SanDisk 2013 Annual Report Download - page 88

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.
C. 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 Participant’s book account under the Plan initially in the
currency in which the Participant is paid. No interest shall be paid on the balance from time to time
outstanding in such account except to the extent required by the laws of any applicable jurisdiction
with respect to a Participant in such jurisdiction. The amounts collected from the Participant shall not
be required to be held in any segregated account or trust fund and may be commingled with the
general assets of the Corporation and used for general corporate purposes except to the extent such
commingling is prohibited by the laws of any applicable jurisdiction.
D. The payroll deductions credited to each Participant’s book account during each Purchase
Interval shall be converted into U.S. Dollars on the Purchase Date for that Purchase Interval on the
basis of the exchange rate in effect on such date. The Plan Administrator shall have the absolute
discretion to determine the applicable exchange rate to be in effect for each Purchase Date by any
reasonable method (including, without limitation, the exchange rate actually used by the Corporation
for its intra-company financial transactions for the month of such transfer). Any changes or
fluctuations in the exchange rate at which the payroll deductions collected on the Participant’s behalf
are converted into U.S. Dollars on each Purchase Date shall be borne solely by the Participant.
E. Payroll deductions shall automatically cease upon the termination of the Participant’s
purchase right in accordance with the provisions of the Plan.
F. Payroll deductions shall be the sole means of payment of the purchase price of the shares of
Common stock to be acquired under the Plan, except in jurisdictions where payroll deductions are not
permitted, in which case the Plan Administrator may authorize alternate payment methods.
G. The Participant’s acquisition of Common Stock under the Plan on any Purchase Date shall
neither limit nor require the Participant’s acquisition of Common Stock on any subsequent Purchase
Date, whether within the same or a different offering period.
VII. PURCHASE RIGHTS
A. Grant of Purchase Rights. A Participant shall be granted a separate purchase right for each
offering period in which he or she is enrolled. The purchase right shall be granted on the start date of
the offering period and shall provide the Participant with the right to purchase shares of Common
Stock, in one or more installments during that offering period, upon the terms set forth below. The
Participant shall execute a stock purchase agreement embodying such terms and such other provisions
(not inconsistent with the Plan) as the Plan Administrator may deem advisable.
Under no circumstances shall purchase rights be granted under the Plan to any Eligible
Employee if such individual would, immediately after the grant, own (within the meaning of Code
Section 424(d)) or hold outstanding options or other rights to purchase, stock possessing five percent
(5%) or more of the total combined voting power or value of all classes of stock of the Corporation or
any Corporate Affiliate.
B. Exercise of the Purchase Right. Each purchase right shall be automatically exercised on each
successive Purchase Date within the offering period, and shares of Common Stock shall accordingly
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