Symantec 2008 Annual Report Download - page 64

Change of Control and Severance Arrangements: The vesting of certain stock options and RSUs held by
our named executive officers will accelerate if they experience an involuntary (including constructive) termination
of employment under certain circumstances, as described further under “Potential Payments Upon Termination or
Change in Control,” beginning on page 60.
Retention and Other Awards
Certain business conditions may warrant using additional compensation approaches to attract, retain or
motivate executives. Such conditions include acquisitions and divestitures, attracting or retaining specific or unique
talent, and recognition for exceptional contributions. In these situations, the Committee considers the business
needs and the potential costs and benefits of special rewards. For example, the Committee approved promotional
grants of options and RSUs to Mr. Salem upon his January 2008 promotion to Chief Operating Officer, and
approved a sign-on bonus for Mr. Beer pursuant to his offer letter with Symantec in February 2006.
Other Benefits
All named executive officers are eligible to participate in our 401(k) plan (which includes our matching
contributions), health and dental coverage, life insurance, disability insurance, paid time off, and paid holidays on
the same terms as are available to all employees generally. These rewards are designed to be competitive with
overall market practices, and are in place to attract and retain the talent needed in the business. In addition, selected
officers may be eligible to participate in the deferred compensation plan, and to receive other benefits described
below.
Deferred Compensation: Symantec’s named executive officers are eligible to participate in a nonqualified
deferral plan. The deferral plan provides the opportunity to defer up to 75% of base salary and 100% of cash bonuses
for payment at a future date. This plan is provided to be competitive in the executive talent market, and to provide
executives with a tax-efficient alternative for receiving earnings. None of the named executive officers currently
participate in this plan.
Additional Benefits: Other benefits available to named executive officers are Company-paid life insurance,
reimbursement for up to $10,000 for financial planning services and an allowance for personal travel for the CEO on
Company aircraft. The Committee believes that these perquisites allow the named executive officers to focus more of
their time and attention on their employment, which benefits the Company, and that they are provided in the
marketplace for executive talent. The value of the perquisites we provide are taxable to the named executive officers
and the incremental cost to us for providing these perquisites is reflected in the Summary Compensation Table. (These
benefits are disclosed in the All Other Compensation column of the Summary Compensation Table on page 54).
Change in Control Agreements: Our Executive Retention Plan provides participants with accelerated
vesting of equity awards in the event the individual’s employment is terminated without cause, or is constructively
terminated, within 12 months of a change in control of the Company (as defined in the plan). The intent of the plan is
to enable named executive officers to have a balanced perspective in making overall business decisions in the
context of a potential acquisition of the Company, as well as to be competitive with market practices. The
Committee believes that change in control benefits, if structured appropriately, serve to minimize the distraction
caused by a potential transaction and reduce the risk that key talent would leave the Company before a transaction
closes. We do not provide for gross-ups of excise tax values under Section 4999 of the Internal Revenue Code.
Rather, we allow the named executive officer to reduce the benefit received or defer the accelerated vesting of
options to avoid excess payment penalties. Details of each individual named executive officer’s benefits, including
estimates of amounts payable in specified circumstances, are disclosed under “Potential Payments Upon Termi-
nation or Change in Control” beginning on page 60 below.
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