SanDisk 2010 Annual Report Download - page 112

held for the purchase of Common Stock on the next Purchase Date. However, any payroll deductions not applied
to the purchase of Common Stock by reason of the limitation on the maximum number of shares purchasable per
Participant on the Purchase Date shall be refunded as soon as administratively practicable.
F. Suspension of Payroll Deductions. If a Participant is, by reason of the accrual limitations in Article VIII,
precluded from purchasing additional shares of Common Stock on one or more Purchase Dates during the
offering period in which he or she is enrolled, then no further payroll deductions shall be collected from such
Participant with respect to those Purchase Dates. The suspension of such deductions shall not terminate the
Participant’s purchase right for the offering period in which he or she is enrolled, and payroll deductions shall
automatically resume on behalf of such Participant once he or she is again able to purchase shares during that
offering period in compliance with the accrual limitations of Article VIII.
G. Withdrawal from Offering Period. The following provisions shall govern the Participant’s withdrawal
from an offering period:
(i) A Participant may withdraw from the offering period in which he or she is enrolled at any time prior
to the next scheduled Purchase Date by filing the appropriate form with the Plan Administrator (or its
designate), and no further payroll deductions shall be collected from the Participant with respect to that
offering period. Any payroll deductions collected during the Purchase Interval in which such withdrawal
occurs shall, at the Participant’s election, be refunded as soon as administratively practicable or held for the
purchase of shares on the next Purchase Date. If no such election is made at the time of such withdrawal,
then the payroll deductions collected from the Participant during the Purchase Interval in which such
withdrawal occurs shall be refunded as soon as administratively practicable.
(ii) The Participant’s withdrawal from a particular offering period shall be irrevocable, and the
Participant may not subsequently rejoin that offering period at a later date. In order to resume participation
in any subsequent offering period, such individual must re-enroll in the Plan (by making a timely filing of
the prescribed enrollment forms) on or before the start date of that offering period.
H. Termination of Purchase Right. The following provisions shall govern the termination of outstanding
purchase rights:
(i) Should the Participant cease to remain an Eligible Employee for any reason (including death,
disability or change in status) while his or her purchase right remains outstanding, then that purchase right
shall immediately terminate, and all of the Participant’s payroll deductions for the Purchase Interval in
which the purchase right so terminates shall be immediately refunded.
(ii) However, should the Participant cease to remain in active service by reason of an approved leave of
absence, then the Participant shall have the right, exercisable at any time prior to the last business day of the
Purchase Interval in which such leave commences, to (a) withdraw all the payroll deductions collected to
date on his or her behalf for that Purchase Interval or (b) have such funds held for the purchase of shares on
his or her behalf on the next scheduled Purchase Date. In no event, however, shall any further payroll
deductions be collected on the Participant’s behalf during an unpaid leave of absence. Upon the
Participant’s return to active service (x) within three (3) months following the commencement of such leave
or (y) prior to the expiration of any longer period for which such Participant is provided with rights to
reemployment with the Corporation by statute or contract, his or her payroll deductions under the Plan shall
automatically resume at the rate in effect at the time the leave began (whether or not a new offering period
may have commenced), unless the Participant withdraws from the Plan prior to his or her return. An
individual who returns to active employment following a leave of absence that exceeds in duration the
applicable (x) or (y) time period will be treated as a new employee for purposes of subsequent participation
in the Plan and must accordingly re-enroll in the Plan (by making a timely filing of the prescribed
enrollment forms) on or before the start date of any subsequent offering period in which he or she wishes to
participate.
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