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These excerpts taken from the ROST 10-K filed Apr 1, 2008. Initial Participation. An eligible
employee shall become a Participant on the first Offering Date after satisfying
the eligibility requirements and signing and delivering to the Company office or
representative specified by Company (including a third-party administrator
designated by the Company) at such time prior to such Offering Date as may be
established by the Company (the “Enrollment Date”) a subscription agreement
indicating the employee’s election to participate and authorizing payroll
deductions. The subscription agreement may be in such written or electronic form
as the Company may permit or require, provided that each electronic subscription
agreement shall be digitally signed or authenticated by the Participant in the
manner specified by the Company. An eligible employee who does not deliver a
subscription agreement in the manner permitted or required prior to the
applicable Enrollment Date for the first Offering Period after becoming eligible
to participate in the Plan shall not participate in the Plan for that Offering
Period or for any subsequent Offering Period unless such employee subsequently
enrolls in the Plan by delivering a subscription agreement prior to the
applicable Enrollment Date for such subsequent Offering
Period.
(b) Continued Participation. Subject to satisfying the eligibility requirements for a particular Offering Period, a Participant shall automatically participate in each succeeding Offering Period until such time as such Participant withdraws from the Plan pursuant to paragraph 11 or terminates employment as provided in paragraph 12. A Participant is not required to deliver any additional subscription agreements for subsequent Offering Periods in order to continue participation in the Plan. 7. Right to Purchase Shares. (a) Except as set forth below, as of the first day of an Offering Period (the “Offering Date”), each Participant in such Offering Period shall be granted an Option consisting of the right to purchase that number of whole Shares arrived at by dividing (i)the product of $2,083.33 and the number of months (rounded to the nearest whole month) contained in the Offering Period by (ii) one hundred percent (100%) of the Fair Market Value of a Share on the Offering Date. (b) “Fair Market Value” means the value of a security, as determined in good faith by the Board. Unless otherwise provided herein, if the security is listed on any established stock exchange or market system, the Fair Market Value of the security shall be the closing sale price (rounded up where necessary to the nearest whole cent) for such security (or the closing bid if no sales were reported) as quoted on such exchange or market system (or the exchange or market system with the greatest volume of trading in the relevant security of the Company) on the trading day which is coincident with the relevant determination date, as reported in The Wall Street Journal or such other source as the Board deems reliable.
Initial Participation. An eligible employee shall become a Participant on the first Offering Date after satisfying the eligibility requirements and signing and delivering to the Company office or representative specified by Company (including a third-party administrator designated by the Company) at such time prior to such Offering Date as may be established by the Company (the “Enrollment Date”) a subscription agreement indicating the employee’s election to participate and authorizing payroll deductions. The subscription agreement may be in such written or electronic form as the Company may permit or require, provided that each electronic subscription agreement shall be digitally signed or authenticated by the Participant in the manner specified by the Company. An eligible employee who does not deliver a subscription agreement in the manner permitted or required prior to the applicable Enrollment Date for the first Offering Period after becoming eligible to participate in the Plan shall not participate in the Plan for that Offering Period or for any subsequent Offering Period unless such employee subsequently enrolls in the Plan by delivering a subscription agreement prior to the applicable Enrollment Date for such subsequent Offering Period. | ||||
(b) Continued Participation. Subject to 7. Right to Purchase Shares. (a) Except as set forth below, as of the first day of an Offering Period (b) “Fair Market Value” means the value of a security, as determined in
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