Oracle 2009 Annual Report Download - page 151

8. EXERCISE OPTION
Unless a participant withdraws from the Plan as provided in Section 10, his or her option for the purchase of shares will be exercised automatically on the
Exercise Date of the Offering Period and the maximum number of full shares subject to option will be purchased for him or her at the applicable option price
with the accumulated payroll deductions or contributions in his or her account. During his or her lifetime, a participant’s option to purchase shares hereunder is
exercisable only by him or her.
9. DELIVERY
(a) As promptly as practicable after the Exercise Date of each Offering Period, the Company shall arrange for the electronic delivery to each participant, as
appropriate, of the shares purchased upon exercise of his or her option. Any cash remaining to the credit of a participant’s account under the Plan after a purchase
by him or her of shares at the termination of each Offering Period under the Plan which is insufficient to purchase a full share of Common Stock, will be
refunded, without interest, to him or her as soon as practicable. The Board also may return cash remaining in each participant’s payroll deduction or contribution
account if a purchase of shares will not occur because the Board determines such purchase is not feasible or that the conditions for the issuance of shares have not
been met.
(b) In the event that insufficient shares of Common Stock are available under the Plan for delivery to all participants in an Offering Period for shares of
Common Stock representing a full allocation of all payroll deductions or contributions for such Offering Period, the Board, in its discretion, may authorize either
(i) the delivery of shares of Common Stock representing a pro rata allocation of the shares remaining available for distribution and the return of cash remaining in
each participant’s payroll deduction account in accordance with Section 9(c), or (ii) an increase in the number of shares that may be issued under the Plan subject
to stockholder approval, and, in such event, the option price applicable to such shares shall be for purposes of Section 7(b) the option price for such Offering
Period, and the Company shall deliver to participants such shares as set forth in Sections 7, 8, and 9, after approval of the stockholders of Oracle has been
obtained in accordance with Section 21. If the stockholders of Oracle vote against any such proposed increase, Oracle shall make a pro rata allocation of the
shares available for distribution and return cash remaining in each participant’s payroll deduction or contribution account, without interest unless required by
local law as determined by the Board.
(c) In the event of a pro rata allocation of shares in accordance with Section 9(b), the Company shall give written notice of such reduction of the number of
shares subject to the option to each Employee affected thereby and, at the discretion of the Board, shall terminate or reduce payroll deductions before the
Exercise Date if the Board has
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Source: ORACLE CORP, 10-K, July 01, 2010 Powered by Morningstar® Document Research℠