Symantec 2011 Annual Report Download - page 49

Executive Annual Incentive Plan Target Opportunities: Under the Executive Annual Incentive Plans for a
given fiscal year, each named executive officer has a target award opportunity, expressed as a percentage of base
salary, with the ability to earn above or below that target based on actual performance. Target award opportunities
for our Executive Annual Incentive Plans are established by the Compensation Committee using peer group and
survey data and taking into account other factors. The following table presents each named executive officer’s target
bonus opportunity actual and as a percentage of base salary for fiscal 2011 as compared to fiscal 2010:
FY11 Target
% of Base
FY10 Target
% of Base
FY11
($)
FY10
($)
Change
(%)
Enrique Salem . ................. 150 125 1,125,000 781,250 44.0
James A. Beer . ................. 90 80 630,000 528,000 19.3
Janice D. Chaffin ................ 90 80 450,000 360,000 25.0
William T. Robbins .............. 80 80 380,000 362,700 4.8
Rebecca Ranninger ............... 60 60 252,000 240,000 5.0
The award opportunities for fiscal 2011 were determined based on the relevant market composite, the desired
mix between cash and equity-based incentive pay, internal pay equity goals, and the role of the named executive
officer. Taking into account these factors, for fiscal 2011, the Compensation Committee increased the target award
opportunity as a percentage of base salary for Enrique Salem, James Beer and Janice Chaffin to be closer to the
median level of relevant market composite. In addition, Mr. Salem’s target award opportunity was increased to place
additional emphasis on performance-based variable pay relative to his total direct compensation.
At the time award opportunities are established, there is no assurance that the amount of the target awards will
be realized. Each named executive officer must achieve threshold performance for each metric established in the
named executive officer’s executive annual incentive plan to receive any payment for such metric. The payout under
the Executive Annual Incentive Plan is also capped at different levels based on the performance metric.
Executive Annual Incentive Plan Performance Measures and Target Setting: Executive Annual Incentive
Plan performance targets are established at or about the beginning of each plan year. Our management develops
proposed goals with reference to a variety of factors, including our historical performance, internal budgets, market
and peer performance, and external expectations for our performance. The Compensation Committee reviews,
adjusts as necessary, and approves the goals, the range of performance, and the weighting of the goals. Following the
end of each fiscal year, the Compensation Committee reviews our actual performance against the performance
measures established in the fiscal year’s Executive Annual Incentive Plans (after making any appropriate adjust-
ments to such measures for the effects of corporate events, that were not anticipated in establishing the performance
measures), determines the extent of achievement and approves annual cash incentives, if warranted. In determining
the achievement of performance goals for fiscal 2011, the Compensation Committee made adjustments to both the
revenue and Non-GAAP EPS targets for several acquisitions made during the year. The determination of awards for
the revenue and Non-GAAP EPS metrics is formulaic, while the business unit performance metric is determined
based on a qualitative evaluation of business unit performance against pre-established operational and strategic
goals. Although the Compensation Committee has the discretion to adjust awards as appropriate, it did not exercise
such discretion for fiscal 2011.
The performance measures and weightings under the Fiscal Year 2011 Executive Annual Incentive Plans for
the named executive officers were as follows:
Revenue
Non-GAAP
EPS
Business
Unit
Performance
CEO............................................ 50% 50% 0%
Other NEOs....................................... 50% 20% 30%
We used the above performance metrics because:
• Over time, revenue and Non-GAAP EPS measures have strongly correlated with stockholder value creation
for Symantec;
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