Seagate 2008 Annual Report Download - page 170
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Exhibit 10.11
SEAGATE TECHNOLOGY EMPLOYEE STOCK PURCHASE PLAN
(as amended and restated)
1. PURPOSE
The purpose of this Plan is to provide an opportunity for Employees of Seagate Technology, a Cayman Islands limited company (the
“Corporation”) and its Designated Subsidiaries, to purchase Common Stock of the Corporation and thereby to have an additional
incentive to contribute to the prosperity of the Corporation. It is the intention of the Corporation that the Plan qualify as an “Employee
Stock Purchase Plan” under Section 423 of the U.S. Internal Revenue Code of 1986, as amended (the “Code”), and the Plan shall be
administered in accordance with this intent. In addition, the Plan authorizes the grant of options pursuant to sub-plans or special rules
adopted by the Administrator designed to achieve desired tax or other objectives in particular locations outside of the United States,
which sub-
plans shall not be required to comply with the requirements of Section 423 of the Code or all of the specific provisions of the
Plan, including but not limited to terms relating to eligibility, Offering Periods, Purchase Periods, or Purchase Price.
2. DEFINITIONS
2.1 “ Applicable Law ” shall mean the legal requirements relating to the administration of an employee stock purchase plan
under applicable U.S. state corporate laws, U.S. federal and applicable state securities laws, the Code, any stock exchange rules or
regulations and the applicable laws of any other country or jurisdiction, as such laws, rules, regulations and requirements shall be in
place from time to time.
2.2 “Board” shall mean the Board of Directors of the Corporation.
2.3 “Code” shall mean the U.S. Internal Revenue Code of 1986, as amended. Any reference to a section of the Code herein shall
be a reference to any successor or amended section of the Code.
2.4 “Committee” shall mean the committee appointed by the Board in accordance with Section 15 of the Plan.
2.5 “Common Stock” shall mean the Common Stock of the Corporation, or any securities into which such Common Stock may
be converted.
2.6 “Compensation” shall mean an Employee’s base cash compensation and commissions, but shall exclude such items as
allowances, differentials, bonuses or premiums such as those for working shifts or overtime, payments for incentive compensation,
incentive payments, bonuses, income from the exercise or vesting or the sale, exchange or other disposition of a compensatory stock
award granted to the Employee by the Corporation or a Designated Subsidiary, and other forms