The provisions of these plans are subject to change at any time.
Employees become eligible on the first day of regular employment.
New Hire Stock Options Employees are granted new hire stock options according to their positions and salary grades. The program grants each employee the right to purchase a specified number of shares of the company's Common Stock at the specified price for a period of time. The price of the stock is determined by the Compensation Committee of the Board of Directors and all option grants are subject to their approval. Generally, the option price is determined by using the fair market value at close of the stock market on the first working day of the month following date of hire. All full-time NetApp employees are eligible to enroll in the plan at the first enrollment date following their employment with NetApp.