SanDisk 2010 Annual Report Download - page 110

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 the Plan
Administrator. The Participant may not, however, effect more than one (1) such reduction per Purchase
Interval.
(ii) The Participant may, prior to the commencement of any new Purchase Interval under the Plan,
increase or decrease the rate of his or her payroll deduction by filing the appropriate form with the Plan
Administrator. The new rate (which may not exceed the maximum percentage established by the Plan
Administrator for that offering period) shall become effective on the start date of the first Purchase Interval
following the filing of such form.
B. Payroll deductions shall begin on the first pay day administratively feasible following the start date of the
offering period and shall (unless sooner terminated by the Participant) continue through the pay day ending with
or immediately prior to the last day of that offering period. The amounts so collected shall be credited to the
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