Adaptec 2006 Annual Report Download - page 179

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6. Restrictions on Shares. The Administrator may place restrictions on the transferability of Shares acquired pursuant to an Option as it deems appropriate
in its sole discretion, including, without limitation, (i) rights to repurchase upon termination as an Employee, (ii) rights of first refusal, and (iii) market lock-up
provisions.
7. Corporate Transaction. Notwithstanding the provisions of the Plan, if the successor corporation (or its Parent) in a transaction described in Section 14(c)
of the Plan intends to assume or substitute each outstanding Option and the rules and regulations governing Options granted to Employees in India (the “Indian
Options”) do not permit assumption or substitution of Indian Options in the same manner as the other Options then the Administrator, in its discretion, may
provide for the termination of the Indian Options upon the consummation of the transaction or provide for the assumption or substitution of the Indian Options in
a different manner than the assumption or substitution of the other Options.
8. Stockholder Approval. The Plan (and therefore the authority of the Administrator to adopt this Appendix B) will be subject to approval by the
stockholders of the Company as provided in Section 16(b) of the Plan as well as approval of the Shareholders of the Indian Subsidiary in a Shareholders meeting
immediately following the meeting of the Board of Directors of the Indian Subsidiary in which the Appendix is adopted.
9. Compliance with Regulatory Provisions of India. This Appendix shall be subject to Applicable India Law. The Employees shall be bound to comply
with such requirements of law as may be necessary in the opinion of the Indian Subsidiary. In particular but without prejudice to the generality of the above, the
provisions in the Plan, relating to exercise of Options, payment for the same, sale of Shares consequent to the exercise of the Options shall be subject to the
provisions of the Foreign Exchange Management Act, 1999 and the Rules and Regulations made thereunder.
10. Tax Liability. If any tax or other liability arises to the Company or the Indian Subsidiary on account of the Employee’s participation pursuant under the
India Plan, the Employees shall be liable to reimburse the Company or the Indian Subsidiary, such amount as may arise to the Company or the Indian Subsidiary
on account of the Employee’s participation. The Indian Subsidiary shall also be entitled to withhold such amounts from the salary or other amounts due to the
Employee on account of salary, remuneration or otherwise and, if necessary, remit the same to the Company.
11. Effective Date. This Appendix shall be effective from April 1, 2006.
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Source: PMC SIERRA INC, 10-K, March 01, 2007 Powered by Morningstar® Document Research℠