EXECUTIVE RETENTION AGREEMENTExecutive Retention Agreement • May 6th, 2005 • Komag Inc /De/ • Magnetic & optical recording media • California
On May 14, 2002, the United States Bankruptcy Court for the Northern District of California entered an order confirming the “Debtor’s Further Modified First Amended Plan of Reorganization, Dated May 7, 2002” (the “Plan”), which provides for a reorganization (the “Reorganization”) of Komag, Inc., a Delaware corporation (the “Company”). The Plan became effective by its terms on June 30, 2002. This Agreement was originally entered into as of July 17, 2002 and is currently being reinstated as of May 4, 2005 (the “Effective Date”) by and between the Company and William Hammack (“Executive”). The purpose of this Agreement is to provide Executive with an incentive to remain employed as a key executive of the Company following the Reorganization.
