Document:

Form of Employee Benefits Agreement

 Exhibit 10.5 
 FORM OF 
 EMPLOYEE BENEFITS AGREEMENT 
 BETWEEN EMC CORPORATION AND 
 VMWARE, INC. 

 EMPLOYEE BENEFITS AGREEMENT 
 This EMPLOYEE BENEFITS AGREEMENT, dated as of June [    ], 2007, is between EMC Corporation, a Massachusetts corporation (“EMC”), and VMware, Inc., a Delaware corporation and a
wholly owned subsidiary of EMC (“VMware”). 
 WHEREAS, EMC is the beneficial owner of all the issued and outstanding common stock
of VMware; 
 WHEREAS, EMC, through VMware, is engaged in the business of virtual infrastructure technology (the “VMware
Business”), as more completely described in a Registration Statement on Form S-1 (File No. [            ]) filed with the Securities and Exchange Commission (“Commission”)
under the Securities Act, as amended (the “IPO Registration Statement”); 
 WHEREAS, EMC and VMware currently contemplate that
VMware will make an initial public offering (“IPO”) pursuant to the aforementioned Registration Statement; and 
 WHEREAS, in
furtherance of the foregoing, EMC and VMware have entered into a Master Transaction Agreement, dated as of [to come] (the “Master Transaction Agreement”), and other specific agreements that will govern certain matters relating to the IPO
and the relationship of EMC, VMware, and their respective Affiliated Companies following the IPO; and 
 WHEREAS, EMC and VMware have agreed
to provide for the allocation between them of assets, liabilities, and responsibilities with respect to certain employees and employee compensation and benefit plans, programs and matters. 
 NOW, THEREFORE, in consideration of the foregoing and the terms, conditions, covenants and provisions of this Agreement, EMC and VMware mutually covenant
and agree as follows: 
 ARTICLE I DEFINITIONS 
 For purposes of this Agreement the following terms shall have meanings set forth in this Section 1. Capitalized terms used but not defined herein shall have the meaning set forth in the Master Transaction
Agreement: 
  

	1.1	“Agreement” means this Employee Benefits Agreement. 

  

	1.2	“COBRA” means the continuation coverage requirements for “group health plans” under Title X of the Consolidated Omnibus Budget Reconciliation Act of 1985, as
amended, and as codified in Code Section 4980B and ERISA Sections 601 through 608. 

  

	1.3	“Code” means the Internal Revenue Code of 1986, as amended from time to time, or any successor federal income tax law, and the regulations promulgated thereunder.

	1.4	“EMC” is defined in the recitals to this Agreement. 

  

	1.5	“EMC Employee” means any individual who, as of the IPO Date, is either actively employed by or then on a leave of absence from EMC or an EMC Entity, but does not include
any EMC Transferee or any VMware Employee. 

  

	1.6	“EMC Entity” means any entity that is, at the time relevant to the applicable provision of this Agreement, an Affiliated Company of EMC, except that, for periods beginning
as of the IPO Date, the term “EMC Entity” shall not include VMware or a VMware Entity. 

  

	1.7	“EMC Plan” means any plan, policy, program, on-going arrangement, contract, trust, insurance policy or other agreement or funding vehicle, to the extent amended from time
to time, other than a VMware Plan, for which the eligible classes of participants include employees or former employees of EMC or an EMC Entity. 

  

	1.8	“EMC Savings Plan” means the EMC Corporation 401(k) Savings Plan. 

  

	1.9	“EMC Transferees” means the individuals whose names are set forth on Schedule A hereto, as such list may be amended from time to time by mutual agreement of the
parties. 

  

	1.10	“ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time and the regulations promulgated thereunder. 

  

	1.11	“Exchange Offer” means the exchange offer initiated by EMC and approved by VMware that will enable VMware Employees to exchange their outstanding equity awards granted
under EMC’s equity incentive plans for equity awards to be granted under the 2007 Plan (as hereinafter defined), and which offer shall expire on or about the IPO Date. 

  

	1.12	“HIPAA” means the health insurance portability and accountability requirements for “group health plans” under the Health Insurance Portability and Accountability
Act of 1996, as amended from time to time. 

  

	1.13	“Participating Company” means (a) EMC, (b) any Person (other than an individual) that EMC has approved as a participating employer or sponsor, and which is
participating in an EMC Plan, and (c) any Person (other than an individual) which, by the terms of such plan, participates in such EMC Plan. 

  

	1.14	“VMware Employee” means any individual who, as of the IPO Date, is either actively employed by or then on a leave of absence from VMware or a VMware Entity.

  

	1.15	“VMware Entity” means VMware and any subsidiary of VMware. 

  

	1.16	“VMware 401(k) Plan” means a qualified 401(k) savings plan sponsored by VMware. 

  

	1.17	“VMware Plan” means any plan, policy, program, on-going arrangement, contract, trust, insurance policy or other agreement or funding vehicle, as amended from time to time,
for which the eligible classes of participants are limited to employees or former employees of VMware or a VMware Entity, including the VMware Revenue and Profit Contribution Plan and the VMware Management by Objectives Plan.

  

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	1.18	“U.S. Health or Welfare Benefit Plan” means any of the employee benefit plans and programs set forth on Schedule B hereto. 

 ARTICLE II 
 GENERAL PRINCIPLES 
  

	2.1	Assumption and Retention of Liabilities by VMware. As of the IPO Date, and except as otherwise explicitly provided herein, VMware shall retain or assume and agree to pay,
perform, fulfill, and discharge, as the case may be, (i) all Liabilities under VMware Plans, (ii) all employment or service-related Liabilities with respect to (A) all VMware Employees (and their dependents and beneficiaries) for all
periods of employment with VMware or a VMware Entity, (B) all former employees of VMware or a VMware Entity (and their dependents and beneficiaries) for all periods of employment with VMware or a VMware Entity, and (C) any Person or
individual who is, or was, an independent contractor, temporary employee, temporary service worker, consultant, freelancer, agency employee, leased employee, on-call worker, incidental worker, or non-payroll worker or in any other similar direct
contractual relationship with VMware or a VMware Entity. 

  

	2.2	Assumption and Retention of Liabilities by EMC. Except as otherwise explicitly provided herein, EMC shall retain and agree to pay, perform, fulfill and discharge, as the case
may be (i) all Liabilities under the EMC Plans, (ii) all employment or service-related Liabilities with respect to (A) all EMC Employees (and their dependents and beneficiaries), (B) all former employees of EMC or an EMC Entity,
(C) all EMC Transferees until such time as their employment is transferred to VMware or a VMware Entity pursuant to the provisions of Section 2.4 hereof, and (D) any Person who is, or was, an independent contractor, temporary
employee, temporary service worker, consultant, freelancer, agency employee, leased employee, on-call worker, incidental worker or non-payroll worker or in any other contractual relationship with EMC or an EMC Entity. 

  

	2.3	Terms of Participation by VMware Employees in VMware Plans. To the extent applicable, EMC and VMware shall adopt, or cause to be adopted, all reasonable and necessary plan
amendments and procedures to prevent the IPO from being deemed to be a termination of employment for purposes of any EMC Plan or any VMware Plan. 

  

	2.4	 EMC Transferees. No EMC Transferee shall become an employee of VMware or a VMware Entity unless and until such time as EMC and VMware agree to effect a
transfer of employment and agree upon the terms and conditions thereof, including the allocation of all assets, Liabilities and obligations, all of which shall be set forth in a separate written agreement covering such EMC Transferees. Unless and
until such time as a transfer of employment is mutually agreed upon, EMC will continue to employ and compensate the EMC Transferees in the same manner and to the same extent as prior to the IPO Date, and 

  

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VMware or a VMware Entity shall continue to compensate EMC for such services in the same manner and to the same extent as immediately prior to the IPO Date.
At VMware’s request, EMC shall engage in the hiring of employees after the IPO Date to provide services in accordance with the same procedures and arrangements as in effect immediately prior to the IPO Date and VMware shall continue to
reimburse EMC for such services in accordance with such procedures and arrangements. Any such individuals hired by EMC or an EMC Entity after the IPO Date shall be added from time to time to the list of EMC Transferees set forth in Schedule A
hereto. 

  

	2.5	Continuation of Independent Contractor Arrangements. Unless otherwise requested by VMware, EMC shall continue to maintain (and renew if necessary) all agreements and
arrangements with independent contractors and consultants who directly or indirectly provide services for VMware or a VMware Entity, and VMware shall continue to pay or reimburse EMC for the cost of such services in the ordinary course in accordance
with the procedures and arrangements used by the parties immediately prior to the IPO Date. After the IPO Date, VMware may request EMC to transfer or assign one or more of such arrangements or agreements to VMware or a VMware Entity, in which case
the parties shall mutually agree upon the terms of any such transfer or assignment at such time. 

 ARTICLE III 
 DEFINED CONTRIBUTION PLAN 
  

	3.1	VMware 401(k) Plan. 

  

	 	(a)	VMware, Inc. 401(k) Savings Plan and Trust. In no event later than 180 days following the IPO Date (the “Implementation Date”), VMware shall adopt a defined
contribution savings plan qualified under Section 401(a) of the Code and establish a related trust exempt from taxation under Section 501(a) of the Code. Until the completion of the transfer of employee accounts pursuant to
Section 3.1(b) hereof, all eligible VMware Employees shall continue to be entitled to participate in the EMC Savings Plan on the same terms and conditions as in effect immediately prior to the IPO Date and any employees hired by VMware or a
VMware Entity after the IPO Date but prior to the Implementation Date shall be permitted to participate in the EMC Savings Plan in accordance with the terms thereof. 

  

	 	(b)	 Assumption of Liabilities and Transfer of Assets. EMC and VMware shall use reasonable best efforts to cause, in the manner described herein, the accounts
under the EMC Savings Plan of each eligible current VMware Employee to be transferred to the VMware 401(k) Plan as soon as practicable after the adoption of the VMware 401(k) Plan. As soon as practicable after such date: (i) EMC shall cause the
accounts (including any outstanding loan balances) of each eligible current VMware Employee in the EMC Savings Plan to be transferred to the VMware 401(k) Plan and its related trust in kind based on the investment election of the individuals in
accordance with Sections 401(a)(12), 411(d)(6) and 414(l) of the 

  

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Code; (ii) VMware (or any successor VMware Entity) and the VMware 401(k) Plan shall assume and be solely responsible for all Liabilities under the
VMware 401(k) Plan relating to the accounts that are so transferred as of the time of such transfer; and (iii) VMware shall cause such transferred accounts to be accepted by the VMware 401(k) Plan and its related trust and shall cause the
VMware 401(k) Plan to satisfy all protected benefit requirements under the Code and applicable law with respect to the transferred accounts. In determining whether a VMware Employee is vested in his or her account under the VMware 401(k) Plan, the
VMware 401(k) Plan shall credit each VMware Employee with all the individual’s service credited under the EMC Savings Plan; provided, however, that in no event shall VMware be required to provide any service or any other benefit-affecting
credits to any individual to the extent that the provision of such credits would result in any duplication of benefits. Immediately prior to the date upon which the transfer described above occurs, EMC shall contribute to the EMC Savings Plan all
matching contributions, if any, due to the VMware Employees pursuant to the terms and conditions of such Plan for periods prior to the transfer date. Notwithstanding anything contained herein to the contrary, the transfer described herein shall not
take place prior to the 31st day following the filing of any required Forms 5310-A in connection therewith. 

 ARTICLE IV

 HEALTH AND WELFARE PLANS AND FOREIGN BENEFIT PLANS 
  

	4.1	Retention of Health and Welfare Plan Liabilities. EMC shall retain its obligations and Liabilities under any EMC Plan which is a U.S. Health or Welfare Benefit Plan and
VMware shall retain its obligations and Liabilities under any VMware Plan that is a U.S. Health or Welfare Benefit Plan. 

  

	4.2	Continued Participation in Foreign EMC Plans. After the IPO Date, EMC shall permit VMware Employees working outside of the United States to enroll and participate in, or to
continue to be eligible and/or participate in, the EMC Plans pursuant to the arrangements in place immediately prior to the IPO Date, or on terms substantially similar to the terms of such arrangements, as the case may be, including the
reimbursement arrangements between the parties, unless and until VMware provides EMC with at least ninety (90) days’ written notice of its intention to discontinue the participation of some or all such employees in the EMC Plans.

 ARTICLE V 
 INCENTIVE AND EQUITY COMPENSATION MATTERS 
  

	5.1	 EMC Equity Incentive Plans. All outstanding options to purchase shares of EMC and other EMC equity awards held by VMware Employees and the EMC Transferees
that are not exchanged pursuant to the Exchange Offer shall continue to vest and remain outstanding 

  

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until the earlier of (i) the date the option or other award is exercised or expires under the terms of the award agreement or (ii) the date the
employee is deemed to have “terminated” as defined in the plan under which the award was granted or, if later, the end of any post-termination exercise period specified in the award agreement or by the plans’ administrative
committees. 

  

	5.2	Approval of Plans. Prior to the IPO Date, VMware shall adopt (i) the VMware, Inc. 2007 Equity and Incentive Plan (the “2007 Plan”), and (ii) an employee
stock purchase plan intended to comply with the requirements of Section 423 of the Code (the “VMware ESPP”), and EMC shall approve each such plan as VMware’s sole shareholder prior to the IPO Date. 

  

	5.3	EMC Employee Stock Purchase Plan. EMC shall take such action as is necessary or appropriate to cause VMware and each VMware Entity to cease to be participating entities in
the EMC Employee Stock Purchase Plan (the “EMC ESPP”) effective as of the IPO Date and the cash balance in the accounts of all VMware Employees shall be administered in accordance with the terms of the EMC ESPP. 

 

	5.4	Registration Requirements. Within six (6) months after the IPO Date, VMware agrees that it shall cause to be registered pursuant to the Securities Act of 1933, as
amended, any shares of VMware Common Stock authorized for issuance under the 2007 Plan, the VMware ESPP and the VMware 401(k) Plan. EMC shall use commercially reasonable efforts to assist VMware in completing any such registrations.

 ARTICLE VI 
 EXCLUSIVE OWNERSHIP OF DEVELOPMENTS AND BENEFITS OF EMPLOYMENT OF EMC TRANSFEREES 
  

	6.1	Ownership of Developments. EMC intends and agrees that all work product created by the EMC Transferees, regardless of whether it is eligible for protection under patent,
copyright, trademark or trade secret law (hereinafter, “Work Product”) that is created, invented, developed or conceived in the course of such employees’ performance of duties solely for the benefit of VMware shall be considered
“works made for hire” by such employees for VMware, and all rights and intellectual property rights therein shall be owned by VMware. To the extent that any such Work Product is deemed by the parties not to be “works made for
hire” or not otherwise initially owned by VMware, and to the extent any such Work Product is mutually deemed by the parties to be owned exclusively by EMC, EMC and its Affiliated Companies hereby assign all right, title and interest (subject,
however, to EMC’s intellectual property rights therein), including, without limitation, all intellectual property rights exclusively arising therein to VMware. To the extent any court of competent jurisdiction holds such assignment to be
invalid with respect to any specific Work Product, the above assignment shall be deemed modified to a worldwide, perpetual, irrevocable, royalty-free, transferable, sublicensable license with respect thereto, and the above assignment to VMware of
all other Work Product of such employees shall not be affected thereby. 

  

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	6.2	Further Actions. EMC and its Affiliated Companies shall promptly disclose all past, current and future Developments to VMware and make available to VMware any work papers,
models, diskettes, computer tapes or other intangible incidents of such Developments. EMC and its Affiliated Companies agree to perform, at VMware’s request and expense, any acts that may be necessary or desirable to vest, protect and perfect
ownership of the rights set forth in Section 6.1 above by VMware. 

 ARTICLE VII 
 GENERAL AND ADMINISTRATIVE 
  

	7.1	Payment of Liabilities. VMware shall continue to pay or reimburse EMC promptly for the services rendered by the EMC Transferees after the IPO Date in accordance with the
arrangements in place between EMC and VMware immediately prior to the IPO Date unless and until such EMC Transferees commence employment with VMware or a VMware Entity pursuant to the provisions of Section 2.4 hereof. 

 

	7.2	Sharing of Participant Information. EMC and VMware shall share, EMC shall cause each applicable EMC Entity to share, and VMware shall cause each applicable VMware Entity to
share, with each other and their respective agents and vendors (and without obtaining releases unless otherwise required by applicable law) all participant information necessary for the efficient and accurate administration of each of the EMC Plans
and the VMware Plans. EMC and VMware and their respective authorized agents shall, subject to applicable laws on confidentiality, be given reasonable and timely access to, and may make copies of, all information relating to the subjects of this
Agreement in the custody of the other party, to the extent necessary for such administration. Until the consummation of the IPO, all participant information shall be provided in the manner and medium applicable to Participating Companies in the EMC
Plans generally, and thereafter until the time at which the parties subsequently determine, all participant information shall be provided in a manner and medium that are compatible with the data processing systems of EMC as in effect as of the
consummation of the IPO, unless otherwise agreed to by EMC and VMware. 

  

	7.3	Confidentiality and Proprietary Information. No provision of the Master Transaction Agreement or this Agreement shall be deemed to release any individual for any violation of
any agreement or policy pertaining to confidential or proprietary information of EMC or any of its Affiliated Companies or of VMware or any of its Affiliated Companies, respectively, or otherwise relieve any individual of his or her obligations
under any such agreements or policies. 

  

	7.4	 Non-Termination of Employment; No Third Party Beneficiaries. No provision of this Agreement or the Master Transaction Agreement shall be construed to
(i) create any right, or accelerate entitlement, to any compensation or benefit whatsoever on the part of any future, present, or former employee of EMC, an EMC Entity, VMware, or a VMware Entity under any EMC Plan or VMware Plan or otherwise
or (ii) to be for the benefit of or otherwise enforceable by employee, creditor or any other third party. Without limiting the 

  

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generality of the foregoing: (i) except as expressly provided in this Agreement, neither the occurrence of the consummation of the IPO nor any
termination of the Participating Company status of VMware or a VMware Entity shall cause any employee to be deemed to have incurred a termination of employment which entitles such individual to the commencement of benefits under any of the VMware
Plans; (ii) except as expressly provided in this Agreement, nothing in this Agreement shall preclude VMware or any VMware Entity, at any time after the consummation of the IPO, from amending, merging, modifying, terminating, eliminating,
reducing, or otherwise altering in any respect any VMware Plan, any benefit under any Plan or any trust, insurance policy or funding vehicle related to any VMware Plan; and (iii) except as expressly provided in this Agreement, nothing in this
Agreement shall preclude EMC or any EMC Entity, at any time prior to or after the consummation of the IPO, from amending, merging, modifying, terminating, eliminating, reducing, or otherwise altering in any respect any EMC Plan, any benefit under
any Plan or any trust, insurance policy or funding vehicle related to any EMC Plan. 

  

	7.5	Fiduciary Matters. EMC and VMware each acknowledge that actions required to be taken pursuant to this Agreement may be subject to fiduciary duties or standards of conduct
under ERISA or other applicable law, and no party shall be deemed to be in violation of this Agreement if it fails to comply with any provisions hereof based upon its good faith determination that to do so would violate such a fiduciary duty or
standard. Each party shall be responsible for taking such actions as are deemed necessary and appropriate to comply with its own fiduciary responsibilities and shall fully release the other party for any Liabilities imposed on such party pursuant to
the provisions of this Agreement by the failure to satisfy any such responsibility. 

  

	7.6	Consent of Third Parties. If any provision of this Agreement is dependent on the consent of any third party (such as a vendor) and such consent is withheld, EMC and VMware
shall use commercially reasonable efforts to implement the applicable provisions of this Agreement to the full extent practicable. If any provision of this Agreement cannot be implemented due to the failure of such third party to consent, EMC and
VMware shall negotiate in good faith to implement the provision in a mutually satisfactory manner. The phrase “commercially reasonable efforts” as used herein shall not be construed to require the incurrence of any non-routine or
unreasonable expense or liability or the waiver of any right. 

  

	7.7	Cooperation. The parties agree to, and to cause their Affiliated Companies to, cooperate and use reasonable efforts to promptly (a) comply with all requirements of this
Agreement, ERISA, the Code and other laws which may be applicable to the matters addressed herein, and (b) subject to applicable law, provide each other with such information reasonably requested by the other party to assist the other party in
administering its plans and programs and complying with applicable law and regulations and the terms of this Agreement. 

  

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 ARTICLE VIII 
 MISCELLANEOUS 

	

	8.1	Consent. Any consent of either party pursuant to this Agreement shall not be effective unless it is in writing and evidenced by the signature of the General Counsel of such
party (or such other person that the General Counsel has specifically authorized in writing to give such consent). 

  

	8.2	Limitation of Liability. IN NO EVENT SHALL ANY MEMBER OF THE EMC GROUP OR VMWARE GROUP BE LIABLE TO ANY OTHER MEMBER OF THE EMC GROUP OR VMWARE GROUP FOR ANY SPECIAL,
CONSEQUENTIAL, INDIRECT, INCIDENTAL OR PUNITIVE DAMAGES OR LOST PROFITS, HOWEVER CAUSED AND ON ANY THEORY OF LIABILITY (INCLUDING NEGLIGENCE) ARISING IN ANY WAY OUT OF THIS AGREEMENT, WHETHER OR NOT SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF
SUCH DAMAGES; PROVIDED, HOWEVER, THAT THE FOREGOING LIMITATIONS SHALL NOT LIMIT EACH PARTY’S INDEMNIFICATION OBLIGATIONS FOR LIABILITIES AS SET FORTH IN ANY ANCILLARY AGREEMENT. 

  

	8.3	Entire Agreement. This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and thereof and shall supersede all prior
written and oral and all contemporaneous oral agreements and understandings with respect to the subject matter hereof and thereof. 

  

	8.4	Governing Law and Jurisdiction. This Agreement, including the validity hereof and the rights and obligations of the parties hereunder, shall be construed in accordance with
and all Disputes hereunder shall be governed by the laws of The Commonwealth of Massachusetts applicable to contracts made and to be performed entirely in such Commonwealth (without giving effect to the conflicts of laws provisions thereof). The
Parties agree that the courts of The Commonwealth of Massachusetts shall have exclusive jurisdiction over all actions between the Parties. 

  

	8.5	Termination; Amendment. Subject to any undertaking given by either or both parties hereto, this Agreement may be terminated or amended at any time by mutual consent of EMC
and VMware, evidenced by an instrument in writing signed on behalf of each of the parties. In the event of termination pursuant to this Section 8.5, no party shall have any liability of any kind to the other party. 

  

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	8.6	Notices. Notices, offers, requests or other communications required or permitted to be given by either party pursuant to the terms of this Agreement shall be given in writing
to the respective Parties to the following addresses: 

 if to EMC: 
 EMC Corporation 
 176 South Street

 Hopkinton, MA 01748 
 Attention: Office of the General Counsel 
 Facsimile: (508) 497-6915 
 if to VMware: 
 VMware Inc. 
 3145 Porter Drive 
 Palo Alto, CA 94304

 Attention: Office of the General Counsel 
 Fax: [    ] 
 with a copy to: 
 [    ] 
 Attention:

 Fax: 
 or to such other
address or facsimile number as the party to whom notice is given may have previously furnished to the other in writing as provided herein. Any notice involving non-performance, termination, or renewal shall be sent by hand delivery, recognized
overnight courier or, within the United States, may also be sent via certified mail, return receipt requested. All other notices may also be sent by facsimile, confirmed by first class mail. All notices shall be deemed to have been given when
received, if hand delivered; when transmitted, if transmitted by facsimile or similar electronic transmission method; one working day after it is sent, if sent by recognized overnight courier; and three days after it is postmarked, if mailed first
class mail or certified mail, return receipt requested, with postage prepaid. 
  

	8.7	Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed to be an original but all of which shall constitute one and the same agreement.

  

	8.8	Binding Effect; Assignment. This Agreement shall inure to the benefit of and be binding upon the Parties hereto and their respective legal representatives and successors, and
nothing in this Agreement, express or implied, is intended to confer upon any other Person any rights or remedies of any nature whatsoever under or by reason of this Agreement. This Agreement may be enforced separately by each member of the EMC
Group and each member of the VMware Group. Neither party may assign this Agreement or any rights or obligations hereunder, without the prior written consent of the other party, and any such assignment shall be void; provided, however, either party
may assign this Agreement to a successor entity in conjunction with such party’s reincorporation in another jurisdiction or into another business form. 

  

	8.9	 Severability. If any term or other provision of this Agreement is determined by a court, administrative agency or arbitrator to be invalid, illegal or
incapable of being enforced by any rule of law or public policy, all other conditions and provisions of this Agreement shall 

  

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nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner
materially adverse to either party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original
intent of the parties as closely as possible in an acceptable manner to the end that transactions contemplated hereby are fulfilled to the fullest extent possible. 

  

	8.10	Failure or Indulgence not Waiver; Remedies Cumulative. No failure or delay on the part of either party hereto in the exercise of any right hereunder shall impair such right
or be construed to be a waiver of, or acquiescence in, any breach of any representation, warranty or agreement herein, nor shall any single or partial exercise of any such right preclude other or further exercise thereof or of any other right. All
rights and remedies existing under this Agreement are cumulative to, and not exclusive of, any rights or remedies otherwise available. 

  

	8.11	Authority. Each of the parties hereto represents to the other that (a) it has the corporate or other requisite power and authority to execute, deliver and perform this
Agreement, (b) the execution, delivery and performance of this Agreement by it have been duly authorized by all necessary corporate or other actions, (c) it has duly and validly executed and delivered this Agreement, and (d) this
Agreement is a legal, valid and binding obligation, enforceable against it in accordance with its terms subject to applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally and
general equity principles. 

  

	8.12	Interpretation. The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement.

  

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 IN WITNESS WHEREOF, the parties have caused this Employee Benefits Agreement to be duly executed as of
the day and year first above written and the parties agree that this Employee Benefits Agreements shall have been entered into after the execution of the Intellectual Property Agreement by the parties hereto. 
  

			
	EMC CORPORATION
	
	
 Name:

	 Title:
	 	
	
	 VMWARE, INC.

	
	
 Name:

	 Title:
	 	

  

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 Schedule A 
 List of EMC Transferees 

 Schedule B 
 List of U.S. Health and Welfare Benefit Plans 
  

	1.	medical insurance plans, including prescription drug coverage 

  

	2.	dental insurance plan 

  

	3.	vision services plan 

  

	4.	life and accidental death insurance and dismemberment insurance 

  

	5.	short and long term disability insurance 

  

	6.	FSA – flexible spending accounts 

  

	 	(i)	healthcare reimbursement account 

  

	 	(ii)	dependent care reimbursement accountForm of Real Estate Agreement

 Exhibit 10.6 
 REAL ESTATE LICENSE AGREEMENT 
 This REAL ESTATE LICENSE AGREEMENT (this “License Agreement”) is
made as of the [    ] of [            ] 2007, between EMC Corporation, a Massachusetts Corporation having its principal office at 176 South Street,
Hopkinton, Massachusetts (“Licensor”), and VMware, Inc., a Delaware Corporation having its principal office at 3401 Hillview Drive, Palo Alto, California (“Licensee”). 
 WITNESSETH: 
 WHEREAS, by those certain lease agreements set forth on Schedule I
annexed hereto and incorporated herein (the “Leases” and individually “Lease”), Licensor did hire and lease those certain spaces more particularly described in the Leases (the “Premises”) and is the current holder of
the leasehold estates created thereby; 
 WHEREAS, the parties desire, by this License Agreement, to provide for the licensing by Licensor to
Licensee of the right to use and occupy certain spaces as set forth in Schedule II, annexed hereto and made a part hereof (each space to be referred to herein as a “License Area” and collectively the “License Areas”), each of
which is located in the Premises as set forth in the related Leases; and 
 NOW, THEREFORE, in consideration of the mutual agreements herein
contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby covenant and agree as follows: 
 1. License. 
 (a) Licensor hereby grants to Licensee a license (the “License”) to use and occupy
the License Areas and rights of access thereto for the purposes hereinafter provided along with the right to use all equipment, furniture and fixtures, including communications and information systems equipment, cabling and appurtenant items that
are owned by Licensor and located in the License Areas as of the “Commencement Date” (as such term is defined hereafter), for the applicable “License Period” (as such term is defined in paragraph 2 hereof). In connection with its
use of each License Area, Licensee shall also have the non-exclusive right to use (a) in common with Licensor and the other occupants of the building in which the Premises are located, the common areas outside the Premises that Licensor has the
right to use and (b) in common with the Licensor and the other occupants of the Premises, the hallways, stairways, elevators, restrooms, kitchens, break rooms, photocopy rooms, facsimile rooms, conference rooms and other areas of the Premises
(including the equipment and supplies located therein) that may be reasonably necessary for Licensee’s use of the Premises, except those areas that Licensor may reasonably designate as private for security reasons. 
 (b) Licensee has inspected and is familiar with the License Areas and accepts same and the contents thereof in their “as is” condition as of
the Commencement Date. Licensor shall not be required to perform any work or furnish any materials in order to prepare the License Areas for Licensee’s occupancy. 

 2. License Period. 
 (a) The License Period for each License Area shall commence on [            ] [    ], 2007 (the “Commencement
Date”) and, subject to the provisions of subparagraphs (b) and (c) below (as and to the extent applicable), shall expire (subject to sooner termination as hereinafter provided) at 11:59 P.M. on the date (the “Expiration
Date”) that is one (1) day prior to the expiration date of the term of the related Lease covering the related License Area, unless sooner terminated pursuant to any term or provision hereof or pursuant to law. For the avoidance of doubt,
Schedule [X] annexed hereto and incorporated herein sets forth the license periods for each License Area. 
 (b) Notwithstanding the
foregoing, either party may terminate this License Agreement as to a License Area by delivering written notice to the other party. Such notice shall be delivered not less than three (3) month’s prior to the desired early termination date
as to License Areas which are occupied by less than twenty (20) Licensee Personnel (defined below) and not less than six (6) month’s prior to the desired early termination date as to License Areas which are occupied by twenty
(20) or more Licensee Personnel, or such other periods as may be mutually agreed by Licensor and Licensee. In such event, this License Agreement shall terminate as to such License Area on the early termination date specified in such termination
notice as if such date was the Expiration Date of this License Agreement as to such License Area. If Licensor is the party that provides such notice as to a License Area, however, Licensor shall reimburse Licensee for the unamortized cost (amortized
on a straight line basis over the term of the applicable Lease) of any alterations to the applicable Premises made by Licensee prior to the date of such notice. 
 (c) In the event the term of a Lease covering a License Area shall sooner terminate in accordance with the provisions thereof (e.g., by reason of casualty or condemnation), the License Period for the License Area
shall automatically terminate on the date of such termination of such Lease. Licensor shall give Licensee reasonable prior notice of any such termination. 
 (d) Licensor will not, without Licensee’s prior written consent, enter into an amendment to any Lease which will increase Licensee’s obligations or decrease Licensee’s rights hereunder or have a
material adverse effect on Licensee’s occupancy of the related License Area covered thereby or Licensee’s permitted use of such License Area. 
 3. License Fee. Licensee shall pay a license fee for the License Areas at rates, in the manner, and on the dates set forth in Schedule III annexed hereto and made a part hereof (the “License Fee”). Except as
provided herein to the contrary or as set forth in Schedule III, the License Fee payable for a particular License Area shall be equal to Licensor’s actual, third party, out-of-pocket costs that accrue after the Commencement Date in occupying,
maintaining and using the Premises in the related Lease (“Cost of Occupancy”) divided by the number of Licensor (including any subsidiary or affiliate, including Licensee) employees, agents, and/or representatives (collectively,
“Licensor Personnel”) occupying the Premises multiplied by the number of Licensee employees, agents, and/or representatives (collectively, “Licensee Personnel”) 

  

 2 

 
occupying the related License Area; provided, however, (a) the License Fee as to any License Area shall not increase over the amount set forth on
Schedule III hereof as a result of a decrease in the number of non-Licensee Personnel in the Premises, (b) Licensor shall not charge Licensee a higher Cost of Occupancy than it charges any other groups or departments within Licensor for
occupancy costs in a Premises, (c) Licensor shall not include in the Cost of Occupancy for any License Area any expenses (other than normal rent payments under a Lease) in excess of $10,000 without Licensee’s prior written consent and
(d) the Cost of Occupancy shall not include (i) costs occasioned by casualties or condemnation (including insurance deductibles), (ii) costs to comply with any law applicable to the Premises or the project in which the Premises are
located on the Commencement Date, (iii) costs incurred in connection with the presence of any hazardous material, except to the extent caused by the release or emission of the hazardous material in question by Licensee Personnel,
(iv) costs which could properly be capitalized under generally accepted accounting principles, except to the extent amortized over the useful life of the capital item in question, (v) costs due to Licensor’s default under a Lease or
(vi) costs that exclusively benefit or apply to portions of the Premises other than the License Areas. Licensor, in its reasonable discretion, shall determine its Cost of Occupancy based on principles consistent with Generally Accepted
Accounting Principles (GAAP) or other commercially reasonable standard consistent with accounting practices used in similar buildings the License Area is located in, with the concurrence of Licensee’s finance department. Licensee or its
authorized representative shall have the right to inspect the books of Licensor, for the purpose of verifying the costs included in the Cost of Occupancy, and Licensor and Licensee shall work together reasonably and in good faith to equitably
resolve any amounts that Licensee may question. The number of Licensor Personnel and Licensee Personnel occupying each License Area shall be determined in a fair, equitable and consistent manner as of the end of each month during the term of this
License Agreement. 
 4. Services. Licensee acknowledges that in some of locations of the License Areas, a third-party landlord provides
services to such locations. Licensor shall reasonably cooperate with Licensee so as to enable Licensee to obtain such services, but the foregoing shall not require Licensor to institute any action or proceeding against a landlord. To the extent that
any services to a License Area has been supplied directly by Licensor, then Licensor shall continue to provide such services to such License Area during the related License Period and Licensee shall be responsible for its pro rata share of
Licensor’s out-of-pocket costs in connection therewith. Licensor shall provide such services to such License Area in substantially the same manner and quality as Licensor has provided the same to the License Area prior to the Commencement Date
or in substantially the same manner and quality as Licensor provides such services to itself. Licensor hereby grants to Licensee the right to receive all of the services and benefits with respect to the License Areas which are to be provided by the
related landlord under the Leases. Notwithstanding the foregoing, although the parties contemplate that the landlords will, in fact, perform their obligations under the Leases, in the event of any default or failure of such performance by any of the
landlords, Licensor will, upon the specific written request of Licensee, make demand upon such 
 landlord(s) to perform its obligations under the related
Lease. 
  

 3 

 5. Uses. Licensee shall only use and occupy a License Area as permitted as a permitted use under the
related Lease and for no other purpose except (and only to the extent permitted under the terms of the related Leases) as may be reasonably agreed upon in writing by Licensor and Licensee. Nothing in this paragraph shall require Licensee to use and
occupy a License Area, except to the extent Licensor is required to use or occupy same under the terms of the related Lease. 
 6. Compliance
with Law; Observance of Lease Provisions. 
 (a) To the extent required of the tenant under a related Lease, Licensee shall promptly comply
with all present and future applicable laws and regulations of all state, Federal, municipal and local governments, departments, commissions and boards and any direction of any public officer pursuant to law, and all orders, rules and regulations of
any Board of Fire Underwriters or any similar body (all of the foregoing being hereinafter collectively referred to as “Laws”) having jurisdiction which shall impose any violation, order or duty upon Licensor, any landlord of Licensor or
Licensee with respect to the related License Area, to the extent only, however, that such compliance relates to Licensee’s particular manner of use of the related License Area as opposed to the mere use for the purposes herein permitted.

 (b) To the extent that for a related License Area, the Licensee is not required to comply with any Laws pursuant to subparagraph
(a) above, Licensor shall (to the extent required under a related Lease) comply with such Laws applicable to the related License Area or, if applicable, Licensor shall exercise reasonable efforts to require its third-party landlord to comply
with such Laws (to the extent such compliance is the obligation of such landlord under the terms of the related Lease to Licensor). 
 (c) To
the extent required under a related Lease, Licensor shall obtain the consent of the related landlord for Licensee to license the related License Area. Licensor shall promptly be reimbursed by Licensee for any actual costs incurred by Licensor in
obtaining such consents from the landlord, not to exceed $1,000 per Lease. Licensor shall also cause each landlord to extend to Licensee the benefit of the release and waiver of subrogation in each Lease. 
 (d) Licensee shall not violate applicable provisions of any Lease governing the manner of use of the related License Area, the use of building elevators,
building common areas, and similar provisions, so as to cause a default thereunder. 
 (e) This License Agreement is subject to, and Licensee
accepts this License Agreement subject to, all the terms, covenants, provisions, conditions and agreements contained in the Leases and the matters to which the related landlords are subject and subordinate, all of which are made a part of this
License Agreement as though fully set forth herein as if Licensee were the Tenant named therein and Licensor were the landlord named therein. This License Agreement shall also be subject to, and Licensee accepts this License Agreement also subject
to, any amendments and supplements to the Leases hereafter made between any landlord and Licensor provided the same do not limit the rights or expand the obligations of Licensee hereunder in any material respect or interfere with Licensee’s use
or occupancy of a License Area or 

  

 4 

 
related parking rights. Licensee covenants and agrees (i) not to violate any covenant, condition and provision of the related Leases as applicable to
the related License Area (including the Building rules and regulations) and (ii) that Licensee will not do or cause to be done or suffer or permit its agents or employees to do any act or thing which would or might cause the landlord or the
rights of Licensor as tenant thereunder to any Lease be cancelled, terminated or forfeited or make Licensor liable for any damages, claim or penalty. Licensor (A) will not do or cause to be done or suffer or permit any act or thing to be done
which would or might cause a Lease or the rights of Licensee thereunder (through this License Agreement) to be cancelled, terminated or forfeited or make Licensee liable for damages, claims or penalty or that could result in a substantial
interference with Licensee’s use of the Premises or materially increase Licensee’s obligations or decrease Licensee’s rights under this License Agreement without, in each instance, Licensee’s prior written consent, (B) will
not voluntarily terminate a Lease or take any action that could give rise to a termination right under a Lease without the prior consent of Licensee, (C) shall perform all of its obligations under each Lease to the extent Licensee has not
expressly agreed to perform such obligations under this License Agreement and (D) shall deliver to Licensee promptly upon receipt or delivery copies of all default notices under a Lease sent or received by Licensor. 
 (f) In the event Licensee is in default under any of the terms of this Agreement and such default is not cured within applicable notice and cure periods,
Licensor shall have the same rights and remedies against Licensee as are available to the related landlord against Licensor for that particular License Area and Licensor shall have the right enter such License Area and cure the same at the sole cost
and expense of Licensee. 
 7. Repairs. Licensee, throughout the License Period, shall take good care of the License Areas and the fixtures
and appurtenances therein in neat, orderly condition. Licensor, throughout the License Period, shall otherwise maintain the Premises as required of the tenant pursuant to the terms of the related Leases. In the event a particular Lease is silent on
Licensor’s obligations to repair, then in addition to Licensor’s obligations above, Licensor, for that particular License Area, shall also be responsible for the cost to repair any damage other than damage from the elements, fire or other
casualty to the building of such License Area forms a part or caused by a third-party landlord or their respective, agents, employees, sublessees, licensees or invitees. Licensor shall make, or exercise reasonable efforts to cause to be made by such
related landlord responsible for such repairs, all necessary structural and other repairs (for which Licensee or Licensor is not responsible pursuant to the provisions hereof) to the License Area. 
 8. Damage and Destruction 
 (a) Neither
Licensor nor Licensee shall have any responsibility to each other in the event of any damage to or theft of any equipment or property of the other party except if caused by the gross negligence or willful misconduct of such party, and the party
incurring such loss shall look to its own insurance coverage, if any, for recovery in the event of any such damage, loss or theft. 
  

 5 

 (b) If a License Area is destroyed or damaged by fire or other casualty, the License Fee as to such
License Area shall abate (entirely if all or substantially all of the License Area is damaged and rendered untenantable and proportionately if only a portion of the License Area is damaged and rendered untenantable) from the date of the casualty to
the date by which (as provided in the Lease covering the License Area) the related landlord or Licensor shall have repaired and restored the License Area or damaged portion thereof (but not Licensee’s property and equipment therein) to
substantially the same condition it was in prior to the occurrence of such casualty. If the casualty or damage occasioned to the License Area, or to the Premises covered by the related Lease, of which the damaged License Area forms a part, shall be
so extensive as to entitle either or both of the landlord and Licensor to terminate the Lease, and either such landlord or Licensor shall terminate the Lease therefor in accordance with the terms thereof, then this License Agreement with respect to
the License Area shall automatically terminate on the Lease termination date, as provided in paragraph 2(b) hereof. 
 (c) In the event of
the occurrence of a casualty or condemnation which affords Licensor a right under the Lease to terminate the Lease by reason of such casualty or condemnation, then Licensee shall have the exclusive right to determine whether to exercise such right
of termination in its sole and absolute discretion. 
 9. Insurance/Indemnity. 
 (a) To the extent carrying such insurance is not Licensor’s responsibility under another agreement between Licensor and Licensee, Licensee shall
maintain in full force and effect throughout the related License Periods with respect to the related License Area the insurance (other than property insurance as to alterations in the Premises or equipment owned by Licensor in the Premises, which
insurance Licensor shall carry) required to be maintained by Licensor under the related Lease. Upon request by Licensor, if Licensee carries such insurance separate from Licensor, Licensee shall provide evidence of such insurance to Licensor in
accordance with the requirements of the related Lease. 
 (b) Indemnification of Licensor. Per each License Area, Licensee shall owe the same
indemnification obligations to Licensor as set forth in the Lease covering such License Area as if the words “Owner” or “Landlord” and “Tenant” or “Lessee” or words of similar import, wherever the same appear
in the related Lease pertaining to indemnification were construed to mean, respectively, “Licensor” and “Licensee”; provided, however, when such indemnities exclude the negligence, willful misconduct or other actions of the
actual owner or landlord of the Premises, such references to “Owner” or “Landlord” shall mean both the actual landlord or owner of the Premises and Licensor. To the extent a Lease is silent on the indemnification obligations
running from the “Tenant” to “Landlord”, then for that related License Area, Licensee shall indemnify, defend and hold Licensor, and any partner, officer, agent, employee and director of Licensor (the “Licensor
Indemnitees”) harmless from and shall defend the Licensor Indemnitees against all claims made or judicial or administrative actions filed which allege that any one of the Licensor Indemnitees is liable to the claimant (other than to the extent
caused by or arising from a Licensor Indemnitee’s negligence or willful misconduct) by reason of (i) any injury to or death of any person, or damage to or loss of 

  

 6 

 
property, or any other thing occurring on or about the License Area or the Premises, or in any manner growing out of, resulting from or connected with the
use, condition or occupancy of, the License Area or the Premises, if caused by any negligent act or willful misconduct of Licensee or its agents, partners, contractors, employees, permitted assignees, licensees, sublessees, invitees or any other
person or entity for whose conduct Licensee is legally responsible, (ii) violation by Licensee of any contract or agreement to which Licensee is a party in each case affecting the License Area or the occupancy or use thereof by Licensee and
(iii) violation of or failure to observe or perform any condition, provision or agreement of this License Agreement on Licensee’s part to be observed or performed hereunder. Licensor shall similarly indemnify, defend and hold Licensee, and
any partner, officer, agent, employee and director of Licensee (the “Licensee Indemnitees”) harmless from and shall defend the Licensee Indemnitees against all claims made or judicial or administrative actions filed which allege that any
one of the Licensee Indemnitees is liable to the claimant (other than to the extent caused by or arising from a Licensee Indemnitee’s negligence or willful misconduct) by reason of (i) any injury to or death of any person, or damage to or
loss of property, or any other thing occurring on or about the Premises, or in any manner growing out of, resulting from or connected with the use, condition or occupancy of, the Premises, if caused by any negligent act or willful misconduct of
Licensor or its agents, partners, contractors, employees, permitted assignees, licensees, sublessees, invitees or any other person or entity for whose conduct Licensor is legally responsible (other than Licensee), (ii) violation by Licensor of
any contract or agreement to which Licensor is a party in each case affecting the Premises or the occupancy or use thereof by Licensor and (iii) violation of or failure to observe or perform any condition, provision or agreement of this License
Agreement on Licensor’s part to be observed or performed hereunder. In addition, to the extent that Licensor is the beneficiary of an indemnity or release from the landlord under a Lease, Licensor shall similarly indemnify or release Licensee.

 10. Assignment; Sublicensing. The License granted hereby is personal to Licensee and shall not be assigned nor shall Licensee sublicense
or otherwise permit or suffer the occupancy of any/all License Area(s) by any third party without first obtaining the prior written consent of Licensor and if required by the related Lease, the landlord. Notwithstanding the foregoing, Licensee may,
without Licensor’s prior written consent and without constituting an assignment or sublicense hereunder, assign this License Agreement or sublicense any of the License Areas to (a) an entity controlling, controlled by or under common
control with Licensee, (b) a successor entity related to Licensee by merger, consolidation or reorganization, or (c) a purchaser of a substantial portion of Licensee’s assets. A sale or transfer of Licensee’s stock shall not be
deemed as assignment or sublicense. Similarly, Licensor shall not assign any Lease or sublet any Premises without the prior written consent of Licensee, which shall not be unreasonably withheld or delayed, and if required by the related Lease, the
landlord. 
  

 7 

 11. Alterations; Restoration. 
  

	 	(a)	Commingled Space. In the event that all or a part of a License Area is not physically segregated by demising walls from Licensor’s space: 

  

	 	(i)	No alterations may be made by Licensee to the License Area without first obtaining (A) the prior written consent of Licensor, which may be withheld in its reasonable discretion
and (B) if required by the related Lease, the prior written consent of the related landlord of such Lease (which Licensor shall request from such landlord). 

  

	 	(ii)	Licensor, at the time of giving consent to any alterations by Licensee, shall notify Licensee if any such alterations must be removed and the License Area restored, at the
expiration or sooner termination of the applicable License Period. 

  

	 	(b)	Physically Segregated Space. In the event that a License Area is physically segregated by demising walls from the Licensor’s space: 

  

	 	(i)	Licensee may make any alterations to the License Area to the extent permitted by (and in accordance with) the terms of the related Lease, provided that Licensee obtains the prior
written consent thereto of Licensor which shall not be unreasonably withheld, conditioned or delayed. 

  

	 	(ii)	In the event Licensee shall desire to make any alterations to the License Area, Licensee shall provide Licensor prior written notice thereof, specifying in Licensee’s notice
the scope and location of the desired alteration(s) as necessary to enable Licensor to formulate a judgment as to the effect such alteration(s) would have upon the building and its systems, and Licensor’s use of, and operation within, that
portion of the Premises not constituting the License Area (the “Retained Space”), except that, subject to approval of the related landlord if required by the related Lease, Licensor approves the installation of information systems cabling,
electrical distribution circuitry and finishes appurtenant thereto. Licensor shall not have any consent rights to such alteration, except Licensor may refuse to allow such alteration if in Licensor’s reasonable judgment such alteration would
materially adversely affect Licensor’s use of the Retained Space. 

  

	 	(iii)	Any costs associated with making such alterations, including, but limited to, construction or increased operating costs shall be borne by Licensee. 

  

	 	(c)	 Performance of Alterations. Upon request by Licensee, Licensor shall perform any requested alteration for Licensee. Before commencing such work, Licensor shall
obtain Licensee’s approval of a binding estimate of the time and cost to perform such alteration. Upon receipt of such approval, Licensor shall perform 

  

 8 

	 	 
such work in accordance with the time estimate provided to Licensee in a good and workmanlike manner, in accordance with all laws and plans approved by
Licensee. Promptly upon the completion of such work, Licensee shall reimburse Licensee its actual costs to perform such work, not to exceed the amount set forth in the approved budget. 

 12. Default. If either party defaults in the performance of any of its obligations hereunder with respect to a License Area or the License Areas and such
default continues for more than fifteen (15) days in the case of a monetary default with respect to a License Area, thirty (30) days with respect to any other monetary default hereunder, and thirty (30) days in the case of a
nonmonetary default, in all cases after receipt of written notice from the nondefaulting party (except that if such nonmonetary default cannot be reasonably cured with the exercise of reasonable diligence during said 30-day period, such period shall
be extended for reasonable additional time, provided that the defaulting party has commenced to cure such default within the 30-day period and proceeds diligently thereafter to effect such cure), the nondefaulting party shall have the right to
terminate the License herein granted with respect to the applicable License Area and pursue any other remedies available at law or in equity, except as limited in paragraph 14 hereof. Notwithstanding anything to the contrary herein, Licensee shall
not be in default under this License Agreement if Licensee’s failure to comply with a requirement of this License Agreement is due to Licensor’s failure to provide a service required of Licensor under another agreement between Licensor and
Licensee. 
 13. Limitation of Liability. NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED IN THIS LICENSE AGREEMENT, IN NO EVENT SHALL
EITHER PARTY BE LIABLE TO THE OTHER FOR ANY PUNITIVE, INDIRECT, CONSEQUENTIAL, SPECIAL OR INCIDENTAL DAMAGES, INCLUDING LOSS OF GOODWILL OR LOSS OF PROFITS. 
 14. Notices. 
 (a) Any notice, demand or request under this License Agreement shall be in writing, shall be
addressed as hereinafter provided and delivered by registered or certified mail (return receipt requested) which is delivered by reputable overnight commercial carrier (e.g., Federal Express) or hand-delivered and shall be deemed effective upon
receipt. Any notice, demand or request by Licensor to Licensee shall be addressed to Licensee at its address stated in the preamble hereto, 
 In the case of Licensor: 
 EMC Corporation 
 176 South Street 
 Hopkinton, Massachusetts 01748 
 Attention: Office of the General Counsel 
  

 9 

 In the case of Licensee: 
 VMware, Inc. 
 3401 Hillview Drive 
 Palo Alto, California 94304 
 Attention: Legal
Department 
 And to 
 Director
of Real Estate 
 (b) Rejection or other refusal to accept, or the inability to deliver because of a changed address of which no notice was
given, shall be deemed to be receipt of the notice, demand or request sent. 
 15. Quiet Enjoyment. Licensor covenants and agrees that, so
long as Licensee shall pay the License Fee as and when due and shall otherwise fully, faithfully and timely observe and perform within applicable notice and cure periods the agreements, covenants and conditions of this License Agreement on its part
to be observed and performed with respect to the related License Area, Licensee shall and may peaceably and quietly have, hold and enjoy the related License Area for the related License Period, as same may be extended, without disturbance,
hindrance, ejection or molestation by or from Licensor (subject, however, to the provisions hereof) or any one claiming by, through or under Licensor. 
 16. Waiver of Claims. As to the period from and after the Commencement Date, notwithstanding anything to the contrary herein, each party hereto waives all claims against the other party, its agents and employees for
damage to property sustained by the waiving party resulting from damage to the License Areas or the Premises, as the case may be, its fixtures or any of the waiving party’s personal property, or resulting directly or indirectly from any act or
omission of the other party. This section 16 shall apply especially, but not exclusively, to damage caused by roof leakage, refrigerators, sprinkling devices, air conditioning apparatus, water, steam, excessive heat or cold, falling plaster, broken
glass, sewage, gas, odors or noise, or the bursting or leaking of pipes or plumbing fixtures and shall apply whether any such damage results from the act or omission of Licensor or of any other person, and whether such damage be caused or result
from anything above mentioned or referred to, or be of a different nature. All property belonging to the waiving party or any occupant of the License Areas or the Premises, as the case may be, shall be there at the risk of the waiving party or such
other occupant only, and the other party shall not be liable for damage thereto or theft or misappropriation thereof. The waiving party (and any such occupant) shall look to any insurance coverage that it may have for recovery of any loss or damage
to property that such waiving party or such occupant may sustain. 
 17. Surrender. On the related expiration dates or sooner termination of
the License with respect to the related License Area, Licensee, if requested by Licensor or required by the restoration terms of the related Lease which would be applicable to the related License Area in the event of the expiration or sooner
termination of the related Lease, shall surrender the License Area in neat, orderly condition, ordinary wear and tear, fire and other casualty excepted and remove any alterations made by Licensee after the 

  

 10 

 
Commencement Date as required under Section 11 above. Notwithstanding anything to the contrary contained herein, in no event shall Licensee have any
obligation to restore a License Area to the condition such space was in on the Commencement Date to the extent such restoration related to an alteration which was made to such space prior to the Commencement Date. 
 18. Subordination. The License granted herein is subject and subordinate to all ground and underlying leases affecting the real property of which the
License Areas form a part and to all mortgages which may now or hereafter affect such leases or such real property. Licensor shall use commercially reasonable efforts to obtain a nondisturbance agreement from any holder of an underlying lease,
mortgage or deed of trust as to the applicable Lease. 
 19. Warranties. EXCEPT AS SET FORTH IN THIS LICENSE AGREEMENT, THE PARTIES DO NOT
MAKE ANY WARRANTIES, EXPRESS OR IMPLIED, WITH RESPECT TO THIS LICENSE AGREEMENT, INCLUDING THE WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. 
 20. Inability To Perform. Neither party shall be responsible for delays in the performance of its obligations caused by events beyond that party’s reasonable control, including, but not limited to, acts of God.

 21. Good Faith. The License Areas are of such configuration and is not of such size as to justify, in either case, in the opinion of the
parties, entering into formal leases and/or subleases covering each of the License Area. The parties have therefore entered into this License Agreement which, the parties recognize, is not dispositive of all matters and issues that may arise during
the License Period with respect to the License Area. As and when issues and matters arise during the course of the License Period that are not definitively controlled by the provisions of this License Agreement or the related lease, the parties
shall act reasonably and in good faith endeavor to adjust and resolve such issues and matters. 
 22. No Contact With Landlord. Licensee
shall not, directly or indirectly, communicate with or have contact of any kind with any landlord under the Leases with respect to the License Area or landlord services or repairs or maintenance to be provided to the License Area or with regard to
the Premises (the only exception to the foregoing being if Licensee shall wish to lease space in a building a part of the Premises is located in) the intention hereof being that any communications or contact regarding any of the foregoing (except
with regard to a separate leasing of space in such building by Licensee) shall be made solely to Licensor. 
 23. Landlord’s
Responsibilities. Licensee recognizes that Licensor is not in a position to furnish the services set forth in the Leases; obtain an agreement of nondisturbance, or to perform certain other obligations which are not within the control of Licensor. If
Licensor institutes an enforcement action to compel a landlord under a Lease to perform its obligations with respect not only to the License Area but also with respect to other portions of the Premises, provided Licensee consents thereto (which

  

 11 

 
consent shall not be unreasonably withheld or delayed) the reasonable costs and expenses of such enforcement action shall be equitably apportioned so that,
insofar as can be practically determined, each party shall bear its allocable share of such costs and expenses. 
 24. Signage. Subject to
the related Lease, (i) Licensor shall permit Licensee to install wall signs (whose size, composition and content shall be subject to Licensor’s prior approval, which approval shall not be unreasonably withheld) in the Premises in which the
License Area is located (including the lobbies of such Premises), (ii) Licensor shall afford Licensee its pro rata share (based on the ratio of Licensee Personnel to the sum of Licensor Personnel (including any affiliate and subsidiary but excluding
Licensee Personnel) and Licensee Personnel at the Premises covered by the related Lease) of the listings on, if any, the directory board of the License Area building afforded Licensor pursuant to the related Lease and (iii) as to Premises in
which Licensee Personnel account for more than twenty percent (20%) of the occupancy of such Premises, Licensor shall afford Licensee its pro rata share as set forth in subpart (ii) above of the monument sign for such Premises, if any,
pursuant to the related Lease. At Licensee’s request, Licensor shall reasonably cooperate with Licensee (at no cost to Licensor) to request the applicable landlord’s consent to the installation of any sign, permitted under the Lease but
for which landlord’s consent is required before installing. 
 25. Parking. For each License Area (subject to the terms of the related
Lease covering the License Area), Licensee shall have nonexclusive access to the parking spaces allocated to Licensor under the terms of the related Lease and the number of parking spaces shall be equitably allocated between Licensor and Licensee as
provided in Section 24(ii) above. License shall have access to the parking area to the same extent Licensor has access to the parking area under the related Lease. Licensor shall, at Licensee’s request, reasonably cooperate with Licensee
(at no cost to Licensor) to request the applicable landlord to enable Licensee to obtain additional parking permits to the extent required by Licensee. If Licensor is charged for parking under any or all of the Leases, Licensor and Licensee shall
determine an equitable allocation of such parking charges based on the use of such spaces by Licensee Personnel. 
 26. Miscellaneous.
(a) Counterparts. This License Agreement may be executed in two or more counterparts, each of which will be deemed to be an original, but all of which together will constitute one and the same instrument. 
 (b) Governing Law. This License Agreement shall, with respect to the License Area, be governed by and construed in accordance with the laws of the
particular area in which the related License Area is located. 
 (c) Section Headings. The section titles herein are for convenience only and
do not define, limit or construe the contents of such sections. 
 (d) Attachments and Exhibits. All attachments and exhibits to this License
Agreement are hereby made a part hereof as if fully set out herein. 
  

 12 

 (e) Severability. If any provision or provisions in this License Agreement is/are found to be in
violation of any law or otherwise unenforceable, all other provisions will remain unaffected and in full force and effect. 
 (f) Site
Specific Agreements. The parties shall execute or cause their applicable subsidiaries to execute any additional agreements as may be reasonably necessary to effectuate the intent of this License Agreement. 
 (g) Subsidiaries. If any of the Premises are leased by a subsidiary of Licensor, (a) Licensor shall cause its subsidiary to license the applicable
License Area to Licensee and to perform all of the requirements of Licensor hereunder as to such Premises, (b) such subsidiary may exercise the rights of Licensor hereunder as to such Premises and (c) references herein to Licensor shall
mean Licensor’s subsidiary as to such Premises. In addition, if any of the Premises are currently occupied by a subsidiary of Licensee, (i) Licensee’s subsidiary shall have the right to occupy such License Area and exercise the rights
of Licensee hereunder as to such Premises, (ii) Licensee shall cause its subsidiary to perform all of the obligations of Licensee hereunder as to such License Area and (iii) references herein to Licensee shall mean Licensee’s
subsidiary as to such License Area. 
 (h) Other. Time is of the essence with respect to the performance of every provision of this License
Agreement in which time of performance is a factor. When a party is required to do something by this License Agreement, it shall do so at its sole cost and expense without right of reimbursement from the other party unless specific provision is made
therefor. If either party brings any action or legal proceeding with respect to this License Agreement, the prevailing party shall be entitled to recover reasonable attorneys’ and experts’ fees and court costs. Whenever one party’s
consent or approval is required to be given as a condition to the other party’s right to take any action pursuant to this License Agreement, unless another standard is expressly set forth, such consent or approval shall not be unreasonably
withheld or delayed. This License Agreement may be executed in counterparts. Any executed copy of this License Agreement shall be deemed an original for all purposes. 
 27. Nonliability. Licensor and Licensee agree that neither their respective directors, officers, employees, shareholders nor any of their respective agents shall have any personal obligation hereunder, and that
Licensor and Licensee shall not seek to assert any claim or enforce any of their rights hereunder against such directors, officers, employees, shareholders or agents. 
 28. Binding Effect. This License Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns, and shall not be modified except by an express
written agreement signed by duly authorized representative of both parties. 
 29. Reference to Arbitration. If a dispute between Licensor
and Licensee arises in connection with this License Agreement or any License Area(s), Licensor and Licensee agree that they will first attempt to settle any dispute through direct negotiations between business executives with authority to resolve
the dispute. 

  

 13 

 
Upon receipt by a party of written notice from the other party describing the dispute, each party to the dispute shall promptly designate a senior manager or
officer of the entity most directly involved in the dispute with authority to resolve the dispute. If the designated persons are unable to resolve the dispute within fifteen days of receipt of written notice, either party to the dispute may request
that the respective chief executive officers of the entity most directly involved in the dispute, or their delegees, attempt to resolve such dispute. If the dispute has not been resolved for any reason within thirty (30) days of receipt of
written notice either party may commence legal proceedings to resolve such dispute. 
 30. Cooperation. Should Licensee desire to license
spaces not set forth on Schedule [X], to expand or reduce the size of any License Area, or to renew any license and consequently the related underlying Lease for any space or location set forth on Schedule [X], then the parties agree to cooperate
with each other and to provide reasonable assistance to each other in identifying new spaces and entering into new leases, subleases, or other agreements, as applicable, with landlords and other related third parties as well as to cooperate and work
with one another to reach mutually acceptable terms and provisions to add or subtract such space to this License Agreement. Without limiting any of the obligations herein, for any such space, the parties have decided to memorialize and be bound by
the following terms: 
 (a) Licensor shall be responsible for paying the security deposit, as applicable, associated with entering into a new
lease or sublease with a landlord or other third party. 
 (b) Licensee shall not make any material alterations or construct any material
improvements to any space except as provided in Section 11 above. 
 (c) Within nine (9) months (or such longer period as may be
required under a Lease) prior to the expiration of any Lease or any new lease not set forth on Schedule [__] entered into by either party and which the leased space is shared with or licensed to the other, each party agrees (i) to notify the
other whether it intends to continue sharing the space and (ii) to cooperate in determining which party, if any, shall renew such lease. 
 (d) If Licensor enters into a lease, sublease, or any similar agreement to use and occupy any space, and such space shall be used primarily by Licensee, and Licensor shall not in any material respect occupy the space, then Licensee shall
reimburse Licensor for all actual, reasonable, third party, out of pocket expenses incurred by Licensor in connection with entering into the agreement and complying with the terms thereof. To the extent both parties occupy the space, the calculation
of any license fee, rent or payment of a similar nature shall be determined using the formula for the License Fee set forth in Section 3. 
  

 14 

 This provision shall survive the Term of this License Agreement. 
 IN WITNESS WHEREOF, the parties have duly executed this License Agreement as of the date first above written 
  

									
	LICENSOR:	 		 	EMC Corporation,
		 		 	a Massachusetts corporation
					
		 		 		 	By:	 	  
		 		 		 		 	Name:
		 		 		 		 	Title:
			
	LICENSEE:	 		 	VMware, Inc., a Delaware corporation
					
		 		 		 	By:	 	  
		 		 		 		 	Name:
		 		 		 		 	Title:

  

 15

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