Seagate 2007 Annual Report Download - page 164

Option shall terminate on the earlier of (i) the expiration of the term of the Option set forth in the Option Agreement or (ii) the expiration of a
period of three (3) months after the termination of the Optionholder’s Continuous Service during which the exercise of the Option would not be
in violation of such registration requirements or other applicable securities law.
6.10 Disability of Optionholder . In the event that an Optionholder’s Continuous Service terminates as a result of the Optionholder’s
Disability, the Optionholder may exercise his or her Option (to the extent that the Optionholder was entitled to exercise such Option as of the
date of termination), but only within such period of time ending on the earlier of (i) the date twelve (12) months following such termination (or
such longer or shorter period specified in the Option Agreement) or (ii) the expiration of the term of the Option as set forth in the Option
Agreement. If, after termination, the Optionholder does not exercise his or her Option within the time specified herein, the Option shall
terminate.
6.11 Death of Optionholder . In the event (i) an Optionholder’s Continuous Service terminates as a result of the Optionholder’s death or
(ii) the Optionholder dies within the period (if any) specified in the Option Agreement after the termination of the Optionholder’s Continuous
Service for a reason other than death, then the Option may be exercised (to the extent the Optionholder was entitled to exercise such Option as of
the date of death) by the Optionholder’s estate, by a person who acquired the right to exercise the Option by bequest or inheritance or by a
person designated to exercise the Option upon the Optionholder’s death pursuant to Section 6.5 or 6.6 of the Plan, but only within the period
ending on the earlier of (l) the date twelve (12) months following the date of death (or such longer or shorter period specified in the Option
Agreement) or (2) the expiration of the term of such Option as set forth in the Option Agreement. If, after death, the Option is not exercised
within the time specified herein, the Option shall terminate.
6.12 Early Exercise . The Option may, but need not, include a provision whereby the Optionholder may elect at any time before the
Optionholder’s Continuous Service terminates to exercise the Option as to any part or all of the shares of Common Stock subject to the Option
prior to the full vesting of the Option. Any unvested shares of Common Stock so purchased may be subject to a repurchase option in favor of the
Company or to any other restriction the Board determines to be appropriate.
VII. NON-DISCRETIONARY STOCK AWARDS FOR ELIGIBLE DIRECTORS.
In addition to any other Stock Awards that Eligible Directors may be granted on a discretionary basis under the Plan, each Eligible Director
of the Company shall be automatically granted without the necessity of action by the Board, the following Stock Award grants:
7.1. Initial Stock Award Grant .
(i) Form of Initial Stock Award . On the date that a Director commences service on the Board and satisfies the definition of an
Eligible Director, an initial grant of Nonstatutory Stock Options and/or Full-Value Stock Awards shall automatically be made to that
Eligible Director (collectively, the “Initial Grant”). The existing independent members of the Board shall determine which portion of each
Initial Grant will be granted in the form of a Nonstatutory Stock Option, if any, and which portion of each Initial Grant will be granted in
the form of a Full-Value Stock Award, if any.
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