Feeds

Outgoing Seagate CEO: Bill's big bill

Failure has its own rewards

5 things you didn’t know about cloud backup

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. ®

5 things you didn’t know about cloud backup

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?