8x8 2009 Annual Report Download - page 98

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18
13.7 Severability. If any one or more of the provisions (or any part thereof) of
this Plan shall be held invalid, illegal or unenforceable in any respect, such provision shall be
modified so as to make it valid, legal and enforceable, and the validity, legality and
enforceability of the remaining provisions (or any part thereof) of the Plan shall not in any way
be affected or impaired thereby.
13.8 No Constraint on Corporate Action. Nothing in this Plan shall be
construed to: (a) limit, impair, or otherwise affect the Company’ s or another Participating
Company’ s right or power to make adjustments, reclassifications, reorganizations, or changes of
its capital or business structure, or to merge or consolidate, or dissolve, liquidate, sell, or transfer
all or any part of its business or assets; or (b) limit the right or power of the Company or another
Participating Company to take any action which such entity deems to be necessary or
appropriate.
13.9 Choice of Law. Except to the extent governed by applicable federal law,
the validity, interpretation, construction and performance of the Plan and each Award Agreement
shall be governed by the laws of the State of Delaware as such laws are applied to agreements
between Delaware residents entered into and to be performed entirely within the State of
Delaware. Any proceeding arising out of or relating to an Award Agreement or the Plan may be
brought only in the state or federal courts located in the State of Delaware.
13.10 Stockholder Approval. To the extent required by applicable law, the
Plan or any increase in the maximum aggregate number of shares of Stock issuable thereunder as
provided in Section 4.1 (the “Authorized Shares”) shall be approved by a majority of the
outstanding securities of the Company entitled to vote within twelve (12) months before or after
the date of adoption thereof by the Board. Awards granted prior to security holder approval of
the Plan or in excess of the Authorized Shares previously approved by the security holders shall
become exercisable no earlier than the date of security holder approval of the Plan or such
increase in the Authorized Shares, as the case may be.