EX-10.02



 Exhibit 10.02 

 
 



 
 FY14 Executive Annual Incentive Plan 

Vice President, Senior Vice President and 
 Executive Vice President 
 This Executive Annual Incentive Plan (the “Plan”) of
Symantec Corporation (the “Company”) is effective as of March 30, 2013. The Board of Directors (the “Board”) of the Company reserves the right to alter or cancel all or any portion of the Plan for any reason at any time.


  
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 FY14 Executive Annual Incentive Plan 

 

			
	Job Category:	  	Vice President, Senior Vice President, Executive Vice President
		
	Purpose:	  	Provide critical focus on specific, measurable corporate and division goals and provide performance-based compensation based upon the level of attainment of such
goals.
		
	Bonus Target:	  	The target incentive bonus, as expressed as a percentage of base salary, is determined based on the executive’s position. Annual base salary has been established at the
beginning of the fiscal year. Bonuses will be calculated based on actual base salary earnings from time of eligibility under the Plan through March 28, 2014. (Base salary earnings for the purpose of this Plan do not include any PTO accrual
payments.) Payments will be subject to applicable payroll taxes and withholdings.
		
	Bonus Payments:	  	The annual incentive bonus will be paid once annually. Payment will be made within six weeks after the end of the fiscal year but in the event the amount cannot be calculated
within such six weeks in no event may payments be made later than two and a half months after the end of the fiscal year. Payments made pursuant to this Plan are at the sole discretion of the Administrator of the Plan.
		
	Bonus Pool Funding:	  	Two corporate performance metrics will be used to calculate the annual incentive bonus pool funding as determined by the Administrator: non-GAAP Operating Income and Corporate
GAAP Revenue. Pool funding is initially established by operating income performance against target, with revenue performance serving as a modifier to increase or decrease the bonus pool accordingly.
		
	Achievement Schedule:	  	An established threshold must be exceeded for each of the applicable performance metrics for the bonus pool to be funded. Funding levels will be determined for each metric in
accordance with the funding payout slopes established and approved by the Administrator. Funding levels under both metrics are capped.
		
		  	The individual payout amount will be determined based on the assessment of individual performance against a set of financial, non-financial, individual, and team-based goals and
will be allocated from the bonus pool as a percent of the individual’s bonus target.
		
		  	The Administrator and the President and Chief Executive Officer reserve the right to determine final payout level for the individual performance factor metric. However, only the
Administrator determines the final payout level for the individual performance factor metric for the executive officers.
		
	Pro-ration:	  	The calculation of the annual incentive bonus will be determined, in part, based on eligible base salary earnings for the fiscal year and, subject to the eligibility requirements
below, will be pro-rated based on the number of days the participant is actively employed as a regular status employee of the Company during the fiscal year. If a participant takes a leave of absence from the Company during the fiscal year, any
payments received by the participant as an income protection benefit will not be counted toward base salary earnings for the purpose of bonus calculations.
		
	Eligibility:	  	Participants must be regular status employees on the day bonus checks are distributed to earn the bonus. If the Company grants an interim payment for any reason, the Participant
must be a regular status employee at the end of the fiscal year in order to receive such payment. Ongoing contributions toward the Company’s overall success, particularly toward year end, is of particular business importance. As such, a
participant


  
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		  	who leaves before the end of the fiscal year will not be eligible to earn the annual incentive bonus or any pro-rated portion thereof. The Plan participant must be a regular
status employee of the Company at the end of the fiscal year in order to be eligible to receive the annual incentive bonus and at the time the bonus checks are distributed, unless otherwise determined by the Administrator.
		
		  	To be eligible to participate in the Plan in the given fiscal year, participants must be in an eligible position for at least 60 days before the end of the Plan year. Employees
hired or promoted into an eligible position with less than 60 days in the Plan year will not be eligible to participate in the annual bonus plan until the next fiscal year.
		
	Exchange Rates:	  	The performance metrics targets will not be adjusted for any fluctuating currency exchange rates. However, when calculating achievement of performance metrics, foreign exchange
movements are held constant at plan rates.
		
	Target Changes:	  	In the event of an accretive event, such as a stock buyback, or other events that might have an effect on the revenue or operating income targets of the Company, such as
acquisition or purchase of products or technology, the Administrator may at its discretion adjust the revenue and operating income metrics to reflect the potential impact upon the Company’s financial performance.
		
	Restatement of Financial Results:	  	If the Company’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, the
Company will seek reimbursement of excess incentive cash compensation paid under the Plan. For purposes of this Plan, excess incentive cash compensation means the positive difference, if any, between (i) the incentive bonus paid and (ii) the
incentive bonus that would have been made had the performance metrics been calculated based on the Company’s financial statements as restated. The Company will not be required to award Participant an additional Payment should the restated
financial statements result in a higher bonus calculation.
		
	Plan Provisions:	  	This Plan is adopted under the Symantec Senior Executive Incentive Plan, as amended and restated on September 22, 2008 and approved by the Company’s stockholders on
September 22, 2008 (the “SEIP”). All capitalized terms in this Plan shall have the meaning assigned to them in the SEIP.
		
		  	This Plan supersedes the FY13 Executive Annual Incentive Plan dated March 31, 2012, which is null and void as of the adoption of this Plan.
		
		  	Participation in the Plan does not guarantee participation in other or future incentive plans, nor does it guarantee continued employment for a specified term. Plan structures
and participation will be determined on a year-to-year basis.
		
		  	The Board reserves the right to alter or cancel all or any portion of the Plan for any reason at any time. The Plan shall be administered by the Compensation and Leadership
Development Committee of the Board (the “Administrator”), and the Administrator shall have all powers and discretion necessary or appropriate to administer and interpret the Plan.
		
		  	The Board reserves the right to exercise its own judgment with regard to company performance in light of events outside the control of management and/or
participant.


  
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