Alaska Airlines and Horizon Air 2009 Annual Report Download - page 91

NOTICES
All notices or other communications by a Participant to the Company contemplated by this
Plan shall be deemed to have been duly given when received in the form and manner
specified by the Committee (or its delegate) at the location, or by the person, designated
by the Committee (or its delegate) for that purpose.
CONDITIONS UPON ISSUANCE OF SHARES
This Plan, the granting of Options under this Plan and the offer, issuance and delivery of
shares of Common Stock are subject to compliance with all applicable federal and state
laws, rules and regulations (including but not limited to state and federal securities laws)
and to such approvals by any listing, regulatory or governmental authority as may, in the
opinion of counsel for the Company, be necessary or advisable in connection therewith.
The person acquiring any securities under this Plan will, if requested by the Company and
as a condition precedent to the exercise of his or her Option, provide such assurances
and representations to the Company as the Committee may deem necessary or desirable
to assure compliance with all applicable legal requirements.
PLAN CONSTRUCTION
Section 16. It is the intent of the Company that transactions involving Options under this
Plan (other than “Discretionary Transactions” as that term is defined in Rule 16b-3(b)(1)
promulgated by the Commission under Section 16 of the Exchange Act, to the extent
there are any Discretionary Transactions under this Plan), in the case of Participants who
are or may be subject to the prohibitions of Section 16 of the Exchange Act, satisfy the
requirements for exemption under Rule 16b-3(c) promulgated by the Commission under
Section 16 of the Exchange Act to the maximum extent possible. Notwithstanding the
foregoing, the Company shall have no liability to any Participant for Section 16
consequences of Options or other events with respect to this Plan.
Section 423. Except as the Committee may expressly provide in the case of one or more
sub-plans adopted pursuant to Section 12(b), this Plan and Options are intended to
qualify under Section 423 of the Code. Accordingly, all Participants are to have the same
rights and privileges (within the meaning of Section 423(b)(5) of the Code and except as
not required thereunder to qualify this Plan under Section 423) under this Plan, subject to
differences in Compensation among Participants and subject to the Contribution and
share limits of this Plan.
Interpretation. If any provision of this Plan or of any Option would otherwise frustrate or
conflict with the intents expressed above, that provision to the extent possible shall be
interpreted so as to avoid such conflict. If the conflict remains irreconcilable, the
Committee may disregard the provision if it concludes that to do so furthers the interest
of the Company and is consistent with the purposes of this Plan as to such persons in
the circumstances.
EMPLOYEES’ RIGHTS
No Employment Rights. Nothing in this Plan (or in any Subscription Agreement or other
document related to this Plan) will confer upon any Eligible Employee or Participant any
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