Document:

exv10w32

Exhibit 10.32

3COM CORPORATION

STAND ALONE STOCK OPTION AGREEMENT

     3Com Corporation has granted Ronald A. Sege (the “Participant”), an Option to purchase certain
Shares in accordance with the Participant’s Employment Agreement dated April 29, 2008
(“Employment Agreement”), subject to the following terms and conditions as set forth in
this Award Agreement. The “Effective Date” of this Award Agreement shall be May 6, 2008.

     1. Definitions. As used herein, the following definitions shall apply:

          (a) “Administrator” means the Board or any of its Committees as shall be administering
the Award.

          (b) “Applicable Laws” means the requirements relating to the administration of stock
option plans under U.S. state corporate laws, U.S. federal and state securities laws, the Code, any
stock exchange or quotation system on which the Common Stock is listed or quoted and any other
applicable laws.

          (c) “Award” means, individually or collectively, the grant of an Option under the
Award Agreement.

          (d) “Award Agreement” means this stand alone stock option agreement between the
Company and the Participant evidencing the terms and conditions of this Award.

          (e) “Board” means the Board of Directors of 3Com Corporation.

          (f) “Cause” means:

               (i) The Participant’s willful and continued failure to perform the duties and responsibilities
of his position after there has been delivered to the Participant a written demand for performance
from the Board which describes in reasonable detail the basis for the Board’s belief that the
Participant has not substantially performed his duties and provides the Participant the opportunity
to present to the Board his good faith reasons for not so performing and, if the Board does not
agree with such reasons, with thirty (30) days to take corrective action;

               (ii) Any act of personal dishonesty taken by the Participant in connection with his
responsibilities as an employee of the Company with the intention or reasonable expectation that
such action may result in the substantial personal enrichment of the Participant;

               (iii) The Participant’s conviction of, or plea of nolo contendere to, a felony;

               (iv) A breach of any fiduciary duty owed to the Company by the Participant;

               (v) The Participant being found individually liable in any Securities and Exchange Commission
or other civil or criminal securities law action or entering any cease and desist order with
respect to such action (regardless of whether or not the Participant admits or denies liability);

               (vi) The Participant (A) obstructing or impeding; (B) endeavoring to influence, obstruct or
impede, or (C) failing to materially cooperate with, any investigation authorized by the Board or
any governmental or self-regulatory entity (an “Investigation”). However, the
Participant’s failure to waive attorney-client privilege relating to communications with the Participant’s own attorney in
connection with an Investigation will not constitute “Cause”; or

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               (vii) The Participant’s disqualification or bar by any U.S. governmental or self-regulatory
authority from serving in the capacity contemplated by the Employment Agreement or the
Participant’s loss of any U.S. governmental or self-regulatory license that is reasonably necessary
for the Participant to perform his responsibilities to the Company under the Employment Agreement,
if (A) the disqualification, bar or loss continues for more than thirty (30) days, and (B) during
that period the Company uses its good faith efforts to cause the disqualification or bar to be
lifted or the license replaced. While any disqualification, bar or loss continues during the
Participant’s employment, the Participant will serve in the capacity contemplated by the Employment
Agreement to whatever extent legally permissible and, if the Participant’s employment is not
permissible, the Participant will be placed on leave (which will be paid to the extent legally
permissible).

          (g) “Change in Control” means the occurrence of any of the following events:

                    (i) Any Person becoming the “beneficial owner” (as defined in Rule 13d-3 under the Exchange
Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more
of the total voting power represented by the Company’s then outstanding voting securities; or

                    (ii) The approval by the stockholders of the Company, or if stockholder approval is not
required, approval by the Board, of a plan of complete liquidation of the Company or an agreement
for the sale or disposition by the Company of all or substantially all of the Company’s assets; or

                    (iii) The consummation by the Company of a merger or consolidation of the Company with any
other corporation, other than a merger or consolidation which would result in the voting securities
of the Company outstanding immediately prior thereto continuing to represent (either by remaining
outstanding or by being converted into voting securities of the surviving entity) more than fifty
percent (50%) of the total voting power represented by the voting securities of the Company or such
surviving entity outstanding immediately after such merger or consolidation; or

                    (iv) A change in the composition of the Board within any twelve (12) month period during the
Term (as defined in the Employment Agreement) and pursuant to a plan in which the proponent
proposes alternative directors to the Board, as a result of which fewer than a majority are
Incumbent Directors. “Incumbent Directors” shall mean directors who either (A) are
directors of the Company as of the date of the Employment Agreement, or (B) are elected, or
nominated for election, to the Board with the affirmative votes of at least a majority of those
directors whose election or nomination was not in connection with any transactions described in
subsections (i), (ii), or (iii) of this Section 1(g) or in connection with an actual or threatened
proxy contest relating to the election of directors of the Company.

          (h) “Code” means the U.S. Internal Revenue Code of 1986, as amended.

          (i) “Committee” means a committee, which may consist of one or more persons whom may
or may not be Board members, as is consistent with the Applicable Laws, appointed by the Board.

          (j) “Common Stock” means the common stock of the Company.

          (k) “Company” shall mean 3Com Corporation and any successor corporation thereto.

          (l) “Consultant” means any person, including an advisor, engaged by the Company or a
Parent or Subsidiary as an independent contractor to render services to such entity.

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          (m) “Date of Option Grant” shall mean the “Date of Grant” as set forth in the Notice
of Grant.

          (n) “Director” means a member 3Com’s Board of Directors.

          (o) “Disability” means the Participant’s inability to substantially perform his duties
under the Employment Agreement as a result of incapacity by reason of any medically determinable
physical or mental impairment that can be expected to result in death or to last for a period of
twelve months.

          (p) “Employee” means any person, including Officers and Directors, employed by the
Company or any Parent or Subsidiary of the Company. A Service Provider shall not cease to be an
Employee in the case of (i) any leave of absence approved by the Company or any leave for which a
return to employment is guaranteed under Applicable Laws, or (ii) transfers between locations of
the Company or between the Company, its Parent, any Subsidiary, or any successor. Neither service
as a Director nor payment of a director’s fee by the Company shall be sufficient to constitute
“employment” by the Company.

          (q) “Exchange Act” means the Securities Exchange Act of 1934, as amended.

          (r) “Exercise Price” shall mean the “Option Price per Share” as set forth in the
Notice of Grant.

          (s) “Good Reason” means the occurrence of any of the following, without the
Participant’s express written consent; provided however, that Participant must provide the Company
notice of Good Reason within 30 days of the initial existence of one of the above conditions, upon
which notice Company shall then have 30 days in which to remedy the condition, under which
circumstances Company shall not be required to pay any amounts specified in Section 8 of the
Employment Agreement:

               (i) A material diminution in Participant’s authority, duties or responsibilities in effect
immediately prior to such reduction;

               (ii) A material diminution in Participant’s Base Salary or Target Annual Incentive (as such
terms are defined in the Employment Agreement) as in effect immediately prior to such reduction
other than pursuant to a reduction that also is applied to substantially all other executive
officers of the Company and which reduction reduces the Base Salary and/or annual cash incentive by
a percentage reduction that is no greater 15%;

               (iii) A material diminution in the kind or level of employee benefits to which Participant is
entitled immediately prior to such reduction with the result that Participant’s overall benefits
package is significantly reduced other than pursuant to a reduction that is also applied to
substantially all other executive officers of the Company that reduces the level of employee
benefits by a percentage reduction that is no greater that 15%;

               (iv) The relocation of Participant to a facility or location outside the United States;

               (v) The failure of the Company to obtain the assumption of the Employment Agreement by a
successor and an agreement that Participant will retain the same role and responsibilities in
the merged or surviving parent company as he had prior to the merger under Section 1 of the
Employment Agreement or, if more favorable, the same role and responsibilities that Participant had
immediately prior to the merger; or

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               (vi) The failure of the Company to appoint Participant as its Chief Executive Officer by April
30, 2011, or the appointment of another as Chief Executive Officer after the Effective Date (as
such term is defined in the Employment Agreement).

          (t) “In Connection with a Change of Control” means within three (3) months prior to or
twelve (12) months following a Change of Control.

          (u) “Initial Vesting Date” shall be the date occurring one (1) year after the Date of
Option Grant.

          (v) “Nonstatutory Stock Option” means any Option not intended to qualify as an
Incentive Stock Option within the meaning of Section 422 of the Code and the regulations
promulgated thereunder.

          (w) “Notice of Grant” shall mean the “NOTICE OF GRANT OF STOCK OPTION”. The Notice of
Grant is part of this Award Agreement.

          (x) “Number of Option Shares” shall mean the “Total Number of Option Shares Granted”
as set forth in the Notice of Grant.

          (y) “Intentionally left blank.

          (z) “Officer” means a person who is an officer of the Company within the meaning of
Section 16 of the Exchange Act and the rules and regulations promulgated thereunder.

          (aa) “Option” means this option to purchase Shares of Common Stock granted pursuant to
this Award Agreement.

          (bb) “Optioned Stock” means the Common Stock subject to the Option.

          (cc) “Option Termination Date” shall mean the date occurring seven (7) years after the
Date of Option Grant.

          (dd) “Parent” means a “parent corporation,” whether now or hereafter existing, as
defined in Section 424(e) of the Code.

          (ee) “Person” shall have the meaning ascribed to such term under Sections 13(d) and
14(d) of the Exchange Act.

          (ff) “Service Provider” means an Employee, Director or
Consultant.

          (gg) “Share” means a share of the Common Stock, as adjusted in accordance with Section
10 of the Agreement.

          (hh) “Subsidiary” means a “subsidiary corporation”, whether now or hereafter existing,
as defined in Section 424(f) of the Code and also include partnerships, limited liability companies
and other entities that are at least 30% owned by the Company.

          (ii) “Vested Ratio” means:

	 	 	 	 	 	 	 	 	 
	 	 	Vested Ratio	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	Prior to Initial Vesting Date

	 	 	0	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	On Initial Vesting Date, for each full year of the Participant’s remaining a Service
Provider from the Date of Option Grant until the Initial Vesting Date

	 	 	1/4	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Plus
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	For each subsequent full year thereafter of the Participant’s remaining a Service
Provider from the Initial Vesting Date

	 	 	1/4	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	In no event shall the Vested Ratio exceed 1/1.
	 	 	 	 	 	 	 	 

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     Notwithstanding the foregoing, in the event that Participant’s employment is terminated by the
Company without Cause or if Participant resigns for Good Reason, and such termination is not in
Connection with a Change of Control, then Participant will receive twelve (12) months accelerated
vesting with respect to Participant’s then outstanding unvested portion of the Award, provided that
Participant signs the separation agreement and release of claims as set forth in Section 8(d) of
the Employment Agreement and otherwise complies with such section.

     Notwithstanding the foregoing, in the event that Participant’s employment is terminated by the
Company without Cause or if Participant resigns for Good Reason, and such termination is in
Connection with a Change of Control, then Participant will become fully vested in Participant’s
then outstanding unvested portion of the Award, provided that Participant signs the separation
agreement and release of claims as set forth in Section 8(d) of the Employment Agreement and
otherwise complies with such section.

     Notwithstanding the foregoing, in the event that Participant resigns for Good Reason due to
(x) the failure of the Company to appoint Participant as Chief Executive Officer by April 30, 2011
or in the event of the appointment of another as Chief Executive Officer after April 29, 2010, the
vesting of Participant’s then outstanding unvested portion of the Award will be accelerated in full
or (y) the appointment of another as Chief Executive Officer prior to April 30, 2010, the vesting
of half of the outstanding unvested portion of the Award will be accelerated in full, provided in
each case that Participant signs the separation agreement and release of claims as set forth in
Section 8(d) of the Employment Agreement and otherwise complies with such section.

     2. Grant of Option. The Administrator hereby grants to the Participant the Option to
purchase the number of Shares set forth in the Notice of Grant, at the exercise price per Share set
forth in the Notice of Grant, subject to the provisions of this Award Agreement and the Notice of
Grant, which is incorporated herein by reference. The Option referenced herein are not intended to
qualify as Incentive Stock Options as defined in Section 422 of the Code and shall be treated as a
Nonstatutory Stock Option. The term of each Option shall be stated in the Notice of Grant and
shall be seven (7) years from the Date of Grant.

     3. Exercise of the Option.

          (a) Right to Exercise. The Option shall be exercisable during its terms in accordance
with the Notice of Grant and this Award Agreement and at such times and under such conditions as
determined by the Administrator. The Option shall first become exercisable on the Initial Vesting
Date. Each Option shall be exercisable on and after the Initial Vesting Date and prior to the
termination of the
Option in the amount equal to the Number of Option Shares multiplied by the Vested Ratio as
set forth in Section 1(ii) above less the number of Shares previously acquired upon exercise of the
Option. In no event shall an Option be exercisable for more Shares than the Number of Option
Shares. Exercising an Option in any manner approved hereunder shall decrease the number of Shares
thereafter available for sale under the Option by the number of Shares as to which the Option is
exercised.

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          (b) Method of Exercise. Each Option shall be exercisable by written or electronic
notice to the Company which shall state the election to exercise the Option, the number of Shares
being exercised, and such other representations and agreements as to the Participant’s investment
intent with respect to the Shares as may be required pursuant to the provisions of this Award
Agreement. Such notice shall be signed by the Participant or person entitled to exercise the
Option and shall be delivered to the Company’s Stock Administration Department, or other authorized
representative of the Company, prior to the termination of the Option as set forth in Section 5
below, accompanied by full payment of the option price for the number of Shares being purchased.

          (c) Form of Payment of Option Price. Subject to the Applicable Laws, such payment
shall be made (1) in cash, by check, or cash equivalent, (2) by tender of Shares of the Company’s
stock owned by the Participant and having a fair market value not less than the option price, which
(i) either have been owned by the Participant for more than six (6) months or were not acquired,
directly or indirectly from the Company, and (ii) have a fair market value not less than the option
price, (3) proceeds from a broker-assisted cashless exercise program acceptable to the Company, in
its sole discretion, or (4) by any combination of the foregoing.

          (d) Withholding. At the time the Option is exercised, in whole or in part, or at any
time thereafter as determined by the Company, the Company shall have the right to withhold the
applicable minimum withholding taxes, including but not limited to federal tax, state tax, foreign
taxes, or social taxes, if any, which arise in connection with the Option including, without
limitation, obligations arising upon (i) the exercise of the Option in whole or in part, (ii) the
transfer, in whole or in part, of any Shares acquired on exercise of the Option, or (iii) the
lapsing of any restriction with respect to any Shares acquired on exercise of the Option. The
Participant shall make adequate provision for the Company to meet its minimum withholding
obligations.

          (e) Certificate Registration. The Shares as to which an Option shall be exercised
shall be issued in the the name of the Participant, the heirs of the Participant (if applicable),
or, if requested in writing by the Participant, in the name of the Participant and his spouse. If
payment of the option price is accomplished using a broker-assisted cashless exercise program
acceptable to the Company, in its sole discretion, the certificate or certificates may, at the
Company’s sole discretion be registered in the name of a nominee who is an authorized broker for
the Company’s same-day sale program. Until the Shares are issued (as evidenced by the appropriate
entry on the books of the Company or of a duly authorized transfer agent of the Company), no right
to vote or receive dividends or any other rights as a stockholder shall exist with respect to the
Optioned Stock, notwithstanding the exercise of the Option. The Company shall issue (or cause to
be issued) such Shares promptly after the Option is exercised. No adjustment will be made for a
dividend or other right for which the record date is prior to the date the Shares are issued,
except as provided in Section 10 herein.

          (f) Restriction on Grant of Option and Issuance of Shares. The grant of the Option
and the issuance of Shares pursuant to the Option shall be subject to compliance with all
Applicable Laws. The Option may not be exercised if the issuance of Shares upon such exercise
would constitute a violation of any Applicable Laws. In addition, no Option may be exercised
unless (i) a registration statement under
the Securities Act of 1933, as amended, shall at the time of exercise of any Option be in
effect with respect to the Shares issuable upon exercise of the Option, or (ii) in the opinion of
legal counsel to the Company, the Shares issuable upon exercise of any Option may be issued in
accordance with the terms of an applicable exemption from the registration requirements of said
Act. As a condition to the exercise of any Option, the Company may require the Participant to
satisfy any qualifications that

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may be necessary or appropriate, to evidence compliance with any
Applicable Laws and to make any representation or warranty with respect thereto as may be requested
by the Company.

          (g) Fractional Shares. The Company shall not be required to issue fractional Shares
upon the exercise of the Option.

          (h) Survival of Award Agreement Provisions. To the extent contemplated herein, the
provisions of this Award Agreement shall survive any exercise of the Option and shall remain in
full force and effect.

     4. Non-Transferability of the Option. The Option may not be sold, pledged, assigned,
hypotencated, transferred or disposed of in any manner other than by will or by the laws of descent
or distribution and may be exercised, during the lifetime of the Participant, only by the
Participant. The terms of this Award Agreement shall be binding upon the executors,
administrators, heirs, successors and assignees of the Participant.

     5. Termination of the Option. The Option shall terminate and may no longer be
exercised on the first to occur of (i) the Option Termination Date as defined above, (ii) the last
date for exercising the Option following termination as a Service Provider as described herein, or
as otherwise set forth in this Award Agreement.

     6. Termination of the Participant’s Relationship as a Service Provider.

          (a) Termination of the Option. If the Participant ceases to be a Service Provider for
any reason except by reason of death or Disability, the Option, to the extent unexercised and
exercisable by the Participant on the date on which the Participant ceased to be a Service
Provider, may be exercised by the Participant within three (3) months after the date on which the
Participant’s relationship as a Service Provider terminates, but in any event no later than the
Option Termination Date. If the Participant’s Service Provider relationship is terminated because
of the death of the Participant or Disability of the Participant, the Option, to the extent
unexercised and exercisable by the Participant on the date on which the Participant ceased to be a
Service Provider, may be exercised by the Participant (or the Participant’s estate or legal
representative) at any time prior to the expiration of twelve (12) months from the date of such
termination, but in any event no later than the Option Termination Date. The Participant’s Service
Provider relationship shall be deemed to have terminated on account of death if the Participant
dies within three (3) months after the Participant’s termination of the Service Provider
relationship.

          (b) Disability of Optionee. If an Optionee ceases to be a Service Provider as a
result of the Optionee’s Disability, the Optionee may exercise his or her Option within such period
of time as is specified in the Option Agreement to the extent the Option is vested and exercisable
on the date of termination (but in no event later than the expiration of the term of such Option as
set forth in the Option Agreement). In the absence of a specified time in the Option Agreement,
the Option shall remain exercisable for twelve (12) months following the Optionee’s termination.
If, on the date of termination, the Optionee is not vested as to his or her entire Option, the
Shares covered by the unvested portion of the Option shall revert to the Plan. If, after
termination, the Optionee does not exercise his or her Option
within the time specified herein, the Option shall terminate, and the Shares covered by such Option
shall revert to the Plan.

          (c) Extension of Option Exercise Period. Notwithstanding the above, in the event that
the Participant’s employment is terminated by the Company without Cause or by the Participant for

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Good Reason (regardless of whether such termination is in Connection with a Change of Control), the
Option, to the extent unexercised and exercisable by the Participant on the date of the
Participant’s termination, may be exercised by the Participant until the earlier of (i) 165
calendar days after the Participant’s date of termination or (ii) the Option Termination Date,
provided that Participant signs the separation agreement and release of claims as set forth in
Section 8(d) of the Employment Agreement and otherwise complies with such section.

          (d) Change in Status. Notwithstanding the above, in the event of the Participant’s
change in status from Consultant, Employee or Director to Employee, Consultant or Director (e.g.,
an Employee becoming a Consultant), the Participant’s’s status as a Service Provider shall continue
notwithstanding the change in status.

          (e) Exercise Prevented by Applicable Laws. Except as provided in this Section 6, the
Option shall terminate and may not be exercised after the Participant’s Service Provider
relationship terminates unless the exercise of the Option in accordance with this Section 6 would
constitute a violation of any Applicable Laws. If the exercise of the Option is so prevented, the
Option shall remain exercisable until three (3) months after the date the Participant is notified
by the Company or its Parent or Subsidiary for whom the Participant provides service that the
Option is exercisable but in no event later than the Option Termination Date.

     7. Leaves of Absence. Unless the Administrator provides otherwise or as otherwise
required by Applicable Laws, the Option shall cease to vest on the 91st day of any
unpaid leave of absence and shall only recommence upon the Participant’s return to active service.

     8. Rights as a Shareholder or Employee. The Participant shall have no rights as a
stockholder with respect to any Shares until the date of the issuance of a certificate or
certificates for the Shares for which the Option has been exercised. No adjustment shall be made
for dividends or distributions or other rights for which the record date is prior to the date such
stock certificate or certificates are issued.

     9. No Guarantee of Continued Service. THE PARTICIPANT ACKNOWLEDGES AND AGREES THAT
THE VESTING OF SHARES PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS AN
EMPLOYEE OR OTHER SERVICE PROVIDER AT THE WILL OF THE COMPANY (NOT THROUGH THE ACT OF BEING HIRED,
BEING GRANTED THE OPTION OR ACQUIRING SHARES HEREUNDER). THE PARTICIPANT FURTHER ACKNOWLEDGES AND
AGREES THAT THIS AWARD AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE
SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS AN
EMPLOYEE OR OTHER SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND SHALL NOT
INTERFERE IN ANY WAY WITH THE PARTICIPANT’S RIGHT OR THE COMPANY’S RIGHT TO
TERMINATE THE PARTICIPANT’S RELATIONSHIP AS AN EMPLOYEE OR OTHER SERVICE PROVIDER OF THE
COMPANY AT ANY TIME, WITH OR WITHOUT CAUSE OR NOTICE.

     10. Adjustments Upon Changes in Capitalization, Dissolution, Liquidation or
Change of Control.

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          (a) Changes in Capitalization. Subject to any required action by the stockholders of
the Company, the number of shares of Common Stock covered by each outstanding Award, as well as the
price per share of Common Stock covered by each such outstanding Award, shall be proportionately
adjusted for any increase or decrease in the number of issued shares of Common Stock resulting from
a stock split, reverse stock split, stock dividend, combination or reclassification of the Common
Stock, or any other increase or decrease in the number of issued shares of Common Stock effected
without receipt of consideration by the Company; provided, however, that conversion of any
convertible securities of the Company shall not be deemed to have been “effected without receipt of
consideration.” Such adjustment shall be made by the Administrator, whose determination in that
respect shall be final, binding and conclusive. Except as expressly provided herein, no issuance
by the Company of shares of stock of any class, or securities convertible into shares of stock of
any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the
number or price of shares of Common Stock subject to an Award.

          (b) Dissolution or Liquidation. In the event of the proposed dissolution or
liquidation of the Company, the Administrator shall notify the Participant as soon as practicable
prior to the effective date of such proposed transaction. The Administrator in its discretion may
provide for the Participant to have the right to exercise his Award until ten (10) days prior to
such transaction as to all of the stock covered thereby, including Shares as to which the Award
would not otherwise be vested or exercisable. To the extent it has not been previously exercised,
an Award will terminate immediately prior to the consummation of such proposed action.

          (c) Change of Control. In the event of a Change of Control, each outstanding Option
shall be assumed or an equivalent option substituted by the successor corporation or a Parent or
subsidiary of the successor corporation. In the event that the successor corporation refuses to
assume or substitute for the Option, the Participant shall fully vest in and have the right to
exercise the Option as to all of the Optioned Stock, including Shares as to which it would not
otherwise be vested or exercisable. If the Option becomes fully vested and exercisable in lieu of
assumption or substitution in the event of a Change of Control, the Administrator shall notify the
Participant in writing or electronically that the Option shall be fully vested and exercisable for
a period of fifteen (15) days from the date of such notice, and the Option shall terminate upon the
expiration of such period. For the purposes of this paragraph, an Option shall be considered
assumed if, following the Change of Control, the Option confers the right to purchase or receive,
for each Share of Optioned Stock subject to the Option immediately prior to the Change of Control,
the consideration (whether stock, cash, or other securities or property) received in the Change of
Control by holders of Common Stock for each Share held on the effective date of the transaction
(and if holders were offered a choice of consideration, the type of consideration chosen by the
holders of a majority of the outstanding Shares); provided, however, that if such consideration
received in the Change of Control is not solely common stock of the successor corporation or its
Parent, the Administrator may, with the consent of the successor corporation, provide for the
consideration to be received upon the exercise of any Option, for each Share of Optioned Stock
subject to the Option, to be solely common stock of the successor corporation or its Parent equal
in fair market value to the per share consideration received by holders of Common Stock in the
Change of Control.

     11. Conditions Upon Issuance of Shares.

          (a) Legal Compliance. Shares shall not be issued pursuant to the exercise or vesting
of an Award unless the exercise or vesting of such Award and the issuance and delivery of such
Shares shall comply with Applicable Laws and shall be further subject to the approval of counsel
for the Company with respect to such compliance.

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          (b) Investment Representations. As a condition to the exercise of an Award, the
Company may require the Participant or any authorized person exercising such Award to represent and
warrant at the time of any such exercise that the Shares are being purchased only for investment
and without any present intention to sell or distribute such Shares if, in the opinion of counsel
for the Company, such a representation is required.

          (c) Inability to Obtain Authority. The inability of the Company to obtain authority
from any regulatory body having jurisdiction, which authority is deemed by the Company’s counsel to
be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Company of
any liability in respect of the failure to issue or sell such Shares as to which such requisite
authority shall not have been obtained.

     12. Legends. The Company may at any time place legends referencing any applicable
federal and/or state securities restrictions on all certificates representing shares of stock
subject to the provisions of this Award Agreement. The Participant shall, at the request of the
Company, promptly present to the Company any and all certificates representing Shares acquired
pursuant to the Option in the possession of the Participant in order to effectuate the provisions
of this Section 12.

     13. Binding Effect. This Award Agreement shall inure to the benefit of and be binding
upon the parties hereto and their respective heirs, executors, administrators, successors and
assigns.

     14. Amendment or Termination. The Administrator may at any time amend, alter, suspend
or terminate the Agreement; provided, however, that no such amendment, alteration, suspension or
termination may adversely affect the Option or any unexercised portion hereof without the written
consent of the Participant. Termination of the Agreement shall not affect the Administrator’s
ability to exercise the powers granted to it hereunder with respect to Awards granted under the
Agreement prior to the date of such termination.

     15. Entire Agreement; Applicable Law. This Award Agreement, along with the
Participant’s Employment Agreement, constitutes the entire agreement of the parties with respect to
the subject matter hereof and supersedes in their entirety all prior undertakings and agreements of
the Company and the Participant with respect to the subject matter hereof. To the extent that this
Award Agreement sets forth terms and conditions that are less beneficial to the Particpant than the
Employment Agreement, the terms of the Employment Agreement shall prevail.

     16. Notices. Any notice to be given to the Company hereunder shall be in writing and
shall be addressed to the Company at its then current principal executive office or to such other
address as the Company may hereafter designate to the Participant. Any notice to be given to the
Participant hereunder shall be addressed to the Participant at the last address known to the
Company, or at such other address as the Participant may hereafter designate to the Company. A
notice shall be deemed to have been duly given when personally delivered or mailed by registered or
certified mail to the party entitled to receive it.

10

 

	 	 	 	 	 
	PARTICIPANT

	 	3COM CORPORATION	 	 
	 
	 	 	 	 
	/s/ Ronald A. Sege

 

Ronald A. Sege

President and COO

	 	/s/ Neal D. Goldman

 

Neal D. Goldman

Executive Vice President and Chief Legal and 

Administrative Officer
	 	 
	 
	 	 	 	 
	5/16/08
 

Date

	 	 
 

Date
	 	 

11exv10w33

Exhibit 10.33

3COM CORPORATION

STAND ALONE RESTRICTED STOCK AGREEMENT

     3Com Corporation has granted Ronald A. Sege (the “Participant”), Restricted Stock shares in
accordance with the Participant’s Employment Agreement dated April 29, 2008 (“Employment
Agreement”), subject to the following terms and conditions as set forth in this Award
Agreement. The “Effective Date” of this Award Agreement shall be May 6, 2008.

     1. Definitions; Vesting and Reacquisition Rights. As used herein, the following
definitions shall apply:

          (a) “Administrator” means the Board or any of its Committees as shall be administering
the Award.

          (b) “Applicable Laws” means the requirements relating to the administration of
restricted stock plans under U.S. state corporate laws, U.S. federal and state securities laws, the
Code, any stock exchange or quotation system on which the Common Stock is listed or quoted and any
other applicable laws.

          (c) “Award” means, individually or collectively, the grant of Restricted Stock under
this Award Agreement and Notice of Grant of Restricted Stock.

          (d) “Award Agreement” means this Stand Alone Restricted Stock Agreement between the
Company and the Participant evidencing the terms and conditions of this Award.

          (e) “Board” means the Board of Directors of 3Com Corporation.

          (f) “Cause” means:

               (i) The Participant’s willful and continued failure to perform the duties and responsibilities
of his position after there has been delivered to the Participant a written demand for performance
from the Board which describes in reasonable detail the basis for the Board’s belief that the
Participant has not substantially performed his duties and provides the Participant the opportunity
to present to the Board his good faith reasons for not so performing and, if the Board does not
agree with such reasons, with thirty (30) days to take corrective action;

               (ii) Any act of personal dishonesty taken by the Participant in connection with his
responsibilities as an employee of the Company with the intention or reasonable expectation that
such action may result in the substantial personal enrichment of the Participant;

               (iii) The Participant’s conviction of, or plea of nolo contendere to, a felony;

               (iv) A breach of any fiduciary duty owed to the Company by the Participant;

               (v) The Participant being found individually liable in any Securities and Exchange Commission
or other civil or criminal securities law action or entering any cease and desist order with
respect to such action (regardless of whether or not the Participant admits or denies liability);

               (vi) The Participant (A) obstructing or impeding; (B) endeavoring to influence, obstruct or
impede, or (C) failing to materially cooperate with, any investigation authorized by the Board or
any governmental or self-regulatory entity (an “Investigation”). However, the
Participant’s

-1-

 

failure to waive attorney-client privilege relating to communications with the Participant’s own
attorney in connection with an Investigation will not constitute “Cause”; or

               (vii) The Participant’s disqualification or bar by any U.S. governmental or self-regulatory
authority from serving in the capacity contemplated by the Employment Agreement or the
Participant’s loss of any U.S. governmental or self-regulatory license that is reasonably necessary
for the Participant to perform his responsibilities to the Company under the Employment Agreement,
if (A) the disqualification, bar or loss continues for more than thirty (30) days, and (B) during
that period the Company uses its good faith efforts to cause the disqualification or bar to be
lifted or the license replaced. While any disqualification, bar or loss continues during the
Participant’s employment, the Participant will serve in the capacity contemplated by the Employment
Agreement to whatever extent legally permissible and, if the Participant’s employment is not
permissible, the Participant will be placed on leave (which will be paid to the extent legally
permissible).

          (g) “Change in Control” means the occurrence of any of the following events:

                    (i) Any Person becoming the “beneficial owner” (as defined in Rule 13d-3 under the Exchange
Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more
of the total voting power represented by the Company’s then outstanding voting securities; or

                    (ii) The approval by the stockholders of the Company, or if stockholder approval is not
required, approval by the Board, of a plan of complete liquidation of the Company or an agreement
for the sale or disposition by the Company of all or substantially all of the Company’s assets; or

                    (iii) The consummation by the Company of a merger or consolidation of the Company with any
other corporation, other than a merger or consolidation which would result in the voting securities
of the Company outstanding immediately prior thereto continuing to represent (either by remaining
outstanding or by being converted into voting securities of the surviving entity) more than fifty
percent (50%) of the total voting power represented by the voting securities of the Company or such
surviving entity outstanding immediately after such merger or consolidation; or

                    (iv) A change in the composition of the Board within any twelve (12) month period during the
Term (as defined in the Employment Agreement) and pursuant to a plan in which the proponent
proposes alternative directors to the Board, as a result of which fewer than a majority are
Incumbent Directors. “Incumbent Directors” shall mean directors who either (A) are
directors of the Company as of the date of the Employment Agreement, or (B) are elected, or
nominated for election, to the Board with the affirmative votes of at least a majority of those
directors whose election or nomination was not in connection with any transactions described in
subsections (i), (ii), or (iii) of this Section 1(g) or in connection with an actual or threatened
proxy contest relating to the election of directors of the Company.

          (h) “Code” means the U.S. Internal Revenue Code of 1986, as amended.

          (i) “Committee” means a committee, which may consist of one or more persons whom may
or may not be Board members, as is consistent with the Applicable Laws, appointed by the Board.

          (j) “Common Stock” means the common stock of the Company.

          (k) “Company” shall mean 3Com Corporation and any successor corporation thereto.

2

 

          (l) “Consultant” means any person, including an advisor, engaged by the Company or a
Parent or Subsidiary as an independent contractor to render services to such entity.

          (m) “Date of Restricted Stock Grant” shall mean the “Date of Grant” as set forth in
the Notice of Grant.

          (n) “Director” means a member 3Com’s Board of Directors.

          (o) “Disability” means the Participant’s inability to substantially perform his duties
under the Employment Agreement as a result of incapacity by reason of any medically determinable
physical or mental impairment that can be expected to result in death or to last for a period of
twelve months.

          (p) “Employee” means any person, including Officers and Directors, employed by the
Company or any Parent or Subsidiary of the Company. A Service Provider shall not cease to be an
Employee in the case of (i) any leave of absence approved by the Company or any leave for which a
return to employment is guaranteed under Applicable Laws, or (ii) transfers between locations of
the Company or between the Company, its Parent, any Subsidiary, or any successor. Neither service
as a Director nor payment of a director’s fee by the Company shall be sufficient to constitute
“employment” by the Company.

          (q) “Exchange Act” means the Securities Exchange Act of 1934, as amended.

          (r) “Good Reason” means the occurrence of any of the following, without the
Participant’s express written consent; provided however, that Participant must provide the Company
notice of Good Reason within 30 days of the initial existence of one of the above conditions, upon
which notice Company shall then have 30 days in which to remedy the condition, under which
circumstances Company shall not be required to pay any amounts specified in Section 8 of the
Employment Agreement:

               (i) A material diminution in Participant’s authority, duties or responsibilities in effect
immediately prior to such reduction;

               (ii) A material diminution in Participant’s Base Salary or Target Annual Incentive (as such
terms are defined in the Employment Agreement) as in effect immediately prior to such reduction
other than pursuant to a reduction that also is applied to substantially all other executive
officers of the Company and which reduction reduces the Base Salary and/or annual cash incentive by
a percentage reduction that is no greater 15%;

               (iii) A material diminution in the kind or level of employee benefits to which Participant is
entitled immediately prior to such reduction with the result that Participant’s overall benefits
package is significantly reduced other than pursuant to a reduction that is also applied to
substantially all other executive officers of the Company that reduces the level of employee
benefits by a percentage reduction that is no greater that 15%;

               (iv) The relocation of Participant to a facility or location outside the United States;

               (v) The failure of the Company to obtain the assumption of the Employment Agreement by a
successor and an agreement that Participant will retain the same role and responsibilities in the
merged or surviving parent company as he had prior to the merger under Section 1 of the Employment
Agreement or, if more favorable, the same role and responsibilities that Participant had
immediately prior to the merger; or

3

 

               (vi) The failure of the Company to appoint Participant as its Chief Executive Officer by April
30, 2011, or the appointment of another as Chief Executive Officer after the Effective Date (as
such term is defined in the Employment Agreement).

          (s) “In Connection with a Change of Control” means within three (3) months prior to or
twelve (12) months following a Change of Control.

          (t) “Initial Vesting Date” shall be the date occurring one (1) year after the Date of
Restricted Stock Grant.

          (u) “Notice of Grant” shall mean the “NOTICE OF GRANT OF RESTRICTED STOCK”. The
Notice of Grant is part of this Award Agreement.

          (v) “Number of Restricted Stock” shall mean the “Total Number of Restricted Stock
Granted” as set forth in the Notice of Grant.

          (w) Intentionally Omitted.

          (x) “Officer” means a person who is an officer of the Company within the meaning of
Section 16 of the Exchange Act and the rules and regulations promulgated thereunder.

          (y) “Parent” means a “parent corporation,” whether now or hereafter existing, as
defined in Section 424(e) of the Code.

          (z) “Restricted Stock” means shares of Common Stock or units/rights to acquire shares
of Common Stock granted pursuant to this Agreement that are subject to vesting, as adjusted in
accordance with this Agreement.

          (aa) “Service Provider” means an Employee, Director or Consultant.

          (bb) Intentionally omitted.

          (cc) “Subsidiary” means a “subsidiary corporation”, whether now or hereafter existing,
as defined in Section 424(f) of the Code and also include partnerships, limited liability companies
and other entities that are at least 30% owned by the Company.

          Vesting, Restrictions on Unvested Shares and Unvested Share Reacquisition
Right.

          Vesting. Subject to the terms and conditions of this Award Agreement, and provided
that the Participant remains a Service Provider through each vesting date, the Restricted Stock
shall become “Vested Shares” for purposes of this Award Agreement in three (3) equal,
annual installments, commencing on the Initial Vesting Date. Until the shares of Restricted Stock
vest and become Vested Shares, which unvested shares shall be called Unvested Shares (as defined
below), neither the Unvested Shares, nor any right with respect to the Unvested Shares of
Restricted Stock under this Agreement, may be sold, assigned, transferred, pledged, hypothecated
(by operation of law or otherwise) or otherwise conveyed or encumbered and shall not be subject to
execution, attachment or similar process. Any attempted sale, assignment, transfer, pledge,
hypothecation or other conveyance or encumbrance shall be void and unenforceable against the
Company or any affiliate of the Company. Upon becoming Vested Shares, such restrictions shall
lapse. A legend or legends may be affixed to share certificates representing the Restricted Stock
evidencing these restrictions.

          Notwithstanding the foregoing, in the event that Participant’s employment is terminated by the
Company without Cause or if Participant resigns for Good Reason, and such termination is not in
Connection with a Change of Control, then Participant will receive twelve (12) months accelerated vesting with respect to Participant’s then outstanding unvested portion of the Award, at which
time such

4

 

additionally vested shares shall become Vested Shares, provided that Participant signs
the separation agreement and release of claims as set forth in Section 8(d) of the Employment
Agreement and otherwise complies with such section.

     Notwithstanding the foregoing, in the event that Participant’s employment is terminated by the
Company without Cause or if Participant resigns for Good Reason, and such termination is in
Connection with a Change of Control, then Participant will become fully vested in Participant’s
then outstanding unvested portion of the Award, at which time such additionally vested shares shall
become Vested Shares, provided that Participant signs the separation agreement and release of
claims as set forth in Section 8(d) of the Employment Agreement and otherwise complies with such
section.

     Notwithstanding the foregoing, in the event that Participant resigns for Good Reason due to
(x) the failure of the Company to appoint Participant as Chief Executive Officer by April 30, 2011
or in the event of the appointment of another as Chief Executive Officer after April 29, 2010, the
vesting of Participant’s then outstanding unvested portion of the Award will be accelerated in
full, at which time such additionally vested shares shall become Vested Shares, or (y) the
appointment of another as Chief Executive Officer prior to April 30, 2010, the vesting of half of
the outstanding unvested portion of the Award will be accelerated in full, at which time such
additionally vested shares shall become Vested Shares, provided in each case that Participant signs
the separation agreement and release of claims as set forth in Section 8(d) of the Employment
Agreement and otherwise complies with such section.

          Unvested Share Reacquisition Right. In the event that the Participant’s Service
Provider relationship with the Company is terminated for any reason, with or without Cause, the
Company shall automatically reacquire all shares of Restricted Stock that are not Vested Shares as
of the termination date (the “Unvested Shares”) without any action on the part of
Participant, who shall forfeit such shares immediately, and the Participant shall not be entitled
to any payment therefor (the “Unvested Share Reacquisition Right”).

     2. Leaves of Absence. Unless the Administrator provides otherwise or as otherwise
required by Applicable Laws, the Restricted Stock shall cease to vest on the 91st day of
any unpaid leave of absence and shall only recommence upon the Participant’s return to active
service.

     3. Rights as a Shareholder or Employee. The Participant shall have no rights as a
stockholder with respect to the shares of Restricted Stock until such time as the shares are issued
to the Participant in the form of a certificate or certificates or other appropriate means of
distributing the Vested Shares, at the Company’s discretion. Except as provided in this Agreement,
no adjustment shall be made for dividends or distributions or other rights for which the record
date is prior to the date such shares are issued.

     4. No Guarantee of Continued Service. THE PARTICIPANT ACKNOWLEDGES AND AGREES THAT
THE VESTING OF SHARES PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS AN
EMPLOYEE OR OTHER SERVICE PROVIDER AT THE WILL OF THE COMPANY (NOT THROUGH THE ACT OF BEING HIRED,
BEING GRANTED THE RESTRICTED STOCK OR ACQUIRING SHARES HEREUNDER). THE PARTICIPANT FURTHER
ACKNOWLEDGES AND AGREES THAT THIS AWARD AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE
VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED
ENGAGEMENT AS AN EMPLOYEE OR OTHER SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT
ALL, AND SHALL NOT INTERFERE IN ANY WAY WITH THE PARTICIPANT’S RIGHT OR THE COMPANY’S RIGHT TO
TERMINATE THE PARTICIPANT’S RELATIONSHIP AS AN EMPLOYEE OR OTHER SERVICE PROVIDER OF THE COMPANY AT ANY
TIME, WITH OR WITHOUT CAUSE OR NOTICE.

5

 

     5. Adjustments Upon Changes in Capitalization, Dissolution, Liquidation or
Change of Control.

          (a) Changes in Capitalization. Subject to any required action by the stockholders of
the Company, the number of shares of Common Stock covered by each outstanding Award, as well as the
price per share of Common Stock covered by each such outstanding Award, shall be proportionately
adjusted for any increase or decrease in the number of issued shares of Common Stock resulting from
a stock split, reverse stock split, stock dividend, combination or reclassification of the Common
Stock, or any other increase or decrease in the number of issued shares of Common Stock effected
without receipt of consideration by the Company; provided, however, that conversion of any
convertible securities of the Company shall not be deemed to have been “effected without receipt of
consideration.” Such adjustment shall be made by the Administrator, whose determination in that
respect shall be final, binding and conclusive. Except as expressly provided herein, no issuance
by the Company of shares of stock of any class, or securities convertible into shares of stock of
any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the
number or price of shares of Common Stock subject to an Award.

          (b) Dissolution or Liquidation. In the event of the proposed dissolution or
liquidation of the Company, the Administrator shall notify the Participant as soon as practicable
prior to the effective date of such proposed transaction. The Administrator in its discretion may
provide for the Participant to have the right to exercise his Award until ten (10) days prior to
such transaction as to all of the stock covered thereby, including shares of Restricted Stock as to
which the Award would not otherwise be vested or exercisable. In addition, the Administrator may
provide that any Company repurchase option or forfeiture applicable to any shares covered by the
Award shall lapse as to all such shares, provided the proposed dissolution or liquidation takes
place at the time and in the manner contemplated. To the extent it has not been previously
exercised, if applicable, an Award will terminate immediately prior to the consummation of such
proposed action.

          (c) Change of Control. In the event of a Change of Control, each outstanding
Restricted Stock award shall be assumed or an equivalent award substituted by the successor
corporation or a Parent or subsidiary of the successor corporation. In the event that the
successor corporation refuses to assume or substitute for the Restricted Stock, the Participant
shall fully vest in the Restricted Stock, including shares of Restricted Stock as to which it would
not otherwise be vested. For the purposes of this paragraph, the Restricted Stock shall be
considered assumed if, following the Change of Control, the Restricted Stock confers the right to
receive, for each share of Restricted Stock and each unit/right to acquire a share of Restricted
Stock that is subject to the Restricted Stock award immediately prior to the Change of Control, the
consideration (whether stock, cash, or other securities or property) received in the Change of
Control by holders of Common Stock for each share of Restricted Stock and each unit/right to
acquire a share of Restricted Stock held on the effective date of the transaction (and if holders
were offered a choice of consideration, the type of consideration chosen by the holders of a
majority of the outstanding shares); provided, however, that if such consideration received in the
Change of Control is not solely common stock of the successor corporation or its Parent, the
Administrator may, with the consent of the successor corporation, provide for the consideration to
be received, for each share of Restricted Stock and each unit/right to acquire a share subject to
the Restricted Stock award, to be solely common stock of the successor corporation or its Parent
equal in fair market value to the per share consideration received by holders of Common Stock in
the Change of Control.

6

 

     6. Non-Transferability of Restricted Stock. Restricted Stock may not be sold,
pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by
the laws of descent or distribution.

     7. Conditions Upon Issuance of Shares. No Restricted Stock shall be issued pursuant
to this Award Agreement if the issuance and delivery of such Restricted Stock would constitute a
violation of any applicable federal or state securities law or other law or regulation, or would
fail to satisfy the requirements of any stock exchange upon which the Restricted Stock may then be
listed. As a condition to the issuance and delivery of the Restricted Stock, the Company may
require the Participant to satisfy any qualifications that may be necessary or appropriate, to
evidence compliance with any applicable law or regulation and to make any representation or
warranty with respect thereto as may be requested by the Company. The Company shall not be
required (a) to transfer on its books any shares which are sold or transferred in violation of any
of the provisions set forth in this Award Agreement or the Employment Agreement, or (b) to treat as
the owner of the shares or to accord the right to vote as such owner or to pay dividends to any
transferee to whom the shares shall have been so transferred.

     8. Legends. The Company may at any time place legends referencing the Unvested Share
Reacquisition Right set forth above and any applicable federal and/or state securities law or other
restrictions on any and all certificates representing shares of Restricted Stock subject to the
provisions of this Award Agreement. The Participant shall, at the request of the Company, promptly
present to the Company any and all certificates representing shares of Restricted Stock acquired
under this Award Agreement in the possession of the Participant in order to carry out the
provisions of this Section 8. Unless otherwise specified by the Company, legends placed on such
certificates may include, but shall not be limited to, the following:

          “THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS SET FORTH IN THIS
AWARD AGREEMENT BETWEEN THE CORPORATION AND THE REGISTERED HOLDER, OR SUCH HOLDER’S PREDECESSOR IN
INTEREST, A COPY OF WHICH IS ON FILE AT THE PRINCIPAL OFFICE OF THE CORPORATION.”

     9. Escrow.

          (a) Establishment of Escrow. To ensure that the Restricted Shares subject to the
Unvested Share Reacquisition Right will be available for reacquisition, the Company may require the
Participant to deposit the certificate or certificates evidencing the Unvested Shares with an
escrow agent designated by the Company under the terms and conditions of an escrow agreement
approved by the Company. If the Company does not require such deposit as a condition of the
issuance of Restricted Stock to the Participant, the Company reserves the right at any time to
require the Participant to so deposit the Unvested Share certificate or certificates in escrow.
The Company shall bear the expenses of the escrow.

          (b) Delivery of Shares to the Participant. As soon as practicable after the
expiration of the Unvested Share Reacquisition Right, the escrow agent shall deliver to the
Participant the Restricted Stock no longer subject to such restriction.

     10. Section 83(b) Election; Withholding. The Participant acknowledges and understands
that when the shares of Restricted Stock become Vested Shares under this Award Agreement, Section
83 of the Code imposes a tax at ordinary income rates with respect to such Vested Shares in an
amount equal to the fair market value of such Vested Shares, determined on the date such shares
become Vested Shares. The Participant also understands that (i) alternatively, the Participant may
elect to be taxed in the year the shares were granted rather than when the shares become Vested
Shares by filing an election under Section 83(b) of the Code with the Internal Revenue Service within thirty (30) days from the
Grant Date; (ii) if

7

 

the Participant files such an election, the Participant will be taxed at
ordinary income rates on the fair market value of the shares on the Grant Date; (iii) if the
Participant makes such an election he must provide the Company with a copy of the election no later
than three (3) business days after filing the election with the Internal Revenue Service; and (iv)
the Participant must file another copy of the election with his federal income tax return for the
tax year in which Participant filed the election. The Participant acknowledges that it is the
Participant’s sole responsibility and not the Company’s responsibility to determine whether it is
advisable to make the election and, if the Participant so elects, to file the election in a timely
fashion and to make any filings under corresponding provisions of state tax law.

     At the time that this Award Agreement is executed, or at any time thereafter as determined by
the Company, the Company shall have the right to withhold the applicable minimum withholding taxes,
including but not limited to federal tax, state tax, foreign taxes, or social taxes, if any, which
arise in connection with the acquisition of Restricted Stock pursuant to the Employment Agreement,
including, without limitation, obligations arising upon (i) the transfer, in whole or in part, of
any shares of Restricted Stock, (ii) the lapse of any restriction with respect to any shares of
Restricted Stock acquired pursuant to the Employment Agreement, or (iii) the filing of an election
to recognize a tax liability. The Participant authorizes the Company to withhold from the
Participant’s compensation such amounts as may be necessary to satisfy the minimum applicable tax
withholding obligations arising in connection with the issuance of the shares of Restricted Stock
pursuant to the Employment Agreement. The Company shall have no obligation to issue a certificate
as to the shares and/or to release the shares from escrow until applicable withholding obligations
have been satisfied.

     11. Trade Shares for Taxes. Please circle the applicable election below if you wish
to trade shares to satisfy the minimum required tax withholding determined upon the date of vesting
outlined in this Agreement. If you elect to trade shares to satisfy the minimum taxes due, the
remaining amount due after the trade, less than the value of one share, will be deducted from your
cash compensation. If you wish to change your election during the life of the Award Agreement, you
must contact stock administration at least thirty (30) days prior to the applicable vesting date.

TRADE SHARES FOR TAXES DUE (please circle one):     YES [CIRCLED]     NO

If you do not wish to trade shares for taxes, and select “no” above, you must provide payment to
stock administration within fifteen (15) days from date of vesting. If payment is not provided
within fifteen (15) days after applicable taxes are due, stock administration will have the
authority and discretion to (i) trade shares to satisfy such applicable taxes or (ii) to withhold
the entire tax obligation from your compensation.

     12. Broker. Your Restricted Stock will be deposited directly into your brokerage
account with the Company’s approved broker when vested and the applicable withholding obligations
have been satisfied.

     13. Further Instruments; Binding Effect. The parties hereto agree to execute such
further instruments and to take such further action as may reasonably be necessary to carry out the
intent of this Award Agreement. This Award Agreement shall inure to the benefit of and be binding
upon the parties hereto and their respective heirs, executors, administrators, successors and
assigns.

     14. Administration; Amendment or Termination. All questions of interpretation
concerning this Award Agreement shall be determined by the Administrator in its sole discretion.
All determinations by the Administrator shall be final and binding upon all persons having an
interest in this Award Agreement. The Administrator may at any time amend, alter, suspend or
terminate the Agreement; provided, however, that no such amendment, alteration, suspension or termination
may adversely affect the Restricted Stock hereof without the written consent of the Participant.
Termination of

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the Agreement shall not affect the Administrator’s ability to exercise the powers
granted to it hereunder with respect to Awards granted under the Agreement prior to the date of
such termination.

     15. Entire Agreement; Applicable Law; Severability. This Award Agreement, along with
the Participant’s Employment Agreement, constitutes the entire agreement of the parties with
respect to the subject matter hereof and supersedes in their entirety all prior undertakings and
agreements of the Company and the Participant with respect to the subject matter hereof. To the
extent that this Award Agreement sets forth terms and conditions that are less beneficial to the
Participant than the Employment Agreement, the terms of the Employment Agreement shall prevail.

     If one or more provisions of this Award Agreement are held invalid, illegal and/or
unenforceable in any respect, the validity, legality and enforceability of the remaining provisions
shall not in any way be affected or impaired thereby and the invalid, illegal or unenforceable
provision(s) shall be deemed null and void; provided, however, to the extent permissible under
applicable law, that any such provision(s) shall be first construed, interpreted and/or revised to
permit this Award Agreement to be construed so as to foster the intent of this Award Agreement and
the Employment Agreement.

     16. Notices. Any notice to be given to the Company hereunder shall be in writing and
shall be addressed to the Company at its then current principal executive office or to such other
address as the Company may hereafter designate to the Participant. Any notice to be given to the
Participant hereunder shall be addressed to the Participant at the last address known to the
Company, or at such other address as the Participant may hereafter designate to the Company. A
notice shall be deemed to have been duly given when personally delivered or mailed by registered or
certified mail to the party entitled to receive it.

     17. Data Privacy. By entering into this Award Agreement, the Participant consents to
the collection, use and transfer of personal data as described in this Section. The Participant
understands that the Company and its subsidiaries hold certain personal information about the
Participant including, but not limited to, the Participant’s name, home address and telephone
number, date of birth, social security number or equivalent tax identification number, salary,
nationality, job title, any shares of stock or directorships held in the Company, details of all
shares or other entitlements to shares awarded, cancelled, exercised, vested, unvested or
outstanding in the Participant’s favor, for the purpose of managing and administering this Award
Agreement (“Data”). The Participant further understands that the Company and/or its
subsidiaries will transfer Data amongst themselves as necessary for the purposes of implementation,
administration, and management of the Participant’s participation in this Award Agreement, and that
the Company and/or its subsidiaries may each further transfer Data to any third parties assisting
the Company in the implementation, administration and management of this Award Agreement (“Data
Recipients”). Where the Company or any of its subsidiaries transfer Data to any Data
Recipients, it will take into account any legal obligations which apply with respect to the
processing of that Data. The Participant understands that these Data Recipients may be located in
the Participant’s country of residence, the European Economic Area, or elsewhere throughout the
world, including, but not limited to, the United States. The Participant hereby authorizes the
Data Recipients to receive, possess, use, retain and transfer Data in electronic or other form, for
the purposes of implementing, administering and managing the Participant’s participation in this
Award Agreement, including any transfer of such Data, as may be required for the administration of
this Award Agreement and/or the subsequent holding of shares of Restricted Stock on the
Participant’s behalf, to a broker or third party with whom the shares acquired upon vest may be
deposited. The Participant understands that he or she may, at any time, review the Data, require
any necessary amendments to it or withdraw the consent herein in writing by contacting the Company’s Stock Administration Department. The Participant further understands
that withdrawing consent may affect the Participant’s ability to participate in this Award
Agreement. Without prejudice to other provisions of this Award Agreement, the Company hereby
reserves the right to terminate the

9

 

Participant’s participation in this Award Agreement (including,
but not limited to, the Participant’s ability to vest in the shares of Restricted Stock granted
hereunder) if, by withdrawal of the Participant’s consent to the collection, use and transfer of
Data, the Company and/or Data Recipients may not, in the Company’s sole discretion, lawfully
administer the Participant’s participation in this Award Agreement.

10

 

     IN WITNESS WHEREOF, the parties hereto have executed this Award Agreement as of the day and
year first above written. By signing below, the Participant acknowledges that he/she has read,
understood and accepted all of the terms, conditions and restrictions of this Award Agreement.

	 	 	 	 	 
	PARTICIPANT

	 	 	 	3COM CORPORATION
	 
	 	 	 	 
	/s/ Ronald A. Sege

	 	 	 	/s/ Neal D. Goldman
	 

	 	 	 	 
	Ronald A. Sege

	 	 	 	Neal D. Goldman
	President and COO

	 	 	 	Executive Vice President and Chief Legal and
Administrative Officer
	 
	 	 	 	 
	5/16/08
	 	 	 	 
	 

	 	 	 	 
	Date

	 	 	 	Date

11

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