{"id":38525,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/annual-executive-annual-incentive-plan-vp-symantec.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"annual-executive-annual-incentive-plan-vp-symantec","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/annual-executive-annual-incentive-plan-vp-symantec.html","title":{"rendered":"Annual Executive Annual Incentive Plan (VP) – Symantec"},"content":{"rendered":"

FY12 Executive Annual Incentive Plan<\/strong>Executive Vice
\nPresident & Group President : 95%<\/strong><\/p>\n

This Annual Incentive Plan (“Plan”) of Symantec Corporation (“Symantec”) is
\neffective as of April 2, 2011. The Board of Directors reserves the right to
\nalter or cancel all or any portion of the Plan for any reason at any time.<\/p>\n

1<\/p>\n

\n

FY12 Executive Annual Incentive Compensation Plan<\/strong><\/p>\n\n\n\n\n<\/tr>\n\n\n\n\n\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Job Category:<\/strong><\/td>\n<\/td>\nExecutive Vice President and Group President<\/strong>\n<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Purpose:<\/p>\n<\/td>\n

<\/td>\n\n

Provide critical focus on specific, measurable corporate and division goals
\nand provide performance-based compensation based upon the level of attainment of
\nsuch goals.<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Bonus Target:<\/p>\n<\/td>\n

<\/td>\n\n

The target incentive bonus for this job category is 95% of the annual salary.
\nAnnual base salary has been established at the beginning of the fiscal year.
\nBonuses will be calculated based on actual base salary earnings from time of
\neligibility under the Plan through March 30, 2012. (Base salary earnings for the
\npurpose of this Plan do not include any PTO accrual payments.) Payments will be
\nsubject to applicable payroll taxes and withholdings.<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Bonus Payments:<\/p>\n<\/td>\n

<\/td>\n\n

The annual incentive bonus will be paid once annually. Payment will be made
\nwithin six weeks after the end of the fiscal year but in the event the amount
\ncannot be calculated within such six weeks in no event may payments be made
\nlater than 2-1\/2 (two and a half) months after the end of the fiscal year.
\nPayments made pursuant to this Plan are at the sole discretion of the
\nAdministrator of the Plan.<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Components:<\/p>\n<\/td>\n

<\/td>\n\n

Three performance metrics will be used in the determination of the annual
\nincentive bonus payment as determined by the Administrator. The Company153s
\nreported numbers are based on GAAP Corporate Revenue and non-GAAP EPS results.
\nThe Individual Performance metric is evaluated based on the individual153s Victory
\nPlan results. The President & CEO and the Board of Directors reserve the
\nright to determine final payout level for the individual performance metric.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
Metric<\/em><\/strong><\/td>\n<\/td>\nWeighting<\/em><\/strong><\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
\n

Corporate Revenue<\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

50<\/p>\n<\/td>\n

\n

%<\/p>\n<\/td>\n<\/tr>\n

\n

Corporate Earnings per Share<\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

20<\/p>\n<\/td>\n

\n

%<\/p>\n<\/td>\n<\/tr>\n

\n

Individual Performance\/Victory Plan Results<\/p>\n<\/td>\n

<\/td>\n<\/td>\n\n

30<\/p>\n<\/td>\n

\n

%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n<\/tr>\n\n\n\n\n\n
<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Achievement Schedule:<\/p>\n<\/td>\n

<\/td>\n\n

An established threshold must be exceeded for each of the applicable
\nperformance metrics before the portion of the bonus applicable to such
\nperformance metric will be paid. All three metrics are capped.<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Pro-ration:<\/p>\n<\/td>\n

<\/td>\n\n

The calculation of the annual incentive bonus will be determined, in part,
\nbased on eligible base salary earnings for the fiscal year and, subject to the
\neligibility requirements below, will be pro-rated based on the number of days
\nthe participant is actively employed as a regular status employee of Symantec
\nduring the fiscal year. If a participant takes a leave of absence from the
\nCompany during the fiscal year, any payments received by the participant as an
\nincome protection benefit will not be counted toward base salary earnings for
\nthe purpose of bonus calculations.<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
\n

Eligibility:<\/p>\n<\/td>\n

<\/td>\n\n

Participants must be regular status employees on the day bonus checks are
\ndistributed To earn the bonus. If the company grants an interim payment for any
\nreason, the Participant must be a regular status employee at the end of the
\nfiscal year in order to receive such payment. Ongoing contributions toward the
\nCompany153s overall success, particularly toward year end is of particular
\nbusiness importance. As such, a participant who leaves before the end of the
\nfiscal year will not be eligible to earn the annual incentive bonus or any
\npro-rated portion thereof. The Plan participant must be a regular status
\nemployee of Symantec at the end of the fiscal year in order to be eligible<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

2<\/p>\n

\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-38525","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\/38525","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=38525"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=38525"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=38525"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=38525"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}