Seagate 2008 Annual Report Download - page 183

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any Designated Subsidiary or to interfere with the right of the Corporation or Designated Subsidiary to discharge any Employee or
other individual at any time, for any reason or no reason, with or without notice.
20. GOVERNING LAW
This Plan shall be governed by applicable laws of the State of California.
21. EFFECTIVE DATE
This Plan shall be effective on the Effective Date, subject to approval of the Shareowners of the Corporation within twelve (12) months
before or after its date of adoption by the Board.
22. REPORTS
Individual accounts shall be maintained for each Participant in the Plan. Statements of account shall be given to Participants at least
annually, which statements shall set forth the amounts of payroll deductions, the Purchase Price, the number of shares of Common
Stock purchased and the remaining cash balance, if any.
23. DESIGNATION OF BENEFICIARY FOR OWNED SHARES
With respect to shares of Common Stock purchased by the Participant pursuant to the Plan and held in an account maintained by the
Corporation or its assignee on the Participant’
s behalf, the Participant may be permitted to file a written designation of beneficiary, who
is to receive any shares and cash, if any, from the Participant’s account under the Plan in the event of such Participant’s death
subsequent to the end of a Purchase Period but prior to delivery to him or her of such shares and cash. In addition, a Participant may
file a written designation of a beneficiary who is to receive any cash from the Participant’s account under the Plan in the event of such
Participant’s death prior to the Purchase Date of an Offering Period. If a Participant is married and the designated beneficiary is not the
spouse, spousal consent shall be required for such designation to be effective, to the extent required by local law. The Participant (and if
required under the preceding sentence, his or her spouse) may change such designation of beneficiary at any time by written notice.
Subject to local legal requirements, in the event of a Participant’s death, the Corporation or its assignee shall deliver any shares of
Common Stock and/or cash to the designated beneficiary. Subject to local law, in the event of the death of a Participant and in the
absence of a beneficiary validly designated who is living at the time of such Participant’s death, the Corporation shall deliver such
shares of Common Stock and/or cash to the executor or administrator of the estate of the Participant, or if no such executor or
administrator has been appointed (to the knowledge of the Corporation), the Corporation in its sole discretion, may deliver (or cause its
assignee to deliver) such shares of Common Stock and/or cash to the spouse, or to any one or more
14