RDEN » Topics » ARTICLE VI. DISBURSEMENTS FROM ACCOUNT

This excerpt taken from the RDEN 10-K filed Sep 11, 2006.

ARTICLE VI. DISBURSEMENTS FROM ACCOUNT

 

6.01 Withdrawal of Contributions. Upon a participant’s withdrawal from any Offering, all or any designated portion of the contributions credited to a participant’s Account with respect to such Offering shall be disbursed, without interest, to the participant.

 

6.02 Withdrawal of Shares. A participant may at any time withdraw all or any number of whole Shares credited to his or her Account under the Plan by directing the Custodian to cause his or her Shares to be (i) issued as certificates in his or her name (subject to the charges described in Section 7.03) or (ii) sold and the net proceeds (less applicable commissions and other charges) distributed in cash to the participant. A participant may also direct the Custodian to cause Shares to be transferred to another brokerage account of the participant, provided the Shares are held by the participant for at least two (2) years following the first day of the Offering pursuant to which the Shares were acquired.

 

6.03 Distribution Upon Termination. Upon termination of a person’s participation in the Plan as a whole prior to the expiration of all Offerings thereunder, all contributions and Shares credited to a participant’s Account shall be disbursed to, and as directed by, him or her in accordance with the Plan. All contributions credited to a participant’s Account that have not been applied to the purchase of Shares shall be returned to him or her without interest. Shares credited to a participant’s Account shall, in accordance with instructions to the Custodian from a participant and at his or her expense, be distributed in the same manner as permitted upon any withdrawal.

 

6.04 Failure to Provide Directions. If within ninety (90) days after a participant has withdrawn from the Plan a participant has not notified the Custodian of his or her instructions as set forth herein, the Committee shall direct the Custodian to issue Shares in a participant’s name and deliver the same to the participant at his or her last known address.

 

6.05 Sale of Shares. If a participant elects to receive the proceeds from the sale of his or her Shares, the amount payable shall be determined by the Custodian on the date of sale, less any applicable commissions, fees and charges. The Custodian, acting on a participant’s behalf, shall take such action as soon as practicable, but in no event later than five (5) business days after receipt of notification from the participant. The Company assumes no responsibility in connection with such transactions, and all commissions, fees or other charges arising in connection therewith shall be borne directly by the participant. The amount thus determined shall be paid in a lump sum to the participant.


6.06 Unpaid Leave of Absence. Unless a participant has voluntarily withdrawn his or her contributions from the Plan, Shares will be purchased with contributions to his or her Account on the last day of the Offering next following commencement of an unpaid leave of absence by such participant provided such leave does not constitute a termination of employment. The number of Shares to be purchased will be determined by applying to the purchase the amount of the participant’s contributions made up to the commencement of such unpaid leave of absence. Upon the termination of a participant’s unpaid leave of absence and the participant’s return to work at the Company, payroll deductions and alternative contributions shall resume at the rate in effect at the commencement of the unpaid leave of absence.
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