ATVI » Topics » SECTION 9. LIMITATIONS ON STOCK OWNERSHIP.

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

SECTION 9.         LIMITATIONS ON STOCK OWNERSHIP.

(a)           Five Percent Limit.  Any other provision of the Plan notwithstanding, no Participant shall be granted a right to purchase Stock under the Plan if such Participant, immediately after his or her election to purchase such Stock, would own stock possessing more than 5% of the total combined voting power or value of all classes of stock of the Company or any parent or Subsidiary of the Company. For purposes of this subsection (a), the following rules shall apply:

SECTION 9.         LIMITATIONS ON STOCK OWNERSHIP.

(a)           Dollar Limit.  Notwithstanding anything to the contrary in this Plan, and for the avoidance of doubt, no Option granted under this Plan shall permit a Participant’s right to purchase Stock under the Plan to accrue at a rate which exceeds $25,000 of Fair Market Value of Stock (determined at the time such Option is granted) for each calendar year in which such Option is outstanding at any time.

(b)           Effects of Preclusion.  If a Participant is precluded by subsection (a) above from purchasing additional Stock under the Plan, then his or her employee contributions shall automatically be discontinued and shall resume at the beginning of the earliest Accumulation Period ending in the next calendar year (if he or she then is an Eligible Employee).

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EXCERPTS ON THIS PAGE:

8-K (2 sections)
Oct 23, 2006
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