OMI » Topics » 4. PROCEDURE FOR ENTERING THE PLAN AND PAYROLL DEDUCTIONS.
This excerpt taken from the OMI DEF 14A filed Mar 9, 2007.
4. PROCEDURE FOR ENTERING THE PLAN AND PAYROLL DEDUCTIONS.
Any eligible teammate desiring to participate in the Plan shall contact the Agent (defined in Section 7 hereof) and follow the enrollment instructions provided by such Agent
(which shall include payroll deduction authorization requesting the Company to withhold a portion of such Participants compensation each pay period for payment to the Agent). The amount of payroll deduction elected by any Participant shall be
in whole dollars and shall not exceed $400.00 per month (or such other amount, not to exceed $1,000.00 per month, as may be prescribed by the Committee from time to time).
After a teammate has become a Participant in the Plan, participation therein will continue thereafter so long as the Plan remains in effect and until the Participant withdraws from
the Plan as hereinafter provided. A Participants payroll deduction authorization shall continue in force and effect until changed by the Participant in accordance with instructions provided by the Agent.
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