Oracle 2009 Annual Report Download - page 150

(e) A participant may discontinue his or her participation in the Plan as provided in Section 10, or may increase or decrease the rate of his or her payroll
deductions during the Offering Period by completing and filing with the Company a new authorization for payroll deduction; provided that the Board may limit
the number of times during any Offering Period that a participant may so increase or decrease such participant’s deductions. The change in rate shall be effective
on the later of (i) fifteen (15) days after the Company’s receipt of the new authorization, or (ii) the first payday after the Company’s receipt of the new
authorization.
(f) Notwithstanding the foregoing, an Employee’s payroll deductions (and/or direct contributions, if applicable) shall be decreased down to 0% during any
Offering Period to the extent necessary to comply with Section 423(b)(8) of the Code. Any other provision of the Plan notwithstanding, no participant shall
purchase shares of Common Stock under this Plan and all other employee stock purchase plans of the Company or any parent or Subsidiary of the Company with
an aggregate fair market value (measured as of the applicable Offering Date) in excess of $25,000, as determined in accordance with Section 423(b)(8) of the
Code and the regulations thereunder.
(g) The limitation set forth in Section 6(f) may be adjusted by the Board in its discretion to the extent necessary to comply with Section 423 of the Code.
(h) In the event payroll deductions are decreased pursuant to Section 6(f) hereof, payroll deductions shall recommence at the rate provided in such
participant’s subscription agreement at the beginning of the first Offering Period which is scheduled to end in the following calendar year, unless terminated by
the participant as provided in Section 10. At any time, the Company may withhold from the participant’s Compensation the amount necessary for the Company
to meet applicable withholding obligations, including any withholding required to make available to the Company any tax deductions or benefit attributable to
sale or early disposition of Common Stock by the Employee.
7. GRANT OF OPTION
(a) On the Offering Date of each Offering Period, each eligible Employee participating in the Plan shall be granted an option to purchase (at the per share
option price) up to a number of shares of Common Stock determined by dividing such Employee’s payroll deductions or contributions to be accumulated during
such Offering Period by ninety-five percent (95%) of the fair market value of a share of Common Stock on the Exercise Date, provided that the number of shares
subject to the option will be limited to 200% of the number of shares determined by dividing the amount accumulated in the employees’ payroll
deductions/contribution account by 95% of the fair market value of a share of Common Stock on the Offering Date, subject to the limitations set forth in Sections
3(b) and 11 hereof. The fair market value of a share of Common Stock shall be determined as provided in Section 7(b) hereof.
(b) The option price per share of the shares offered in a given Offering Period shall be 95% of the fair market value of a share of the Common Stock on the
Exercise Date. The fair market value of Common Stock on a given date shall be the closing price from the previous day’s trading on the Nasdaq National Market.
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Source: ORACLE CORP, 10-K, July 01, 2010 Powered by Morningstar® Document Research℠