Withdrawal Termination of Employment Clause Example with 16 Variations from Business Contracts
This page contains Withdrawal Termination of Employment 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.
Withdrawal Termination of Employment. (a) A Participant may either: (i) withdraw all but not less than all the payroll deductions credited to the Participant's account and not yet used to exercise the Participant's option under the Plan; or (ii) terminate future payroll deductions, but allow accumulated payroll deductions to be used to exercise the Participant's option under the Plan at any time by giving notice to the Company (using such form or method (including electronic forms) as the Administrator may designate from time to tim...e). If the Participant elects withdrawal alternative (i) described above, all of the Participant's payroll deductions credited to the Participant's account will be paid to such Participant as soon as administratively practicable after receipt of notice of withdrawal, such Participant's option for the Offer Period will be automatically terminated, and no further payroll deductions for the purchase of shares will be made during the Offer Period. If the Participant elects withdrawal alternative (ii) described above, no further payroll deductions for the purchase of shares will be made during the Offer Period, all of the Participant's payroll deductions credited to the Participant's account will be applied to the exercise of the Participant's option on the next Exercise Date (subject to Sections 3(b), 6, 7 and 12), and after such Exercise Date, such Participant's option for the Offer Period will be automatically terminated and all remaining accumulated payroll deduction amounts shall be returned to the Participant. If a Participant withdraws from an Offer Period, payroll deductions will not resume at the beginning of the succeeding Offer Period unless the Participant enrolls in such succeeding Offer Period. 5 (b) Upon termination of a Participant's employment relationship (as described in Section 2(k)) prior to the next scheduled Exercise Date, the payroll deductions credited to such Participant's account during the Offer Period but not yet used to exercise the option will be returned to such Participant or, in the case of his/her death, to the person or persons entitled thereto under Section 14, and such Participant's option will be automatically terminated without exercise of any portion of such option.View More
Variations of a "Withdrawal Termination of Employment" Clause from Business Contracts
Withdrawal Termination of Employment. (a) Withdrawal. A Participant may either: (i) withdraw all but not less than all the payroll deductions credited to the Participant's account and not yet used to exercise the Participant's option under the Plan; or (ii) terminate future payroll deductions, but allow accumulated payroll deductions to be used to exercise the Participant's option under from the Plan at any time after the Company's registration statement on Form S-8 with respect to the Plan is effective by giving written notice to t...he Company (using such form or method (including electronic forms) Company. Payroll deductions, if any have been authorized, shall cease as the Administrator may designate from time to time). If the Participant elects withdrawal alternative (i) described above, all soon as administratively practicable after receipt of the Participant's payroll deductions notice of withdrawal, and, subject to administrative practicability, no further purchases shall be made for the Participant's account. All Plan Contributions credited to the Participant's account account, if any, and not yet invested in Common Stock, will be paid to such the Participant as soon as administratively practicable after receipt of the Participant's notice of withdrawal, such withdrawal. The Participant's option for unexercised options to purchase shares pursuant to the Offer Plan automatically will be terminated. Payroll deductions will not resume on behalf of a Participant who has withdrawn from the Plan (a "Former Participant") unless the Former Participant enrolls in a subsequent Offering Period in accordance with Section 5(b). (b) Effect of Withdrawal on Subsequent Participation. A Participant's withdrawal from an Offering Period will be automatically terminated, and no further payroll deductions for the purchase of shares will be made during the Offer Period. If the Participant elects withdrawal alternative (ii) described above, no further payroll deductions for the purchase of shares will be made during the Offer Period, all of not have any effect upon the Participant's payroll deductions eligibility to participate in succeeding Offering Periods or in any similar plan which may hereafter be adopted by the Company. (c) Termination of Employment. Upon termination of a Participant's Continuous Status as an Employee prior to any Exercise Date for any reason, including retirement or death, the Plan Contributions credited to the Participant's account and not yet invested in Common Stock will be applied to the exercise of the Participant's option on the next Exercise Date (subject to Sections 3(b), 6, 7 and 12), and after such Exercise Date, such Participant's option for the Offer Period will be automatically terminated and all remaining accumulated payroll deduction amounts shall be returned to the Participant. If a Participant withdraws from an Offer Period, payroll deductions will not resume at the beginning of the succeeding Offer Period unless the Participant enrolls in such succeeding Offer Period. 5 (b) Upon termination of a Participant's employment relationship (as described in Section 2(k)) prior to the next scheduled Exercise Date, the payroll deductions credited to such Participant's account during the Offer Period but not yet used to exercise the option will be returned to such Participant or, in the case of his/her death, to the person or persons entitled thereto under Participant's beneficiary as determined pursuant to Section 14, 11, and such the Participant's option to purchase shares under the Plan will be automatically terminated without exercise of any portion of such option. terminate. View More
Withdrawal Termination of Employment. (a) A Participant participant may either: (i) withdraw all but not less than all the payroll deductions credited to the Participant's his or her account and not yet used to exercise the Participant's option under the Plan; his or (ii) terminate future payroll deductions, but allow accumulated payroll deductions to be used to exercise the Participant's her option under the Plan at any time prior to the last business day of an Offering Period (or such earlier date established by the Committee in i...ts discretion) by giving written notice to the Company (using such or applicable Designated Subsidiary in the form or method (including electronic forms) as the Administrator may designate from time of Exhibit B to time). If the Participant elects withdrawal alternative (i) described above, all this Plan. All of the Participant's participant's payroll deductions credited to the Participant's his or her account will be paid to such Participant as soon as administratively practicable participant promptly after receipt of notice of withdrawal, withdrawal and such Participant's participant's option for the Offer Offering Period will be automatically terminated, and no further payroll deductions for the purchase of shares will be made during the Offer Offering Period. If a participant withdraws from the Participant elects withdrawal alternative (ii) described above, no further payroll deductions Plan during an Offering Period, he or she may not resume participation until the next Offering Period. He or she may resume participation for the purchase of shares will be made during the Offer Period, all of the Participant's payroll deductions credited any other Offering Period by delivering to the Participant's account will be applied to the exercise of the Participant's option on the next Exercise Date (subject to Sections 3(b), 6, 7 and 12), and after such Exercise Date, such Participant's option for the Offer Period will be automatically terminated and all remaining accumulated payroll deduction amounts shall be returned to the Participant. If Company or applicable Designated Subsidiary a Participant withdraws from an Offer Period, payroll deductions will not resume new subscription agreement at the beginning of the succeeding Offer Period unless the Participant enrolls in such succeeding Offer Period. 5 (b) Upon termination of a Participant's employment relationship (as described in Section 2(k)) least fifteen (15) days prior to the next scheduled Exercise Date, Enrollment Date for such Offering Period. (b) Upon a participant's ceasing to be an Associate for any reason, he or she will be deemed to have elected to withdraw from the Plan and the payroll deductions credited to such Participant's participant's account during the Offer Offering Period but not yet used to exercise the option will be returned to such Participant participant or, in the case of his/her his or her death, to the person or persons entitled thereto under Section 14, 14 hereof, and such Participant's participant's option will be automatically terminated without exercise of terminated. 5 (c) A participant's withdrawal from an Offering Period will not have any portion of such option. effect upon his or her eligibility to participant in any similar plan which may hereafter be adopted by the Company. View More
Withdrawal Termination of Employment. (a) A Participant may either: (i) withdraw all but not less than all from the payroll deductions Plan at any time by giving written notice to the Company. All of the Plan Contributions credited to the Participant's account and not yet used to exercise the Participant's option under the Plan; or (ii) terminate future payroll deductions, but allow accumulated payroll deductions to be used to exercise the Participant's option under the Plan at any time by giving notice to the Company (using such fo...rm or method (including electronic forms) as the Administrator may designate from time to time). If the Participant elects withdrawal alternative (i) described above, all of the Participant's payroll deductions credited to the Participant's account invested in Common Stock will be paid to such the Participant as soon as administratively practicable after receipt of the Participant's notice of withdrawal, such the Participant's option for to purchase shares pursuant to the Offer Period Plan automatically will be automatically terminated, and no further payroll deductions for the purchase of shares will be made during the Offer Period. If the Participant elects withdrawal alternative (ii) described above, no further payroll deductions for the purchase Participant's account. Payroll deductions will not resume on behalf of shares will be made during a Participant who has withdrawn from the Offer Period, all Plan (a "Former Participant") unless the Former Participant enrolls in a subsequent Offering Period in accordance with Section 5(a). (b) Upon termination of the Participant's payroll deductions Continuous Status as an Employee prior to any Exercise Date for any reason, including retirement or death, the Plan Contributions credited to the Participant's account and not yet invested in Common Stock will be applied to the exercise of the Participant's option on the next Exercise Date (subject to Sections 3(b), 6, 7 and 12), and after such Exercise Date, such Participant's option for the Offer Period will be automatically terminated and all remaining accumulated payroll deduction amounts shall be returned to the Participant. If a Participant withdraws from an Offer Period, payroll deductions will not resume at the beginning of the succeeding Offer Period unless the Participant enrolls in such succeeding Offer Period. 5 (b) Upon termination of a Participant's employment relationship (as described in Section 2(k)) prior to the next scheduled Exercise Date, the payroll deductions credited to such Participant's account during the Offer Period but not yet used to exercise the option will be returned to such Participant or, in the case of his/her death, to the person or persons entitled thereto under Participant's beneficiary as determined pursuant to Section 14, and such the Participant's option to purchase shares under the Plan will automatically terminate. 6 (c) A Participant's withdrawal from an Offering Period will not have any effect upon the Participant's eligibility to participate in succeeding Offering Periods or in any similar plan which may hereafter be automatically terminated without exercise of any portion of such option. adopted by the Company. View More
Withdrawal Termination of Employment. (a) A Participant may either: (i) withdraw all but not less than all from the payroll deductions Plan at any time by giving written notice to the Company. All of the Plan Contributions credited to the Participant's account and not yet used to exercise the Participant's option under the Plan; or (ii) terminate future payroll deductions, but allow accumulated payroll deductions to be used to exercise the Participant's option under the Plan at any time by giving notice to the Company (using such fo...rm or method (including electronic forms) as the Administrator may designate from time to time). If the Participant elects withdrawal alternative (i) described above, all of the Participant's payroll deductions credited to the Participant's account invested in Common Stock will be paid to such the Participant as soon as administratively practicable after receipt of the Participant's notice of withdrawal, such the Participant's option for to purchase shares pursuant to the Offer Period Plan automatically will be automatically terminated, and no further payroll deductions for the purchase of shares will be made during the Offer Period. If the Participant elects withdrawal alternative (ii) described above, no further payroll deductions for the purchase Participant's account. Payroll deductions will not resume on behalf of shares will be made during a Participant who has withdrawn from the Offer Period, all Plan (a "Former Participant") unless the Former Participant enrolls in a subsequent Offering Period in accordance with Section 5(a). (b) Upon termination of the Participant's payroll deductions Continuous Status as an Employee prior to any Exercise Date for any reason, including retirement or death, the Plan Contributions credited to the Participant's account and not yet invested in Common Stock will be applied to the exercise of the Participant's option on the next Exercise Date (subject to Sections 3(b), 6, 7 and 12), and after such Exercise Date, such Participant's option for the Offer Period will be automatically terminated and all remaining accumulated payroll deduction amounts shall be returned to the Participant. If a Participant withdraws from an Offer Period, payroll deductions will not resume at the beginning of the succeeding Offer Period unless the Participant enrolls in such succeeding Offer Period. 5 (b) Upon termination of a Participant's employment relationship (as described in Section 2(k)) prior to the next scheduled Exercise Date, the payroll deductions credited to such Participant's account during the Offer Period but not yet used to exercise the option will be returned to such Participant or, in the case of his/her death, to the person or persons entitled thereto under Participant's beneficiary as determined pursuant to Section 14, and such the Participant's option to purchase shares under the Plan will automatically terminate. (c) A Participant's withdrawal from an Offering Period will not have any effect upon the Participant's eligibility to participate in succeeding Offering Periods or in any similar plan which may hereafter be automatically terminated without exercise of any portion of such option. adopted by the Company. View More
Withdrawal Termination of Employment. (a) A Participant participant may either: (i) withdraw all but not less than all the payroll deductions Contributions credited to the Participant's his or her account and not yet used to exercise the Participant's option under the Plan; his or (ii) terminate future payroll deductions, but allow accumulated payroll deductions to be used to exercise the Participant's her option under the Plan at any time by giving written notice to the Company (using such in the form of Exhibit B to this Plan or m...ethod (including by following an electronic forms) as or other enrollment procedure determined by the Administrator may designate from time to time). If the Participant elects withdrawal alternative (i) described above, all Administrator. All of the Participant's payroll deductions participant's Contributions credited to the Participant's his or her account will be paid to such Participant as soon as administratively practicable participant promptly after receipt of notice of withdrawal, withdrawal and such Participant's participant's option for the Offer Offering Period will be automatically terminated, and no further payroll deductions Contributions for the purchase of shares will be made during the Offer Offering Period. If the Participant elects withdrawal alternative (ii) described above, no further payroll deductions for the purchase of shares will be made during the Offer Period, all of the Participant's payroll deductions credited to the Participant's account will be applied to the exercise of the Participant's option on the next Exercise Date (subject to Sections 3(b), 6, 7 and 12), and after such Exercise Date, such Participant's option for the Offer Period will be automatically terminated and all remaining accumulated payroll deduction amounts shall be returned to the Participant. If a Participant participant withdraws from an Offer Offering Period, payroll deductions will not resume at the beginning of the succeeding Offer Offering Period unless the Participant enrolls participant re-enrolls in such succeeding Offer Period. the Plan in accordance with the provisions of Section 5. (b) Upon termination of a Participant's employment relationship participant's ceasing to be an Employee (as described defined in Section 2(k)) prior 2(i) hereof), for any reason, he or she will be deemed to have elected to withdraw from the next scheduled Exercise Date, Plan and the payroll deductions Contributions credited to such Participant's participant's account during the Offer Offering Period but not yet used to exercise the option will be returned to such Participant participant or, in the case of his/her his or her death, to the person or persons entitled thereto under Section 14, 14 hereof, and such Participant's participant's option will be automatically terminated without exercise terminated. (c) A participant's withdrawal from an Offering Period will not have any effect upon his or her eligibility to participate in any similar plan which may hereafter be adopted by the -6- Company or in succeeding Offering Periods which commence after the termination of any portion of such option. the Offering Period from which the participant withdraws. View More
Withdrawal Termination of Employment. (a) A Participant participant may either: (i) withdraw all but not less than all the payroll deductions and other contributions, if any, credited to the Participant's his or her account and not yet used to exercise the Participant's option under the Plan; his or (ii) terminate future payroll deductions, but allow accumulated payroll deductions to be used to exercise the Participant's her option under the Plan at any time by accessing the website designated by the Company and electronically withd...rawing from the Offering Period or by giving written notice to the Company (using (in such form or method (including electronic forms) as the Administrator Company may designate from time to time). If the Participant elects withdrawal alternative (i) described above, all provide). All of the Participant's participant's payroll deductions credited to the Participant's his or her account will be paid to such Participant participant as soon as administratively practicable after receipt of notice of withdrawal, withdrawal and such Participant's participant's option for the Offer Offering Period will be automatically terminated, and no further payroll deductions (or contributions) for the purchase of shares will be made during the Offer Offering Period. If the Participant elects withdrawal alternative (ii) described above, no further payroll deductions for the purchase of shares will be made during the Offer Period, all of the Participant's payroll deductions credited to the Participant's account will be applied to the exercise of the Participant's option on the next Exercise Date (subject to Sections 3(b), 6, 7 and 12), and after such Exercise Date, such Participant's option for the Offer Period will be automatically terminated and all remaining accumulated payroll deduction amounts shall be returned to the Participant. If a Participant participant withdraws from an Offer Offering Period, payroll deductions (or contributions) will not resume at the beginning of the succeeding Offer Offering Period unless the Participant participant timely enrolls in such succeeding Offer that Offering Period. 5 (b) Upon a participant's ceasing to be a Team Member for any reason or upon termination of a Participant's participant's employment relationship (as described in Section 2(k)) prior to the next scheduled Exercise Date, paragraph 2(g)), the payroll deductions and other contributions, if any, credited to such Participant's participant's account during the Offer Offering Period but not yet used to exercise the option will be returned to such Participant participant or, in the case of his/her his or her death, to the person or persons entitled thereto under Section 14, paragraph 15, and such Participant's participant's option will be automatically terminated. A participant whose employment is deemed to have terminated without exercise of under paragraph 2(g) may participate in any portion of future Offering Period in which such option. individual is eligible to participate by timely enrollment in that Offering Period. View More
Withdrawal Termination of Employment. (a) A Participant participant may either: (i) withdraw all but not less than all the payroll deductions and other contributions, if any, credited to the Participant's his or her account and not yet used to exercise the Participant's his or her option under the Plan; or (ii) terminate future payroll deductions, but allow accumulated payroll deductions to be used to exercise the Participant's option 5 under the Plan at any time by accessing the website designated by the Company and electronically ...withdrawing from the Offering Period or by giving written notice to the Company (using (in such form or method (including electronic forms) as the Administrator Company may designate from time to time). If the Participant elects withdrawal alternative (i) described above, all provide). All of the Participant's participant's payroll deductions credited to the Participant's his or her account will be paid to such Participant participant as soon as administratively practicable after receipt of notice of withdrawal, withdrawal and such Participant's participant's option for the Offer Offering Period will be automatically terminated, and no further payroll deductions (or contributions) for the purchase of shares will be made during the Offer Offering Period. If the Participant elects withdrawal alternative (ii) described above, no further payroll deductions for the purchase of shares will be made during the Offer Period, all of the Participant's payroll deductions credited to the Participant's account will be applied to the exercise of the Participant's option on the next Exercise Date (subject to Sections 3(b), 6, 7 and 12), and after such Exercise Date, such Participant's option for the Offer Period will be automatically terminated and all remaining accumulated payroll deduction amounts shall be returned to the Participant. If a Participant participant withdraws from an Offer Offering Period, payroll deductions (or contributions) will not resume at the beginning of the succeeding Offer Offering Period unless the Participant participant timely enrolls in such succeeding Offer that Offering Period. 5 (b) Upon a participant's ceasing to be an Employee for any reason or upon termination of a Participant's participant's employment relationship (as described in Section 2(k)) prior to the next scheduled Exercise Date, paragraph 2(g)), the payroll deductions and other contributions, if any, credited to such Participant's participant's account during the Offer Offering Period but not yet used to exercise the option will be returned to such Participant participant or, in the case of his/her his or her death, to the person or persons entitled thereto under Section 14, paragraph 15, and such Participant's participant's option will be automatically terminated. A participant whose employment is deemed to have terminated without exercise of under paragraph 2(g) may participate in any portion of future Offering Period in which such option. individual is eligible to participate by timely enrollment in that Offering Period. View More
Withdrawal Termination of Employment. (a) 11.1 A Participant participant may either: (i) withdraw all but not less than all the payroll deductions credited to the Participant's his account and not yet used to exercise the Participant's option under the Plan; or (ii) terminate future payroll deductions, but allow accumulated payroll deductions to be used to exercise the Participant's his option under the Plan at any time by giving written notice to the Company (using such form Company. Notwithstanding the foregoing, for purposes of E...mployees participating in the Code Section 423 Plan Component, the processing of withdrawals, whether on-line or method (including electronic forms) as the Administrator may designate from time to time). If the Participant elects withdrawal alternative (i) described above, all via hard copy, will be applied in a uniform and non-discriminatory basis. All of the Participant's participant's payroll deductions credited to the Participant's his account will be paid to such Participant as soon as administratively practicable participant promptly after receipt of notice of withdrawal, withdrawal and such Participant's participant's option for the Offer Offering Period will be automatically terminated, and no further payroll deductions for the purchase of shares will be made during the Offer Offering Period. If the Participant elects withdrawal alternative (ii) described above, no further payroll deductions for the purchase of shares will be made during the Offer Period, all of the Participant's payroll deductions credited to the Participant's account will be applied to the exercise of the Participant's option on the next Exercise Date (subject to Sections 3(b), 6, 7 and 12), and after such Exercise Date, such Participant's option for the Offer Period will be automatically terminated and all remaining accumulated payroll deduction amounts shall be returned to the Participant. If a Participant participant withdraws from an Offer Offering Period, payroll deductions will not resume at the beginning of the succeeding Offer Offering Period unless the Participant enrolls participant delivers to the Company a new subscription agreement. Notwithstanding any other provision of the Plan to the contrary, in the event a participant has elected to make payroll deduction contributions other than through deductions from his Compensation, such succeeding Offer Period. 5 (b) participant shall be deemed to have withdrawn from the Plan in accordance with this Section 11.1 if any such payroll deduction contribution is not received by the Company within three business days following an applicable payday. 11.2 Upon termination of a Participant's employment relationship (as described in Section 2(k)) the participant's Continuous Status as an Employee prior to the next scheduled an Exercise Date, Date for any reason, including retirement or death, the payroll deductions credited to such Participant's participant's account during the Offer Offering Period but not yet used to exercise the option will be returned to such Participant participant or, in the case of his/her his death, to the person or persons entitled thereto under Section 14, paragraph 15, and such Participant's participant's option will be automatically terminated without exercise terminated. 11.3 In the event an Employee fails to remain in Continuous Status as an Employee of the Company during an Offering Period in which the Employee is a participant, he will be deemed to have elected to withdraw from the Plan and the payroll deductions credited to his account will be returned to such participant and such participant's option terminated. 11.4 A participant's withdrawal from an Offering Period will not have any portion effect upon his eligibility to participate in any similar plan which may hereafter be adopted by the Company or in succeeding Offering Periods which commence after the termination of such option. the Offering Period from which the participant withdraws. 0 CYPRESS 11.5 A participant's withdrawal from an Offering Period will not have any effect upon his or her eligibility to participate in any similar plan which may hereafter be adopted by the Company. View More
Withdrawal Termination of Employment. (a) A Participant participant may either: (i) withdraw all but not less than all the payroll deductions credited to the Participant's his or her account and not yet used to exercise the Participant's option under the Plan; his or (ii) terminate future payroll deductions, but allow accumulated payroll deductions to be used to exercise the Participant's her option under the Plan at any time by giving written notice to the Company (using such in the form or method (including electronic forms) as th...e Administrator may designate from time of Exhibit B to time). If the Participant elects withdrawal alternative (i) described above, all this Plan. All of the Participant's participant's payroll deductions credited to the Participant's his or her account will be paid to such Participant as soon as administratively practicable participant promptly after receipt of notice of withdrawal, withdrawal and such Participant's participant's option for the Offer Offering Period will be automatically terminated, and no further payroll deductions for the purchase of shares will be made during the Offer Offering Period. If the Participant elects withdrawal alternative (ii) described above, no further payroll deductions for the purchase of shares will be made during the Offer Period, all of the Participant's payroll deductions credited to the Participant's account will be applied to the exercise of the Participant's option on the next Exercise Date (subject to Sections 3(b), 6, 7 and 12), and after such Exercise Date, such Participant's option for the Offer Period will be automatically terminated and all remaining accumulated payroll deduction amounts shall be returned to the Participant. If a Participant participant withdraws from an Offer Offering Period, payroll deductions will not resume at the beginning of the succeeding Offer Offering Period unless the Participant enrolls in such succeeding Offer Period. participant delivers to the Company a new subscription agreement. 5 (b) Upon termination of a Participant's employment relationship participant's ceasing to be an Employee (as described defined in Section 2(k)) prior 2(g) hereof), for any reason, including by virtue of him or her having failed to remain an Employee of the next scheduled Exercise Date, Company for at least twenty (20) hours per week during an Offering Period in which the Employee is a participant, he or she will be deemed to have elected to withdraw from the Plan and the payroll deductions credited to such Participant's participant's account during the Offer Offering Period but not yet used to exercise the option will be returned to such Participant participant or, in the case of his/her his or her death, to the person or persons entitled thereto under Section 14, 14 hereof, and such Participant's participant's option will be automatically terminated without exercise of any portion of such option. terminated. View More
Withdrawal Termination of Employment. (a) A Participant (aa)A participant may either: (i) withdraw all but not less than all the payroll deductions and other contributions, if any, credited to the Participant's his or her account and not yet used to exercise the Participant's option under the Plan; his or (ii) terminate future payroll deductions, but allow accumulated payroll deductions to be used to exercise the Participant's her option under the Plan at any time by accessing the website designated by the Company and electronically... withdrawing from the Offering Period or by giving written notice to the Company (using (in such form or method (including electronic forms) as the Administrator Company may designate from time to time). If the Participant elects withdrawal alternative (i) described above, all provide). All of the Participant's participant's payroll deductions credited to the Participant's his or her account will be paid to such Participant participant as soon as administratively practicable after receipt of notice of withdrawal, withdrawal and such Participant's participant's option for the Offer Offering Period will be automatically terminated, and no further payroll deductions (or contributions) for the purchase of shares will be made during the Offer Offering Period. If the Participant elects withdrawal alternative (ii) described above, no further payroll deductions for the purchase of shares will be made during the Offer Period, all of the Participant's payroll deductions credited to the Participant's account will be applied to the exercise of the Participant's option on the next Exercise Date (subject to Sections 3(b), 6, 7 and 12), and after such Exercise Date, such Participant's option for the Offer Period will be automatically terminated and all remaining accumulated payroll deduction amounts shall be returned to the Participant. If a Participant participant withdraws from an Offer Offering Period, payroll deductions (or contributions) will not resume at the beginning of the succeeding Offer Offering Period unless the Participant participant timely enrolls in such succeeding Offer that Offering Period. 5 (b) Upon (bb)Upon a participant's ceasing to be an Employee for any reason or upon termination of a Participant's participant's employment relationship (as described in Section 2(k)) prior to the next scheduled Exercise Date, 2(g)), the payroll deductions and other contributions, if any, credited to such Participant's participant's account during the Offer Offering Period but not yet used to exercise the option will be returned to such Participant participant or, in the case of his/her his or her death, to the person or persons entitled thereto under Section 14, 16, and such Participant's participant's option will be automatically terminated. A participant whose employment is deemed to have terminated without exercise of under Section 2(g) may participate in any portion of future Offering Period in which such option. individual is eligible to participate by timely enrollment in that Offering Period. View More
