Document:

EX-10.19

 Exhibit 10.19 

Dear John: 
 I am excited to have you join the McAfee family
following the closing (the “Closing”) of the transaction between Intel and TPG in which Intel Security will once again become a stand-alone company named McAfee (the “Transaction”). We share a common vision of where we want to
take McAfee. You are considered a key leader and driver of our vision, and your contribution is critical to the success of McAfee. 
 I am pleased to offer
you the compensation package described below. The attached compensation profile provides an estimate of your annual compensation package (the “Profile”). 

Base Salary. Your annual base salary will continue at its current level, subject to any increases that occur before the Closing. 

Total Incentive Target. Effective as of the Closing, you will be eligible for the following incentive bonus programs with a total annual target of 124%
of your base salary, or an annual target of $583,766 based on your current base salary. 
  

	 	•	 	 Annual Incentive Program. All of your total annual bonus target is anticipated to be paid out annually for
the prior year based on McAfee’s financial performance, as well as (in certain cases) achievement of specified operational and/or individual goals, subject to the terms of the Corporate Bonus Plan. The attached Profile contains an estimate of
your annual performance bonus payout for 2017. 

 Long-Term Incentives. Additionally, the parent holding company
(“Parent”) of McAfee is establishing a long-term incentive pool to allow key employees, such as you, to share in future increases in value of the company. In recognition of your past contributions and as a reflection of your future
achievements and contributions, your long-term incentive awards will consist of three elements: 
  

	 	•	 	 Cash Award. At the Closing, you will receive a cash award, the value of which will be equal to the value
at the Closing of the unvested Intel RSUs that you held that are scheduled to vest during the first year following the Closing (with a value based on the closing price of Intel’s stock on the last trading day prior to the Closing, and with such
amount payable without interest). This cash award will vest on the same basis as the Intel restricted stock units (“Intel RSUs”) to which they relate (or pursuant to a vesting schedule with earlier vesting dates). The cash award will be
subject to the terms and conditions of a long-term incentive plan and the award agreement. 

  

	 	•	 	 Restricted Share Units. At the Closing, you will receive a grant of Restricted Share Units
(“RSUs”), which will have the same value (at grant) as unvested Intel RSUs that you hold immediately prior to the Closing, that are scheduled to vest after the first year following the Closing. The initial value of the RSUs will be
determined based on Intel’s closing price on the last trading day prior to the Closing. The RSUs will vest on the same basis as the Intel RSUs that they replace (or pursuant to a vesting schedule with earlier vesting dates), and will be payable
in the form of common units of Parent. Accordingly, the value at distribution will take into account increases in value of the equity after the date of grant. 

  
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The RSU grant will be subject to the terms and conditions of the Parent limited liability company agreement (the “LLC Agreement”), a long-term incentive plan and the award agreement.

 You may elect to receive an additional cash award in lieu of the RSU grant. If you elect to receive the additional cash
award instead of RSUs, the aggregate amount payable under the additional cash award will be fixed at the date of the Closing and will be equal to the number of your unvested Intel RSUs that are scheduled to vest after the first year multiplied by
the Intel closing price on the last trading day prior to the Closing. You will not receive interest or share in any increase in or appreciation in the value of McAfee through this cash award. This additional cash award will vest on the same basis as
the Intel RSUs to which they relate (or pursuant to a vesting schedule with earlier vesting dates). The cash award will be subject to the terms and conditions of a long-term incentive plan and the award agreement. 

 

	 	•	 	 Profits Interest. You will receive an equity grant consisting of profits interests, which is a form of
partnership interest, in McAfee. Through your equity grant, you will share in the appreciation in the value of McAfee from the date of grant, which is expected to be the Closing. One-half of your grant will be
subject to time-based vesting and the remainder will be subject to performance-based vesting. The grant will be subject to the terms and conditions of the LLC Agreement, a long-term incentive plan and the award agreement. 

Looking ahead: Your compensation, including your base pay, cash incentive target and long-term incentive grants will be reviewed through McAfee’s
annual performance review process. McAfee anticipates providing a comprehensive benefits package for eligible employees that will include a 401(k) Plan to be established by McAfee and medical, dental, vision, short-term and long term disability and
life insurance programs. After the Closing, you will need to complete additional documents relating to employment with McAfee, including documents related to McAfee’s code of conduct, confidentiality and trade secret protection, certain
post-employment restrictions, right to work in the US and export license controls. You acknowledge that this offer is expressly conditioned on your completion of such documents. 

Taxation. Payments described in this letter will be subject to applicable taxes, deductions and withholdings. 

Effective Date. This offer letter is contingent, and will become effective, upon the successful closing of the Transaction, subject to your continued
service with Intel through the closing of the Transaction. If the Transaction does not close or your service with Intel terminates prior to the Closing, this offer will be null and void. 

Assignment and Assumption. McAfee may assign its rights and obligations under this offer letter at any time to an affiliate or a successor, in which
case, references in this offer letter to “McAfee” shall mean such affiliate or successor. In that event, the affiliate or successor will assume the rights and obligations of McAfee under this offer letter. You may not assign any of your
rights or obligations hereunder. 

  
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 Entire Agreement. Effective as of the Closing, this offer letter will supersede and replace all prior
agreements and communications related to your Intel compensation following the Closing. This letter and your response are not intended to constitute, and shall not be construed to constitute, a contract of employment for a definite term. Employment
with McAfee is on an at-will basis. 
 Our goal is to provide you with a rewarding career at McAfee with outstanding
compensation. 
 John, thank you once again for all you do. We truly believe that McAfee’s best days are ahead of us. We have the assets, the
technology, and the talent to win. We hope that you will be a critical part of this winning strategy and are delighted to be welcoming you to McAfee. 

Sincerely, 
 Christopher Young 

President 
 McAfee, Inc. 

Accepted and Agreed: 
  

					
	  
	  		  	  

	John Giamatteo	  		  	Date

  
 3EX-10.20

 Exhibit 10.20 

 
 

 
 September 30, 2020 

Dear Ash: 
 This letter agreement (this
“Agreement”) amends and restates the terms of your employment offer letter with McAfee, LLC dated September 4, 2018 (the “Original Agreement”), and becomes effective (the “Effective Time”) as
of immediately prior to the consummation of the initial public offering (the “IPO”) of Class A common stock of McAfee Corp. (“McAfee Corp.”). If the IPO is not consummated on or before March 31, 2021, this
Agreement shall be null and void and of no force or effect. To confirm your acceptance of this Agreement, please review this Agreement and countersign where indicated below. 

As of and following the Effective Time, you will remain employed by McAfee, LLC (“McAfee” or the “Company”) according to the
terms and conditions of employment in this Agreement. 
 Position. Your position will continue to be Executive Vice President and Chief
Product Officer, Enterprise Business Group, reporting to the Chief Executive Officer of McAfee. Your work location will be San Jose, CA. 
 Base Salary.
As part of a competitive compensation package, your annual base pay will continue to be $625,000. 
 Incentive Program. You will continue to be
eligible to participate in the annual incentive program and quarterly incentive Program under McAfee’s corporate bonus plan (as in effect from time to time), with a total annual target of 100% of your annual base salary (i.e., $625,000
based on your current annual base salary). Any bonuses earned will be payable in accordance with McAfee’s corporate bonus plan, as may be amended from time to time, but in no event shall any actual bonus be paid later than 21⁄2 months following the end of the fiscal year for which such compensation is earned. Actual bonus awards may pay below or above your annual target opportunity,
including a zero payout, based on your and McAfee’s achievement of the applicable performance goals or objectives. 
 Long-term
incentive plan. You will continue to be eligible to receive equity and equity-based awards in the discretion of the Board of Directors of McAfee Corp. (the “Board”) or its Compensation Committee on such terms and
conditions as are determined by the Board or such committee. 
 Prior Bonuses. If you resign for any reason or are terminated for cause
prior to October 31, 2020, you agree to repay $1,400,000 from the hiring and retention bonuses you received under the Original Agreement, and any repayment due will be made to the Company within 1 year following your termination date. 

For purposes of this paragraph only, “cause “ means your: (a) misconduct in connection with the performance of your duties as an employee of
the Company; (b) commission of or plea of guilty or no contest to a felony or other crime involving moral turpitude; (c) performance of any act of 

  
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fraud, disloyalty or dishonesty in connection with or relating to the business of McAfee or its affiliates; or (d) breach of any provision of any employment or similar agreement between you
and the Company or violation of any Company policies or procedures. 
 Performance Award. If you remain actively employed by McAfee as of
May 1, 2021, not later than fifteen (15) days following such date the Company will pay you an amount in cash equal to $1,250,000, subject to all applicable tax withholding. 

Comprehensive Benefits. You will continue to be eligible for our 401(k), our health benefits, dental, vision, disability and life insurance. In
addition, we offer flexible work arrangements (for some roles), holidays and vacation pay, education reimbursement (with manager approval), and volunteer opportunities. Each of these benefits is subject to the terms and conditions of the benefit
program and plans, including waiting periods for some. Nothing in this Agreement shall preclude the Company from amending or terminating any employee benefit plan or program, subject to the terms of the applicable plan or program. 

Company Policies. As a Company employee, you agree to abide by the rules and policies of the Company, McAfee Corp. and their affiliates which may
change from time to time in accordance with applicable laws. Such policies may include, without limitation, equity ownership requirements, clawback policies, insider trading policies and policies regarding hedging or pledging of securities. 

At Will Employment. Your employment at McAfee is “at will,” which means that both McAfee and you have the right to end your employment
at any time, with or without advance notice, and with or without cause. 
 Entire Agreement. We intend this Agreement to capture completely all the
terms of your employment offer with respect to the subject matter hereof and, as of the Effective Time, this Agreement supersedes your Original Agreement, your letter agreement with the Company dated March 23, 2020 and all other prior
agreements, arrangements and communications between the parties dealing with such subject matter, whether oral or written; provided that this Agreement will not supersede the letter agreement regarding severance by and among you, McAfee Corp.
and McAfee to be dated in or about October 2020 (including all exhibits thereto), all your equity award agreements in effect prior to the Effective Time, any arbitration agreement with McAfee or any of its affiliates, any effective assignment of any
invention or other intellectual property to McAfee or any of its affiliates or any other confidentiality, non-competition, non-solicitation of employees, independent
contractors or like obligations. Nothing in this Agreement or any other agreement with the Company limits, restricts or in any other way affects you communicating with any governmental agency or entity, or communicating with any official or staff
person of a governmental agency or entity, concerning matters relevant to the governmental agency or entity, or requires you to provide notice the Company with notice of the same. You cannot be held criminally or civilly liable under any federal or
state trade secret law for disclosing a trade secret (1) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, solely for the purpose of reporting or investigating a suspected
violation of law, or (2) in a complaint or other document filed under seal in a lawsuit or other proceeding. 

  
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 If you have any questions, please email or call me. 

Sincerely, 
  

	
	 /s/ Chatelle Lynch

	Chatelle Lynch
	SVP, Chief People Officer

 [Remainder of Page Intentionally Left Blank] 

  
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 I understand, accept and agree to the terms of this Agreement. 

 

	
	 /s/ Ashutosh Kulkarni

	Ashutosh Kulkarni

 [Signature Page to Offer Letter]

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