SkyWest Airlines 2008 Annual Report Download - page 147

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Participant’s death, the estate of the Participant, and the Participant’s option will be automatically
terminated. A Participant’s status as an Employee shall not be considered terminated in the case of a
leave of absence agreed to in writing by the Company or a Designated Subsidiary (including but not
limited to, military and sick leave), provided that such leave is for a period of not more than six
(6) months or reemployment upon expiration of such leave is guaranteed by contract or statute.
9.3. A Participant’s withdrawal from an offering will not have any effect upon such Participant’s
eligibility to participate in a subsequent offering.
10. DIVIDENDS
10.1. Cash dividends paid on Common Stock held in a Participant’s Account shall be distributed to
Participants as soon as practicable. Dividends paid in Common Stock or stock splits of the Common
Stock shall be credited to the Accounts of Participants. Dividends paid on Common Stock in property
(other than cash or Common Stock) shall be distributed to Participants as soon as practicable.
10.2. No interest shall accrue on or be payable with respect to the payroll deductions or credited
cash dividends of a Participant in the Plan.
11. ADMINISTRATION
Except for those rights and powers expressly reserved to the Board and Committee hereunder, the
Plan shall be administered by the Plan Administrator, and the Plan Administrator may select a third
party administrator to whom some or all of its duties and responsibilities hereunder may be delegated.
The Plan Administrator shall have full power and authority, subject to the provisions of the Plan, to
promulgate such rules and regulations as it deems necessary for the proper administration of the Plan,
to interpret the provisions and supervise the administration of the Plan, and to take all action in
connection therewith or in relation thereto as it deems necessary or advisable. The determination of
the Plan Administrator or Committee, as applicable, on any matters relating to the Plan shall be final,
binding and conclusive. The Company will pay all expenses incurred in the administration of the Plan.
No member of the Committee or individual acting on behalf of the Plan Administrator shall be
personally liable for any action, determination, or interpretation made in good faith with respect to the
Plan, and all members of the Committee and individuals acting on behalf of the Plan Administrator
shall be fully indemnified by the Company with respect to any such good faith action, determination or
interpretation.
12. NO TRANSFERABILITY
Neither payroll deductions credited to a Participant’s Account nor any rights with regard to the
exercise of an option or to receive shares of Common Stock under the Plan may be assigned,
transferred, pledged or otherwise disposed of in any way (other than by will or the laws of descent and
distribution) by the Participant. Any such attempt at assignment, transfer, pledge or other disposition
shall be without effect, except that the Plan Administrator may treat such act as an election to
withdraw funds in accordance with Section 9.
13. USE OF FUNDS
All payroll deductions 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 payroll
deductions.
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