Symantec 2013 Annual Report Download - page 49

means by which to attract and retain top performing employees. Additional information about amounts paid
under the SEIP to our named executive officers during our last completed fiscal year are contained in the Sum-
mary Compensation Table (beginning on page 70) and the Grants of Plan-Based Awards Table (beginning on
page 75). Additional discussion about the SEIP is included in the Compensation Discussion & Analysis section
(beginning on page 56).
Participants
Individuals eligible for SEIP awards are employees who hold an executive officer position and are subject to
Section 16 of the Exchange Act and such other employees as our Compensation Committee may designate from
time to time. In selecting participants for the SEIP, the Compensation Committee will choose those senior execu-
tives whom the Compensation Committee believes are most likely to make significant contributions to
Symantec’s success. The actual number of employees who will receive awards under the SEIP cannot be
determined in advance because eligibility for participation is in the discretion of the Compensation Committee.
As of August 1, 2013, there are six employees who are executive officers subject to Section 16 of the Exchange
Act. Eight (8) Symantec executive officers participated in the SEIP during fiscal 2013. Although participation in
future years is in the discretion of the Compensation Committee, each executive officer has an interest in Pro-
posal No. 6. Information about fiscal year 2014 awards is presented below under “New Plan Benefits.”
Administration
The Compensation Committee administers the SEIP. Subject to the terms of the SEIP, the Compensation
Committee has the authority to interpret and determine all questions of policy and expediency pertaining to the
SEIP, has the discretion to determine the participants who will receive awards as well as the amounts, terms and
conditions of each award, including the performance period and goal(s) that apply to the award and whether or not
the goal(s) are achieved. The Compensation Committee may delegate its authority to administer awards to a sepa-
rate committee or to one or more individuals who are not members of the Compensation Committee, but only with
respect to participants whom it believes will not be considered “covered persons” under Section 162(m).
Maximum Bonus and Performance Goals
Bonus payments under the SEIP may be made in cash only. The payment to each participant is based on
performance period set by the Compensation Committee in writing and is directly related to the satisfaction of
applicable performance goal(s) set by the Compensation Committee for such performance period. A performance
goal is an objective formula or standard utilizing one or more of the following factors and any objectively verifi-
able adjustment(s) thereto permitted and pre-established by the Compensation Committee: (i) income, including
net income and operating income; (ii) stockholder return; (iii) earnings per share; (iv) revenue, including growth
in revenue; (v) market share; (vi) return on net assets program; (vii) return on equity; (vii) return on investment;
(ix) cash flow, including cash flow from operations; (x) new product releases; (xi) employee productivity and
satisfaction metrics; and (xii) strategic plan development and implementation (including individual performance
objectives that relate to achievement of Symantec’s or any business unit’s strategic plan). The Compensation
Committee may adjust its evaluation of actual performance under a performance goal to exclude certain events
that occur during a performance period such as asset write-downs; currency effects; litigation or claims judg-
ments or settlements; changes in tax law, accounting principles or other laws or regulations affecting reported
results; accruals for reorganization or restructuring programs; and other extraordinary non-recurring items
described in published accounting rules and/or in Management’s Discussion and Analysis of Financial Con-
ditions and Results of Operations in our annual report to stockholders for the year.
The bonus payable to a participant who is not a covered employee may also be based on other factors
(including subjective factors). The performance period(s) individual bonus target(s) and performance goal(s) will
be adopted by the Compensation Committee in its sole discretion with respect to each performance period and,
with respect to covered employees, must be adopted no later than the latest time permitted by the Code in order
for bonus payments pursuant to the SEIP to be deductible under Code Section 162(m).
The SEIP provides that the maximum amount of any bonus that can be paid to any participant during any
fiscal year is $5,000,000.
39