ATVI » Topics » SECTION 7. CHANGE IN EMPLOYMENT STATUS.

These excerpts taken from the ATVI 8-K filed Oct 23, 2006.

SECTION 7.         CHANGE IN EMPLOYMENT STATUS.

(a)           Termination of Employment.  Termination of a Participant’s employment for any reason, including retirement or death or the failure of a Participant to remain an Eligible Employee, terminates his or her participation in the Plan immediately.  In such event, the payroll deductions credited to the Participant’s Plan Account will be returned, without interest, to him or her or, in the case of his or her death, to his or her legal representative.

(b)           Leave of Absence.  For purposes of the Plan, employment shall not be deemed to terminate when the Participant goes on a military leave, a sick leave or any other leave of absence, if such other leave was approved by the Committee in writing.  Employment, however, shall be deemed to terminate 90 days after the Participant goes on a leave, unless a contract or statute guarantees his or her right to return to work.  Employment shall be deemed to terminate in any event when the approved leave ends, unless the Participant immediately returns to work.

SECTION 7.         CHANGE IN EMPLOYMENT STATUS.

(a)           Termination of Employment.  Termination of a Participant’s employment for any reason, including retirement or death or the failure of a Participant to remain an Eligible Employee, terminates his or her participation in the Plan immediately.  In such event, the payroll deductions credited to the Participant’s Plan Account and any Alternative Payments not applied to the purchase of Stock hereunder will be returned, without interest, to him or her or, in the case of his or her death, to his or her legal representative.

(b)           Leave of Absence.  For purposes of the Plan, employment shall not be deemed to terminate when the Participant goes on a military leave, a sick leave or any other leave of absence, if such other leave was approved by the Committee in writing.  Employment, however,

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shall be deemed to terminate 90 days after the Participant goes on a leave, unless a contract or statute guarantees his or her right to return to work.  Employment shall be deemed to terminate in any event when the approved leave ends, unless the Participant immediately returns to work.

EXCERPTS ON THIS PAGE:

8-K (2 sections)
Oct 23, 2006
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