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This excerpt taken from the RVBD 10-K filed Feb 23, 2009. SECTION 5. EMPLOYEE CONTRIBUTIONS. (a) Commencement of Payroll Deductions. A Participant may purchase shares of Stock under the Plan solely by means of payroll deductions. Payroll deductions shall commence as soon as reasonably practicable after the Company has received the prescribed enrollment form. (b) Amount of Payroll Deductions. An Eligible Employee shall designate on the enrollment form the portion of his or her Compensation that he or she elects to have withheld for the purchase of Stock. Such portion shall be a whole percentage of the Eligible Employees Compensation, but not less than 1% nor more than 15%. (c) Changing Withholding Rate. When the Committee adopts an Offering Period under Section 4(a), it shall also prescribe the rules that will apply if a Participant wishes to change his or her rate of payroll withholding during such Offering Period. A Participant may change his or her rate of payroll withholding, only if and to the extent permitted by such rules, by filing a new enrollment form with the Company at the prescribed location. The new withholding rate shall be effective as soon as reasonably practicable after the Company has received such form. The rules prescribed by the Committee may also provide that a Participants rate of payroll withholding will automatically revert to a prior rate as of the commencement date of a new Accumulation Period. |
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