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Sherman Black President and COO of Rimage

After a 20-year career at Seagate

Rimage Corporation announced the appointment of Sherman L. Black as President and Chief Operating officer.

rimage_sherman_black_president_and_coo

Black, 44, is scheduled to start April 1, 2009. He will report to Bernard P. Aldrich, the Company’s current President and Chief Executive Officer, who will continue to serve as Chief Executive Officer following Mr. Black’s appointment.

Aldrich commented: “We are very pleased to have an executive of Sherman’s capabilities join Rimage. Given his wide-ranging and highly successful career with Seagate Technology, his appointment will significantly strengthen our senior management team. In addition to being responsible for Rimage’s daily operations, he will help us formulate a long-range strategic plan and explore new business opportunities and technologies.”

Black most recently served as Senior Vice President, Marketing and Strategy, of the Core Products Business Group of Seagate
Technology, a world leader in the design, manufacturing and marketing of hard disk drives and storage devices. During his 20-year career with Seagate, Black also held a range of other executive positions, including General Manager and Senior Vice President of the Enterprise Storage business unit, Vice President of Global OEM Sales, Vice President of Business Development, and Vice President of Enterprise Product Line Management.

In connection with his appointment as President and Chief Operating Officer, Mr. Black will receive an ‘inducement award’ as defined by Nasdaq Marketplace Rules, consisting of a nonqualified stock option to purchase 200,000 shares of the Company’s common stock. The option will be granted on the date Mr. Black’s employment with the Company commences and will have an exercise price equal to the fair market value of the Company’s common stock on the date of the grant. The shares will vest in four equal installments on each of the first four anniversaries of the date of grant and will have a term of seven years. The inducement award will be granted outside of the terms of the existing Company equity incentive plans, was approved by the Compensation Committee of the Company’s Board of Directors, and was granted pursuant to Nasdaq Marketplace Rule 4350(i)(1)(A)(iv).

Comments

Prior to joining Seagate in 1988, Black was a design engineer at Hitachi Computer Products.

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