Seagate 2013 Annual Report Download - page 165

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Seagate Technology Confidential
BENEFITS SCHEDULES
FOR THE SEAGATE TECHNOLOGY
EXECUTIVE SEVERANCE AND CHANGE IN CONTROL (CIC) PLAN
Benefits Payable in the Event of a Termination Event (involuntary termination) :
WITHOUT A CHANGE IN CONTROL
DURING A CHANGE IN CONTROL PERIOD
Note: No enhanced benefits due to a Termination Event occurring within a Change in
Control Period shall be paid prior to the effective date of a Change in Control.
Tier:
4
Salary Grade:
180
Location:
U.S.
Base
12 months of Pay
Bonus
Prior Year Bonus, if applicable, and Pro Rata Bonus
Other
Outplacement services for one year following the Termination Date
Payout Schedule
The lesser of (i) 100% of the Benefit and (ii) twice the compensation limit then in effect under Section 401(a)(17) of the
Code, payable within 20 business days following the Payment Confirmation Date, with the remainder, if any, payable 6
months and 1 day following the Termination Date.
Base
12 months of Pay
Bonus
12 months of Target Bonus (less any Pro Rata Bonus already paid, if applicable)
Equity
Upon the later of (i) a Termination Event occurring during a Change in Control Period and (ii) immediately prior to the
effective date of a Change in Control, other than as provided herein, there shall be full vesting of all unvested equity-
based awards (whether or not granted prior to or following the adoption of this Plan). Notwithstanding the applicable
provisions of the Eligible Executive’s award agreements or the relevant stock compensation plan governing such equity-
based awards, if a Termination Event occurs during a Change in Control Period but prior to the effective date of the
Change in Control, no unvested awards shall lapse or be forfeited solely on account of such Termination Event; provided,
however, if the Change in Control has not occurred within the 6-month period following the Termination Event, all such
unvested awards shall automatically lapse at the end of such 6-month period. In addition, if an award agreement specifies
the manner and extent to which such award shall become accelerated in connection with a Change in Control, the terms
of such award agreement will govern for purposes of determining the number of shares that will become vested in
connection with a Termination Event during a Change in Control Period.
Other
Continued Coverage Payment, and
Outplacement services for one year following the Termination Date
Payout Schedule
The lesser of (i) 100% of the Benefit and (ii) twice the compensation limit then in effect under Section 401(a)(17) of the
Code, payable within 20 business days following the Payment Confirmation Date, with the remainder, if any, payable 6
months and 1 day following the Termination Date.