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This excerpt taken from the NKE 10-Q filed Jan 7, 2009. Payroll
Deductions or Other Contributions. Unless otherwise
determined by the Authorized Officer in accordance with this paragraph
6(b), each subscription shall include a payroll deduction authorization that
will authorize the employing entity to make payroll deductions in an amount
designated by the participant from each of the participant’s paychecks during
the Offering. The designated amount to be deducted from each paycheck
must be a whole percentage of not less than one percent or more than 10 percent
of the participant’s Compensation (as defined below) for the period covered by
the paycheck. If the Authorized Officer determines that payroll
deductions are either illegal or inadvisable in any particular jurisdiction, the
Authorized Officer may provide for alternate methods of contributing to the Plan
for all participants in that jurisdiction, provided that no participant shall be
permitted to contribute less than one percent or more than 10 percent of the
participant’s aggregate Compensation paid during the Offering. Each
employing entity will promptly remit the amount of payroll deductions or other
contributions to the Company.
(c) |
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