Exercise of Purchase Right
The number of whole shares that a participant purchases in an offering period will be determined by dividing the total amount of a participants
contributions during that offering period by the purchase price, except that no fractional shares may be purchased under the ESPP. Unless the administrator determines otherwise, the purchase price will be 85% of the lesser of the fair market value
of our common stock on (i) the first day of the offering period or (ii) the last day of the offering period, subject to compliance with the Code and the terms of the ESPP. The fair market value of a share of our common stock on any
relevant date generally will be the closing price of a share of our common stock on that date, as reported on the NASDAQ Global Select Market. As of April 20, 2022, such per share closing price of a share of our common stock was $3.07.
A participant may not purchase more than 10,000 shares in an offering period, and any contributions left over in a participants account after his or her
purchase right is exercised will be returned to the participant as soon as administratively possible after the end of the offering period.
Withdrawal
Generally, a
participant may withdraw all of his or her contributions from an offering period by submitting a written or electronic notice at least 10 days before the end of the offering period, without such withdrawal affecting his or her eligibility to
participate in future offering periods. However, once a participant withdraws from a particular offering period, that participant may not participate again in the same offering period. To participate in a subsequent offering period, the participant
must deliver a new subscription agreement to Viracta.
Non-transferability.
A participant may not assign, transfer, pledge, or otherwise dispose of in any way the contributions credited to his or her account or any right to purchase
Shares under the ESPP, except by will, the laws of descent and distribution, or by designation of a beneficiary in the manner provided under the ESPP).
Termination of Employment
Upon
termination of a participants employment for any reason, including disability or death, he or she will be withdrawn from the ESPP, the contributions credited to the participants account (to the extent not used to purchase Shares under
the ESPP) will be returned to him or her (or, in the case of death, to the person or persons entitled to receive such contributions, as provided in the ESPP), and such participants right to purchase shares under the ESPP will automatically be
terminated.
Adjustments upon Changes in Capitalization; Dissolution or Liquidation; Merger or Change in Control
Changes in Capitalization
In the event
that any dividend or other distribution (whether in the form of cash, common stock, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation,
split-up, spin-off, combination, reclassification, repurchase, or exchange of our common stock or other securities, or other change in the corporate structure of the
Company affecting the common stock occurs (other than any ordinary dividends or other ordinary distributions), the administrator, in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under
the ESPP, will, in such manner as it may deem equitable, adjust the number and class of common stock that may be delivered under the Plan, the purchase price per share, the class, and the number of shares of common stock covered by each option under
the Plan that has not yet been exercised, and the numerical limits of the ESPP.
Dissolution or Liquidation
In the event of Viractas proposed dissolution or liquidation, the administrator will shorten any offering period then in progress by setting a new
purchase date and any offering periods will end on the new purchase date. The
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