Refer the following document http://support.veritas.com/docs/329716
http://support.veritas.com/docs/273286 Which states the following
Shortcuts contain two important dates:
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The Sent Date of an archived item, which determines how old the item is
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The Archived Date of each item
Shortcut Deletion can be configured to use either of these dates as a basis to determine the age of the item, and when it should be removed from the mailbox. Set this option using the Enterprise Vault (EV) Administration Console on the
Storage Expiry page of
Site Properties
Modified date
When Expiry is set to modified date, a shortcuts age is determined from the date that the original email item was received.
Archived date
When Expiry is set to archived date, a shortcuts age is determined from the day that the email item was archived.
Hope the above information answers your query