EMC 2007 Annual Report Download - page 168

applicable option period, shall be a Saturday, Sunday or day on which banks in the Commonwealth of Massachusetts are required or permitted to close, a
participant may cancel his or her option by written notice given on or prior to the last business day immediately preceding such date. Following delivery of
any such notice, any balance in the participant's withholding account will be returned to such participant as soon as reasonably practicable. Any participant
who has delivered such notice may elect to participate in the Plan in any future option period in accordance with the provisions of Section 4.
Section 11. Termination of Employment
Except as otherwise provided in Section 12, upon the termination of a participant's employment with the Company for any reason whatsoever, he or she
shall cease to be a participant, and any option held by him or her under the Plan shall be deemed cancelled, the balance of his or her withholding account shall
be returned to him or her, and he or she shall have no further rights under the Plan. For purposes of this Section 11, a participant's employment will not be
considered terminated in the case of a transfer to the employment of a subsidiary or to the employment of the Company and an individual's employment
relationship will continue while such individual is on sick leave or other leave of absence approved by the Company or a subsidiary; provided, however, that
if such leave of absence exceeds 90 days, and the individual's right to reemployment is not guaranteed either by statute or by contract, the employment
relationship shall be deemed to be terminated on the 91st day of such leave.
Section 12. Death of Participant
In the event a participant holds any option hereunder at the time his or her employment with the Company is terminated by his or her death, whenever
occurring, then his or her legal representative, may, by a writing delivered to the Company on or before the date such option is exercisable, elect either (a) to
cancel any such option and receive in cash the balance in his or her withholding account, or (b) to have the balance in his or her withholding 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 such 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 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 the Company and, upon return to the participant of the balance of his or her withholding 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 Company to terminate the employment of such participant at any time.
Section 15. Rights as a Shareholder
A participant shall have the rights of a shareholder only as to stock actually acquired by him or her under the Plan.
Section 16. Change in Capitalization
In the event of a stock dividend, stock split or combination of shares, recapitalization, merger in which the Company is the surviving corporation or other
change in the Company's capital stock, the
3