Symantec 2013 Annual Report Download - page 90

those in effect immediately prior to such sale, divestiture or spin-off; and (iii) the executive officer is not entitled
to severance under any other plan, fund, program, policy, arrangement or individualized written agreement pro-
viding for severance benefits that is sponsored or funded by Symantec.
Under the terms of the plan, the executive officer will receive severance payments equal to one times the
sum of his or her base salary in effect at the time of his or her involuntary termination. The executive officer will
also receive a one-time bonus of $15,000, minus taxes and other legally required deductions. The executive offi-
cer is also entitled to receive six months of outplacement services, including counseling and guidance. The
executive officer is solely responsible for all COBRA premiums for his or her continuation coverage.
Payment of severance payments, one-time bonus payment and outplacement services pursuant to the
Symantec Executive Severance Plan is subject to the applicable executive officer returning a release of claims
against Symantec.
Long Term Incentive Plan
Participants under our Long Term Incentive Plan will receive an accelerated payout of accrued LTIP payout
amounts if we experience a change in control of our company after completed performance periods but before the
applicable 3-year service requirement under the applicable LTIP is met. If a change in control of our company
occurs prior to the end of a performance period, then participants will receive an accelerated payout of the LTIP
amount at 100% of target. In addition, if the participant’s employment is terminated without cause following
completion of a performance period (assuming at least threshold performance of the operating cash flow metric
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.
Stephen M. Bennett
In accordance with an employment agreement dated August 21, 2012 between Mr. Bennett and Symantec,
in the event Mr. Bennett 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 1.5 times
his annual base salary and target bonus, reimbursement of COBRA premiums for up to eighteen months, accel-
eration of up to 225,000 unvested PCSUs, and acceleration of PRUs in accordance with the terms in his PRU
agreement.
In the event Mr. Bennett 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. Bennett’s termination date, then Mr. Bennett shall be enti-
tled to a severance payment equal to 2.0 times his annual base salary and target bonus then in effect; reimburse-
ment of COBRA premiums for up to twenty-four months; full acceleration of any unvested RSUs and PCSUs;
and partial acceleration of PRUs in accordance with the terms in his PRU agreement.
In the event that Mr. Bennett’s employment is terminated due to his death or disability, Mr. Bennett, his
spouse and/or his eligible dependents shall be entitled to reimbursement of COBRA premiums for up to eighteen
months; full acceleration of any unvested RSUs and PCSUs; and partial acceleration of PRUs in accordance with
the terms in his PRU agreement.
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