Document:

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EXHIBIT 10.1

SANDISK CORPORATION

RESTRICTED STOCK UNIT ISSUANCE AGREEMENT

RECITALS

          A. The Board has adopted the Plan for the purpose of retaining the services of selected
Employees and consultants and other independent advisors who provide services to the Corporation
(or any Parent or Subsidiary).

          B. Participant is to render valuable services to the Corporation (or a Parent or Subsidiary),
and this Agreement is executed pursuant to, and is intended to carry out the purposes of, the Plan
in connection with the Corporation’s award of restricted stock units and, subject to the terms
hereof, issuance of shares of Common Stock to the Participant under the Stock Issuance Program.

          C. In addition to providing the terms and conditions of such award, this Agreement includes
the Participant’s agreement with respect to the satisfaction of tax withholding obligations
incurred in connection with prior grants of restricted stock units by the Corporation to the
Participant (if any) as set forth in Paragraph 7(c) below.

          D. All capitalized terms in this Agreement shall have the meaning assigned to them in the
attached Appendix A.

     NOW, THEREFORE, it is hereby agreed as follows:

          1. Grant of Restricted Stock Units. The Corporation hereby awards to the Participant,
as of the Award Date, restricted stock units (“Restricted Stock Units”) under the Plan. Each
Restricted Stock Unit represents the right to receive one share of Common Stock on the vesting date
of that unit. The number of shares of Common Stock subject to the awarded Restricted Stock Units,
the applicable vesting schedule for those shares, the dates on which those vested shares shall
become issuable to Participant and the remaining terms and conditions governing the award (the
“Award”) shall be as set forth in this Agreement.

AWARD SUMMARY

	 	 	 
	Award Date:
	 	                       , 2008
	 
	 	 
	Number of Shares Subject to Award:
	 	                    shares of Common Stock (the "Shares")
	 
	 	 
	Vesting Commencement Date
	 	                       , 2008
	 
	 	 
	Vesting Schedule:
	 	[To be determined by the Plan Administrator.]
	 
	 	 
	Issuance Schedule
	 	The Shares in which the Participant vests in accordance
	 
	 	with the foregoing Vesting Schedule will be issuable
	 
	 	immediately upon vesting, subject to the Corporation's
	 
	 	collection of the applicable Withholding Taxes. The
	 
	 	procedures pursuant to which the applicable Withholding
	 
	 	Taxes are to be collected are set forth in Paragraph 7
	 
	 	of this Agreement.

          2. Limited Transferability. Prior to actual receipt of the Shares which vest
hereunder, the Participant may not transfer any interest in the Award or the underlying Shares. Any
Shares which vest hereunder but which otherwise remain unissued at the time of the Participant’s
death may be transferred pursuant to the provisions of the Participant’s will or the laws of
inheritance or to the Participant’s designated beneficiary or beneficiaries of this Award. The
Participant may also direct the Corporation to issue the stock certificates for any Shares which in
fact vest and become issuable under the Award during his or her lifetime to one or

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more designated family members or a trust established for the Participant and/or his or her family members. The
Participant may make such a beneficiary designation or certificate directive at any time by filing
the appropriate form with the Plan Administrator or its designee.

          3. Cessation of Service. Should the Participant cease Service for any reason prior to
vesting in one or more Restricted Stock Units subject to this Award, then the Award will be
immediately cancelled with respect to those unvested Restricted Stock Units. The Participant shall
thereupon cease to have any right or entitlement to receive any Shares under those cancelled units.

          4. Stockholder Rights and Dividend Equivalents

          (a) The holder of this Award shall not have any stockholder rights, including voting or
dividend rights, with respect to the Shares subject to the Award until the Participant becomes the
record holder of those Shares following their actual issuance upon the Corporation’s collection of
the applicable Withholding Taxes.

          (b) Notwithstanding the foregoing, should any dividend or other distribution payable other
than in shares of Common Stock, whether regular or extraordinary, be declared and paid on the
outstanding Common Stock while one or more Shares remain subject to this Award (i.e., those Shares
are not otherwise issued and outstanding for purposes of entitlement to the dividend or
distribution), then a special book account shall be established for the Participant and credited
with a phantom dividend equivalent to the actual dividend or distribution which would have been
paid on those Shares had they been issued and outstanding and entitled to that dividend or
distribution. As the Shares subsequently vest hereunder, the phantom dividend equivalents credited
to those Shares in the book account shall be distributed to the Participant (in cash or such other
form as the Plan Administrator may deem appropriate in its sole discretion) concurrently with the
issuance of the vested Shares to which those phantom dividend equivalents relate. However, each
such distribution shall be subject to the Corporation’s collection of the Withholding Taxes
applicable to that distribution.

          5. Change of Control.

          (a) Any Restricted Stock Units subject to this Award at the time of a Change in Control may
be assumed by the successor entity or otherwise continued in full force and effect or may be
replaced with a cash incentive program of the successor entity which preserves the Fair Market
Value of the unvested shares of Common Stock subject to the Award at the time of the Change in
Control and provides for subsequent payout of that value in accordance with the vesting schedule
applicable to the Award. In the event of such assumption or continuation of the Award or such
replacement of the Award with a cash incentive program, no accelerated vesting of the Restricted
Stock Units shall occur at the time of the Change in Control.

          (b) In the event the Award is assumed or otherwise continued in effect, the Restricted Stock
Units subject to the Award shall be adjusted immediately after the consummation of the Change in
Control so as to apply to the number and class of securities into which the Shares subject to those
units immediately prior to the Change in Control would have been converted in consummation of that
Change in Control had those Shares actually been issued and outstanding at that time. To the extent
the actual holders of the outstanding Common Stock receive cash consideration for their Common
Stock in consummation of the Change in Control, the successor corporation (or parent entity) may,
in connection with the assumption or continuation of the Restricted Stock Units subject to the
Award at that time, substitute one or more shares of its own common stock with a fair market value
equivalent to the cash consideration paid per share of Common Stock in the Change in Control
transaction, provided such common stock is readily tradable on an established U.S. securities
exchange or market.

          (c) If the Restricted Stock Units subject to this Award at the time of the Change in Control
are not assumed or otherwise continued in effect or replaced with a cash incentive program in
accordance with Paragraph 5(a), then those units will vest immediately prior to the closing of the
Change in Control. The Shares subject to those vested units will be issued immediately upon such
vesting (or otherwise converted into the right to receive the same consideration per share of
Common Stock payable to the other stockholders of the Corporation in consummation of that Change in
Control), subject to the Corporation’s collection of the applicable Withholding Taxes pursuant to
the provisions of Paragraph 7.

          (d) This Agreement shall not in any way affect the right of the Corporation to adjust,
reclassify, reorganize or otherwise change its capital or business structure or to merge,
consolidate, dissolve, liquidate or sell or transfer all or any part of its business or assets.

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          6. Adjustment in Shares. Should any change be made to the Common Stock by reason of
any stock split, stock dividend, recapitalization, combination of shares, exchange of shares or
other change affecting the outstanding Common Stock as a class without the Corporation’s receipt of
consideration, appropriate adjustments shall be made to the total number and/or class
of securities issuable pursuant to this Award in order to reflect such change and thereby
preclude a dilution or enlargement of benefits hereunder.

          7. Issuance of Shares of Common Stock.

          (a) As soon as administratively practicable following each date one or more Restricted Stock
Units vest in accordance with the provisions of this Agreement, the Corporation shall issue to or
on behalf of the Participant a certificate (which may be in electronic form) for the shares of
Common Stock payable in respect of such vested Restricted Stock Units under the Award and shall
concurrently distribute to the Participant any phantom dividend equivalents with respect to those
Shares, subject in each instance to the Corporation’s collection of the applicable Withholding
Taxes.

          (b) Subject to Section VI of Article 5 of the Plan, upon any distribution of Shares in
respect of the Restricted Stock Units, the Corporation shall automatically reduce the number of
shares to be delivered by (or otherwise reacquire) the appropriate number of whole shares, valued
at their then Fair Market Value, to satisfy any withholding obligations of the Corporation or its
Subsidiaries with respect to such distribution of shares at the minimum applicable withholding
rates. In the event that the Corporation cannot legally satisfy such withholding obligations by
such reduction of shares, or in the event of a cash payment or any other withholding event in
respect of the Restricted Stock Units, the Corporation (or a Subsidiary) shall be entitled to
require a cash payment by or on behalf of the Participant and/or to deduct from other compensation
payable to the Participant any sums required by federal, state or local tax law to be withheld with
respect to such distribution or payment.

          (c) Notwithstanding any other provision herein or in the Plan, as a condition to the grant of
the Award and all rights of the Participant hereunder, the Participant agrees that, with respect to
all restricted stock units granted by the Corporation to the Participant that are outstanding and
unvested as of the date hereof, the Corporation shall automatically reduce the number of shares
otherwise deliverable in connection with each vesting of such restricted stock units that occurs at
any time on or after the date hereof, so as to satisfy the tax withholding obligations incurred by
the Corporation (or a Subsidiary) in connection with such vesting event, such reduction in shares
to be made in accordance with and subject to the provisions of Paragraph 7(b) above.

          (d) Except as otherwise provided in Paragraph 5 or this Paragraph 7, the settlement of all
Restricted Stock Units which vest under the Award shall be made solely in shares of Common Stock.
In no event, however, shall any fractional shares be issued. Accordingly, the total number of
shares of Common Stock to be issued at the time the Award vests shall, to the extent necessary, be
rounded down to the next whole share in order to avoid the issuance of a fractional share.

          8. Compliance with Laws and Regulations. The issuance of shares of Common Stock
pursuant to the Award shall be subject to compliance by the Corporation and Participant with all
applicable requirements of law relating thereto and with all applicable regulations of any stock
exchange on which the Common Stock may be listed for trading at the time of such issuance.

          9. Notices. Any notice required to be given or delivered to the Corporation under the
terms of this Agreement shall be in writing and addressed to the Corporation at its principal
corporate offices. Any notice required to be given or delivered to Participant shall be in writing
and addressed to Participant at the address indicated below Participant’s signature line on this
Agreement. All notices shall be deemed effective upon personal delivery or upon deposit in the U.S.
mail, postage prepaid and properly addressed to the party to be notified.

          10. Successors and Assigns. Except to the extent otherwise provided in this
Agreement, the provisions of this Agreement shall inure to the benefit of, and be binding upon, the
Corporation and its successors and assigns and Participant, Participant’s assigns, the legal
representatives, heirs and legatees of Participant’s estate and any beneficiaries of the Award
designated by Participant.

          11. Construction. This Agreement and the Award evidenced hereby are made and granted
pursuant to the Plan and are in all respects limited by and subject to the terms of the Plan. All
decisions of the Plan Administrator with respect to any question or issue arising under the Plan or
this Agreement shall be conclusive and binding on all persons having an interest in the Award.

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          12. Governing Law. The interpretation, performance and enforcement of this Agreement
shall be governed by the laws of the State of California without resort to that State’s
conflict-of-laws rules.

          13. Employment at Will. Nothing in this Agreement or in the Plan shall confer upon
Participant any right to continue in Service for any period of specific duration or interfere with
or otherwise restrict in any way the rights of the Corporation (or any Parent or Subsidiary
employing or retaining Participant) or of Participant, which rights are hereby expressly reserved
by each, to terminate Participant’s Service at any time for any reason, with or without cause.

          IN WITNESS WHEREOF, the parties have executed this Agreement on the day and year first
indicated above.

	 	 	 	 	 	 	 
	 	 	SANDISK CORPORATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 	 	PARTICIPANT	 	 
	 
	 	 	 	 	 	 
	 

	 	Signature:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Address:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 

	 	 

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APPENDIX A

DEFINITIONS

          The following definitions shall be in effect under the Agreement:

          A. Agreement shall mean this Restricted Stock Unit Issuance Agreement.

          B. Award shall mean the award of Restricted Stock Units made to the Participant
pursuant to the terms of this Agreement.

          C. Award Date shall mean the date the Restricted Stock Units are awarded to
Participant pursuant to the Agreement and shall be set forth in Paragraph 1 of the Agreement.

          D. Board shall mean the Corporation’s Board of Directors.

          E. Change in Control shall mean a change in ownership or control of the Corporation
effected through any of the following transactions:

     (i) a merger or consolidation approved by the Corporation’s stockholders, unless
securities possessing more than fifty percent (50%) of the total combined voting power of the
voting securities of the successor corporation are immediately thereafter beneficially owned,
directly or indirectly and substantially in the same proportion, by the persons who
beneficially owned the Corporation’s outstanding voting securities immediately prior to such
transaction,

     (ii) the sale, transfer or other disposition (including in whole or in part through one
or more licensing arrangements) of all or substantially all of the Corporation’s assets
approved by the Corporation’s stockholders, or

     (iii) the acquisition, directly or indirectly by any person or related group of persons
(other than the Corporation or a person that directly or indirectly controls, is controlled
by, or is under common control with, the Corporation), of beneficial ownership (within the
meaning of Rule 13d-3 of the 1934 Act) of securities possessing more than fifty percent (50%)
of the total combined voting power of the Corporation’s outstanding securities pursuant to a
tender or exchange offer made directly to the Corporation’s stockholders.

          F. Code shall mean the Internal Revenue Code of 1986, as amended.

          G. Common Stock shall mean shares of the Corporation’s common stock.

          H. Corporation shall mean SanDisk Corporation, a Delaware corporation, and any
successor corporation to all or substantially all of the assets or voting stock of SanDisk
Corporation which shall by appropriate action adopt the Plan.

          I. Employee shall mean an individual who is in the employ of the Corporation (or any
Parent or Subsidiary), subject to the control and direction of the employer entity as to both the
work to be performed and the manner and method of performance.

          J. Fair Market Value per share of Common Stock on any relevant date shall be
determined in accordance with the following provisions:

     (i) If the Common Stock is at the time traded on the NASDAQ Global Market, then the
Fair Market Value shall be the closing selling price per share of Common Stock at the close
of regular hours trading (i.e., before after- hours trading begins) on the NASDAQ Global
Market on the date in question, as such price is reported by the National

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Association of Securities Dealers. If there is no closing selling price for the Common
Stock on the date in question, then the Fair Market Value shall be the closing selling price
on the last preceding date for which such quotation exists.

     (ii) If the Common Stock is at the time listed on any Stock Exchange, then the Fair
Market Value shall be the closing selling price per share of Common Stock at the close of
regular hours trading (i.e., before after-hours trading begins) on the date in question on
the Stock Exchange determined by the Plan Administrator to be the primary market for the
Common Stock, as such price is officially quoted in the composite tape of transactions on
such exchange. If there is no closing selling price for the Common Stock on the date in
question, then the Fair Market Value shall be the closing selling price on the last preceding
date for which such quotation exists.

          K. 1934 Act shall mean the Securities Exchange Act of 1934, as amended from time to
time.

          L. Participant shall mean the person to whom the Award is made pursuant to the
Agreement.

          M. Parent shall mean any corporation (other than the Corporation) in an unbroken
chain of corporations ending with the Corporation, provided each corporation in the unbroken chain
(other than the Corporation) owns, at the time of the determination, stock possessing fifty percent
(50%) or more of the total combined voting power of all classes of stock in one of the other
corporations in such chain.

          N. Plan shall mean the Corporation’s Amended and Restated 2005 Incentive Plan.

          O. Plan Administrator shall mean either the Board or a committee of the Board acting
in its capacity as administrator of the Plan.

          P. Service shall mean the Participant’s performance of services for the Corporation
(or any Parent or Subsidiary) in the capacity of an Employee, a non-employee member of the board of
directors or a consultant or independent advisor. For purposes of this Agreement, Participant shall
be deemed to cease Service immediately upon the occurrence of the either of the following events:
(i) Participant no longer performs services in any of the foregoing capacities for the Corporation
(or any Parent or Subsidiary) or (ii) the entity for which Participant performs such services
ceases to remain a Parent or Subsidiary of the Corporation, even though Participant may
subsequently continue to perform services for that entity. Service shall not be deemed to cease
during a period of military leave, sick leave or other personal leave approved by the Corporation;
provided, however, that except to the extent otherwise required by law or expressly authorized by
the Plan Administrator or by the Corporation’s written policy on leaves of absence, no Service
credit shall be given for vesting purposes for any period the Participant is on a leave of absence.

          Q. Stock Exchange shall mean the American Stock Exchange or the New York Stock
Exchange.

          R. Subsidiary shall mean any corporation (other than the Corporation) in an unbroken
chain of corporations beginning with the Corporation, provided each corporation (other than the
last corporation) in the unbroken chain owns, at the time of the determination, stock possessing
fifty percent (50%) or more of the total combined voting power of all classes of stock in one of
the other corporations in such chain.

          S. Vesting Commencement Date shall mean the date from which the Participant’s Service
is measured for purposes of determining vesting of the Restricted Stock Units and shall be set
forth in Paragraph 1 of the Agreement.

          T. Withholding Taxes shall mean the federal, state and local income taxes and the
employee portion of the federal, state and local employment taxes required to be withheld by the
Corporation in connection with the issuance of the shares of Common Stock which vest under the
Award and any phantom dividend equivalents distributed with respect to those shares.

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EXHIBIT 10.2

CONFIDENTIAL SEPARATION AGREEMENT AND GENERAL RELEASE OF CLAIMS

          It is hereby agreed by and between you, Randhir Thakur (“you”), and SanDisk Corporation (the
“Company”), pursuant to this Confidential Separation Agreement and General Release of Claims
(“Agreement”), as follows:

          1. Employment through Separation Date. You acknowledge that the Company agrees to retain you
in the position of Executive Vice President through the Separation Date, as set forth in paragraph
2 below. Your duties will continue as currently assigned, except as otherwise directed by your
current management. Such duties may include various transitional duties, including but not limited
to, your execution of paperwork related to your removal from Company subsidiary boards.

          2. Separation of Employment. You acknowledge that your employment with the Company will end,
effective May 9, 2008 (“Separation Date”). You acknowledge that you are to perform no duties,
functions or services for the Company as an employee after the Separation Date.

          3. No Unlawful Conduct. You warrant that you have not engaged in any unlawful conduct in the
course of the discharge of your duties for the Company.

          4. Consideration.

               a. Employment through the Separation Date. In exchange for your promises in this Agreement,
including your general release of claims in paragraphs 10 and 13 of this Agreement, if you sign and
do not revoke this Agreement, the Company agrees to permit you to remain employed by the Company
through the Separation Date, notwithstanding its right to terminate your employment immediately.
Through the Separation Date, the Company agrees to continue your annual base salary of FOUR HUNDRED
THOUSAND EIGHT HUNDRED THIRTY NINE DOLLARS ($400,839), to be paid on a pro rata basis, in
accordance with the Company’s regular payroll practices. The Parties agree that this compensation
will represent wages and will therefore be subject to income tax and other legally required
withholding, and will be reported by the Company as income to you on IRS Form W-2.

               b. Separation Pay. In exchange for your promises in this Agreement, including your general
release of claims in paragraphs 10 and 13 of this Agreement, if you sign and do not revoke this
Agreement and timely sign and do not revoke the Further Release of Claims set forth in Appendix A
of this Agreement (“Further Release”), the Company agrees to pay you the gross sum of THREE HUNDRED
THOUSAND SIX HUNDRED TWENTY NINE DOLLARS ($300,629), equivalent to nine (9) months’ base salary.
This payment shall be made to you within ten (10) days of your execution of the Further Release
following your Separation Date. The Company is not required to pay you this sum if you fail to
sign, or you revoke, the Further Release. The Parties agree that this payment will represent wages
and will therefore be subject to income tax and other legally required withholding, and will be
reported by the Company as income to you on IRS Form W-2.

               c. Accelerated Vesting of Unvested Stock Options. In exchange for your promises in this
Agreement, including your general release of claims in paragraphs 10 and 13 of this Agreement, if
you sign and do not revoke this Agreement and timely sign and do not revoke the Further Release,
the Company agrees to provide you ten (10) months of accelerated vesting of your unvested stock
options as of your Separation Date. The Company is not required to provide you with this
accelerated vesting if you fail to sign, or you revoke, the Further Release.

               d. COBRA Payments. After your Separation Date, you will receive a COBRA notification
statement that will explain your entitlement to purchase for a limited period of time continued
health insurance coverage under the Company’s existing health care policies, at your own cost. The
amount of your monthly COBRA payment will vary, depending upon the number of dependents you choose
to cover. In exchange for your promises in this Agreement, including your general release of
claims in paragraphs 10 and 13 of this Agreement, if you sign and do not revoke this Agreement and
timely sign and do not revoke the Further Release, the Company agrees to pay your monthly COBRA
payments for a total of twelve (12) months or until you obtain comparable group health insurance
coverage, whichever occurs first. The Company is not required to make these payments if you fail
to sign, or you revoke, the Further Release.

 

 

          5. Acknowledgment of Consideration. You acknowledge that the payments and benefits described
in paragraphs 4(a), 4(b), 4(c) and 4(d) above, represent amounts and benefits above and beyond
those to which you would be entitled if you did not enter this Agreement and the Further Release of
Claims set forth in Appendix A.

          6. Indemnification. You understand and agree that the Company and its attorneys are neither
providing tax or legal advice, nor making representations regarding tax obligations or
consequences, if any, related to this Agreement. You further agree that you will assume any such
tax obligations or consequences that may arise from this Agreement, and you shall not seek any
indemnification from the Company in this regard. You agree that in the event that any taxing body
determines that additional taxes are due from you, you acknowledge and assume all responsibility
for the payment of any such taxes and agree to indemnify, defend and hold the Company harmless for
the payment of such taxes, and any failure to withhold. You further agree to pay, on the Company’s
behalf, any interest or penalties imposed as a consequence of such tax obligations, and to pay any
judgments, penalties, taxes, costs and attorneys’ fees incurred by the Company as a consequence of
your failure to pay any taxes due.

          The Company agrees to indemnify you for all necessary expenditures or losses incurred by you
in direct consequence of the proper discharge of your duties for the Company.

          7. Proprietary Information and Inventions Agreement. You agree that you will comply in all
respects with the proprietary information and inventions agreement (“PIIA”). You further agree
that if you breach the PIIA, then (a) the Company shall be entitled to apply for and receive an
injunction to restrain such breach; (b) the Company shall not be obligated to provide you with the
pay and benefits set forth in paragraphs 4(a), 4(b), 4(c) and 4(d) above, and (c) the Company may
file a lawsuit seeking monetary damages, notwithstanding any other provision of this Agreement. In
any such action to restrain breach of or enforce the terms of the PIIA, the prevailing party shall
be entitled to its or his costs and expenses, including reasonable attorneys’ fees.

          8. Confidential Information/Company Property. You acknowledge that all tangible information,
including all files, records, summaries, bills, invoices, copies, excerpts, data, memoranda,
letters, notes, written policies and procedures manuals and other information or material
pertaining to your work at the Company or containing Confidential Information which came into your
custody, possession or knowledge or were compiled prepared, developed or used by you at any time in
the course of or in connection with your work at the Company, electronic or otherwise, and all
tangible property put in your custody or possession by the Company in connection with your work at
the Company is solely the property of the Company, and you agree that you will immediately return
to the Company all such information in your possession or control. You also agree to immediately
return to the Company all other Company property and equipment.

          9. Cooperation. You agree to cooperate fully with any Releasee (as defined in paragraph 10
below), and any corporate affiliate of any Releasee, including any attorney retained by any
Releasee, in connection with any pending or future litigation or investigatory matter. You
acknowledge that such cooperation may include, but shall in no way be limited to, you being
available for an interview with any of the Releasees, or any attorney or agent retained by any of
the Releasees, providing to any of the Releasees any documents in your possession or under your
control that may relate to the litigation or investigatory matter, and providing truthful sworn
statements in connection with the litigation or investigatory matter.

          You also agree to provide ongoing assistance related to your service on Company subsidiary
boards, including but not limited to, executing paperwork related to your removal from Company
subsidiary boards and other transitional duties.

          The Company agrees to pay you $200.00 per hour for the time you spend complying with your
obligations under this paragraph; provided, however, you agree to provide the Company at no charge
a total of eight (8) hours of your time to fulfill your obligations under this paragraph. The
Company further agrees to reimburse you for all reasonable and actual expenses incurred and
substantiated by you in fulfilling your obligations under this paragraph, subject to the Company’s
approval of any expenses before they are incurred.

          10. Full and General Release of the Company. In consideration for the payments and benefits
provided for in paragraph 4(a), 4(b), 4(c) and 4(d) of this Agreement, you unconditionally release
and forever discharge the Company, and its affiliates, parents, subsidiaries, related companies,
successors, predecessors, and assigns, and all of its and their officers, directors, partners,
shareholders, employees, consultants, agents, representatives, and attorneys, past and present, and
each of them (collectively referred to herein as “Releasees”), from any and all claims, demands,
actions, suits, causes of action, obligations, damages and liabilities of whatever kind or nature,
based on any act, omission, event, occurrence, or nonoccurrence from the beginning of time to the
date of execution of this Agreement, including, but not limited to, claims that arise out of or in
any way

 

 

relate to your employment or separation from employment with the Company. You acknowledge and
agree that this general release includes, but is not limited to, any claims for salary, bonuses,
compensation (except as specified in this Agreement), wages, penalties, premiums, severance pay,
vacation pay or any benefits under the Employee Retirement Income Security Act of 1974, as amended.
You acknowledge and agree that this general release includes, but is not limited to, claims of
breach of implied or express employment contracts or covenants, defamation, wrongful termination,
public policy violations, emotional distress and related matters, claims of discrimination or
harassment under federal, state or local laws, and claims based on any federal, state or other
governmental statute, regulation or ordinance, including, but not limited to, Title VII of the
Civil Rights Act of 1964, as amended, the Civil Rights Act of 1991, the Americans With Disabilities
Act, the Family and Medical Leave Act, the California Fair Employment and Housing Act, the
California Labor Code, the California Family Rights Act, the California Constitution, the
California Industrial Welfare Commission Wage Orders, and the California Government Code. You
expressly understand that among the various rights and claims being waived by you in this Agreement
are those arising under the Age Discrimination in Employment Act of 1967 (“ADEA”), as amended, and
in that regard you specifically acknowledge that you have read and understand the provisions of
paragraph 16 below before signing this Agreement.

          Excluded from this Release are any claims or rights that cannot be waived by law. These
rights include the right to file a charge of discrimination with, or participate in an
investigation conducted by, an administrative agency. You are waiving, however, your right to any
monetary recovery or other relief in connection with such a charge. Also excluded from this
Release are any rights or claims arising under this Agreement, including your right to be
reimbursed for legal or other expenses you reasonably incur as the result of your discharge of
duties for the Company.

          11. Release of You from Known Claims. In consideration for your promises set forth in this
Agreement, the Company hereby releases you and your attorney(s), agents, representatives,
successors, and assigns from any and all known claims, demands, actions, suits, causes of action,
obligations, damages and liabilities of whatever kind or nature, based on any act, omission, event,
occurrence, or nonoccurrence from the beginning of time to the date of execution of this Agreement.

          Excluded from this Release are any unknown claims as well as any claims or rights arising
under this Agreement or the PIIA.

          12. Covenant Not to Sue. A “covenant not to sue” is a legal term which means you promise not
to file a lawsuit in court. It is different from the General Release of claims contained in
paragraph 10 above. Besides waiving and releasing the claims covered by paragraph 10 above, you
represent and warrant that you have not filed, and agree that you will not file, or cause to be
filed, any judicial complaint or lawsuit involving any claims you have released in paragraph 10,
and you agree to withdraw any judicial complaints or lawsuits you have filed, or were filed on your
behalf, prior to the effective date of this Agreement. Notwithstanding this Covenant Not to Sue,
you may bring a claim against the Company to enforce this Agreement or to challenge the validity of
this Agreement under the ADEA. You agree and acknowledge that if you sue the Company or any other
Releasee in violation of this Agreement, then you shall pay all legal expenses, including
reasonable attorneys’ fees, incurred by any Releasee in defending against your suit.
Alternatively, if you sue the Company in violation of this Agreement, you may, at the Company’s
option, be required to return all monies and other benefits paid to you pursuant to paragraphs 4(b)
and 4(d) of this Agreement, except for $1,000.00. In that event, the Company shall be excused from
making any further payments or continuing any other benefits otherwise owed to you under paragraphs
4(b), (4c) and 4(d) of this Agreement.

          In consideration for your promises set forth in this Agreement, the Company promises and
agrees that it will not file, or cause to be filed, any judicial complaint or lawsuit involving any
claims that it has released in paragraph 11, above, except by way of setoff against any claims you
may file or to seek recovery from you for any breach of this Agreement, including but not limited
to a breach of Paragraph 12, above.

          13. Release of Unknown Claims by You. For the purpose of implementing a full and complete
release, you expressly acknowledge and agree that this Agreement resolves all legal claims you may
have against the Company and the Releasees as of the date of this Agreement, including but not
limited to claims that you did not know or suspect to exist in your favor at the time of the
effective date of this Agreement, despite the fact that California Civil Code section 1542 or other
applicable law may provide otherwise. You expressly waive any and all rights which you may have
under the provisions of section 1542 of the California Civil Code or any similar law. Section 1542
provides:

“A general release does not extend to claims which the creditor does not
know or suspect to exist in his or her favor at the time of executing
the release, which if known by him or her must have materially affected
his or her settlement with the debtor.”

 

 

          14. Further Release of Claims. In consideration for the compensation and benefits being
provided to you in this Agreement, you hereby agree to execute following your Separation Date the
Further Release of Claims attached hereto as Appendix A and incorporated herein by reference as a
condition to receiving the payments and benefits described in paragraphs 4(b), 4(c) and 4(d) of
this Agreement.

          15. Voluntary Agreement. You acknowledge that you hereby have been advised in writing to
consult with an attorney before you sign this Agreement. You understand that you have twenty-one
(21) days within which to decide whether to sign this Agreement, although you may sign this
Agreement at any time within the twenty-one (21) day period. If you do sign it, you also
understand that you will have an additional seven (7) days after you sign to change your mind and
revoke the Agreement, in which case a written notice of revocation must be delivered to Tom Baker,
VP Human Resources, 601 McCarthy Blvd, Milpitas, CA 95035, on or before the seventh (7th) day after
your execution of the Agreement. You understand that the Agreement will not become effective until
after that seven (7) day period has passed. You acknowledge that you are signing this Agreement
knowingly and voluntarily and intend to be bound legally by its terms.

          16. No Representations. You hereby acknowledge that no promise or inducement has been offered
to you, except as expressly stated above, and you are relying upon none. This Agreement supersedes
any other written or oral understandings and may not be amended, modified or superseded except by a
written agreement signed by both you and the Company. No oral statement by any employee of the
Company shall modify or otherwise affect the terms and provisions of this Agreement.

          17. On-The-Job Injury. You certify that you have not experienced a job-related illness or
injury for which you have not already filed a claim.

          18. Filing Acknowledgement. You acknowledge and understand that for purposes of the
Securities Exchange Act and/or Securities and Exchange Commission requirements, the Company may be
required to file a public disclosure regarding both your departure and the terms of this Separation
Agreement.

          19. Binding Agreement. This Agreement shall be binding upon you and your heirs,
administrators, representatives, executors, successors and assigns, and shall inure to the benefit
of Releasees and each of them, and to their heirs, administrators, representatives, executors,
successors, and assigns.

          20. Severability. Should any provision of this Agreement be declared or be determined by any
court to be illegal or invalid, the validity of the remaining parts, terms, or provisions shall not
be affected, and said illegal or invalid part, term, or provision shall be deemed not to be part of
this Agreement.

          21. Non-Admission of Liability. This Agreement does not constitute an admission that the
Company or any other Releasee has violated any law, rule, regulation, contractual right or any
other duty or obligation.

          22. Governing Law. This Agreement is made and entered into in the State of California and
shall in all respects be interpreted, enforced, and governed under the law of that state. The
language of all parts in this Agreement shall be construed as a whole, according to fair meaning,
and not strictly for or against any party.

          23. Entire Agreement. This Agreement and the PIIA set forth the entire agreement between you
and the Company pertaining to the subject matter of this Agreement.

 

 

PLEASE READ CAREFULLY. THIS AGREEMENT INCLUDES THE RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS.

	 	 	 	 	 
	 	 	 
	Dated: May 2, 2008 	
/s/ Randhir Thakur
 	 
	 	RANDHIR THAKUR 	 
	 	 	 
	 

	 	 	 	 	 
	Dated: May 2, 2008	 	SANDISK CORPORATION
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Tom Baker
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	 	 	Tom Baker
	 
	 	 	 	 
	 

	 	Its:
	 	Senior Vice President, Human Resources

 

 

APPENDIX A

FURTHER RELEASE OF CLAIMS

[TO BE EXECUTED AFTER THE MAY 9, 2008 SEPARATION DATE]

          This is a Further Release of Claims (“Further Release”) is given by Randhir Thakur to SanDisk
Corporation (the “Company”).

          1. Further Full and General Release of the Company. In consideration for the payments and
benefits provided to you in the Confidential Separation Agreement and General Release of Claims
(“Separation Agreement”), you unconditionally release and forever discharge the Company, and its
affiliates, parents, subsidiaries, related companies, successors, predecessors, and assigns, and
all of its and their officers, directors, partners, shareholders, employees, consultants, agents,
representatives, and attorneys, past and present, and each of them (collectively referred to herein
as “Releasees”), from any and all claims, demands, actions, suits, causes of action, obligations,
damages and liabilities of whatever kind or nature, based on any act, omission, event, occurrence,
or nonoccurrence from the beginning of time to the date of execution of this Further Release,
including, but not limited to, claims that arise out of or in any way relate to your employment or
separation from employment with the Company. You acknowledge and agree that this general release
includes, but is not limited to, any claims for salary, bonuses, compensation (except as specified
in this Agreement), wages, penalties, premiums, severance pay, vacation pay or any benefits under
the Employee Retirement Income Security Act of 1974, as amended. You acknowledge and agree that
this general release includes, but is not limited to, claims of breach of implied or express
employment contracts or covenants, defamation, wrongful termination, public policy violations,
emotional distress and related matters, claims of discrimination or harassment under federal, state
or local laws, and claims based on any federal, state or other governmental statute, regulation or
ordinance, including, but not limited to, Title VII of the Civil Rights Act of 1964, as amended,
the Civil Rights Act of 1991, the Americans With Disabilities Act, the Family and Medical Leave
Act, the California Fair Employment and Housing Act, the California Labor Code, the California
Family Rights Act, the California Constitution, the California Industrial Welfare Commission Wage
Orders, and the California Government Code. You expressly understand that among the various rights
and claims being waived by you in this Further Release are those arising under the Age
Discrimination in Employment Act of 1967 (“ADEA”), as amended, and in that regard you specifically
acknowledge that you have read and understand the provisions of paragraph 5 below before signing
this Further Release.

          Excluded from this Further Release are any claims or rights that cannot be waived by law.
These rights include the right to file a charge of discrimination with, or participate in an
investigation conducted by, an administrative agency. You are waiving, however, your right to any
monetary recovery or other relief in connection with such a charge. Also excluded from this
Further Release are any rights or claims arising under the Separation Agreement, including your
right to be reimbursed for legal or other expenses you reasonably incur as the result of your
discharge of duties for the Company.

          2. Further Release of You from Known Claims. In consideration for your promises set forth in
the Separation Agreement, the Company hereby releases you and your attorney(s), agents,
representatives, successors, and assigns from any and all known claims, demands, actions, suits,
causes of action, obligations, damages and liabilities of whatever kind or nature, based on any
act, omission, event, occurrence, or nonoccurrence from the beginning of time to the date of
execution of this Further Release.

          Excluded from this Release are any unknown claims as well as any claims or rights arising
under the Separation Agreement or the PIIA.

          3. Covenant Not to Sue. A “covenant not to sue” is a legal term which means you promise not
to file a lawsuit in court. It is different from the General Release of claims contained in
paragraph 1 above. Besides waiving and releasing the claims covered by paragraph 1 above, you
represent and warrant that you have not filed, and agree that you will not file, or cause to be
filed, any judicial complaint or lawsuit involving any claims you have released in paragraph 1, and
you agree to withdraw any judicial complaints or lawsuits you have filed, or were filed on your
behalf, prior to the effective date of this Further Release. Notwithstanding this Covenant Not to
Sue, you may bring a claim against the Company to enforce the Separation Agreement or Further
Release or to challenge the validity of the Separation Agreement or Further Release under the ADEA.
You agree and acknowledge that if you sue the Company or any other Releasee in violation of this
Agreement, then you shall pay all legal expenses, including reasonable attorneys’ fees, incurred by
any Releasee in defending against your suit. Alternatively, if you sue the Company in violation of
this Agreement, you may, at the Company’s option, be required to return all monies and other

 

 

benefits paid to you pursuant to paragraphs 4(b) and 4(d) of the Separation Agreement, except
for $1,000.00. In that event, the Company shall be excused from making any further payments or
continuing any other benefits otherwise owed to you under paragraphs 4(b), 4(c) and 4(d) of the
Separation Agreement.

          In consideration for your promises set forth in the Separation Agreement, the Company promises
and agrees that it will not file, or cause to be filed, any judicial complaint or lawsuit involving
any claims that it has released in paragraph 2, above.

          4. Release of Unknown Claims by You. For the purpose of implementing a full and complete
release, you expressly acknowledge and agree that this Agreement resolves all legal claims you may
have against the Company and the Releasees as of the date of this Agreement, including but not
limited to claims that you did not know or suspect to exist in your favor at the time of the
effective date of this Agreement, despite the fact that California Civil Code section 1542 or other
applicable law may provide otherwise. You expressly waive any and all rights which you may have
under the provisions of section 1542 of the California Civil Code or any similar law. Section 1542
provides:

“A general release does not extend to claims which the creditor does not
know or suspect to exist in his or her favor at the time of executing
the release, which if known by him or her must have materially affected
his or her settlement with the debtor.”

          5. Voluntary Agreement. You acknowledge that you hereby have been advised in writing to
consult with an attorney before you sign this Further Release. You understand that you have
twenty-one (21) days within which to decide whether to sign this Further Release, although you may
sign this Agreement at any time within the twenty-one (21) day period. If you do sign it, you also
understand that you will have an additional seven (7) days after you sign to change your mind and
revoke the Further Release, in which case a written notice of revocation must be delivered to Tom
Baker, VP Human Resources, 601 McCarthy Blvd, Milpitas, CA 95035, on or before the seventh (7th)
day after your execution of the Further Release. You understand that the Further Release will not
become effective until after that seven (7) day period has passed. You acknowledge that you are
signing this Further Release knowingly and voluntarily and intend to be bound legally by its terms.

     PLEASE READ CAREFULLY. THIS AGREEMENT INCLUDES THE RELEASE OF ALL KNOWN AND
UNKNOWN CLAIMS.

	 	 	 	 	 	 	 
	Dated:                    , 2008
	 	 	 	 	 	 
	 

	 	 

	 	 
	 	 	Randhir Thakur	 	 

	 	 	 	 	 	 	 
	Dated:                    , 2008	 	SANDISK CORPORATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	Tom Baker	 	 
	 
	 	 	 	 	 	 
	 

	 	Its:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	SVP Human Resources

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