Document:

exv10w01

Exhibit
10.01

EXECUTIVE EMPLOYMENT AGREEMENT

     THIS EXECUTIVE EMPLOYMENT AGREEMENT (this “Agreement”), dated as of September 23, 2009, (the
“Effective Date”) is made and entered by and between Symantec Corporation, a Delaware corporation
(the “Company”), and Enrique T. Salem (the “Executive”).

WITNESSETH:

     WHEREAS, the Executive is currently employed as the Company’s President and Chief Executive
Officer and has made and is expected to continue to make major contributions to the short- and
long-term profitability, growth and financial strength of the Company;

     WHEREAS, the Company has determined that appropriate arrangements should be taken to encourage
the continued attention and dedication of the Executive to his assigned duties without distraction;
and

     WHEREAS, in consideration of the Executive’s employment with the Company, the Company desires
to provide the Executive with certain compensation and benefits as set forth in this Agreement in
order to ameliorate the financial and career impact on the Executive in the event the Executive’s
employment with the Company is terminated for a reason related to, or unrelated to, a Change in
Control (as defined below) of the Company.

     NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and agreements
hereinafter set forth and intending to be legally bound hereby, the Company and the Executive agree
as follows:

     1. Certain Defined Terms. In addition to terms defined elsewhere herein, the following
terms have the following meanings when used in this Agreement with initial capital letters:

          (a) “Annual Base Salary” means the Executive’s annual base salary rate, exclusive of bonuses,
commissions and other incentive pay, as in effect immediately preceding Executive’s Termination
Date.

          (b) “Board” means the Board of Directors of the Company.

          (c) “Cause” means:

          (i) an intentional tort (excluding any tort relating to a motor vehicle) which causes
loss, damage or injury to the property or reputation of the Company or its subsidiaries;

 

 

          (ii) any crime or act of fraud or dishonesty against the Company or its subsidiaries;

          (iii) the commission of a felony;

          (iv) habitual neglect of duties which is not cured within ten (10) days after notice
thereof by the Board to the Executive;

          (v) the disregard of written policies of the Company or its subsidiaries which causes
loss, damage or injury to the property or reputation of the Company or its subsidiaries
which is not cured within ten (10) days after notice thereof by the Board to the Executive;
or

          (vi) any material breach of the Executive’s ongoing obligation not to disclose
confidential information, and not to assign intellectual property developed during
employment.

          (d) “Change in Control” means:

          (i) any person or entity becoming the beneficial owner, directly or indirectly, of
securities of the Company representing forty (40%) percent of the total voting power of all
its then outstanding voting securities;

          (ii) a merger or consolidation of the Company in which its voting securities
immediately prior to the merger or consolidation do not represent, or are not converted
into securities that represent, a majority of the voting power of all voting securities of
the surviving entity immediately after the merger or consolidation;

          (iii) a sale of substantially all of the assets of the Company or a liquidation or
dissolution of the Company; or

          (iv) individuals who, as of the date of the signing of this Agreement, constitute the
Board of Directors (the “Incumbent Board”) cease for any reason to constitute at least a
majority of such Board; provided that any individual who becomes a director of the Company
subsequent to the date of the signing of this Agreement, whose election, or nomination for
election by the Company stockholders, was approved by the vote of at least a majority of
the directors then in office shall be deemed a member of the Incumbent Board.

          (e) “COBRA” means the Consolidated Omnibus Budget Reconciliation Act of 1986, as amended.

          (f) “Disability” means the (i) the Executive has been incapacitated by bodily injury, illness
or disease so as to be prevented thereby from engaging in the performance of the Executive’s
duties; (ii) such total incapacity shall have continued for a period of six (6) consecutive months;
and (iii) such incapacity will, in the opinion of a
qualified physician, be permanent and continuous during the remainder of the Executive’s life.

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          (g) “Good Reason Termination” means:

          (i) a material diminution in the Executive’s base compensation below the amount as
of the date of this Agreement or as increased during the course of his employment with
the Company, excluding any reduction generally applicable to all senior executives
provided, however, that such exclusion shall not apply if the material diminution in the
Executive’s base compensation occurs within (A) 60 days prior to the consummation of a
Change in Control where such Change in Control was under consideration at the time of
Executive’s Termination Date or (B) twelve (12) months after the date upon which such a
Change in Control occurs;

          (ii) a material diminution in the Executive’s authority, duties or responsibilities;

          (iii) a requirement that that the Executive report to a corporate officer or
employee of the Company instead of reporting directly to the Board;

          (iv) a material diminution in the budget over which the Executive retains authority;

          (v) a material change in the geographic location at which the Executive must perform
services; or

          (vi) any action or inaction that constitutes a material breach by the Company of the
agreement under which the Executive performs services;

     provided, however, that for the Executive to be able to terminate his employment with
the Company on account of Good Reason he must provide notice of the occurrence of the event
constituting Good Reason and his desire to terminate his employment with the Company on
account of such within ninety (90) days following the initial existence of the condition
constituting Good Reason, and the Company must have a period of thirty (30) days following
receipt of such notice to cure the condition. If the Company does not cure the event
constituting Good Reason within such thirty (30) day period, the Executive’s Termination
Date shall be the day immediately following the end of such thirty (30) day period, unless
the Company provides for an earlier Termination Date.

          (h) “Termination Date” means the last day of Executive’s employment with the Company.

          (i) “Termination of Employment” means the termination of Executive’s active employment
relationship with the Company.

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     2. Termination Unrelated to a Change in Control . 

          (a) Involuntary Termination Unrelated to a Change in Control. In the event of: (i) an
involuntary termination of Executive’s employment by the Company for any reason other than Cause,
death or Disability, or (ii) Executive’s resignation for Good Reason, and if Section 3 does not
apply, Executive shall be entitled to the benefits provided in subsection (b) of this Section 2.

          (b) Compensation Upon Termination Unrelated to a Change in Control. Subject to the
provisions of Section 5 hereof, in the event a termination described in subsection (a) of this
Section 2 occurs, the Company shall provide Executive with the following, provided that Executive
executes and does not revoke the Release (as defined in Section 5):

          (i) 3.375 times Annual Base Salary paid in a single lump sum cash payment on the
sixtieth (60th) day following Executive’s Termination Date.

          (ii) For a period of up to twelve (12) months following Executive’s Termination Date,
Executive and where applicable, Executive’s spouse and eligible dependents, will continue
to be eligible to receive medical coverage under the Company’s medical plans in accordance
with the terms of the applicable plan documents; provided, that in order to receive such
continued coverage at such rates, Executive will be required to pay the applicable premiums
to the plan provider, and the Company will reimburse the Executive, within 60 days
following the date such monthly premium payment is due, an amount equal to the monthly
COBRA premium payment, less applicable tax withholdings. Notwithstanding the foregoing, if
Executive obtains full-time employment during this twelve (12) month period, Executive must
notify the Company and no further reimbursements will be paid by the Company to the
Executive pursuant to this subsection. In addition, if Executive does not pay the
applicable monthly COBRA premium for a particular month at any time during the twelve(12)
month period, no further reimbursements will be paid by the Company to the Executive
pursuant to this subsection.

          (iii) With respect to any outstanding Company stock options held by the Executive as
of his Termination Date that are not vested and exercisable as of such date, the Company
shall accelerate that portion of the Executive’s stock options, if any, which would have
vested and become exercisable within the one year period after the Executive’s Termination
Date, such options (as well as any outstanding stock options that previously became vested
and exercisable) to remain exercisable, notwithstanding anything in any other agreement
governing such options, until the earlier of (A) a period of one year after the
Executive’s Termination Date, or (B) the original term of the option. Except as provided
in this Section 2(b)(iii) and in Section 3(b)(iii) below, any portion of Executive’s
outstanding stock options that are not vested and exercisable as of Executive’s Termination
Date shall terminate.

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          (iv) With respect to any restricted stock units representing shares of Company common
stock (“Restricted Stock Units”) held by the Executive that are unvested at the time of
his Termination Date, the number of unvested Restricted Stock Units that would have
vested within the one year period after the Executive’s Termination Date shall vest.
Except as provided in this Section 2(b)(iv) and in Section 3(b)(iv) below, any Restricted
Stock Units that are not vested as of Executive’s Termination Date shall terminate.

          (v) Executive shall receive any amounts earned, accrued or owing but not yet paid to
Executive as of his Termination Date, payable in a lump sum, and any benefits accrued or
earned in accordance with the terms of any applicable benefit plans and programs of the
Company.

     3. Termination Related to a Change in Control.

          (a) Involuntary Termination Relating to a Change in Control. In the event Executive’s
employment is terminated on account of (i) an involuntary termination by the Company for any reason
other than Cause, death or Disability, or (ii) the Executive voluntarily terminates employment with
the Company on account of a resignation for Good Reason, in either case that occurs (x) at the same
time as, or within the twelve (12) month period following, the consummation of a Change in Control
or (y) 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 Executive’s Termination Date, then Executive
shall be entitled to the benefits provided in subsection (b) of this Section 3.

          (b) Compensation Upon Involuntary Termination Relating to a Change in Control.
Subject to the provisions of Section 5 hereof, in the event a termination described in subsection
(a) of this Section 3 occurs, the Company shall provide that the following be paid to the Executive
after his Termination Date, provided that Executive executes and does not revoke the Release:

          (i) 4.5 times Annual Base Salary paid in a single lump sum cash payment on the
sixtieth (60th) day following Executive’s Termination Date. Notwithstanding the foregoing,
to the extent Executive is entitled to receive the severance benefit payable pursuant to
Section 2(b)(i) as a result of a qualifying termination prior to a Change in Control and
then becomes entitled to receive the severance benefit payable pursuant to this Section 3
as a result of the Change in Control that was considered at the time of Executive’s
Termination Date becoming consummated within sixty (60) days following Executive’s
Termination Date, Executive shall not receive the severance benefit payable pursuant to
Section 2(b)(i) of this Agreement, but instead shall receive the severance benefit payable
pursuant to this Section 3(b)(i) on the sixtieth (60th) day following Executive’s
Termination Date.

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          (ii) For a period of up to twelve (12) months following Executive’s Termination Date,
Executive and where applicable, Executive’s spouse and eligible dependents, will continue
to be eligible to receive medical coverage under the Company’s medical plans in accordance
with the terms of the applicable plan documents; provided, that in order to receive such
continued coverage at such rates, Executive will be required to pay the applicable premiums
to the plan provider, and the Company will reimburse the Executive, within sixty (60) days
following the date such monthly premium payment is due, an amount equal to the monthly
COBRA premium payment, less applicable tax withholdings. Notwithstanding the foregoing, if
Executive obtains full-time employment during this twelve (12) month period, Executive must
notify the Company and no further reimbursements will be paid by the Company to the
Executive pursuant to this subsection. In addition, if Executive does not pay the
applicable monthly COBRA premium for a particular month at any time during the twelve(12)
month period, no further reimbursements will be paid by the Company to the Executive
pursuant to this subsection. Notwithstanding the foregoing, to the extent Executive is
entitled to receive the severance benefit provided pursuant to Section 2(b)(ii) of the
Agreement as a result of a qualifying termination prior to a Change in Control, if
Executive becomes entitled to receive the severance benefits payable pursuant to this
Section 3 as a result of the Change in Control that was considered at the time of
Executive’s Termination Date becoming consummated within sixty (60) days following
Executive’s Termination Date, Executive shall be entitled to receive the severance benefit
provided pursuant to this clause (ii) and not the benefit provided pursuant to Section
2(b)(ii).

          (iii) With respect to any outstanding Company stock options held by the Executive as
of his Termination Date, the Company shall fully accelerate the vesting and exercisability
of such stock options, so that all such stock options shall be fully vested and exercisable
as of Executive’s Termination Date, such options (as well as any outstanding stock options
that previously became vested and exercisable) to remain exercisable, notwithstanding
anything in any other agreement governing such options, until the earlier of (A) a period
of one year after the Executive’s Termination Date, or (B) the original term of the option.
Notwithstanding the foregoing, to the extent Executive is entitled to receive the vesting
and exercisability acceleration provided pursuant to Section 2(b)(iii) of the Agreement as
a result of a qualifying termination prior to a Change in Control, if Executive becomes
entitled to receive the severance benefits payable pursuant to this Section 3 as a result
of the Change in Control that was considered at the time of Executive’s Termination Date
becoming consummated within sixty (60) days following Executive’s Termination Date, any
outstanding stock options that did not become vested and exercisable pursuant to Section
2(b)(iii) shall become vested and exercisable as of the date of the Change in Control;
provided, however, if a Change in Control does not occur within sixty (60) days following
Executive’s Termination Date, any stock options held by Executive that are not vested and
exercisable shall terminate as of the sixtieth (60th) day following Executive’s Termination Date or the end of the term, if earlier.

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          (iv) With respect to any Restricted Stock Units held by the Executive that are
unvested at the time of his Termination Date, all such unvested Restricted Stock Units
shall vest . Notwithstanding the foregoing, to the extent Executive is entitled to receive
the vesting acceleration provided pursuant to Section 2(b)(iv) of the Agreement as a result
of a qualifying termination prior to a Change in Control, if Executive becomes entitled to
receive the severance benefits payable pursuant to this Section 3 as a result of the Change
in Control that was considered at the time of Executive’s Termination Date becoming
consummated within sixty (60) days following Executive’s Termination Date, any outstanding
Restricted Stock Units that did not become vested pursuant to Section 2(b)(iv) shall become
vested as of the date of the Change in Control; provided, however, if a Change in Control
does not occur within sixty (60) days following Executive’s Termination Date, any
Restricted Stock Units held by Executive that are not vested shall terminate as of the
sixtieth (60th) day following Executive’s Termination Date.

          (v) Executive shall receive any amounts earned, accrued or owing but not yet paid to
Executive as of his Termination Date, payable in a lump sum, and any benefits accrued or
earned in accordance with the terms of any applicable benefit plans and programs of the
Company.

     (c) Consequence of a Change in Control. Notwithstanding the terms of the Symantec
2004 Executive Incentive Plan (the “2004 Plan”), if, as of the date of a Change in Control,
Executive holds stock options issued under the 2004 Plan that are not vested and exercisable, such
stock options shall become fully vested and exercisable as of the date of the Change in Control if
the acquirer does not agree to assume or substitute for equivalent stock options such outstanding
stock options.

     4. Termination of Employment on Account of Disability, Death, Cause or Voluntarily Without
Good Reason.

          (a) Termination on Account of Disability. Notwithstanding anything in this Agreement
to the contrary, if Executive’s employment terminates on account of Disability, Executive shall be
entitled to receive disability benefits under any disability program maintained by the Company that
covers Executive, and Executive shall not be considered to have terminated employment under this
Agreement and shall not receive benefits pursuant to Sections 2 and 3 hereof except for the
following:

          (i) For a period of up to twelve (12) months following Executive’s Termination Date,
Executive and where applicable, Executive’s spouse and eligible dependents, will continue
to be eligible to receive medical coverage under the Company’s medical plans in
accordance with the terms of the applicable plan documents; provided, that in order to
receive such continued coverage at such rates, Executive will be required to pay the
applicable

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premiums to the plan provider, and the Company will reimburse the Executive, within
60 days following the date such monthly premium payment is due, an amount equal to the
monthly COBRA premium payment, less applicable tax withholdings. Notwithstanding the
foregoing, if Executive obtains full-time employment during this twelve (12) month
period, Executive must notify the Company and no further reimbursements will be paid by
the Company to the Executive pursuant to this subsection. In addition, if Executive
does not pay the applicable monthly COBRA premium for a particular month at any time
during the twelve (12) month period, no further reimbursements will be paid by the
Company to the Executive pursuant to this subsection.

          (ii) With respect to any outstanding Company stock options held by the Executive as
of his Termination Date, such options to remain exercisable, notwithstanding anything in
any other agreement governing such options, until the earlier of (A) a period of one year
after the Executive’s Termination Date, or (B) the original term of the option.

          (b) Termination on Account of Death. Notwithstanding anything in this Agreement to
the contrary, if Executive’s employment terminates on account of death, Executive shall be entitled
to receive death benefits under any death benefit program maintained by the Company that covers
Executive, and Executive shall not be considered to have terminated employment under this Agreement
and shall not receive benefits pursuant to Sections 2 and 3 hereof except that with respect to any
outstanding Company stock options held by the Executive as of his Termination Date, such options to
remain exercisable, notwithstanding anything in any other agreement governing such options, until
the earlier of (A) a period of one year after the Executive’s Termination Date, or (B) the
original term of the option.

          (c) Termination on Account of Cause. Notwithstanding anything in this Agreement to
the contrary, if Executive’s employment terminates by the Company on account of Cause, Executive
shall not be considered to have terminated employment under this Agreement and shall not receive
benefits pursuant to Sections 2 and 3 hereof.

          (d) Termination on Account of Voluntary Resignation Without Good Reason.
Notwithstanding anything in this Agreement to the contrary, if Executive’s employment terminates on
account of a resignation by Executive for no reason or any reason other than on account of Good
Reason, Executive shall not be considered to have terminated employment under this Agreement and
shall not receive benefits pursuant to Sections 2 and 3 hereof.

     5. Release. Notwithstanding the foregoing, no payments under this Agreement shall be
made unless Executive executes, and does not revoke, the Company’s standard written release,
substantially in the form as attached hereto as Annex A, (the “Release”), of any and all claims
against the Company and all related parties with respect to all matters arising out of Executive’s
employment by the Company (other than entitlements under the terms of this Agreement or under any
other plans or programs of

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the Company in which Executive participated and under which Executive has accrued or become
entitled to a benefit) or a termination thereof.

     6. No Mitigation Obligation. Executive shall not be required to mitigate the amount
of any payment or benefit provided for in this Agreement by seeking other employment or otherwise,
nor shall the amount of any payment or benefit provided for herein be reduced by any compensation
earned by other employment or otherwise.

     7. Employment Rights. Nothing expressed or implied in this Agreement will create any
right or duty on the part of the Company or the Executive to have the Executive remain in the
employment of the Company or any subsidiary prior to or following any Change in Control.

     8. Tax Matters

     (a) Withholding of Taxes. The Company may withhold from any amounts payable under
this Agreement all federal, state, city or other taxes as the Company is required to withhold
pursuant to any applicable law, regulation or ruling.

     (b) Parachute Excise Tax. In the event that any amounts payable under this Agreement or
otherwise to Executive would (i) constitute “parachute payments” within the meaning of section 280G
of the Internal Revenue Code of 1986, as amended (the “Code”), or any comparable successor
provisions and (ii) but for this Subsection (b) would be subject to the excise tax imposed by
section 4999 of the Code or any comparable successor provisions (the “Excise Tax”), then such
amounts payable to Executive hereunder shall be either:

          (i) Provided to Executive in full; or

          (ii) Provided to Executive to the maximum extent that would result in
no portion of such benefits being subject to the Excise Tax;

whichever of the foregoing amounts, when taking into account applicable federal, state, local and
foreign income and employment taxes, the Excise Tax and any other applicable taxes, results in the
receipt by Executive, on an after-tax basis, of the greatest amount of benefits, notwithstanding
that all or some portion of such benefits may be taxable under the Excise Tax. Unless the Company
and Executive otherwise agree in writing, any determination required under this Subsection (b)
shall be made in writing in good faith by a nationally recognized accounting firm (the
“Accountants”). In the event of a reduction in benefits hereunder, the reduction of the total
payments shall apply as follows, unless otherwise agreed in writing and such agreement is in
compliance with section 409A of the Code: (i) first, any cash severance payments due under this
Agreement shall be reduced, with the last such payment due first forfeited and reduced, and
sequentially thereafter working from the next last payment, and (ii) second, any acceleration of vesting of any equity shall remain as originally scheduled to vest, with the tranche that would
vest last (without any such acceleration) first remaining as originally scheduled to vest. For
purposes of making the calculations required by this Subsection (b), the Accountants may make
reasonable assumptions and approximations concerning

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applicable taxes and may rely on reasonable, good-faith interpretations concerning the application
of the Code and other applicable legal authority. The Company and Executive shall furnish to the
Accountants such information and documents as the Accountants may reasonably request in order to
make a determination under this Subsection (b). The Company shall bear all costs that the
Accountants may reasonably incur in connection with any calculations contemplated by this
Subsection (b).

If, notwithstanding any reduction described in this Subsection (b), the Internal Revenue Service
(“IRS”) determines that Executive is liable for the Excise Tax as a result of the receipt of
amounts payable under this Agreement or otherwise as described above, then Executive shall be
obligated to pay back to the Company, within thirty (30) days after a final IRS determination or,
in the event that Executive challenges the final IRS determination, a final judicial determination,
a portion of such amounts equal to the Repayment Amount. The “Repayment Amount” with respect to the
payment of benefits shall be the smallest such amount, if any, that is required to be paid to the
Company so that Executive’s net after-tax proceeds with respect to any payment of benefits (after
taking into account the payment of the Excise Tax and all other applicable taxes imposed on such
payment) are maximized. The Repayment Amount with respect to the payment of benefits shall be zero
if a Repayment Amount of more than zero would not result in Executive’s net after-tax proceeds with
respect to the payment of such benefits being maximized. If the Excise Tax is not eliminated
pursuant to this paragraph, Executive shall pay the Excise Tax.

Notwithstanding any other provision of this Subsection (b), if (i) there is a reduction in the
payment of benefits as described in this Subsection (b), (ii) the IRS later determines that
Executive is liable for the Excise Tax, the payment of which would result in the maximization of
Executive’s net after-tax proceeds (calculated as if Executive’s benefits had not previously been
reduced), and (iii) Executive pays the Excise Tax, then the Company shall pay to Executive those
benefits which were reduced pursuant to this Subsection (b) as soon as administratively possible
after Executive pays the Excise Tax, so that Executive’s net after-tax proceeds with respect to the
payment of benefits are maximized.

     9. Term of Agreement. This Agreement shall continue in full force and effect until
the third anniversary of the Effective Date (the “Initial Term”), and shall automatically renew for
additional one (1) year renewal periods (a “Renewal Term”) if Executive is employed by the Company
on the last day of the Initial Term and on each Renewal Term; provided, however, that within the
sixty (60) to ninety (90) day period prior to the expiration of the Initial Term or any Renewal
Term, at its discretion, the Board, may propose, for consideration by Executive, such amendments to
the Agreement as it deems appropriate. If Executive’s employment with the Company terminates
during the Initial Term or a Renewal Term, this Agreement shall remain in effect until all of the
obligations of the parties hereunder are satisfied or have expired.

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     10. Successors and Binding Agreement.

          (a) The Company will require any successor (whether direct or indirect, by purchase, merger,
consolidation, reorganization or otherwise) to all or substantially all of the business or assets
of the Company, by agreement in form and substance reasonably satisfactory to the Executive,
expressly to assume and agree to perform this Agreement in the same manner and to the same extent
the Company would be required to perform if no such succession had taken place. This Agreement
will be binding upon and inure to the benefit of the Company and any successor to the Company,
including without limitation any persons acquiring directly or indirectly all or substantially all
of the business or assets of the Company whether by purchase, merger, consolidation, reorganization
or otherwise (and such successor will thereafter be deemed the “Company” for the purposes of this
Agreement), but will not otherwise be assignable, transferable or delegable by the Company.

          (b) This Agreement will inure to the benefit of and be enforceable by the Executive’s personal
or legal representatives, executors, administrators, successors, heirs, distributees and legatees.
This Agreement will supersede the provisions of any employment, severance or other agreement
between the Executive and the Company that relate to any matter that is also the subject of this
Agreement, and such provisions in such other agreements will be null and void.

          (c) This Agreement is personal in nature and neither of the parties hereto will, without the
consent of the other, assign, transfer or delegate this Agreement or any rights or obligations
hereunder except as expressly provided in Sections 10(a) and 10(b). Without limiting the
generality or effect of the foregoing, the Executive’s right to receive payments hereunder will not
be assignable, transferable or delegable, whether by pledge, creation of a security interest, or
otherwise, other than by a transfer by the Executive’s will or by the laws of descent and
distribution and, in the event of any attempted assignment or transfer contrary to this Section
10(c), the Company will have no liability to pay any amount so attempted to be assigned,
transferred or delegated.

     11. Notices. For all purposes of this Agreement, all communications, including
without limitation notices, consents, requests or approvals, required or permitted to be given
hereunder will be in writing and will be deemed to have been duly given when hand delivered or
dispatched by electronic facsimile transmission (with receipt thereof orally confirmed), or five
(5) business days after having been mailed by United States registered or certified mail, return
receipt requested, postage prepaid, or three business days after having been sent by a nationally
recognized overnight courier service such as FedEx or UPS, addressed to the Company (to the
attention of the Secretary of the Company) at its principal executive office and to the Executive
at his principal residence, or to such other address as any party may have furnished to the other
in writing and in accordance herewith, except that notices of changes of address will be effective
only upon receipt.

     12. Section 409A of the Code.

          (a) Interpretation. Notwithstanding the other provisions hereof, this Agreement is
intended to comply with the requirements of section 409A of the Code, to

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the extent applicable, and this Agreement shall be interpreted to avoid any penalty sanctions
under section 409A of the Code. Accordingly, all provisions herein, or incorporated by reference,
shall be construed and interpreted to comply with section 409A of the Code and, if necessary, any
such provision shall be deemed amended to comply with section 409A of the Code and regulations
thereunder. If any payment or benefit cannot be provided or made at the time specified herein
without incurring sanctions under section 409A of the Code, then such benefit or payment shall be
provided in full at the earliest time thereafter when such sanctions will not be imposed. Any
amount payable under this Agreement that constitutes deferred compensation subject to section 409A
of the Code shall be paid at the time provided under this Agreement or such other time as permitted
under section 409A of the Code. No interest will be payable with respect to any amount paid within
a time period permitted by, or delayed because of, section 409A of the Code. All payments to be
made upon a termination of employment under this Agreement that are deferred compensation may only
be made upon a “separation from service” under section 409A of the Code. For purposes of section
409A of the Code, each payment made under this Agreement shall be treated as a separate payment.
In no event may Executive, directly or indirectly, designate the calendar year of payment.

          (b) Payment Delay. To the maximum extent permitted under section 409A of the Code,
the severance benefits payable under this Agreement are intended to comply with the “short-term
deferral exception” under Treas. Reg. §1.409A-1(b)(4), and any remaining amount is intended to
comply with the “separation pay exception” under Treas. Reg. §1.409A-1(b)(9)(iii); provided,
however, any amount payable to Executive during the six (6) month period following Executive’s
Termination Date that does not qualify within either of the foregoing exceptions and constitutes
deferred compensation subject to the requirements of section 409A of the Code, then such amount
shall hereinafter be referred to as the “Excess Amount.” If at the time of Executive’s separation
from service, the Company’s (or any entity required to be aggregated with the Company under section
409A of the Code) stock is publicly-traded on an established securities market or otherwise and
Executive is a “specified employee” (as defined in section 409A of the Code and determined in the
sole discretion of the Company (or any successor thereto) in accordance with the Company’s (or any
successor thereto) “specified employee” determination policy), then the Company shall postpone the
commencement of the payment of the portion of the Excess Amount that is payable within the six (6)
month period following Executive’s Termination Date with the Company (or any successor thereto) for
six (6) months following Executive’s Termination Date with the Company (or any successor thereto).
The delayed Excess Amount shall be paid in a lump sum to Executive within ten (10) days following
the date that is six (6) months following Executive’s Termination Date with the Company (or any
successor thereto). If Executive dies during such six (6) month period and prior to the payment of
the portion of the Excess Amount that is required to be delayed on account of section 409A of the
Code, such Excess Amount shall be paid to the personal representative of Executive’s estate within
sixty (60) days after Executive’s death.

12

 

          (c) Reimbursements. All reimbursements provided under this Agreement shall be made or
provided in accordance with the requirements of section 409A of the Code, including, where
applicable, the requirement that (i) any reimbursement is for expenses incurred during Executive’s
lifetime (or during a shorter period of time specified in this Agreement), (ii) the amount of
expenses eligible for reimbursement during a calendar year may not affect the expenses eligible for
reimbursement in any other calendar year, (iii) the reimbursement of an eligible expense will be
made on or before the last day of the taxable year following the year in which the expense is
incurred, and (iv) the right to reimbursement is not subject to liquidation or exchange for another
benefit. Any tax gross up payments to be made hereunder shall be made not later than the end of
Executive’s taxable year next following Executive’s taxable year in which the related taxes are
remitted to the taxing authority.

     13. Governing Law. The validity, interpretation, construction and performance of this
Agreement will be governed by and construed in accordance with the substantive laws of the State of
California, without giving effect to the principles of conflict of laws of such State.

     14. Validity. If any provision of this Agreement or the application of any provision
hereof to any person or circumstances is held invalid, unenforceable or otherwise illegal, the
remainder of this Agreement and the application of such provision to any other person or
circumstances will not be affected, and the provision so held to be invalid, unenforceable or
otherwise illegal will be reformed to the extent (and only to the extent) necessary to make it
enforceable, valid or legal.

     15. Miscellaneous. No provision of this Agreement may be modified, waived or
discharged unless such waiver, modification or discharge is agreed to in writing signed by the
Executive and the Company. No waiver by either party hereto at any time of any breach by the other
party hereto or compliance with any condition or provision of this Agreement to be performed by
such other party will be deemed a waiver of similar or dissimilar provisions or conditions at the
same or at any prior or subsequent time. No agreements or representations, oral or otherwise,
expressed or implied with respect to the subject matter hereof have been made by either party that
are not set forth expressly in this Agreement. References to Sections are to references to
Sections of this Agreement. Any reference in this Agreement to a provision of a statute, rule or
regulation will also include any successor provision thereto.

     16. Survival. Notwithstanding any provision of this Agreement to the contrary, the
parties’ respective rights and obligations under Sections 2 and 3, will survive any termination or
expiration of this Agreement or the termination of the Executive’s employment for any reason
whatsoever

     17. Counterparts. This Agreement may be executed in one or more counterparts, each of
which will be deemed to be an original but all of which together will constitute one and the same
agreement.

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IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed
and delivered as of the date first above written.

	 	 	 
	SYMANTEC CORPORATION
	 
	 	 
	By:

	 	 /s/ Scott Taylor
	 

	 	 
	Name:

	 	Scott Taylor
	Title:

	 	EVP, General Counsel and Secretary
	 
	 	 
	EXECUTIVE
	 
	 	 
	 /s/ Enrique Salem
	 

14

 

Annex A

RELEASE OF CLAIMS

     This Release of Claims (“Agreement”) is made by and between Symantec Corporation (“Symantec”)
and                      .

     WHEREAS, you have agreed to enter into a release of claims in favor of Symantec upon certain
events specified in the Executive Employment Agreement by and between Symantec and you;

     NOW, THEREFORE, in consideration of the mutual promises made herein, Symantec and you agree as
follows:

1. Termination Date. This means the last day of your employment with Symantec.

2. Acknowledgement of Payment of Wages. You acknowledge that Symantec has paid you all accrued
wages, salary, bonuses, accrued but unused vacation pay and any similar payment due and owing.

3. Confidential Information. You hereby acknowledge that you are bound by all confidentiality
agreements that you entered into with Symantec and/or any and all past and current parent,
subsidiary, related, acquired and affiliated companies, predecessors and successors thereto (which
agreements are incorporated herein by this reference), that as a result of your employment you have
had access to the Confidential Information (as defined in such agreement(s)), that you will hold
all such Confidential Information in strictest confidence and that you may not make any use of such
Confidential Information on behalf of any third party. You further confirm that on or before the
Termination Date you will deliver to Symantec all documents and data of any nature containing or
pertaining to such Confidential Information and that you will not take with you any such documents
or data or any reproduction thereof.

4. Release and Waiver of All Claims. You waive any limitation on this release under California
Civil Code Section 1542 which provides that a general release does not extend to claims which a
person does not know or suspect to exist in his favor at the time of executing the release which,
if known, must have materially affected his/her decision to grant the release. In consideration of
the benefits provided in this Agreement, you release Symantec, and any and all past, current and
future parent, subsidiary, related and affiliated companies, predecessors and successors thereto,
as well as their officers, directors, shareholders, agents, employees, affiliates, representatives,
attorneys, insurers, successors and assigns, from any and all claims, liability, damages or causes
of action whatsoever, whether known or unknown, which exist or may in the future exist arising from
or relating to events, acts or omissions on or before the Effective Date of this Agreement, other
than those rights which as a matter of law cannot be waived.

You understand and acknowledge that this release includes, but is not limited to any claim for
reinstatement, re-employment, damages, attorney fees, stock options, bonuses or additional
compensation in any form, and any claim, including but not limited to those arising under tort,
contract and local, state or federal statute, including but not limited to Title VII of the Civil
Rights Act of 1964, the Civil Rights Act of 1991, the Post Civil War Civil Rights Act (42 U.S.C.
1981-88), the Equal Pay Act, the Age Discrimination in

15

 

Employment Act, the Americans with Disabilities Act, the Vietnam Era Veterans Readjustment
Assistance Act, the Fair Labor Standards Act, the Family Medical Leave Act of 1993, the Uniformed
Services Employment and Re-employment Rights Act, the Employee Retirement Income Security Act of
1974, and the civil rights, employment, and labor laws of any state and any regulation under such
authorities relating to your employment or association with Symantec or the termination of that
relationship.
You also acknowledge that you are waiving and releasing any rights you may have under the Age
Discrimination in Employment Act (ADEA) and that this waiver and release is knowing and voluntary.
You acknowledge that (1) you have been, and hereby are, advised in writing to consult with an
attorney prior to executing this Agreement; (2) as consideration for executing this Agreement, you
have received additional benefits and compensation of value to which you would otherwise not be
entitled, and (3) by signing this Agreement, you will not waive rights or claims under the Act
which may arise after the execution of this Agreement; and (4) you have twenty-one (21) calendar
days within which to consider this Agreement and in the event you sign the Agreement prior to
21days, you do so voluntarily. Once you have accepted the terms of this Agreement, you will have
an additional seven (7) calendar days in which to revoke such acceptance. To revoke, you must send
a written statement of revocation to the Vice President of Human Resources. If you revoke within
seven (7) days, you will receive no benefits under this Agreement. In the event you do not
exercise your right to revoke this Agreement, the Agreement shall become effective on the date
immediately following the seven-day (7) waiting period described above.

5. No Pending or Future Lawsuits. You represent that you have no lawsuits, claims, or actions
pending in your name or on behalf of any other person or entity, against Symantec or any other
person or entity referred to herein. You also represent that you do not intend to bring any claims
on your own behalf or on behalf of any other person or entity against Symantec or any other person
or entity referred to herein.

6. Non disparagement. You agree that you will not, whether orally or in writing, make any
disparaging statements or comments, either as fact or as opinion, about Symantec or its products
and services, business, technologies, market position, agents, representatives, directors,
officers, shareholders, attorneys, employees, vendors, affiliates, successors or assigns, or any
person acting by, through, under or in concert with any of them.

6b. Additional Terms

	A.	 	Legal and Equitable Remedies. You agree that Symantec shall have the right to enforce this
Agreement and any of its provisions by injunction, specific performance or other equitable
relief without prejudice to any other rights or remedies Symantec may have at law or in equity
for breach of this Agreement.
	 
	B.	 	Attorney’s Fees. If any action at law or in equity is brought to enforce the terms of this
Agreement, the prevailing party shall be entitled to recover from the other party its
reasonable attorneys’ fees, costs and expenses at trial or arbitration and any appeal
therefrom, in addition to any other relief to which such prevailing party may be entitled.

16

 

	C.	 	Non-Disclosure. You agree to keep the contents, terms and conditions of this Agreement
confidential; provided, however that you may disclose this Agreement with your spouse,
attorneys, and accountants, or pursuant to subpoena or court order. Any breach of this
non-disclosure paragraph is a material breach of this Agreement.
	 
	D.	 	No Admission of Liability. This Agreement is not, and the parties shall not represent or
construe this Agreement, as an admission or evidence of any wrongdoing or liability on the
part of Symantec, its officers, shareholders, directors, employees, subsidiaries, affiliates,
divisions, successors or assigns. Neither party shall attempt to admit this Agreement into
evidence for any purpose in any proceeding except in a proceeding to construe or enforce the
terms of this Agreement.
	 
	E.	 	Entire Agreement. This Agreement along with the Executive Employment Agreement, the
Intellectual Property and Confidentiality Agreement, and your written equity award agreements
with Symantec, constitutes the entire agreement between you and Symantec with respect to your
separation from Symantec and supersedes all prior negotiations and agreements, whether written
or oral, relating to its subject matter.
	 
	F.	 	Modification/Successors. This Agreement may not be altered, amended, modified, or otherwise
changed in any respect except by another written agreement that specifically refers to this
Agreement, and that is duly executed by you and an authorized representative of Symantec. This
Agreement shall be binding upon your heirs, executors, administrators and other legal
representatives and may be assigned and enforced by Symantec, its successors and assigns.
	 
	G.	 	Severability. The provisions of this Agreement are severable. If any provision of this
Agreement or its application is held invalid, the invalidity shall not affect other
obligations, provisions, or applications of this Agreement that can be given effect without
the invalid obligations, provisions, or applications.
	 
	H.	 	Waiver. The failure of either party to demand strict performance of any provision of this
Agreement shall not constitute a waiver of any provision, term, covenant, or condition of this
agreement or of the right to demand strict performance in the future.
	 
	I.	 	Governing Law and Jurisdiction. This Agreement shall be interpreted and enforced in
accordance with the laws of the State of California. The exclusive jurisdiction for any action
to interpret or enforce this Agreement shall be the State of California.
	 
	J.	 	Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed
an original, but all of which together shall constitute one and same instrument.
	 
	K.	 	Voluntary Execution of Agreement. This Agreement is executed voluntarily and without any
duress or undue influence on the part of the Parties hereto, with the full intent of releasing
all claims. You acknowledge that:

	 	a.	 	You have read this Agreement;
	 
	 	b.	 	You understand the terms and consequences of this Agreement and the releases
it contains;

17

 

	 	c.	 	You have been advised to consult with an attorney prior to executing this
Agreement
	 
	 	d.	 	You knowingly and voluntarily agree to all the terms in this Agreement and;
	 
	 	e.	 	You knowingly and voluntarily intend to be bound by this Agreement.

	 	 	 	 	 	 	 	 	 
	Sign:

	 	 	 	 	 	Dated:	 	 
	 

	 	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Symantec Corporation	 	 	 	 	 	 
	By

	 	 	 	 	 	Dated:	 	 
	 

	 	 
	 	 	 	 	 	 

18exv10w34

Exhibit 10.34

DIRECTOR COMPENSATION ARRANGEMENTS

     For the twelve month period ending June 30, 2010, each non-employee director of Cardiovascular
Systems, Inc. will receive the following compensation:

	 	•	 	$40,000 for service as a board member;
	 
	 	•	 	$20,000 for service as a chairman of a board committee;
	 
	 	•	 	$10,000 for service as a member of a board committee;
	 
	 	•	 	$1,200 per board or committee meeting attended in the event more than 12 of each such
meeting are held during the period; and
	 
	 	•	 	a restricted stock unit award with a value of $100,000, to be granted following
completion of the audit of the Company’s financial statements for the fiscal year ending
June 30, 2010, and payable in cash beginning six months after the termination of the
director’s board membership.

     In addition, the Chairman of the Board will receive an annual retainer of $40,000, which may,
at the election of the Chairman, be paid in shares of common stock based on the fair market value
of the Company’s common stock on the date of payment.

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