VMware 2013 Annual Report Download - page 108
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her contribution account applied as of the last day of the option period to the exercise of his or her option pursuant to Section 8, and
have the balance, if any, in such account in excess of the total purchase price of the whole shares so issued returned in cash. In the
event his or her legal representative does not file a written election as provided above, any outstanding option shall be treated as if
an election had been filed pursuant to subparagraph 12(a) above.
Section 13. Participant’s Rights Not Transferable, etc.
All participants granted options under a specified offering under the 423 component of the Plan shall have the same rights
and privileges. Each participant’s rights and privileges under any option granted under the Plan shall be exercisable during his or
her lifetime only by him or her, and shall not be sold, pledged, assigned, or otherwise transferred in any manner whatsoever except
by will or the laws of descent and distribution. In the event any participant violates the terms of this Section, any options held by
him or her may be terminated by VMware and, upon return to the participant of the balance of his or her contribution account, all
his or her rights under the Plan shall terminate.
Section 14. Employment Rights
Neither the adoption of the Plan nor any of the provisions of the Plan shall confer upon any participant any right to
continued employment with the Company or a subsidiary or affect in any way the right of the participant’s employer to terminate
the employment of such participant at any time.
Section 15. Rights as a Shareholder/Use of Funds
A participant shall have the rights of a shareholder only as to stock actually acquired by him or her under the Plan.
All contributions received under the Plan may be used by the Company for any corporate purpose, and the Company shall
not be obligated to segregate such funds, but may do so if required under applicable local law.
Section 16. Change in Capitalization
In the event of a stock dividend, stock split or combination of shares, recapitalization, merger in which VMware is the
surviving corporation or other change in VMware’s capital stock, the number and kind of shares of stock or securities of VMware
to be subject to the Plan and to options then outstanding or to be granted hereunder, the maximum number of shares or securities
which may be delivered under the Plan, the option price and other relevant provisions shall be appropriately adjusted by the Board
of Directors, whose determination shall be binding on all persons. In the event of a consolidation or merger in which VMware is
not the surviving corporation or in the event
6