Amendment No. 2 to Marvell Technology Group Ltd. Amended 2000 Employee Stock Purchase Plan
This amendment updates Marvell Technology Group Ltd.'s 2000 Employee Stock Purchase Plan, effective June 10, 2009. It changes the rules for how many shares of common stock can be added to the plan each year, starting January 1, 2010. The new limit is the lesser of 8 million shares, 1.5% of the company's outstanding shares, or a lower amount set by the Board, but not exceeding the other limits. The amendment ensures the plan's share pool is managed according to these updated criteria.
Exhibit 10.2
AMENDMENT NO. 2 TO THE MARVELL TECHNOLOGY GROUP LTD.
AMENDED 2000 EMPLOYEE STOCK PURCHASE PLAN
The Marvell Technology Group Ltd. Amended 2000 Employee Stock Purchase Plan (the “Plan”) is hereby amended effective June 10, 2009, as follows:
1. Section 12(a)(ii) of the Plan is amended to provide in its entirety as follows:
“(ii) Beginning the first business day of each calendar year starting January 1, 2010 or after, the lesser of an additional (A) 8,000,000 shares of Common Stock, or (B) 1.5% of the outstanding shares of capital stock on such date, or (C) an amount determined by the Board (provided that the amount approved by the Board shall not be greater than (A) or (B)).”
