NetSpend 2011 Annual Report Download - page 125

paychecks after the Commencement Date for that Contribution Period and allocated to his or her Account as Contributions to the Plan.
(b)
Payroll Contributions . Payroll deductions for a Contribution Period shall commence from the first payroll
following the Commencement Date for such Period and shall end on the last payroll paid on or before the Purchase Date of the Contribution
Period, unless sooner terminated as provided in Section 10. A Participant who has elected to participate during a Contribution Period shall
automatically participate in future Contribution Periods at the same rate of Contributions until the Participant’
s rate of Contributions is changed
pursuant to Section 6, or the Participant withdraws from the Plan or ceases to be an Employee as provided in Section 10.
6. Method of Payment of Contributions .
(a)
Contribution Amounts . Subject to the limitations of Sections 3(b) and 11, a Participant shall elect to have
Contributions made as payroll deductions on each payday during the Contribution Period in any percentage of his or her Compensation that is
not less than 1% and not more than 20% (or such other maximum percentage as the Committee may establish from time to time before any
Commencement Date) of such Participant’s Compensation on each payday during the Contribution Period. Contribution amounts shall be
withheld in whole percentages only.
(b)
Accounts . Accounts will be maintained for each Participant in the Plan. All payroll deductions made by a
Participant as Contributions shall be credited to his or her Account. A Participant may not make any additional payments into his or her
Account. A Participant’s Account balance shall remain the property of the Participant at all times, subject to the limitations of Sections 16 and
17, but the funds deducted from his or her paychecks may be commingled with the general funds of the Company, except to the extent such
commingling may be prohibited by any Applicable Laws. No interest shall accrue on the Contributions or the Account balance of a Participant
in the Plan, unless otherwise determined necessary by the Plan Administrator for the Accounts of Participants in any portion of the Plan that is
not intended to qualify under Code Section 423.
(c)
Contribution Changes by a Participant .
(i)
A Participant may discontinue his or her participation in the Plan as provided in Section 10. A Participant
who enrolls in the Plan and thereafter discontinues his or her participation in the Plan may not re-enroll in the Plan until the two consecutive
Contribution Periods following the Contribution Period in which such discontinuation was effective shall have elapsed. For purposes of the
foregoing, a change in a Participant’s payroll deduction rate to less than 1% shall be treated as an election by the Participant to discontinue his
or her participation in the Plan.
(ii) Unless otherwise provided by the Plan Administrator, a Participant may increase or decrease the payroll
deduction rate applicable to his or her Contributions by following such administrative procedures as may be established by the Plan
Administrator. The rate adjustment shall be effective as soon as administratively feasible.
(d) Contribution Changes by the Company . Notwithstanding the foregoing, to the extent necessary to comply with
Section 3(b), Section 11 and Code Section 423(b)(8), the Plan Administrator may in its sole discretion direct the Company to reduce a
Participant’s payroll deductions for Contributions during any Contribution Period. If that occurs, any such Participant’s payroll deductions
shall re-commence, at the Contribution rate provided in the Participant’s most recently submitted enrollment materials, at the beginning of the
first Contribution Period that is scheduled to end