Adaptec 2006 Annual Report Download - page 163

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(ix) to prescribe, amend and rescind rules and regulations relating to the Plan, including rules and regulations relating to sub-plans
established for the purpose of qualifying for preferred tax treatment under foreign tax laws;
(x) to modify or amend each Option, Stock Purchase Right or Restricted Stock Unit (subject to Section 17(c) of the Plan);
(xi) to authorize any person to execute on behalf of the Company any instrument required to effect the grant of an Option, Stock Purchase
Right or Restricted Stock Unit previously granted by the Administrator;
(xii) to institute an Option Exchange Program;
(xiii) to determine the terms and restrictions applicable to Options and Stock Purchase Rights and any Restricted Stock and Restricted Stock
Units; and
(xiv) to make all other determinations deemed necessary or advisable for administering the Plan.
(c) Effect of Administrator’s Decision. The Administrator’s decisions, determinations and interpretations shall be final and binding on all Optionees
and any other holders of Options, Stock Purchase Rights or Restricted Stock Units.
5. Eligibility.
(a) Nonstatutory Stock Options, Stock Purchase Rights and Restricted Stock Units may be granted to Employees and Consultants. If otherwise
eligible, an Optionee who has been granted an Option, Stock Purchase Right or Restricted Stock Unit may be granted additional Options, Stock Purchase Rights
or Restricted Stock Units.
6. Limitations.
(a) Each Option shall be designated in the Notice of Grant as a Nonstatutory Stock Option.
(b) Neither the Plan nor any Option, Stock Purchase Right or Restricted Stock Unit shall confer upon an Optionee any right with respect to
continuing the Optionee’s employment, consulting or director relationship with the Company, nor shall they interfere in any way with the Optionee’s right or the
Company’s right to terminate such relationship at any time, with or without cause.
(c) The following limitations shall apply to grants of Options and Stock Purchase Rights to Employees:
(i) No Employee shall be granted, in any fiscal year of the Company, Options and Stock Purchase Rights to purchase more than 800,000
Shares.
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Source: PMC SIERRA INC, 10-K, March 01, 2007 Powered by Morningstar® Document Research℠