Coach 2001 Annual Report Download - page 101

(a) If a Participant ceases to be eligible under Section 3.1 above
for any reason, the amount in such Participant's Plan Account will be refunded
to the Participant or
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his or her designated beneficiary or estate within 21 days of his or her
termination of employment or other cessation of eligibility.
(b) Upon payment by the Company to the Participant or his or her
beneficiary or estate of the remaining balance, if any, in Participant's Plan
Account, the Participant's interest in the Plan and the Participant's option
under the Plan shall terminate.
ARTICLE VII.
GENERAL PROVISIONS
7.1 Condition of Employment. Neither the creation of the Plan nor an
Employee's participation therein shall be deemed to create a contract of
employment, any right of continued employment or in any way affect the right of
the Company or a Subsidiary to terminate an Employee at any time with or without
cause.
7.2 Amendment of the Plan
(a) The Board may, in its sole discretion, amend, suspend or
terminate the Plan at any time and from time to time; provided, however, that
without approval of the Company's stockholders given within 12 months before or
after action by the Board, the Plan may not be amended to increase the maximum
number of shares subject to the Plan or change the designation or class of
Eligible Employees.
(b) Upon termination of the Plan, the balance in each Participant's
Plan Account shall be refunded within 21 days of such termination.
7.3 Use of Funds; No Interest Paid. All funds received by the Company
by reason of purchase of Common Stock under this Plan will be included in the
general funds of the Company free of any trust or other restriction and may be
used for any corporate purpose. No interest will be paid to any Participant or
credited under the Plan.
7.4 Effective Date; Term; Approval by Stockholders. The Plan shall
become effective as of the first date that both (a) the Board has approved the
Plan and (b) the stockholders of the Company have approved the Plan by a vote
sufficient to meet the requirements of Section 423(b)(2) of the Code; provided
that such stockholder approval occurs within 12 months following the date the
Board approves the Plan. Options may be granted prior to such stockholder
approval; provided, however, that such options may not be exercisable prior to
the date the Plan is approved by the Company's stockholders. In the event that
the stockholders fail to so approve the Plan, any options granted under the Plan
may be cancelled, all payroll deductions shall be cancelled and the Plan shall
be terminated. Except as otherwise provided by this Section 7.4, the Plan shall
terminate on the tenth anniversary of the date of its initial approval by the
stockholders of the Company or such earlier date as may be established by action
of the Board. No option may be granted during any period of suspension of the
Plan nor after termination of the Plan.
7.5 Effect Upon Other Plans. The adoption of the Plan shall not affect
any other compensation or incentive plans in effect for the Company or any
Subsidiary. Nothing in
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this Plan shall be construed to limit the right of the Company or any Subsidiary
(a) to establish any other forms of incentives or compensation for employees of
the Company or any Subsidiary, or (b) to grant or assume options otherwise than
under this Plan in connection with any proper corporate purpose, including, but
not by way of limitation, the grant or assumption of options in connection with