Symantec 2009 Annual Report Download - page 44

named executive officers in fiscal 2009 as the overall composition and amount of other reward elements was judged
to be sufficient to provide a reasonable incentive and retention level.
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
deferred compensation plan, which provides U.S. employees (including our named executive officers) 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. Two of our named executive officers have participated in this plan. The plan is
described further under “Non-Qualified Deferred Compensation in Fiscal 2009,” beginning on page 43.
Additional Benefits: Other benefits available to named executive officers were Company-paid life insur-
ance, reimbursement for up to $10,000 for financial planning services and an allowance for personal travel for the
former CEO on Company aircraft. Symantec no longer retains access to a Company aircraft, so no such personal
travel will be provided to the named executive officers. The Compensation 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 39).
Change in Control Agreements: Our Executive Retention Plan provides participants with double trigger
acceleration of equity awards, where equity vesting is only accelerated 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). We believe that the double trigger acceleration provision appropriately achieves the intent
of the plan without providing an undue benefit to executives who continue to be employed following a change in
control transaction. 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 Compensation 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 Termination or Change in Control” beginning on page 44 below.
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