Seagate 2008 Annual Report Download - page 175

the duration and/or frequency of Purchase Periods with respect to future purchases if such change is announced at least five (5) days
prior to the scheduled beginning of the first Purchase Period to be affected.
5. PARTICIPATION
5.1 An Employee who is eligible to participate in the Plan in accordance with its terms at the beginning of an Offering Period
shall automatically receive an option in accordance with Section 8.1 and may become a Participant by completing and submitting, on or
before the date prescribed by the Committee with respect to a given Offering Period, a completed payroll deduction authorization and
Plan enrollment form provided by the Corporation or by following an electronic or other enrollment process as prescribed by the
Committee. An eligible Employee may authorize payroll deductions at the rate of any whole percentage of the Employee’s
Compensation, not to exceed ten percent (10%) of the Employee’s Compensation (or such other percentage as the Committee may
establish from time to time before an Offering Date) of such Employee’
s Compensation on each payday during the Offering Period. All
payroll deductions will be held in a general corporate account or a trust account. No interest shall be paid or credited to the Participant
with respect to such payroll deductions. The Corporation shall maintain a separate bookkeeping account for each Participant under the
Plan and the amount of each Participant’s payroll deductions shall be credited to such account. A Participant may not make any
additional payments into such account, unless payroll deductions are prohibited under Applicable Law, in which case the provisions of
Section 5.2 of the Plan shall apply.
5.2 Notwithstanding any other provisions of the Plan to the contrary, in locations where local law prohibits payroll deductions, an
eligible Employee may elect to participate through contributions to his or her account under the Plan in a form acceptable to the
Committee. In such event, any such Employees shall be deemed to be participating in a sub-plan, unless the Committee otherwise
expressly provides that such Employees shall be treated as participating in the Plan.
5.3 Under procedures and at times established by the Committee, a Participant may withdraw from the Plan during a Purchase
Period, by completing and filing a new payroll deduction authorization and Plan enrollment form with the Corporation or by following
electronic or other procedures prescribed by the Committee. If a Participant withdraws from the Plan during a Purchase Period, his or
her accumulated payroll deductions will be refunded to the Participant without interest, his or her right to participate in the current
Offering Period will be automatically terminated and no further payroll deductions for the purchase of Common Stock will be made
during the Offering Period. The Committee may establish rules pertaining to the timing of withdrawals, limiting the frequency with
which Participants may withdraw and re-enroll in the Plan and may impose a waiting period on Participants wishing to re-enroll
following withdrawal.
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