March 21 Symantec Corp's sacked Chief
Executive Stephen Bennett may get as much as $18.5 million in
severance payment, based on his employment agreement.
Symantec fired Bennett on Thursday and appointed board
member Michael Brown as interim CEO. The company did not give
any reason for sacking Bennett.
Bennett is entitled to a severance payment if his services
were terminated without cause within 12 months, according to a
regulatory filing in August 2013.(r.reuters.com/myw77v)
His total compensation was $13 million for the fiscal year
ended March 2013.
Symantec's shares were down 14 percent at $17.98 on the
Nasdaq in late morning trading on Friday.
(Reporting by Supantha Mukherjee and Shailesh Kuber in
Bangalore; Editing by Kirti Pandey)