Document:

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                                                                   EXHIBIT 10.44

                        BINDVIEW DEVELOPMENT CORPORATION

                          2000 EMPLOYEE INCENTIVE PLAN

                       (AS AMENDED THROUGH MARCH 30, 2001)

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                        BINDVIEW DEVELOPMENT CORPORATION
                          2000 EMPLOYEE INCENTIVE PLAN

                                TABLE OF CONTENTS
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                                                                                                           Section
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ARTICLE I - PLAN

         Purpose................................................................................................1.1
         Effective Date of Plan.................................................................................1.2

ARTICLE II - DEFINITIONS

         Affiliate..............................................................................................2.1
         Board of Directors or Board............................................................................2.2
         Change of Control......................................................................................2.3
         Code...................................................................................................2.4
         Commission.............................................................................................2.5
         Committee..............................................................................................2.6
         Company  2.7
         Employee...............................................................................................2.8
         Exchange Act...........................................................................................2.9
         Fair Market Value.....................................................................................2.10
         Mature Shares ........................................................................................2.11
         Option   2.12
         Option Agreement......................................................................................2.13
         Plan..................................................................................................2.14
         Plan Year.............................................................................................2.15
         Restricted Stock......................................................................................2.16
         Restricted Stock Agreement............................................................................2.17
         Restricted Stock Purchase Price.......................................................................2.18
         Stock.................................................................................................2.19
         Stock Award...........................................................................................2.20
         Voting Stock..........................................................................................2.21

ARTICLE III - ELIGIBILITY

ARTICLE IV - GENERAL PROVISIONS RELATING TO OPTIONS AND STOCK AWARDS

         Authority to Grant Options and Stock Awards............................................................4.1
         Dedicated Shares.......................................................................................4.2
         Non-Transferability....................................................................................4.3
         Requirements of Law....................................................................................4.4
         Changes in the Company's Capital Structure.............................................................4.5
         Election Under Section 83(b) of the Code...............................................................4.6
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ARTICLE V - OPTIONS

         Option Price...........................................................................................5.1
         Duration of Options....................................................................................5.2
         Exercise of Options....................................................................................5.3
         Exercise on Termination of Employment..................................................................5.4
         Substitution Options...................................................................................5.5
         No Rights as Stockholder...............................................................................5.6

ARTICLE VI - STOCK AWARDS

         Stock Awards...........................................................................................6.1
         Restrictions...........................................................................................6.2
         Stock Certificate......................................................................................6.3
         Rights as Stockholder..................................................................................6.4
         Lapse of Restrictions..................................................................................6.5
         Restriction Period.....................................................................................6.6

ARTICLE VII - ADMINISTRATION

ARTICLE VIII - AMENDMENT OR TERMINATION OF PLAN

ARTICLE IX - MISCELLANEOUS

         No Establishment of a Trust Fund.......................................................................9.1
         No Employment Obligation...............................................................................9.2
         Forfeiture ............................................................................................9.3
         Tax Withholding........................................................................................9.4
         Written Agreement......................................................................................9.5
         Indemnification of the Committee and the Board of Directors............................................9.6
         Gender.................................................................................................9.7
         Headings...............................................................................................9.8
         Other Compensation Plans...............................................................................9.9
         Other Options or Awards...............................................................................9.10
         Governing Law.........................................................................................9.11
         Nonqualified Options..................................................................................9.12
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                                    ARTICLE I

                                      PLAN

        1.1 PURPOSE. This Plan is a plan for certain employees of the Company
and its Affiliates and is intended to advance the best interests of the Company,
its Affiliates, and its stockholders by providing those persons with additional
incentives and an opportunity to obtain or increase their proprietary interest
in the Company.

         1.2 EFFECTIVE DATE OF PLAN. The Plan is effective May 8, 2000.

                                   ARTICLE II

                                   DEFINITIONS

         The words and phrases defined in this Article shall have the meaning
set out in these definitions throughout this Plan, unless the context in which
any such word or phrase appears reasonably requires a broader, narrower, or
different meaning.

        2.1 "AFFILIATE" means any parent corporation and any subsidiary
corporation. The term "parent corporation" means any corporation (other than the
Company) in an unbroken chain of corporations ending with the Company if, at the
time of the action or transaction, each of the corporations other than the
Company owns stock possessing 50% or more of the total combined voting power of
all classes of stock in one of the other corporations in the chain. The term
"subsidiary corporation" means any corporation (other than the Company) in an
unbroken chain of corporations beginning with the Company if, at the time of the
action or transaction, each of the corporations other than the last corporation
in the unbroken chain owns stock possessing 50% or more of the total combined
voting power of all classes of stock in one of the other corporations in the
chain.

         2.2 "BOARD OF DIRECTORS" or "BOARD" means the board of directors of the
Company.

         2.3 "CHANGE OF CONTROL." A "Change in Control" shall have occurred if,
after the Effective Date of the Plan:

                  (i) a report on Schedule 13D or Schedule 14D-1 (or any
         successor schedule, form or report) shall be filed with the Commission
         pursuant to the Exchange Act and that report discloses that any person
         (within the meaning of Section 13(d) or Section 14(d)(2) of the
         Exchange Act), other than the Company (or one of its subsidiaries) or
         any employee benefit plan sponsored by the Company (or one of its
         subsidiaries), is the beneficial owner (as that term is defined in Rule
         13d-3 or any successor rule or regulation promulgated under the
         Exchange Act), directly or indirectly, of 20 percent or more of the
         outstanding Voting Stock;

                  (ii) any person (within the meaning of Section 13(d) or
         Section 14(d)(2) of the Exchange Act), other than the Company (or one
         of its subsidiaries) or any employee benefit plan sponsored by the
         Company (or one of its subsidiaries), shall purchase

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         securities pursuant to a tender offer or exchange offer to acquire any
         Voting Stock (or any securities convertible into Voting Stock) and,
         immediately after consummation of that purchase, that person is the
         beneficial owner (as that term is defined in Rule 13d-3 or any
         successor rule or regulation promulgated under the Exchange Act),
         directly or indirectly, of 20 percent or more of the outstanding Voting
         Stock (such person's beneficial ownership to be determined, in the case
         of rights to acquire Voting Stock, pursuant to paragraph (d) of Rule
         13d-3 or any successor rule or regulation promulgated under the
         Exchange Act);

                  (iii)    the consummation of:

                                    (x) a merger, consolidation or
                           reorganization of the Company with or into any other
                           person if (a) the Company is not the surviving entity
                           or (b) as a result of such merger, consolidation or
                           reorganization, 50 percent or less of the combined
                           voting power of the then-outstanding securities of
                           such other person immediately after such merger,
                           consolidation or reorganization are held in the
                           aggregate by the holders of Voting Stock immediately
                           prior to such merger, consolidation or
                           reorganization;

                                    (y) any sale, lease, exchange or other
                           transfer of all or substantially all the assets of
                           the Company and its consolidated subsidiaries to any
                           other person if as a result of such sale, lease,
                           exchange or other transfer, 50 percent or less of the
                           combined voting power of the then-outstanding
                           securities of such other person immediately after
                           such sale, lease, exchange or other transfer are held
                           in the aggregate by the holders of Voting Stock
                           immediately prior to such sale, lease, exchange or
                           other transfer; or

                                    (z) a transaction immediately after the
                           consummation of which any person (within the meaning
                           of Section 13(d) or Section 14(d)(2) of the Exchange
                           Act) would be the beneficial owner (as that term is
                           defined in Rule 13d-3 or any successor rule or
                           regulation promulgated under the Exchange Act),
                           directly or indirectly, of more than 50 percent of
                           the outstanding Voting Stock;

                  (iv) the stockholders of the Company approve the dissolution
         of the Company; or

                  (v) during any period of 12 consecutive months, the
         individuals who at the beginning of that period constituted the Board
         of Directors shall cease to constitute a majority of the Board of
         Directors, unless the election, or the nomination for election by the
         Company's stockholders, of each director of the Company first elected
         during such period was approved by a vote of at least a two-thirds of
         the directors of the Company then still in office who were directors of
         the Company at the beginning of any such period.

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         2.4 "CODE" means the Internal Revenue Code of 1986, as amended.

         2.5 "COMMISSION" means the United States Securities and Exchange
Commission or any successor agency.

         2.6 "COMMITTEE" means the Compensation Committee of the Board of
Directors or such other committee designated by the Board of Directors.

         2.7 "COMPANY" means BindView Development Corporation.

         2.8 "EMPLOYEE" means a person employed by the Company or any Affiliate
to whom an Option or a Stock Award is granted who is not covered under the terms
or limitations of Section 16b of the Exchange Act or any rules promulgated
thereunder. For purposes of the Plan, the term Employee shall also include any
independent contractors or consultants whose services are utilized by the
Company.

         2.9 "EXCHANGE ACT" means the Securities Exchange Act of 1934, as
amended from time.

         2.10 "FAIR MARKET VALUE" of the Stock as of any date means (a) the
closing sale price of the Stock on that date on the principal securities
exchange on which the Stock is listed; or (b) if the Stock is not listed on a
securities exchange, the closing sale price of the Stock on that date as
reported on the NASDAQ National Market System; or (c) if the Stock is not listed
on the NASDAQ National Market System, the closing bid quotation for the Stock on
that date as reported by the National Quotation Bureau Incorporated; or (d) if
none of the foregoing is applicable, an amount at the election of the Committee
equal to (x), the average between the closing bid and ask prices per share of
stock on the last preceding date on which those prices were reported or (y) that
amount as determined by the Committee.

         2.11 "MATURE SHARES"means shares of Stock that have been legally and
beneficially owned by the Optionee for at least six months.

         2.12 "OPTION" means a nonqualified stock option granted under this Plan
to purchase shares of Stock.

         2.13 "OPTION AGREEMENT" means the written agreement which sets out the
terms of an Option, as amended from time to time.

         2.14 "PLAN" means the Bindview Development Corporation 2000 Employee
Incentive Plan, as set out in this document and as it may be amended from time
to time.

         2.15 "PLAN YEAR" means the Company's fiscal year.

         2.16 "RESTRICTED STOCK" means Stock awarded or purchased under a
Restricted Stock Agreement entered into pursuant to this Plan, together with (i)
all rights, warranties or similar items attached or accruing thereto or
represented by the certificate representing the Stock and (ii) any stock or
securities into which or for which the Stock is thereafter converted or

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exchanged. The terms and conditions of the Restricted Stock Agreement shall be
determined by the Committee consistent with the terms of the Plan.

         2.17 "RESTRICTED STOCK AGREEMENT" means an agreement between the
Company or any Affiliate and the Employee pursuant to which the Employee
receives a Stock Award subject to Article VI.

         2.18 "RESTRICTED STOCK PURCHASE PRICE" means the purchase price, if
any, per share of Restricted Stock subject to an Award. The Restricted Stock
Purchase Price shall be determined by the Committee. It may be greater than or
less than the Fair Market Value of the Stock on the date of the Stock Award.

         2.19 "STOCK" means the common stock of the Company, no par value or, in
the event that the outstanding shares of common stock are later changed into or
exchanged for a different class of stock or securities of the Company or another
corporation, that other stock or security.

         2.20 "STOCK AWARD" means an award of Restricted Stock.

         2.21 "VOTING STOCK" means shares of the capital stock of the Company
the holders of which are entitled to vote for the election of directors, but
excluding shares entitled to so vote only upon the occurrence of a contingency
unless that contingency shall have occurred.

                                   ARTICLE III

                                   ELIGIBILITY

                  The individuals who shall be eligible to receive Options and
Stock Awards shall be those certain employees of the Company or any of its
Affiliates, as the Committee shall determine from time to time, who are not
covered under the terms and limitations of Section 16b of the Exchange Act or
any rules promulgated thereunder. The Board of Directors may designate one or
more individuals who shall not be eligible to receive any Option or Stock Award
under this Plan or under other similar plans of the Company.

                                   ARTICLE IV

             GENERAL PROVISIONS RELATING TO OPTIONS AND STOCK AWARDS

         4.1 AUTHORITY TO GRANT OPTIONS AND STOCK AWARDS. The Committee may
grant to those key Employees of the Company or any of its Affiliates, as it
shall from time to time determine, Options or Stock Awards under the terms and
conditions of this Plan. Subject only to any applicable limitations set out in
this Plan, the number of shares of Stock to be covered by any Option or Stock
Award to be granted to an Employee shall be as determined by the Committee.

         4.2 DEDICATED SHARES. The total number of shares of Stock with respect
to which Options and Stock Awards may be granted under the Plan shall be
4,400,000 shares. The shares

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may be treasury shares or authorized but unissued shares. The number of shares
stated in this Section 4.2 shall be subject to adjustment in accordance with the
provisions of Section 4.5.

                  In the event that any outstanding Option or Stock Award shall
expire or terminate for any reason or any Option or Stock Award is surrendered,
the shares of Stock allocable to the unexercised portion of that Option or Stock
Award may again be subject to an Option or Stock Award under the Plan. If Stock
is used by the Employee pursuant to Section 5.6 of this Plan to pay the exercise
price of an Option, only the net number of shares of Stock issued by the Company
shall be considered utilized under this Plan. If shares of Stock are withheld by
the Company to pay tax withholding due from the Employee, the number of such
shares withheld shall not be considered utilized under this Plan.

         4.3 NON-TRANSFERABILITY. Options shall not be transferable by the
Employee otherwise than by will or under the laws of descent and distribution,
and shall be exercisable, during the Employee's lifetime, only by him.
Restricted Stock shall be purchased by and/or become vested under a Restricted
Stock Agreement during the Employee's lifetime, only by him. Any attempt to
transfer a Stock Award other than under the terms of the Plan and the Restricted
Stock Agreement shall terminate the Stock Award and all rights of the Employee
to that Restricted Stock. Notwithstanding any provision in this Plan to the
contrary, an Employee may transfer any Option to an Immediate Family Member or
an entity controlled by the Employee or an Immediate Family Member, provided,
however, no further transfer shall be made except for a transfer back to such
Employee or such other transfer which may be approved by the President of the
Company. For this purpose "Immediate Family Member" means an Employee's
children, grandchildren or spouse, or a trust for the benefit of such Immediate
Family Members.

         4.4 REQUIREMENTS OF LAW. The Company shall not be required to sell or
issue any Stock under any Option or Stock Award if issuing that Stock would
constitute or result in a violation by the Employee or the Company of any
provision of any law, statute, or regulation of any governmental authority.
Specifically, in connection with any applicable statute or regulation relating
to the registration of securities, upon exercise of any Option or pursuant to
any Stock Award, the Company shall not be required to issue any Stock unless the
Committee has received evidence satisfactory to it to the effect that the holder
of that Option or Stock Award will not transfer the Stock except in accordance
with applicable law, including receipt of an opinion of counsel satisfactory to
the Company to the effect that any proposed transfer complies with applicable
law. The determination by the Board on this matter shall be final, binding and
conclusive. The Company may, but shall in no event be obligated to, register any
Stock covered by this Plan pursuant to applicable securities laws of any country
or any political subdivision. In the event the Stock issuable on exercise of an
Option or pursuant to a Stock Award is not registered, the Company may imprint
on the certificate evidencing the Stock any legend that counsel for the Company
considers necessary or advisable to comply with applicable law. The Company
shall not be obligated to take any other affirmative action in order to cause
the exercise of an Option or vesting under a Stock Award, or the issuance of
shares under either of them, to comply with any law or regulation of any
governmental authority.

         4.5 CHANGES IN THE COMPANY'S CAPITAL STRUCTURE. The existence of
outstanding Options or Stock Awards shall not affect in any way the right or
power of the Company or its stockholders to make or authorize any or all
adjustments, recapitalizations, reorganizations or

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other changes in the Company's capital structure or its business, or any merger
or consolidation of the Company, or any issue of bonds, debentures, preferred or
prior preference stock ahead of or affecting the Stock or its rights, or the
dissolution or liquidation of the Company, or any sale or transfer of all or any
part of its assets or business, or any other corporate act or proceeding,
whether of a similar character or otherwise.

                  If the Company shall effect a subdivision or consolidation of
shares or other capital readjustment, the payment of a stock dividend, or other
increase or reduction of the number of shares of the Stock outstanding, without
receiving compensation for it in money, services or property, then (a) the
number, class, and per share price of shares of Stock subject to outstanding
Options under this Plan shall be appropriately adjusted in such a manner as to
entitle an Employee to receive upon exercise of an Option, for the same
aggregate cash consideration, the equivalent total number and class of shares he
would have received had he exercised his Option in full immediately prior to the
event requiring the adjustment; and (b) the number and class of shares of Stock
then reserved to be issued under the Plan shall be adjusted by substituting for
the total number and class of shares of Stock then reserved, that number and
class of shares of Stock that would have been received by the owner of an equal
number of outstanding shares of each class of Stock as the result of the event
requiring the adjustment.

                  If while unexercised Options remain outstanding under the Plan
(i) the Company shall not be the surviving entity in any merger, consolidation
or other reorganization (or survives only as a subsidiary of an entity other
than an entity that was wholly-owned by the Company immediately prior to such
merger, consolidation or other reorganization), (ii) the Company sells, leases
or exchanges or agrees to sell, lease or exchange all or substantially all of
its assets to any other person or entity (other than an entity wholly-owned by
the Company), (iii) the Company is to be dissolved, or (iv) the Company is a
party to any other corporate transaction (as defined under Section 424(a) of the
Code and applicable Treasury Regulations) that is not described in clauses (i),
(ii) or (iii) of this sentence (each such event is referred to herein as a
"Corporate Change"), then (x) except as otherwise provided in an Option
Agreement or as a result of the Board's effectuation of one or more of the
alternatives described below, there shall be no acceleration of the time at
which any Option then outstanding may be exercised, and (y) no later than ten
(10) days after the approval by the stockholders of the Company of such
Corporate Change, the Board, acting in its sole and absolute discretion without
the consent or approval of any Optionee, shall act to effect one or more of the
following alternatives, which may vary among individual Optionees and which may
vary among Options held by any individual Optionee:

                  (1) accelerate the time at which some or all of the Options
         then outstanding may be exercised so that such Options may be exercised
         in full for a limited period of time on or before a specified date
         (before or after such Corporate Change) fixed by the Board, after which
         specified date all such Options that remain unexercised and all rights
         of Optionees thereunder shall terminate,

                  (2) require the mandatory surrender to the Company by all or
         selected Optionees of some or all of the then outstanding Options held
         by such Optionees (irrespective of whether such Options are then
         exercisable under the provisions of this Plan or the Option Agreements
         evidencing such Options) as of a date, before

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         or after such Corporate Change, specified by the Board, in which event
         the Board shall thereupon cancel such Options and the Company shall pay
         to each such Optionee an amount of cash per share equal to the excess,
         if any, of the per share price offered to stockholders of the Company
         in connection with such Corporate Change over the exercise price(s)
         under such Options for such shares,

                  (3) with respect to all or selected Optionees, have some or
         all of their then outstanding Options (whether vested or unvested)
         assumed or have a new Option substituted for some or all of their then
         outstanding Options (whether vested or unvested) by an entity which is
         a party to the transaction resulting in such Corporate Change and which
         is then employing him, or a parent or subsidiary of such entity,
         provided that (A) such assumption or substitution is on a basis where
         the excess of the aggregate fair market value of the shares subject to
         the Option immediately after the assumption or substitution over the
         aggregate exercise price of such shares is equal to the excess of the
         aggregate fair market value of all shares subject to the Option
         immediately before such assumption or substitution over the aggregate
         exercise price of such shares, and (B) the assumed rights under such
         existing Option or the substituted rights under such new Option as the
         case may be will have the same terms and conditions as the rights under
         the existing Option assumed or substituted for, as the case may be,

                  (4) provide that the number and class of shares of Stock
         covered by an Option (whether vested or unvested) theretofore granted
         shall be adjusted so that such Option when exercised shall thereafter
         cover the number and class of shares of stock or other securities or
         property (including, without limitation, cash) to which the Optionee
         would have been entitled pursuant to the terms of the agreement and/or
         plan relating to such Corporate Change if, immediately prior to such
         Corporate Change, the Optionee had been the holder of record of the
         number of shares of Stock then covered by such Option, or

                  (5) make such adjustments to Options then outstanding as the
         Board deems appropriate to reflect such Corporate Change (provided,
         however, that the Board may determine in its sole and absolute
         discretion that no such adjustment is necessary)."

                  In effecting one or more of alternatives (3), (4) or (5)
         above, and except as otherwise may be provided in an Option Agreement,
         the Board, in its sole and absolute discretion and without the consent
         or approval of any Optionee, may accelerate the time at which some or
         all Options then outstanding may be exercised.

                  In the event of changes in the outstanding Stock by reason of
recapitalizations, reorganizations, mergers, consolidations, combinations,
exchanges or other relevant changes in capitalization occurring after the date
of the grant of any Option and not otherwise provided for by this Section 4.5,
any outstanding Options and any agreements evidencing such Options shall be
subject to adjustment by the Board in its sole and absolute discretion as to the
number and price of shares of stock or other consideration subject to such
Options. In the event of any such

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change in the outstanding Stock, the aggregate number of shares available under
this Plan may be appropriately adjusted by the Board, whose determination shall
be conclusive.

                  After a merger of one or more corporations into the Company or
after a consolidation of the Company and one or more corporations in which the
Company shall be the surviving corporation, each Employee shall be entitled to
have his Restricted Stock appropriately adjusted based on the manner the Stock
was adjusted under the terms of the agreement of merger or consolidation.

                  The issue by the Company of shares of stock of any class, or
securities convertible into shares of stock of any class, for cash or property,
or for labor or services either upon direct sale or upon the exercise of rights
or warrants to subscribe for them, or upon conversion of shares or obligations
of the Company convertible into shares or other securities, shall not affect,
and no adjustment by reason of such issuance shall be made with respect to, the
number, class, or price of shares of Stock then subject to outstanding Options
or Stock Awards.

         4.6 ELECTION UNDER SECTION 83(b) OF THE CODE. No Employee shall
exercise the election permitted under Section 83(b) of the Code under this Plan
without written approval of the Committee.

                                    ARTICLE V

                                     OPTIONS

         5.1 OPTION PRICE. The price at which shares of Stock may be purchased
under an Option shall be the Fair Market Value of the shares of Stock on the
date the Option is granted, unless the Committee in its sole discretion provides
otherwise in the Option Agreement.

         5.2 DURATION OF OPTIONS. No Option shall be exercisable after the
expiration of 10 years from the date the Option is granted.

         5.3 AMOUNT EXERCISABLE. Each Option is exercisable, in whole or in
part, in the manner and subject to the conditions the Committee, in its sole
discretion, may provide in the Option Agreement, as long as the Option is valid
and outstanding.

         5.4 EXERCISE OF OPTIONS. Each Option shall be exercised by the delivery
of written notice to the Committee setting forth the number of shares of Stock
with respect to which the Option is to be exercised, together with: (a) cash,
certified check, bank draft, or postal or express money order payable to the
order of the Company for an amount equal to the option price of the shares, (b)
Mature Shares at their Fair Market Value on the date of exercise, (c) payment to
the Company, through a broker-assisted exercise that is approved by the
Committee, for an amount equal to the option price of the shares and the
Company's tax withholding obligation, if any, (d) any combination of (a), (b),
or (c), and/or (e) any other form of payment which is acceptable to the
Committee, and specifying the address to which the certificates for the shares
are to be mailed.

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                  As promptly as practicable after receipt of written
notification and payment, the Company shall deliver to the Employee certificates
for the number of shares with respect to which the Option has been exercised,
issued in the Employee's name. If Mature Shares are used in payment, the
aggregate Fair Market Value of the Mature Shares tendered must be equal to or
less than the aggregate exercise price of the shares being purchased upon
exercise of the Option, and any difference must be paid by cash, certified
check, bank draft, or postal or express money order payable to the order of the
Company. Delivery of the shares shall be deemed effected for all purposes when a
stock transfer agent of the Company shall have deposited the certificates in the
United States mail, addressed to the Employee, at the address specified by the
Employee.

                  Whenever an Option is exercised by exchanging Mature Shares
owned by the Employee, the Employee shall deliver to the Company certificates
registered in the name of the Employee representing a number of Mature Shares
legally and beneficially owned by the Employee, free of all liens, claims, and
encumbrances of every kind, accompanied by stock powers duly endorsed in blank
by the record holder of the shares represented by the certificates (with
signature guaranteed by a commercial bank or trust company or by a brokerage
firm having a membership on a registered national stock exchange). The delivery
of certificates upon the exercise of Options is subject to the condition that
the person exercising the Option provide the Company with the information the
Company might reasonably request pertaining to exercise, sale or other
disposition. The Committee may provide that a legend or restriction be printed
on the certificate as the Committee determines is necessary, in its discretion,
to comply with applicable laws.

                  If Mature Shares are used in payment, the aggregate Fair
Market Value of the Mature Shares tendered must be equal to or less than the
aggregate exercise price of the Shares being purchased upon exercise of the
Option, and any difference must be paid by cash, certified check, bank draft, or
postal or express money order payable to the order of the Company. Delivery of
the Common Stock issued on exercise shall be deemed effective for all purposes
when a stock transfer agent of the Company shall have deposited the certificates
in the United States mail, addressed to the Optionee, at the address specified
by the Optionee.

                  Notwithstanding the foregoing, an Optionee may elect, subject
to the approval of the Committee, to satisfy any required income tax withholding
obligation, in whole or in part, by having the Company withhold whole shares of
Common Stock, which otherwise would be issued on exercise, having a Fair Market
Value not in excess of the amount of the Company's minimum tax withholding
obligation.

                  Notwithstanding any other provision of the Plan, the Committee
shall have the authority to cause an Optionee to utilize a different method of
exercise if the method selected by the Optionee could result in adverse
accounting treatment for the Company.

         5.5 EXERCISE ON TERMINATION OF EMPLOYMENT. Unless it is expressly
provided otherwise in the Option Agreement, Options shall terminate one day less
than three months after severance of employment of the Employee from the Company
and all Affiliates for any reason, with or without cause, other than death,
retirement under the then established rules of the Company, or severance for
disability. Whether authorized leave of absence or absence on

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military or government service shall constitute severance of the employment of
the Employee shall be determined by the Committee at that time.

                  In determining the employment relationship between the Company
and the Employee, employment by any Affiliate shall be considered employment by
the Company, as shall employment by a corporation issuing or assuming a stock
option in a transaction to which Section 424(a) of the Code applies, or by a
parent corporation or subsidiary corporation of the corporation issuing or
assuming a stock option (and for this purpose, the phrase "corporation issuing
or assuming a stock option" shall be substituted for the word "Company" in the
definitions of parent corporation and subsidiary corporation in Section 2.1, and
the parent-subsidiary relationship shall be determined at the time of the
corporate action described in Section 424(a) of the Code).

                  DEATH. If, before the expiration of an Option, the Employee,
whether in the employ of the Company or after he has retired or was severed for
disability, dies, the Option shall become fully vested and shall continue until
the earlier of the Option's expiration date or one year following the date of
his death, unless it is expressly provided otherwise in the Option Agreement.
After the death of the Employee, his executors, administrators or any persons to
whom his Option may be transferred by will or by the laws of descent and
distribution shall have the right, at any time prior to the Option's expiration
or termination, whichever is earlier, to exercise the Option in full unless it
is expressly provided otherwise in the Option Agreement.

                  RETIREMENT. Unless it is expressly provided otherwise in the
Option Agreement, if before the expiration of an Option, the Employee shall be
retired in good standing from the employ of the Company under the then
established rules of the Company, the Option shall terminate on the earlier of
the Option's expiration date or one year after his retirement. In the event of
retirement, the Employee shall have the right prior to the termination of the
Option to exercise the Option, to the extent to which he was entitled to
exercise it immediately prior to his retirement, unless it is expressly provided
otherwise in the Option Agreement.

                  DISABILITY. If, before the expiration of an Option, the
Employee shall be severed from the employ of the Company for disability, the
Option shall terminate on the earlier of the Option's expiration date or one
year after the date he was severed because of disability, unless it is expressly
provided otherwise in the Option Agreement. In the event that the Employee shall
be severed from the employ of the Company for disability, the Employee shall
become fully vested in his Option and have the right prior to the termination of
the Option to exercise the Option in full unless it is expressly provided
otherwise in the Option Agreement.

                  Notwithstanding the above, an Option may be amended by the
Committee to extend the termination date of the Option, provided such extension
shall not exceed a period of 10 years from the date of the initial grant of the
Option.

         5.6 SUBSTITUTION OPTIONS. Options may be granted under this Plan from
time to time in substitution for stock options held by employees of other
corporations who are about to become employees of or affiliated with the Company
or any Affiliate as the result of a merger or consolidation of the employing
corporation with the Company or any Affiliate, or the acquisition by the Company
or any Affiliate of the assets of the employing corporation, or the acquisition
by

                                      -10-
<PAGE>

the Company or any Affiliate of stock of the employing corporation as the result
of which it becomes an Affiliate of the Company. The terms and conditions of the
substitute Options granted may vary from the terms and conditions set out in
this Plan to the extent the Committee, at the time of grant, may deem
appropriate to conform, in whole or in part, to the provisions of the stock
options in substitution for which they are granted.

         5.7 NO RIGHTS AS STOCKHOLDER. No Employee shall have any rights as a
stockholder with respect to Stock covered by his Option until the date a stock
certificate is issued for the Stock.

                                   ARTICLE VI

                                  STOCK AWARDS

         6.1 STOCK AWARDS. The Committee may issue shares of Restricted Stock to
an eligible employee subject to the terms of a Restricted Stock Agreement. The
Restricted Stock may be issued for no payment by the Employee or for a payment
below the Fair Market Value on the date of grant. Restricted Stock shall be
subject to restrictions as to sale, transfer, alienation, pledge or other
encumbrance and generally will be subject to vesting over a period of time
specified in the Restricted Stock Agreement. The Committee shall determine the
period of vesting, the number of shares, the price, if any, of Stock included in
a Stock Award, and the other terms and provisions which are included in a
Restricted Stock Agreement. In the discretion of the Committee, a Restricted
Stock Award may be made as a grant of Restricted Stock or as a right to receive
stock (or their cash equivalent or a combination of both) in the future.

         6.2 RESTRICTIONS. Restricted Stock shall be subject to the terms and
conditions as determined by the Committee, including without limitation any or
all of the following:

                  (a) a prohibition against the sale, transfer, alienation,
pledge or other encumbrance of the shares of Restricted Stock, such prohibition
to lapse at such time or times as the Committee shall determine (whether in
annual or more frequent installments, at the time of the death, disability or
retirement of the holder of such shares, or otherwise);

                  (b) a requirement that the holder of shares of Restricted
Stock forfeit, or in the case of shares sold to an Employee, resell back to the
Company at his cost, all or a part of such shares in the event of termination of
the holder's employment during any period in which the shares remain subject to
restrictions;

                  (c) a prohibition against employment of the holder of
Restricted Stock by any competitor of the Company or its Affiliates, or against
such holder's dissemination of any secret or confidential information belonging
to the Company or an Affiliate;

                  (d) unless stated otherwise in the Restricted Stock Agreement,
(i) if restrictions remain at the time of severance of employment with the
Company and all Affiliates, other than for reason of disability or death, the
Restricted Stock shall be forfeited; and (ii) if severance of employment is by
reason of disability or death, the restrictions on the shares shall

                                      -11-
<PAGE>

lapse and the Employee or his heirs or estate shall be 100% vested in the shares
subject to the Restricted Stock Agreement.

         Notwithstanding (a) above, an Employee may transfer Restricted Stock to
an Immediate Family Member (as defined in Section 4.3) or an entity controlled
by the Employee or an Immediate Family Member provided, however, no further
transfer shall be made except for a transfer back to such Employee or such other
transfer which may be approved by the President of the Company. For this
purpose, "Immediate Family Member" means an Employee's children, grandchildren
or spouse, or a trust for the benefit of such Immediate Family Member.

         6.3 STOCK CERTIFICATE. Shares of Restricted Stock shall be registered
in the name of the Employee receiving the Stock Award and deposited, together
with a stock power endorsed in blank, with the Company. Each such certificate
shall bear a legend in substantially the following form:

         The transferability of this certificate and the shares of Stock
         represented by it is restricted by and subject to the terms and
         conditions (including conditions of forfeiture) contained in the
         Bindview Development Corporation 2000 Employee Incentive Plan, and an
         agreement entered into between the registered owner and the Company,
         including any shareholders agreement. A copy of the Plan and agreement
         is on file in the office of the Secretary of the Company.

         6.4 RIGHTS AS STOCKHOLDER. Subject to the terms and conditions of the
Plan, each Employee receiving a certificate for Restricted Stock shall have all
the rights of a stockholder with respect to the shares of Stock included in the
Stock Award during any period in which such shares are subject to forfeiture and
restrictions on transfer, including without limitation, the right to vote such
shares. Dividends paid with respect to shares of Restricted Stock in cash or
property other than stock in the Company or rights to acquire stock in the
Company shall be paid to the Employee currently. Dividends paid in stock in the
Company or rights to acquire stock in the Company shall be added to and become a
part of the Restricted Stock.

         6.5 LAPSE OF RESTRICTIONS. At the end of the time period during which
any shares of Restricted Stock are subject to forfeiture and restrictions on
sale, transfer, alienation, pledge, or other encumbrance, such shares shall vest
and will be delivered in a certificate, free of all restrictions, to the
Employee or to the Employee's legal representative, beneficiary or heir;
provided the certificate shall bear such legend, if any, as the Committee
determines is reasonably required by applicable law. By accepting a Stock Award
and executing a Restricted Stock Agreement, the Employee agrees to remit when
due any federal and state income and employment taxes required to be withheld.

         6.6 RESTRICTION PERIOD. No Stock Award may provide for restrictions
continuing beyond 10 years from the date of the Stock Award.

                                      -12-
<PAGE>

                                   ARTICLE VII

                                 ADMINISTRATION

                  This Plan shall be administered by the Committee. All
questions of interpretation and application of the Plan, Options or Stock Awards
shall be subject to the determination of the Committee. A majority of the
members of the Committee shall constitute a quorum. All determinations of the
Committee shall be made by a majority of its members. Any decision or
determination reduced to writing and signed by a majority of the members shall
be as effective as if it had been made by a majority vote at a meeting properly
called and held. This Plan shall be administered in such a manner as to permit
the Options granted under it which are designated to be Incentive Options to
qualify as Incentive Options. In carrying out its authority under this Plan, the
Committee shall have full and final authority and discretion, including but not
limited to the following rights, powers and authorities, to:

         (a) determine the Employees to whom and the time or times at which
Options or Stock Awards will be made,

         (b) determine the number of shares and the purchase price of Stock
covered in each Option or Stock Award, subject to the terms of the Plan,

         (c) determine the terms, provisions and conditions of each Option and
Stock Award, which need not be identical,

         (d) accelerate the time at which any outstanding Option may be
exercised,

         (e) define the effect, if any, on an Option or Stock Award of the
death, disability, retirement, or termination of employment of the Employee,

         (f) prescribe, amend and rescind rules and regulations relating to
administration of the Plan, and

         (g) make all other determinations and take all other actions deemed
necessary, appropriate, or advisable for the proper administration of this Plan.

The actions of the Committee in exercising all of the rights, powers, and
authorities set out in this Article and all other Articles of this Plan, when
performed in good faith and in its sole judgment, shall be final, conclusive and
binding on all parties.

                                  ARTICLE VIII

                        AMENDMENT OR TERMINATION OF PLAN

                  The Board of Directors of the Company may amend, terminate or
suspend this Plan at any time, in its sole and absolute discretion. The Board
shall have the power to make any changes in the Plan and in the regulations and
administrative provisions under it as in the opinion of counsel for the Company
may be necessary or appropriate from time to time.

                                      -13-
<PAGE>

                                   ARTICLE IX

                                  MISCELLANEOUS

         9.1 NO ESTABLISHMENT OF A TRUST FUND. No property shall be set aside
nor shall a trust fund of any kind be established to secure the rights of any
Employee under this Plan. All Employees shall at all times rely solely upon the
general credit of the Company for the payment of any benefit which becomes
payable under this Plan.

         9.2 NO EMPLOYMENT OBLIGATION. The granting of any Option or Stock Award
shall not constitute an employment contract, express or implied, nor impose upon
the Company or any Affiliate any obligation to employ or continue to employ any
Employee. The right of the Company or any Affiliate to terminate the employment
of any person shall not be diminished or affected by reason of the fact that an
Option or Stock Award has been granted to him.

         9.3 FORFEITURE. Notwithstanding any other provisions of this Plan, if
the Committee finds by a majority vote after full consideration of the facts
that the Employee, before or after termination of his employment with the
Company or an Affiliate for any reason (a) committed or engaged in fraud,
embezzlement, theft, commission of a felony, or proven dishonesty in the course
of his employment by the Company or an Affiliate, which conduct damaged the
Company or Affiliate, or disclosed trade secrets of the Company or an Affiliate,
or (b) participated, engaged in or had a material, financial or other interest,
whether as an employee, officer, director, consultant, contractor, stockholder,
owner, or otherwise, in any commercial endeavor which is competitive with the
business of the Company or an Affiliate without the written consent of the
Company or Affiliate, the Employee shall forfeit all outstanding Options and all
outstanding Restricted Stock, and including all exercised Options and other
situations pursuant to which the Company has not yet delivered a stock
certificate. Clause (b) shall not be deemed to have been violated solely by
reason of the Employee's ownership of stock or securities of any publicly owned
corporation, if that ownership does not result in effective control of the
corporation.

                  The decision of the Committee as to the cause of the
Employee's discharge, the damage done to the Company or an Affiliate, and the
extent of the Employee's competitive activity shall be final. No decision of the
Committee, however, shall affect the finality of the discharge of the Employee
by the Company or an Affiliate in any manner.

         9.4 TAX WITHHOLDING. The Company or any Affiliate shall be entitled to
deduct from other compensation payable to each Employee any sums required by
federal, state, or local tax law to be withheld with respect to the grant or
exercise of an Option or lapse of restrictions on Restricted Stock. In the
alternative, the Company may require the Employee (or other person exercising
the Option or receiving the Restricted Stock) to pay the sum directly to the
employer corporation. If the Employee (or other person exercising the Option or
receiving the Restricted Stock) is required to pay the sum directly, payment in
cash or by check of such sums for taxes shall be delivered within 10 days after
the date of exercise or lapse of restrictions. The Company shall have no
obligation upon exercise of any Option or lapse of restrictions on Restricted
Stock until payment has been received, unless withholding (or offset against a
cash payment) as of or

                                      -14-
<PAGE>

prior to the date of exercise or lapse of restrictions is sufficient to cover
all sums due with respect to that exercise. The Company and its Affiliates shall
not be obligated to advise an Employee of the existence of the tax or the amount
which the employer corporation will be required to withhold.

         9.5 WRITTEN AGREEMENT. Each Option and Stock Award shall be embodied in
a written Option Agreement or Restricted Stock Agreement which shall be subject
to the terms and conditions of this Plan and shall be signed by the Employee and
by a member of the Committee on behalf of the Board and the Company or an
executive officer of the Company other than the Employee on behalf of the
Company. The Option Agreement or Restricted Stock Agreement may contain any
other provisions that the Committee in its discretion shall deem advisable which
are not inconsistent with the terms of this Plan. This Plan and all shares of
stock or stock equivalents granted pursuant hereto shall be subject to the terms
of any shareholders agreement entered into by the Company concurrent, or prior
to, the grant of any Option hereunder.

         9.6 INDEMNIFICATION OF THE COMMITTEE AND THE BOARD OF DIRECTORS. With
respect to administration of this Plan, the Company shall indemnify each present
and future member of the Committee and the Board of Directors against, and each
member of the Committee and the Board of Directors shall be entitled without
further act on his part to indemnity from the Company for, all expenses
(including attorney's fees, the amount of judgments and the amount of approved
settlements made with a view to the curtailment of costs of litigation, other
than amounts paid to the Company itself) reasonably incurred by him in
connection with or arising out of any action, suit, or proceeding in which he
may be involved by reason of his being or having been a member of the Committee
and/or the Board of Directors, whether or not he continues to be a member of the
Committee and/or the Board of Directors at the time of incurring the expenses --
including, without limitation, matters as to which he shall be finally adjudged
in any action, suit or proceeding to have been found to have been negligent in
the performance of his duty as a member of the Committee or the Board of
Directors. However, this indemnity shall not include any expenses incurred by
any member of the Committee and/or the Board of Directors in respect of matters
as to which he shall be finally adjudged in any action, suit or proceeding to
have been guilty of gross negligence or willful misconduct in the performance of
his duty as a member of the Committee and the Board of Directors. In addition,
no right of indemnification under this Plan shall be available to or enforceable
by any member of the Committee and the Board of Directors unless, within 60 days
after institution of any action, suit or proceeding, he shall have offered the
Company, in writing, the opportunity to handle and defend same at its own
expense. This right of indemnification shall inure to the benefit of the heirs,
executors or administrators of each member of the Committee and the Board of
Directors and shall be in addition to all other rights to which a member of the
Committee and the Board of Directors may be entitled as a matter of law,
contract, or otherwise.

         9.7 GENDER. If the context requires, words of one gender when used in
this Plan shall include the others and words used in the singular or plural
shall include the other.

         9.8 HEADINGS. Headings of Articles and Sections are included for
convenience of reference only and do not constitute part of the Plan and shall
not be used in construing the terms of the Plan.

                                      -15-
<PAGE>

         9.9 OTHER COMPENSATION PLANS. The adoption of this Plan shall not
affect any other stock option, incentive or other compensation or benefit plans
in effect for the Company or any Affiliate, nor shall the Plan preclude the
Company from establishing any other forms of incentive or other compensation for
employees of the Company or any Affiliate.

         9.10 OTHER OPTIONS OR AWARDS. The grant of an Option or Stock Award
shall not confer upon the Employee the right to receive any future or other
Options or Stock Awards under this Plan, whether or not Options or Stock Awards
may be granted to similarly situated Employees, or the right to receive future
Options or Stock Awards upon the same terms or conditions as previously granted.

         9.11 GOVERNING LAW. The provisions of this Plan shall be construed,
administered, and governed under the laws of the State of Texas.

         9.12 NONQUALIFIED OPTIONS. All Options granted under the terms of the
Plan shall be nonqualified stock options which are not intended to be governed
by Section 422 of the Code.

                                      -16-<PAGE>
                                                                  EXHIBIT 10.45

                                                    EXECUTIVE:  ERIC J. PULASKI

                              BINDVIEW CORPORATION

                         EXECUTIVE EMPLOYMENT AGREEMENT

THIS EXECUTIVE EMPLOYMENT AGREEMENT (this "AGREEMENT") is made between BindView
Development Corporation, a Texas corporation (the "COMPANY"), and the
"EXECUTIVE" identified above. Unless otherwise indicated, all references to
Sections are to Sections in this Agreement. This Agreement, when executed by
both the Executive and the Company, is effective as of the date executed by the
Executive as written on the signature page ("EFFECTIVE DATE"). This Agreement
replaces and supersedes any and all prior employment agreements between the
Company and the Executive, but does not supersede or replace stock-option
agreements, Benefit-related agreements, and the like. 1. BACKGROUND.

1.1    The Executive currently holds a senior executive position with the
       Company. As a result, the Executive has significant responsibility for
       the Company's management, profitability and growth. Likewise, the
       Executive possesses an intimate knowledge of the Company's business and
       affairs, including its policies, plans, methods, personnel,
       opportunities, and challenges.

1.2    The Compensation Committee of the Company's Board of Directors (the
       "Board") considers the continued employment of the Executive to be in the
       best interests of the Company and its shareholders. The Compensation
       Committee desires to structure the Executive's compensation to encourage
       the Executive to remain in service to the Company, in part by providing
       for certain severance benefits if the Executive's employment ends in
       certain specified ways.

2.     DEFINITIONS. For purposes of this Agreement, the following terms have
       the meanings set forth below. Other defined terms have the meanings set
       forth in the provisions of this Agreement in which they are used.

2.1    BASE SALARY - see Section 4.1.

2.2    BENEFIT means any Company- provided or -sponsored pension plan, 401k
       plan, insurance plan, employee stock purchase plan, or other employee
       benefit plan, program or arrangement, made available to the Company's
       employees generally.

2.3    BINDVIEW BUSINESS is intentionally defined broadly in view of the
       Executive's senior position with the Company; it means (1) any business
       engaged in by the Company or any other BindView Company during the
       Executive's Employment, or (2) any other business as to which the Company
       or any other BindView Company has made demonstrable preparation to engage
       in during such Employment and (i) in which preparation the Executive
       materially participated, or (ii) concerning which preparation the
       Executive had access to Confidential Information.

2.4    BINDVIEW COMPANY or BINDVIEW COMPANIES means BindView and its affiliates.
       For purposes of this Agreement, (i) an affiliate of a Person is defined
       as any other Person that controls or is controlled by or is under common
       control with that Person, and (ii) control is defined as the direct or
       indirect ownership of at least fifty percent (50%) of the equity or
       beneficial interest in such Person

<PAGE>

                                                    EXECUTIVE:  ERIC J. PULASKI

       or the right to vote for or appoint a majority of the board of directors
       or other governing body of such Person.

2.5    BINDVIEW INVENTION means any Invention that is made, conceived, or
       reduced to practice by any person (in whole or in part, either alone or
       jointly with others, whether or not during regular working hours),
       whether or not potentially patentable or copyrightable in the U.S. or
       elsewhere, and the Invention either: (i) involves equipment, supplies,
       facilities, or trade secret information of any BindView Company; (ii)
       involves the time for which the person was compensated by any BindView
       Company; (iii) relates to any BindView Business; or (iv) results, in
       whole or in part, from work which the person performed for any BindView
       Company.

2.6    BINDVIEW MATERIALS means any and all reports, notes, emails, manuals,
       computer programs or data, photographs, and all other recorded, written,
       or printed matter, in any format (including but not limited to electronic
       and hard-copy formats), (i) that the Executive receives from any BindView
       Company, or (ii) that the Executive creates during the Employment and
       that relate to any BindView Business, or (iii) that contain Confidential
       Information of any BindView Company.

2.7    BONUS POTENTIAL AT TARGET means the bonus amount that would be earned by
       the Executive under the Corporate Bonus Plan if On-Target Performance has
       been achieved. The Executive's current Bonus Potential At Target is set
       forth in Schedule 1. Such bonus amount shall be automatically increased
       by the same percentage as any increase in Base Salary (see also Section
       4.1), as well as any other increases in such bonus amount that the
       Company, in its sole discretion, may grant in the future. If such bonus
       amount is increased at any time, then the resulting increased bonus
       amount shall be deemed the Bonus Potential At Target for all purposes
       hereunder.

2.8    BONUS POTENTIAL EARNED means the amount of the Executive's Bonus
       Potential At Target that was earned during the bonus period in question.
       The amount earned will be equal to the Percent of Bonus Potential at
       Target Earned (as that term is used in the Corporate Bonus Plan) during
       the bonus period that corresponds to actual performance during that
       period, multiplied by the Executive's Bonus Potential At Target. The
       amount earned will be prorated for any bonus period the Executive was not
       employed by the Company for the entire bonus period based on the portion
       of the bonus period the Executive was employed by the Company. In no
       event will any portion of the Bonus Potential At Target be deemed to have
       been earned by the Executive if the Executive resigns other than for Good
       Reason or if the Employment is terminated for Cause.

2.9    CAUSE:  As used in this Agreement:

       (a) The term "Cause" or "for cause" or "with cause" (in upper or lower
           case) means only any one or more of the following except as excluded
           by subparagraph (b): (1) the Executive's conviction of a felony; (2)
           the Executive's willful, material and irreparable breach of this
           Agreement (other than for reason of illness or disability); (3) the
           Executive's gross negligence in the performance of, or intentional
           nonperformance of or inattention to, the Executive's material duties
           and responsibilities hereunder, continuing for thirty (30) days after
           receipt of written notice of need to cure the same; or (4) the
           Executive's willful dishonesty, fraud or material misconduct with
           respect to the business or affairs of the Company.

                                                                         Page 2

<PAGE>

                                                    EXECUTIVE:  ERIC J. PULASKI

       (b) The terms "Cause," "for cause," and "with cause" (in upper or lower
           case) shall not include any of the following: (1) bad judgment; (2)
           negligence other than gross negligence; (3) any act or omission that
           was based upon (i) authority given pursuant to a resolution duly
           adopted by the Board, (ii) instructions of the chief executive
           officer of the Company or (iii) the advice of counsel for the
           Company; or (4) any act or omission that the Executive believed in
           good faith to have been in the interest of the Company, without
           intent of the Executive to gain therefrom, directly or indirectly, a
           personal profit to which he was not legally entitled.

2.10   COBRA means the Consolidated Omnibus Budget Reconciliation Act, as the
       same may be amended from time to time, or any successor statute, together
       with any applicable regulations in effect at the time in question.

2.11   CONFIDENTIAL INFORMATION means information of any BindView Business that
       the Executive learns in the course of the Employment, other than
       information which the Executive can show: (i) was in the Executive's
       possession or within the Executive's knowledge before the Employment; or
       (ii) is or becomes generally known to persons who could take economic
       advantage of it, other than officers, directors, and employees of the
       BindView Companies, without breach of an obligation to a BindView
       Company; or (iii) the Executive obtained from a party having the right to
       disclose it without violation of an obligation to a BindView Company; or
       (iv) is required to be disclosed pursuant to legal process (e.g., a
       subpoena), provided that the Executive notifies the Company immediately
       upon receiving or becoming aware of the legal process in question. No
       combination of information will be deemed to be within any of the four
       exceptions (i) through (iv) in the previous sentence, however, whether or
       not the component parts of the combination are within one or more
       exceptions, unless the combination itself and its economic value and
       principles of operation are themselves within such an exception.

2.12   CORPORATE BONUS PLAN refers to the plan that provides for incentive-based
       annual corporate bonuses for all Company employees other than those paid
       sales commissions, or such other bonus plan as the Company may from time
       to time adopt in its sole discretion, for providing such incentive-based
       annual bonuses. The Corporate Bonus Plan shall establish the bonus levels
       by employee group and the Company- and employee-performance criteria
       required for specified bonus payment percentages to be earned. Any such
       employee-performance criteria which the Company makes applicable to the
       Executive shall be consistent with the Executive's Office and Position.

2.13   DAY, in upper or lower case, means a calendar day except as otherwise
       stated.

2.14   DESIGNATED OWNER means (i) the Company or (ii) if from time to time the
       Company designates one or more other BindView Companies to own certain
       inventions or other intellectual-property rights, such designated other
       BindView Company.

2.15   DISABILITY shall mean the inability of the Executive to perform his
       duties hereunder for a continuous period exceeding three months
       (excluding any leaves of absences approved by the Company), as a result
       of incapacity due to mental or physical injury or illness that is
       determined to be total and permanent by a physician selected by the
       Company or its insurers and acceptable to the Executive or the
       Executive's legal representative.

                                                                         Page 3

<PAGE>

                                                    EXECUTIVE:  ERIC J. PULASKI

2.16     EMPLOYMENT  means the Executive's employment with the Company.

2.17   GOOD REASON means the occurrence of any one or more of the following
       events without the Executive's express prior written consent (see also
       the notice-and-cure provision in the definition of Resignation for Good
       Reason):

       (a) (1) removal of the Executive from the Office or Position, or (if
           re-election is required for the Executive to retain the Office or
           Position) failure to re-elect the Executive to the Office or
           Position; or (2) a material diminution in the Executive's Office,
           Position, status, duties, or responsibility from that held by the
           Executive immediately prior to such change; or (3) the assignment by
           the Company to the Executive of duties that are materially
           inconsistent with the Executive's Office or Position;

       (b) (1) the Company's requiring the Executive to perform a majority of
           his duties or to be permanently based outside of, or the moving of
           the Executive's principal office space from, the Company's Principal
           Operating Offices; or (2) the Company's requiring the Executive to be
           permanently based (meaning requiring the Executive to perform a
           majority of his duties for a period of more than 30 days) anywhere
           other than within 50 miles of the Executive's job location at the
           time that the directive for such relocation is made by the Company;

       (c) any Reduction in the Executive's Base Salary (except as provided in
           the next sentence), Bonus Potential At Target, or other compensation
           (including without limitation any Reduction of any non-contingent
           bonus- or incentive compensation for which the Executive is
           eligible). Notwithstanding the previous sentence, the Executive's
           Base Salary may be reduced by the Company one time during the
           Employment, if, and on condition that, such reduction is part of a
           uniform, across-the-board base salary reduction in which the same
           percentage reduction is applied to all Senior Executives;

       (d) failure to provide the Executive with any Benefit for which the
           Executive is eligible under the Benefit plan's requirements (and, if
           such Benefit in question is optional, which the Executive has elected
           to receive);

       (e) any failure of the Company to fulfill its obligations under this
           Agreement or under any stock or stock option agreement, change of
           control agreement, bonus, benefit or incentive plan or other
           agreement between the Executive and the Company (see also the
           notice-and-cure provision in the definition of Resignation for Good
           Reason);

       (f) failure of the Company to provide or maintain a Corporate Bonus Plan
           whereby the Executive may earn a bonus as set forth in Section 4.2;
           or

       (g) any purported termination by the Company of the Employment other than
           as expressly permitted by this Agreement.

2.18   INVENTION means any and all inventions, discoveries, and improvements,
       whether or not patentable, along with any and all materials and work
       product relating thereto.

                                                                         Page 4

<PAGE>

                                                    EXECUTIVE:  ERIC J. PULASKI

2.19   OFFICE means the office in the Company set forth in Schedule 1. If the
       Company in its sole discretion promotes the Executive to a more senior
       office in the Company (e.g., vice president to senior vice president),
       then the such more senior office shall be deemed the Office for all
       purposes hereunder.

2.20   ON-TARGET PERFORMANCE means the point at which the requirements under the
       Corporate Bonus Plan necessary for a full payout of the Bonus Potential
       at Target have been achieved. The Company performance requirements
       necessary for a full payout will be the same for all employees
       participating in the Corporate Bonus Plan.

2.21   PERSON means a natural person, corporation, partnership, or other legal
       entity, or a joint venture of two or more of the foregoing.

2.22   POSITION means the area of responsibility so identified in Schedule 1. If
       the Company in its sole discretion increases the Executive's area of
       responsibility, then such increased area of responsibility shall be
       deemed the Position for all purposes hereunder.

2.23   PRINCIPAL OPERATING OFFICES means the office of the Company where the
       majority of the other most senior executives of the Company perform the
       majority of their respective duties.

2.24   REDUCTION, as applied to any aspect of the Executive's compensation or
       benefits, means any exclusion, discontinuance without comparable
       replacement, diminution, or reduction in the same as in effect
       immediately prior to such exclusion, discontinuance, diminution, or
       reduction.

2.25   RESIGN FOR GOOD REASON or Resignation for Good Reason means that all of
       the following occur:

       (a) the Executive notifies the Company in writing, or the Company
           notifies the Employee in writing, in accordance with the notice
           provisions of this Agreement or otherwise, of the occurrence of one
           or more events constituting Good Reason hereunder;

       (b) the Company fails to revoke, rescind, cancel, or cure the event (or
           if more than one, all such events) that was the subject of the
           notification under subparagraph (a) within 10 business days after
           such notice; and

       (c) within ten (10) business days after the end of the ten-business-day
           period described in subparagraph (b), the Executive delivers to the
           Company a notice of resignation in accordance with this Agreement.

2.26   SCHEDULE 1 means Schedule 1 set forth at the end of this Agreement
       above the parties' signatures.

2.27   SENIOR EXECUTIVES means the executives of the Company holding the
       following positions, by whatever title designated, and no others: chief
       executive officer; chief financial officer; chief technology officer;
       senior vice president of business development; senior vice president of
       worldwide marketing; vice president of worldwide sales; general
       counsel; and chief accounting officer.

2.28   SEVERANCE BENEFITS means the post-employment compensation and benefits to
       be provided to the Executive by the Company in as set forth in Section 6.

2.29   SEVERANCE PAYMENT - see Section 6.1.

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2.30   TERMINATION DATE means the effective date of a termination of the
       Employment by either the Company or the Executive.

2.31   TRIBUNAL means an arbitration panel, court, or other body of competent
       jurisdiction that is deciding a matter relating to this Agreement.

3.     EMPLOYMENT.

3.1    Position; Office. Subject to the terms and conditions hereinafter set
       forth, the Company hereby agrees to employ the Executive, and the
       Executive hereby agrees to serve the Company, in the Office and Position
       referred to in Schedule 1.

       (a) The Executive will (i) devote his full time, attention, and energies
           to the business of the Company and will diligently and to the best of
           his ability perform all duties incident to his Employment hereunder;
           (ii) use his best efforts to promote the interests and goodwill of
           the Company; (iii) perform such other duties commensurate with the
           Office and Position as the Chief Executive Officer of the Company may
           from time-to-time assign to the Executive.

       (b) This Section 3.1 shall not be construed as preventing the Executive
           from (i) serving on corporate, civic or charitable boards or
           committees (only with the prior approval of the chief executive
           officer of the Company in the case of corporate boards), (ii)
           engaging in other business activities that do not represent a
           conflict of interest with the full execution of his duties to the
           Company, or (iii) making investments in other businesses or
           enterprises; provided that in no event shall any -------- such
           service, business activity or investment require the provision of
           substantial services by the Executive to the operations or the
           affairs of such businesses or enterprises such that the provision
           thereof would interfere in any respect with the performance of the
           Executive's duties hereunder.

3.2    Office Space, Equipment, etc. The Company shall provide the Executive
       with office space, related facilities, equipment, and support personnel
       that are commensurate with the Office and Position.

3.3      Expense Reimbursement.

       (a) The Company will timely reimburse the Executive for reasonable
           business expenses incurred by the Executive in connection with the
           Employment in accordance with the Company's then-current policies.

       (b) Without limiting Section 2.17(b) (Good Reason includes relocation
           without consent), or this Section 3.3, if the Company determines that
           the Executive shall be relocated, then the Company shall, in
           connection with such relocation, pay or reimburse the Executive for
           all reasonable moving expenses incurred by the Executive.

4.     COMPENSATION AND BENEFITS DURING EMPLOYMENT.  During the Employment, the
       Company shall provide compensation and benefits to the Executive as
       follows.

4.1    Base Salary. The Company shall pay the Executive a base salary at a rate
       (before deductions, e.g., for employee-paid insurance premiums;
       deferrals, e.g., for flex-plan contributions; or withholding)

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                                                    EXECUTIVE:  ERIC J. PULASKI

       not less than the Base Salary rate set forth in Schedule 1. If the
       Company in its sole discretion increases the Executive's base salary,
       then such increased salary shall be deemed the Base Salary for all
       purposes hereunder. All salary payments shall be made in accordance with
       the normal payroll practices of the Company but in no less than equal
       semi-monthly installments, less withholding or deductions required by law
       or agreed to by the Executive.

4.2    Annual Bonus. In addition to the Base Salary, the Executive will
       participate in the Company's Corporate Bonus Plan. Executive will be paid
       his Bonus Potential Earned pursuant to terms of the Corporate Bonus Plan
       based on his Bonus Potential At Target and his actual performance during
       the bonus period. The Bonus Potential Earned, if any, will be paid in
       full in cash at the same time as the payment of annual bonuses under the
       Corporate Bonus Plan are made to other participants in the plan, with
       such time to be determined by the Company in its discretion but in no
       event later than (i) 15 days following the completion of the Company's
       annual audit or (ii) the date that the Bonus Potential Earned must be
       paid in order to be deductible by the Company for U.S. federal income tax
       purposes for the tax year in which the Bonus Potential Earned was earned,
       whichever is later.

4.3    Benefits. The Executive shall, upon satisfaction of legal or applicable
       third-party provider eligibility requirements with respect thereto, be
       entitled to participate in all Benefits now or hereafter in effect or
       that are hereafter made available to the Company's employees generally.
       The previous sentence shall not be construed as limiting the Company's
       right, in its sole discretion, to add to, reduce, modify, or eliminate
       any such Benefit. In addition, the Company shall maintain for the
       Executive any specific benefits set forth in Schedule 1.

4.4    Vacation; Holidays; Sick Leave. During the Employment the Executive shall
       be entitled to sick leave, holidays, and an annual vacation, all in
       accordance with the regular policy of the Company for its Senior
       Executives (but in no event less than the minimum annual vacation set
       forth in Schedule 1), during which time his compensation and benefits
       shall be paid or provided in full.

4.5    Annual Compensation Review. At least annually during the Employment, the
       Company shall review with the Executive the Base Salary, the Bonus
       Potential At Target, and all other forms of compensation, which the
       Executive is then receiving (or, in the case of contingent compensation,
       for which the Executive is a participant in the applicable plan). The
       Base Salary may be increased (but not decreased) from time to time as
       determined by the Company's board of directors or the compensation
       committee thereof. The Executive's Bonus Potential At Target shall be
       automatically increased by the same percentage as any increase in the
       Base Salary as provided in Section 4.1. Any increase in Base Salary shall
       not limit or reduce any other obligation of the Company to the Executive
       under this Agreement. The Base Salary may not be decreased without the
       Executive's express prior written consent.

5.     TERMINATION OF EMPLOYMENT.

5.1    At-Will Employment; Termination Date. The Executive will be an "at will"
       employee during the entire time of the Employment. Either the Company or
       the Executive may terminate the Employment at any time, for any reason or
       no reason, with or without cause. Any such termination shall be by notice
       in accordance with this Agreement. The Termination Date of the Employment
       will be

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                                                    EXECUTIVE:  ERIC J. PULASKI

       the termination date stated in the Company's notice of termination to the
       Executive or in the Executive's notice of resignation to the Company, as
       applicable.

5.2    Notice of Resignation; Waiver of Notice Period. If the Executive resigns
       from the Company, the Executive will give the Company at least two (2)
       weeks' prior notice of resignation. The Company may in its discretion
       waive any notice period stated in the Executive's notice of resignation,
       in which case the Termination Date of the Employment will be the date of
       such waiver.

5.3    No Termination of Agreement Per Se. Termination of the Employment will
       not terminate this Agreement per se; to the extent that either party has
       any right under applicable law to terminate this Agreement, any such
       termination of this Agreement shall be deemed solely to be a termination
       of the Employment without affecting any other right or obligation
       hereunder except as provided herein in connection with termination of the
       Employment.

5.4    Termination for Disability. If the Company determines in good faith that
       the Executive has become subject to a Disability during the Employment
       (pursuant to the definition of Disability as set forth in this Agreement)
       and that it intends to terminate the Employment for that reason, then it
       shall give to the Executive written notice in accordance with this
       Agreement of its intention to terminate the Executive's employment. If
       the Company gives the Executive such written notice, the Executive's
       Employment shall terminate effective on the 30th day after receipt of
       such notice by the Executive, provided that, within such 30-day period,
       the Executive has not returned to full-time performance of the
       Executive's duties.

5.5    Exit Interview. If the Employment is terminated for any reason other than
       death, then to help the Company protect its intellectual property rights
       and other interests, the Executive shall cooperate in such exit-interview
       procedures as may be reasonably requested by the Company and are in
       keeping with the Company's employment and termination policies for all
       employees, including but not limited to providing the Company with
       reasonably complete and accurate information about any plans the
       Executive may have for future employment to the extent such information
       directly relates to the Company's protection of its intellectual property
       rights. The Company shall complete this exit-interview process within 30
       days after the Termination Date.

5.6    Transition of Email, etc. If the Employment is terminated by either the
       Executive or the Company, the Company will provide reasonable cooperation
       in (i) permitting the Executive to copy or remove the Executive's
       personal files (not including Company confidential information) from the
       Executive's computer and office, and (ii) arranging for any personal
       emails or phone messages to be forwarded to the Executive.

5.7    Payments Following Termination . If the Employment is terminated for any
       reason, either by the Company or by the Executive's resignation, then the
       Company shall pay the Executive the following amounts as part of the
       Company's next regular payroll cycle but in no event later than thirty
       (30) days after the Termination Date, to the extent that the same have
       not already been paid:

       (a) any and all salary and vacation pay earned through the Termination
           Date; and

       (b) any reimbursable expenses properly reported by the Executive.

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                                                    EXECUTIVE:  ERIC J. PULASKI

       The Company shall also pay any Bonus Potential Earned at the same time
       that payments are made to other participants in the Corporate Bonus Plan.

6.     SEVERANCE BENEFITS UPON CERTAIN TERMINATIONS

6.1    Severance Payment. If (1) the Employment is terminated by the Company
       other than for Cause, or (2) the Executive resigns for Good Reason, or
       (3) the Executive dies, then:

       (a) the Company shall pay to the Executive, if living, an amount (the
           "SEVERANCE PAYMENT") equal to one (1) times the highest Base Salary
           in effect (i) during the 12 months immediately prior to the
           Termination Date or (ii) during the Employment, if the Employment has
           lasted less than 12 months. The Severance Payment shall be paid in
           equal, twice-monthly installments over a period of 12 months after
           the Termination Date;

       (b) if the Executive is not living, then the Severance Payment shall be
           paid to the Executive's heir(s), assign(s), successor(s)-in-interest,
           or legal representative(s), in the same manner as specified in
           subparagraph (a); and

       (c) as a condition to providing the Executive with the Severance Payment,
           the Company, in its sole discretion, may require the Executive to
           first execute a release, in the form attached hereto as Exhibit A

6.2    Continuation of Insurance and Related Benefits.  If (1) the Employment
       is terminated by the Company other than for Cause, or (2) the Executive
       resigns for Good Reason, or (3) the Executive dies, then:

       (a) The Company shall, to the greatest extent permitted by applicable law
           and the terms and conditions of the applicable insurance or benefit
           plan, maintain the Executive (if living) and the Executive's
           dependents as participants in the life, health, dental, accident,
           disability insurance, and similar benefit plans offered to (and on
           the same terms as) other Senior Executives until the 12-month
           anniversary of the Termination Date.

       (b) To the extent that applicable law or the terms and conditions of the
           applicable insurance or benefit plan do not permit the Company to
           comply with subparagraph (a), the Company shall reimburse the
           Executive (if living) and the Executive's dependents, for all
           expenses incurred by any of them in maintaining the same levels of
           coverage under COBRA as in the plans referred to in subparagraph (a),
           for the same period as provided in subparagraph (a), but solely to
           the extent that such expenses exceed the deduction or amount that
           would have been required to be paid by the Executive for such
           coverage if the Employment had not been terminated.

       (c) If Employment is terminated by the Executive's death, or if the
           Executive dies before the expiration of the Company's obligation
           under this Section 6.2, then the Company shall continue to maintain
           coverage for the Executive's dependents under all insurance plans
           referred to in this Section 6.2 for which such dependents had
           coverage as of the date of the Executive's

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                                                    EXECUTIVE:  ERIC J. PULASKI

           death, at the same coverage levels and for the same period of time as
           would have been required had the Executive not died.

(d)            Following the expiration of such coverage period by the Company
               the Executive (if living) and the Executive's dependents will be
               entitled to elect to maintain coverage under such insurance- and
               benefit plans in accordance with COBRA to the fullest extent
               available under law.

6.3    D&O Insurance and Indemnification. Through at least the tenth anniversary
       of the Termination Date, the Company shall maintain coverage for the
       Executive as an additional insured on all directors' and officers'
       insurance maintained by the Company for the benefit of its directors and
       officers on at least the same basis as all other covered individuals and
       provide the Executive with at least the same corporate indemnification as
       it provides to other Senior Executives.

6.4    No Other Severance Benefits. Other than as described above in this
       Section 6.2, the Executive shall not be entitled to any payment, benefit,
       damages, award or compensation in connection with termination of the
       Employment, by either the Company or the Executive, except as may be
       expressly provided in another written agreement, if any, executed by the
       Executive and by an authorized officer of the Company. Neither the
       Executive nor the Company is obligated to enter into any such other
       written agreement.

6.5    No Waiver of ERISA-Related Rights. Nothing in this Agreement shall be
       construed to be a waiver by the Executive of any benefits accrued for or
       due to the Executive under any employee benefit plan (as such term is
       defined in the Employees' Retirement Income Security Act of 1974, as
       amended) maintained by the Company, if any, except that the Executive
       shall not be entitled to any severance benefits pursuant to any severance
       plan or program of the Company other than as provided herein.

6.6    Mitigation Not Required. The Executive shall not be required to mitigate
       the amount of any payment or benefit which is to be paid or provided by
       the Company pursuant to this Section 6. Any remuneration received by the
       Executive from a third party following termination of the Employment
       shall not apply to reduce the Company's obligations to make payments or
       provide benefits hereunder.

7.     TAX WITHHOLDING. Notwithstanding any other provision of this Agreement,
       the Company may withhold from amounts payable under this Agreement, or
       under any other agreement between the Executive and the Company, all
       federal, state, local and foreign taxes that are required to be withheld
       by applicable laws or regulations.

8.       CONFIDENTIAL INFORMATION.

8.1    The Executive acknowledges that the law provides the Company with
       protection for its trade secrets and confidential information. The
       Executive will not disclose, directly or indirectly, any Confidential
       Information without authorization from the Company's management. The
       Executive will not use any Confidential Information in any way, either
       during or after the Employment with the Company, except as required in
       the course of the Employment.

8.2    The Executive will strictly adhere to any obligations that may be owed to
       former employers insofar as the Executive's use or disclosure of their
       confidential information is concerned.

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                                                    EXECUTIVE:  ERIC J. PULASKI

8.3    All originals and all copies of any drawings, blueprints, manuals,
       reports, computer programs or data, notebooks, notes, photographs, and
       all other recorded, written, or printed matter relating to research,
       manufacturing operations, or business of the Company made or received by
       the Executive during the Employment are the property of the Company. Upon
       any termination of the Employment, regardless of the circumstances, the
       Executive will immediately deliver to the Company all property of the
       Company which may still be in the Executive's possession. The Executive
       will not remove or assist in removing such property from the Company's
       premises under any circumstances, either during the Employment or after
       termination thereof, except as authorized by the Company management.

9.     OWNERSHIP OF INTELLECTUAL PROPERTY.  The following provisions apply
       except to the extent, if any, expressly stated otherwise in Schedule 1.

9.1    The Company will be the sole owner of any and all BindView Inventions and
       BindView Materials which the Executive participates in inventing or
       developing in any way. The Executive will promptly disclose to the
       Company, or its nominee(s), without additional compensation, all BindView
       Inventions and BindView Materials. The Executive will assist the Company,
       at the Company's expense, in protecting any intellectual property rights
       that may be available anywhere in the world for BindView Inventions and
       BindView Materials, including but not limited to signing U.S. or foreign
       patent applications, oaths or declarations relating to such patent
       applications, and similar documents. To the extent that any BindView
       Invention or BindView Materials are eligible under applicable law to be
       deemed a "work made for hire," or otherwise to be owned automatically by
       the Company, the same will be deemed as such, without additional
       compensation to the Executive.

9.2    To the extent that, as a matter of law, the Executive retains any
       so-called "moral rights" or similar rights as in any BindView Invention
       or BindView Materials, the Executive authorizes the Company or its
       designee to make any changes it desires to any part of the same; to
       combine any such part with other materials; and to withhold the
       Executive's identity in connection with any business operations relating
       to the same; in any case without additional compensation to the
       Executive.

10.      NONCOMPETITION COVENANT.

10.1   The Company agrees to provide the Executive, during the Employment, with
       on-going access to pre-existing and new Confidential Information
       commensurate with the Executive's duties, including but not limited to
       access to appropriate portions of the Company's computer network. To aid
       in the protection of the Company's legitimate interests in such
       Confidential Information, and further in consideration of the Company's
       agreement hereunder to provide the Executive with Severance Benefits, the
       Executive agrees that, beginning on the date that the Company first
       provides the Executive with such access in any form, and ending one year
       thereafter (subject to tolling as provided in Section 10.4), unless the
       Company in its sole discretion gives its prior written consent, the
       Executive will not, directly or indirectly:

(a)            participate, for himself or on behalf of any other Person, in any
               business that competes with any BindView Business anywhere in the
               world, where the Executive's Employment related in any way to
               such BindView Business. As used in the previous sentence,
               "participate"

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                                                    EXECUTIVE:  ERIC J. PULASKI

           includes but is not limited to permitting the Executive's name
           directly or indirectly to be used by or to become associated with
           any other Person (including as an advisor, representative, agent,
           promoter, independent contractor, provider of personal services or
           otherwise) in connection with such competing business;

       (b) interfere, directly or indirectly, with the relationship between any
           BindView Company and its employees by inducing any such employee to
           terminate his or her employment;

       (c) solicit for employment, directly or indirectly, on behalf of the
           Executive or any other Person, any person who is at the time in
           question, or at any time in the then-past three-month period has
           been, an employee of any of the BindView Companies; or

       (d) induce or assist any other Person to engage in any of the activities
           described in subparagraphs (i) through (iii).

10.2   The Executive acknowledges that the Company would not permit the
       Executive to have or to continue to have access to Confidential
       Information without the Executive's agreement to the restrictions in
       Section 10.1. The Executive further acknowledges and agrees that: (i) the
       restrictions in Section 10.1 are fair and reasonable and the result of
       negotiation, relate to special, unique and extraordinary matters.

10.3   If the Executive has never been provided with any access to Confidential
       Information at the time the Employment is terminated (including but not
       limited to never having been provided access to an email account or other
       access to a computer network of any BindView Company), then the Executive
       will be automatically released from the restrictions in Section 10.1.
       Such release will be the Executive's EXCLUSIVE REMEDY for any actual or
       alleged breach of this Agreement by the Company in not providing such
       access.

10.4   If the Executive violates the restrictions set forth in Section 10.1, and
       the Company brings a legal action for injunctive or other relief, the
       Company shall not be deprived of the benefit of those restrictions.
       Accordingly, the restrictions in Section 10.1 will be tolled during any
       period in which the Executive violates any of such restrictions until the
       date of entry by a court of competent jurisdiction of a final judgment
       enforcing such restrictions in Section 10.1, as written or as modified by
       the court.

10.5   The Company will not unreasonably withhold its consent under Section 10.1
       to the Executive's employment, after the Employment, by a corporation
       that competes with one or more of the BindView Companies, but only if,
       before starting the new employment, the Executive provides the Company
       with a document reasonably satisfactory to the Company, signed by both
       the Executive and such corporation, containing (i) a written description
       of the Executive's duties in the new job, and (ii) specific assurances
       that in the new job the Executive will neither use nor disclose
       Confidential Information of any BindView Company.

10.6   The Executive may acquire a direct or indirect ownership interest of not
       more than 5% of the outstanding securities of any corporation which is
       engaged in activities prohibited by Section 10.1 which is listed on any
       recognized securities exchange or traded in the over-the-counter market

                                                                        Page 12

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                                                    EXECUTIVE:  ERIC J. PULASKI

       in the United States, provided that such investment is of a totally
       passive nature and does not involve the Executive's devoting time to the
       management or operations of such corporation.

10.7   If a Tribunal determines that any of the restrictions set forth in
       Section 10.1 is unreasonably broad or otherwise unenforceable under
       applicable law, then (i) such determination shall be binding only within
       the geographical jurisdiction of the Tribunal, and (ii) the restriction
       will not be terminated or rendered unenforceable, but instead will be
       reformed (solely for enforcement within the geographic jurisdiction of
       the Tribunal) to the minimum extent required to render it enforceable.

11.    EMPLOYEE HANDBOOKS, ETC. From time to time, the Company may, in its
       discretion, establish, maintain and distribute employee manuals or
       handbooks or personnel policy manuals, and officers or other
       representatives of the Company may make written or oral statements
       relating to personnel policies and procedures. The Executive will adhere
       to and follow all rules, regulations, and policies of the Company set
       forth in such manuals, handbooks, or statements as they now exist or may
       later be amended or modified. Such manuals, handbooks and statements do
       not constitute a part of this Agreement nor a separate contract, and
       shall not be deemed as amending this Agreement or as creating any binding
       obligation on the part of the Company, but are intended only for general
       guidance.

12.    ARBITRATION.

12.1   Except as set forth in Section 12.3 or to the extent prohibited by
       applicable law, any dispute, controversy or claim arising out of (by
       statute, common law, or otherwise) or relating to (i) this Agreement or
       its interpretation, performance, or alleged breach, or (ii) the
       Employment, including but not limited to its commencement and its
       termination, will be submitted to binding arbitration before a single
       arbitrator in accordance with the National Rules for the Resolution of
       Employment Disputes of the American Arbitration Association (AAA) in
       effect on the date of the demand for arbitration.

12.2   The arbitration shall take place before a single arbitrator, who will
       preferably but not necessarily (x) be a practicing attorney, and (y) have
       at least five years' experience in working in or with computer software
       companies. Unless otherwise agreed by the parties, the arbitration shall
       take place in the city in which the Executive's principal office space is
       located at the time of the dispute or was located at the time of
       termination of the Employment (if applicable). Unless otherwise agreed by
       the parties, the Company will pay all reasonable fees and expenses
       charged by the arbitrator and the AAA but will not pay the Executive's
       fees or expenses associated with the arbitration. The arbitrator is
       hereby directed to take all reasonable measures not inconsistent with the
       interests of justice to expedite, and minimize the cost of, the
       arbitration proceedings. Judgment upon the award rendered by the
       arbitrator may be entered in any court having jurisdiction.

12.3   To protect Inventions, trade secrets, or other confidential information,
       the Company may seek temporary, preliminary, and permanent injunctive
       relief in a court of competent jurisdiction, including but not limited to
       an injunction enforcing the provisions of Sections 8, 9, and 10, in each
       case, without waiving its right to arbitration.

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                                                    EXECUTIVE:  ERIC J. PULASKI

12.4   At the request of either party, the arbitrator may take any interim
       measures s/he deems necessary with respect to the subject matter of the
       dispute, including measures for the preservation of confidentiality set
       forth in this Agreement.

13.      OTHER PROVISIONS.

13.1   This Agreement shall inure to the benefit of and be binding upon (i) the
       Company and its successors and assigns and (ii) the Executive and the
       Executive's heirs and legal representatives, except that the Executive's
       duties and responsibilities under this Agreement are of a personal nature
       and will not be assignable or delegable in whole or in part without the
       Company's prior written consent.

13.2   The Executive represents and warrants (i) that he has no obligations,
       contractual or otherwise, inconsistent with the Executive's obligations
       set forth in this Agreement, and (ii) that all of his responses to any
       requests, by or on behalf of the Company, for information and/or
       documents, in connection with the Company's hiring of the Executive
       and/or with the negotiation of this Agreement, are truthful and complete.

13.3   All notices and statements with respect to this Agreement must be in
       writing and shall be delivered by certified mail return receipt
       requested; hand delivery with written acknowledgment of receipt; or
       overnight courier with delivery-tracking capability. Notices to the
       Company shall be addressed to the Company's general counsel or chief
       executive officer at the Company's then-current Principal Operating
       Offices. Notices to the Executive may be delivered to the Executive in
       person or to the Executive's then-current home address as indicated on
       the Executive's pay stubs or, if no address is so indicated, as set forth
       in the Company's payroll records. A party may change its address for
       notice by the giving of notice thereof in the manner hereinabove
       provided.

13.4   If the Executive Resigns for Good Reason because of (i) the Company's
       failure to pay the Executive on a timely basis the amounts to which he is
       entitled under this Agreement or (ii) any other breach of this Agreement
       by Company, then the Company shall pay all amounts and damages to which
       the Executive may be entitled as a result of such failure or breach,
       including interest thereon at the maximum non-usurious rate and all
       reasonable legal fees and expenses and other costs incurred by the
       Executive to enforce the Executive's rights hereunder and the Executive
       will be relieved of all obligations under Section 10 (noncompetition).

13.5   This Agreement sets forth the entire present agreement of the parties
       concerning the subjects covered herein; there are no promises,
       understandings, representations, or warranties of any kind concerning
       those subjects except as expressly set forth in this Agreement.

13.6   Any modification of this Agreement must be in writing and signed by all
       parties; any attempt to modify this Agreement, orally or in writing, not
       executed by all parties will be void.

13.7   If any provision of this Agreement, or its application to anyone or under
       any circumstances, is adjudicated to be invalid or unenforceable in any
       jurisdiction, such invalidity or unenforceability will not affect any
       other provision or application of this Agreement which can be given
       effect without the invalid or unenforceable provision or application and
       will not invalidate or render unenforceable such provision or application
       in any other jurisdiction.

                                                                        Page 14

<PAGE>

                                                    EXECUTIVE:  ERIC J. PULASKI

13.8   This Agreement will be governed and interpreted under the laws of the
       United States of America and of the State of Texas law as applied to
       contracts made and carried out in entirely Texas by residents of that
       State.

13.9   No failure on the part of any party to enforce any provisions of this
      Agreement will act as a waiver of the right to enforce that provision.

13.10  Termination of the Employment, with or without Cause, will not affect the
       continued enforceability of this Agreement.

13.11  Section headings are for convenience only and shall not define or limit
       the provisions of this Agreement.

13.12  This Agreement may be executed in several counterparts, each of which is
       an original. It shall not be necessary in making proof of this Agreement
       or any counterpart hereof to produce or account for any of the other
       counterparts. A copy of this Agreement manually signed by one party and
       transmitted to the other party by FAX or in image form via email shall be
       deemed to have been executed and delivered by the signing party as though
       an original. A photocopy of this Agreement shall be effective as an
       original for all purposes.

-------------------------------------------------------------------------------
                                   SCHEDULE 1
-------------------------------------------------------------------------------
Effective Date                                  December 30, 2002
-------------------------------------------------------------------------------
Office                                          Chairman and President
-------------------------------------------------------------------------------
Position                                        Chief Executive Officer
-------------------------------------------------------------------------------
Base Salary                                     $ 225,000 per year
-------------------------------------------------------------------------------
Bonus Potential At Target                       $ 249,750
-------------------------------------------------------------------------------
Minimum annual vacation                         20 business days
-------------------------------------------------------------------------------
Specific benefits                               Reserved parking space
-------------------------------------------------------------------------------

                                                                        Page 15

<PAGE>

                                                    EXECUTIVE:  ERIC J. PULASKI

THIS AGREEMENT CONTAINS PROVISIONS REQUIRING BINDING ARBITRATION OF DISPUTES,
WHICH HAVE THE EFFECT OF WAIVING EACH PARTY'S RIGHT TO A JURY TRIAL. By signing
this Agreement, the Executive acknowledges that the Executive (1) has read and
understood the entire Agreement; (2) has received a copy of it (3) has had the
opportunity to ask questions and consult counsel or other advisors about its
terms; and (4) agrees to be bound by it. Executed and effective as of the
Effective Date.

BINDVIEW CORPORATION, BY:                         EXECUTIVE

---------------------------                       ---------------------------
Edward L. Pierce, Senior Vice                     Signature
President and Chief Financial
Officer

                                                                        Page 16

<PAGE>

                                                    EXECUTIVE:  ERIC J. PULASKI

                                    EXHIBIT A
                             FORM OF GENERAL RELEASE

I, the undersigned, execute this release ("Release") in consideration of, and as
a condition precedent to, my being provided certain Severance Benefits pursuant
to an Executive Employment Agreement, between myself (referred to therein as the
"Executive") and BINDVIEW CORPORATION ("BindView").

1.     On behalf of myself, my attorneys, heirs, executors, administrators,
successors, and assigns, I hereby fully release and discharge BindView, its
parent, subsidiary, and affiliate corporations, and related companies, as well
as all predecessors, successors, assigns, directors, officers, partners, agents,
employees, former employees, heirs, executors, attorneys, and administrators
(hereinafter "BindView, et al."), from all suits, causes of action, and/or
claims of any nature whatsoever, whether known, unknown, or unforeseen, which I
have or may have against BindView, et al., arising out of any event,
transaction, or matter that occurred before the date of my signing of this
Release. I covenant that neither I, nor any person, organization, or other
entity on my behalf, will sue BindView, et al., or initiate any type of action
for damages, against BindView, et al. with respect to any event, transaction, or
matter that occurred before the date of my signing of this Release. I understand
and agree that this Release is a GENERAL RELEASE.

2.     This Release specifically includes, but is not limited to, a release
of all claims of breach of contract, employment discrimination, (including, but
not limited to, discrimination on the basis of race, sex, religion, national
origin, age, disability or any other protected status, and coming within the
scope of Title VII of the U.S. Civil Rights Act, as amended, the U.S. Age
Discrimination in Employment Act, as amended, the U.S. Older Workers Benefit
Protection Act, or any other applicable state or federal statute in any U.S. of
foreign jurisdiction), claims concerning recruitment, hiring, salary rate, stock
options, severance pay, wages or benefits due, employment status, libel,
slander, defamation, intentional or negligent misrepresentation and/or
infliction of emotional distress, together with any and all tort, contract, or
other claims which might have been asserted by my or on my behalf in any suit,
charge of discrimination, or claim against BindView, et al.

3.     If I have passed my fortieth (40th) birthday, I acknowledge that:

       a.  I have been given an opportunity of forty-five (45) days to consider
           this Release and that I have been encouraged by BindView to discuss
           its terms with legal counsel of my own choosing and at my own
           expense;

       b.  For a period of seven (7) days following my execution of this
           Release, I will have the right (referred to herein as the "Revocation
           Right") to revoke my waiver of claims arising under the Age
           Discrimination in Employment Act ("ADEA"), a U.S. federal statute
           that prohibits employers from discriminating against employees who
           are over the age of 40. If I wish to exercise the Revocation Right:

           i.   I must inform BindView by delivering a written notice of
                revocation to BindView's Houston office, attention: General
                Counsel, no later than 5:00 p.m. on the seventh calendar day
                after the date written by my signature below; and

                                                                        Page 17

<PAGE>

                                                    EXECUTIVE:  ERIC J. PULASKI

           ii.  If I do so, then (a) the Release shall be voided as to claims
                arising under the ADEA, but (b) the Release shall remain in full
                force and effect as to any and all other claims.

4.     I agree that except as expressly provided otherwise herein, this Release
       may not be released, discharged, abandoned, supplemented, changed, or
       modified in any manner, except by an instrument in writing signed by me
       and a duly authorized member of the management of BindView.

Date:
      -------------------------                     ---------------------------
                                                    [Signature]

                                                    ---------------------------
                                                    Printed Name

                                                                        Page 18

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