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STATES</font></div>
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AND EXCHANGE COMMISSION</font></div>
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D.C. 20549</font></div>
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8-K</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">CURRENT
REPORT</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">PURSUANT
TO SECTION 13 OR 15(D) OF THE</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman, serif">SECURITIES
EXCHANGE ACT OF 1934</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Date
of Report (Date of earliest event reported): November 10, 2008</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 24pt; FONT-FAMILY: Times New Roman, serif"><img src="sndk_logored.jpg" alt=""></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 24pt; FONT-FAMILY: Times New Roman, serif">SanDisk
Corporation</font></div>
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name of registrant as specified in its charter)</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif">(State
      or other jurisdiction</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif">of
      incorporation)</font></div>
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            </td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif">(Commission
      File No.)</font></div>
              <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
            </td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif">77-0191793</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif">(I.R.S.
      Employer</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif">Identification
      Number</font></div>
              <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">601
McCarthy Boulevard, Milpitas, California&#160;&#160;95035</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">(Address
of principal executive offices) (Zip Code)</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Registrant&#8217;s
telephone number, including area code: (408) 801-1000</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">N/A</font></div>
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name or former address, if changed since last report.)</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Check
the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provision (<font style="DISPLAY: inline; FONT-STYLE: italic">see </font>General
Instruction A.2. below):</font></div>
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communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)</font></div>
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material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)</font></div>
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communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))</font></div>
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communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))</font></div>
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OF CONTENTS</font></div>
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            <td align="right" style="WIDTH: 115px">
              <div style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif">Item
      5.02<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;</font>&#160;</font></div>
            </td>
            <td align="left" width="1443"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif">Departure
      of Directors or Certain Officers; Election of Directors; Appointment of
      Certain Officers; Compensatory Arrangements of Certain
  Officers</font></td>
          </tr>
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            <td align="right" style="WIDTH: 115px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif">&#160;</font></td>
            <td align="left" width="1443"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif">&#160;</font></td>
          </tr>
          <tr valign="top">
            <td align="right" style="WIDTH: 115px"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif">      </font>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif">Item
      9.01</font></font>&#160;</div>
            </td>
            <td align="left" width="1443"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif">      </font>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif">Financial
      Statements and Exhibits</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><a href="#Signatures">SIGNATURES</a></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><a href="#ExhibitIndex">EXHIBIT INDEX</a></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><a href="exhibit_10-1.htm">EXHIBIT 10.1</a></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><a href="exhibit_10-2.htm">EXHIBIT 10.2</a></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div><br>
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    <div align="center">
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">
      <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Item
5.02&#160;&#160;Departure of Directors or Principal Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers</font></div>
      <div align="left">&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman, serif">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Compensatory
Arrangements of Certain Officers</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">On
November 10, 2008, the Compensation Committee (the &#8220;Committee&#8221;) of the Board of
Directors of SanDisk Corporation (the &#8220;Company&#8221;) approved certain amendments to
(i) the Company&#8217;s change of control agreements with each of its named executive
officers and (ii) certain of the Company&#8217;s outstanding option agreements with
its named executive officers and certain of its directors.&#160;&#160;The
amendments are primarily technical changes intended to comply with Section 409A
of the U.S. Internal Revenue Code (&#8216;Section 409A&#8221;).&#160;&#160;The Committee
also approved an increase in the severance benefits provided to Sanjay Mehrotra,
the Company&#8217;s President and Chief Operating Officer, under his agreement as
described below.&#160;&#160;The following summaries are qualified in their
entirety by reference to the forms of change of control benefits agreement and
option agreement amendment, which are attached hereto as Exhibits 10.1 and 10.2,
respectively, and incorporated herein by reference.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">The
change of control agreements have been amended to provide that cash severance
benefits under the agreements will be paid only following the executive&#8217;s
&#8220;separation from service&#8221; with the Company within the meaning of Section 409A
and that such payments to executive officers may be subject to a six-month delay
period if required under Section 409A.&#160;&#160;The amendments also include
technical changes in the timing of certain severance payments intended to comply
with Section 409A.&#160;&#160;The Committee also authorized the establishment by
the Company of a trust, subject to the requirements of Section 409A and other
applicable tax law, for purposes of holding the severance amounts that may
become payable pursuant to the agreements.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">In
general, each of the change of control agreements provides that, if a change of
control (as defined in the agreement) occurs, the executive will be treated as
having completed one additional year of vesting service for purposes of the
executive&#8217;s outstanding and unvested equity awards.&#160;&#160;In addition, if
the executive&#8217;s employment is terminated by the Company without &#8220;cause&#8221; or by
the executive for &#8220;good reason&#8221; (as those terms are defined in the agreement)
within 12 months following a change of control of the Company, the executive
will be entitled to a cash payment determined by multiplying a severance
multiplier by the sum of (1) the executive&#8217;s annual base salary as of the Change
of Control or termination of employment, whichever is greater, and (2) the
executive&#8217;s target annual bonus for the year of termination.&#160;&#160;The
Committee approved an increase in the severance multiplier for Mr. Mehrotra from
1.0 to 1.5.&#160;&#160;The severance multiplier will remain 2.0 for Eli Harari,
the Company&#8217;s Chairman and Chief Executive Officer, and 1.0 for each of the
other named executive officers.&#160;&#160;The agreements also provide for the
executive to receive the following severance benefits: (i) for a period of 24
months following the termination date, continuation of the same or equivalent
life, health and other insurance coverage for the executive and his or her
spouse and eligible dependents as the coverage provided immediately prior to the
change of control; (ii) full vesting of the executive&#8217;s equity awards to the
extent outstanding on the termination date and not otherwise vested, with
accelerated options to remain exercisable for 12 months following the
termination date (subject to the maximum term of the option); (iii) for a period
of 12 months following the termination, executive-level outplacement benefits;
and (iv) in the event that the executive&#8217;s benefits are subject to the excise
tax imposed under Section 280G of the Internal Revenue Code, a gross-up payment
so that the net amount of such payment (after taxes) he or she receives is
sufficient to pay the excise tax due.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">In
addition, the Committee approved amendments to certain outstanding stock options
held by Dr. Harari, Mr. Mehrotra, Judy Bruner, the Company&#8217;s Executive Vice
President, Administration and Chief Financial Officer, and Yoram Cedar,
Executive Vice President, Mobile Business Unit and Corporate Engineering, as
well as certain outstanding options held by Irwin Federman, James D. Meindl,
Michael Marks and Catherine P. Lego, members of the Company&#8217;s Board of
Directors.&#160;&#160;The amendments eliminate a provision giving the
optionholder the right to surrender his or her option for a cash payment if a
&#8220;hostile take-over&#8221; (as that term is defined in the applicable option plan) of
the Company occurs and are intended to help bring the options into compliance
with Section 409A.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Item
9.01 Financial Statements and Exhibits</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">(c)
Exhibits</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">
          <tr>
            <td align="left" valign="top" width="6%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman, serif">Number</font></div>
            </td>
            <td align="left" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman, serif">Description
      of Document</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="6%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif">10.1</font></div>
            </td>
            <td align="left" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif">Form
      of Amended and Restated Change of Control Benefits
    Agreement</font></div>
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          </tr>
          <tr>
            <td align="left" valign="top" width="6%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif">10.2</font></div>
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            <td align="left" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif">Form
      of Option Agreement Amendment</font></div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 18pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">
          <tr>
            <td align="left" valign="top" width="47%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif">Date:
      <font size="+0"><font size="+0"><font size="+0"><font style="DISPLAY: inline; FONT-SIZE: 10pt">November 12</font><font style="DISPLAY: inline; FONT-SIZE: 10pt">,&#160;2008</font></font></font></font></font></div>
            </td>
            <td valign="top" width="2%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td colspan="2" valign="top" width="42%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
          </tr>
          <tr>
            <td valign="top" width="47%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" colspan="3" valign="top" width="53%">
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      CORPORATION</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="47%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td colspan="2" valign="top" width="3%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td valign="top" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
          </tr>
          <tr>
            <td valign="top" width="47%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" colspan="2" valign="top" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif">By:</font></div>
            </td>
            <td align="left" valign="top" width="50%" style="BORDER-BOTTOM: black 2px solid">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif"><font style="DISPLAY: inline">/s/ Judy Bruner</font></font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="47%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" colspan="2" valign="top" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif">Name:</font></div>
            </td>
            <td align="left" valign="top" width="50%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif">Judy
      Bruner</font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="47%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
            <td align="left" colspan="2" valign="top" width="3%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif">Title:</font></div>
            </td>
            <td align="left" valign="top" width="50%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif">Executive
      Vice President, Administration and Chief Financial Officer (Principal
      Financial and Accounting
Officer)</font></div>
            </td>
          </tr>
      </table>
    </div><br>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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</font></div>
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        <div style="WIDTH: 100%; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&#160;
</font></div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: darkgray" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right"><font style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman">&#160;
</font></div>
      </div>
    </div><br>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><a name="ExhibitIndex">EXHIBIT INDEX</a></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">
          <tr>
            <td align="left" valign="bottom" width="6%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman, serif">Exhibit</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman, serif">Number</font></div>
            </td>
            <td align="left" valign="bottom" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: times new roman, serif">Description
      of Document</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="6%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif"><font size="+0"><font size="+0"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">.1</font></font></font></font></div>
            </td>
            <td align="left" valign="top" width="76%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif"><font size="+0"><font size="+0"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Form
      of Amended and Restated Change </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">of</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;Control
      </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Benefits<font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></font></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Agreement</font></font></font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="6%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">10.2</font></font></div>
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      of Option Agreement
Amendment</font></font></div>
            </td>
          </tr>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div><br>
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form_8-kc.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported): November 10, 2008
SanDisk
Corporation
(Exact
name of registrant as specified in its charter)
Delaware
(State
      or other jurisdiction
of
      incorporation)
000-26734
(Commission
      File No.)
77-0191793
(I.R.S.
      Employer
Identification
      Number
601
McCarthy Boulevard, Milpitas, California  95035
(Address
of principal executive offices) (Zip Code)
Registrant's
telephone number, including area code: (408) 801-1000
N/A
(Former
name or former address, if changed since last report.)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provision (
see
General
Instruction A.2. below):
¨
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
¨
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
¨
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
¨
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
TABLE
OF CONTENTS
Item
      5.02
Departure
      of Directors or Certain Officers; Election of Directors; Appointment of
      Certain Officers; Compensatory Arrangements of Certain
  Officers
Item
      9.01
Financial
      Statements and Exhibits
SIGNATURES
EXHIBIT INDEX
EXHIBIT 10.1
EXHIBIT 10.2
Item
5.02  Departure of Directors or Principal Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers
(e)           Compensatory
Arrangements of Certain Officers
On
November 10, 2008, the Compensation Committee (the "Committee") of the Board of
Directors of SanDisk Corporation (the "Company") approved certain amendments to
(i) the Company's change of control agreements with each of its named executive
officers and (ii) certain of the Company's outstanding option agreements with
its named executive officers and certain of its directors.  The
amendments are primarily technical changes intended to comply with Section 409A
of the U.S. Internal Revenue Code ('Section 409A").  The Committee
also approved an increase in the severance benefits provided to Sanjay Mehrotra,
the Company's President and Chief Operating Officer, under his agreement as
described below.  The following summaries are qualified in their
entirety by reference to the forms of change of control benefits agreement and
option agreement amendment, which are attached hereto as Exhibits 10.1 and 10.2,
respectively, and incorporated herein by reference.
The
change of control agreements have been amended to provide that cash severance
benefits under the agreements will be paid only following the executive's
"separation from service" with the Company within the meaning of Section 409A
and that such payments to executive officers may be subject to a six-month delay
period if required under Section 409A.  The amendments also include
technical changes in the timing of certain severance payments intended to comply
with Section 409A.  The Committee also authorized the establishment by
the Company of a trust, subject to the requirements of Section 409A and other
applicable tax law, for purposes of holding the severance amounts that may
become payable pursuant to the agreements.
In
general, each of the change of control agreements provides that, if a change of
control (as defined in the agreement) occurs, the executive will be treated as
having completed one additional year of vesting service for purposes of the
executive's outstanding and unvested equity awards.  In addition, if
the executive's employment is terminated by the Company without "cause" or by
the executive for "good reason" (as those terms are defined in the agreement)
within 12 months following a change of control of the Company, the executive
will be entitled to a cash payment determined by multiplying a severance
multiplier by the sum of (1) the executive's annual base salary as of the Change
of Control or termination of employment, whichever is greater, and (2) the
executive's target annual bonus for the year of termination.  The
Committee approved an increase in the severance multiplier for Mr. Mehrotra from
1.0 to 1.5.  The severance multiplier will remain 2.0 for Eli Harari,
the Company's Chairman and Chief Executive Officer, and 1.0 for each of the
other named executive officers.  The agreements also provide for the
executive to receive the following severance benefits: (i) for a period of 24
months following the termination date, continuation of the same or equivalent
life, health and other insurance coverage for the executive and his or her
spouse and eligible dependents as the coverage provided immediately prior to the
change of control; (ii) full vesting of the executive's equity awards to the
extent outstanding on the termination date and not otherwise vested, with
accelerated options to remain exercisable for 12 months following the
termination date (subject to the maximum term of the option); (iii) for a period
of 12 months following the termination, executive-level outplacement benefits;
and (iv) in the event that the executive's benefits are subject to the excise
tax imposed under Section 280G of the Internal Revenue Code, a gross-up payment
so that the net amount of such payment (after taxes) he or she receives is
sufficient to pay the excise tax due.
In
addition, the Committee approved amendments to certain outstanding stock options
held by Dr. Harari, Mr. Mehrotra, Judy Bruner, the Company's Executive Vice
President, Administration and Chief Financial Officer, and Yoram Cedar,
Executive Vice President, Mobile Business Unit and Corporate Engineering, as
well as certain outstanding options held by Irwin Federman, James D. Meindl,
Michael Marks and Catherine P. Lego, members of the Company's Board of
Directors.  The amendments eliminate a provision giving the
optionholder the right to surrender his or her option for a cash payment if a
"hostile take-over" (as that term is defined in the applicable option plan) of
the Company occurs and are intended to help bring the options into compliance
with Section 409A.
Item
9.01 Financial Statements and Exhibits
(c)
Exhibits
Number
Description
      of Document
10.1
Form
      of Amended and Restated Change of Control Benefits
    Agreement
10.2
Form
      of Option Agreement Amendment
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Date:
November 12
, 2008
SANDISK
      CORPORATION
By:
/s/ Judy Bruner
Name:
Judy
      Bruner
Title:
Executive
      Vice President, Administration and Chief Financial Officer (Principal
      Financial and Accounting
Officer)
EXHIBIT INDEX
Exhibit
Number
Description
      of Document
10
.1
Form
      of Amended and Restated Change
of
Control
Benefits
Agreement
10.2
Form
      of Option Agreement
Amendment