{"id":38374,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/2000-directors-equity-incentive-plan-symantec.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"2000-directors-equity-incentive-plan-symantec","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/2000-directors-equity-incentive-plan-symantec.html","title":{"rendered":"2000 Directors Equity Incentive Plan – Symantec"},"content":{"rendered":"

SYMANTEC CORPORATION <\/strong><\/p>\n

2000 DIRECTOR EQUITY INCENTIVE PLAN <\/strong><\/p>\n

(as amended and restated on April 26, 2011 <\/strong>\n<\/p>\n

and subject to stockholder approval) <\/strong><\/p>\n

1. Purpose. <\/strong>The purpose of this Symantec Corporation 2000
\nDirectors Equity Incentive Plan (the “Plan”) is to provide members of the Board
\nof Directors (the “Board”) of Symantec Corporation (the “Company”) with an
\nopportunity to receive common stock of the Company for all or a portion of the
\nretainer payable to each director of the Company (the “Retainer”).<\/p>\n

2. Stock Issuance. <\/strong>Subject to the approval of this Plan by
\nthe stockholders of the Company, any or all of the Retainer payable to each
\ndirector of the Company, currently set at $50,000 per year, may be payable in
\nthe form of an award of unrestricted, fully-vested shares of common stock of the
\nCompany (the “Stock”).<\/p>\n

3. Election by Directors. <\/strong>Each Director shall, at the first
\nmeeting of the Board held after stockholder approval of this Plan and thereafter
\nat the first meeting of the Board held in each fiscal year beginning with fiscal
\nyear 2002, elect to receive up to all of the Retainer payable to such director
\nin the form of Stock. Each director shall specify what portion, from 0% to 100%,
\nof the Retainer shall be paid to such director in Stock; provided, that if no
\nelection is made by a director at such meeting, such director shall be deemed to
\nhave elected to receive 50% of the Retainer in Stock.<\/p>\n

4. Amount of Stock. <\/strong>The number of shares of Stock to be
\nissued each year to each director pursuant to this Plan shall be the portion, if
\nany, of the Retainer for such year which the director has elected (or deemed to
\nhave elected) to be paid in Stock, divided by the fair market value of the
\ncommon stock of the Company on the date such election is made (or deemed to have
\nbeen made) by such director (the “Fair Market Value”).<\/p>\n

5. Number of Shares. <\/strong>The total number of shares reserved for
\nissuance under the Plan shall be 200,000 shares of common stock. In the event
\nthat the number of outstanding shares of the Company153s common stock is changed
\nby a stock dividend, recapitalization, stock split, reverse stock split,
\nsubdivision, combination, reclassification or similar change in the capital
\nstructure of the Company without consideration, then (a) the number of shares
\nreserved for issuance under this Plan, and (b) the Stock subject to outstanding
\nawards under this Plan, will be proportionately adjusted, subject to any
\nrequired action by the Board or the stockholders of the Company and compliance
\nwith applicable securities laws; provided, however, that fractions of a share of
\nStock will not be issued but will either be replaced by a cash payment equal to
\nthe Fair Market Value of such fraction of a share or will be rounded up to the
\nnearest whole share, as determined by the Administrator (defined below).<\/p>\n

6. Administration of Plan. <\/strong>This Plan shall be administered
\nby the Board or by a committee of at least two Board members to which
\nadministration of the Plan is delegated by the Board (in either case, the
\n“Administrator”). The Administrator shall ratify and approve all awards of Stock
\nto the directors pursuant to this Plan. All questions of interpretation,
\nimplementation, and application of this Plan shall be determined by the
\nAdministrator. Such determinations shall be final and binding on all persons.\n<\/p>\n

7. Amendment to the Plan. <\/strong>The Board may at any time amend,
\nalter, suspend or discontinue this Plan. No amendment, alteration, suspension or
\ndiscontinuance shall require shareholder approval unless such amendment would
\nincrease the number of shares of Stock issuable under this Plan.<\/p>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[8992],"corporate_contracts_industries":[9513],"corporate_contracts_types":[9539,9546],"class_list":["post-38374","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-symantec-corp","corporate_contracts_industries-technology__software","corporate_contracts_types-compensation","corporate_contracts_types-compensation__incentive"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/38374","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=38374"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=38374"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=38374"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=38374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}