Oracle 2009 Annual Report Download - page 152

determined that insufficient shares are available for a full allocation. Any cash remaining in a participant’s payroll deduction/contribution account due to an
insufficient number of shares remaining in the Plan for distribution to all participating Employees shall be returned to him or her as soon as administratively
feasible.
10. WITHDRAWAL: TERMINATION OF EMPLOYMENT
(a) A participant may withdraw all but not less than all the payroll deductions credited to his or her account under the Plan at any time prior to the Exercise
Date of the Offering Period by returning to the Company an enrollment form indicating such withdrawal prior to the fifteenth (15th) day of the last month of the
Offering Period. If such form is received by the Company before such date, all of the participant’s payroll deductions credited to his or her account will be
refunded, without interest (except where required by local law as determined by the Board), to him or her as soon as practicable, his or her option for the then
current Offering Period will be automatically terminated, and no further payroll deductions for the purchase of shares will be made during the Offering Period. If
such form is received by the Company after such date, the participant’s payroll deductions credited to his or her account will be used to purchase stock on the
next Exercise Date and his or her participation will end at the beginning of the next Offering Period.
(b) In the event that a participant’s employment terminates for any reason (including death, disability, or retirement), or if a participant becomes ineligible
to participate in the Plan, in either case, on or prior to the fifteenth (15th) day of the last month of an Offering Period, the payroll deductions credited to his or her
account will be returned promptly and without interest (except where required by local law as determined by the Board) to him or her or, in the case of his or her
death, to the executor or administrator of the estate of the participant, and his or her option will be automatically terminated. In the event that a participant’s
employment terminates for any reason or a participant becomes ineligible to participate in the Plan after such date, the participant’s payroll deductions credited to
his or her account will be used to purchase stock on the Exercise Date for that Offering Period and his or her participation will end at the beginning of the next
Offering Period.
(c) In the event an Employee fails to remain an Employee during the entire Offering Period, other than as set forth in Section 10(d) below, he or she will be
deemed to have elected to withdraw from the Plan and the payroll deductions credited to his or her account will be returned to him or her promptly and without
interest (except where required by local law as determined by the Board) and his or her option will be automatically terminated.
(d) In the event that an Employee takes an unpaid leave of absence, his or her payroll deductions shall automatically cease (and no additional contributions
to the Plan may be made unless participation is required by local law while on unpaid leave); any amounts remaining in his or her payroll deduction account shall
be used to purchase stock on the next Exercise Date. Paid leaves of absence shall have no effect an Employee’s participation in the Plan.
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Source: ORACLE CORP, 10-K, July 01, 2010 Powered by Morningstar® Document Research℠