Feeds

Outgoing Seagate CEO: Bill's big bill

Failure has its own rewards

Combat fraud and increase customer satisfaction

Seagate terminated ex-CEO Bill Watkin's employment on 4 February and will pay him $5m according to SEC filings.

Watkins resigned as a director on that date. A separation agreement is now in force between him and Seagate and, as a consideration for agreeing to it, the bill for Bill is cash payments totalling $5,000,008. This equals the sum of 24 months of his annual salary and two times his target annual bonus level for the Company’s prior fiscal year, in two equal installments: one installment of $2,500,004, payable on or before February 26, 2009, and a second installment of $2,500,004 payable within 10 business days of December 2, 2009.

There is a separate lump sum cash payment of $29,944, payable on or before 26 February, 2009, to help defray continued health insurance coverage costs.

The agreement precludes Watkins being employed by any Seagate competitor, soliciting business from Seagate customers or getting Seagate employees to work for anyone else up to 2 December this year. After that, he is free to do what he wants. ®

3 Big data security analytics techniques

More from The Register

next story
This time it's 'Personal': new Office 365 sub covers just two devices
Redmond also brings Office into Google's back yard
Kingston DataTraveler MicroDuo: Turn your phone into a 72GB beast
USB-usiness in the front, micro-USB party in the back
AMD's 'Seattle' 64-bit ARM server chips now sampling, set to launch in late 2014
But they won't appear in SeaMicro Fabric Compute Systems anytime soon
Microsoft's Nadella: SQL Server 2014 means we're all about data
Adds new big data tools in quest for 'ambient intelligence'
BOFH: Oh DO tell us what you think. *CLICK*
$%%&amp Oh dear, we've been cut *CLICK* Well hello *CLICK* You're breaking up...
prev story

Whitepapers

Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.