Symantec 2008 Annual Report Download - page 177

If the rights become exercisable, each right (other than rights held by the Acquiring Person) will entitle the
holder to purchase, at a price equal to the exercise price of the right, a number of shares of our common stock having
a then-current value of twice the exercise price of the right. If, after the rights become exercisable, we agree to
merge into another entity or we sell more than 50% of our assets, each right will entitle the holder to purchase, at a
price equal to the exercise price of the right, a number of shares of common stock of such entity having a then-
current value of twice the exercise price.
We may exchange the rights at a ratio of one share of common stock for each right (other than the Acquiring
Person) at any time after an Acquiring Person acquires 20% or more of our common stock but before such person
acquires 50% or more of our common stock. We may also redeem the rights at our option at a price of $0.001 per
right at any time before an Acquiring Person has acquired 20% or more of our common stock. The rights will expire
on August 12, 2008.
Note 15. Employee Benefits and Stock-Based Compensation
401(k) plan
We maintain a salary deferral 401(k) plan for all of our domestic employees. This plan allows employees to
contribute up to 50% of their pretax salary up to the maximum dollar limitation prescribed by the Internal Revenue
Code. We match 50% of the employee’s contribution. The maximum match in any given plan year is the lower of
3% of the employees’ eligible compensation or $6,000. Our contributions under the plan were $24 million,
$24 million, and $12 million, in fiscal 2008, 2007, and 2006, respectively.
Stock purchase plans
2002 Executive Officers’ Stock Purchase Plan
In September 2002, our stockholders approved the 2002 Executive Officers’ Stock Purchase Plan and reserved
250,000 shares of common stock for issuance thereunder, which was amended by our Board of Directors in January
2008. The purpose of the plan is to provide executive officers with a means to acquire an equity interest in Symantec
at fair market value by applying a portion or all of their respective bonus payments towards the purchase price. As of
March 28, 2008, 40,401 shares have been issued under the plan and 209,599 shares remain available for future
issuance. Shares reserved for issuance under this plan have not been adjusted for the stock dividends.
1998 Employee Stock Purchase Plan
In September 1998, our stockholders approved the 1998 Employee Stock Purchase Plan, or ESPP, and reserved
4 million shares of common stock for issuance thereunder. In September 1999, the ESPP was amended by our
stockholders to increase the shares available for issuance by 6 million and to add an “evergreen” provision whereby
the number of shares available for issuance increased automatically on January 1 of each year (beginning in
2000) by 1% of our outstanding shares of common stock on each immediately preceding December 31 during the
term of the ESPP. In July 2004, the Board of Directors eliminated this provision. As of March 28, 2008, 9.6 million
shares remain available for issuance under the ESPP.
Subject to certain limitations, our employees may elect to have 2% to 10% of their compensation withheld
through payroll deductions to purchase shares of common stock under the ESPP. Employees purchase shares of
common stock at a price per share equal to 85% of the fair market value on the purchase date at the end of each six-
month purchase period. For purchases prior to July 1, 2005, employees purchased shares at a price equal to the lesser
of 85% of the fair market value as of the beginning of the two-year offering period or the end of the six-month
purchase period. The Board of Directors eliminated the two-year offering period in March 2005, effective July 1,
2005. Under the ESPP, 5 million, 4 million, and 4 million shares were issued during fiscal 2008, 2007, and 2006,
respectively, representing $69 million, $65 million, and $59 million in contributions, respectively. As of March 28,
2008, a total of 29 million shares had been issued under this plan.
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SYMANTEC CORPORATION
Notes to Consolidated Financial Statements — (Continued)