Document:

exv10w2

Exhibit 10.2

September 14, 2007

Michael DeCesare

[Address Omitted]

Re: Offer of Employment

Dear Michael:

I am pleased to offer you a position at McAfee as Executive Vice President, WW Field Operations
reporting directly to me. If you decide to join us, your annual base salary will be $600,000 which
will be paid semi-monthly in the amount of $25,000 less applicable withholdings. This is an exempt
position. Additionally, you will be eligible to participate in the McAfee Executive Bonus Plan for
your position at an annual target bonus of $600,000 which will be pro rated in your first year. You
will receive more specific information on this plan after you have started employment with the
company.

In addition, I will recommend to the Board of Directors that you receive a stock option grant for
100,000 shares of the Company’s Common Stock with a grant date, vesting commencement date, and
strike price to be determined at the sole discretion of the Board of Directors and/or its
Compensation Committee. This option will vest over a four year period, with 25% vesting on the
first anniversary of the grant date and the remainder in equal amounts over the next 36 monthly
periods. It shall be subject to the terms of the Company’s Stock Option Plan and the standard
option agreements pursuant to the plan. You will receive information on this Plan at a later date.

I am pleased to inform you that I will recommend to the Board of Directors that you receive a
restricted stock unit (“RSU”) award for 50,000 shares of the Company’s Common Stock with a grant
date, vesting commencement date, and par value to be determined at the sole discretion of the Board
of Directors and/or its Compensation Committee. The RSU award will vest 1/3 on the first
anniversary of the vesting start date, 1/3 on the second anniversary of the vesting start date and
1/3 on the third anniversary of the vesting start date. These units and their vesting shall be
subject to the terms of the Company’s Stock Plan. You will receive further information on this
Plan at a later date.

I am also pleased to inform you that I will recommend to the Board of Directors that you receive a
performance stock unit (“PSU”) award for 50,000 shares of the Company’s Common Stock with a grant
date, vesting commencement date, and par value to be determined at the sole discretion of the Board
of Directors and/or its Compensation Committee. The PSU award will vest 1/3 on the first
anniversary of the vesting start date, 1/3 on the second anniversary of the vesting start date and
1/3 on the third anniversary of the vesting start date assuming specific qualitative and
quantitative financial milestones as set forth by the Board of Directors or its designee are met
during each potential vesting period. Should these milestones not be met during each potential
vesting period then 50% of the balance of all unvested PSUs award will vest five years from the
original grant date. These units and their vesting shall be subject to the terms of the Company’s
Stock Plan. You will receive further information on this Plan at a later date.

If you choose to accept this offer, your employment with McAfee, Inc. will be voluntarily entered
into and will be for no specified period. As a result, you will be free to resign at any time, for
any reason or for no reason, as you deem appropriate. McAfee, Inc. will have a similar right and
may conclude its employment relationship with you at any time, with or without cause. Upon
separation from the company for any reason, you also agree to return to the Company any equipment
that has been provided to you or reimburse the

 

 

Company the cost for such equipment. The Company reserves the right to deduct such costs from any
final payments made to you in accordance with state and federal laws.

You agree to devote your full business efforts and time to the Company and will use good faith
efforts to discharge your obligations to the best of your ability and in accordance with the
Company’s written guidelines and policies. You agree not to actively engage in any other
employment, occupation, or consulting activity for any direct or indirect remuneration without the
prior approval of the Board or its Compensation Committee (the “Compensation Committee”).

In the event your “at-will” employment by McAfee, Inc. is terminated for any reason, you will be
entitled to receive payment for all accrued pay and allowances, as well as payment for the value of
all accrued but unused vacation time as set out on the books of the Company, less all appropriate
withholdings. You may also be entitled to severance benefits as set out below under the
circumstances described hereinafter. Neither you nor your estate will be entitled to the severance
benefits described hereinafter in the event of your death or total disability, neither of which is
considered to constitute a resignation for Good Reason.

Should you be terminated as a result of a Resignation for Good Reason, which is defined as the
occurrence of any of the following, without your consent: (i) a reduction of your Base Salary below
the amount set forth in this offer letter agreement; (ii) a reduction in your Target Bonus below
the amount set forth in this offer letter agreement, or a material reduction in the aggregate
benefits provided in this offer letter agreement other than as part of an across the board policy
change for senior executives; (iii) any material reduction in your title, (iv) a material reduction
in your duties or responsibilities, or (v) a requirement to relocate more than thirty-five (35)
miles from your then current office location, provided, however, that Good Reason shall not exist
unless you have provided the Company with written notice of the purported grounds for such Good
Reason and such purported grounds, after good faith negotiations, are not cured within thirty (30)
days of the Company’s receipt of such written notice, then as consideration for your execution of a
Release of Claims and compliance with SOX certification requirements in form and with substance
provided by McAfee in its absolute discretion, you will be eligible to receive all severance
benefits listed below, less appropriate withholdings.

Additionally, except for a termination for cause or a termination resulting from our inability to
obtain a clear background investigation, you will be eligible for the severance benefits listed
below. A termination for cause means a termination of an executive’s employment by the Company
based upon a good faith determination by the Board of Directors or its designee, that one of the
following has occurred.

	 	(A)	 	Executive’s commission of a material act of fraud with respect to the Company
in connection with executive carrying out his responsibilities as an employee;
	 
	 	(B)	 	Any intentional refusal or willful failure to carry out the reasonable
instructions of the Chief Executive Officer or the Board of Directors
	 
	 	(C)	 	Executive’s conviction of, or plea of nolo contendere to, a misdemeanor crime
of moral turpitude or to any felony; or
	 
	 	(D)	 	Executive’s gross misconduct in connection with the performance of his duties

Severance Benefits:

	 	1.	 	a sum equivalent to twelve (12) months of base salary and bonus and,

 

 

	 	2.	 	if you are then covered by the Company health care plan, the equivalent of
twelve (12) months cost of pre-tax COBRA coverage, and
	 
	 	3.	 	for the initial new hire stock option grant only which are subject to grant
approval by the Board of Directors and/or its Compensation Committee as noted above,
the Company will fully accelerate their vesting by one full year the exerciseability
of which will remain subject to the terms of the Option Plan and any blackout which
might then exist.

Please note further that in the event you receive less than your full bonus payout for performance
reasons either of you or of the Company, this does not create a condition qualifying as resignation
for Good Reason.

It is not the intention for any payment under this Agreement to create or constitute a
“nonqualified deferred compensation plan” within the meaning of Section 409A of the Internal
Revenue Code of 1986 (as amended). Should it be reasonably determined that any payment hereunder
falls within the purview of Section 409A thus subjecting you to additional tax liability, the
Company shall be entitled on written request by you, to defer such payment until the expiry of six
months following the date of termination of employment. If such payment is deferred as provided
for herein, upon conclusion of the period of deferral, such amounts shall be paid in a lump sum,
less all appropriate withholdings.

You will be eligible to participate in the Executive Change of Control program commensurate for
your position with McAfee.

For purposes of federal immigration law, you will be required to provide to McAfee, Inc.
documentary evidence of your identity and eligibility for employment in the United States. Such
documentation must be provided to us within three business days of your date of hire with McAfee,
Inc., or our employment relationship with you may be terminated.

McAfee, Inc. requires that job candidates provide certain information on their employment
application and other documents so McAfee, Inc. can undertake appropriate investigations regarding
the backgrounds of all job candidates. A candidate must successfully complete the background
investigation to be eligible for employment with McAfee, Inc. The Company considers background
information and investigation results when making hiring decisions. Therefore, all employment
offers are contingent upon the successful completion of the background investigation. In the event
for any reason you have commenced employment prior to a full background investigation having been
completed and it is ultimately determined that the background investigation results are not
acceptable, as determined by McAfee in its sole discretion, your employment relationship will be
terminated and none of the Severance Benefits as described above will either be due or payable.

You will be required to sign an Employee Inventions and Proprietary Rights Assignment Agreement as
a condition of your employment. In addition, you will also be required to complete a Form W-4 and
sign and abide by the McAfee, Inc.’ Insider Trading Policy, and its Drug Free Workplace Policy.
This letter, along with any agreements relating to proprietary rights between you and McAfee, Inc.,
set forth the terms of your employment with McAfee, Inc. and supersede any prior representations or
agreements, whether written or oral. This letter may not be modified or amended except by writing
signed by McAfee, Inc.

In the event of any dispute or claim relating to or arising out of our employment relationship,
this agreement, or the termination of our employment relationship (including, but not limited to,
any claims of retaliation, wrongful termination or age, sex, disability, race or other
discrimination), you and McAfee, Inc. agree that all such disputes shall be fully, finally and
exclusively resolved by binding arbitration conducted by the American Arbitration Association in
California or the state in which you work if other than California, and we

 

 

waive our rights to have such disputes tried by a court or jury. However, we both agree that this
arbitration provision shall not apply to any disputes or claims relating to or arising out of the
misuse or misappropriation of your or the Company’s trade secrets or proprietary information.

To indicate your acceptance of the McAfee, Inc. offer, please sign, date and return this letter to
Roger Bean, Vice President of Human Resources/Americas at (972) 987-2783 or US mail to 5000
Headquarters Drive, Plano TX 75024 no later than September 21, 2007. If we do not hear from you by
August 23, 2007 we will assume you have decided not to join McAfee, Inc.

If you do accept employment with McAfee, Inc., it is very important that you submit your new hire
documentation within 1 day of your start date. McAfee, Inc. needs the following: 1) I-9 Form, 2)
W-4 Form, 3) Employment Application, 4) Emergency Contact, 5) Direct Deposit information, and 6) an
original signed offer letter to enter you into the McAfee, Inc. payroll. Additionally, on your
first day of employment, please contact your HR Manager; you can refer to the list of managers in
the new hire packet.

Michael, we look forward to working with you at McAfee, Inc. If you have any questions regarding
any points in this letter please contact me. Welcome aboard!

	 	 	 	 	 
	Sincerely,

 	 	 
	/s/ David DeWalt
 	 	 
	David DeWalt 	 	 
	President and CEO

McAfee, Inc. 	 	 
	 

I accept the terms of this letter and agree to keep the terms of this letter confidential.

	 	 	 	 	 
	/s/ Michael DeCesare
 

Signature of Michael DeCesare

	 	 	 	9/26/2007

Date
	 
	 	 	 	 
	I agree to start work for McAfee on:

	 	 	 	10/2/2007

Start Dateexv10w3

Exhibit 10.3

McAFEE, INC.

Amendment of Stock Options

     By electing to amend your discount options, the outstanding Stock Option Agreements (the
"Agreements”) related to grants number 23552, 31936, and 32115 under the McAfee, Inc. (the
"Company”) 1997 Stock Incentive Plan and the Networks Associates, Inc. 2000 Nonstatutory Stock
Option Plan (together, the “Plans”) by and between the Company and Christopher Bolin (“Optionee”)
are hereby amended as follows:

     Unless otherwise defined herein, initially capitalized terms shall have the same meanings as
defined in the Plan.

     1. Effective Date. This Amendment of Stock Options and Election to Amend Stock
Options (“Amendment”) is effective as of the last date on which this Agreement is executed (the
“Effective Date”).

     2. Amendments to Exercise Price Per Share.

	 	(a)	 	The exercise price of the options which vest January 1, 2005 or later,
to purchase 2,083 shares of Company common stock under grant number 23552 are
hereby increased to $6.03 per share;
	 
	 	(b)	 	The exercise price of the options which vest January 1, 2005 or later,
to purchase 30,000 shares of Company common stock under grant number 31936 are
hereby increased to $18.90 per share; and
	 
	 	(c)	 	The exercise price of the options which vest January 1, 2005 or later,
to purchase 75,000 shares of Company common stock under grant number 32115 are
hereby increased to $16.75 per share.

     3. Option Agreements. To the extent not expressly amended hereby, the Agreements
remain in full force and effect.

     4. Payment. In order to compensate you for 100% of the value lost by increasing your
option exercise prices, the Company agrees to pay you $135,532.72 on the first payroll date in
January 2009, irrespective of whether or not you are an employee of the Company on such date.

     5. Entire Agreement. This Amendment, taken together with the Agreements (to the extent
not expressly amended hereby), and any duly authorized written or electronic agreement entered into
by and between the Company and Optionee relating to the stock option grants evidenced by the
Agreements, represent the entire agreement of the parties, supersede any and all previous
contracts, arrangements or understandings between the parties with respect to the stock option
grants evidenced by the Agreements, and may be amended at any time only by mutual written agreement
of the parties hereto.

 

 

     This Amendment must be properly completed and signed by you and delivered to Jared Ross at
McAfee, Inc., 5000 Headquarters Dr., Plano, Texas, 75024, U.S.A.

     IN WITNESS WHEREOF, this instrument is effective as of the Effective Date.

	 	 	 	 	 
	McAFEE, INC.	 	OPTIONEE	 	 
	 
	 	 	 	 
	/s/ Eric Brown
 

Signature

	 	/s/ Christopher Bolin
 

Signature
	 	 
	 
	 	 	 	 
	2/11/08
 

Date of Signature

	 	2/11/08
 

Date of Signature
	 	 
	 
	 	 	 	 
	Eric Brown
 

Print Name

	 	Christopher Bolin
 

Print Name
	 	 
	 
	 	 	 	 
	CFO & COO
 

Title

	 	EVP & CTO
 

Title
	 	 
	 
	 	 	 	 
	 

	 	[Omitted]
 

Residence Address
	 	 

-2-

 

Equity Summary

Section 16

Chris Bolin

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	FMV on	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Revised	 	Revised	 	 	 	 	 	 	 	 	 	Outstanding	 	Outstanding	 	Number of	 	 
	 	 	 	 	 	 	Original	 	Exercise	 	Discounted	 	Measurement	 	Measurement	 	 	 	 	 	Shares	 	Shares Subject	 	Shares Not	 	Shares Eligible	 	Potential Cash
	Grant Number	 	Grant Type	 	Grant Date	 	Price	 	Grant	 	Date	 	Date	 	Original Grant	 	Outstanding *	 	to 409A *	 	Subject to 409A *	 	for Repricing	 	Payment
	35505
	 	RSU	 	 	3/7/2006	 	 	$	0.00	 	 	N/A	 	 	 	 	 	 	 	 	 	 	50,000	 	 	 	50,000	 	 	 	0	 	 	 	50,000	 	 	 	 	 	 	 	 	 
	35418
	 	RSA	 	 	8/23/2005	 	 	$	0.01	 	 	N/A	 	 	 	 	 	 	 	 	 	 	50,000	 	 	 	16,666	 	 	 	0	 	 	 	16,666	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	33886
	 	NQO	 	 	4/19/2005	 	 	$	21.61	 	 	No	 	 	 	 	 	 	 	 	 	 	80,000	 	 	 	80,000	 	 	 	0	 	 	 	80,000	 	 	 	 	 	 	 	 	 
	32115
	 	NQO	 	 	5/4/2004	 	 	$	16.57	 	 	Yes	 	 	7/21/2004	 	 	$	16.75	 	 	 	75,000	 	 	 	75,000	 	 	 	75,000	 	 	 	0	 	 	 	75,000	 	 	$	13,500.00	 
	31936
	 	NQO	 	 	1/2/2004	 	 	$	14.96	 	 	Yes	 	 	4/13/2004	 	 	$	18.90	 	 	 	30,000	 	 	 	30,000	 	 	 	30,000	 	 	 	0	 	 	 	30,000	 	 	$	118,200.00	 
	29068
	 	NQO	 	 	1/2/2003	 	 	$	16.90	 	 	No	 	 	4/8/2003	 	 	$	13.75	 	 	 	35,000	 	 	 	35,000	 	 	 	0	 	 	 	35,000	 	 	 	 	 	 	 	 	 
	26488
	 	NQO	 	 	1/16/2002	 	 	$	25.43	 	 	No	 	 	4/9/2002	 	 	$	22.50	 	 	 	40,000	 	 	 	40,000	 	 	 	0	 	 	 	40,000	 	 	 	 	 	 	 	 	 
	23552
	 	NQO	 	 	1/2/2001	 	 	$	4.19	 	 	Yes	 	 	2/12/2001	 	 	$	6.03	 	 	 	100,000	 	 	 	72,500	 	 	 	2,083	 	 	 	70,417	 	 	 	2,083	 	 	$	3,832.72	 
	20390
	 	NQO	 	 	7/3/2000	 	 	$	21.13	 	 	No	 	 	 	 	 	 	 	 	 	 	20,000	 	 	 	20,000	 	 	 	0	 	 	 	20,000	 	 	 	 	 	 	 	 	 
	18779
	 	NQO	 	 	1/4/2000	 	 	$	24.56	 	 	Yes	 	 	5/9/2000	 	 	$	25.00	 	 	 	4,500	 	 	 	4,500	 	 	 	0	 	 	 	4,500	 	 	 	 	 	 	 	 	 
	15184
	 	NQO	 	 	10/18/1999	 	 	$	16.94	 	 	Yes	 	 	1/24/2000	 	 	$	28.50	 	 	 	10,000	 	 	 	10,000	 	 	 	0	 	 	 	10,000	 	 	 	 	 	 	 	 	 
	13753
	 	NQO	 	 	4/22/1999	 	 	$	11.06	 	 	No	 	 	 	 	 	 	 	 	 	 	10,000	 	 	 	10,000	 	 	 	0	 	 	 	10,000	 	 	 	 	 	 	 	 	 
	9893
	 	NQO	 	 	4/20/1999	 	 	$	11.06	 	 	No	 	 	 	 	 	 	 	 	 	 	5,000	 	 	 	5,000	 	 	 	0	 	 	 	5,000	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	NQO TOTAL:	 	 	 	 	 	 	382,000	 	 	 	107,083	 	 	 	274,917	 	 	 	107,083	 	 	$	135,532.72	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

			
	*	 	Data presented as of January 28, 2008

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