Symantec 2013 Annual Report Download - page 50

Payment of Awards
In order to earn and receive payment of an award under the SEIP, a participant must be an active employee
and on Symantec’s payroll on either (a) the last day of the fiscal year (or performance period) to which the award
relates or (b) the date of payment or vesting, in each case as specified in the documents governing the specific
award. The Compensation Committee may make exceptions to this requirement in the case of death or disability,
or in the case of a corporate change in control, although it may exercise this discretion only if permitted under the
requirements applicable to performance-based compensation under Section 162(m).
Recoupment
The SEIP provides that if Symantec’s financial statements are the subject of a restatement due to error or
misconduct, to the extent permitted by governing law, in all appropriate cases, Symantec will seek reimburse-
ment of excess incentive cash compensation paid under the SEIP to each Participant for each affected perform-
ance period. For purposes of the SEIP, excess incentive cash compensation means the positive difference, if any,
between (i) the award paid to a participant and (ii) the award that would have been made to the participant had
the applicable performance goal been calculated based on the financial statements as restated.
Term and Amendment of SEIP
The SEIP, as amended and restated, will become available for performance periods beginning in fiscal 2014.
The Board may amend or terminate the SEIP at any time and for any reason. In order to maintain the plan’s qual-
ification under Section 162(m), certain material amendments of the SEIP will require stockholder approval.
Further discussion of the SEIP is contained above under the heading “Compensation Discussion and Analy-
sis — II. Executive Annual Incentive Plan.”
New Plan Benefits
All awards to executive officers are based on actual performance during fiscal 2014 and are made at the
discretion of the Compensation Committee. Therefore, the benefits and amounts that will be received or allocated
under the SEIP are not determinable at this time. Cash incentive programs we currently operate under the SEIP
maintain the following performance goals: for the one-year performance period under our Annual Incentive Plan
that coincides with our fiscal year 2014, targeted non-GAAP operating income for fiscal 2014, as modified by
our company’s achievement of targeted revenue during fiscal 2014.
Target amounts for our continuing named executive officers under the Annual Incentive Plan for the per-
formance periods beginning on the start of our fiscal year 2014 are as follows:
Name:
Target Amount for Fiscal Year
2014 Cash Awards Under Annual
Incentive Plans ($)
Stephen M. Bennett .......................................... 1,500,000
James A. Beer .............................................. 700,000
Stephen E. Gillett ........................................... 1,093,750
Francis A. deSouza .......................................... 875,000
Scott C. Taylor ............................................. 273,000
Enrique Salem .............................................. —
William T. Robbins .......................................... —
Janice D. Chaffin ............................................ —
All current executive officers as a group (6 persons) ................ 4,645,750
All current non-employee directors as a group (7 persons) ........... —
All employees, excluding current executive officers* ............... 17,656,611
* Although we operate a similar bonus plan for employees who are not executive officers, such bonus awards
are not granted under the SEIP.
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