluded by this Subsection (a) from purchasing additional Shares under the Plan, then his or her employee contributions shall automatically be discontinued and shall automatically resume at the beginning of the earliest Purchase Period that will end in the next calendar year (if he or she then is an eligible employee), provided that when the Company automatically resumes such payroll deductions, the Company must apply the rate in effect immediately prior to such suspension. (b) The Committee may, in its sole discretion, set a lower maximum number of Shares that may be purchased by any Participant during any Offering Period than that determined under Section 10(a); provided, however, in no event shall a Participant be permitted to purchase more than 2,500 Shares on any one Purchase Date or such greater or lesser number as the Committee shall determine. If a greater or lower limit is set under this Subsection (b), then all Participants will be notified of such limit prior to the commencement of the next Offering Period for which it is to be effective. (c) If the number of Shares to be purchased on a Purchase Date by all Participants exceeds the number of Shares then available for issuance under this Plan, then the Company will make a pro rata allocation of the remaining Shares in as uniform a manner as shall be reasonably practicable and as the Committee shall determine to be equitable. In such event, the Company will give notice of such reduction of the number of Shares to be purchased under a Participant's option to each Participant affected. (d) Any payroll deductions accumulated in a Participant's account that are not used to purchase Shares due to the limitations in this Section 10, and not covered by Section 9(e), shall be returned to the Participant as soon as practicable after the end of the applicable Purchase Period, without interest (except to the extent required due to local legal requirements outside the United States). View More Arrow
Found in SUTRO BIOPHARMA, INC. contract

Variations of a "Limitations on Shares to be Purchased" Clause from Business Contracts

Limitations on Shares to be Purchased. (a) Any other provision of the Plan notwithstanding, no No Participant shall be entitled to purchase Shares with a Fair Market Value in excess of the following limit: -5- (i) In the case of Shares purchased during an stock under any Offering Period at a rate which, when aggregated with such Participant's rights to purchase stock, that commenced are also outstanding in the current same calendar year, the limit shall be equal to (A) $25,000 minus (B) the Fair Market Value of the Shares that the Pa...rticipant previously purchased in the current calendar year (under this Plan and all year(s) (whether under other Offering Periods or other employee stock purchase plans of the Company or any parent or Subsidiary of the Company). (ii) In the case of Shares purchased during an Offering Period that commenced Company, its Parent and its Subsidiaries), exceeds $25,000 in the immediately preceding calendar year, the limit shall be equal to (A) $50,000 minus (B) the Fair Market Value of the Shares that the Participant previously purchased (under this Plan and all other employee stock purchase plans of the Company or any parent or Subsidiary of the Company) in the current calendar year and in the immediately preceding calendar year. For purposes of this Subsection (a), the Fair Market Value of Shares shall be Value, determined in each case as of the beginning of Offering Date, (or such other limit as may be imposed by the Offering Period Code) for each calendar year in which such Shares are purchased. Employee stock purchase plans not described Offering Period is in Section 423 effect (hereinafter the "Maximum Share Amount"). The Company may automatically suspend the payroll deductions of the Code shall be disregarded. If a any Participant is precluded by this Subsection (a) from purchasing additional Shares under the Plan, then his or her employee contributions shall automatically be discontinued and shall automatically resume at the beginning of the earliest Purchase Period that will end in the next calendar year (if he or she then is an eligible employee), as necessary to enforce such limit provided that when the Company automatically resumes such payroll deductions, the Company must apply the rate in effect immediately prior to such suspension. (b) The Committee may, in its sole discretion, set a lower maximum number of Shares that shares which may be purchased by any Participant during any Offering Period than that determined under Section 10(a); 10(a) above, which shall then be the Maximum Share Amount for subsequent Offering Periods; provided, however, in no event shall a Participant be permitted to purchase more than 2,500 One Thousand Five Hundred (1,500) Shares on during any one Purchase Date or such greater or lesser number as Period, irrespective of the Committee shall determine. Maximum Share Amount set forth in (a) and (b) hereof. If a greater or lower limit new Maximum Share Amount is set under this Subsection (b), set, then all Participants will be notified of such limit Maximum Share Amount prior to the commencement of the next Offering Period for which it is to be effective. The Maximum Share Amount shall continue to apply with respect to all succeeding Offering Periods unless revised by the Committee as set forth above. (c) If the number of Shares shares to be purchased on a Purchase Date by all Participants exceeds the number of Shares shares then available for issuance under this Plan, then the Company will make a pro rata allocation of the remaining Shares shares in as uniform a manner as shall be reasonably practicable and as the Committee shall determine to be equitable. In such event, the Company will give written notice of such reduction of the number of Shares shares to be purchased under a Participant's option to each Participant affected. (d) Any payroll deductions accumulated in a Participant's account that which are not used to purchase Shares stock due to the limitations in this Section 10, and not covered by Section 9(e), shall be 5 returned to the Participant as soon as administratively practicable after the end of the applicable Purchase Period, without interest (except to the extent required due to local legal requirements outside the United States). View More Arrow
Found in ANAPTYSBIO INC contract
Limitations on Shares to be Purchased. (a) Any other provision of the Plan notwithstanding, no No Participant shall be entitled to purchase Shares with a Fair Market Value in excess of the following limit: -5- (i) In the case of Shares purchased during an stock under any Offering Period at a rate which, when aggregated with such Participant's rights to purchase stock, that commenced are also outstanding in the current same calendar year, the limit shall be equal to (A) $25,000 minus (B) the Fair Market Value of the Shares that the Pa...rticipant previously purchased in the current calendar year (under this Plan and all year(s) (whether under other Offering Periods or other employee stock purchase plans of the Company or any parent or Subsidiary of the Company). (ii) In the case of Shares purchased during an Offering Period that commenced Company, its Parent and its Subsidiaries), exceeds $25,000 in the immediately preceding calendar year, the limit shall be equal to (A) $50,000 minus (B) the Fair Market Value of the Shares that the Participant previously purchased (under this Plan and all other employee stock purchase plans of the Company or any parent or Subsidiary of the Company) in the current calendar year and in the immediately preceding calendar year. For purposes of this Subsection (a), the Fair Market Value of Shares shall be Value, determined in each case as of the beginning of Offering Date, (or such other limit as may be imposed by the Offering Period Code) for each calendar year in which such Shares are purchased. Employee stock purchase plans not described Offering Period is in Section 423 effect (hereinafter the "Maximum Share Amount"). The Company may automatically suspend the contributions of the Code shall be disregarded. If a any Participant is precluded by this Subsection (a) from purchasing additional Shares under the Plan, then his or her employee contributions shall automatically be discontinued and shall automatically resume at the beginning of the earliest Purchase Period that will end in the next calendar year (if he or she then is an eligible employee), as necessary to enforce such limit provided that when the Company automatically resumes such payroll deductions, contributions, the Company must apply the rate in effect immediately prior to such suspension. 5 (b) The Committee may, in its sole discretion, set a lower maximum number of Shares that shares which may be purchased by any Participant during any Offering Period than that determined under Section 10(a); 10(a) above, which shall then be the Maximum Share Amount for subsequent Offering Periods; provided, however, in no event shall a Participant be permitted to purchase more than 2,500 2,000 Shares on during any one Purchase Date or such greater or lesser number as Period, irrespective of the Committee shall determine. Maximum Share Amount set forth in (a) and (b) hereof. If a greater or lower limit new Maximum Share Amount is set under this Subsection (b), set, then all Participants will be notified of such limit Maximum Share Amount prior to the commencement of the next Offering Period for which it is to be effective. The Maximum Share Amount shall continue to apply with respect to all succeeding Offering Periods unless revised by the Committee as set forth above. (c) If the number of Shares shares to be purchased on a Purchase Date by all Participants exceeds the number of Shares shares then available for issuance under this Plan, then the Company will make a pro rata allocation of the remaining Shares shares in as uniform a manner as shall be reasonably practicable and as the Committee shall determine to be equitable. In such event, the Company will give written notice of such reduction of the number of Shares shares to be purchased under a Participant's option to each Participant affected. (d) Any payroll deductions contributions accumulated in a Participant's account that which are not used to purchase Shares stock due to the limitations in this Section 10, and not covered by Section 9(e), shall be returned to the Participant as soon as administratively practicable after the end of the applicable Purchase Period, without interest (except to the extent required due to local legal requirements outside the United States). View More Arrow
Found in TRUPANION, INC. contract
Limitations on Shares to be Purchased. (a) Any other provision of the Plan notwithstanding, no No Participant shall will be entitled to purchase Shares with a Fair Market Value in excess of the following limit: -5- (i) In the case of Shares purchased during an stock under any Offering Period that commenced in the current calendar year, the limit shall be equal at a rate which, when aggregated with such Participant's rights to (A) $25,000 minus (B) the Fair Market Value of the Shares that the Participant previously purchased in the cu...rrent calendar year (under this Plan and purchase stock under all other employee stock purchase plans of a Participating Company intended to meet the Company or any parent or Subsidiary requirements of Section 423 of the Company). (ii) In the case of Shares purchased during an Offering Period Code, that commenced are also outstanding in the immediately preceding same calendar year, the limit shall be equal to (A) $50,000 minus (B) the Fair Market Value of the Shares that the Participant previously purchased (under this Plan and all year(s) (whether under other Offering Periods or other employee stock purchase plans of the Company or any parent or Subsidiary of the Company) Company, its Parent, and its Subsidiaries), exceeds $25,000 in the current calendar year and in the immediately preceding calendar year. For purposes of this Subsection (a), the Fair Market Value of Shares shall be Value, determined in each case as of the beginning of Offering Date (or such other limit as may be imposed by the Offering Period Code) for each calendar year in which such Shares are purchased. Employee stock purchase plans not described Offering Period is in Section 423 effect (the "Maximum Share Amount"). The Company may automatically suspend the payroll deductions of the Code shall be disregarded. If a any Participant is precluded by this Subsection (a) from purchasing additional Shares under the Plan, then his or her employee contributions shall automatically be discontinued and shall automatically resume at the beginning of the earliest Purchase Period that will end in the next calendar year (if he or she then is an eligible employee), as necessary to enforce such limit provided that when the Company automatically resumes such payroll deductions, the Company must apply the rate in effect immediately prior to such suspension. 5 (b) The Committee may, in its sole discretion, set a lower maximum number of Shares shares that may be purchased by any Participant during any Offering Period than that determined under Section 10(a); 10(a) above, which will then be the Maximum Share Amount for subsequent Offering Periods; provided, however, that in no event shall will a Participant be permitted to purchase more than 2,500 Shares on three thousand (3,000) shares during any one Purchase Date Period or such greater or lesser number as the Committee shall determine. may determine, irrespective of the Maximum Share Amount set forth in (a) and (b) hereof. If a greater or lower limit new Maximum Share Amount is set under this Subsection (b), set, then all Participants will be notified of such limit Maximum Share Amount prior to the commencement of the next Offering Period for which it is to be effective. The Maximum Share Amount will continue to apply with respect to all succeeding Offering Periods unless revised by the Committee as set forth above. (c) If the number of Shares shares to be purchased on a Purchase Date by all Participants exceeds the number of Shares shares then available for issuance under this Plan, then the Company will make a pro rata allocation of the remaining Shares shares in as uniform a manner as shall will be reasonably practicable and as the Committee shall will determine to be equitable. In such event, the Company will give written notice of such reduction of the number of Shares shares to be purchased under a Participant's option to each Participant affected. (d) Any payroll deductions accumulated in a Participant's account that are not used to purchase Shares stock due to the limitations in this Section 10, and that are not covered by Section 9(e), shall will be returned to the Participant as soon as administratively practicable after the end of the applicable Purchase Period, without interest (except to the extent required due to local legal requirements outside the United States). View More Arrow
Found in 2 Contracts from GRAYBUG VISION, INC.
Limitations on Shares to be Purchased. (a) Any other provision of the Plan notwithstanding, no No Participant shall be entitled to purchase Shares with a Fair Market Value in excess of the following limit: -5- (i) In the case of Shares purchased during an stock under any Offering Period at a rate which, when aggregated with such Participant's rights to purchase stock, that commenced are also outstanding in the current same calendar year, the limit shall be equal to (A) $25,000 minus (B) the Fair Market Value of the Shares that the Pa...rticipant previously purchased in the current calendar year (under this Plan and all year(s) (whether under other Offering Periods or other employee stock purchase plans of the Company or any parent or Subsidiary of the Company). (ii) In the case of Shares purchased during an Offering Period that commenced Company, its Parent and its Subsidiaries), exceeds $25,000 in the immediately preceding calendar year, the limit shall be equal to (A) $50,000 minus (B) the Fair Market Value of the Shares that the Participant previously purchased (under this Plan and all other employee stock purchase plans of the Company or any parent or Subsidiary of the Company) in the current calendar year and in the immediately preceding calendar year. For purposes of this Subsection (a), the Fair Market Value of Shares shall be Value, determined in each case as of the beginning of Offering Date, (or such other limit as may be imposed by the Offering Period Code) for each calendar year in which such Shares are purchased. Employee stock purchase plans not described Offering Period is in Section 423 effect (hereinafter the "Maximum Share Amount"). The Company may automatically suspend the payroll deductions of the Code shall be disregarded. If a any Participant is precluded by this Subsection (a) from purchasing additional Shares under the Plan, then his or her employee contributions shall automatically be discontinued and shall automatically resume at the beginning of the earliest Purchase Period that will end in the next calendar year (if he or she then is an eligible employee), as necessary to enforce such limit provided that when the Company automatically resumes such payroll deductions, the Company must apply the rate in effect immediately prior to such suspension. (b) The Committee may, in its sole discretion, set a lower maximum number of Shares that shares which may be purchased by any Participant during any Offering Period than that 5 determined under Section 10(a); 10(a) above, which shall then be the Maximum Share Amount for subsequent Offering Periods; provided, however, in no event shall a Participant be permitted to purchase more than 2,500 one thousand (1,000) Shares on during any one Purchase Date or such greater or lesser number as Period, irrespective of the Committee shall determine. Maximum Share Amount set forth in (a) and (b) hereof. If a greater or lower limit new Maximum Share Amount is set under this Subsection (b), set, then all Participants will be notified of such limit Maximum Share Amount prior to the commencement of the next Offering Period for which it is to be effective. The Maximum Share Amount shall continue to apply with respect to all succeeding Offering Periods unless revised by the Committee as set forth above. (c) If the number of Shares shares to be purchased on a Purchase Date by all Participants exceeds the number of Shares shares then available for issuance under this Plan, then the Company will make a pro rata allocation of the remaining Shares shares in as uniform a manner as shall be reasonably practicable and as the Committee shall determine to be equitable. In such event, the Company will give written notice of such reduction of the number of Shares shares to be purchased under a Participant's option to each Participant affected. (d) Any payroll deductions accumulated in a Participant's account that which are not used to purchase Shares stock due to the limitations in this Section 10, and not covered by Section 9(e), shall be returned to the Participant as soon as administratively practicable after the end of the applicable Purchase Period, without interest (except to the extent required due to local legal requirements outside the United States). View More Arrow
Found in Loxo Oncology, Inc. contract
Limitations on Shares to be Purchased. (a) Any other provision of the Plan notwithstanding, no No Participant shall be entitled to purchase Shares with a Fair Market Value in excess of the following limit: -5- (i) In the case of Shares purchased during an stock under any Offering Period at a rate which, when aggregated with such Participant's rights to purchase stock, that commenced are also outstanding in the current same calendar year, the limit shall be equal to (A) $25,000 minus (B) the Fair Market Value of the Shares that the Pa...rticipant previously purchased in the current calendar year (under this Plan and all year(s) (whether under other Offering Periods or other employee stock purchase plans of the Company or any parent or Subsidiary of the Company). (ii) In the case of Shares purchased during an Offering Period that commenced Company, its Parent and its Subsidiaries), exceeds $25,000 in the immediately preceding calendar year, the limit shall be equal to (A) $50,000 minus (B) the Fair Market Value of the Shares that the Participant previously purchased (under this Plan and all other employee stock purchase plans of the Company or any parent or Subsidiary of the Company) in the current calendar year and in the immediately preceding calendar year. For purposes of this Subsection (a), the Fair Market Value of Shares shall be Value, determined in each case as of the beginning of Offering Date, (or such other limit as may be imposed by the Offering Period Code) for each calendar year in which such Shares are purchased. Employee stock purchase plans not described Offering Period is in Section 423 effect (hereinafter the "Maximum Share Amount"). The Company may automatically suspend the payroll deductions of the Code shall be disregarded. If a any Participant is precluded by this Subsection (a) from purchasing additional Shares under the Plan, then his or her employee contributions shall automatically be discontinued and shall automatically resume at the beginning of the earliest Purchase Period that will end in the next calendar year (if he or she then is an eligible employee), as necessary to enforce such limit provided that when the Company automatically resumes such payroll deductions, the Company must apply the rate in effect immediately prior to such suspension. (b) The Committee may, in its sole discretion, set a lower maximum number of Shares that shares which may be purchased by any Participant during any Offering Period than that determined under Section 10(a); 10(a) above, which shall then be the Maximum Share Amount for subsequent Offering Periods; provided, however, in no event shall a Participant be permitted to purchase more than 2,500 two thousand (2,000) Shares on during any one Purchase Date or such greater or lesser number as Period, irrespective of the Committee shall determine. Maximum Share Amount set forth in (a) and (b) hereof. If a greater or lower limit new Maximum Share Amount is set under this Subsection (b), set, then all Participants will be notified of such limit Maximum Share Amount prior to the commencement of the next Offering Period for which it is to be effective. The Maximum Share Amount shall continue to apply with respect to all succeeding Offering Periods unless revised by the Committee as set forth above. 6 (c) If the number of Shares shares to be purchased on a Purchase Date by all Participants exceeds the number of Shares shares then available for issuance under this Plan, then the Company will make a pro rata allocation of the remaining Shares shares in as uniform a manner as shall be reasonably practicable and as the Committee shall determine to be equitable. In such event, the Company will give written notice of such reduction of the number of Shares shares to be purchased under a Participant's option to each Participant affected. (d) Any payroll deductions accumulated in a Participant's account that which are not used to purchase Shares stock due to the limitations in this Section 10, and not covered by Section 9(e), shall be returned to the Participant as soon as administratively practicable after the end of the applicable Purchase Period, without interest (except to the extent required due to local legal requirements outside the United States). View More Arrow
Found in CASTLIGHT HEALTH, INC. contract
Limitations on Shares to be Purchased. (a) Any other provision of the Plan notwithstanding, no No Participant shall be entitled to purchase Shares with a Fair Market Value in excess of the following limit: -5- (i) In the case of Shares purchased during an stock under any Offering Period at a rate which, when aggregated with such Participant's rights to purchase stock, that commenced are also outstanding in the current same calendar year, the limit shall be equal to (A) $25,000 minus (B) the Fair Market Value of the Shares that the Pa...rticipant previously purchased in the current calendar year (under this Plan and all year(s) (whether under other Offering Periods or other employee stock purchase plans of the Company or any parent or Subsidiary of the Company). (ii) In the case of Shares purchased during an Offering Period that commenced Company, its Parent and its Subsidiaries), exceeds $25,000 in the immediately preceding calendar year, the limit shall be equal to (A) $50,000 minus (B) the Fair Market Value of the Shares that the Participant previously purchased (under this Plan and all other employee stock purchase plans of the Company or any parent or Subsidiary of the Company) in the current calendar year and in the immediately preceding calendar year. For purposes of this Subsection (a), the Fair Market Value of Shares shall be Value, determined in each case as of the beginning of Offering Date, (or such other limit as may be imposed by the Offering Period Code) for each calendar year in which such Shares are purchased. Employee stock purchase plans not described Offering Period is in Section 423 effect (hereinafter the "Maximum Share Amount"). The Company may automatically suspend the payroll deductions of the Code shall be disregarded. If a any Participant is precluded by this Subsection (a) from purchasing additional Shares under the Plan, then his or her employee contributions shall automatically be discontinued and shall automatically resume at the beginning of the earliest Purchase Period that will end in the next calendar year (if he or she then is an eligible employee), as necessary to enforce such limit provided that when the Company automatically resumes such payroll deductions, the Company must apply the rate in effect immediately prior to such suspension. (b) The Committee may, in its sole discretion, set a lower maximum number of Shares that shares which may be purchased by any Participant during any Offering Period than that determined under Section 10(a); 10(a) above, which shall then be the Maximum Share Amount for subsequent Offering Periods; provided, however, in no event shall a Participant be permitted to purchase more than 2,500 1,551 Shares on during any one Purchase Date or such greater or lesser number as Period, irrespective of the Committee shall determine. Maximum Share Amount set forth in (a) and (b) hereof. If a greater or lower limit new Maximum Share Amount is set under this Subsection (b), set, then all Participants will be notified of such limit Maximum Share Amount prior to the commencement of the next Offering Period for which it is to be effective. The Maximum Share Amount shall continue to apply with respect to all succeeding Offering Periods unless revised by the Committee as set forth above. (c) If the number of Shares shares to be purchased on a Purchase Date by all Participants exceeds the number of Shares shares then available for issuance under this Plan, then the Company will make a pro rata allocation of the remaining Shares shares in as uniform a manner as shall be reasonably practicable and as the Committee shall determine to be equitable. In such event, the Company will give written notice of such reduction of the number of Shares shares to be purchased under a Participant's option to each Participant affected. (d) Any payroll deductions accumulated in a Participant's account that which are not used to purchase Shares stock due to the limitations in this Section 10, and not covered by Section 9(e), shall be returned to the Participant as soon as administratively practicable after the end of the applicable Purchase Period, without interest (except to the extent required due to local legal requirements outside the United States). View More Arrow
Found in Dermira, Inc. contract
Limitations on Shares to be Purchased. (a) Any other provision of the Plan notwithstanding, no No Participant shall be entitled to purchase Shares with a Fair Market Value in excess of the following limit: -5- (i) In the case of Shares purchased during an stock under any Offering Period at a rate which, when aggregated with such Participant's rights to purchase stock, that commenced are also outstanding in the current same calendar year, the limit shall be equal to (A) $25,000 minus (B) the Fair Market Value of the Shares that the Pa...rticipant previously purchased in the current calendar year (under this Plan and all year(s) (whether under other Offering Periods or other employee stock purchase plans of the Company or any parent or Subsidiary of the Company). (ii) In the case of Shares purchased during an Offering Period that commenced Company, its Parent and its Subsidiaries), exceeds $25,000 in the immediately preceding calendar year, the limit shall be equal to (A) $50,000 minus (B) the Fair Market Value of the Shares that the Participant previously purchased (under this Plan and all other employee stock purchase plans of the Company or any parent or Subsidiary of the Company) in the current calendar year and in the immediately preceding calendar year. For purposes of this Subsection (a), the Fair Market Value of Shares shall be Value, determined in each case as of the beginning of Offering Date, (or such other limit as may be imposed by the Offering Period Code) for each calendar year in which such Shares are purchased. Employee stock purchase plans not described Offering Period is in Section 423 effect (hereinafter the "Maximum Share Amount"). The Company may automatically suspend the payroll deductions of the Code shall be disregarded. If a any Participant is precluded by this Subsection (a) from purchasing additional Shares under the Plan, then his or her employee contributions shall automatically be discontinued and shall automatically resume at the beginning of the earliest Purchase Period that will end in the next calendar year (if he or she then is an eligible employee), as necessary to enforce such limit provided that when the Company automatically resumes such payroll deductions, the Company must apply the rate in effect immediately prior to such suspension. (b) The Committee may, in its sole discretion, set a lower maximum number of Shares that shares which may be purchased by any Participant during any Offering Period than that determined under Section 10(a); 10(a) above, which shall then be the Maximum Share Amount for subsequent Offering Periods; provided, however, in no event shall a Participant be permitted to purchase more than 2,500 nine thousand (9,000) Shares on during any one Purchase Date or such greater or lesser number as Period, irrespective of the Committee shall determine. Maximum Share Amount set forth in (a) and (b) hereof. If a greater or lower limit new Maximum Share Amount is set under this Subsection (b), set, then all Participants will be notified of such limit Maximum Share Amount prior to the commencement of the next Offering Period for which it is to be effective. The Maximum Share Amount shall continue to apply with respect to all succeeding Offering Periods unless revised by the Committee as set forth above. (c) If the number of Shares shares to be purchased on a Purchase Date by all Participants exceeds the number of Shares shares then available for issuance under this Plan, then the Company will make a pro rata allocation of the remaining Shares shares in as uniform a manner as shall be reasonably practicable and as the Committee shall determine to be equitable. In such event, the Company will give written notice of such reduction of the number of Shares shares to be purchased under a Participant's option to each Participant affected. (d) Any payroll deductions accumulated in a Participant's account that which are not used to purchase Shares stock due to the limitations in this Section 10, and not covered by Section 9(e), shall be returned to the Participant as soon as administratively practicable after the end of the applicable Purchase Period, without interest (except to the extent required due to local legal requirements outside the United States). View More Arrow
Found in 2 Contracts from Dermira, Inc.
Limitations on Shares to be Purchased. (a) Any other provision of the Plan notwithstanding, no No Participant shall be entitled to purchase Shares with a Fair Market Value in excess of the following limit: -5- (i) In the case of Shares purchased during an stock under any Offering Period that commenced in the current calendar year, the limit shall be equal at a rate which, when aggregated with such Participant's rights to (A) $25,000 minus (B) the Fair Market Value of the Shares that the Participant previously purchased in the current... calendar year (under this Plan and purchase stock under all other employee stock purchase plans of a Participating Company intended to meet the Company or any parent or Subsidiary requirements of Section 423 of the Company). (ii) In the case of Shares purchased during an Offering Period Code that commenced are also outstanding in the immediately preceding same calendar year, the limit shall be equal to (A) $50,000 minus (B) the Fair Market Value of the Shares that the Participant previously purchased (under this Plan and all year(s) (whether under other Offering Periods or other employee stock purchase plans of the Company or any parent or Subsidiary of the Company) Company, its Parent and its Subsidiaries), exceeds $25,000 in the current calendar year and in the immediately preceding calendar year. For purposes of this Subsection (a), the Fair Market Value of Shares shall be Value, determined in each case as of the beginning of Offering Date (or such other limit as may be imposed by the Offering Period Code) for each calendar year in which such Shares are purchased. Employee stock purchase plans not described Offering Period is in Section 423 effect (hereinafter the "Maximum Share Amount"). The Company may automatically suspend the payroll deductions of the Code shall be disregarded. If a any Participant is precluded by this Subsection (a) from purchasing additional Shares under the Plan, then his or her employee contributions shall automatically be discontinued and shall automatically resume at the beginning of the earliest Purchase Period that will end in the next calendar year (if he or she then is an eligible employee), as necessary to enforce such limit provided that when the Company automatically resumes such payroll deductions, the Company must apply the rate in effect immediately prior to such suspension. (b) The Committee may, in its sole discretion, set a lower maximum number of Shares that shares which may be purchased by any Participant during any Offering Period than that determined under Section 10(a); 10(a) above, which shall then be the Maximum Share Amount for subsequent Offering Periods; provided, however, in no event shall a Participant be permitted to purchase more than 2,500 Two Thousand One Hundred (2,100) Shares on during any one Purchase Date Period or such greater or lesser number as the Committee shall determine. may determine, irrespective of the Maximum Share Amount set forth in (a) and (b) hereof. If a greater or lower limit new Maximum Share Amount is set under this Subsection (b), set, then all Participants will be notified of such limit Maximum Share Amount prior to the commencement of the next Offering Period for which it is to be effective. The Maximum Share Amount shall continue to apply with respect to all succeeding Offering Periods unless revised by the Committee as set forth above. (c) If the number of Shares shares to be purchased on a Purchase Date by all Participants exceeds the number of Shares shares then available for issuance under this Plan, then the Company will make a pro rata allocation of the remaining Shares shares in as uniform a manner as shall be reasonably practicable and as the Committee shall determine to be equitable. In such event, the Company will give written notice of such reduction of the number of Shares shares to be purchased under a Participant's option to each Participant affected. 5 (d) Any payroll deductions accumulated in a Participant's account that which are not used to purchase Shares stock due to the limitations in this Section 10, and not covered by Section 9(e), shall be returned to the Participant as soon as administratively practicable after the end of the applicable Purchase Period, without interest (except to the extent required due to local legal requirements outside the United States). View More Arrow
Found in Audentes Therapeutics, Inc. contract
Limitations on Shares to be Purchased. (a) Any other provision of the Plan notwithstanding, no No Participant shall be entitled to purchase Shares with a Fair Market Value in excess of the following limit: -5- (i) In the case of Shares purchased during an stock under any Offering Period that commenced in the current calendar year, the limit shall be equal at a rate which, when aggregated with such Participant's rights to (A) $25,000 minus (B) the Fair Market Value of the Shares that the Participant previously purchased in the current... calendar year (under this Plan and purchase stock under all other employee stock purchase plans of a Participating Company intended to meet the Company or any parent or Subsidiary requirements of Section 423 of the Company). (ii) In the case of Shares purchased during an Offering Period Code that commenced are also outstanding in the immediately preceding same calendar year, the limit shall be equal to (A) $50,000 minus (B) the Fair Market Value of the Shares that the Participant previously purchased (under this Plan and all year(s) (whether under other Offering Periods or other employee stock purchase plans of the Company or any parent or Subsidiary of the Company) Company, its Parent and its Subsidiaries), exceeds $25,000 in the current calendar year and in the immediately preceding calendar year. For purposes of this Subsection (a), the Fair Market Value of Shares shall be Value, determined in each case as of the beginning of Offering Date, (or such other limit as may be imposed by the Offering Period Code) for each calendar year in which such Shares are purchased. Employee stock purchase plans not described Offering Period is in Section 423 effect (hereinafter the "Maximum Share Amount"). The Company may automatically suspend the payroll deductions of the Code shall be disregarded. If a any Participant is precluded by this Subsection (a) from purchasing additional Shares under the Plan, then his or her employee contributions shall automatically be discontinued and shall automatically resume at the beginning of the earliest Purchase Period that will end in the next calendar year (if he or she then is an eligible employee), as necessary to enforce such limit provided that when the Company automatically resumes such payroll deductions, the Company must apply the rate in effect immediately prior to such suspension. (b) The Committee may, in its sole discretion, set a lower maximum number of Shares that shares which may be purchased by any Participant during any Offering Period than that 6 determined under Section 10(a); 10(a) above, which shall then be the Maximum Share Amount for subsequent Offering Periods; provided, however, in no event shall a Participant be permitted to purchase more than 2,500 Two Thousand Five Hundred (2,500) Shares on during any one Purchase Date Period or such greater or lesser number as the Committee shall determine. may determine, irrespective of the Maximum Share Amount set forth in (a) and (b) hereof. If a greater or lower limit new Maximum Share Amount is set under this Subsection (b), set, then all Participants will be notified of such limit Maximum Share Amount prior to the commencement of the next Offering Period for which it is to be effective. The Maximum Share Amount shall continue to apply with respect to all succeeding Offering Periods unless revised by the Committee as set forth above. (c) If the number of Shares shares to be purchased on a Purchase Date by all Participants exceeds the number of Shares shares then available for issuance under this Plan, then the Company will make a pro rata allocation of the remaining Shares shares in as uniform a manner as shall be reasonably practicable and as the Committee shall determine to be equitable. In such event, the Company will give written notice of such reduction of the number of Shares shares to be purchased under a Participant's option to each Participant affected. (d) Any payroll deductions accumulated in a Participant's account that which are not used to purchase Shares stock due to the limitations in this Section 10, and not covered by Section 9(e), shall be returned to the Participant as soon as administratively practicable after the end of the applicable Purchase Period, without interest (except to the extent required due to local legal requirements outside the United States). View More Arrow
Found in Alteryx, Inc. contract
Limitations on Shares to be Purchased. (a) Any other provision of the Plan notwithstanding, no Participant shall purchase Shares Common Stock with a Fair Market Value in excess of the following limit: -5- (i) In the case of Shares Common Stock purchased during an Offering Period that commenced in the current calendar year, the limit shall be equal to (A) $25,000 minus (B) the Fair Market Value of the Shares Common Stock that the Participant previously purchased in the current calendar year (under this Plan and all other employee stoc...k purchase plans of the Company or any parent Parent or Subsidiary of the Company). Subsidiary). (ii) In the case of Shares Common Stock purchased during an Offering Period that commenced in the immediately preceding calendar year, the limit shall be equal to (A) $50,000 minus (B) the Fair Market Value of the Shares Common Stock that the Participant previously purchased (under this Plan and all other employee stock purchase plans of the Company or any parent Parent or Subsidiary of the Company) Subsidiary) in the current calendar year and in the immediately preceding calendar year. For purposes of this Subsection (a), the Fair Market Value of Shares Common Stock shall be determined in each case as of the beginning of the Offering Period in which such Shares are Common Stock is purchased. Employee stock purchase plans not described in Section 423 of the Code shall be disregarded. If a Participant is precluded by this Subsection (a) from purchasing additional Shares Common Stock under the Plan, then his or her employee contributions Contributions shall automatically be discontinued and shall automatically resume at the beginning of the earliest Purchase Period that will end in the next calendar year (if he or she then is an eligible employee), Employee), provided that when the Company automatically resumes such payroll deductions, Contributions, the Company must apply the rate in effect immediately prior to such suspension. (b) The Committee may, in its sole discretion, set a lower maximum number of Shares that may be purchased by any Participant during any Offering Period than that determined under Section 10(a); provided, however, in In no event shall a Participant be permitted to purchase more than 2,500 Shares on any one Purchase Date or such greater or lesser number as the Committee shall determine. If a greater or lower limit is set under this Subsection (b), then all Participants will be notified of such limit prior to the commencement of the next Offering Period for which it is to be effective. (c) If the number of Shares to be purchased on a Purchase Date by all Participants exceeds the number of Shares then available for issuance under this Plan, then the Company will make a pro rata allocation of the remaining Shares in as uniform a manner as shall be reasonably practicable and as the Committee shall determine to be equitable. In such event, the Company will give notice of such reduction of the number of Shares to be purchased under a Participant's option to each Participant affected. (d) Any payroll deductions Contributions accumulated in a Participant's account that which are not used to purchase Shares due to the limitations in this Section 10, and not covered by Section 9(e), shall be returned to the Participant as soon as practicable after the end of the applicable Purchase Period, without interest (except to the extent required due to local legal requirements outside the United States). 5 ​ 11. WITHDRAWAL. (a) Each Participant may withdraw from an Offering Period under this Plan pursuant to a method specified for such purpose by the Company. Such withdrawal may be elected at any time prior to the end of an Offering Period, or such other time period as specified by the Committee. (b) Upon withdrawal from this Plan, the accumulated Contributions shall be returned to the withdrawn Participant, without interest (except to the extent required due to local legal requirements outside the United States), and his or her interest in this Plan shall terminate. In the event a Participant voluntarily elects to withdraw from this Plan, he or she may not resume his or her participation in this Plan during the same Offering Period, but he or she may participate in any Offering Period under this Plan which commences on a date subsequent to such withdrawal by filing a new authorization for Contributions in the same manner as set forth in Section 6 above for initial participation in this Plan. (c) To the extent applicable, if the Fair Market Value on the Offering Date of the current Offering Period in which a participant is enrolled is higher than the Fair Market Value on the Offering Date of any subsequent Offering Period, the Company will, if determined by the Committee, automatically enroll such participant in the subsequent Offering Period. Any funds accumulated in a Participant's account prior to the Offering Date of such subsequent Offering Period will be applied to the purchase of Shares on the Purchase Date immediately prior to the Offering Date of such subsequent Offering Period, if any. View More Arrow
Found in 890 5th Avenue Partners, Inc. contract