Waste Management 2014 Annual Report Download - page 76
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In the event that the Plan terminates under circumstances described in Section 15(a) above, reserved shares
remaining as of the termination date shall be sold to Participants on a pro rata basis.
16. Notices.
All notices or other communications by a Participant to the Company under or in connection with the Plan
shall be deemed to have been duly given when received in the form specified by the Company at the location, or
by the person, designated by the Company for the receipt thereof.
17. Shareholder Approval.
The Plan shall be subject to approval by the shareholders of the Company within twelve months after the
date the Plan is adopted by the Board of Directors. If such shareholder approval is not obtained prior to the first
Exercise Date, the Plan shall be null and void and all Participants shall be deemed to have withdrawn all payroll
deductions credited to their accounts on such Exercise Date pursuant to Section 10.
18. Conditions Upon Issuance of Shares.
(a) The Plan, the grant and exercise of options to purchase shares of Common Stock under the Plan,
and the Company’s obligation to sell and deliver shares upon the exercise of options to purchase shares shall
be subject to all applicable federal, state and foreign laws, rules and regulations, and to such approvals by
any regulatory or governmental agency as may, in the opinion of counsel for the Company, be required.
Notwithstanding anything in the Plan to the contrary, share certificates shall not be delivered to Participants
until the later of (i) the date on which the applicable holding period to avoid a disqualifying disposition
(within the meaning of Code Section 421) expires, or (ii) the date that a Participant specifically requests a
certificate for shares purchased pursuant to the Plan.
(b) The Company may make such provisions, as it deems appropriate, for withholding by the Company
pursuant to all applicable tax laws of such amounts as the Company determines it is required to withhold in
connection with the purchase or sale by a Participant of any Common Stock acquired pursuant to the Plan.
The Company may require a Participant to satisfy any relevant tax requirements before authorizing any
issuance of Common Stock to such Participant.
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