Alaska Airlines and Horizon Air 2009 Annual Report Download - page 83

Payroll Deductions.Subject to such other rules as the Committee may adopt, payroll
deductions with respect to an Offering Period shall commence as of the first day of the
payroll period which coincides with or immediately follows the applicable Grant Date and
shall end on the last date of the payroll period which coincides with or immediately
precedes the applicable Exercise Date, unless sooner terminated by the Participant as
provided in Section 7(d) or until his or her participation terminates pursuant to
Section 11.
Changes in Contribution Elections for Next Offering Period.A Participant may
discontinue, increase, or decrease the level of his or her Contributions (within the Plan
limits) by completing and filing with the Company, on such terms as the Committee (or its
delegate) may prescribe, a new Subscription Agreement which indicates such election.
Subject to any other timing requirements that the Committee may impose, an election
pursuant to this Section 7(c) shall be effective with the first Offering Period that
commences after the Company’s receipt of such election. Except as contemplated by
Section 7(d) and 7(e), changes in Contribution levels may not take effect during an
Offering Period. Other modifications or suspensions of Subscription Agreements are not
permitted.
Withdrawal During an Offering Period.A Participant may terminate his or her
Contributions during an Offering Period (and receive a distribution of the balance of his or
her Account in accordance with Section 11) by completing and filing with the Company, in
such form and on such terms as the Committee (or its delegate) may prescribe, a written
withdrawal form or applicable electronic withdrawal form which shall be signed by the
Participant. Such termination shall be effective as soon as administratively practicable
after its receipt by the Company. A withdrawal election pursuant to this Section 7(d) with
respect to an Offering Period shall only be effective, however, if it is received by the
Company prior to the Exercise Date of that Offering Period (or such earlier deadline that
the Committee may reasonably require to process the withdrawal prior to the applicable
Exercise Date). Partial withdrawals of Accounts are not permitted.
Discontinuance of Contributions During an Offering Period.A Participant may discontinue
his or her Contributions at any time during an Offering Period by completing and filing with
the Company, on such terms as the Committee (or its delegate) may prescribe, a new
Subscription Agreement which indicates such election. If a Participant elects to
discontinue his or her Contributions pursuant to this Section 7(e), the Contributions
previously credited to the Participant’s Account for that Offering Period shall be used to
exercise the Participant’s Option as of the applicable Exercise Date in accordance with
Section 9 (unless the Participant makes a timely withdrawal election in accordance with
Section 7(d), in which case such Participant’s Account shall be paid to him or her in cash
in accordance with Section 11(a)).
Leaves of Absence.During leaves of absence approved by the Company or a Participating
Subsidiary and meeting the requirements of Regulation Section 1.421-1(h)(2) under the
Code, a Participant may elect to continue participation in this Plan by delivering cash
payments to the Company on his or her normal paydays equal to the reduction in his or
her Plan Contributions caused by his or her leave.
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