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EXHIBIT 99.1
SYMANTEC CORPORATION
2000 DIRECTORS EQUITY INCENTIVE PLAN
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SYMANTEC CORPORATION
2000 DIRECTORS EQUITY INCENTIVE PLAN
1. Purpose. The purpose of this Symantec Corporation 2000 Directors
Equity Incentive Plan (the "Plan") is to provide members of the Board of
Directors (the "Board") of Symantec Corporation (the "Company") with an
opportunity to receive Common Stock of the Company for all or a portion of the
retainer payable to each Director of the Company (the "Retainer").
2. Stock Issuance. Subject to the approval of this Plan by the
Stockholders of the Company, not less than 50% of the Retainer payable to each
Director of the Company, currently set at $25,000 per year, shall be payable in
the form of an award of unrestricted, fully-vested shares of Common Stock of the
Company (the "Stock").
3. Election by Directors. Each Director shall, at the first meeting of
the Board held after Stockholder approval of this Plan and thereafter at the
first meeting of the Board held in each fiscal year beginning with fiscal year
2002, elect to receive up to all of the Retainer payable to such Director in the
form of Stock. Each Director shall specify what portion, from 50% to 100%, of
the Retainer shall be paid to such Director in Stock; provided, that if no
election is made by a Director at such meeting, such Director shall be deemed to
have elected to receive 50% of the Retainer in Stock.
4. Amount of Stock. The number of shares of Stock to be issued each year
to each Director pursuant to this Plan shall be the portion of the Retainer for
such year which the Director has elected (or deemed to have elected) to be paid
in Stock, divided by the fair market value of the Common Stock of the Company on
the date such election is made (or deemed to have been made) by such Director.
5. Number of Shares. The total number of shares reserved for issuance
under the Plan shall be 25,000 shares of Common Stock.
6. Administration of Plan. This Plan shall be administered by the Board
of Directors of the Company or by a committee of at least two Board members to
which administration of the Plan is delegated by the Board (in either case, the
"Administrator"). The Administrator shall ratify and approve all awards of Stock
to the Directors pursuant to this Plan. All questions of interpretation,
implementation, and application of this Plan shall be determined by the
Administrator. Such determinations shall be final and binding on all persons.
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7. Amendment to the Plan. The Board may at any time amend, alter, suspend
or discontinue this Plan. No amendment, alteration, suspension or discontinuance
shall require shareholder approval unless such amendment would increase the
number of shares of Stock issuable under this Plan.
Approved by the Board of Directors of Symantec Corporation on July 20, 2000.
Approved by the Stockholders of Symantec Corporation on October 3, 2000.
