Pep Boys 2010 Annual Report Download - page 50

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A-4
class of securities issuable under the Plan, (ii) the maximum number and class of securities purchasable per
Participant on any Purchase Date, and (iii) the number and class of securities and the price per share in effect under
each outstanding purchase right, in order to prevent the dilution or enlargement of benefits thereunder. The
adjustments shall be made in such manner as the Plan Administrator deems appropriate and such adjustments shall
be final, binding and conclusive.
5. OFFERING PERIODS
(a) Limitations. Shares of Common Stock shall be offered for purchase under the Plan through a series of
consecutive Offering Periods until such time as the Plan terminates as set forth in Section 10(b).
(b) Duration of Offering Period. Each Offering Period shall be of such duration (not to exceed twenty-
seven months) as shall be determined by the Plan Administrator prior to the beginning of such Offering Period.
Unless the Plan Administrator determines otherwise before the beginning of the Offering Period, Offering Periods
shall commence at three-month intervals on the first day of each January, April, July and October (or the next
business day, if such date is not a business day) over the term of the Plan, and each Offering Period shall last for
three months, ending on the last day of March, June, September and December, as the case may be (or the next
business day, if such date is not a business day). Accordingly, four separate Offering Periods shall commence in
each calendar year during which the Plan remains in existence, unless the Plan Administrator determines otherwise.
The first Offering Period under the Plan shall commence on October 3, 2011.
(c) Plan Administrator Discretion. Notwithstanding the foregoing, the Plan Administrator may establish
shorter or longer Offering Periods, before the beginning of the applicable Offering Period, as the Plan Administrator
deems appropriate.
6. ELIGIBILITY
(a) Commencement of Participation. Each individual who is an Eligible Employee on the start date of
any Offering Period under the Plan may enter that Offering Period on such start date.
(b) Limitation on Participation. Under no circumstances shall purchase rights be granted under the Plan
to any Eligible Employee if such individual would, immediately after the grant, own (within the meaning of Code
section 424(d)) or hold outstanding options or other rights to purchase, stock possessing five percent or more of the
total combined voting power or value of all classes of stock of the Company or any Company Affiliate.
(c) Enrollment Forms. In order to participate in the Plan for a particular Offering Period, an Eligible
Employee must complete the enrollment forms prescribed by the Plan Administrator (including a stock purchase
agreement and a payroll deduction authorization) and file such forms with the Plan Administrator (or its designee) at
such time prior to the beginning of that Offering Period, as determined by the Plan Administrator. An Eligible
Employee who is actively participating in the Plan shall automatically be enrolled as a Participant for the next
Offering Period, unless the Eligible Employee elects otherwise by filing the appropriate form with the Plan
Administrator (or its designee) at such time prior to the beginning of the next Offering Period as determined by the
Plan Administrator.
7. PAYROLL DEDUCTIONS
(a) Elections. The payroll deduction authorized by the Participant for purposes of acquiring shares of
Common Stock during an Offering Period may be any multiple of one percent (1%) of the Cash Compensation paid
to the Participant during each Offering Period, up to a maximum of ten percent (10%) of Cash Compensation, unless
the Plan Administrator determines otherwise. The deduction rate so authorized shall continue in effect throughout
the Offering Period, except to the extent such rate is changed in accordance with the following guidelines: