Symantec 2012 Annual Report Download - page 72

for such period has been achieved), the participant would receive a pro-rated payout of the accrued LTIP payout
amount based on the number of months of service provided by the participant within the 3-year period covered
by the applicable Long Term Incentive Plan. If a participant’s employment is terminated without cause prior to
the end of a performance period, then no payment would be made to the participant.
Enrique Salem
In accordance with an employment agreement dated September 23, 2009 between Mr. Salem and Symantec,
in the event Mr. Salem resigns for good reason (i.e., material reduction in responsibilities, position or salary) or is
terminated without cause (as defined in the agreement), he is entitled to a severance payment equal to 3.375
times his annual base salary, reimbursement of COBRA premiums for up to twelve months and the vesting of his
outstanding stock options and restricted stock units will be accelerated by one year.
In the event that Mr. Salem’s employment is terminated due to his death or disability, the vesting of his
outstanding options will remain exercisable, notwithstanding anything in any other agreement governing such
options, until the earlier of (a) a period of one year after the termination date and (b) the original term of the
option.
In the event Mr. Salem is terminated without cause, not due to death or permanent disability, nor resign for
good reason, that occurs during, or within the twelve (12) month period following, the consummation of a
Change in Control; or within the sixty (60) day period prior to the date of a Change in Control where the Change
in Control was under consideration at the time of Mr. Salem’s termination date, then Mr. Salem shall be entitled
to a severance payment equal to 4.5 times his annual base salary, reimbursement of COBRA premiums for up to
twelve months and full acceleration of any then-unvested stock options and restricted stock units.
The following table summarizes the value of the payouts to Mr. Salem pursuant to Mr. Salem’s employment
agreement, the Symantec Executive Retention Plan (as in effect at the end of fiscal 2012), assuming a qualifying
termination as of March 30, 2012 (intrinsic values of equity awards are based upon the closing price for a share
of our common stock of $18.70 on March 30, 2012 minus the exercise price):
Severance
Pay
COBRA
Premiums
Option
Vesting RSU Vesting PRU Vesting
Resignation with Good Reason or
Termination Without
Cause or Termination Due to Death or
Disability ....................... $2,704,200 $21,201 $1,500,698 $1,636,250 $ 906,950
Termination Without Cause or
Constructive Termination within 12
Months of a Change .............. $3,604,200 $21,201 $3,475,073 $3,038,750 $2,720,850
Change of Control
Termination Without Cause
Or Due to Death or Disability
Acceleration of LTIP Payout: ............................ $8,000,000 $5,566,667
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