Grouped Into 1 Collection of Similar Clauses From Business Contracts
This page contains Participation Withdrawal Termination clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Participation Withdrawal Termination. (a) An Eligible Employee may elect to participate in an Offering and authorize payroll deductions as the means of making Contributions by completing and delivering to the Company, within the time specified in the Offering, an enrollment form provided by the Company. The enrollment form will specify the amount of Contributions not to exceed the maximum amount specified by the Board. Each Participant's Contributions will be credited to a bookkeeping account for such Participant under the Plan and ...will be deposited with the general funds of the Company except where applicable law requires that Contributions be deposited with a third party. If permitted in the Offering, a Participant may begin such Contributions with the first practicable payroll occurring on or after the Offering Date (or, in the case of a payroll date that occurs after the end of the prior Offering but before the Offering Date of the next new Offering, Contributions from such payroll will be included in the new Offering). If permitted in the Offering, a Participant may thereafter reduce (including to zero) or increase his or her Contributions. If specifically provided in the Offering, in addition to or instead of making Contributions by payroll deductions, a Participant may make Contributions through the payment by cash or check prior to a Purchase Date. (b) During an Offering, a Participant may cease making Contributions and withdraw from the Offering by delivering to the Company a withdrawal form provided by the Company. The Company may impose a deadline before a Purchase Date for withdrawing. Upon such withdrawal, such Participant's Purchase Right in that Offering will immediately terminate and the Company will distribute as soon as practicable to such Participant all of his or her accumulated but unused Contributions and such Participant's Purchase Right in that Offering shall thereupon terminate. A Participant's withdrawal from that Offering will have no effect upon his or her eligibility to participate in any other Offerings under the Plan, but such Participant will be required to deliver a new enrollment form to participate in subsequent Offerings. (c) Unless otherwise required by applicable law, Purchase Rights granted pursuant to any Offering under the Plan will terminate immediately if the Participant either (i) is no longer an Employee for any reason or for no reason (subject to any post-employment participation period required by law) or (ii) is otherwise no longer eligible to participate. The Company will distribute to such individual as soon as practicable all of his or her accumulated but unused Contributions. (d) During a Participant's lifetime, Purchase Rights will be exercisable only by such Participant. Purchase Rights are not transferable by a Participant, except by will, by the laws of descent and distribution, or, if permitted by the Company, by a beneficiary designation as described in Section 10. (e) Unless otherwise specified in the Offering or required by applicable law, the Company will have no obligation to pay interest on Contributions.View More
Participation Withdrawal Termination. (a) An Eligible Employee may elect to participate in an Offering and authorize payroll deductions as the means of making Contributions by completing and delivering to the Company, Company or Company Designee, within the time specified in the Offering, an enrollment form provided by the Company. Company or Company Designee. The enrollment form will specify the amount of Contributions not to exceed the maximum amount specified by the Board. Each Participant's Contributions will be credited to a bo...okkeeping account for such Participant under the Plan and will be deposited with the general funds of the Company except where applicable law requires laws or regulations require that Contributions be deposited with a third party. Company Designee or otherwise segregated. If permitted in the Offering, a Participant may begin such Contributions with the first practicable payroll occurring on or after the Offering Date (or, in the case of a payroll date that occurs after the end of the prior Offering but before the Offering Date of the next new Offering, Contributions from such payroll will be included in the new Offering). If permitted in the Offering, a Participant may thereafter reduce (including to zero) or increase his or her Contributions. If required under applicable laws or regulations or if specifically provided in the Offering, in addition to or instead of making Contributions by payroll deductions, a Participant may make Contributions through the a payment by cash cash, check, or check wire transfer prior to a Purchase Date. Date, in a manner directed by the Company or a Company Designee. (b) During an Offering, a Participant may cease making Contributions and withdraw from the Offering by delivering to the Company or a Company Designee a withdrawal form provided by the Company. The Company may impose a deadline before a Purchase Date for withdrawing. Upon such withdrawal, such Participant's Purchase Right in that Offering will immediately terminate and the Company will distribute as soon as practicable to such Participant all of his or her accumulated but unused Contributions and such Participant's Purchase Right in that Offering shall thereupon terminate. A Participant's withdrawal from that Offering will have no effect upon his or her eligibility to participate in any other Offerings under the Plan, but such Participant will be required to deliver a new enrollment form to participate in subsequent Offerings. (c) Unless otherwise required by applicable law, Purchase Rights granted pursuant to any Offering under the Plan will terminate immediately if the Participant either (i) is no longer an Employee for any reason or for no reason (subject to any post-employment participation period required by law) or (ii) is otherwise no longer eligible to participate. The In this regard, unless otherwise determined by the Board, a Participant whose employment transfers or whose employment terminates with an immediate rehire (with no break in service) by or between the Company and a Designated Company will not be treated as having terminated employment for purposes of participating in the Plan or an Offering; however, if a Participant transfers from an Offering under the 423 Component to an Offering under the Non-423 Component, the exercise of the Participant's Purchase Right will be qualified under the 423 Component only to the extent such exercise complies with Section 423 of the Code. If a Participant transfers from an Offering under the Non-423 Component to an Offering under the 423 Component, the exercise of the Purchase Right will remain non-qualified under the Non-423 Component. In the event that a Participant's Purchase Right is terminated under the Plan, the Company will distribute to such individual as soon as practicable to such individual all of his or her accumulated but unused Contributions. (d) During a Participant's lifetime, Purchase Rights will be exercisable only by such Participant. Purchase Rights are not transferable by a Participant, except by will, by the laws of descent and distribution, or, if permitted by the Company, by a beneficiary designation as described in Section 10. (e) Unless otherwise specified in the Offering or required by applicable law, the Company will have no obligation to pay interest on Contributions. View More
Participation Withdrawal Termination. (a) An Eligible Employee may elect to participate in an Offering and authorize payroll deductions as the means of making Contributions by completing and delivering to the Company, within the time specified in by the Offering, Company, an enrollment form provided by the Company. Company or any third party designated by the Company (each, a "Company Designee"). The enrollment form will specify the amount of Contributions not to exceed the maximum amount specified by the Board. Each Participant's C...ontributions will be credited to a bookkeeping account for such Participant under the Plan and will be deposited with the general funds of the Company except where applicable law requires laws or regulations require that Contributions be deposited with a third party. Company Designee or otherwise be segregated. (b) If permitted in the Offering, a Participant may begin such Contributions with the first practicable payroll or payment date occurring on or after the Offering Date (or, in the case of a payroll date or payment date that occurs after the end of the prior Offering but before the Offering Date of the next new Offering, Contributions from such payroll or payment will be included in the new Offering). Offering) or on such other date as set forth in the Offering. If permitted in the Offering, a Participant may thereafter reduce (including to zero) or increase his or her Contributions. If required under applicable laws or regulations or if specifically provided in the Offering, in addition to or instead of making Contributions by payroll deductions, a Participant may make Contributions through the a payment by cash cash, check, or check wire transfer prior to a Purchase Date. (b) Date, in a manner directed by the Company or a Company Designee. (c) During an Offering, a Participant may cease making Contributions and withdraw from the Offering by delivering to the Company or a Company Designee a withdrawal form provided by the Company. The Company may impose a deadline before a Purchase Date for withdrawing. Upon On such withdrawal, such Participant's Purchase Right in that Offering will immediately terminate and the Company will distribute as soon as practicable to such Participant all of his or her accumulated but unused Contributions without interest and such Participant's Purchase Right in that Offering shall thereupon will then terminate. A Participant's withdrawal from that Offering will have no effect upon on his or her eligibility to participate in any other Offerings under the Plan, but such Participant will be required to deliver a new enrollment form to participate in subsequent Offerings. (c) Unless otherwise required by applicable law, (d) Purchase Rights granted pursuant to any Offering under the Plan will terminate immediately if the Participant either (i) is no longer an Eligible Employee or Eligible Service Provider for any reason or for no reason (subject to any post-employment participation period required by law) reason, or (ii) is otherwise no longer eligible to participate. The Company shall have the exclusive discretion to determine when Participant is no longer actively -6- providing services and the date of the termination of employment or service for purposes of the Plan. As soon as practicable, the Company will distribute to such individual as soon as practicable all of his or her accumulated but unused Contributions. (d) Contributions without interest. (e) During a Participant's lifetime, Purchase Rights will be exercisable only by such Participant. Purchase Rights are not transferable by a Participant, except by will, by the laws of descent and distribution, or, if permitted by the Company, by a beneficiary designation as described in Section 10. (e) (f) Unless otherwise specified in the Offering or required by applicable law, the Company will have no obligation to pay interest on Contributions. View More
Participation Withdrawal Termination. (a) An Eligible Employee eligible employee may elect become a participant in the Plan pursuant to participate in an Offering and authorize payroll deductions as the means of making Contributions by completing and delivering a participation agreement to the Company, Company within the time specified in the Offering, an enrollment in such form provided by as the Company. The enrollment form will specify the amount Company provides. Each such agreement shall authorize payroll deductions of Contribu...tions not up to exceed the maximum amount percentage specified by the Board. Each Participant's Contributions will Board or the Committee of such employee's Earnings during the Offering. "Earnings" is defined as the total compensation paid to an employee including all salary, wages (including amounts thereof elected to be deferred by the employee, that would otherwise have been paid, under any arrangement established by the Company that is intended to comply with Section 125, Section 40l(k), Section 402(h) or Section 403(b) of the Code or that provides non-qualified deferred compensation), which shall include overtime pay, commissions, bonuses and other remuneration paid directly to the employee, but shall exclude profit sharing, the cost of employee benefits paid for by the Company or an Affiliate, education or tuition reimbursements, imputed income arising under any group insurance or benefit program, traveling expenses, business and moving expense reimbursements, income received in connection with stock awards, contributions made by the Company or an Affiliate under any employee benefit plan, and similar items of compensation, as determined by the Board or the Committee. The payroll deductions made for each participant shall be credited to a bookkeeping an account for such Participant participant under the Plan and will shall be deposited with the general funds of the Company except where applicable law requires that Contributions be deposited with a third party. If permitted in the Offering, a Participant Company. A participant may begin such Contributions with the first practicable payroll occurring on or after the Offering Date (or, in the case of a payroll date that occurs after the end of the prior Offering but before the Offering Date of the next new Offering, Contributions from such payroll will be included in the new Offering). If permitted in the Offering, a Participant may thereafter reduce (including to zero) or increase such payroll deductions, and an eligible employee may begin such payroll deductions, after the beginning of any Offering only as provided for in the Offering. A participant may make additional payments into his or her Contributions. If account only if specifically provided for in the Offering, in addition to or instead of making Contributions by payroll deductions, a Participant may make Contributions through Offering and only if the payment by cash or check prior to a Purchase Date. participant has not had the maximum permitted amount withheld during the Offering. (b) During At any time during an Offering, a Participant participant may cease making Contributions terminate his or her payroll deductions under the Plan and withdraw from the Offering by delivering to the Company a notice of withdrawal in such form as the Company provides. Such withdrawal may be elected at any time prior to the end of the Offering except as provided by the Company. The Company may impose a deadline before a Purchase Date for withdrawing. Board or the Committee in the Offering. Upon such withdrawal, such Participant's Purchase Right in that withdrawal from the Offering will immediately terminate and by a participant, the Company will shall distribute as soon as practicable to such Participant participant all of his or her accumulated but unused Contributions payroll deductions (reduced to the extent, if any, such deductions have been used to acquire stock for the participant) under the Offering, without interest, and such Participant's Purchase Right participant's interest in that Offering shall thereupon terminate. be automatically terminated. A Participant's participant's withdrawal from that an Offering will have no effect upon his such participant's eligibility to re-enroll in the Offering or her eligibility to participate in any other Offerings under the Plan, Plan but such Participant participant will be required to deliver a new enrollment form participation agreement in order to participate in subsequent Offerings. Offerings under the Plan. (c) Unless otherwise required by applicable law, Purchase Rights granted pursuant to any Offering under the Plan will shall terminate immediately if upon cessation of any participating employee's employment with the Participant either (i) is no longer an Employee Company and any designated Affiliate, for any reason or for no reason (subject to any post-employment participation period required by law) or (ii) is otherwise no longer eligible to participate. The reason, and the Company will shall distribute to such individual as soon as practicable terminated employee all of his or her accumulated but unused Contributions. (d) During a Participant's lifetime, Purchase Rights will be exercisable only by payroll deductions (reduced to the extent, if any, such Participant. Purchase Rights are not transferable by a Participant, except by will, by deductions have been used to acquire stock for the laws of descent and distribution, or, if permitted by terminated employee), under the Company, by a beneficiary designation as described in Section 10. (e) Unless otherwise specified in the Offering or required by applicable law, the Company will have no obligation to pay interest on Contributions. Offering, without interest. View More
