Back to top

SYMANTEC EXECUTIVE RETENTION PLAN

Employee Retention Agreement

SYMANTEC EXECUTIVE RETENTION PLAN 

You are currently viewing:
This Employee Retention Agreement involves

SYMANTEC CORP

. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here.
Title: SYMANTEC EXECUTIVE RETENTION PLAN
Governing Law: California     Date: 2/4/2005
Industry: SOFTWR     Sector: TECHNO

Get insider access to legal agreements from top law firms.
50 of the Top 250 law firms use our Products every day
exv10w02
 

Exhibit 10.02

SYMANTEC EXECUTIVE RETENTION PLAN

This Executive Retention Plan (the “Plan”) applies to the Company’s Chief Executive Officer (“CEO”). President, and other executive officers who are designated as Section 16(b) officers, and such other individuals as may be designated by the Company’s Compensation Committee, based on recommendations made by the Company’s CEO, as evidenced in a written agreement with such individual (collectively, “Designated Executives”).

1.  Acceleration of Options.

If the employment of a Designated Executive is terminated other than for Cause (as defined below), or if the Designated Executive resigns following a Constructive Termination (as defined below), in either case within 12 months after a Change in Control (as defined below), all options granted by the Company to such Designated Executive shall become fully vested and exercisable. Acceleration will not occur if there is no Change in Control within 12 months prior to such termination or Constructive Termination.

2.  Definitions.

“Cause” means (i) gross negligence or willful misconduct in the performance of duties to Symantec (other than as a result of a disability) that has resulted or is likely to result in substantial and material damage to Symantec, after a demand for substantial performance is delivered by the Company which specifically identifies the manner in which it believes the Designated Executive has not substantially performed his/her duties and provides the Designated Executive with a reasonable opportunity to cure any alleged gross negligence or willful misconduct; (ii) commission of any act of f

This is only a partial view of this document. We have millions of legal documents and clauses drafted by top law firms. learn more search for free browse for free learn more