Garmin 2007 Annual Report Download - page 126

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xi
enroll in the Plan on the next subsequent Enrollment Date following withdrawal in accordance
with the provisions of Article VI.
10.2 Termination of Employment. Participation in the Plan terminates immediately
when a Participant ceases to be employed by the Company or any Participating Subsidiary for
any reason whatsoever, including but not limited to termination of employment, whether
voluntary or involuntary, or on account of disability, or retirement, but not including death, or if
the participating Subsidiary employing the Participant ceases for any reason to be a Participating
Subsidiary. Participation in the Plan also terminates immediately when a Participant ceases to be
an Eligible Employee under Article V or withdraws from the Plan. Upon termination of
participation such terminated Participant’s outstanding options shall thereupon terminate. As
soon as administratively practical after termination of participation, the Company shall pay to the
Participant or legal representative all amounts accumulated in the Participant’s Account and held
by the Company at the time of termination of participation, and any Participating Subsidiary
shall pay to the Participant or legal representative all amounts accumulated in the Participant's
Account and held by the Participating Subsidiary at the time of termination of participation.
10.3 Leaves of Absence.
(a) If a Participant takes a leave of absence (other than an Authorized Leave
of Absence) without terminating employment, such Participant will be deemed to have
discontinued contributions to the Plan in accordance with Section 8.3, but will remain a
Participant in the Plan through the balance of the Accumulation Period in which his or her leave
of absence begins, so long as such leave of absence does not exceed 90 days. If a Participant
takes a leave of absence (other than an Authorized Leave of Absence) without terminating
employment, such Participant will be deemed to have withdrawn from the Plan in accordance
with Section 10.1 if such leave of absence exceeds 90 days.
(b) An Employee on an Authorized Leave of Absence shall remain a
Participant in the Plan and, in the case of a paid Authorized Leave of Absence, shall have
deductions made under Section 8.1 from payments that would, but for the Authorized Leave of
Absence, be Base Earnings. An Employee who does not return from an Authorized Leave of
Absence on the scheduled date (or, in the case of Qualified Military Leave, prior to the date such
individual’s reemployment rights under the Uniformed Services Employment and
Reemployment Rights Act of 1994 have expired or terminated) shall be deemed to have
terminated employment on the last day of such Authorized Leave of Absence (or, in the case of
Qualified Military Leave, the date such reemployment rights expire or are terminated).
(c) An “Authorized Leave of Absence” means (a) a Qualified Military Leave,
and (b) an Employee’s absence of more than 90 days which has been authorized, either pursuant
to a policy of the Company or the Participating Subsidiary that employs the Employee, or
pursuant to a written agreement between the employer and the Employee, which policy or
written agreement guarantees the Employee’s rights to return to employment.
10.4 Death. As soon as administratively feasible after the death of a Participant,
amounts accumulated in his or her Account shall be paid in cash to the beneficiary or
beneficiaries designated by the Participant on a beneficiary designation form approved by the