<PAGE>   1
                                                                   EXHIBIT 10.03


                       THIRD AMENDMENT AND RESTATEMENT OF
                CERTAIN OPERATIVE AGREEMENTS AND OTHER AGREEMENTS

                            Dated as of April 5, 2001

                                      among

                      VERITAS SOFTWARE GLOBAL CORPORATION,
                  as the Construction Agent and as the Lessee,

          THE VARIOUS PARTIES TO THE PARTICIPATION AGREEMENT AND OTHER
                     OPERATIVE AGREEMENTS FROM TIME TO TIME,
                               as the Guarantors,

                   FIRST SECURITY BANK, NATIONAL ASSOCIATION,
    not individually, except as expressly stated in the Operative Agreements,
           but solely as the Owner Trustee under the VS Trust 1999-1,

                THE VARIOUS BANKS AND OTHER LENDING INSTITUTIONS
           WHICH ARE PARTIES TO THE PARTICIPATION AGREEMENT AND OTHER
                     OPERATIVE AGREEMENTS FROM TIME TO TIME,
                                 as the Holders,

                THE VARIOUS BANKS AND OTHER LENDING INSTITUTIONS
           WHICH ARE PARTIES TO THE PARTICIPATION AGREEMENT AND OTHER
                     OPERATIVE AGREEMENTS FROM TIME TO TIME,
                                 as the Lenders,

                                       and

                             BANK OF AMERICA, N.A.,
                       as successor to NATIONSBANK, N.A.,
                      as the Agent for the Secured Parties

--------------------------------------------------------------------------------

                       BANK OF AMERICA, N.A. and KEY BANK,
                                   as Agents,

                                       and

              THE BANK OF NOVA SCOTIA, COMERICA BANK - CALIFORNIA,
   UNION BANK OF CALIFORNIA, N.A., and WELLS FARGO BANK, NATIONAL ASSOCIATION,
                                  as Co-Agents.

--------------------------------------------------------------------------------


<PAGE>   2


                       THIRD AMENDMENT AND RESTATEMENT OF
                CERTAIN OPERATIVE AGREEMENTS AND OTHER AGREEMENTS


        This THIRD AMENDMENT AND RESTATEMENT OF CERTAIN OPERATIVE AGREEMENTS AND
OTHER AGREEMENTS (this "Amendment") dated as of April 5, 2001, is by and among
VERITAS SOFTWARE GLOBAL CORPORATION, a Delaware corporation (the "Lessee" or the
"Construction Agent"); the various parties listed on the signature pages hereto
as guarantors (subject to the definition of Guarantors in Appendix A to the
Participation Agreement referenced below, individually a "Guarantor" and
collectively, the "Guarantors"); FIRST SECURITY BANK, NATIONAL ASSOCIATION, a
national banking association, not individually but solely as the Owner Trustee
under the VS Trust 1999-1 (the "Owner Trustee" or the "Lessor"); the various
banks and other lending institutions listed on the signature pages hereto
(subject to the definition of Lenders in Appendix A to the Participation
Agreement referenced below, individually, a "Lender" and collectively, the
"Lenders"); BANK OF AMERICA, N.A., a national banking association, which is the
successor to NationsBank, N.A., as the agent for the Lenders and respecting the
Security Documents, as the agent for the Lenders and the Holders, to the extent
of their interests (in such capacity, the "Agent"); and the various banks and
other lending institutions listed on the signature pages hereto as holders of
certificates issued with respect to the VS Trust 1999-1 (subject to the
definition of Holders in Appendix A to the Participation Agreement referenced
below, individually, a "Holder" and collectively, the "Holders"). Capitalized
terms used in this Amendment but not otherwise defined herein shall have the
meanings set forth in Appendix A to the Participation Agreement (hereinafter
defined).

                               W I T N E S S E T H

        WHEREAS, the parties to this Amendment are parties to that certain
Participation Agreement dated as of April 23, 1999 (the "Participation
Agreement"), certain of the parties to this Amendment are parties to that
certain Credit Agreement dated as of April 23, 1999 (the "Credit Agreement"),
certain of the parties to this Amendment are parties to that certain Trust
Agreement dated as of April 23, 1999 (the "Trust Agreement"), and certain of the
parties to this Amendment are parties to the other Operative Agreements relating
to a $139.4 million tax retention operating lease facility (the "Facility") that
has been established in favor of the Lessee;

        WHEREAS, the Lessee has requested certain modifications to the
Participation Agreement, the Credit Agreement, the Trust Agreement, the Security
Agreement, the Lease and the other Operative Agreements in connection with the
Lessee's request to increase the size of the Facility from $139,400,000 to
$147,802,000;

        WHEREAS, the Financing Parties have agreed to the requested
modifications on the terms and conditions set forth herein;

        NOW, THEREFORE, IN CONSIDERATION of the premises and other good and
valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties agree as follows:

<PAGE>   3

                             PARTICIPATION AGREEMENT

        1.     Appendix A to the Participation Agreement is hereby amended to
modify or add the following defined terms as follows:

        "Holder Commitments" shall mean $4,434,060, as such amount may be
increased or reduced from time to time in accordance with the provisions of the
Operative Agreements; provided, if there shall be more than one (1) Holder, the
Holder Commitment of each Holder shall be as set forth in Schedule I to the
Trust Agreement as such Schedule I may be amended and restated from time to
time.

        "Lender Commitments" shall mean $143,367,940, as such amount may be
increased or reduced from time to time in accordance with the provisions of the
Operative Agreements; provided, if there shall be more than one (1) Lender, the
Lender Commitment of each Lender shall be as set forth in Schedule 2.1 to the
Credit Agreement as such Schedule 2.1 may be amended and restated from time to
time.

        2.     Section 8.3(h) of the Participation Agreement is hereby amended
and restated to read as follows:

        (h)    The Lessee hereby covenants and agrees that as of Completion (i)
        the aggregate Property Cost shall not exceed $147,802,000 and (ii) each
        parcel of the Property shall be a Permitted Facility.

                                CREDIT AGREEMENT

        1.     Schedule 2.1 of the Credit Agreement is hereby deemed amended and
        restated in its entirety to read as Schedule 2.1 attached hereto as
        EXHIBIT 1.

                                 TRUST AGREEMENT

        1.     Schedule I of the Trust Agreement is hereby deemed amended and
restated in its entirety to read as Schedule I attached hereto as EXHIBIT 2.

                                  MISCELLANEOUS

        1.     This Amendment shall be effective upon satisfaction of the
following conditions:

               (a)    execution and delivery of this Amendment by the parties
        hereto and execution and delivery of such other documents, agreements or
        instruments reasonably deemed necessary or advisable by the Agent; and


                                       2
<PAGE>   4

               (b)    (i)    receipt by the Agent of an officer's certificate of
        the Lessee and the Construction Agent (in form and in substance
        reasonably satisfactory to the Agent) certifying that a resolution has
        been adopted by Lessee's Board of Directors approving and authorizing
        the execution, delivery, and performance of this Amendment, specifying
        that no Default or Event of Default shall have occurred and be
        continuing, specifying that the representations and warranties of Lessee
        set forth in the Participation Agreement are true and correct (except
        for any such representations and warranties which relate solely to an
        earlier time) and certifying as to the incumbency of the officer of
        Lessee executing this Amendment and (ii) receipt by the Agent of an
        officer's certificate of each Credit Party (other than the Lessee and
        the Construction Agent) certifying that the execution, delivery and
        performance of this Amendment has been duly approved and authorized by
        such Credit Party's Board of Directors, such officer's certificate to be
        in form and substance reasonably satisfactory to the Agent and
        certifying as to the incumbency of the officer of such Credit Party
        executing this Amendment;

               (c)    receipt by the Agent of legal opinions of counsel to the
        Credit Parties relating to this Amendment in form and substance
        reasonably satisfactory to the Agent; and

               (d)    receipt by the Agent, for the ratable benefit of each
        Lender and each Holder, of an amendment fee equal to the product of
        seventeen and one-half basis points (0.175%) multiplied by the sum of
        the aggregate Commitments of all Lenders and the aggregate Holder
        Commitments of all Holders after giving effect to this Amendment].

        2.     Except as modified hereby, all of the terms and provisions of the
Operative Agreements (including Schedules and Exhibits) shall remain unmodified
and in full force and effect.

        3.     The Lessee agrees to pay all reasonable costs and expenses of the
Agent in connection with the preparation, execution and delivery of this
Amendment, including without limitation the reasonable fees and expenses of
Moore & Van Allen, PLLC.

        4.     This Amendment may be executed in any number of counterparts,
each of which when so executed and delivered shall be deemed an original and it
shall not be necessary in making proof of this Amendment to produce or account
for more than one such counterpart.

        5.     This Amendment shall be deemed to be a contract made under, and
for all purposes shall be construed in accordance with the laws of the State of
New York.


         [The remainder of this page has been left blank intentionally.]


                                       3
<PAGE>   5

        IN WITNESS WHEREOF, each of the parties hereto has caused a counterpart
of this Amendment to be duly executed and delivered as of the date first above
written.


                                        VERITAS SOFTWARE GLOBAL CORPORATION,
                                        as the Construction Agent and as
                                        the Lessee


                                        By: /s/ KEVIN OLSON
                                           -------------------------------------

                                        Name:      Kevin Olson
                                             -----------------------------------

                                        Title:     Treasurer
                                              ----------------------------------


                                        VERITAS SOFTWARE CORPORATION,
                                        as a Guarantor


                                        By: /s/ KEVIN OLSON
                                           -------------------------------------

                                        Name:      Kevin Olson
                                             -----------------------------------

                                        Title:     Treasurer
                                              ----------------------------------


                                        VERITAS SOFTWARE TECHNOLOGY CORPORATION,
                                        as a Guarantor


                                        By: /s/ KEVIN OLSON
                                           -------------------------------------

                                        Name:      Kevin Olson
                                             -----------------------------------

                                        Title:     Treasurer
                                              ----------------------------------


                                        VERITAS SOFTWARE TECHNOLOGY HOLDING
                                        CORPORATION, as a Guarantor


                                        By: /s/ KEVIN OLSON
                                           -------------------------------------

                                        Name:      Kevin Olson
                                             -----------------------------------

                                        Title:     Treasurer
                                              ----------------------------------


                           [signature pages continue]


<PAGE>   6


                                        VERITAS OPERATING CORPORATION, as a
                                        Guarantor


                                        By: /s/ KEVIN OLSON
                                           -------------------------------------

                                        Name:      Kevin Olson
                                             -----------------------------------

                                        Title:     Treasurer
                                              ----------------------------------


<PAGE>   7



                                        FIRST SECURITY BANK, NATIONAL
                                        ASSOCIATION, not individually, except as
                                        expressly stated herein, but solely as
                                        the Owner Trustee under the VS Trust
                                        1999-1


                                        By:        /s/ NANCY M. DAHL
                                           -------------------------------------

                                        Name:      Nancy M. Dahl
                                             -----------------------------------

                                        Title:     Vice President
                                              ----------------------------------

<PAGE>   8


                                        BANK OF AMERICA, N.A. (which is the
                                        successor to NationsBank, N.A.), as a
                                        Holder, as a Lender and as the Agent


                                        By:        /s/ JOUNI KORHONEN
                                           -------------------------------------

                                        Name:      Jouni Korhonen
                                             -----------------------------------

                                        Title:     Managing Director
                                              ----------------------------------


<PAGE>   9


                                        COMERICA BANK - CALIFORNIA, as a Holder
                                        and as a Lender


                                        By:        /s/ GUY SIMPSON
                                           -------------------------------------

                                        Name:      Guy Simpson
                                             -----------------------------------

                                        Title:     Corporate Banking Officer
                                              ----------------------------------


                       Signed on behalf of Robert E. Ways


<PAGE>   10


                                        KEYBANK NATIONAL ASSOCIATION, as a
                                        Holder and as a Lender


                                        By:        /s/ JULIEN MICHAELS
                                           -------------------------------------

                                        Name:      Julien Michaels
                                             -----------------------------------

                                        Title:     Vice President
                                              ----------------------------------


<PAGE>   11


                                        FLEET NATIONAL BANK, as a Lender


                                        By:        /s/ WILLIAM S. ROWE
                                           -------------------------------------

                                        Name:      William S. Rowe
                                             -----------------------------------

                                        Title:     Vice President
                                              ----------------------------------


<PAGE>   12


                                        THE BANK OF NOVA SCOTIA, as a Lender


                                        By:        /s/ LIZ HANSON
                                           -------------------------------------

                                        Name:      Liz Hanson
                                             -----------------------------------

                                        Title:     Director
                                              ----------------------------------


<PAGE>   13


                                        THE FUJI BANK, LIMITED, as a Lender


                                        By:        /s/ MASAHITO FUKUDA
                                           -------------------------------------

                                        Name:      Masahito Fukuda
                                             -----------------------------------

                                        Title:     SVP and Group Head
                                              ----------------------------------


<PAGE>   14


                                        FBTC LEASING CORP., as a Lender


                                        By:        /s/ VICTOR MORA
                                           -------------------------------------

                                        Name:      Victor Mora
                                             -----------------------------------

                                        Title:     Vice President
                                              ----------------------------------


<PAGE>   15


                                        UNION BANK OF CALIFORNIA, N.A., as a
                                        Holder and as a Lender


                                        By:        /s/ JAMES B. GOUDY
                                           -------------------------------------

                                        Name:      James B. Goudy
                                             -----------------------------------

                                        Title:     Vice President
                                              ----------------------------------


<PAGE>   16


                                        WELLS FARGO BANK, NATIONAL ASSOCIATION,
                                        as a Holder and as a Lender


                                        By:        /s/ ERIC C. HOUSER
                                           -------------------------------------

                                        Name:      Eric C. Houser
                                             -----------------------------------

                                        Title:     Vice President
                                              ----------------------------------


<PAGE>   17


                                   THE INDUSTRIAL BANK OF JAPAN, LIMITED,
                                   as a Lender


                                   By:    /s/ MASAO NAKAGAWA
                                      ------------------------------------------

                                   Name:  Masao Nakagawa
                                        ----------------------------------------

                                   Title: Senior Vice President & Senior Manager
                                         ---------------------------------------


<PAGE>   18


                                        IBJTC LEASING CORPORATION-BSC, as a
                                        Holder


                                        By:        /s/ TOMOKO AOKI
                                           -------------------------------------

                                        Name:      Tomoko Aoki
                                             -----------------------------------

                                        Title:     Senior Vice President
                                              ----------------------------------


                              [signature pages end]


<PAGE>   19


                                    EXHIBIT 1

                                  Schedule 2.1


<TABLE>
<CAPTION>
                                                  Tranche A                          Tranche B
                                                  Commitment                         Commitment
                                                  ----------                         ----------
Name and Address of Lenders                   Amount/Percentage                  Amount/Percentage
---------------------------                   -----------------                  -----------------
<S>                                   <C>                <C>              <C>              <C>
Bank of America, N.A.                 $18,795,069.57     14.786492776%    $2,404,020.74    14.786494065%
555 California Street, 12th Floor
Mail Code: CA5-705-12-08
San Francisco, CA 94104-1502
Attention: Jouni Korhonen
Telephone: (415) 622-7293
Telecopy:  (415) 622-4057

Comerica Bank - California            $14,589,350.93     11.477761836%    $1,866,079.77    11.477761836%
800 Oak Grove Avenue
Menlo Park, CA 94025
Attention: Rob Ways
Telephone: (650) 462-6056
Telecopy:  (650) 462-6058

KeyBank National Association          $18,795,069.57     14.786492776%    $2,404,020.74    14.786494065%
Suite 2900
3 Embarcadero Center
San Francisco, CA 94111
Attention: Julien Michaels,
           Vice President
Telephone: (415) 733-2483
Telecopy:  (415) 733-2480

Fleet National Bank                   $10,340,390.14      8.135011344%    $1,322,608.42     8.135013695%
Information Technology Division
Mail Code: MA DE 10009H
100 Federal Street
MA DE 10009H
Boston, MA 02110
Attention: William Rowe
Telephone: (617) 434-6396
Telecopy:  (617) 434-0819
</TABLE>

<PAGE>   20


<TABLE>
<CAPTION>
                                                  Tranche A                          Tranche B
                                                  Commitment                         Commitment
                                                  ----------                         ----------
Name and Address of Lenders                   Amount/Percentage                  Amount/Percentage
---------------------------                   -----------------                  -----------------
<S>                                   <C>                <C>              <C>              <C>
The Bank of Nova Scotia               $15,040,569.02     11.832744987%    $1,923,792.53    11.832737707%
c/o Scotia Capital
Suite 2100
580 California Street
San Francisco, CA 94104
Attention: Liz Hanson, Director
           Tech & Electronics Group
Telephone: (415) 616-4153
Telecopy:  (415) 397-0791

The Fuji Bank, Limited                $10,340,390.14      8.135011344%         $-0-              0%
333 South Hope Street, 39th Floor
Los Angeles, CA 90071
Attention: Mano Mylvaganam,
           Vice President
Telephone: (213) 253-4130
Telecopy:  (213) 253-4175

FBTC Leasing Corp.                          $-0-               0%         $1,322,608.42     8.135013695%
2 World Trade Center
New York, NY 10048
Attention: Carl Marcantonio
Telephone: (212) 898-2439
Telecopy:  (212) 775-7276

Union Bank of California, N.A.        $14,589,350.93     11.477761836%    $1,866,079.77    11.477761836%
350 California Street, 10th Floor
San Francisco, CA 94104
Attention: James Goudy,
           Vice President
Telephone: (415) 705-7165
Telecopy:  (415) 705-7111

Wells Fargo Bank, National            $14,589,350.93     11.477761836%    $1,866,079.77    11.477761836%
Association
400 Hamilton Avenue
Palo Alto, CA 94301
Attention: Eric Houser,
           Vice President
Telephone: (650) 855-7684
Telecopy:  (650) 328-0814
</TABLE>

<PAGE>   21


<TABLE>
<CAPTION>
                                                  Tranche A                          Tranche B
                                                  Commitment                         Commitment
                                                  ----------                         ----------
Name and Address of Lenders                   Amount/Percentage                  Amount/Percentage
---------------------------                   -----------------                  -----------------
<S>                                   <C>                <C>              <C>              <C>
The Industrial Bank of Japan,         $10,030,178.77      7.890961263%    $1,282,929.84     7.890961263%
Limited
Suite 1600
One Market Plaza
San Francisco, CA 94105
Attention: Eric Maubert
Telephone: (415) 693-1805
Telecopy:  (415) 982-1917

TOTAL                                 $127,109,720            100%        $16,258,220           100%
</TABLE>


<PAGE>   22


                                    EXHIBIT 2

                                   SCHEDULE 1

                               HOLDER COMMITMENTS


<TABLE>
<CAPTION>
                                                               Holder Commitment
                                                               -----------------
                 Name of Holder                                Amount/Percentage
                 --------------                                -----------------
<S>                                                <C>                         <C>
Bank of America, N.A.                              $1,278,688.75               28.837876614%
555 California Street, 12th Floor
Mail Code: CA5-705-12-08
San Francisco, CA 94104-1502
Attention: Jouni Korhonen
Telephone: (415) 622-7293
Telecopy:  (415) 622-4057

KeyBank National Association                       $1,278,688.75               28.837876614%
Suite 2900
3 Embarcadero Center
San Francisco, CA 94111
Attention: Julien Michaels,
           Vice President
Telephone: (415) 733-2483
Telecopy:  (415) 733-2480

Comerica Bank - California                         $508,930.85                 11.477761836%
800 Oak Grove Avenue
Menlo Park, CA 94025
Attention: Rob Ways
Telephone: (650) 462-6056
Telecopy:  (650) 462-6058

Union Bank of California, N.A.                     $508,930.85                 11.477761836%
350 California Street, 10th Floor
San Francisco, CA 94104
Attention: James Goudy,
           Vice President
Telephone: (415) 705-7165
Telecopy:  (415) 705-7111
</TABLE>

<PAGE>   23

<TABLE>
<CAPTION>
                                                               Holder Commitment
                                                               -----------------
                 Name of Holder                                Amount/Percentage
                 --------------                                -----------------
<S>                                                <C>                         <C>
Wells Fargo Bank, National Association             $508,930.85                 11.477761836%
400 Hamilton Avenue
Palo Alto, CA 94301
Attention: Eric Houser,
           Vice President
Telephone: (650) 855-7684
Telecopy:  (650) 328-0814

IBJTC Leasing Corporation-BSC                      $349,889.96                  7.890961263%
1251 Avenue of the Americas
New York, NY 10020
Attention: Virginia Fino
Telephone: (212) 282-3588
Telecopy:  (212) 282-4492

TOTAL                                              $4,434,060              100%
</TABLE>