Document:

SonicWALL, Inc. Stock Option Agreement dated July 29, 2004

 EXHIBIT 10.1 
  
 [FORM OF OUTSIDE DIRECTOR AGREEMENT] 
  
 SONICWALL, INC. 
  
 STOCK OPTION AGREEMENT 
  
 Unless otherwise defined herein, the terms defined in the SonicWALL, Inc.
1998 Stock Option Plan (the “Plan”) shall have the same defined meanings in this Stock Option Agreement (the “Option Agreement”). 
  
 Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this Option Agreement. 
  
 I. NOTICE OF GRANT 
  
 [Optionee’s Name and Address] 
  
 You have been granted an option to purchase Common Stock of the Company,
subject to the terms and conditions of the Plan and this Option Agreement, as follows: 
  

			
	Grant Number	  	__________________________________
		
	Grant Date	  	__________________________________
		
	Exercise Price per Share	  	$__________________________________
		
	Total Number of Shares Granted	  	__________________________________
		
	Total Exercise Price	  	$__________________________________
		
	Type of Option:	  	Nonstatutory Stock Option
		
	Term/Expiration Date:	  	__________________________________

  
 Vesting
Schedule: 
  
 Subject to accelerated vesting as set forth in
Section 2(b) of this Option Agreement, 100% of the Shares subject to this Option shall vest on the first anniversary of the Grant Date, subject to Optionee’s Continuous Employment (including service as a Non-Employee Director) through such
vesting date. 

 II. AGREEMENT 
  
 1. Grant of Option. 
  
 The Board hereby grants to the Optionee (the “Optionee”) named in the Notice of Grant section of this Agreement (the “Notice of
Grant”), an option (the “Option”) to purchase the number of Shares set forth in the Notice of Grant, at the exercise price per share set forth in the Notice of Grant (the “Exercise Price”), subject to the terms and
conditions of the Plan (which is incorporated herein by reference) and this Option Agreement. In the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Option Agreement, the terms and conditions of
the Plan shall prevail. 
  
 2. Exercise of Option.

  
 (a) Right to Exercise. Subject to accelerated vesting
as set forth below, this Option is exercisable during its term in accordance with the Vesting Schedule set out in the Notice of Grant and the applicable provisions of the Plan and this Option Agreement, subject to Optionee’s Continuous
Employment (including service as a Non-Employee Director) on each vesting date. 
  
 (b) Double-Trigger Change of Control Acceleration. In the event that within the twelve (12) month period commencing on and following a Change of Control of the Company (as defined herein), Optionee ceases
serving as a member of the Board, other than upon (i) a voluntary resignation by the Optionee that is not requested by the acquiring or successor entity, (ii) a cessation of Board service due to the Optionee’s death or Disability (as defined
herein), or (iii) Optionee being removed from the Board for “Cause,” as such term is defined in applicable law, then 100% of the Shares subject to this Option immediately shall become vested and exercisable. 
  
 (c) Change of Control Definition. For purposes of this Agreement,
“Change in Control of the Company” means the occurrence of any of the following events: 
  
 (i) Any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended) becomes the
“beneficial owner” (as defined in Rule 13d-3 under said Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the total voting power represented by the Company’s then outstanding voting
securities; or 
  
 (ii) The consummation of the sale or
disposition by the Company of all or substantially all the Company’s assets or its business; or 
  
 (iii) The consummation of a merger, reverse merger or consolidation of the Company with any other corporation, other than a merger or consolidation which
would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) at least fifty percent (50%) of
the total voting power represented by the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation; or 
  

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 (iv) A change in the composition of the Board occurring within a two-year period, as a result of which
fewer than a majority of the directors are Incumbent Directors. “Incumbent Directors” shall mean directors who either (A) are directors of the Company as of the date upon which this Agreement was entered into, or (B) are elected, or
nominated for election, to the Board with the affirmative votes of at least a majority of those directors whose election or nomination was not in connection with any transaction described in subsections (i), (ii), or (iii) above, or in connection
with an actual or threatened proxy contest relating to the election of directors to the Company. 
  
 (d) Disability Definition. For purposes of this Agreement, “Disability” means the Optionee has been unable to perform with reasonable
accommodation his or her duties as an member of the Board as the result of Optionee’s incapacity due to physical or mental illness, and such inability, at least 26 weeks after its commencement, is determined to be total and permanent by a
physician selected by the Company or its insurers and acceptable to the Optionee or the Optionee’s legal representative (such agreement as to acceptability not to be unreasonably withheld). 
  
 (e) Normal Post-Termination Exercise Period. Except as specified in
Section 2(f) below, this Option, to the extent vested upon the date an Optionee ceases his or her Continuous Employment (including service as a Non-Employee Director), may be exercised until the earlier of (i) two years after the date upon which
Optionee ceases his or her Continuous Employment (including service as a Non-Employee Director), or (ii) the original ten-year Option term. 
  
 (f) Death Post-Termination Exercise Period. If Optionee’s Continuous Employment (including service as a Non-Employee Director), ceases upon
Optionee’s death or within the 90-day period preceding Employee’s death, this Option may be exercised, but only to the extent vested on the date of such cessation of Continuous Employment, by the Optionee’s estate or by a person who
acquired the right to exercise this Option by bequest or inheritance, until the end of the original ten-year Option term. 
  
 (g) Method of Exercise. This option may be exercised with respect to all or any part of any vested Shares by giving the Company, Smith Barney, or
any successor third-party stock option plan administrator designated by the Company written or electronic notice of such exercise, in the form designated by the Company or the Company’s designated third-party stock option plan administrator,
specifying the number of shares as to which this option is exercised and accompanied by payment of the aggregate Exercise Price as to all exercised shares. 
  
 This Option shall be deemed to be exercised upon receipt by the Company, Smith Barney, or any successor third-party stock option plan administrator
designated by the Company of such fully executed exercise notice accompanied by such aggregate Exercise Price. 
  
 No Shares shall be issued pursuant to the exercise of this Option unless such issuance and exercise complies with applicable laws. Assuming such
compliance, for income tax purposes the exercised shares shall be considered transferred to the Optionee on the date the Option is exercised with respect to such exercised shares. 
  

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 (h) Payment of Exercise Price. Payment of the aggregate exercise price shall be by any of the
following, or a combination thereof, at the election of the Optionee: 
  
 (i) cash; or 
  
 (ii) check; or 
  
 (iii) consideration received by the Company under a cashless exercise
program implemented by the Company in connection with the Plan.  
  
 3. Non-Transferability of Option. 
  
 This Option
may not be transferred in any manner otherwise than by will or by the laws of descent or distribution and may be exercised during the lifetime of Optionee only by the Optionee. The terms of the Plan and this Option Agreement shall be binding upon
the executors, administrators, heirs, successors and assigns of the Optionee. 
  
 4. Term of Option. 
  
 This Option may be exercised only within the term set out in the Notice of Grant, and may be exercised during such term only in accordance with the Plan and the terms of this Option Agreement. 
  
 5. Tax Consequences. 
  
 Some of the federal tax consequences relating to this Option, as of the date
of this Option, are set forth below. THIS SUMMARY IS NECESSARILY INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE SUBJECT TO CHANGE. THE OPTIONEE SHOULD CONSULT A TAX ADVISER BEFORE EXERCISING THIS OPTION OR DISPOSING OF THE SHARES. 
  
 a. Exercising the Option. 
  
 The Optionee may incur regular federal income tax liability upon exercise of
a NSO. The Optionee will be treated as having received compensation income (taxable at ordinary income tax rates) equal to the excess, if any, of the fair market value of the exercised shares on the date of exercise over their aggregate Exercise
Price. 
  
 (b) Disposition of Shares. 
  
 If the Optionee holds NSO Shares for more than one year, any gain realized
on disposition of the Shares will be treated as long-term capital gain for federal income tax purposes. 
  
 6. Entire Agreement; Governing Law. 
  
 The Plan is incorporated herein by reference. The Plan and this Option Agreement constitute the entire agreement of the parties with respect to the
subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and Optionee with respect to the 
  

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 subject matter hereof, and may not be modified adversely to the Optionee’s interest except by means of a writing
signed by the Company and Optionee. This agreement is governed by the internal substantive laws, but not the choice of law rules, of California. 
  
 By your signature and the signature of the Company’s representative below, you and the Company agree that this Option is granted under and governed
by the terms and conditions of the Plan and this Option Agreement. Optionee has reviewed the Plan and this Option Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Agreement and fully
understands all provisions of the Plan and this Option Agreement. Optionee hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions relating to the Plan and Option Agreement.
Optionee further agrees to notify the Company upon any change in the residence address indicated below. 
  

			
	OPTIONEE:	  	SONICWALL, INC.
		
	
	  	

	Signature	  	By
		
	
	  	

	Print Name	  	Title
		
	
	  	 
	Residence Address	  	 

  

 5SonicWALL, Inc. Stock Option Agreement dated July 29, 2004

 EXHIBIT 10.2 
  
 SONICWALL, INC. 
  
 STOCK OPTION AGREEMENT 
  
 Unless otherwise defined herein, the terms defined in the SonicWALL, Inc. 1998 Stock Option Plan (the “Plan”) shall have the same defined
meanings in this Stock Option Agreement (the “Option Agreement”). 
  
 1. Grant of Option. 
  
 The Board hereby grants to the Optionee (the “Optionee”) named in the Grant Agreement section of this website (the “Grant Agreement”) to which this Option Agreement is attached, an option (the “Option”) to
purchase the number of Shares set forth in the Grant Agreement, at the exercise price per share set forth in the Grant Agreement (the “Exercise Price”), subject to the terms and conditions of the Plan (which is incorporated herein by
reference) and this Option Agreement. In the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Option Agreement, the terms and conditions of the Plan shall prevail. 
  
 If designated in the Grant Notice as an Incentive Stock Option
(“ISO”), this Option is intended to qualify as an Incentive Stock Option under Section 422 of the Code. However, if this Option is intended to be an Incentive Stock Option, to the extent that it exceeds the $100,000 rule of Code Section
422(d) it shall be treated as a Nonstatutory Stock Option (“NSO”). 
  
 2. Exercise of Option. 
  
 (a) Right to Exercise. This Option is exercisable during its term in accordance with the Vesting Schedule set out in the Grant Agreement and the applicable provisions of the Plan and this Option Agreement, subject to Optionee’s
Continuous Employment on each vesting date. 
  
 (b)
Post-Termination Exercise Period. 
  
 (i) Normal
Termination. If Optionee’s service as a Consultant ceases, or, except as specified in Sections 2(b) and (c) below, if Optionee’s Continuous Employment ceases, this Option may be exercised, but only to the extent vested on the date of
such cessation of Continuous Employment or service as a Consultant, until the earlier of (i) three months after the date upon which Optionee ceases his or her Continuous Employment or service as a Consultant, or (ii) the original ten-year Option
term. 
  
 (ii) Death. If Optionee’s Continuous
Employment ceases upon Optionee’s death or within the 90-day period preceding Employee’s death, this Option may be exercised, but only to the extent vested on the date of such cessation of Continuous Employment, by the Optionee’s
estate or by a person who acquired the right to exercise this Option by bequest or inheritance, until the end of the original ten-year Option term. 

 (iii) Disability. If Optionee’s Continuous Employment ceases upon Optionee’s Disability
(as defined in the next sentence) or within the 90-day period preceding Employee’s Disability, this Option may be exercised, but only to the extent vested on the date of such cessation of Continuous Employment, until the earlier of (i) six
months after the date upon which Optionee ceases his or her Continuous Employment, or (ii) the original ten-year Option term. For the purposes of this Agreement, “Disability” means the Optionee has been unable to perform with reasonable
accommodation his or her duties with the Company as the result of Optionee’s incapacity due to physical or mental illness, and such inability, at least 26 weeks after its commencement, is determined to be total and permanent by a physician
selected by the Company or its insurers and acceptable to the Optionee or the Optionee’s legal representative (such agreement as to acceptability not to be unreasonably withheld). 
  
 (c) Leave of Absence. If you are granted a leave of absence, you
shall be deemed to be in the employ of the Company, except that you may not exercise an option during such leave of absence, unless otherwise required by applicable laws or as permitted by the Committee. 
  
 (d) Method of Exercise. This option may be exercised with respect to
all or any part of any vested Shares by giving the Company, Smith Barney, or any successor third-party stock option plan administrator designated by the Company written or electronic notice of such exercise, in the form designated by the Company or
the Company’s designated third-party stock option plan administrator, specifying the number of shares as to which this option is exercised and accompanied by payment of the aggregate Exercise Price as to all exercised shares. 
  
 This Option shall be deemed to be exercised upon receipt by the Company,
Smith Barney, or any successor third-party stock option plan administrator designated by the Company of such fully executed exercise notice accompanied by such aggregate Exercise Price. 
  
 No Shares shall be issued pursuant to the exercise of this Option unless such issuance and exercise complies with applicable
laws. Assuming such compliance, for income tax purposes the exercised shares shall be considered transferred to the Optionee on the date the Option is exercised with respect to such exercised shares. 
  
 (e) Payment of Exercise Price. Payment of the aggregate exercise price
shall be by any of the following, or a combination thereof, at the election of the Optionee: 
  
 (i) cash; or 
  
 (ii) check; or

  
 (iii) consideration received by the Company under a cashless
exercise program implemented by the Company in connection with the Plan.  
  
 3. Non-Transferability of Option. 
  
 This Option may not be transferred in any manner otherwise than by will or by the laws of descent or distribution and may be exercised during the lifetime of Optionee only by the Optionee. 
  

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 The terms of the Plan and this Option Agreement shall be binding upon the executors, administrators, heirs, successors
and assigns of the Optionee. 
  
 4. Term of Option.

  
 This Option may be exercised only within the term set out in
the Grant Agreement, and may be exercised during such term only in accordance with the Plan and the terms of this Option Agreement. 
  
 5. Tax Consequences. 
  
 Some of the federal tax consequences relating to this Option, as of the date of this Option, are set forth below. THIS SUMMARY IS NECESSARILY INCOMPLETE,
AND THE TAX LAWS AND REGULATIONS ARE SUBJECT TO CHANGE. THE OPTIONEE SHOULD CONSULT A TAX ADVISER BEFORE EXERCISING THIS OPTION OR DISPOSING OF THE SHARES. 
  
 (a) Exercising the Option. 
  
 (i) Nonstatutory Stock Option. The Optionee may incur regular federal income tax liability upon exercise of a Nonstatutory Stock Option. The
Optionee will be treated as having received compensation income (taxable at ordinary income tax rates) equal to the excess, if any, of the fair market value of the exercised shares on the date of exercise over their aggregate Exercise Price. If the
Optionee is an Employee or a former Employee, the Company will be required to withhold from his or her compensation or collect from Optionee and pay to the applicable taxing authorities an amount in cash equal to a percentage of this compensation
income at the time of exercise, and may refuse to honor the exercise and refuse to deliver Shares if such withholding amounts are not delivered at the time of exercise. 
  
 (ii) Incentive Stock Option. If this Option qualifies as an ISO, the Optionee will have no regular federal income
tax liability upon its exercise, although the excess, if any, of the fair market value of the exercised shares on the date of exercise over their aggregate Exercise Price will be treated as an adjustment to alternative minimum taxable income for
federal tax purposes and may subject the Optionee to alternative minimum tax in the year of exercise. In the event that the Optionee ceases to be an Employee and immediately thereafter becomes a Consultant, any Incentive Stock Option of the Optionee
that remains unexercised shall cease to qualify as an Incentive Stock Option and will be treated for tax purposes as a Nonstatutory Stock Option on the date three (3) months and one (1) day following such change of status. 
  
 (b) Disposition of Shares. 
  
 (i) NSO. If the Optionee holds NSO Shares for at least one year, any
gain realized on disposition of the Shares will be treated as long-term capital gain for federal income tax purposes. 
  
 (ii) ISO. If the Optionee holds ISO Shares for at least one year after exercise and two years after the grant date, any gain realized on
disposition of the Shares will be treated as long-term capital gain for federal income tax purposes. If the Optionee disposes of ISO Shares within one 
  

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 year after exercise or two years after the grant date, any gain realized on such disposition will be treated as
compensation income (taxable at ordinary income rates) to the extent of the excess, if any, of the lesser of (A) the difference between the fair market value of the Shares acquired on the date of exercise and the aggregate Exercise Price, or (B) the
difference between the sale price of such Shares and the aggregate Exercise Price. Any additional gain will be taxed as capital gain, short-term or long-term depending on the period that the ISO Shares were held. 
  
 (iii) Notice of Disqualifying Disposition of ISO Shares. If the
Optionee sells or otherwise disposes of any of the Shares acquired pursuant to an ISO on or before the later of (i) two years after the grant date, or (ii) one year after the exercise date, the Optionee shall immediately notify the Company in
writing of such disposition. 
  
 6. Entire Agreement; Governing
Law. 
  
 The Plan and Grant Agreement are incorporated herein
by reference. The Plan, Grant Agreement and this Option Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and
Optionee with respect to the subject matter hereof, and may not be modified adversely to the Optionee’s interest except by means of a writing signed by the Company and Optionee. This agreement is governed by the internal substantive laws, but
not the choice of law rules, of California. 
  
 Optionee and the
Company agree that this Option is granted under and governed by the terms and conditions of the Plan and this Option Agreement. Optionee has reviewed the Plan and this Option Agreement in their entirety, has had an opportunity to obtain the advice
of counsel prior to accepting this Option Agreement and fully understands all provisions of the Plan and Option Agreement. Optionee hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon
any questions relating to the Plan and Option Agreement. 
  

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