Waste Management 2014 Annual Report Download - page 73

option to purchase shares granted hereunder, and to make all other determinations necessary or advisable for
the administration of the Plan. The Committee’s actions and determinations with respect to the foregoing
shall be final, conclusive and binding on all persons. The act or determination of a majority of the members
of the Committee shall be deemed to be the act or determination of the entire Committee.
(b) The Committee may, in its discretion, request advice or assistance, or employ such other persons as
it deems necessary or appropriate for the proper administration of the Plan, including, but not limited to
employing a brokerage firm, bank or other financial institution to assist in the purchase of shares, delivery
of reports or other administrative aspects of the Plan.
5. Eligibility to Participate in the Plan.
Subject to limitations imposed by Section 423(b) of the Code, each Eligible Employee who is employed by
the Company or a Participating Subsidiary for 30 days prior to an Enrollment Date shall be eligible to participate
in the Plan for the Offering Period beginning on that Enrollment Date.
6. Election to Participate in the Plan.
(a) Each Eligible Employee may elect to participate in the Plan by completing an enrollment agreement
in the form provided by the Company and filing such enrollment agreement with the Company prior to the
applicable Enrollment Date, unless the Committee establishes another deadline for filing the enrollment
agreement with respect to a given Offering Period.
(b) Unless a Participant withdraws from participation in the Plan as provided in Section 10 or
authorizes a different payroll deduction by filing a new enrollment agreement prior to the Enrollment Date
of a succeeding Offering Period, a Participant who is participating in an Offering Period as of the Exercise
Date of such Offering Period shall be deemed to have (i) elected to participate in the immediately
succeeding Offering Period and (ii) authorized the same payroll deduction percentage for such immediately
succeeding Offering Period as was in effect for such Participant immediately prior to such succeeding
Offering Period.
7. Payroll Deductions.
(a) All Participant contributions to the Plan shall be made only by payroll deductions. Each time a
Participant files the enrollment agreement with respect to an Offering Period, the Participant shall authorize
payroll deductions to be made during the Offering Period in an amount from 1% to 10% (in whole
percentages) of the Eligible Compensation that the Participant receives on each payroll date during such
Offering Period. Payroll deductions for a Participant shall commence on the first payroll date following the
Enrollment Date and shall end on the last payroll date in the Offering Period to which such authorization is
applicable, unless sooner terminated by the Participant as provided below in Section 10.
(b) All payroll deductions made for a Participant shall be deposited in the Company’s general corporate
account and shall be credited to the Participant’s account under the Plan. No interest shall accrue on or be
credited with respect to the payroll deductions of a Participant under the Plan. A Participant may not make
any additional contributions into such account. 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.
(c) Except as provided in Section 10, a Participant may not change his contribution election during an
Offering Period.
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