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This excerpt taken from the PEGA DEF 14A filed Apr 11, 2006. Purpose The purpose of the 2006 Plan is to provide eligible employees of the Company and its subsidiaries an opportunity to purchase shares of Common Stock through payroll deductions or lump sum payments. The 2006 Plan is intended to provide an additional incentive to participating eligible employees to remain with the Company and to advance the best interests of the Company and its stockholders. The 2006 Plan is intended to qualify as an “employee stock purchase plan” as defined in Section 423 of the Internal Revenue Code of 1986, as amended (the “Code”). |
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