SanDisk 2013 Annual Report Download - page 76

IV. OFFERING PERIODS
A. Shares of Common Stock shall be offered for purchase under the Plan through a series of
successive offering periods until such time as (i) the maximum number of shares of Common Stock
available for issuance under the Plan shall have been purchased or (ii) the Plan shall have been sooner
terminated.
B. Each offering period shall be of such duration (not to exceed six (6) months) as determined
by the Plan Administrator prior to the start date of that offering period. The initial offering under the
Plan shall commence on February 15, 2012, unless the Plan Administrator selects a later
commencement date.
C. Unless the Plan Administrator determines otherwise, each offering period shall consist of a
single six (6)-month Purchase Interval. Offering periods shall commence at semi-annual intervals on
the fifteenth day or following business day of February and August each year over the term of the
Plan. Purchase Intervals under the Plan shall run from the fifteenth day or following business day in
February to the fourteenth day or previous business day in August each year and from the fifteenth
day or following business day of August each year to the fourteenth day or previous business day of
February in the following year. The first Purchase Interval in effect under the Plan shall begin on
February 15, 2012 and end on August 14, 2012, unless the Plan Administrator designates different
start and end dates for such Purchase Interval.
V. ELIGIBILITY
A. Each individual who is an Eligible Employee on the start date of any offering period under
the Plan may enter that offering period on such start date. However, an Eligible Employee may
participate in only one offering period at a time.
B. An Eligible Employee must, in order to participate in the Plan for a particular offering
period, complete the enrollment forms prescribed by the Plan Administrator (including a stock
purchase agreement and a payroll deduction authorization) and file such forms with the Plan
Administrator (or its designate) on or before the start date of that offering period. The enrollment
forms filed by a Participant for a particular offering period shall continue in effect for each subsequent
offering period unless the Participant files new enrollment forms on or before the start date of any
subsequent offering period or withdraws from the Plan.
C. The date an individual enters an offering period shall be designated as his or her Entry Date
for purposes of that offering period.
VI. PAYROLL DEDUCTIONS
A. The payroll deduction authorized by the Participant for purposes of acquiring shares of
Common Stock during an offering period may be any multiple of one percent (1%) of the Cash
Earnings paid to the Participant during each Purchase Interval within that offering period, up to a
maximum of fifteen percent (15%) of such Cash Earnings or such lower percentage as the Plan
Administrator may establish for that offering period. The deduction rate so authorized shall continue
in effect throughout the offering period and shall continue from offering period to offering period,
except to the extent such rate is changed in accordance with the following guidelines:
(i) The Participant may, at any time during the offering period, reduce his or her rate of
payroll deduction to become effective as soon as possible after filing the appropriate form with
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