Exhibit 10.32
Western Digital Corporation
Summary of Compensation Arrangements
for
Named Executive Officers and Directors
Named Executive Officers
This summary sheet reports current base salaries and certain other compensation of the current executive officers of Western Digital Corporation (the “Company”) who were named in the Summary Compensation Table in the Proxy Statement filed by the Company in connection with the Company’s 2004 Annual Meeting of Shareholders (the “Named Executive Officers”).
| Named Executive Officer | Current Base Salary | |||||
| Matthew E. Massengill | $800,000 | |||||
| Chairman and Chief | ||||||
| Executive Officer | ||||||
| Arif Shakeel | $580,000 | |||||
| President and Chief | ||||||
| Operating Officer | ||||||
| Stephen D. Milligan | $350,000 | |||||
| Senior Vice President and | ||||||
| Chief Financial Officer | ||||||
| Raymond M. Bukaty | $350,000 | |||||
| Senior Vice President, | ||||||
| Administration, General | ||||||
| Counsel and Secretary |
The Named Executive Officers were awarded cash performance bonuses and performance shares on January 20, 2005, as disclosed in Item 1.01 of the Company’s Current Report on Form 8-K, filed with the Securities and Exchange Commission on January 26, 2005, which is incorporated herein by reference.
The Named Executive Officers are entitled to participate in various Company plans as set forth in the 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.
Directors
The Company’s non-employee directors receive an annual retainer of $40,000 in January, or if they join the Company’s Board of Directors (the “Board”) at a later date, they receive a proportion of the annual fee corresponding to the period for which they serve. The non-employee directors also receive compensation of $2,500 for each session during which they attend a Board meeting, $1,500 for any and all committee meetings attended, $1,250 for each Board meeting and $750 for each committee meeting held by telephone conference, and reimbursement of reasonable out-of-pocket expenses incurred in attending each meeting. In addition, the chairman of each committee of the Board receives an annual retainer of $5,000. Mr. Massengill and Mr. Shakeel, who are employees of the Company, do not receive any compensation for their service on the Board or any Board committee.
The Company’s non-employee directors are entitled to participate in various Company plans as set forth in the exhibits to the Company’s filings with the Securities and Exchange Commission.
