Seagate 2013 Annual Report Download - page 170
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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.
Base
The number of months of Pay equal to the sum of (i) six months plus , (ii) one additional month for each year of service
over six years, subject to an aggregate maximum of 24 months (
“
Singapore Severance Pay Amount
”
)
Bonus
Prior Year Bonus, if applicable
Other
Outplacement services for 18 months following the Termination Date
Payout Schedule
The lesser of (i) 100% of the Singapore Severance Pay Amount 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 of the Singapore Severance Pay Amount, if any, payable 6 months and 1 day following the Termination
Date.
Base
Singapore Severance Pay Amount (as defined above)
Bonus
18 months of Target Bonus
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
Outplacement services for 18 months following the Termination Date
Payout Schedule
The lesser of (i) 100% of the Non-U.S. 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.