Symantec 2010 Annual Report Download - page 31

• Notwithstanding the foregoing, directors may sell enough shares to cover their income tax liability on vested
grants.
• All of our directors are in compliance with these guidelines.
Annual Fees: In accordance with the recommendation of the Compensation Committee, the Board deter-
mined the non-employee directors’ compensation for fiscal year 2010 as follows:
• $50,000 annual cash retainer
• $10,000 annual fee for committee membership ($15,000 for Audit Committee membership)
• $10,000 annual fee for chairing a committee of the Board ($20,000 for chairing the Audit Committee)
• $25,000 annual fee for the Lead Independent Director
In May 2010, the Board, in accordance with the recommendation of the Compensation Committee, approved
modifications to the annual retainers paid to non-employee directors. Effective May 4, 2010, non-employee
directors will receive the following retainers:
• $50,000 annual cash retainer
• $15,000 annual fee for committee membership ($20,000 for Audit Committee membership)
• $15,000 annual fee for chairing a committee of the Board ($25,000 for chairing the Audit Committee)
• $30,000 annual fee for the Lead Independent Director
The payment of the annual cash retainer is subject to the terms of the 2000 Director Equity Incentive Plan, as
amended, which allows directors to choose to receive common stock in lieu of cash for all or a portion of the retainer
payable to each director for serving as a member. We pay the annual retainer fee and any additional annual fees to
each director at the beginning of the fiscal year. Directors who join the Company after the beginning of the fiscal
year receive a prorated cash payment in respect of their annual retainer fee and fees. These payments are considered
earned when paid. Accordingly, we do not require them to be repaid in the event a director ceases serving in the
capacity for which he or she was compensated.
Annual Equity Awards. All grants to non-employee directors will be made on a discretionary basis under the
2004 Equity Incentive Plan. Pursuant to a Non-Employee Director Grant Policy adopted by our Board, each non-
employee member of the Board receives an annual award of fully-vested restricted stock awards having a fair
market value on the grant date equal to a pre-determined dollar value, which was $180,000 during fiscal 2010, with
this value prorated for new non-employee directors from the date of such director’s appointment to our Board to the
date of the first Board meeting in the following fiscal year. The restricted stock awards granted for fiscal year 2010
were granted on May 11, 2009 and are fully vested.
In May 2010, the Board amended the Non-Employee Director Grant Policy so that each non-employee
member of the Board will receive an annual award of fully-vested restricted stock units having a fair market value
on the grant date equal to $200,000. The restricted stock units granted for fiscal year 2011 were granted on May 4,
2010 and are fully vested.
Since the beginning of fiscal year 2007, we have not made option grants to our directors. Option grants made to
our non-employee directors in fiscal 2006 and prior years were subject to a four-year vesting schedule. In the event
of a merger or consolidation in which Symantec is not the surviving corporation or another similar change in control
transaction involving Symantec, all unvested stock option and restricted stock unit awards made to non-employee
directors under the programs described above will accelerate and vest in full.
Symantec stock ownership information for each of our directors is shown under the heading “Security
Ownership of Certain Beneficial Owners and Management” in this proxy statement.
THE BOARD RECOMMENDS A VOTE “FOR” ELECTION OF
EACH OF THE ELEVEN NOMINATED DIRECTORS.
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