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Exhibit 10.14    
    

 
 

FORM OF AMENDED AND RESTATED INDEMNIFICATION AGREEMENT  
    

        AGREEMENT effective as of January 1, 2008 (the "Effective Date"), between EMC Corporation, a Massachusetts corporation (the "Company"), and
[NAME] (the "Indemnitee"). 

        WHEREAS,
it is essential to the Company to retain and attract as directors and officers the most capable persons available; and 

        WHEREAS,
the Indemnitee is a director or an officer of the Company; and 

        WHEREAS,
both the Company and the Indemnitee recognize the increased risk of litigation and other claims being asserted against directors and officers of public companies in today's
environment; and 

        WHEREAS,
as of the Effective Date the Company is subject to the provisions of the Massachusetts Business Corporation Act (the "Act"); and 

        WHEREAS,
in recognition of the Indemnitee's need for substantial protection against personal liability in order to enhance the Indemnitee's continued service to the Company in an
effective manner, and in part to provide the Indemnitee with specific contractual assurance that all protections permitted by the Act will be available to the Indemnitee, the Company wishes to provide
in this Agreement for the indemnification of and the advancing of expenses to the Indemnitee to the fullest extent (whether partial or complete) permitted by law and as set forth in this Agreement;
and 

        WHEREAS,
the Board of Directors of the Company wishes to provide the Indemnitee with rights to indemnification to the fullest extent permitted by the Act and as set forth in this
Agreement and has approved this agreement for the purposes of the Act, including for the purpose of obligating the Company in advance of any act or omission giving rise to a proceeding to provide
indemnification; and 

        WHEREAS,
the Company and the Indemnitee had entered into that certain Indemnification Agreement, effective as of [INSERT DATE OF ORIGINAL AGREEMENT] (the
"Original Agreement"), and the parties wish to amend and restate the Original Agreement in its entirety; 

        NOW,
THEREFORE, in consideration of the premises and of the Indemnitee continuing to serve the Company directly or, at its request, another enterprise, and intending to be legally bound
hereby, the parties hereto agree as follows: 

        1.    Basic Indemnification Arrangement.    

        (a)   In
accordance with the provisions of the Act, the Company shall, to the extent legally permissible, indemnify the Indemnitee against all liabilities and expenses,
including amounts paid in satisfaction of judgments, in compromise or as fines and penalties, and attorneys' fees or other costs paid or incurred by the Indemnitee in connection with the defense or
disposition of any threatened, pending or completed action, suit or other proceeding, whether civil, criminal, administrative, arbitrative or investigative and whether formal or informal, or any
appeal therefrom, in which the Indemnitee may be involved or with which the Indemnitee was, is or is threatened to be made, while in office or thereafter, a defendant or respondent by reason of the
Indemnitee being or having been a director or an officer of the Company (any such proceeding, a "Proceeding"). 

        (b)   Within
a reasonably prompt period after receipt by the Indemnitee of notice of the commencement of any Proceeding, the Indemnitee shall, if a claim in respect thereof is
intended to be made against the Company under this Agreement, notify the Company of the commencement thereof; however, the failure to notify the Company will not relieve the Company from any liability
that it may have to the Indemnitee. 

        (c)   If
so requested by the Indemnitee, the Company shall advance (within five business days of such request) any and all expenses, including attorneys' fees or other costs,
paid or incurred by the Indemnitee in connection with the defense or disposition of any such action, suit or other proceeding 

 

("Expenses"),
to the Indemnitee (an "Expense Advance") upon receipt by the Company of (i) a written affirmation of the Indemnitee's good faith belief that the Indemnitee has met the relevant
standard of conduct described in the Act or any successor provision of Massachusetts law or that the proceeding involves conduct for which liability has been eliminated under a provision of the
Company's restated articles of organization, as may be further amended (the "Restated Articles"), as authorized by the Act or any successor provision of Massachusetts law, and (ii) a written
undertaking by the Indemnitee to repay the Expense Advance if it is ultimately determined that the Indemnitee is not entitled to indemnification in accordance with this Agreement or the provisions of
the Act or any successor thereto. 

        2.    Change In Control    

        (a)   "Affiliate"
shall have the meaning set forth in Rule 12b-2 promulgated under Section 12 of the Securities Exchange Act of 1934. 

        (b)   "Beneficial
Owner" shall have the meaning set forth in Rule 13d-3 under the Securities Exchange Act of 1934. 

        (c)   A
"Change in Control" shall be deemed to have occurred if any of the events set forth in any one of the following paragraphs shall have occurred: 

	(i)
	any
Person is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing 25% or more of either the then outstanding shares of
common stock of the Company or the combined voting power of the Company's then outstanding securities, excluding any Person who becomes such a Beneficial Owner in connection with a transaction
described in Section 2(c)(iii)(A);

	(ii)
	the
following individuals cease for any reason to constitute a majority of the number of directors then serving: individuals who, on the date hereof, constitute the
Board of Directors of the Company and any new director (other than a director whose initial assumption of office is in connection with an actual or threatened election contest, including but not
limited to a consent solicitation, relating to the election of directors of the Company) whose appointment or election by the Board of Directors or nomination for election by the Company's
stockholders was approved or recommended by a vote of at least two-thirds (2/3) of the directors then in office who either were directors on the date hereof or whose
appointment, election or nomination for election was previously so approved or recommended;

	(iii)
	there
is consummated a merger or consolidation of the Company or any direct or indirect subsidiary of the Company with any other corporation, other than (A) a
merger or consolidation which would result in the voting securities of the Company outstanding immediately prior to such merger or consolidation continuing to represent (either by remaining
outstanding or by being converted into voting securities of the surviving entity or any parent thereof) at least 50% of the combined voting power of the securities of the Company or such surviving
entity or any parent thereof outstanding immediately after such merger or consolidation, or (B) a merger or consolidation effected to implement a recapitalization of the Company (or similar
transaction) in which no Person is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company (not including in the securities Beneficially Owned by such Person any
securities acquired directly from the Company or its Affiliates) representing 25% or more of the combined voting power of the Company's then outstanding securities; or

	(iv)
	the
stockholders of the Company approve a plan of complete liquidation or dissolution of the Company or there is consummated an agreement for the sale or disposition by
the Company of all or substantially all of the Company's assets, other than a sale or disposition by the Company of all or substantially all of the Company's assets to an entity, at least 50% of the 

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combined
voting power of the voting securities of which are owned by stockholders of the Company in substantially the same proportions as their ownership of the Company immediately prior to such sale. 

Notwithstanding
anything in the foregoing to the contrary, no Change in Control shall be deemed to have occurred for purposes of this Agreement by virtue of any transaction which results in the
Indemnitee, or a group of Persons which includes the Indemnitee, acquiring, directly or indirectly, 25% or more of either the then outstanding shares of common stock of the Company or the combined
voting power of the Company's then outstanding securities. 

        (d)   "Disinterested
Director" shall mean a director of the Company who, at the time of a vote referred to in this Section 2 is not (i) a party to the
Proceeding, or (ii) an individual having a familial, financial, professional, or employment relationship with the Indemnitee, which relationship would, under the circumstances, reasonably be
expected to exert an influence on the director's judgment when voting on the decision being made. 

        (e)   "Person"
shall have the meaning given in Section 3(a)(9) of the Securities Exchange Act of 1934, as modified and used in Sections 13(d) and 14(d) thereof,
except that such term shall not include (i) the Company or any of its subsidiaries, (ii) a trustee or other fiduciary holding securities under an employee benefit plan of the Company or
any of its Affiliates, (iii) an underwriter temporarily holding securities pursuant to an offering of such securities or (iv) a corporation owned, directly or indirectly, by the
stockholders of the Company in substantially the same proportions as their ownership of stock of the Company. 

        (f)    In
the event of a Change in Control after the date hereof (other than a Change in Control approved by a majority of the directors on the Board of Directors who were
directors immediately prior to such Change in Control), then with respect to all matters thereafter arising concerning the rights of Indemnitee to indemnity payments under this Agreement or any
Company By-Law or provision of the Company's Restated Articles now or hereafter in effect, the Company shall seek legal advice only from independent counsel who has not otherwise performed
services for the Company or the Indemnitee (other than in connection with indemnification matters) within the last five years selected (i) if there are two or more Disinterested Directors, by
the Board of Directors by a majority vote of all the Disinterested Directors or by a majority of the members of a committee of two or more Disinterested Directors appointed by vote or (ii) if
there are fewer than two Disinterested Directors, by the Board of Directors of the Company; and which in any such case of selection in accordance with clause (i) or (ii) of this section,
shall be reasonably acceptable to the Indemnittee (such independent counsel, the "Independent Counsel"). The Independent Counsel shall not include any person who, under the applicable standards of
professional conduct then prevailing, would have a conflict of interest in representing either the Company or the Indemnitee in an action to determine the Indemnitee's rights under this Agreement. The
Independent Counsel, among other things, shall render its written opinion to the Company and the Indemnitee as to whether and to what extent the Indemnitee should be permitted to be indemnified under
applicable law. The Company agrees to pay the reasonable fees of the Independent Counsel and to indemnify fully such Independent Counsel against any and all expenses (including attorneys' fees),
claims, liabilities, loss, and damages arising out of or relating to this Agreement or its engagement pursuant hereto. 

        3.    Other Expenses.    The Company shall be liable to and shall pay the Indemnitee for
any and all expenses (including attorneys' fees) which are incurred by the Indemnitee in connection with any action brought by the Indemnitee for (i) indemnification or advance payment of
Expenses by the Company under this Agreement or any other agreement or Company By-law or provision of its Restated Articles now or hereafter in effect relating to indemnification and/or
(ii) recovery under any directors' and officers' liability insurance policies maintained by the Company, regardless of whether the Indemnitee ultimately is determined to be entitled to such
indemnification, advance expense payment or insurance 

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recovery,
as the case may be. If requested by the Indemnitee, the Company shall promptly advance (but in no event more than five business days after receiving such request) any such expenses to the
Indemnitee. 

        4.    Partial Indemnity, Etc.    If the Indemnitee is entitled under any provision of
this Agreement to indemnification or payment by the Company for some or a portion of the Expenses, judgments, fines,
penalties and amounts paid in settlement of any threatened, pending or completed action, suit or proceeding but not, however, for all of the total amount thereof, the Company shall nevertheless
indemnify or pay the Indemnitee for the portion thereof to which the Indemnitee is entitled. 

        5.    Limitation on Indemnification.    Notwithstanding anything in this Agreement to the
contrary, the Indemnitee shall not be entitled to indemnification pursuant to this Agreement in connection with any Proceeding initiated by the Indemnitee against the Company or any director or
officer of the Company unless (i) the Company has joined in or the Board of Directors of the Company has consented to the initiation of such Proceeding; or (ii) the Proceeding is one to
enforce the Indemnitee's rights under this Agreement. 

        6.    Nonexclusivity, Etc.    The rights of the Indemnitee hereunder shall be in addition
to any other rights the Indemnitee may have under the Company's Restated Articles, By-Laws or the Act or otherwise. To the extent that a change in the Act (whether by statute or judicial
decision) permits greater indemnification by agreement than would be afforded currently under the Company's By-Laws or this Agreement, it is the intent of the parties hereto that the
Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change. 

        7.    Liability Insurance.    To the extent the Company maintains an insurance policy or
policies providing directors' and officers' liability insurance, the Indemnitee shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the
coverage available for any Company director or officer. 

        8.    Amendments, Etc.    No supplement, modification or amendment of this Agreement
shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions
hereof (whether or not similar) nor shall such waiver constitute a continuing waiver. 

        9.    Subrogation.    In the event of payment under this Agreement, the Company shall be
subrogated to the extent of such payment to all of the rights of recovery of the Indemnitee, who shall execute all papers required and shall do everything that may be necessary to secure such rights,
including the execution of such documents necessary to enable the Company effectively to bring suit to enforce such rights. 

        10.    No Duplication of Payments.    The Company shall not be liable under this
Agreement to make any payment in connection with any claim made against the Indemnitee in connection with any threatened, pending or completed action, suit or proceeding to the extent the Indemnitee
has otherwise actually received payment (under any insurance policy, By-law or otherwise) of the amounts otherwise indemnifiable hereunder. 

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        11.    Notice.    All notices, requests, consents or other communications under this
Agreement shall be delivered by hand or sent by registered or certified mail, return receipt requested, or by overnight prepaid courier, or by facsimile (receipt confirmed)
to:

	 	if to the Company:	 	EMC Corporation

176 South Street

Hopkinton, MA 01748

Attention: Office of the General Counsel

Facsimile: (508) 497-6915
	

 	

if to the Indemnitee:	
 	

[NAME]

[ADDRESS]

All
such notices, requests, consents and other communications shall be deemed to have been duly delivered and received three (3) days following the date on which mailed, or one (1) day
following the date mailed if sent by overnight courier, or on the date on which delivery by hand or by facsimile transmission. 

        12.    Binding Effect, Etc.    This Agreement shall be effective as of the Effective Date
and shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and their respective successors, assigns, including any direct or indirect successor by purchase, merger,
consolidation or otherwise to all or substantially all of the business and/or assets of the Company, spouses, heirs, executors and personal and legal representatives. This Agreement shall continue in
effect regardless of whether the Indemnitee continues to serve as an officer or director of the Company or of any other enterprise at the Company's request. 

        13.    Severability.    The provisions of this Agreement shall be severable in the event
that any of the provisions hereof (including any provision within a single section, paragraph or sentence) are held by a court of competent jurisdiction to be invalid, void or otherwise unenforceable
in any respect, and the validity and enforceability of any such provision in every other respect and of the remaining provisions hereof shall not be in any way impaired and shall remain enforceable to
the fullest extent permitted by law. 

        14.    Governing Law.    This Agreement shall be governed by and construed and enforced
in accordance with the laws of the Commonwealth of Massachusetts applicable to contracts made and to be performed in such state without giving effect to the principles of conflicts of laws. 

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK] 

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        IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above written. 

	 	EMC CORPORATION
	 	 	 
	 	 	 
	 	By	 
	 	 	
 Name:

Title:
	 	 	 
	 	 	 
	 	
 [NAME]

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Exhibit 10.14

FORM OF AMENDED AND RESTATED INDEMNIFICATION AGREEMENTQuickLinks
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Exhibit 10.15    
    

EMC CORPORATION

AMENDED AND RESTATED 1989 EMPLOYEE STOCK PURCHASE PLAN,

as amended and restated as of January 1, 2008  

Section 1.
Purpose of Plan 

        The
EMC Corporation Amended and Restated 1989 Employee Stock Purchase Plan (the "Plan") is intended to provide a method by which eligible employees of EMC Corporation and its
subsidiaries (collectively, the "Company") may use voluntary, systematic payroll deductions to purchase the Company's common stock, $.01 par value, ("stock") and thereby acquire an interest in the
future of the Company. For purposes of the Plan, a subsidiary is any corporation in which the Company owns, directly or indirectly, stock possessing 50% or more of the total combined voting power of
all classes of stock unless the Board of Directors of the Company (the "Board of Directors") determines that employees of a particular subsidiary shall not be eligible. 

Section 2.
Options to Purchase Stock 

        Under
the Plan as now amended, no more than 123,000,000 shares are available for purchase (subject to adjustment as provided in Section 16) pursuant to the exercise of options
("options") granted under the Plan to employees of the Company ("employees"). The stock to be delivered upon exercise of options under the Plan may be either shares of the Company's authorized but
unissued stock, or shares of reacquired stock, as the Board of Directors shall determine. 

Section 3.
Eligible Employees 

        Except
as otherwise provided in Section 20, each employee who has completed three months or more of continuous service in the employ of the Company shall be eligible to
participate in the Plan. 

Section 4.
Method of Participation 

        The
periods January 1 to June 30 and July 1 to December 31 of each year shall be option periods. Each person who will be an eligible employee on the first day
of any option period may elect to participate in the Plan by executing and delivering, at least one business day prior to such day, a payroll deduction authorization in accordance with
Section 5. Such employee shall thereby become a participant ("participant") on the first day of such option period and shall remain a participant until his or her participation is terminated as
provided in the Plan. 

Section 5.
Payroll Deductions 

        The
payroll deduction authorization shall request withholding, at a rate of not less than 2% nor more than 15% from the participant's compensation (subject to a maximum of $7,500 per
option period), by means of substantially equal payroll deductions over the option period; provided,  however, that in the event any amount remaining in a
participant's withholding account at the end of an option period (which would be equal to a
fractional share) is rolled over to the opening balance in a participant's withholding account for the next option period pursuant to Section 8 below (a "rollover"), such amount will be applied
to the last payroll deduction for the next option period, thereby reducing the amount of that payroll deduction; further provided that the maximum of
$7,500 per option period shall be reduced by the amount of any rollover. For purposes of the Plan, "compensation" shall mean all cash compensation paid to the participant by the Company. A participant
may elect to change the withholding rate of his or her payroll deduction authorization by written notice delivered to the Company at least one business day prior to the first day of the option period
as to which the change is to be effective. Following delivery to the Company of any payroll deduction authorization or any election to change the withholding rate of a payroll deduction authorization,
appropriate payroll deductions or changes thereto shall commence as soon as reasonably practicable. All amounts withheld in accordance with a participant's payroll deduction authorization shall be
credited to a withholding account for such participant. 

 

Section 6.
Grant of Options 

        Each
person who is a participant on the first day of an option period shall as of such day be granted an option for such period. Such option shall be for the number of shares of stock to
be determined by dividing (a) the balance in the participant's withholding account on the last day of the option period by (b) the purchase price per share of the stock determined under
Section 7, and eliminating any fractional share from the quotient. In the event that the number of shares then available under the Plan is otherwise insufficient, the Company shall reduce on a
substantially proportionate basis the number of shares of stock receivable by each participant upon exercise of his or her option for an option period and shall return the balance in a participant's
withholding account to such participant. Notwithstanding the foregoing, in no event may a participant purchase more than 750 shares of stock in any one option period under the Plan. 

Section 7.
Purchase Price 

        The
purchase price of stock issued pursuant to the exercise of an option shall be 85% of the fair market value of the stock at (a) the time of grant of the option or
(b) the time at which the option is deemed exercised, whichever is less. "Fair market value" shall mean the fair market value as determined from time to time by the Board of Directors or, where
appropriate, by the Committee (defined below), taking into account all information which the Board of Directors, or the Committee, considers relevant. 

Section 8.
Exercise of Options 

        If
an employee is a participant in the Plan on the last business day of an option period, he or she shall be deemed to have exercised the option granted to him or her for that period.
Upon such exercise, the
Company shall apply the balance of the participant's withholding account to the purchase of the number of whole shares of stock determined under Section 6, and as soon as practicable thereafter
shall issue and deliver certificates for said shares to the participant. No fractional shares shall be issued hereunder. Any balance accumulated in the participant's withholding account that is not
sufficient to purchase a full share shall be retained in such account for any subsequent option period, subject to early withdrawal by the participant pursuant to Section 10. Any other monies
remaining in the participant's withholding account after the date of exercise shall be promptly returned to the participant or his or her beneficiary (as applicable) in cash. 

        Notwithstanding
anything herein to the contrary, the Company shall not be obligated to deliver any shares unless and until, in the opinion of the Company's counsel, all requirements of
applicable federal and state laws and regulations (including any requirements as to legends) have been complied with, nor, if the outstanding stock is at the time listed on any securities exchange,
unless and until the shares to be delivered have been listed (or authorized to be added to the list upon official notice of issuance) upon such exchange, nor unless or until all other legal matters in
connection with the issuance and delivery of shares have been approved by the Company's counsel. 

Section 9.
Interest 

        No
interest will be payable on withholding accounts. 

Section 10.
Cancellation and Withdrawal 

        Effective
January 1, 2002, on or prior to June 15 or December 15, as the case may be with respect to any applicable option period, a participant who holds an option
under the Plan may cancel all (but not less than all) of his or her option by written notice delivered to the Company, in such form as the Company may prescribe. Any participant who delivers such
written notice shall be deemed to have canceled his or her option, terminated his or her payroll deduction authorization with respect to the Plan and terminated his or her participation in the Plan,
in each case, as of the date of such written notice. In the event that any June 15 or December 15, as the case may be with respect to the 

2

 

applicable
option period, shall be a Saturday, Sunday or day on which banks in the Commonwealth of Massachusetts are required or permitted to close, a participant may cancel his or her option by
written notice given on or prior to the last business day immediately preceding such date. Following delivery of any such notice, any balance in the participant's withholding account will be returned
to such participant as soon as reasonably practicable. Any participant who has delivered such notice may elect to participate in the Plan in any future option period in accordance with the provisions
of Section 4. 

Section 11.
Termination of Employment 

        Except
as otherwise provided in Section 12, upon the termination of a participant's employment with the Company for any reason whatsoever, he or she shall cease to be a
participant, and any option held by him or her under the Plan shall be deemed cancelled, the balance of his or her withholding account shall be returned to him or her, and he or she shall have no
further rights under the Plan. For purposes of this Section 11, a participant's employment will not be considered terminated in the case of a transfer to the employment of a subsidiary or to
the employment of the Company and an individual's employment relationship will continue while such individual is on sick leave or other leave of absence approved by the Company or a subsidiary;
provided, however, that if such leave of absence exceeds 90 days, and the individual's right to reemployment is not guaranteed either by statute or by contract, the employment relationship
shall be deemed to be terminated on the 91st day of such leave. 

Section 12.
Death of Participant 

        In
the event a participant holds any option hereunder at the time his or her employment with the Company is terminated by his or her death, whenever occurring, then his or her legal
representative, may, by a writing delivered to the Company on or before the date such option is exercisable, elect either (a) to cancel any such option and receive in cash the balance in his or
her withholding account, or (b) to have the balance in his or her withholding account applied as of the last day of the option period to the exercise of his or her option pursuant to
Section 8, and have the balance, if any, in such account in excess of the total purchase price of the whole shares so issued returned in cash. In the event such legal representative does not
file a written election as provided above, any outstanding option shall be treated as if an election had been filed pursuant to subparagraph 12(a) above. 

Section 13.
Participant's Rights Not Transferable, etc. 

        All
participants granted options under the Plan shall have the same rights and privileges. Each participant's rights and privileges under any option granted under the Plan shall be
exercisable during his or her lifetime only by him or her, and shall not be sold, pledged, assigned, or otherwise transferred in any manner whatsoever except by will or the laws of descent and
distribution. In the event any participant violates the terms of this Section, any options held by him or her may be terminated by the Company and, upon return to the participant of the balance of his
or her withholding account, all his or her rights under the Plan shall terminate. 

Section 14.
Employment Rights 

        Neither
the adoption of the Plan nor any of the provisions of the Plan shall confer upon any participant any right to continued employment with the Company or a subsidiary or affect in
any way the right of the Company to terminate the employment of such participant at any time. 

Section 15.
Rights as a Shareholder 

        A
participant shall have the rights of a shareholder only as to stock actually acquired by him or her under the Plan. 

Section 16.
Change in Capitalization 

        In
the event of a stock dividend, stock split or combination of shares, recapitalization, merger in which the Company is the surviving corporation or other change in the Company's
capital stock, the 

3

 

number
and kind of shares of stock or securities of the Company to be subject to the Plan and to options then outstanding or to be granted hereunder, the maximum number of shares or securities which
may be Delivered under the Plan, the option price and other relevant provisions shall be appropriately adjusted by the Board of Directors, whose determination shall be binding on all persons. In the
event of a consolidation or merger in which the Company is not the surviving corporation or in the event of the sale or transfer of substantially all the Company's assets (other than by the grant of a
mortgage or security interest), all outstanding options shall thereupon terminate, provided that prior to the effective date of any such merger, consolidation or sale of assets, the Board of Directors
shall either (a) return the balance in all withholding accounts and cancel all outstanding options, or (b) accelerate the exercise date provided for in Section 8, or (c) if
there is a surviving or acquiring corporation, arrange to have that corporation or an affiliate of that corporation grant to the participants replacement options having equivalent terms and conditions
as determined by the Board of Directors. 

Section 17.
Administration of Plan 

        The
Plan will be administered by the Board of Directors. The Board of Directors will have authority, not inconsistent with the express provisions of the Plan, to take all action
necessary or appropriate
hereunder, to interpret its provisions, and to decide all questions and resolve all disputes which may arise in connection therewith. Such determinations of the Board of Directors shall be conclusive
and shall bind all parties. 

        The
Board may, in its discretion, delegate its powers with respect to the Plan to an Employee Benefit Plan Committee or any other committee (the "Committee"), in which event all
references to the Board of Directors hereunder, including without limitation the references in Section 17, shall be deemed to refer to the Committee. A majority of the members of any such
Committee shall constitute a quorum, and all determinations of the Committee shall be made by a majority of its members. Any determination of the Committee under the Plan may be made without notice or
meeting of the Committee by a writing signed by a majority of the Committee members. 

Section 18.
Amendment and Termination of Plan 

        The
Board of Directors may at any time or times amend the Plan or amend any outstanding option or options for the purpose of satisfying the requirements of any changes in applicable laws
or regulations or for any other purpose which may at the time be permitted by law, provided that (except to the extent explicitly required or permitted herein) no such amendment will, without the
approval of the shareholders of the Company, (a) increase the maximum number of shares available under the Plan, (b) reduce the option price of outstanding options or reduce the price at
which options may be granted, (c) change the conditions for eligibility under the Plan, or (d) amend the provisions of this Section 18 of the Plan, and no such amendment will
adversely affect the rights of any participant (without his or her consent) under any option theretofore granted. 

        The
Plan may be terminated at any time by the Board of Directors, but no such termination shall adversely affect the rights and privileges of holders of the outstanding options. 

Section 19.
Approval of Shareholders 

        The
Plan shall be subject to the approval of the shareholders of the Company, which approval shall be secured within twelve months after the date the Plan is adopted by the Board of
Directors. Notwithstanding any other provisions of the Plan, no option shall be exercised prior to the date of such approval. 

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Section 20.
Limitations 

        Notwithstanding
any other provision of the Plan: 

        (a)   An
employee shall not be eligible to receive an option pursuant to the Plan if, immediately after the grant of such option to him or her, he or she would (in accordance
with the provisions of Sections 423 and 424(d) of the Internal Revenue Code of 1986, as amended (the "Code")) own or be deemed to own stock possessing 5% or more of the total combined voting
power or value of all classes of stock of the employer corporation or of its parent or subsidiary corporation, as defined in Section 424 of the Code. 

        (b)   No
employee shall be granted an option under this Plan that would permit his or her rights to purchase shares of stock under all employee stock purchase plans (as
defined in Section 423 of the Code) of the Company or any parent or subsidiary company to accrue at a rate which exceeds $25,000 in fair market value of such stock (determined at the time the
option is granted) for each calendar year during which any such option granted to such employee is outstanding at any time, as provided in Sections 423 of the Code. 

        (c)   No
employee shall be granted an option under this Plan that would permit him or her to withhold more than $7,500 in each option period or $15,000 per calendar year, less
the amount of any rollover. 

        (d)   No
employee whose customary employment is 20 hours or less per week shall be eligible to participate in the Plan. 

        (e)   No
independent contractor shall be eligible to participate in the Plan. 

        (f)    From
and after the initial public offering of VMware, Inc., (a) employees of VMware, Inc. and its direct and indirect subsidiaries will not be
eligible to participate in the Plan and (b) any participant whose employment is transferred to VMware, Inc. or any of its direct or indirect subsidiaries shall automatically cease
participation in the Plan and any balance in such participant's withholding account will be returned to such participant as soon as reasonably practicable. 

Section 21.
Jurisdiction and Governing Law. 

        The
Company and each participant in the Plan submit to the exclusive jurisdiction and venue of the federal or state courts of the Commonwealth of Massachusetts to resolve issues that may
arise out of or relate to the Plan or the same subject matter. The Plan shall be governed by the laws of the Commonwealth of Massachusetts, excluding its conflicts or choice of law rules or principles
that might otherwise refer construction or interpretation of this Plan to the substantive law of another jurisdiction. 

5

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Exhibit 10.15

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