Symantec 2009 Annual Report Download - page 55

Download and view the complete annual report

Please find page 55 of the 2009 Symantec annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 167

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167

James A. Beer
The following table summarizes the value of the payouts to Mr. Beer pursuant to the Symantec Executive
Retention Plan and the Symantec Corporation Severance Plan, assuming a qualifying termination as of April 3,
2009 (intrinsic values of equity awards are based upon the closing price for a share of our common stock of $16.23
on April 3, 2009 minus the exercise price):
Severance Pay COBRA Premiums Option Vesting RSU Vesting
Involuntary Termination Because of Market
Conditions or Division Performance
Termination Without Cause or
Constructive Termination
Within 12 Months of a
Change of Control
$180,231 $4,983 $0 $1,298,400
Enrique Salem
The following table summarizes the value of the payouts to Mr. Salem pursuant to the Symantec Executive
Retention Plan and the Symantec Corporation Severance Plan, assuming a qualifying termination as of April 3,
2009 (intrinsic values of equity awards are based upon the closing price for a share of our common stock of $16.23
on April 3, 2009 minus the exercise price):
Severance Pay COBRA Premiums Option Vesting RSU Vesting
Termination Without Cause or
Constructive Termination
Within 12 Months of a
Change of Control
Involuntary Termination Because of Market
Conditions or Division Performance
$263,702 $8,350 $0 $1,582,425
Gregory W. Hughes
Symantec entered into an employment agreement, dated December 15, 2004 with Mr. Hughes, which became
effective on July 2, 2005. Pursuant to that agreement, if the employment of Mr. Hughes is terminated by Symantec
without cause (as defined in Mr. Hughes’s agreement) or is terminated due to death or permanent disability, or if
Mr. Hughes resigns with good reason (i.e. material reduction in responsibilities, position or salary), then Mr. Hughes
is entitled to full payment of premiums for COBRA continuation health care coverage for the executive, his spouse
and his other eligible dependents under Symantec’s group health plan, until the earlier of (i) 12-months after the first
day of the first month after termination of employment or (ii) the first date that executive receives coverage under
another employer’s program providing substantially the same level of benefits without exclusion for pre-existing
medical conditions.
The following table summarizes the value of the payouts to Mr. Hughes pursuant to Mr. Hughes’ employment
agreement, the Symantec Executive Retention Plan, and the Symantec Corporation Severance Plan assuming a
qualifying termination as of April 3, 2009 (intrinsic values of equity awards are based upon the closing price for a
share of our common stock of $16.23 on April 3, 2009 minus the exercise price):
Severance Pay COBRA Premiums Option Vesting RSU Vesting
Involuntary Termination
Because of Market
Conditions or Division
Performance
Termination Without Cause or
Resignation With Good Reason, or
Termination Due to Death or Disability
Termination Without
Cause or Constructive
Termination within 12
Months of a Change
of Control
$182,308 $7,105 $0 $892,650
46