SEC Contract Filing

Filing Date: 2015-06-12

Document Content:
<DOCUMENT>
<TYPE>EX-10.10
<SEQUENCE>3
<FILENAME>a03312015exhibit-1010.htm
<DESCRIPTION>QUANTUM CORPORATION EXECUTIVE OFFICER INCENTIVE PLAN.
<TEXT>
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<a name="s5E91EA4BA5474D1FFDF45445EADA0397"></a><div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Exhibit 10.10</font></div></div><br><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">QUANTUM CORPORATION</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">EXECUTIVE OFFICER INCENTIVE PLAN</font><font style="font-family:inherit;font-size:10pt;">&#32;</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">May 1, 2015 Restatement</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SECTION 1. </font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">BACKGROUND AND PURPOSE</font><font style="font-family:inherit;font-size:10pt;">&#32;</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1.1 </font><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">Effective Date</font><font style="font-family:inherit;font-size:10pt;">&#32;</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Plan, which was adopted by the Company effective as of April 1, 2001, most recently was amended effective as of April 1, 2012, and last was approved by the Company&#8217;s stockholders at the 2012 Annual Meeting of Stockholders of the Company, is hereby further amended and restated effective as of May 1, 2015. </font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1.2 </font><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">Purpose of the Plan</font><font style="font-family:inherit;font-size:10pt;">&#32;</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Plan is intended to increase stockholder value and the success of the Company by motivating key executives (1) to perform to the best of their abilities, and (2) to achieve the Company&#8217;s objectives. The Plan&#8217;s goals are to be achieved by providing participants with the opportunity to earn with incentive awards for the achievement of goals relating to the performance of the Company. The Plan is intended to permit the payment of awards that qualify as performance-based compensation under Section 162(m) of the Code. </font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SECTION 2.</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">DEFINITIONS</font><font style="font-family:inherit;font-size:10pt;">&#32;</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following words and phrases shall have the following meanings unless a different meaning is plainly required by the context: </font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2.1 &#8220;</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">1934 Act</font><font style="font-family:inherit;font-size:10pt;">&#8221; means the Securities Exchange Act of 1934, as amended. Reference to a specific section of the 1934 Act or regulation thereunder shall include such section or regulation, any valid regulation promulgated under such section, and any comparable provision of any future legislation or regulation amending, supplementing or superseding such section or regulation. </font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2.2 &#8220;</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Actual Award</font><font style="font-family:inherit;font-size:10pt;">&#8221; means as to any Performance Period, the actual award (if any) payable to a Participant for the Performance Period. Each Actual Award is determined by the Payout Formula for the Performance Period, subject to the Committee&#8217;s authority under Section 3.6 to reduce or eliminate the award otherwise determined by the Payout Formula. </font></div><div s