This excerpt taken from the LLTC DEF 14A filed Sep 23, 2009.
The Wall Street Journal.
Payment of Purchase Price; Payroll Deductions
The purchase price of the shares is accumulated by payroll deductions throughout each offering period. The number of shares of the Companys common stock a participant may purchase in each purchase period during an offering period is determined by dividing the total amount of payroll deductions withheld
from the participants compensation during that purchase period by the purchase price; provided, however, that a participant may not purchase more than 300 shares during any offering period, although the Administrator has the ability to change that limit. During an offering period, a participant may discontinue his or her participation in the Purchase Plan, and may decrease the rate of payroll deductions within limits set by the Administrator.
All payroll deductions made for a participant are credited to the participants account under the Purchase Plan, are withheld in whole percentages only and are included with the Companys general funds, which are used for general corporate purposes. A participant may not make any additional payments into his or her account.
Generally, a participant may withdraw from an offering period at any time by written or electronic notice without affecting his or her eligibility to participate in future offering periods. However, once a participant withdraws from a particular offering period, that participant may not participate again in the same offering period. To participate in a subsequent offering period, the participant must deliver to the Company a new enrollment agreement.
Termination of Employment
Upon termination of a participants employment for any reason, including disability or death, he or she will be deemed to have elected to withdraw from the Purchase Plan, the payroll deductions credited to the participants account at that time will be returned to him or her or, in the case of death, to the person or persons entitled thereto, and such participants participation in the Purchase Plan will automatically be terminated.
Adjustments upon Changes in Capitalization, Dissolution, Liquidation, Merger or Change of Control