Seagate 2007 Annual Report Download - page 172

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(iv) Transferability . Rights to acquire the value of shares of Common Stock under the Performance Share Unit agreement shall be
transferable by the Participant only upon such terms and conditions as are set forth in the Performance Share Unit agreement, as the Board
shall determine in its discretion, so long as Common Stock awarded under the Performance Share Unit agreement remains subject to the
terms of the Performance Share Unit agreement.
(v) Discretionary Adjustments and Limits . Subject to the limits imposed under Section 162(m) of the Code for Stock Awards that
are intended to qualify as “performance-based compensation,” notwithstanding the satisfaction of any performance goals, the number of
shares of Common Stock granted, issued, retainable and/or vested under a Performance Share Unit may, to the extent specified in the Stock
Award Agreement, be reduced, but not increased, by the Committee on the basis of such further considerations as the Committee shall
determine.
IX. COVENANTS OF THE COMPANY.
9.1. Availability of Shares . During the terms of the Stock Awards, the Company shall keep available at all times the number of shares of
Common Stock required to satisfy such Stock Awards.
9.2. Securities Law Compliance . The Company shall seek to obtain from each regulatory commission or agency having jurisdiction over
the Plan such authority as may be required to grant Stock Awards and to issue and sell shares of Common Stock upon exercise, redemption or
satisfaction of the Stock Awards; provided, however, that this undertaking shall not require the Company to register under the Securities Act the
Plan, any Stock Award or any Common Stock issued or issuable pursuant to any such Stock Award. If, after reasonable efforts, the Company is
unable to obtain from any such regulatory commission or agency the authority which counsel for the Company deems necessary for the lawful
issuance and sale of Common Stock under the Plan, the Company shall be relieved from any liability for failure to issue and sell Common Stock
related to such Stock Awards unless and until such authority is obtained.
X. QUALIFYING PERFORMANCE-BASED COMPENSATION
10.1. General
. The Committee may establish performance criteria and the level of achievement versus such criteria that shall determine the
number of shares of Common Stock to be granted, retained, vested, issued or issuable under or in settlement of or the amount payable pursuant
to a Stock Award (including a, Restricted Stock Bonus, Restricted Stock Purchase Right, Restricted Stock Unit, Performance Share Bonus or
Performance Share Unit award), which criteria may be based on Qualifying Performance Criteria or other standards of financial performance
and/or personal performance evaluations. In addition, the Committee may specify that a Stock Award or a portion of a Stock Award is intended
to satisfy the requirements for “performance-based compensation” under Section 162(m) of the Code, provided that the performance criteria for
such Award or portion of a Stock Award that is intended by the
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