VERITAS 2002 EXECUTIVE OFFICER COMPENSATION PLAN
- Name, Title
The 2002 Executive Officer Annual Compensation Plan shall consist of the
following components:
<TABLE>
<CAPTION>
COMPONENT AMOUNT PAID
--------- ------- ---------------
<S> <C> <C>
Base Salary $0,000 Regular payroll
EPS Bonus $0,000 Annually
Revenue Bonus $0,000 Annually
TOTAL $0,000
</TABLE>
BASE SALARY
The Base Salary will be paid on a semi-monthly basis.
EPS BONUS
Achieving the earnings per share specified in the approved operating plan shall
fund the EPS Bonus pool. The pool shall be funded in accordance with the
following plan:
<TABLE>
<CAPTION>
PERFORMANCE PAYOUT
----------- ------
<S> <C>
<90% 0
90% 75%
95% 90%
100% 100%
105% 115%
110% 150%
115% 200%
120% 250%
>120% 250%
</TABLE>
Any intermediate achievement between levels will earn a proportional amount of
bonus.
REVENUE GROWTH BONUS
Achieving the revenue growth specified in the approved operating plan shall fund
the Revenue Growth Bonus pool. The pool shall be funded in accordance with the
following plan:
<TABLE>
PERFORMANCE PAYOUT PERFORMANCE PAYOUT
----------- ------ ----------- ------
<S> <C> <C> <C>
<80% 0% 120% 145%
80% 50% 130% 160%
90% 75% 140% 175%
95% 90% 150% 190%
100% 100% 160% 205%
110% 115% 167% 250%
115% 130% >167% 250%
</TABLE>
Any intermediate achievement between levels will earn a proportional amount of
bonus.
PAYMENTS
Actual bonus payments will be determined by measurement of individual
performance. The CEO shall be responsible for setting recommendations and
presenting to the Compensation Committee for approval.
ELIGIBILITY
In order to be eligible to receive a bonus, the individual must be employed by
Veritas at the time of payment.
DISCRETION OF THE CEO AND BOARD OF DIRECTORS
Notwithstanding the above, the Company's CEO and/or board of directors, at
his/its sole discretion, may, for reasonable cause, modify or change this Plan
or its implementation at any time.
------------------------ -------- --------------------------- --------
VERITAS Date Mr./Ms. Date
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