Seagate 2008 Annual Report Download - page 176

5.4 A Participant may change his or her rate of contribution through payroll deductions only during an open enrollment period or
such other times specified by the Committee by filing a new payroll deduction authorization and Plan enrollment form or by following
electronic or other procedures prescribed by the Committee. If a Participant has not followed such procedures to change the rate of
contribution, the rate of contribution shall continue at the originally elected rate throughout the Purchase Period and future Purchase
Periods (including Purchase Periods of subsequent Offering Periods). Notwithstanding the foregoing, to the extent necessary to comply
with Section 423(b)(8) of the Code, the Committee may reduce a Participant’s payroll deductions to zero percent (0%) at any time
during a Purchase Period scheduled to end during the current calendar year. Payroll deductions shall re-commence at the rate provided
in such Participant’s enrollment form at the beginning of the first Purchase Period which is scheduled to end in the following calendar
year, unless terminated by the Participant as provided in Section 5.3.
6. TERMINATION OF EMPLOYMENT
In the event any Participant terminates employment with the Corporation and its Designated Subsidiaries for any reason (including
death) prior to the expiration of a Purchase Period, the Participant’s participation in the Plan shall terminate and all amounts credited to
the Participant’s account shall be paid to the Participant or, in the case of death, to the Participant’s heirs or estate, without interest.
Whether a termination of employment has occurred shall be determined by the Committee. If a Participant’
s termination of employment
occurs within a certain period of time as specified by the Committee (not to exceed 30 days) prior to the Purchase Date of the Purchase
Period then in progress, his or her option for the purchase of shares of Common Stock will be exercised on such Purchase Date in
accordance with Section 9 as if such Participant were still employed by the Corporation. Following the purchase of shares on such
Purchase Date, the Participant’s participation in the Plan shall terminate and all amounts credited to the Participant’s account shall be
paid to the Participant or, in the case of death, to the Participant’s heirs or estate, without interest. The Committee may also establish
rules regarding when leaves of absence or changes of employment status will be considered to be a termination of employment,
including rules regarding transfer of employment among Designated Subsidiaries, Subsidiaries and the Corporation, and the Committee
may establish termination-of-employment procedures for this Plan that are independent of similar rules established under other benefit
plans of the Corporation and its Subsidiaries; provided that such procedures are not in conflict with the requirements of Section 423 of
the Code.
7. STOCK
Subject to adjustment as set forth in Section 11, the maximum number of shares of Common Stock, which may be issued pursuant to
the Plan shall be thirty million (30,000,000) shares, plus an automatic annual increase (the “Annual Increase”) on the first day of the
Corporation’s fiscal year beginning in 2003
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