NetSpend 2011 Annual Report Download - page 130

Administrator may delegate ministerial duties to such of the Company’s other employees, outside entities and outside professionals as the Plan
Administrator so determines.
15.
Death of Participant . If Participant dies, the Company shall deliver any Shares and cash in the Participant’
s Account to the
executor or administrator of the estate of the Participant or, if no such executor or administrator has been appointed (to the knowledge of the
Company), the Company, in its discretion, may deliver such Shares and/or cash to the spouse or to any one or more dependents or relatives of
the Participant, or if no spouse, dependent or relative is known to the Company, then to such other person as the Company may designate.
16. Transferability . Neither Contributions credited to a Participant’s Account nor any rights with regard to the exercise of an
Option may be assigned, transferred, pledged or otherwise disposed of in any way (other than as provided in Section 15) by the Participant or
any person entitled to the Account balance or such rights under Section 15. Any such attempt at assignment, transfer, pledge or other
disposition shall be without effect, except that the Company may treat such act as an election by the Participant to withdraw from the Plan in
accordance with Section 10. Furthermore, no balance in a Participant’s Account or Shares that have not been delivered shall be subject to any
debts, contracts, liabilities, engagements or torts of the Participant or any person entitled to the Account balance or such Shares under
Section 15.
17.
Use of Funds . All Contributions received or held by the Company under the Plan may be used by the Company for any
corporate purpose; and the Company shall not be obligated to segregate such Contributions. The Plan is unfunded and shall not create nor be
construed to create a trust or separate fund of any kind or a fiduciary relationship among the Company, the Board, the Committee, the Plan
Administrator and any Participant. To the extent a Participant acquires a right to receive payment from the Company pursuant to the Plan, such
right shall be no greater than the right of any unsecured general creditor of the Company.
18. Reports . Account statements will be made available (at times directed by the Plan Administrator) to participating
Employees by the Company and/or the ESPP Broker. For each Contribution Period, those statements will set forth the amounts of
Contributions, the per Share Purchase Price, the number of Shares purchased, the remaining Account balance, if any, and the balance of any
ESPP Broker account.
19.
Amendment or Termination of Plan .
(a)
General Authority; Mandatory Termination . The Committee may at any time terminate the Plan and may from
time to time amend the Plan in any manner it deems necessary or advisable; provided, however, that no such action shall adversely affect any
Options then outstanding under the Plan unless such action is required to comply with Applicable Laws; and provided, further, that no such
action of the Committee shall be effective without the approval of Issuer’s shareholders if such approval is required by Applicable Laws. The
Plan was approved by the Board on October 20, 2011 and the Plan will automatically terminate if it is not approved by the stockholders of
Issuer at the first annual meeting of the stockholders of Issuer held following the Board’s approval of the Plan, with any such termination to be
effective on the date of such meeting. Upon any termination of the Plan, any balance in a Participant’
s Account shall be refunded to him or her
as soon as practicable thereafter, unless the Committee terminates the Plan on a Purchase Date or by the Committee’s setting a New Purchase
Date with respect to a Contribution Period then in progress.
(b)
Administrative Amendments and Similar Actions
. Without shareholder approval and without regard to whether
any Participant rights may be considered to have been adversely