SEC Contract Filing

Filing Date: 2016-11-04

Document Content:
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<TYPE>EX-10.01
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<FILENAME>d244290dex1001.htm
<DESCRIPTION>EX-10.01
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<TITLE>EX-10.01</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Exhibit 10.01 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">June&nbsp;12, 2016 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Nicholas
Noviello </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Nicholas, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We are delighted to offer you
employment at Symantec Corporation (&#147;<B>Symantec</B>&#148;), effective upon the closing (the &#147;<B>Closing Date</B>&#148;) of Symantec&#146;s merger with your current employer Blue Coat, Inc. (&#147;<B>Target</B>&#148; and such merger, the
&#147;<B>Merger</B>&#148;). This employment offer (this &#147;<B>Agreement</B>&#148;) is contingent and effective on the closing of the Merger. If the Merger is not consummated for any reason or if the Merger Agreement by and among Symantec, Target
and the other parties thereto (the &#147;<B>Merger Agreement</B>&#148;) is terminated in accordance with its terms, this Agreement will immediately and automatically be withdrawn and be of no further force or effect. For purposes of this Agreement,
&#147;Symantec&#148; shall be deemed to include Symantec and its wholly and majority-owned direct and indirect subsidiaries, including the Target, after the closing of the Merger. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">You are joining a talented and passionate team driven to protect the world&#146;s information and the people who use it. We do work that matters and we are
confident you will find rewarding opportunities with us. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Start Date </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We anticipate that your first day of employment will be the Closing Date. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Position and Compensation </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">You will continue on your
current annual base salary of $650,000.00. You will continue to participate in Target&#146;s current bonus and commission arrangements until you can transition to Symantec&#146;s payroll, which is estimated to occur after the Closing Date, or such
later date as Symantec determines. Shortly following the Closing Date, we will work with the Target leadership team to align the businesses and determine the timing and changes to your position, reporting relationship and incentive opportunity under
Symantec&#146;s cash incentive and commission arrangements (if any); provided that your total Symantec cash compensation opportunity will be no less that your current total cash compensation opportunity at Target (the &#147;<B>Total Target Cash
Compensation Opportunity</B>&#148;). Until such time as any changes are made, you will continue in your current position and reporting relationship. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Equity Award </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">You will be granted an equity award (the
&#147;<B>New Equity Award</B>&#148;), consisting of Restricted Stock Units (RSUs) and Performance Stock Units (PSUs), by the Target prior to the Closing Date for a number of shares of the Target&#146;s common stock equal to $6,000,000.00 divided by
the Target&#146;s common stock per share stock price on the date of such grant as determined by Target. Those RSUs and/or PSUs will be converted to Symantec RSUs and PSUs at the Equity Exchange Ratio (as defined in the Merger Agreement) based on the
Target common stock value divided by the value of Symantec&#146;s stock determined, in all cases pursuant to the terms of the Merger Agreement. The RSU shall constitute thirty percent (30%)&nbsp;of the New Equity Award and shall vest over a three
(3)-year time-based vesting period commencing on the Closing Date with: thirty percent (30%)&nbsp;of such-time based portion vesting on the one (1)-year anniversary of the Closing Date, with thirty percent (30%)&nbsp;of such time-based portion
vesting on the two (2)-year anniversary of the Closing Date, and the remaining forty percent (40%)&nbsp;of such time- </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Symantec Corporation World Headquarters &#149; 350 Ellis Street Mountain View, CA 94043 United States &#149; Phone: +1 650-527-8000 </P>
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based portion vesting on the three (3)-year anniversary of the Closing Date. The PSU shall constitute seventy percent (70%) of the New Equity Award and shall vest based on non-GAAP operating
income margin, provided you are employed on March&nbsp;31, 2018. The terms of the New Equity Awards shall be substantially similar to the RSU and PSU grants made to senior Symantec executives in June of 2016. Detai