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WDC » Topics » Long-Term Incentive Plans - Awards in Last Fiscal Year

This excerpt taken from the WDC DEF 14A filed Dec 15, 2006.
Long-Term Incentive Plans — Awards in Last Fiscal Year
 
The following table sets forth the dollar value of a long-term cash award granted to each of Mr. Coyne and Dr. Moghadam during fiscal 2006. Each long-term cash award is subject to our 2004 Performance Incentive Plan and a separate award agreement.
 
                                         
    Number of
 		                         
    Shares, Units
 		    Performance or
 		    Estimated Future Payouts Under Non-Stock Price-Based Plans(1)  
    or Other
 		    Other Period Until
 		    Threshold
 		    Target
 		    Maximum
 		 
Name
  Rights (#)(1)     Maturation or Payout     ($)     ($)     ($)  
 
John F. Coyne
    —       7/01/06 - 6/27/08       0       600,000       1,200,000  
Hossein M. Moghadam
    —       12/31/05 - 6/29/07       0       150,000       300,000  
 
 
(1) The long-term cash award is valued at a target amount as determined by the administrator of our 2004 Performance Incentive Plan and will be payable in cash at the end of the applicable performance period based upon the achievement of one or more objective performance goals set forth in the applicable award agreement. No amount will be payable if minimum performance levels are not achieved and up to a maximum of 200% of the target cash award will be payable if performance exceeds the target level. In the event the recipient ceases to be employed by us or any of our subsidiaries before the end of the applicable performance period, the long-term cash award will terminate, except that in the event of a recipient’s death, a pro rata portion of the long-term cash award will be payable to the recipient’s legal representative as further provided in the applicable award agreement. If eligible, each recipient will be permitted to defer payment of the long-term cash award covered by his agreement pursuant to our Deferred Compensation Plan. In addition, subject to certain limitations, 100% of the target award amount (or such greater percentage as the Compensation Committee may deem appropriate in the circumstances) will become payable upon the occurrence of a change in control event.
 
This excerpt taken from the WDC 10-K filed Nov 20, 2006.
Long-Term Incentive Plans — Awards in Last Fiscal Year
 
The following table sets forth the dollar value of a long-term cash award granted to each of Mr. Coyne and Dr. Moghadam during fiscal 2006. Each long-term cash award is subject to our 2004 Performance Incentive Plan and a separate award agreement.
 
                                         
    Number of
 		  Performance or
 		  Estimated Future Payouts Under
    Shares, Units
 		  Other Period Until
 		  Non-Stock Price-Based Plans(1)
    or Other
 		  Maturation or
 		  Threshold
 		  Target
 		  Maximum
Name
  Rights (#)(1)   Payout   ($)   ($)   ($)
 
John F. Coyne
    —       7/01/06 - 6/27/08       —       600,000       1,200,000  
Hossein M. Moghadam
    —       12/31/05 - 6/29/07       —       150,000       300,000  
 
 
(1) The long-term cash award is valued at a target amount as determined by the administrator of our 2004 Performance Incentive Plan and will be payable in cash at the end of the applicable performance period based upon the achievement of one or more objective performance goals set forth in the applicable award agreement. No amount will be payable if minimum performance levels are not achieved and up to a maximum of 200% of the target cash award will be payable if performance exceeds the target level. In the event the recipient ceases to be employed by us or any of our subsidiaries before the end of the applicable performance period, the long-term cash award will terminate, except that in the event of a recipient’s death, a pro rata portion of the long-term cash award will be payable to the recipient’s legal representative as further provided in the applicable award agreement. If eligible, each recipient will be permitted to defer payment of the long-term cash award covered by his agreement pursuant to our Deferred Compensation Plan. In addition, subject to certain limitations, 100% of the target award amount (or such greater percentage as the Compensation Committee may deem appropriate in the circumstances) will become payable upon the occurrence of a change in control event.
 

EXCERPTS ON THIS PAGE:

DEF 14A
Dec 15, 2006
10-K
Nov 20, 2006

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