Document:

exv10w9

 

	 	 	 	 	 

Exhibit 10.9

Western Digital Corporation

Summary of Compensation Arrangements

for

Named Executive Officers and Directors

NAMED EXECUTIVE OFFICERS

     Base Salaries. The current annual base salaries for the current executive officers of Western
Digital Corporation (the “Company”) who were named in the Summary Compensation Table in the
Company’s Proxy Statement that was filed with the Securities and Exchange Commission in connection
with the Company’s 2007 Annual Meeting of Stockholders (the “Named Executive Officers”) are as
follows:

	 	 	 	 	 	 	 
	Named Executive Officer	 	Title	 	Current Base Salary
	John F. Coyne

	 	President and Chief Executive Officer
	 	$	800,000	 
	Timothy M. Leyden

	 	Executive Vice President and Chief
Financial Officer
	 	$	450,000	 
	Raymond M. Bukaty

	 	Senior Vice President,
Administration, General Counsel and
Secretary
	 	$	400,000	 
	Hossein Moghadam

	 	Senior Vice President, Chief
Technology Officer
	 	$	400,000	 

     Semi-Annual Bonuses. Under the Company’s Incentive Compensation Plan (the “ICP”), the Named
Executive Officers are also eligible to receive semi-annual cash bonus awards that are determined
based on the Company’s achievement of performance goals pre-established by the Compensation
Committee (the “Committee”) of the Company’s Board of Directors as well as other discretionary
factors. On November 5, 2007, the Committee established the performance goals for the cash bonus
awards payable for the six-month period beginning December 31, 2007 and ending June 27, 2008.
Specifically, the Committee selected earnings per share as the financial performance goal and
established specific earnings per share goals to correspond to specific achievement percentages
ranging between 0% and 200%.

     At the end of the six-month performance period, the ICP will fund in an amount ranging from 0%
to 200% based on an interpolation between the Company’s performance as measured against the
pre-established earnings per share goals and other discretionary considerations. Each Named
Executive Officer will be eligible to receive a bonus in an amount equal to his target bonus
percentage multiplied by the funding percentage approved by the Committee, subject to further
adjustment in the discretion of the Committee depending upon the executive’s individual and
business group performance. The target bonus percentages for the Named Executive Officers under
the ICP currently range from 75% to 125% of each Named Executive Officer’s semi-annual base salary.

     Additional Compensation. The Named Executive Officers are also eligible to receive
equity-based incentives and discretionary bonuses as determined from time to time by the Committee,
are entitled to participate in various Company plans, and are subject to other written agreements,
in each case as set forth in exhibits to the Company’s filings with the Securities and Exchange
Commission. In addition, the Named Executive Officers may be eligible to receive perquisites and
other personal benefits as disclosed in the Company’s Proxy Statement that was filed with the
Securities and Exchange Commission in connection with the Company’s 2007 Annual Meeting of
Stockholders.

 

 

DIRECTORS

     Annual Retainer and Committee Retainer Fees. The following table sets forth the current
annual retainer and committee membership fees payable to each of the Company’s non-employee
directors:

	 	 	 	 	 
	 	 	Retainer Fees
	 	 	(Effective After
	Type of Fee	 	January 1, 2007)
	Annual Retainer
	 	$	75,000	 
	Lead Independent Director Retainer
	 	$	20,000	 
	Non-Executive Chairman of Board Retainer
	 	$	100,000	 
	Additional Committee Retainers
	 	 	 	 
	• Audit Committee
	 	$	10,000	 
	• Compensation Committee
	 	$	5,000	 
	• Governance Committee
	 	$	2,500	 
	Additional Committee Chairman Retainers
	 	 	 	 
	• Audit Committee
	 	$	15,000	 
	• Compensation Committee
	 	$	10,000	 
	• Governance Committee
	 	$	7,500	 

     The retainer fee to the Company’s lead independent director referred to above is paid only if
the Chairman of the Board is an employee of the Company. The annual retainer fees are generally
paid on January 1 of each year, except that the retainer to the Chairman of the Board or to the
lead independent director is paid in equal installments at the beginning of each calendar quarter.

     The Company also reimburses all non-employee directors for reasonable out-of-pocket expenses
incurred to attend each Board of Directors or committee meeting; however, since November 2005,
non-employee directors no longer receive a separate fee for each Board of Directors or committee
meeting they attend. Mr. Coyne, who is an employee of the Company, does not receive any
compensation for his service on the Board or any Board committee.

     Additional Director Compensation. The Company’s non-employee directors are also entitled to
participate in the following other Company plans as set forth in exhibits to the Company’s filings
with the Securities and Exchange Commission: Non-Employee Director Option Grant Program and
Non-Employee Director Restricted Stock Unit Grant Program, each as adopted under the Company’s
Amended and Restated 2004 Performance Incentive Plan; Amended and Restated Non-Employee Directors
Stock-for-Fees Plan; and Amended and Restated Deferred Compensation Plan.exv10w11w5

 

Exhibit 10.11.5

AMENDMENT

TO THE WESTERN DIGITAL 401(k) PLAN

The Western Digital Corporation 401(k) Plan (hereinafter referred to as the “Plan”) is hereby
amended effective January 1, 2008.

WHEREAS, Western Digital Corporation believes it is in the best interest of Participants and
desires to amend the Plan to provide for an increased Basic Matching Contribution beginning in
calendar year 2008.

NOW, THEREFORE, the Plan is hereby amended as follows:

Amendment

Increase to Basic Matching Contribution

Section 5.3.1 of the Plan is hereby amended and restated to provide as follows:

     5.3.1 As of the last day of a contribution cycle (as such term is defined in 5.3.4 below), the
Employer shall make a Basic Matching Contribution on behalf of each “Eligible Participant,” as
defined in Subsection 5.3.3 below, who is an Eligible Employee of such Employer. A Basic Matching
Contribution on behalf of an Eligible Participant under this Section 5.3 shall be in an amount
equal to fifty percent (50%) of the Eligible Participant’s Pre-Tex Contributions for the
contribution cycle which do not exceed five percent (5%) of the Eligible Participant’s Compensation
for the contribution cycle, provided, however, that each Eligible Participant shall receive
a Minimum Annual Basic Matching Contribution equal to 50% of the first $4,000 of the Eligible
Participant’s Pre-Tax Contributions for the calendar year.

Section 5.3.2 of the Plan is hereby amended and restated to provide as follows:

     5.3.2 Any Basic Matching Contribution for a contribution cycle shall be paid to the Trustee
and allocated to the Eligible Participant’s Matching Contributions Account as soon as practicable
following the last day of such contribution cycle. Any contribution necessary to provide an
Eligible Participant with the Minimum Annual Basic Matching Contribution shall be treated as a
Basic Matching Contribution for all purposes under this Plan and shall be paid to the Trustee and
allocated to the Eligible Participant’s Matching Contributions Account as soon as practicable
following the last day of the last contribution cycle of a calendar year. For avoidance of doubt,
any Participant who is an Eligible Participant for a Basic Matching Contribution with respect to
any contribution cycle in a calendar year shall be an Eligible Participant for purposes of the
Minimum Annual Basic Matching Contribution, if applicable to such Eligible Participant, for such
calendar year.

[Remainder of Page Intentionally Blank]

 

 

IN WITNESS WHEREOF, and as evidence of its adoption of this Amendment to the Plan, Western Digital
Corporation has caused this Amendment to be executed by its duly authorized officer.

	 	 	 	 	 
	Western Digital Corporation	 	 
	 
	 	 	 	 
	By:
	 	/s/ Jackie DeMaria	 	 
	 

	 	 

	 	 
	Print Name:
	 	Jackie DeMaria	 	 
	 

	 	 

	 	 
	Title:
	 	Vice President, Human Resources	 	 
	 

	 	 

	 	 
	Date:
	 	May 5, 2008exv10w1

 

EXHIBIT 10.1

FIRST AMENDMENT TO THE SEPARATION AGREEMENT

          This First Amendment (this “Amendment”), dated as of May 5, 2008, between Travelport Limited
(“Travelport”) and Orbitz Worldwide, Inc. (“OWW” and together with Travelport, the “Parties”) is
entered into to amend the Separation Agreement, dated as of July 25, 2007, between the Parties (the
“Separation Agreement”). Capitalized terms used herein shall have the respective meanings ascribed
thereto in the Separation Agreement unless herein defined.

          WHEREAS, Section 10.9 of the Separation Agreement provides that the Separation Agreement may
be amended, modified or supplemented by written agreement of the Parties; and

          WHEREAS, each of Travelport and OWW has determined that it is in its best interests to
authorize and approve the agreements set forth herein.

          NOW, THEREFORE, in consideration of the premises and other good and valuable consideration,
the receipt and sufficiency of which hereby are acknowledged, it is mutually agreed as follows:

ARTICLE I

AMENDMENTS

          Section 1.1 Section 1.1 of the Separation Agreement is hereby amended to

                    (a) Insert the following definition:

     “Parent of Travelport” means any Person that, as of the time in question,
directly or indirectly, (i) owns fifty percent (50%) or more of the voting or capital stock
of Travelport or (ii) owns fifty percent (50%) or more of the economic interest in
Travelport or has the power to elect or direct the election of fifty percent (50%) or more
of the members of the governing body of Travelport or that otherwise has control over
Travelport.

                    (b) Amend the following definitions to read in their entirety as follows:

     “Travelport Affiliated Group” means, collectively, (i) Travelport, (ii) any
direct or indirect Parent of Travelport now or hereafter existing and (iii) all direct and
indirect Subsidiaries of Persons referred to in the foregoing clauses (i) and (ii), other
than members of the OWW Affiliated Group, now or hereafter existing.

     “Trigger Date” means the first date on which the Travelport Affiliated Group
ceases to beneficially own Voting Stock entitled to fifty percent (50%) or more of the votes
entitled to be cast by the then outstanding Voting Stock.

     Section 1.2 Article I of the Separation Agreement is hereby amended to insert the
section set forth below:

 

 

     Section 1.2 Calculation of Aggregate Voting Stock. Notwithstanding any
provision of this Agreement to the contrary, during the period beginning January 1, 2008
through and including March 31, 2009, the Travelport Affiliated Group shall be deemed for
all purposes under this Agreement, including, but not limited to, the definition of Trigger
Date (but not for any other purpose) to beneficially own, in the aggregate, Voting Stock
entitled to fifty one percent (51%) of the votes entitled to be cast by the then outstanding
Voting Stock.

          Section 1.3 The initial paragraph of Section 2.10(d) of the Separation Agreement is
hereby amended by striking the phrase “or members of the Travelport Affiliated Group no longer
owning in the aggregate at least 50.1% of the equity of OWW on a fully-diluted basis, then:” and
replacing it with “or the Travelport Affiliated Group no longer beneficially owns, in the
aggregate, Voting Stock entitled to fifty percent (50%) or more of the votes entitled to be cast by
the then outstanding Voting Stock, then:”.

          Section 1.4 Section 2.10(d)(iv)(4) of the Separation Agreement is hereby amended to:

               (a) Strike the phrase “fees on any letters of credit outstanding equal to the Applicable Rate
(as such term is defined in the Travelport Credit Facility) multiplied by the daily maximum amount
then available to be drawn under such outstanding letters of credit in accordance with Section
2.03(g) of the Travelport Credit Facility” and replace it with “fees on any letters of credit (i)
issued, renewed or extended (including extensions of the term of any letter of credit) equal to the
applicable market rate obtained by Travelport from the administrative agent under the Travelport
Credit Facility (the applicable market rate having been measured on the most recent first Business
Day of January, April, July and October preceding such issuance, renewal or extension and
thereafter re-measured on the first Business Day of each January April, July and October during the
term of such letter of credit) and (ii) outstanding as of March 31, 2008 equal to the applicable
rate with respect to Term Loans that are Eurocurrency Rate Loans (as each such term is defined in
the Credit Agreement, dated as of July 25, 2007, among Orbitz Worldwide, Inc., UBS AG, Samford
Branch, UBS Loan Finance LLC and the other lenders party thereto)”.

               (b) Insert, after “December” and before “; and”, the phrase “; provided however, at no time
will the fees paid by OWW for letters of credit under this clause be less than the cost to
Travelport of providing such letters of credit”.

          Section 1.5 Section 2.10(d)(iv)(7) of the Separation Agreement is hereby amended to
strike the phrase “would exceed the capacity available for letters of credit under the Travelport
Credit Facility” and replace it with “would exceed US$75,000,000”.

          Section 1.6 Section 2.10 of the Separation Agreement is hereby amended to add the
following clauses to the end of subsection 2.10(d):

“(e) For the avoidance of doubt, as used in Section 2.10(d), (i) the term “issued”
(including terms with correlative meaning) shall include new issuances, renewals and
extensions (including extensions of term) and (ii) the terms “letter of credit”

 

 

and “letters of credit” shall mean a letter of credit or letters of credit, as the
case may be, denominated in U.S. dollars.

(f) OWW agrees to cooperate in good faith with Travelport to replace, as soon as
practicable, any letters of credit relating to the OWW Affiliated Group maintained
by Travelport under the Travelport Credit Facility that are not denominated in U.S.
dollars with either (i) borrowings under any credit facility maintained by OWW or
(ii) letters of credit denominated in U.S. dollars issued under the Travelport
Credit Facility pursuant to Section 2.10(d); provided, however, that
for any letters of credit issued under this Section 2.10(f) Travelport hereby (x)
waives the fee set forth in Section 2.10(d)(iv)(1)(b) and (y) agrees that the fee
set forth in Section 2.10(d)(iv)(4) shall be fixed at the rate in effect on the date
hereof.”

        Section 1.7 Section 8.1 of the Separation Agreement is hereby amended by inserting
after the phrase “any employees specified by the other Party through March 31, 2008”, “and, with
respect to employees listed on Schedule 8.1 hereto through December 31, 2008”. Schedule 8.1 is
attached hereto.

ARTICLE II

MISCELLANEOUS

         Section 2.1 This Amendment replaces and supersedes the letter agreement between the
Parties dated October 30, 2007. This Amendment shall become effective as of the date first written
above, except for the amendments set forth in Sections 1.4(a), 1.6 and 1.7 hereof, which shall be
effective as of April 1, 2008.

         Section 2.2 This Amendment shall be binding upon and inure to the benefit of and be
enforceable by the parties hereto or their successors in interest, except as expressly provided in
the Separation Agreement.

         Section 2.3 Nothing in this Amendment shall convey any rights upon any Person or
entity which is not a Party or a permitted assignee of a Party to the Separation Agreement.

         Section 2.4 This Amendment may be executed in counterparts, each of which shall be
deemed to be an original but all of which together shall constituted one and the same agreement.

         Section 2.5 This Amendment shall be construed and enforced in accordance with, and the
rights and duties of the Parties shall be governed by, the laws of the State of New York without
regard to the principles of conflicts of law other than Section 5-1401 of the General Obligations
Law of the State of New York.

         Section 2.6 Each Party to this Amendment agrees that, other than as expressly set out
in this Amendment, nothing in this Amendment is intended to alter the rights, duties, obligations
of the Parties under the Separation Agreement which shall remain in full force and effect as
amended hereby.

 

 

     IN WITNESS HEREOF, the parties have caused this First Amendment to the Separation Agreement to
be executed and delivered as of the date first above written.

	 	 	 	 	 
	 	TRAVELPORT LIMITED

 	 
	 	/s/ Eric J. Bock
 	 
	 	Name:  	            Eric J. Bock 	 
	 	Title:  	     Executive Vice President and

     General Counsel 	 
	 

	 	 	 	 	 
	 	ORBITZ WORLDWIDE, INC.

 	 
	 	/s/ James P. Shaughnessy
 	 
	 	Name:  	     James P. Shaughnessy 	 
	 	Title:  	     Senior Vice President,

     General Counsel

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