2003 Veritas Bonus Plan for Eligible Employees

Summary

This agreement outlines the 2003 Veritas Bonus Plan for designated employees in specific salary grades who are not already eligible for other bonus or commission plans. Eligible employees may receive a semi-annual bonus based on company profit performance and individual management assessment, provided they are active employees at the time of payment. The plan allows for pro-rated bonuses for new hires or promotions and gives the CEO and Board the authority to modify the plan at any time.

EX-10.78 6 f88588exv10w78.txt EXHIBIT 10.78 Exhibit 10.78 2003 VERITAS BONUS PLAN ELIGIBILITY: - - Designated VERITAS employees in salary grades E09-E12 and U01 not already eligible for commission, revenue, or other formal bonus plans. - - Employees who are hired by VERITAS or are promoted/reclassified into the eligible category defined above during any six month period, will be eligible for a pro-rated bonus provided their hire date or promotion date is no less than two months from the end of that period. - - To receive a bonus, eligible participants must be active employees of VERITAS on date of payment. - - Employees on LOA at time of payment will be eligible for payment after they return to work, prorated accordingly. PLAN OVERVIEW: - - Achieving proforma operating profit performance, as specified in the operating plan approved by the Board of Directors, shall fund the pool as follows:

Any intermediate achievement between levels will fund a proportional amount. PAYMENTS - - This is a semi-annual plan, with bonus calculation and payment following mid year (June 30th) and year-end (December 31st). - - Individual bonus recommendations are based upon management determination of participant performance, and as such will vary by employee. There are no guaranteed payments associated with this plan. - - Although every effort is made to process payments on a timely basis, there is no guaranteed payment date associated with this plan. Bonus payments can be processed only after the following is determined and/or communicated: - Proforma operating profit has been calculated. - Earnings, and all relevant performance measurements have been communicated externally. - Recommendations have been collected and submitted to the CEO for final approval. DISCRETION OF CEO AND BOARD OF DIRECTORS - - Notwithstanding the above, the Company's CEO and/or Compensation Committee of the Board of Directors, at his/its sole discretion, may, for reasonable cause, modify or change this Plan or its implementation at any time.