Example ContractsClausesequal and ratable benefitVariants
Equal and Ratable Benefit
Equal and Ratable Benefit contract clause examples

Equal Rights and Privileges. All eligible employees shall have equal rights and privileges with respect to this Plan so that this Plan qualifies as an "employee stock purchase plan" within the meaning of [Section 423] or any successor provision of the Code and the related regulations. Any provision of this Plan which is inconsistent with [Section 423] or any successor provision of the Code shall, without further act or amendment by the Company, the Administrator or the Board, be reformed to comply with the requirements of [Section 423]. This Section 17 shall take precedence over all other provisions in this Plan.

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Equal Rights and Privileges. All Eligible Employees shall have equal rights and privileges with respect to the Plan so that the Plan qualifies as an "employee stock purchase plan" within the meaning of [Section 423] or any successor provision of the Code and the related regulations. Notwithstanding the express terms of the Plan, any provision of the Plan which is inconsistent with [Section 423] or any successor provision of the Code shall without further act or amendment by the Company or the Board be reformed to comply with the requirements of Code Section 423. This [Section 11.5] shall take precedence over all other provisions in the Plan.

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