WDC » Topics » Retention Agreements with Mr. Coyne and Dr. Moghadam

This excerpt taken from the WDC DEF 14A filed Sep 23, 2008.
Retention Agreements with Mr. Coyne and Dr. Moghadam
On September 21, 2004, we entered into retention agreements with each of Mr. Coyne and Dr. Moghadam. Pursuant to these agreements, Mr. Coyne received a cash award in the amount of $300,000 and Dr. Moghadam received a cash award in the amount of $450,000. Each award vested and became payable 25% on September 1, 2005, 30% on September 1, 2006 and 45% on September 1, 2007. The last installment payable to Mr. Coyne and Dr. Moghadam under these agreements on September 1, 2007 is included in the Bonus column of the “Fiscal 2007 and 2008 Summary Compensation Table” above.
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