Common use of Duration of Participation Clause in Contracts

Duration of Participation. Once enrolled in the Plan, a Participant shall continue to participate in the Plan until he or she ceases to be an Eligible Employee or withdraws from the Plan under Section 6(a). A Participant who withdrew from the Plan under Section 6(a) may again become a Participant, if he or she then is an Eligible Employee, by following the procedure described in Subsection (b) above. A Participant whose employee contributions were discontinued automatically under Section 9(b) shall automatically resume participation at the beginning of the earliest Offering Period ending in the next calendar year, if he or she then is an Eligible Employee. When a Participant reaches the end of an Offering Period but his or her participation is to continue, then such Participant shall automatically be re-enrolled for the Offering Period that commences immediately after the end of the prior Offering Period.

Appears in 3 contracts

Samples: Employee Stock Purchase Plan (Lucid Group, Inc.), Employee Stock Purchase Plan (Lucid Group, Inc.), Lucid Group, Inc.

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Duration of Participation. Once enrolled in the Plan, a Participant shall continue to participate in the Plan until he or she the Participant ceases to be an Eligible Employee or withdraws from the Plan under Section 6(a). A Participant who withdrew withdraws from the Plan under Section 6(a) may again become a Participant, if he or she the Participant then is an Eligible Employee, by following the procedure described in Subsection (bSection 4(b) above. A Participant whose employee contributions were discontinued automatically under Section 9(b) shall automatically resume participation at the beginning of the earliest Offering Period ending in the next calendar year, if he or she the Participant then is an Eligible Employee. When Except as otherwise provided in the terms and conditions of an Offering, when a Participant reaches the end of an Offering Period but his or her the Participant’s participation is to continue, then such Participant shall automatically be re-enrolled for the Offering Period that commences immediately after the end of the prior Offering Period.

Appears in 1 contract

Samples: Business Combination Agreement (Pathfinder Acquisition Corp)

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