Adaptec 2006 Annual Report Download - page 131
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State or other tax withholding obligations, if any, which arise upon the disposition of the Common Stock. The Company may, but will not be
obligated to, withhold from my compensation the amount necessary to meet any applicable withholding obligation including any withholding necessary to
make available to the Company any tax deductions or benefits attributable to sale or early disposition of Common Stock by me. If I dispose of such shares
at any time after the expiration of the 1-year and 2-year holding periods described above, I understand that I will be treated for federal income tax purposes
as having received income only at the time of such disposition, and that such income will be taxed as ordinary income only to the extent of an amount
equal to the lesser of (1) the excess of the fair market value of the shares at the time of such disposition over the purchase price which I paid for the shares,
or (2) 15% of the fair market value of the shares on the first day of the Offering Period. The remainder of the gain, if any, recognized on such disposition
will be taxed as capital gain.
7. I hereby agree to be bound by the terms of the Employee Stock Purchase Plan. The effectiveness of this Subscription Agreement is dependent upon my
eligibility to participate in the Employee Stock Purchase Plan.
8. In the event of my death, I hereby designate the following as my beneficiary(ies) to receive all payments and shares due me under the Employee Stock
Purchase Plan:
NAME: (Please print)
(First) (Middle) (Last)
Relationship
(Address)
NAME: (Please print)
(First) (Middle) (Last)
Relationship
(Address)
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Source: PMC SIERRA INC, 10-K, March 01, 2007 Powered by Morningstar® Document Research℠