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This excerpt taken from the HRB DEF 14A filed Aug 16, 2006. ARTICLE 6. METHOD OF
PARTICIPATION. –
Each Eligible Seasonal Employee who either
(i) is an employee of Tax Services on April 15 (or the next
business day if it falls on a Saturday, Sunday or holiday) of
each calendar year the Plan is in effect, or (ii) has been
an employee of Tax Services for at least an aggregate of
100 working days during the 12-month period ending with the
date of grant, shall be granted an option to purchase one share
of Common Stock for each $100 of the total compensation earned
by him or her during and throughout the 12-month period ending
with the date of grant (such total compensation during such
period to be referred to herein as “Total
Compensation”), provided, however, that (a) each
Eligible Seasonal Employee who is not entitled to an option
grant under the provisions of this Article 6 on
June 30, 1999 (regardless of whether or not such Eligible
Seasonal Employee was employed on or before such date), but who,
with respect to any subsequent date of grant during the term of
the Plan, otherwise meets the requirements of this
Article 6, shall be granted as of such subsequent date of
grant an option to purchase one share of Common Stock for each
$200 of Total Compensation in lieu of an option to purchase one
share of Common Stock for each $100 of Total Compensation,
(b) no employee shall be granted an option to purchase in
excess of 100 of said shares in any calendar year under the
Plan, (c) no employee shall be granted an option if such
employee’s Total Compensation for the applicable year is
less than $4,000 ($500 for an option granted on June 30,
1999), and (d) any fractional shares which would otherwise
be subject to an option under the Plan shall be adjusted to the
nearest whole number of shares. As promptly as possible after
June 30 of each year the Plan is in effect (but effective as of
such date), each Eligible Seasonal Employee shall be notified in
writing of the number of shares optioned to him or her under the
Plan, the option price and the terms and conditions of said
option, as described in Article 9.
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