Oracle 2009 Annual Report Download - page 149

Board) and filing it no later than the first day of an applicable Offering Period (or such earlier time as may be set by the Company’s employee stock services
department for administrative purposes) with (i) the Company’s employee stock services department for eligible Employees employed by Oracle or (ii) the
officer of the applicable Participating Subsidiary or Participating Affiliate responsible for administering the Plan on Oracle’s behalf for eligible Employees
employed by any such Participating Subsidiary or Participating Affiliate. Subscription agreements filed by the participants under the 1987 Plan may be used to
satisfy the subscription agreement requirements of the Plan. Once an Employee becomes a participant in the Plan, such Employee will automatically participate
in successive Offering Periods until such time as such Employee withdraws from the Plan, and is not required to file any additional subscription amendments for
subsequent Offering Periods to continue participation in the Plan.
(b) Payroll deductions for a participant shall commence on the first payday following the Offering Date and shall end on the last payday before the
Exercise Date of the Offering Period to which such authorization is applicable, unless sooner terminated by the participant as provided in Section 10 or unless
payroll deductions are determined by the Board to not be feasible in countries outside the United States.
6. PAYROLL DEDUCTIONS
(a) At the time a participant files his or her subscription agreement, he or she shall elect to have payroll deductions made on each payday during the
Offering Period in an amount not less than one percent (1%) and not exceeding any whole number percentage up to ten percent (10%) (or such greater
percentage, as specified by the Board) of the Compensation which he or she receives on each payday during the Offering Period. If the Board determines that
payroll deductions are not feasible in a particular country outside the United States, the Board may permit an eligible Employee to participate in the Plan by an
alternative means, such as by check; however, the percentage of Compensation available for contributions must comply with the first sentence of this
Section 6(a).
(b) No interest shall be paid or credited to the participant with respect to such payroll deductions except where required by local law as determined by the
Board.
(c) All payroll deductions made by a participant shall be credited to his or her account under the Plan. A participant may not make any additional payments
into such account, except as authorized by the Board in countries where payroll deductions are determined by the Board to not be feasible.
(d) Unless otherwise specified by the Board, payroll deductions made with respect to Employees paid in currencies other than U.S. dollars shall be
accumulated in local (non-U.S.) currency and converted to U.S. dollars as of the Exercise Date.
4
Source: ORACLE CORP, 10-K, July 01, 2010 Powered by Morningstar® Document Research℠