Alaska Airlines and Horizon Air 2007 Annual Report Download - page 95

this Plan or under awards are subject to compliance with all applicable federal and state laws,
rules and regulations (including but not limited to state and federal securities law and federal
margin requirements) and to such approvals by any listing, regulatory or governmental authority
as may, in the opinion of counsel for the Corporation, be necessary or advisable in connection
therewith. The person acquiring any securities under this Plan will, if requested by the
Corporation or one of its Subsidiaries, provide such assurances and representations to the
Corporation or one of its Subsidiaries as the Administrator may deem necessary or desirable
to assure compliance with all applicable legal and accounting requirements.
8.2 No Rights to Award. No person shall have any claim or rights to be granted an award (or
additional awards, as the case may be) under this Plan, subject to any express contractual
rights (set forth in a document other than this Plan) to the contrary.
8.3 No Employment/Service Contract. Nothing contained in this Plan (or in any other documents
under this Plan or in any award) shall confer upon any Eligible Person or other participant any
right to continue in the employ or other service of the Corporation or one of its Subsidiaries,
constitute any contract or agreement of employment or other service or affect an employee’s
status as an employee at will, nor shall interfere in any way with the right of the Corporation or
one of its Subsidiaries to change a person’s compensation or other benefits, or to terminate
his or her employment or other service, with or without cause. Nothing in this Section 8.3,
however, is intended to adversely affect any express independent right of such person under a
separate employment or service contract other than an award agreement.
8.4 Plan Not Funded. Awards payable under this Plan shall be payable in shares or from the
general assets of the Corporation, and no special or separate reserve, fund or deposit shall be
made to assure payment of such awards. No participant, beneficiary or other person shall
have any right, title or interest in any fund or in any specific asset (including shares of
Common Stock, except as expressly otherwise provided) of the Corporation or one of its
Subsidiaries by reason of any award hereunder. Neither the provisions of this Plan (or of any
related documents), nor the creation or adoption of this Plan, nor any action taken pursuant to
the provisions of this Plan shall create, or be construed to create, a trust of any kind or a
fiduciary relationship between the Corporation or one of its Subsidiaries and any participant,
beneficiary or other person. To the extent that a participant, beneficiary or other person
acquires a right to receive payment pursuant to any award hereunder, such right shall be no
greater than the right of any unsecured general creditor of the Corporation.
8.5 Tax Withholding. Upon any exercise, vesting, or payment of any award or upon the disposition
of shares of Common Stock acquired pursuant to the exercise of an ISO prior to satisfaction of
the holding period requirements of Section 422 of the Code, the Corporation or one of its
Subsidiaries shall have the right at its option to:
(a) require the participant (or the participant’s personal representative or beneficiary, as the
case may be) to pay or provide for payment of at least the minimum amount of any taxes
which the Corporation or one of its Subsidiaries may be required to withhold with respect
to such award event or payment; or
(b) deduct from any amount otherwise payable in cash to the participant (or the participant’s
personal representative or beneficiary, as the case may be) the minimum amount of any
taxes which the Corporation or one of its Subsidiaries may be required to withhold with
respect to such cash payment.
In any case where a tax is required to be withheld in connection with the delivery of shares of
Common Stock under this Plan, the Administrator may in its sole discretion (subject to
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