Pep Boys 2010 Annual Report Download - page 52

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A-6
be in effect for the number of shares that may be purchased by a Participant on each Purchase Date, subject to the
accrual limitation under Article 9 below.
(e) Excess Payroll Deductions. Any payroll deductions that are not applied to the purchase of shares of
Common Stock on any Purchase Date because they are not sufficient to purchase a whole share of Common Stock
shall be held for the purchase of Common Stock on the next Purchase Date. However, any payroll deductions not
applied to the purchase of Common Stock by reason of the limitation on the maximum number of shares purchasable
per Participant shall be promptly refunded.
(f) Suspension of Payroll Deductions. In the event that a Participant is, by reason of the accrual
limitations in Article 9, precluded from purchasing additional shares of Common Stock on a Purchase Date, then no
further payroll deductions shall be collected from such Participant with respect to that Purchase Date. Payroll
deductions shall automatically resume on behalf of the Participant at the beginning of the first Offering Period in
which the Participant can again participate, unless terminated by the Participant as provided in Section 8(g) below.
(g) Withdrawal from Offering Period. The following provisions shall govern the Participant’s withdrawal
from an Offering Period:
(i) A Participant may withdraw from the Offering Period in which he or she is enrolled at any time
prior to the Purchase Date (or by such other date as the Plan Administrator determines) by filing the
appropriate form with the Plan Administrator (or its designee) within the time period required by the Plan
Administrator prior to the Purchase Date (or such other date as the Plan Administrator determines), and no
further payroll deductions shall be collected from the Participant with respect to that Offering Period. Any
payroll deductions collected during the Offering Period in which such withdrawal occurs shall, at the
Participant’s election, be promptly refunded or held for the purchase of shares on the Purchase Date. If no
such election is made at the time of such withdrawal, then the payroll deductions collected from the
Participant during the Offering Period in which such withdrawal occurs shall be promptly refunded.
(ii) The Participant’s withdrawal from an Offering Period shall be irrevocable, and the Participant
may not subsequently rejoin that Offering Period at a later date. In order to resume participation in any
subsequent Offering Period, the individual must re-enroll in the Plan (by making a timely filing of the
prescribed enrollment forms) on or before the beginning of that Offering Period.
(h) Termination of Purchase Right. The following provisions shall govern the termination of outstanding
purchase rights:
(i) If a Participant ceases to be an Eligible Employee for any reason (including death, disability or
change in status) while his or her purchase right remains outstanding, the Participant’s purchase right shall
immediately terminate, and all of the Participant’s payroll deductions for the Offering Period in which the
purchase right so terminates shall be promptly refunded to the Participant.
(ii) If a Participant ceases to remain in active service by reason of an approved unpaid leave of
absence, then the Participant shall have the right, exercisable at any time prior to the Purchase Date (or by
such other date as the Plan Administrator determines), to (A) withdraw all the payroll deductions collected to
date on his or her behalf for that Offering Period or (B) have such funds held for the purchase of shares on his
or her behalf on the Purchase Date. In no event, however, shall any further payroll deductions be collected on
the Participant’s behalf during such leave. Upon the Participant’s return to active service (x) within three (3)
months following the commencement of such leave or (y) prior to the expiration of any longer period for
which such Participant is provided with reemployment rights by statute or contract, his or her payroll
deductions under the Plan shall automatically resume at the rate in effect at the time the leave began, unless
the Participant withdraws from the Plan prior to his or her return. An individual who returns to active
employment following a leave of absence which exceeds in duration the applicable (x) or (y) time period will
be treated as a new Eligible Employee for purposes of subsequent participation in the Plan and must