This excerpt taken from the ACN DEF 14A filed Dec 21, 2009.
Payment of Purchase Price; Changes in Payroll Deductions; Issuance of Shares
Payroll deductions (to the extent permitted by applicable local law) will be made on each day that a participant is paid during an offering period. The deductions will be made at the participants election as a percentage of the participants compensation in 1% increments, from 1% up to such maximum percentage of the participants compensation (or maximum dollar amount) as is permitted by the Committee from time to time with respect to that participant. Maximum percentage or dollar amount may differ among participants. For a given offering period, payroll deductions will commence on the offering date and will end on the related purchase date, unless sooner altered or terminated as provided in the 2010 ESPP. A participants compensation will be defined from time to time by the Committee in its sole discretion with respect to any option or offering period and may be defined differently for different
participants for purposes of the 2010 ESPP. Except as otherwise defined by the Committee, compensation will (i) include a participants base salary, annual bonuses, commissions, overtime and shift pay, in each case prior to reductions for pre-tax contributions made to a plan or salary reduction contributions to a plan excludable from income under Sections 125 or 402(g) of the Code, and (ii) exclude severance pay, stay-on bonuses, long-term bonuses, retirement income, change in control payments, contingent payments, income derived from share options, share appreciation rights and other equity-based compensation and other forms of special remuneration.
Unless otherwise determined by the Committee, a participant may not change the rate of payroll deductions once an offering period has commenced. The Committee will specify procedures by which a participant may increase or decrease the rate of payroll deductions for subsequent offering periods.
All payroll deductions made with respect to a participant will be credited to the participants payroll deduction account and will be deposited with the general funds of Accenture plc. To the extent permitted by applicable local law, no interest will accrue on the amounts credited to that payroll deduction account. All payroll deductions received or held by Accenture plc may be used by it for any corporate purpose, and Accenture plc will not be obligated to segregate these payroll deductions, to the extent permitted by applicable local law. Except to the extent provided by the Committee, a participant may not make any separate cash payments into the participants payroll deduction account, and payment for shares purchased under the 2010 ESPP may not be made in any form other than by payroll deduction.
On each purchase date, Accenture plc will apply all funds then in the participants payroll deduction account to purchase shares pursuant to the option granted on the offering date for that offering period. In the event that the number of shares to be purchased by all participants in any offering period exceeds the number of shares then available for issuance under the 2010 ESPP,
As soon as practicable following the end of each offering period, the number of shares purchased by each participant will be deposited into an account established in the participants name. Unless otherwise permitted by the Committee in its sole discretion, dividends that are declared on the shares held in that account will be reinvested in whole or fractional shares.
Except as otherwise determined by the Committee from time to time, at any time after the 24 month period following the relevant offering date, the participant may:
The Committee may require, in its sole discretion, that the participant bear the cost of transferring these shares.