{"id":39983,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/fy11-executive-annual-incentive-plan-symantec2.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"fy11-executive-annual-incentive-plan-symantec2","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/fy11-executive-annual-incentive-plan-symantec2.html","title":{"rendered":"FY11 Executive Annual Incentive Plan – Symantec"},"content":{"rendered":"

FY11 Executive Annual Incentive Plan<\/strong>Chief Executive
\nOfficer<\/strong><\/p>\n

This Annual Incentive Plan (“Plan”) of Symantec Corporation (“Symantec”) is
\neffective as of April 3, 2010. 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

FY11 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>\nChief Executive Officer<\/strong><\/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 goals and provide
\nperformance-based compensation based upon the level of attainment of such goals.\n<\/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 position is 150% of the annual base
\nsalary. Annual base salary has been established at the beginning of the fiscal
\nyear. Bonuses will be paid based on actual annual base salary earnings from time
\nof eligibility under the Plan through April 1, 2011. Payments will be subject to
\napplicable 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. Any
\npayment due under this Plan is at the sole discretion of the Administrator of
\nthe Plan.<\/p>\n<\/td>\n<\/tr>\n

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

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

<\/td>\n\n

Two performance metrics will be used to determine the annual incentive bonus
\npayment as determined by the Administrator.<\/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

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

\n

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

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

The Company153s reported numbers are based on GAAP Corporate Revenue &
\nnon-GAAP EPS results.<\/p>\n<\/td>\n<\/tr>\n

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

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

<\/td>\n\n

The established threshold must be exceeded for the applicable performance
\nmetric before the bonus applicable to such performance metric will be paid. Both
\nCorporate Revenue and Corporate EPS achievements 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 based on eligible base
\nsalary earnings for the fiscal year and, subject to the eligibility requirements
\nbelow, will be pro-rated based on the number of days the participant is employed
\nas a regular status employee of Symantec during the fiscal year.<\/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. If the Company grants an interim payment for any reason, the
\nparticipant must be a regular status employee at the end of that performance
\nperiod in order to receive such payment. A participant who leaves before the end
\nof the fiscal year will not be eligible to receive the annual incentive bonus or
\nany pro-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 to
\nreceive the annual incentive bonus and<\/u> at the time the bonus checks are
\ndistributed, unless otherwise determined by the Administrator.<\/p>\n<\/td>\n<\/tr>\n

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

To be eligible for the plan in the given fiscal year, participants must be in
\nan eligible position for at least 60 days before the end of the plan year.
\nEmployees hired or promoted into an eligible position with less than 60 days in
\nthe plan year will join the annual bonus plan in the next fiscal year.<\/p>\n<\/td>\n<\/tr>\n

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

Exchange Rates:<\/p>\n<\/td>\n

<\/td>\n\n

The performance metrics targets will not be adjusted for any fluctuating
\ncurrency exchange rates.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

2<\/p>\n

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