EMKR » Topics » Eligibility

This excerpt taken from the EMKR DEF 14A filed Mar 27, 2009.
Eligibility. All full-time and part-time employees of EMCORE and those of our designated subsidiaries are eligible to participate in the 2000 ESPP, except:

an employee may not be granted an option under the 2000 ESPP if:

 
·
immediately after the grant of such option, the employee would own 5 percent or more of the vote or value of all classes of our stock or the stock of any of our subsidiaries, or
 
·
such option would permit the employee to purchase more than $25,000 of our stock (using the fair market value of our stock at the time the option is granted) under the 2000 ESPP (and any other employee stock purchase plan of us or our subsidiaries) per calendar year when the option is outstanding;

and the Committee may, in its discretion, exclude from participation in the 2000 ESPP employees who:

·      customarily work 20 or fewer hours per week,
·      customarily work 5 or fewer months per calendar year, or
·      are highly compensated employees (within the meaning of Section 414(q) of the Internal Revenue Code).

Since the effective date of the 2000 ESPP (and until the Committee determines otherwise), employees who customarily work 20 or fewer hours per week, or who customarily work 5 or fewer months per calendar year, have been ineligible to participate in the 2000 ESPP.

Approximately 650 employees are currently eligible to participate in the 2000 ESPP. In December 2008 (for the period from July 1, 2008 to December 31, 2008), employees participating in the 2000 ESPP purchased 468,080 shares of the Company’s common stock. In June 2008 (for the period from January 1, 2008 to June 30, 2008), employees participating in the 2000 ESPP purchased 120,791 shares of the Company’s common stock.

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