Document:

EX-10.10

 Exhibit 10.10 

EXECUTIVE EMPLOYMENT AGREEMENT 

This EMPLOYMENT AGREEMENT (the “Agreement”) by and between Erin M. Lavelle (the
“Executive”) and Eliem Therapeutics, Inc. (the “Company”) is effective as of October 1, 2020 (the “Effective Date”). 

The Company desires to employ the Executive and, in connection therewith, to compensate the Executive for Executive’s personal services
to the Company; and 
 The Executive wishes to be employed by the Company and provide personal services to the Company in return for certain
compensation. 
 Accordingly, in consideration of the mutual promises and covenants contained herein, the parties agree to the following:

 1. EMPLOYMENT BY THE
COMPANY. 
 1.1 Position. Subject to the terms set forth herein,
the Company agrees to employ Executive in the position of Executive Vice President, Chief Operating Officer and Chief Financial Officer and Executive hereby accepts such employment. During the term of Executive’s employment with the Company,
Executive will devote Executive’s best efforts and substantially all of Executive’s business time and attention to the business of the Company. 

1.2 Duties. Executive will report to the Company’s Chief Executive Officer (“CEO”).
Executive will perform such duties as are normally associated with her position, as assigned from time to time by the CEO. Executive shall perform her duties under this Agreement principally out of the Redmond, Washington area, or such other
location as assigned. In addition, the Executive shall make such business trips to such places as may be necessary or advisable for the efficient operations of the Company. 

1.3 Company Policies and Benefits. The employment relationship between the parties shall also be subject to the
Company’s personnel policies and procedures as they may be interpreted, adopted, revised or deleted from time to time in the Company’s sole discretion, Executive will be eligible to participate on the same basis as similarly situated
employees in the Company’s benefit plans in effect from time to time during her employment. All matters of eligibility for coverage or benefits under any benefit plan shall be determined in accordance with the provisions of such plan. The
Company reserves the right to change, alter, or terminate any benefit plan in its sole discretion. Notwithstanding the foregoing, in the event that the terms of this Agreement differ from or are in conflict with the Company’s general employment
policies or practices, this Agreement shall control. 
 2. COMPENSATION.

 2.1 Salary. Executive shall receive for Executive’s services to be rendered hereunder an initial annualized
base salary of $450,000, subject to annual review and adjustment by the Company in its sole discretion, payable subject to standard federal and state payroll withholding requirements in accordance with Company’s standard payroll practices
(“Base Salary”). 

  
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 2.2 Annual Bonus. Executive shall be eligible for a discretionary
annual fiscal year performance bonus (the “Annual Bonus”) with an annual target of forty-five percent (45%) of Executive’s then-current Base Salary (the “Target Amount”). Whether or not Executive
is eligible for any Annual Bonus will be dependent upon the actual achievement by Executive and the Company of the applicable individual and corporate performance goals, as determined by the Board of Directors of the Company (the
“Board”). No amount of any Annual Bonus is guaranteed at any time and may be greater or lesser than the Target Amount and may be zero. Executive must be an employee in good standing through the last day of the fiscal year to
be eligible to earn an Annual Bonus, subject to the terms and conditions of Section 6 below (under which Executive may be eligible for a pro-rata or full Annual Bonus as part of severance without being an
employee in good standing through the last day of the fiscal year). Executive will be eligible for a pro-rated Annual Bonus for fiscal year 2020, subject to the eligibility criteria in this Section 2.2(a)
and provided that any Annual Bonus awarded to Executive for fiscal year 2020 will be prorated based upon the number of days during which she was employed by the Company in fiscal year 2020. Any Annual Bonus, if awarded, will be paid in a single
annual installment paid at the same time annual bonuses are generally paid to other similarly-situated employees of the Company and in any event no later than March 15th of the calendar year following the calendar year to which the Annual Bonus is
applicable, and will be subject to deductions and withholdings. Executive’s eligibility for an Annual Bonus and the Target Amount, if any, is subject to change in the discretion of the Board (or any authorized committee thereof). 

2.3 Future Equity Awards. Subject in each case to approval by the Board, and provided that Executive remains continuously
employed by the Company through each of the respective dates of grant described below, Executive will be eligible to receive separate stock option awards under the Company’s 2019 Equity Incentive Plan (“Plan”), upon the
consummation of a preferred stock financing with entities affiliated with RA Capital and Access Industries for the purchase of the Company’s Series A-1 Preferred Stock (the
“Financing”), as follows: (a) immediately following the receipt by the Company of the initial $5,000,000 tranche of funding at the time of the initial closing of the Financing, Executive will be granted an option (the
“Initial Option”) to purchase a number of shares of Common Stock of the Company representing 1.8% of the Company’s then issued and outstanding Common Stock, as calculated on a fully-diluted, as-converted to common stock basis, at an exercise price equal to the fair market value of the Company’s Common Stock as of the date of grant of such Initial Option, as determined by the Board in its
discretion, and (b) prior to the receipt by the Company of each follow-on tranche of funding in connection with the Financing, if any, the Executive will be granted an additional option (each, a
“Follow-on Option” and collectively with the Initial Option and each previously granted Follow-on Option, if any, the
“Options”) to purchase a number of shares of Common Stock of the Company that, when taken together with all of the Common Stock covered by the Initial Option and each previously granted
Follow-on Option, if any, plus all other capital stock of the Company then owned by Executive (or her family) or then subject to any other outstanding equity awards held by Executive (or her family),
represents 1.8% of the Company’s then issued and outstanding Common Stock, as calculated on a fully-diluted, as-converted to common stock basis, at an exercise price equal to the fair market value of the
Company’s Common Stock as of the date of grant of such Follow-on Option, as determined by the Board in its discretion. The Options will vest and become exercisable with respect to twenty-five percent
(25%) of the shares subject to each Option on the one-year anniversary of the date of grant of each such Option, and thereafter will vest and become exercisable in equal monthly installments over the ensuing thirty-six (36) 

  
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months, subject to Executive’s continuous employment with the Company as of each vesting date. The Options will be incentive stock options under Section 422 of the Code to the maximum
extent permitted and otherwise will be non-qualified stock options. The terms and conditions of the Options will be as set forth in the Plan and the form of stock option agreement and grant notice, which
Executive is required to sign. The term “fully-diluted, as-converted to common stock basis” means, as of the date it is being measured (and without duplication), the number of issued and outstanding
shares of Common Stock, plus the number of shares of Common Stock then subject to outstanding stock options (including the Options, if awarded) or other equity awards under the Plan, and any other equity incentive plan in effect on the date of
measurement (“Other Plans”), plus the total available but unused share reserve under the Plan and the Other Plans, plus the number of shares of capital stock covered by warrants, if any, plus the number of shares of Common
Stock into which the outstanding shares of preferred stock of the Company are then convertible. Executive is eligible to be considered for future equity awards as may be determined by the Board or a committee of the Board in its discretion in
accordance with the terms of any applicable equity plan or arrangement that may be in effect from time to time. 
 2.4 Expense
Reimbursement. The Company will reimburse Executive for reasonable business expenses with proper documentation and in accordance with the Company’s standard expense reimbursement policy. For the avoidance of doubt, to the extent that
any reimbursements payable to Executive are subject to the provisions of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”): (a) any such reimbursements will be paid no later than December 31
of the year following the year in which the expense was incurred, (b) the amount of expenses reimbursed in one year will not affect the amount eligible for reimbursement in any subsequent year, and (c) the right to reimbursement under this
Agreement will not be subject to liquidation or exchange for another benefit. 
 3. CONFIDENTIAL
INFORMATION, INVENTIONS, NON-SOLICITATION AND NON-COMPETITION
OBLIGATIONS. The parties hereto are entering into a Confidential Information, Inventions, Non-Solicitation and
Non-Competition Agreement (the “Confidential Information Agreement”), which may be amended by the parties from time to time without regard to this Agreement. The Confidential
Information Agreement contains provisions that are intended by the parties to survive and do survive termination or expiration of this Agreement. 

4. OUTSIDE ACTIVITIES. Executive will not, while employed by
the Company, undertake or engage in any other employment, occupation or business enterprise, including accepting any appointment to the board of directors of another company, that would interfere or conflict, either directly or indirectly, with
Executive’s responsibilities and the performance of Executive’s duties hereunder except for (i) reasonable time devoted to volunteer services for or on behalf of such religious, educational,
non-profit and/or other charitable organization as Executive may wish to serve, (ii) reasonable time devoted to activities in the non-profit and business
communities consistent with Executive’s duties (iii) appointment to the board of directors of another company, so long as (A) prior to accepting such appointment Executive has notified and provided the Board with an opportunity to
review and comment on such appointment and (B) such appointment does not interfere or conflict with Executive’s responsibilities and the performance of Executive’s duties hereunder, (iv) service on the board of directors of
Neoleukin Therapeutics, of which Executive is a member as of the Effective Date, so long as such service does not interfere or conflict with Executive’s responsibilities and the performance of Executive’s duties hereunder,

  
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and (v) such other activities as may be specifically approved by the Board. This restriction shall not, however, preclude the Executive (x) from owning less than one percent (1%) of the
total outstanding shares of a publicly traded company, or (y) from employment or service in any capacity with Affiliates of the Company. As used in this Agreement, “Affiliates” means an entity under common management or
control with the Company. 
 5. NO CONFLICT WITH EXISTING
OBLIGATIONS. Executive represents that Executive’s performance of all the terms of this Agreement and as an Executive of the Company do not and will not breach any agreement or obligation of
any kind made prior to Executive’s employment by the Company, including agreements or obligations Executive may have with prior employers or entities for which Executive has provided services. Executive has not entered into, and Executive
agrees that Executive will not enter into, any agreement or obligation, either written or oral, in conflict herewith. 
 6.
TERMINATION OF EMPLOYMENT. The parties acknowledge that Executive’s employment relationship with the Company is
at-will. Either Executive or the Company may terminate the employment relationship at any time, with or without Cause. The provisions in this Section govern the amount of compensation, if any, to be provided
to Executive upon termination of employment and do not alter this at-will status. 
 6.1
Termination by the Company without Cause or by the Executive for Good Reason Not in Connection with a Change in Control. 

(a) The Company shall have the right to terminate Executive’s employment with the Company pursuant to this Section 6.1 at
any time, in accordance with Section 6.6, without “Cause” (as defined in Section 6.3(b) below) by giving notice as described in Section 8.1 of this Agreement. A termination pursuant to Section 6.5 (upon
Death or Disability) below is not a termination without Cause for purposes of receiving the benefits described in this Section 6.1. 

(b) If (i) the Company terminates Executive’s employment at any time without Cause or Executive terminates her employment
with the Company for “Good Reason” (as defined in Section 6.1(h) below), in either case not in connection with a Change in Control (as defined in Exhibit A), (ii) the date of Executive’s separation of employment
with the Company occurs before the closing of the sale of the Company’s Common Stock pursuant to an effective registration statement of the Company filed under the Securities Act of 1933, as amended (the “IPO”), and
(iii) such termination constitutes a “separation from service” (as defined under Treasury Regulation Section 1.409A-1(h), without regard to any alternative definition thereunder, a
“Separation from Service”), then Executive shall be entitled to receive the Accrued Obligations (defined in Section 6.1(e) below), and if Executive complies with the obligations in Section 6.1(d) below (including
but not limited to the Release (as defined in Section 6.1(d) below) requirement), Executive shall also be eligible to receive the following “Pre -IPO Severance Benefits:” 

(i) The Company will pay Executive an amount equal to Executive’s then current Base Salary for nine
(9) months, less all applicable withholdings and deductions (“Pre -IPO Severance”), paid in equal installments beginning on the Company’s first regularly scheduled payroll
date following the Release Effective Date (as defined in Section 6.1(d) below), with the remaining installments occurring on the Company’s regularly scheduled payroll dates thereafter. 

  
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 (ii) Provided Executive timely elects continued coverage under COBRA
under the Company’s group health plans following such termination, the Company will pay Executive’s COBRA premiums, to continue Executive’s health insurance coverage in effect on the termination date until the earliest of:
(1) nine (9) months following the termination date (the “COBRA Pre-IPO Severance Period”); (2) the date when Executive becomes eligible for substantially equivalent health
insurance coverage in connection with new employment or self-employment; or (3) the date Executive ceases to be eligible for COBRA continuation coverage for any reason, including plan termination (such period from the termination date through
the earlier of (1)-(3), (the “COBRA Pre-IPO Payment Period”). Notwithstanding the foregoing, if at any time the Company determines that its payment of COBRA premiums on Executive’s
behalf would result in a violation of applicable law (including, but not limited to, the 2010 Patient Protection and Affordable Care Act, as amended by the 2010 Health Care and Education Reconciliation Act), then in lieu of paying COBRA premiums
pursuant to this Section, the Company shall pay Executive on the last day of each remaining month of the COBRA Pre-IPO Payment Period, a fully taxable cash payment equal to the COBRA premium for such month,
subject to applicable tax withholding (such amount, the “Special Severance Payment”), for the remainder of the COBRA Pre-IPO Payment Period. Nothing in this Agreement shall deprive
Executive of her rights under COBRA or ERISA for benefits under plans and policies arising under her employment by the Company. 

(iii) The Company shall pay Executive an amount equal to Executive’s pro rata Annual Bonus (based on the Target
Amount) for the calendar year in which Executive’s termination occurs (i.e., for the period from January 1 through and including the date of Executive’s separation of employment with the Company), payable subject to standard federal
and state payroll withholding requirements on the Company’s first regularly scheduled payroll date following the Release Effective Date. 

(iv) The vesting of the unvested portion of any equity awards then held by Executive that are scheduled to vest and
become exercisable under a time-based or service-based schedule in the nine (9) month period immediately following the termination date shall be accelerated and shall be deemed immediately vested and exercisable as of Executive’s
termination date (and, for clarity, if any unvested equity award is in the form of restricted stock that is subject to a share reacquisition or repurchase right on behalf of the Company, such reacquisition or repurchase right will lapse as to the
shares of stock that are scheduled to vest under such time-based schedule over the nine (9) month period immediately following the termination date). 

(c) In the event that the Company terminates Executive’s employment without Cause or Executive resigns for Good Reason not in
connection with a Change in Control but after the Company consummates an IPO, then Executive shall be entitled to the Accrued Obligations and, subject to Executive’s compliance with Section 6.1(d) below, including but not limited to the
Release requirement, then Executive will be eligible for the following “Post-IPO Severance Benefits:” 

  
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 (i) The Company will pay Executive an amount equal to
Executive’s then current Base Salary for eighteen (18) months, less all applicable withholdings and deductions (“Post -IPO Severance”), paid in equal installments beginning on
the Company’s first regularly scheduled payroll date following the Release Effective Date, with the remaining installments occurring on the Company’s regularly scheduled payroll dates thereafter. 

(ii) Provided Executive timely elects continued coverage under COBRA under the Company’s group health plans
following such termination, the Company will pay Executive’s COBRA premiums, to continue Executive’s health insurance coverage in effect on the termination date until the earliest of: (1) eighteen (18) months following the termination
date (the “COBRA Post-IPO Severance Period”); (2) the date when Executive becomes eligible for substantially equivalent health insurance coverage in connection with new employment
or self-employment; or (3) the date Executive ceases to be eligible for COBRA continuation coverage for any reason, including plan termination (such period from the termination date through the earlier of (1)-(3), (the “COBRA Post-IPO Payment Period”). Notwithstanding the foregoing, if at any time the Company determines that its payment of COBRA premiums on Executive’s behalf would result in a violation of applicable
law (including, but not limited to, the 2010 Patient Protection and Affordable Care Act, as amended by the 2010 Health Care and Education Reconciliation Act), then in lieu of paying COBRA premiums pursuant to this Section, the Company shall pay
Executive on the last day of each remaining month of the COBRA Post¬IPO Payment Period, a Special Severance Payment for the remainder of the COBRA Post¬IPO Payment Period. Nothing in this Agreement shall deprive Executive of her rights under
COBRA or ERISA for benefits under plans and policies arising under her employment by the Company. 
 (iii) The
Company shall pay Executive an amount equal to Executive’s pro rata Annual Bonus (based on the Target Amount) for the calendar year in which Executive’s termination occurs (i.e., for the period from January 1 through and including the
date of Executive’s separation of employment with the Company), payable subject to standard federal and state payroll withholding requirements on the Company’s first regularly scheduled payroll date following the Release Effective Date.

 (iv) The vesting of the unvested portion of any equity awards then held by Executive that are scheduled to vest
and become exercisable under a time-based or service-based schedule in the twelve (12) month period immediately following the termination date shall be accelerated and shall be deemed immediately vested and exercisable as of Executive’s
termination date (and, for clarity, if any unvested equity award is in the form of restricted stock that is subject to a share reacquisition or repurchase right on behalf of the Company, such reacquisition or repurchase right will lapse as to the
shares of stock that are scheduled to vest under such time-based schedule over the twelve (12) month period immediately following the termination date). 

(d) Executive shall receive the Severance pursuant to Section 6.1(b) or 6.1(c) of this Agreement, as applicable, if:
(i) within the timeframe provided by the Company, which shall be no later than the 60th day following the date of Executive’s Separation from 

  
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Service, she has signed and delivered to the Company a separation agreement containing an effective, general release of claims in favor of the Company and its affiliates and representatives, in
the form presented by the Company (the “Release”), which cannot be revoked in whole or part by such date (the date that the Release can no longer be revoked is referred to as the “Release Effective
Date”); (ii) if she holds any other positions with the Company or any Affiliate, including a position on the Board, she resigns such position(s) to be effective no later than the date of Executive’s termination date (or such other
date as requested by the Board); (iii) she returns all Company property; (iv) she complies with her post-termination obligations under this Agreement and the Confidential Information Agreement; and (v) she complies with the terms of the
Release, including without limitation any non-disparagement and confidentiality provisions contained in the Release. To the extent that any severance payments are deferred compensation under Section 409A
of the Code, and are not otherwise exempt from the application of Section 409A, then, if the period during which Executive may consider and sign the Release spans two calendar years, the payment of Severance will not be made or begin until the
later calendar year. 
 (e) For purposes of this Agreement, “Accrued Obligations” are
(i) Executive’s accrued but unpaid salary through the date of termination (paid within the timeframe required by applicable law), (ii) any unreimbursed business expenses incurred by Executive payable in accordance with the Company’s
standard expense reimbursement policies, and (iii) benefits owed to Executive under any qualified retirement plan or health and welfare benefit plan in which Executive was a participant in accordance with applicable law and the provisions of
such plan. 
 (f) The Pre-IPO Severance Benefits and
Post-IPO Severance Benefits provided to Executive pursuant to Section 6.1 or the Change in Control Severance Benefits (as defined below) pursuant to Section 6.2 are in lieu of, and not in addition
to, any benefits to which Executive may otherwise be entitled under any Company severance plan, policy or program. 
 (g) Any
damages caused by the termination of Executive’s employment without Cause or by the Executive for Good Reason would be difficult to ascertain; therefore, the Pre-IPO Severance Benefits and Post-IPO Severance Benefits or the Change in Control Severance Benefits for which Executive is eligible pursuant to Section 6.1(b), 6.1(c) or 6.2(a) in exchange for the Release is agreed to by the parties as
liquidated damages, to serve as full compensation, and not a penalty. 
 (h) For purposes of this Agreement, “Good
Reason” shall mean the occurrence of any of the following events without Executive’s consent: (i) a material reduction in Executive’s Base Salary or Target Amount, which the parties agree is a reduction of at least ten
percent (10%) of Executive’s Base Salary or Target Amount as in effect immediately prior to the time such reduction occurs (unless pursuant to a salary reduction or target bonus reduction program applicable generally to the Company’s
similarly situated executive officers); (ii) a change in Executive’s position, responsibilities, authority or offices that, results in a material diminution of position, responsibilities, authority or offices, provided, however, that the
Company’s hiring of personnel to handle duties that Executive was responsible for but which are not regularly associated with Executive’s position will not be a “material diminution” of position, responsibilities, authority or
offices; (iii) a material breach by the Company or any successor entity of any employment-related contract between the Company and Executive; or (iv) the relocation of 

  
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Executive’s principal place of employment, without Executive’s consent, in a manner that lengthens her one-way commute distance by fifty
(50) or more miles from her then-current principal place of employment immediately prior to such relocation; provided, however, that, any such termination by Executive shall only be deemed for Good Reason pursuant to this definition if:
(1) Executive gives the Company written notice of her intent to terminate for Good Reason within sixty (60) days following the first occurrence of the condition(s) that she believes constitute(s) Good Reason, which notice shall describe
such condition(s); (2) the Company fails to remedy such condition(s) within sixty (60) days following receipt of the written notice (the “Cure Period”); (3) the Company has not, prior to receiving such notice from
Executive, already informed Executive that her employment with the Company is being terminated; and (4) Executive voluntarily terminates her employment within sixty (60) days following the end of the Cure Period. For purposes of clarity, a
material reduction in Executive’s position, responsibilities, authority or offices that occurs as a result of the Company being acquired and made part of a larger entity (as, for example, when the Executive retains her position following a
Change in Control, but not of the acquiring or successor corporation itself but of a subsidiary of the acquiring or successor company) shall constitute a Good Reason event under (ii), above. 

6.2 Termination by the Company without Cause or Resignation by Executive for Good Reason in Connection with a Change in
Control. 
 (a) In the event that the Company terminates Executive’s employment without Cause or Executive resigns for
Good Reason during the three (3) months prior to, as of, or within twelve (12) months following the effective date of a Change in Control (“Change in Control Termination Date”), then Executive shall be entitled to
the Accrued Obligations and, subject to Executive’s compliance with Section 6.1(d), including but not limited to the Release requirement and Executive’s continued compliance with Executive’s obligations to the Company under
Executive’s Confidential Information Agreement, then Executive will be eligible for the following “Change in Control Severance Benefits:” 

(i) The Company will pay Executive an amount equal to Executive’s then current Base Salary and Annual Bonus (based
on the Target Amount) for eighteen (18) months, less all applicable withholdings and deductions (“Post-IPO Severance”), paid in a single lump sum on the Company’s first
regularly scheduled payroll date following the Release Effective Date. 
 (ii) Provided Executive timely elects
continued coverage under COBRA under the Company’s group health plans following such termination, the Company will pay Executive’s COBRA premiums, to continue Executive’s health insurance coverage in effect on the termination date
until the earliest of: (1) eighteen (18) months following the termination date (the “COBRA Change in Control Severance Period”); (2) the date when Executive becomes eligible for substantially equivalent health insurance
coverage in connection with new employment or self-employment; or (3) the date Executive ceases to be eligible for COBRA continuation coverage for any reason, including plan termination (such period from the termination date through the earlier
of (1)-(3), (the “COBRA Change in Control Payment Period”). Notwithstanding the foregoing, if at any time the Company determines that its payment of COBRA premiums on Executive’s behalf would result in a violation of
applicable law (including, but not 

  
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limited to, the 2010 Patient Protection and Affordable Care Act, as amended by the 2010 Health Care and Education Reconciliation Act), then in lieu of paying COBRA premiums pursuant to this
Section, the Company shall pay Executive on the last day of each remaining month of the COBRA Change in Control Payment Period, a Special Severance Payment for the remainder of the COBRA Change in Control Payment Period. Nothing in this Agreement
shall deprive Executive of her rights under COBRA or ERISA for benefits under plans and policies arising under her employment by the Company. 

(iii) Effective as of Executive’s Change in Control Termination Date, the vesting and exercisability of all
outstanding unvested Company equity awards that are held by Executive as of immediately prior to the Change in Control Termination Date and are scheduled to vest and become exercisable under a time-based, performance-based or service-based schedule
shall be deemed immediately vested and exercisable as of Executive’s termination date (and, for clarity, if any unvested equity award is in the form of restricted stock that is subject to a share reacquisition or repurchase right on behalf of
the Company, such reacquisition or repurchase right will lapse as to the shares of stock that are scheduled to vest under such time-based schedule immediately following the termination date). 

(b) “Change in Control” is defined at Exhibit A, which supersedes the any other definitions of Change in
Control for all purposes related to Executive’s employment with the Company, including but not limited to equity incentive grants. 

6.3 Termination by the Company for Cause. 

(a) The Company shall have the right to terminate Executive’s employment with the Company at any time for Cause by giving notice
as described in Section 6.6 of this Agreement. 
 (b) “Cause” for termination means the occurrence of
any one or more of the following: (i) any indictment of Executive for a felony under applicable law; (ii) Executive’s commission of or participation in (A) a fraud or embezzlement against the Company or its affiliates or
(B) act of dishonesty against the Company or its affiliates that results in (or would reasonably be expected to result in) material harm to the business of the Company; (iii) Executive’s material violation of any contract or agreement
between Executive and the Company, any statutory or fiduciary duty Executive owes to the Company under applicable law, or any material Company policy; or (iv) Executive’s willful conduct that constitutes gross misconduct, insubordination,
incompetence or habitual neglect of duties and that results in (or would reasonably be expected to result in) material harm to the business of the Company; provided, however, that the conduct described under clause (iii) or (iv) above, if
deemed curable by the Board in its reasonable discretion, will only constitute Cause if such conduct is not cured within thirty (30) days after Executive’s receipt of written notice from the Company or the Board specifying the particulars
of the conduct that may constitute Cause. 
 (c) In the event Executive’s employment is terminated at any time for Cause,
Executive will not receive the Pre-IPO Severance Benefits, Post-IPO Severance Benefits, the Change in Control Severance Benefits, or any other severance compensation or
benefit, except that, consistent with the Company’s standard payroll policies, the Company shall provide to Executive the Accrued Obligations. 

  
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 6.4 Resignation by Executive (other than for Good Reason). 

(a) Executive may resign from Executive’s employment with the Company at any time by giving notice as described in
Section 6.6. 
 (b) In the event Executive resigns from Executive’s employment with the Company (other than for Good
Reason), Executive will not receive the Pre-IPO Severance Benefits, Post-IPO Severance Benefits, the Change in Control Severance Benefits, or any other severance
compensation or benefit, except that, pursuant to the Company’s standard payroll policies, the Company shall provide to Executive the Accrued Obligations. 

6.5 Termination by Virtue of Death or Disability of Executive. 

(a) In the event of Executive’s death while employed pursuant to this Agreement, all obligations of the parties hereunder shall
terminate immediately, and the Company shall, pursuant to the Company’s standard payroll policies, provide to the Executive’s legal representatives Executive’s Accrued Obligations. 

(b) Subject to applicable state and federal law, the Company shall at all times have the right, upon written notice to Executive, to
terminate this Agreement based on the Executive’s Disability (as defined below). Termination by the Company of the Executive’s employment based on “Disability” shall mean termination because the Executive is unable
due to a physical or mental condition to perform the essential functions of her position with or without reasonable accommodation for six (6) months in the aggregate during any twelve (12) month period or based on the written certification
by two licensed physicians of the likely continuation of such condition for such period. This definition shall be interpreted and applied consistent with the Americans with Disabilities Act, the Family and Medical Leave Act, and other applicable
law. In the event Executive’s employment is terminated based on the Executive’s Disability, Executive will not receive the Severance, or any other severance compensation or benefit, except that, pursuant to the Company’s standard
payroll policies, the Company shall provide to Executive the Accrued Obligations. 
 6.6 Notice; Effective Date of
Termination. 
 (a) Termination of Executive’s employment pursuant to this Agreement shall be effective on the earliest
of: 
 (i) immediately after the Company gives notice to Executive of Executive’s termination, with or without
Cause, unless the Board deems such underlying facts and circumstances curable in its reasonable discretion pursuant to Section 6.3(b)(iii) or Section 6.3(b)(iv) in which case thirty (30) days after notice if not cured or unless the
Company specifies a later date, in which case, termination shall be effective as of such later date; 
 (ii)
immediately upon the Executive’s death; 

  
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 (iii) thirty (30) days after the Company gives notice to
Executive of Executive’s termination on account of Executive’s Disability, unless the Company specifies a later date, in which case, termination shall be effective as of such later date, provided that Executive has not returned to the full
time performance of Executive’s duties prior to such date; 
 (iv) thirty (30) days after the Executive
gives written notice to the Company of Executive’s resignation not for Good Reason, provided that the Company may set a termination date at any time between the date of notice and the date of resignation, in which case the Executive’s
resignation shall be effective as of such other date. Executive will receive compensation through any required notice period; or 

(v) for a termination for Good Reason, immediately upon Executive’s full satisfaction of the requirements of
Section 6.1(h). 
 (b) In the event notice of a termination under subsections (a)(i) and (iii) is given orally, at the
other party’s request, the party giving notice must provide written confirmation of such notice within five (5) business days of the request in compliance with the requirement of Section 8.1 below. In the event of a termination for
Cause, written confirmation shall specify the subsection(s) of the definition of Cause relied on to support the decision to terminate. 

6.7 Cooperation With Company After Termination of Employment. Following termination of Executive’s employment for
any reason, Executive shall fully cooperate with the Company in all matters relating to the winding up of Executive’s pending work including, but not limited to, any litigation in which the Company is involved, and the orderly transfer of any
such pending work to such other employees as may be designated by the Company. 
 6.8 Section 409A. 

(a) Notwithstanding anything to the contrary herein, the following provisions apply to the extent severance benefits provided herein
are subject to the Code and the regulations and other guidance thereunder and any state law of similar effect (collectively “Section 409A”). Severance shall not commence until the Executive
has a “separation from service” (as defined under Treasury Regulation Section 1.409A-1(h), without regard to any alternative definition thereunder, a “separation from service”). Each
installment of severance is a separate “payment” for purposes of Treas. Reg. Section 1.409A-2(b)(2)(i), and the severance is intended to satisfy the exemptions from application of
Section 409A provided under Treasury Regulations Sections 1.409A-1(b)(4), 1.409A-1(b)(5) and 1.409A-1(b)(9). However, if
such exemptions are not available and the Executive is, upon separation from service, a “specified employee” for purposes of Section 409A, then, solely to the extent necessary to avoid adverse personal tax consequences under
Section 409A, the timing of the severance payments shall be delayed until the earlier of (i) six (6) months and one day after the Executive’s separation from service, or (ii) the Executive’s death. The parties acknowledge
that the exemptions from application of Section 409A to severance benefits are fact specific, and any later amendment of this Agreement to alter the timing, amount or conditions that will trigger payment of severance benefits may preclude the
ability of severance benefits provided under this Agreement to qualify for an exemption. 

  
 11 

 (b) It is intended that this Agreement shall comply with the requirements of
Section 409A, and any ambiguity contained herein shall be interpreted in such manner so as to avoid adverse personal tax consequences under Section 409A. Notwithstanding the foregoing, the Company shall in no event be obligated to
indemnify the Executive for any taxes or interest that may be assessed by the Internal Revenue Service pursuant to Section 409A of the Code to payments made pursuant to this Agreement. 

7. ACCELERATION OF EQUITY AWARDS IN
CONNECTION WITH CHANGE IN CONTROL WITHOUT TERMINATION. In the event that the Company’s successor or
surviving entity in a Change in Control does not assume or continue the unvested portion of Executive’s equity awards, and the unvested awards will otherwise terminate, then effective immediately prior to such Change in Control, the unvested
portion of the employee’s equity awards shall vest and (if applicable) become exercisable. 
 8. GENERAL
PROVISIONS. 
 8.1 Notices. Any notices required hereunder to be
in writing shall be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) when sent by electronic mail or confirmed facsimile if sent during normal business hours of the recipient, and if not, then on the
next business day, (c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) day after deposit with a nationally recognized overnight courier, specifying next day
delivery, with written verification of receipt. All communications shall be sent to the Company at its primary office location and to Executive at Executive’s address as listed on the Company payroll or Executive’s company-provided email
address, or at such other address as the Company or the Executive may designate by ten (10) days advance written notice to the other. 

8.2 Severability. Whenever possible, each provision of this Agreement will be interpreted in such manner as to be
effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability
will not affect any other provision or any other jurisdiction, but this Agreement will be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provisions had never been contained herein. 

8.3 Waiver. If either party should waive any breach of any provisions of this Agreement, Executive or it shall not
thereby be deemed to have waived any preceding or succeeding breach of the same or any other provision of this Agreement. 
 8.4
Complete Agreement. This Agreement constitutes the entire agreement between Executive and the Company with regard to the subject matter hereof. This Agreement is the complete, final, and exclusive embodiment of their agreement with
regard to this subject matter and supersedes any prior oral discussions or written communications and agreements. This Agreement is entered into without reliance on any promise or representation other than those expressly contained herein, and it
cannot be modified or amended except in writing signed by Executive and an authorized officer of the Company. The parties have entered into a separate Confidential Information Agreement and may also enter into separate stock agreements. Any such

  
 12 

 
separate agreements govern other aspects of the relationship between the parties, have or may have provisions that survive termination of the Executive’s employment under this Agreement, may
be amended or superseded by the parties without regard to this agreement and are enforceable according to their terms without regard to the enforcement provision of this Agreement. 

8.5 Counterparts. This Agreement may be executed in separate counterparts, any one of which need not contain signatures
of more than one party, but all of which taken together will constitute one and the same Agreement. 
 8.6 Headings.
The headings of the sections hereof are inserted for convenience only and shall not be deemed to constitute a part hereof nor to affect the meaning thereof. 

8.7 Successors and Assigns. The Company shall assign this Agreement and its rights and obligations hereunder in whole,
but not in part, to any Company or other entity with or into which the Company may hereafter merge or consolidate or to which the Company may transfer all or substantially all of its assets, if in any such case said Company or other entity shall by
operation of law or expressly in writing assume all obligations of the Company hereunder as fully as if it had been originally made a party hereto, but may not otherwise assign this Agreement or its rights and obligations hereunder. The Executive
may not assign or transfer this Agreement or any rights or obligations hereunder, other than to her estate upon her death. 
 8.8
Choice of Law. All questions concerning the construction, validity and interpretation of this Agreement will be governed by the law of the State of Washington. 

8.9 Resolution of Disputes. The parties recognize that litigation in federal or state courts or before federal or state
administrative agencies of disputes arising out of the Executive’s employment with the Company or out of this Agreement, or the Executive’s termination of employment or termination of this Agreement, may not be in the best interests of
either the Executive or the Company, and may result in unnecessary costs, delays, complexities, and uncertainty. The parties agree that any dispute between the parties arising out of or relating to the negotiation, execution, performance or
termination of this Agreement or the Executive’s employment, including, but not limited to, any claim arising out of this Agreement, claims under Title VII of the Civil Rights Act of 1964, as amended, the Civil Rights Act of 1991, the Age
Discrimination in Employment Act of 1967, the Americans with Disabilities Act of 1990, Section 1981 of the Civil Rights Act of 1966, as amended, the Family Medical Leave Act, the Executive Retirement Income Security Act, and any similar
federal, state or local law, statute, regulation, or any common law doctrine, whether that dispute arises during or after employment, shall be settled by binding arbitration in accordance with the National Rules for the Resolution of Employment
Disputes of the American Arbitration Association; provided however, that this dispute resolution provision shall not apply to any separate agreements between the parties that do not themselves specify arbitration as an exclusive remedy. The location
for the arbitration shall be the Seattle, Washington area. Any award made by such panel shall be final, binding and conclusive on the parties for all purposes, and judgment upon the award rendered by the arbitrators may be entered in any court
having jurisdiction thereof. The arbitrators’ fees and expenses and all administrative fees and expenses associated with the filing of the arbitration shall be borne by the Company; provided however, that at the Executive’s option,
Executive may voluntarily pay up to one-half the costs and fees. The Company acknowledges that Executive will have the right to be represented 

  
 13 

 
by legal counsel of her choosing at any arbitration proceeding. The parties acknowledge and agree that their obligations to arbitrate under this Section survive the termination of this Agreement
and continue after the termination of the employment relationship between Executive and the Company. The parties each further agree that the arbitration provisions of this Agreement shall provide each party with its exclusive remedy, and each party
expressly waives any right it might have to seek redress in any other forum, except as otherwise expressly provided in this Agreement. By electing arbitration as the means for final settlement of all claims, the parties hereby waive their
respective rights to, and agree not to, sue each other in any action in a Federal, State or local court with respect to such claims, but may seek to enforce in court an arbitration award rendered pursuant to this Agreement. The parties specifically
agree to waive their respective rights to a trial by jury, and further agree that no demand, request or motion will be made for trial by jury. Nothing in this Agreement is intended to prevent either Executive or the Company from obtaining injunctive
relief in a Federal, State or local court to prevent irreparable harm pending the conclusion of any arbitration pursuant to this Section 8.9. 

IN WITNESS WHEREOF, the parties have executed this Employment Agreement on
the day and year first written above. 
  

			
	ELIEM THERAPEUTICS, INC.
		
	By:	 	/s/ Andrew Levin
	Name:	 	Andrew Levin
	Title:	 	Managing Director
	
	Executive:
	
	/s/ Erin M. Lavelle
	Erin M. Lavelle

  
 14 

 EXHIBIT A 

CHANGE IN CONTROL 

(a) In connection with the terms of Section 6.2(b) of the Employment Agreement, “Change in Control” means
the occurrence, in a single transaction or in a series of related transactions, of any one or more of the following events: 
 (i)
any Exchange Act Person becomes the Owner, directly or indirectly, of securities of the Company representing more than 50% of the combined voting power of the Company’s then outstanding securities other than by virtue of a merger, consolidation
or similar transaction. Notwithstanding the foregoing, a Change in Control will not be deemed to occur (A) on account of the acquisition of securities of the Company directly from the Company, (B) on account of the acquisition of
securities of the Company by an investor, any affiliate thereof or any other Exchange Act Person that acquires the Company’s securities in a transaction or series of related transactions the primary purpose of which is to obtain financing for
the Company through the issuance of equity securities or (C) solely because the level of Ownership held by any Exchange Act Person (the “Subject Person”) exceeds the designated percentage threshold of the outstanding
voting securities as a result of a repurchase or other acquisition of voting securities by the Company reducing the number of shares outstanding, provided that if a Change in Control would occur (but for the operation of this sentence) as a result
of the acquisition of voting securities by the Company, and after such share acquisition, the Subject Person becomes the Owner of any additional voting securities that, assuming the repurchase or other acquisition had not occurred, increases the
percentage of the then outstanding voting securities Owned by the Subject Person over the designated percentage threshold, then a Change in Control will be deemed to occur; 

(ii) there is consummated a merger, consolidation or similar transaction involving (directly or indirectly) the Company and,
immediately after the consummation of such merger, consolidation or similar transaction, the stockholders of the Company immediately prior thereto do not Own, directly or indirectly, either (A) outstanding voting securities representing more
than 50% of the combined outstanding voting power of the surviving Entity in such merger, consolidation or similar transaction or (B) more than 50% of the combined outstanding voting power of the parent of the surviving Entity in such merger,
consolidation or similar transaction, in each case in substantially the same proportions as their Ownership of the outstanding voting securities of the Company immediately prior to such transaction; 

(iii) there is consummated a sale, lease, exclusive license or other disposition of all or substantially all of the consolidated assets
of the Company and its Subsidiaries, other than a sale, lease, license or other disposition of all or substantially all of the consolidated assets of the Company and its Subsidiaries to an Entity, more than 50% of the 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 outstanding voting securities of the Company immediately prior to such sale, lease, license or other disposition; or

 (iv) the Continuing Directors (as defined below) do not constitute a majority of the Board (or, if applicable, the Board of a
successor corporation to the Company), where the term “Continuing Director” means at any date a member of the Board (A) who was a member of the 

 
Board on the Effective Date or (B) who was nominated or elected subsequent to such date by a majority of the directors who were Continuing Directors at the time of such nomination or
election or whose election to the Board was recommended or endorsed by a majority of the directors who were Continuing Directors at the time of such nomination or election; provided, however, that any individual whose initial
assumption of office occurred as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents, by or on behalf of a person other than the
Board, is excluded from clause (iv)(B) above. 
 Notwithstanding the foregoing definition, the term Change in Control will not include a sale of assets,
merger or other transaction effected exclusively for the purpose of changing the domicile of the Company. 
 (b) Capitalized terms
shall have the meanings ascribed to them in the Employment Agreement unless otherwise defined in this Exhibit B. 
 (c) For purposes
of the definition of Change in Control, the following definitions shall apply: 
 (i) “Affiliate” means, at
the time of determination, any “parent” or “majority-owned subsidiary” of the Company, as such terms are defined in Rule 405. The Board will have the authority to determine the time or times at which “parent” or
“majority-owned subsidiary” status is determined within the foregoing definition. 
 (ii) “Common
Stock” means the common stock of the Company. 
 (iii) “Entity” means a corporation,
partnership, limited liability company or other entity. 
 (iv) “Exchange Act Person” means any natural
person, Entity or “group” (within the meaning of Section 13(d) or 14(d) of the Securities Act of 1933, as amended), except that “Exchange Act Person” will not include (i) the Company or any Subsidiary of the Company,
(ii) any employee benefit plan of the Company or any Subsidiary of the Company or any trustee or other fiduciary holding securities under an employee benefit plan of the Company or any Subsidiary of the Company, (iii) an underwriter
temporarily holding securities pursuant to a registered public offering of such securities, (iv) an Entity Owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their Ownership of stock of
the Company; or (v) any natural person, Entity or “group” (within the meaning of Section 13(d) or 14(d) of the Exchange Act) that, as of the Effective Date, is the Owner, directly or indirectly, of securities of the Company
representing more than 50% of the combined voting power of the Company’s then outstanding securities. 
 (v)
“Own,” “Owned,” “Owner,” “Ownership” A person or Entity will be deemed to “Own,” to have “Owned,” to be
the “Owner” of, or to have acquired “Ownership” of securities if such person or Entity, directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise, has or
shares voting power, which includes the power to vote or to direct the voting, with respect to such securities. 

  
 2 

 (vi) “Rule 405” means Rule 405 promulgated under the
Securities Act of 1933, as amended. 
 (vii) “Subsidiary” means, with respect to the Company, (i) any
corporation of which more than 50% of the outstanding capital stock having ordinary voting power to elect a majority of the board of directors of such corporation (irrespective of whether, at the time, stock of any other class or classes of such
corporation will have or might have voting power by reason of the happening of any contingency) is at the time, directly or indirectly, Owned by the Company, and (ii) any partnership, limited liability company or other entity in which the
Company has a direct or indirect interest (whether in the form of voting or participation in profits or capital contribution) of more than 50%. 

  
 3 

 AMENDMENT TO EMPLOYMENT AGREEMENT 

THIS AMENDMENT TO EMPLOYMENT AGREEMENT (this “Amendment”) is entered into as of July 27, 2021, (the
“Effective Date”) by and between Eliem Therapeutics, Inc. (the “Company”), and Erin M. Lavelle (“Executive”). 

R E C I T A L S 
 WHEREAS,
the Company and Executive previously entered into that certain Employment Agreement, dated as of October 1, 2020 (the “Employment Agreement”); and 

WHEREAS, the parties wish to amend the Employment Agreement as set forth herein. 

A G R E E M E N T 
 NOW,
THEREFORE, in consideration of the premises and mutual covenants herein and for other good and valuable consideration, the parties agree as follows: 

1. Amendment to Employment Agreement. The following shall be inserted as a new Section 6.9 of the Employment Agreement: 

6.9 Section 280G. If any payment or benefit Executive will or may receive from the Company or otherwise (a
“Payment”) would (i) constitute a “parachute payment” within the meaning of Section 280G of the Code, and (ii) but for this sentence, be subject to the excise tax imposed by Section 4999 of the
Code (the “Excise Tax”), then any such Payment shall be equal to the Reduced Amount. The “Reduced Amount” shall be either (x) the largest portion of the Payment that would result in no portion of
the Payment (after reduction) being subject to the Excise Tax or (y) the largest portion, up to and including the total, of the Payment, whichever amount (i.e., the amount determined by clause (x) or by clause (y)), after taking into
account all applicable federal, state and local employment taxes, income taxes, and the Excise Tax (all computed at the highest applicable marginal rate), results in Executive’s receipt, on an after-tax
basis, of the greater economic benefit notwithstanding that all or some portion of the Payment may be subject to the Excise Tax. If a reduction in a Payment is required pursuant to the preceding sentence and the Reduced Amount is determined pursuant
to clause (x) of the preceding sentence, the reduction shall occur in the manner (the “Reduction Method”) that results in the greatest economic benefit for Executive. If more than one method of reduction will result in
the same economic benefit, the items so reduced will be reduced pro rata (the “Pro Rata Reduction Method”). 

Notwithstanding any provisions in this Section 6.9 to the contrary, if the Reduction Method or the Pro Rata Reduction
Method would result in any portion of the Payment being subject to taxes pursuant to Section 409A that would not otherwise be subject to taxes pursuant to Section 409A, then the Reduction Method and/or the Pro Rata Reduction Method, as the
case may be, shall be modified so as to avoid the imposition of taxes pursuant to Section 409A as follows: (i) as a first priority, the modification shall preserve to the greatest extent possible, the greatest economic benefit for
Executive as determined on an after-tax basis; (ii) as a second 

 
priority, Payments that are contingent on future events (e.g., being terminated without Cause), shall be reduced (or eliminated) before Payments that are not contingent on future events; and
(iii) as a third priority, Payments that are “deferred compensation” within the meaning of Section 409A shall be reduced (or eliminated) before Payments that are not deferred compensation within the meaning of Section 409A.

 The Company shall appoint a nationally recognized accounting or law firm to make the determinations required by this
Section 6.9. The Company shall bear all expenses with respect to the determinations by such accounting or law firm required to be made hereunder. If Executive receives a Payment for which the Reduced Amount was determined pursuant to clause
(x) above and the Internal Revenue Service determines thereafter that some portion of the Payment is subject to the Excise Tax, Executive agrees to promptly return to the Company a sufficient amount of the Payment (after reduction pursuant to
clause (x) above) so that no portion of the remaining Payment is subject to the Excise Tax. For the avoidance of doubt, if the Reduced Amount was determined pursuant to clause (y) above, Executive shall have no obligation to return any
portion of the Payment pursuant to the preceding sentence. 
 (b) All other terms and provisions of the Employment Agreement shall remain in
full force and effect. 
 2. Severability. Whenever possible, each provision of this Amendment will be interpreted in such manner as
to be effective and valid under applicable law, but if any provision of this Amendment is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or
unenforceability will not affect any other provision or any other jurisdiction, but this Amendment will be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provisions had never been contained herein.

 3. Complete Agreement. This Amendment constitutes the entire agreement between Executive and the Company with regard to the
subject matter hereof. This Amendment is the complete, final, and exclusive embodiment of their agreement with regard to this subject matter and supersedes any prior oral discussions or written communications and agreements; provided, however, that
this Amendment modifies but does not supersede the Employment Agreement. 
 4. Choice of Law. All questions concerning the
construction, validity and interpretation of this Amendment will be governed by the law of the State of Washington. 
 5.
Counterparts. This Amendment may be executed in two or more counterparts, any one of which need not contain signatures of more than one party, but all of which taken together will constitute one and the same Amendment each of which shall be
deemed an original, but all of which together shall constitute one and the same instrument. 
 [SIGNATURE PAGE FOLLOWS] 

  
 2 

 IN WITNESS WHEREOF, each of the parties has executed this Amendment as of the day and year first
above written. 
  

			
	ELIEM THERAPEUTICS, INC.

 
			
		
	By:	 	 /s/ Robert Azelby

 

			
	Name:	 	Bob Azelby

 
			
	Title:	 	President and Chief Executive Officer

 
			
	
	EXECUTIVE
	
	 /s/ Erin M. Lavelle

	Erin M. Lavelle

 [SIGNATURE PAGE TO AMENDMENT TO EMPLOYMENT AGREEMENT]EX-4.2

 Exhibit 4.2 

Execution Version 

VMWARE, INC., 
 as the Company,

 and 
 The Bank of New York
Mellon Trust Company, N.A., 
 as the Trustee 

SEVENTH SUPPLEMENTAL INDENTURE 

DATED AS OF AUGUST 2, 2021 

to 
 INDENTURE 

DATED AS OF AUGUST 21, 2017 

Relating to 
 $1,000,000,000 of
0.600% Notes due 2023 

 SEVENTH SUPPLEMENTAL INDENTURE 

SEVENTH SUPPLEMENTAL INDENTURE, dated as of August 2, 2021 (this “Seventh Supplemental Indenture”), between
VMware, Inc. (the “Company”), a Delaware corporation and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”), to the Base Indenture (as defined below). 

RECITALS 

WHEREAS, the Company has heretofore executed and delivered to the Trustee an Indenture, dated as of August 21, 2017 (the
“Base Indenture” and, together with this Seventh Supplemental Indenture, the “Indenture”), providing for the issuance from time to time of its notes and other evidences of debt securities, to be issued in one or
more series as therein provided; 
 WHEREAS, pursuant to the terms of the Base Indenture, on the date hereof, the Company desires to
provide for the establishment of five series of notes to be known respectively as its 0.600% Notes due 2023, its 1.000% Notes due 2024, its 1.400% Notes due 2026, its 1.800% Notes due 2028 and its 2.200% Notes due 2031, the form and substance of
such notes and the terms, provisions and conditions thereof to be set forth as provided in the Base Indenture and in supplemental indentures thereto; 

WHEREAS, this Seventh Supplemental Indenture relates to and sets forth the terms and conditions of the 0.600% Notes due 2023 (the
“Notes”); and 
 WHEREAS, the Company has requested that the Trustee execute and deliver this Seventh Supplemental
Indenture, and all requirements necessary to make this Seventh Supplemental Indenture a legal, valid and binding instrument in accordance with its terms, to make the Notes, when executed by the Company and authenticated and delivered by the Trustee,
the legal, valid and binding obligations of the Company, and all acts and things necessary have been done and performed to make this Seventh Supplemental Indenture enforceable in accordance with its terms, and the execution and delivery of this
Seventh Supplemental Indenture has been duly authorized in all respects; 
 WITNESSETH: 

NOW, THEREFORE, for and in consideration of the premises contained herein, each party agrees for the benefit of each other party and
for the equal and ratable benefit of the Holders of the Notes, as follows: 
 Article One 

Definitions 

Section 1.01    Capitalized terms used but not defined in this Seventh Supplemental Indenture shall have the meanings
ascribed to them in the Base Indenture. 
 Section 1.02    References in this Seventh Supplemental Indenture to
article and section numbers shall be deemed to be references to article and section numbers of this Seventh Supplemental Indenture unless otherwise specified. 

Section 1.03    For purposes of this Seventh Supplemental Indenture, the following terms have the meanings ascribed
to them as follows: 
 “Additional Notes” means any additional Notes that may be issued from time to time pursuant to
Section 2.01(b). 
 “Attributable Debt” means, in respect of a Sale and Lease-Back Transaction involving a Principal
Property, at the time of determination, the lesser of: (a) the fair value of such property (as determined in good faith by the Board of Directors); or (b) the present value of the total net amount of rent required to be paid under such
lease during the 

 
remaining term thereof (including any renewal term or period for which such lease has been extended), discounted at the rate of interest set forth or implicit in the terms of such lease or, if
not practicable to determine such rate, the weighted average interest rate per annum borne by the securities of each series outstanding pursuant to the Indenture compounded semi-annually. For purposes of the foregoing definition, rent shall not
include amounts required to be paid by the lessee, whether or not designated as rent or additional rent, on account of or contingent upon maintenance and repairs, insurance, taxes, assessments, water rates and similar charges. In the case of any
lease which is terminable by the lessee upon the payment of a penalty, such net amount shall be the lesser of the net amount determined assuming termination upon the first date such lease may be terminated (in which case the net amount shall also
include the amount of the penalty, but no rent shall be considered as required to be paid under such lease subsequent to the first date upon which it may be so terminated) and the net amount determined assuming no such termination. 

“Base Indenture” has the meaning provided in the Recitals. 

“Below Investment Grade Rating Event” means, with respect to the Notes, the rating on the Notes is lowered by each of the
Rating Agencies within 60 days from the earlier of (1) the date of the first public notice of an arrangement that could result in a Change of Control or (2) the occurrence of a Change of Control (which period shall be extended so long as
the rating of the Notes is under publicly announced consideration for possible downgrade by any of the Rating Agencies); provided, however, that a ratings event otherwise arising by virtue of a particular reduction in rating will not be
deemed to have occurred in respect of a particular change of control (and thus will not be deemed a Below Investment Grade Rating Event for purposes of the definition of Change of Control Repurchase Event) unless each of the Rating Agencies making
the reduction in rating to which this definition would otherwise apply announces or publicly confirms that the reduction was the result, in whole or in part, of any event or circumstance comprised of or arising as a result of, or in respect of, the
applicable Change of Control (whether or not the applicable Change of Control has occurred at the time of the Below Investment Grade Rating Event); provided, further, that notwithstanding the foregoing, a Below Investment Grade Rating
Event shall not be deemed to have occurred so long as the Notes are rated Investment Grade by any of the Rating Agencies. The Trustee shall not be responsible for monitoring the ratings of the Notes nor shall it be charged with knowledge of such
ratings. 
 “Change of Control” means the occurrence of any of the following: 

(1) the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series
of related transactions, of all or substantially all of the Company’s assets and those of the Company’s subsidiaries, taken as a whole, to any “person” or “group” (as those terms are used for purposes of
Section 13(d)(3) of the Exchange Act), other than a Permitted Parent, the Company or one or more of the Company’s Subsidiaries; (2) the Company becomes aware of (by way of a report or any other filing pursuant to Section 13(d) of
the Exchange Act, proxy, vote, written notice or otherwise) the consummation of any transaction or series of related transactions (including, without limitation, any merger or consolidation) the result of which is that any “person” or
“group” (as those terms are used for purposes of Section 13(d)(3) of the Exchange Act), other than a Permitted Parent, the Company or one of the Company’s wholly owned subsidiaries, becomes the beneficial owner, directly or
indirectly, of more than 50% of the then outstanding Voting Stock, measured by voting power rather than number of shares; (3) the Company consolidates with, or merges with or into, any person, or any person consolidates with, or merges with or
into, the Company, in any such event pursuant to a transaction in which any of the Company’s outstanding Voting Stock or the Voting Stock of such other person is converted into or exchanged for cash, securities or other property, other than any
such transaction where the shares of the Company’s Voting Stock outstanding immediately prior to such transaction constitute, or are converted into or exchanged for, a majority of the Voting Stock of the surviving person or any direct or
indirect parent company of the surviving person, measured by voting power rather than number of shares, immediately after giving effect to such transaction; (4) Dell, together with its Parent Entities and Subsidiaries, becomes the beneficial
owner, directly or indirectly, of 90% or more of each class of our then outstanding capital stock; or (5) the adoption by the Company of a plan providing for the Company’s liquidation or dissolution. 

Notwithstanding the foregoing, (A) a transaction will not be considered to be a Change of Control under clause (2) above if
(x) the Company becomes a direct or indirect wholly owned subsidiary of a holding company and (y) immediately following that transaction, the direct or indirect holders of the Voting Stock of the holding company are substantially the same
as the holders of the Company’s Voting Stock immediately prior to that transaction, (B) any change in the Persons who are the direct or indirect beneficial owners of Dell will not be considered a Change of Control and (C) Dell’s
distribution or transfer of our shares in a transaction intended to qualify as a tax free distribution or transfer under Section 355 of the Internal Revenue Code will not be considered a Change of Control. 

  
 2 

 “Change of Control Repurchase Event” means the occurrence of both a Change
of Control and a Below Investment Grade Rating Event. 
 “Commission” means the U.S. Securities and Exchange Commission.

 “Company” has the meaning provided in the Preamble. 

“Comparable Treasury Issue” means the United States Treasury security selected, in accordance with customary financial
practice, by an Independent Investment Banker as having a maturity comparable to the remaining term (“Remaining Life”) of the Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial
practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining term of such notes. 

“Comparable Treasury Price” means, with respect to any redemption date, (1) the average of the Reference Treasury Dealer
Quotations for such redemption date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (2) if the Company obtains fewer than four such Reference Treasury Dealer Quotations, the average of all such quotations. 

“Consolidated Net Tangible Assets” means total assets, less reserves, after deducting: (1) total current liabilities,
excluding, notes and loans payable, current maturities of long-term debt, and current maturities of capital leases, and (2) certain intangible assets, to the extent included in total assets. 

“Dell” means Dell Technologies, Inc. 

“Depositary” has the meaning provided in Section 2.03(d). 

“Fitch” means Fitch Ratings Ltd. and its successors. 

“Indenture” has the meaning provided in the Recitals. 

“Independent Investment Banker” means one of the Reference Treasury Dealers that the Company appoints to act as the
Independent Investment Banker from time to time. 
 “Interest Payment Date” has the meaning provided in
Section 2.04(a). 
 “Investment Grade” means a rating of BBB- or better by
Fitch (or its equivalent under any successor rating categories of Fitch), Baa3 or better by Moody’s (or its equivalent under any successor rating categories of Moody’s) and a rating of BBB- or better
by S&P (or its equivalent under any successor rating categories of S&P) or the equivalent investment grade credit rating from any additional Rating Agency or Rating Agencies selected by the Company. 

“Issue Date” means August 2, 2021. 

“Lien” means a mortgage, security interest, pledge, lien, charge or other encumbrance. 

“Moody’s” means Moody’s Investors Services Inc. and its successors. 

“Nonrecourse Obligation” means indebtedness or other obligations substantially related to (i) the acquisition of assets
not previously owned by the Company or any Restricted Subsidiary or (ii) the financing of a project involving the development or expansion of properties of the Company or any Restricted Subsidiary, as to which the obligee with respect to such
indebtedness or obligation has no recourse to the Company or any Restricted Subsidiary or any assets of the Company or any Restricted Subsidiary other than the assets which were acquired with the proceeds of such transaction or the project financed
with the proceeds of such transaction (and the proceeds thereof). 

  
 3 

 “Notes” has the meaning provided in the Recitals. For the avoidance of
doubt, “Notes” shall include any Additional Notes. 
 “Parent Entity” means any person that, with respect to
another person, owns 50% or more of the total voting power of the Voting Stock of such other person. 
 “Permitted Parent”
means (a) Dell, any Parent Entity of Dell or any Subsidiary of Dell and (b) any Parent Entity that at the time it became a Parent Entity of the Company was not formed in connection with, or in contemplation of, a transaction that would
otherwise constitute a Change of Control and that beneficially owns 100% of the Voting Stock of the Company; provided that the stockholders of the Company prior to such transaction beneficially own all of the voting stock of such Permitted Parent
upon completion of such transaction. 
 “Principal Property” means the land, improvements, buildings and fixtures owned by
the Company or a Restricted Subsidiary located in the United States that constitutes the Company’s principal corporate office, any manufacturing plant, any manufacturing facility, any research and development facility and any service and
support facility (in each case including associated office facilities) and has a net book value in excess of 1% of the Company’s Consolidated Net Tangible Assets as of the determination date. Notwithstanding the foregoing, Principal Property
does not include any property that the Board of Directors of the Company has determined in good faith not to be of material importance to the business conducted by the Company and its Subsidiaries, taken as a whole. 

“Rating Agency” means (1) each of Fitch, Moody’s and S&P; and (2) if any of Fitch, Moody’s or S&P
ceases to rate the Notes or fails to make a rating of the Notes publicly available for reasons outside of the Company’s control, a “nationally recognized statistical rating organization” within the meaning of Section 3(a)(62) of
the Exchange Act, selected by the Company as a replacement agency for Fitch, Moody’s or S&P, or all of them, as the case may be. 

“Reference Treasury Dealer” means each of Barclays Capital, Inc., BofA Securities, Inc., Citigroup Global Markets Inc. and
J.P. Morgan Securities LLC, and one additional dealer in U.S. Government securities selected by the Company (each a “Primary Treasury Dealer”) and their respective successors which the Company specifies from time to time; provided,
however, that if any of them ceases to be a Primary Treasury Dealer, the Company will substitute therefor another Primary Treasury Dealer. 

“Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any redemption date, the
average, as determined by the Company, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Company by such Reference Treasury Dealer at 5:00 p.m.,
New York City time, on the third Business Day preceding such redemption date. 
 “Restricted Subsidiary” means (1) any
Subsidiary of the Company that (a) is a wholly-owned Subsidiary, (b) is a domestic Subsidiary and (c) owns or is a lessee of any Principal Property and (2) any other subsidiary that the Board of Directors of the Company may
designate as a Restricted Subsidiary. 
 “S&P” means S&P Global Ratings, and its successors. 

“Sale and Lease-back Transaction” means any arrangement with any Person providing for the leasing by the Company or any
Restricted Subsidiary of any Principal Property which property has been or is to be sold or transferred by the Company or such Restricted Subsidiary to such Person. 

“Secured Debt” means any debt for borrowed money secured by a Lien upon any Principal Property of the Company or any
Restricted Subsidiary or upon any shares of stock or indebtedness of any Restricted Subsidiary (whether such Principal Property, shares or indebtedness are now existing or owed or hereafter created or acquired). 

  
 4 

 “Separation and Distribution Agreement” means that certain Separation and
Distribution Agreement, dated as of April 14, 2021, by and between the Company and Dell. 
 “Seventh Supplemental
Indenture” has the meaning provided in the Preamble. 
 “Spin-Off” means,
pursuant to the terms of the Separation and Distribution Agreement, Dell’s pro rata distribution of the Company’s Class A common stock and Class B common stock owned by Dell’s wholly owned subsidiaries, to the holders of
shares of Dell as of a particular record date. 
 “Subsidiary” means a corporation of which more than 50% of the
outstanding voting stock of such corporation is at the time owned, directly or indirectly, by the Company or by one or more other Subsidiaries, or by the Company and one or more other Subsidiaries, and the accounts of which are consolidated with
those of the Company in its most recent consolidated financial statements in accordance with generally accepted accounting principles. For the purposes of this definition, “voting stock” means stock which ordinarily has voting power for
the election of directors, whether at all times or only so long as no senior class of stock has such voting power by reason of any contingency. 

“Treasury Rate” means, as of any redemption date, the rate per year equal to: (1) the yield, under the heading which
represents the average for the immediately preceding week, appearing in, or available through, the most recently published statistical release designated “H.15” or any successor publication which is published weekly by the Board of
Governors of the Federal Reserve System (or companion online data resource published by the Board of Governors of the Federal Reserve System) and which established yields on actively traded United States Treasury securities adjusted to constant
maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the applicable Comparable Treasury Issue; provided that, if no maturity is within three months before or after the Remaining Life of the notes to
be redeemed, yields for the two published maturities most closely corresponding to the applicable Comparable Treasury Issue will be determined and the Treasury Rate will be interpolated or extrapolated from those yields on a straight line basis,
rounding to the nearest month; or (2) if such release (or any successor release) is not published during the week preceding the calculation date or does not contain such yields, the rate per year equal to the semiannual equivalent yield to
maturity of the applicable Comparable Treasury Issue, calculated using a price for the applicable Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the related Comparable Treasury Price for such redemption date.
The Treasury Rate will be calculated by us on the third business day preceding the redemption date. As used in the immediately preceding sentence and in the definition of “Reference Treasury Dealer Quotations” above, the term
“business day” means any day that is not a Saturday, Sunday or other day on which commercial banks in New York City are authorized or obligated by law or executive order to close. 

“Trustee” has the meaning provided in the Preamble. 

“Voting Stock” means, with respect to any person as of any date, capital stock of any class or kind the holders of which are
ordinarily, in the absence of contingencies, entitled to vote for the election of directors (or persons performing similar functions) of such person, even if the right so to vote has been suspended by the happening of such a contingency. 

Article Two 
 General
Terms and Conditions of the Notes 
 Section 2.01    Designation and Principal Amount. 

(a)    The Notes are hereby authorized and designated the 0.600% Notes due 2023. The Notes may be authenticated and
delivered under the Indenture in an unlimited aggregate principal amount. The Notes issued on the date hereof pursuant to the terms of the Indenture shall be in an aggregate principal amount of $1,000,000,000, which amount shall be set forth in the
written order of the Company for the authentication and delivery of the Notes pursuant to Section 2.02 of the Base Indenture. The Notes will be senior unsecured obligations of the Company and will rank on the same basis with all of the
Company’s other senior unsecured indebtedness from time to time outstanding. 

  
 5 

 (b)    In addition, without the consent of the Holders of the Notes, the
Company may issue, from time to time in accordance with the provisions of the Indenture, Additional Notes having the same ranking and the same interest rate, maturity and other terms as the Notes (except for the issue date, issue price, and, in some
cases, the first payment of interest or interest accruing prior to the issue date of such additional Notes). Any Additional Notes having such similar terms, together with the Notes issued on the date hereof, shall constitute a single series of Notes
under the Indenture. Additional Notes of a series may only bear the same CUSIP number if they would be fungible for United States federal tax purposes with the existing Notes of that series. No Additional Notes may be issued if an Event of Default
has occurred with respect to the Notes. 
 Section 2.02    Maturity. 

The principal amount of the Notes shall mature and be due and payable, together with any accrued interest thereon, on August 15, 2023. If
the maturity date of the Notes falls on a day that is not a Business Day, payment of principal, premium, if any, and interest for such Notes then due will be paid on the next Business Day. No interest on that payment will accrue from and after the
maturity date. 
 Section 2.03    Form and Payment. 

(a)    The Notes shall be issued as global notes in fully registered book-entry form without coupons in denominations of
$2,000 and integral multiples of $1,000 in excess thereof. 
 (b)    The Notes are to be substantially in the form of
Exhibit A which form is hereby incorporated in and made a part of this Seventh Supplemental Indenture. 

(c)    The terms and provisions contained in the Notes shall constitute, and are hereby expressly made, a part of this
Seventh Supplemental Indenture, and the Company and the Trustee, by their execution and delivery of this Seventh Supplemental Indenture, expressly agree to such terms and provisions and to be bound thereby. 

(d)    Principal, premium, if any, and/or interest, if any, on the global notes representing the Notes shall be made to
The Depository Trust Company (together with any successor thereto, the “Depositary”). 
 (e)    The
global notes representing the Notes shall be deposited with, or on behalf of, the Depositary and shall be registered in the name of the Depositary or a nominee of the Depositary. No global note may be transferred except as a whole by a nominee of
the Depositary to the Depositary or to another nominee of the Depositary, or by the Depositary or such nominee to a successor of the Depositary or a nominee of such successor. 

Section 2.04    Interest. 

(a)    The Company shall make interest payments on the Notes at the interest rate of 0.600% per annum semi-annually in
arrears on February 15 and August 15 (each, an “Interest Payment Date”), beginning on February 15, 2022, to the Holders of record of the Notes at the close of business on the February 1 or August 1 immediately
preceding the related Interest Payment Date. Interest on the Notes shall be paid on the basis of a 360-day year comprised of twelve 30-day months. If an interest payment
date on the Notes falls on a date that is not a Business Day, the related payment of interest shall be made on the next succeeding Business Day as if made on the date the payment was due, and no interest on such payment shall accrue for the period
from and after such Interest Payment Date to the date of such payment on the next succeeding Business Day. 

Section 2.05    Other Terms and Conditions. 

(a)    The Notes are not subject to a sinking fund other than in the event of a Special Mandatory Redemption (as defined
below). 
 (b)    The Defeasance and Covenant Defeasance provisions of the Article Eight of the Base Indenture will
apply to the Notes. 

  
 6 

 (c)    The Notes will be subject to the Events of Default provided in
Section 6.01 of the Base Indenture. 
 (d)    The Trustee will initially be the Security Registrar and Paying Agent
for the Notes. 
 (e)    The Notes will be subject to the covenants provided in Article Four and Article Five of the
Base Indenture, as supplemented by Article Four herein. 
 (f)    The Notes will not be guaranteed by any Person or
Persons. 
 (g)    The Notes will not be convertible into or exchangeable for any other securities. 

Article Three 

Redemption 

Section 3.01    Optional Redemption. 

(1)    The Notes shall be redeemable in whole at any time or in part from time to time, at the Company’s option, prior
to the maturity thereof, at a redemption price as calculated by the Company equal to the greater of: (a) 100% of the principal amount of the Notes to be redeemed; and (b) the sum of the present values of the remaining scheduled payments of
principal and interest thereon (exclusive of interest accrued to the date of redemption), discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the then current Treasury Rate plus 10 basis points, plus, in the case of clauses (a) and (b), accrued and unpaid interest, if any on the amount being redeemed to, but excluding, the date of
redemption. 
 (2)    Notice of redemption shall be sent at least 10 but not more than 60 days before the redemption
date to each Holder of record of the Notes to be redeemed at its registered address. The notice of redemption for the Notes will state, among other things, the amount of Notes to be redeemed, the redemption date, the redemption price and the place
or places that payment will be made upon presentation and surrender of Notes to be redeemed. Unless the Company defaults in the payment of the redemption price, interest will cease to accrue on any Notes that have been called for redemption at the
redemption date. If fewer than all of the Notes are to be redeemed at any time, not more than 45 days prior to the redemption date, the particular Notes or portions thereof for redemption from the outstanding Notes not previously called shall be
selected in accordance with the procedures of DTC. The Trustee shall have no obligation to calculate any redemption price or premium. 

Section 3.02    Special Mandatory Redemption 

(1)    In the event that the closing of the Spin-Off has not occurred on or prior
to the earlier of (i) (x) April 28, 2022 or (y) if the Separation and Distribution Agreement is amended on or prior to April 28, 2022 to extend the date by which the Spin-Off must be
consummated to a date later than April 28, 2022, the earlier of such extended date and July 28, 2022, and (ii) the date the Separation and Distribution Agreement is terminated (such earlier date, the “Special Mandatory
Redemption Trigger Date”), the Company will be required to redeem the Notes in whole at a redemption price (the “Special Mandatory Redemption Price”) equal to 101% of the aggregate principal amount of the Notes, together
with accrued and unpaid interest on the principal amount of the Notes to, but not including, the Special Mandatory Redemption Date (as defined below) (the “Special Mandatory Redemption”). 

(2)    Upon the occurrence of the Special Mandatory Redemption Trigger Date, the Company will promptly (but in no event
later than 5 business days following the Special Mandatory Redemption Trigger Date) cause notice to be delivered electronically or mailed, with a copy to the Trustee, to each Holder of the Notes at its registered address (such date of notification
to the Holders, the “Redemption Notice Date”). The notice will inform Holders that the Notes will be redeemed on the 20th day (or if such day is not a Business Day, the first Business Day thereafter) following the Redemption Notice
Date (such date, the “Special Mandatory Redemption Date”) and that all of the outstanding Notes will be redeemed at the Special Mandatory Redemption Price on the Special Mandatory Redemption Date automatically and without any
further action by the Holders of the Notes. 

  
 7 

 (3)    At or prior to 12:00 p.m., New York City time, on the Business
Day immediately preceding the Special Mandatory Redemption Date, the Company will deposit with the Trustee funds sufficient to pay the Special Mandatory Redemption Price for the Notes. If such deposit is made as provided above, the Notes will cease
to bear interest on and after the Special Mandatory Redemption Date. The Trustee shall not be charged with knowledge of, or responsible for monitoring, whether a Special Mandatory Redemption Trigger Date has occurred. 

(4)    Upon the consummation of the Spin-Off prior to the occurrence of the
Special Mandatory Redemption Trigger Date, this Section 3.02 will cease to apply. 
 Article Four 

Additional Covenants 

Section 4.01    Repurchase at the Option of Holders on Certain Changes of Control. 

(a)    If a Change of Control Repurchase Event occurs, unless the Company has exercised or will concurrently exercise its
right to redeem the Notes as set forth in Article Three herein or to defease or satisfy and discharge the Notes, the Company shall make an offer to each Holder of the Notes to repurchase all or any part (equal to $2,000 or an integral multiple of
$1,000 in excess thereof) of that holder’s Notes at a repurchase price in cash equal to 101% of the aggregate principal amount of Notes repurchased plus any accrued and unpaid interest on the Notes repurchased to, but excluding, the date of
purchase. 
 (b)    Within 30 days following any Change of Control Repurchase Event or, at the Company’s option,
prior to any Change of Control, but after the public announcement of the transaction or event that constitutes or may constitute the Change of Control, the Company shall send a notice to each Holder to which the Company is required to make a
repurchase offer as described in clause (a) above, with a copy to the Trustee, describing the transaction or event that constitutes or may constitute the Change of Control Repurchase Event and offering to repurchase the Notes on the payment
date specified in the notice, which date shall be no earlier than 30 days and no later than 60 days from the date such notice is sent. The notice may, if sent prior to the date of consummation of the Change of Control, state that the offer to
purchase is conditioned on the Change of Control Repurchase Event occurring on or prior to the payment date specified in the notice. 

(c)    On the Change of Control Repurchase Event payment date, the Company shall, to the extent lawful: 

(i)    accept for payment all Notes or portions of Notes (in a minimum principal amount of $2,000 and
integral multiples of $1,000 in excess thereof) properly tendered and not withdrawn pursuant to the Company’s offer; 

(ii)    deposit with the Paying Agent an amount equal to the aggregate purchase price in respect of all
Notes or portions of Notes properly tendered and not withdrawn; and 
 (iii)    deliver or cause to be
delivered to the Trustee the Notes properly accepted, together with an Officers’ Certificate stating the aggregate principal amount of Notes or portions of Notes being purchased by the Company. 

The Paying Agent will promptly send to each Holder of Notes properly tendered and not withdrawn the purchase price for such Notes, and the
Trustee will promptly authenticate and send (or cause to be transferred by book-entry) to each holder a new Note equal in principal amount to any unpurchased portion of any such Notes surrendered; provided, that each new Note will be in a minimum
principal amount of $2,000 or an integral multiple of $1,000 in excess thereof. 
 (d)    The Company will not be
required to make an offer to repurchase the Notes upon a Change of Control Repurchase Event if a third party makes such an offer in the manner, at the times and otherwise in compliance with the requirements for an offer made by the Company and such
third party purchases all Notes properly tendered and not withdrawn under its offer. 

  
 8 

 (e)    If Holders of not less than 90% in aggregate principal amount of
the outstanding Notes validly tender and do not withdraw such Notes in a change of control offer and the Company, or any third party approved in writing by the Company making a change of control offer in lieu of the Company as described herein,
purchases all of the Notes validly tendered and not withdrawn by such Holders, the Company or such third party will have the right, upon not less than 10 nor more than 60 days’ prior notice, given not more than 30 days following such purchase
pursuant to the change of control offer, to redeem (with respect to the Company) or purchase (with respect to a third party) all Notes that remain outstanding following such purchase on a date (the “Second Change of Control Payment
Date”) at a price in cash equal to the change of control payment in respect of the Second Change of Control Payment Date. 

(f)    The Company will comply with the requirements of Rule 14e-1 under the
Exchange Act and any other securities laws and regulations thereunder, to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change of Control Repurchase Event. To the extent that the
provisions of any securities laws or regulations conflict with this Section 4.01, the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under this Section 4.01
by virtue of any such conflict. 
 Section 4.02    Limitations on Liens. 

(a)    The Company shall not issue, incur, create, assume or guarantee, and shall not permit any Restricted Subsidiary to
issue, incur, create, assume or guarantee, any Secured Debt without in any such case effectively providing concurrently with issuance, incurrence, creation, assumption or guarantee of any such Secured Debt, or the grant of a Lien with respect to any
such indebtedness, that the Notes (together with, if the Company shall so determine, any other indebtedness of or guarantee by the Company or such Restricted Subsidiary ranking equally with the Notes and then existing or thereafter created) shall be
secured equally and ratably with (or, at the Company’s option, prior to) such Secured Debt. The foregoing restriction with respect to Secured Debt, however, shall not apply to: 

(1)    Liens on property existing at the time of acquisition thereof by the Company or any Subsidiary, whether or not
assumed, provided that such Liens were not incurred in connection with such acquisition; 
 (2)    Liens on property,
shares of stock or indebtedness or other assets of any corporation existing at the time such corporation becomes a Restricted Subsidiary, provided that such Liens are not incurred in anticipation of such corporation becoming a Restricted Subsidiary
(which may include property previously leased by the Company and leasehold interests thereon, provided that the lease terminates prior to or upon the acquisition); 

(3)    Liens on property, shares of stock or indebtedness (including capitalized lease obligations) to secure the payment
of all or any part of the purchase price thereof, or Liens on property, shares of stock or indebtedness to secure any indebtedness for borrowed money incurred prior to, at the time of or within 24 months after, the latest of the acquisition thereof,
or, in the case of property, the completion of construction, the completion of improvements, or the commencement of substantial commercial operation of such property for the purpose of financing all or any part of the purchase price thereof, such
construction, or the making of such improvements; 
 (4)    Liens to secure indebtedness owing to the Company or to a
Subsidiary; 
 (5)    Liens existing on the Issue Date; 

(6)    Liens on property of a corporation existing at the time such corporation is merged into or consolidated with the
Company or a Restricted Subsidiary or at the time of a sale, lease or other disposition of the properties of a corporation as an entirety or substantially as an entirety to the Company or a Restricted Subsidiary, provided that such Lien was not
incurred in anticipation of such merger or consolidation or sale, lease or other disposition; 

  
 9 

 (7)    Liens in favor of the United States or any State, territory or
possession thereof (or the District of Columbia), or any department, agency, instrumentality or political subdivision of the United States or any State, territory or possession thereof (or the District of Columbia), (i) to secure partial, progress,
advance or other payments pursuant to any contract or statute, (ii) to secure any indebtedness incurred for the purpose of financing all or any part of the purchase price of the cost of constructing, repairing or improving the property subject
to such Liens or (iii) to secure taxes, assessments or other governmental charges or levies which are not yet due and payable or are payable without penalty or of which amount, applicability or validity is being contested by the Company and/or
any Restricted Subsidiary in good faith by appropriate proceedings and the Company and/or such Restricted Subsidiary shall have set aside in its books reserves which it deems to be adequate with respect thereto (segregated to the extent required by
generally accepted accounting principles); 
 (8)    Liens created in connection with the acquisition of assets or a
project financed with, and created to secure, a Nonrecourse Obligation; 
 (9)    Liens for materialmen’s,
mechanics’, workmen’s, repairmen’s, landlord’s Liens for rent, or other similar Liens arising in the ordinary course of business in respect of obligations which are not yet overdue or which are being contested by the Company or
any Restricted Subsidiary in good faith and by appropriate proceedings; 
 (10)    Liens consisting of zoning
restrictions, licenses, easements and restrictions on the use of real property and minor defects and irregularities in the title thereto, which do not materially impair the use of such property by the Company or any Restricted Subsidiary in the
operation of business or the value of such property for the purpose of such business; and 
 (11)    extensions,
renewals, refinancings or replacements of any Lien referred to in the foregoing clauses (1), (2), (3), (4), (5), (6), (7), (8), (9) and (10) provided, however, that any Liens permitted by any of the foregoing clauses (1), (2), (3), (4), (5),
(6), (7), (8), (9) and (10) shall not extend to or cover any property of the Company or such Restricted Subsidiary, as the case may be, other than the property, if any, specified in such clauses and improvements thereto, and provided further
that any refinancing or replacement of any Liens permitted by the foregoing clauses (7) and (8) shall be of the type referred to in such clauses (7) or (8), as the case may be. 

(b)    Notwithstanding the restrictions outlined in the preceding paragraph, the Company or any Restricted Subsidiary will
be permitted to issue, incur, create, assume or guarantee Secured Debt, which would otherwise be subject to such restrictions, without equally and ratably securing the Notes, provided that after giving effect thereto, the aggregate principal amount
of all Secured Debt (not including Liens permitted under clauses (1) through (11) above) does not exceed the greater of $1,000 million or 15% of the Consolidated Net Tangible Assets of the Company as most recently determined on or prior to
such date. 
 (c)    For purposes of determining compliance with this Section 4.02, (i) a Lien need not be incurred
solely by reference to any particular subclause of clause (a) or in reliance upon clause (b) but are permitted to be incurred in part under any combination thereof and of any other available exemption and (ii) in the event that a Lien
(or any portion thereof) meets the criteria of one or more of the foregoing clauses and/or is permitted to be incurred in reliance upon the immediately preceding paragraph, the Company may, in its sole discretion, classify or reclassify such Lien
(or any portion thereof) in any manner that complies with this Section 4.02. 
 (d)    Any Lien created for the
benefit of the Holders of the Notes pursuant to clause (a) above may provide by its terms that such Lien shall be automatically and unconditionally released and discharged upon the release and discharge of the Lien that gave rise to the
obligation to secure the Notes. 
 Section 4.03    Limitations on Sale and Lease-Back Transactions. 

(a)    The Company shall not, nor shall it permit any Restricted Subsidiary to, enter into any Sale and Lease-Back
Transaction with respect to any Principal Property, other than any such transaction involving a lease for a term of not more than three years or any such transaction between the Company and a Restricted Subsidiary or between Restricted Subsidiaries,
unless: (1) the Company or such Restricted Subsidiary would be entitled to incur 

  
 10 

 
indebtedness secured by a Lien on the Principal Property involved in such transaction at least equal in amount to the Attributable Debt with respect to such Sale and Lease-Back Transaction,
without equally and ratably securing the Notes as described in Section 4.02(a); or (2) the Company shall apply an amount equal to the greater of the net proceeds of such sale or the Attributable Debt with respect to such Sale and
Lease-Back Transaction within 365 days of such sale to either (or a combination of) the retirement (other than mandatory retirement, mandatory prepayment or sinking fund payment or by a payment at maturity) of debt for borrowed money of the Company
or a Restricted Subsidiary that matures more than 12 months after the creation of such indebtedness or the purchase, construction or development of other comparable property. 

(b)    Notwithstanding the restrictions outlined in clause (a) above, the Company or any Restricted Subsidiary shall
be permitted to enter into Sale and Lease-Back Transactions which would otherwise be subject to such restrictions, without applying the net proceeds of such transactions in the manner set forth in clause (2) of the preceding paragraph, provided
that after giving effect thereto, the aggregate amount of such sale and Lease-Back Transactions, together with the aggregate amount of all Secured Debt not permitted by clauses (1) through (11) under Section 4.02(a), does not exceed the
greater of $1,000 million or 15% of Consolidated Net Tangible Assets of the Company as most recently determined on or prior to such date. 

Article Five 

Miscellaneous 

Section 5.01    Application of Seventh Supplemental Indenture. 

The Indenture, as supplemented by this Seventh Supplemental Indenture, is in all respects ratified and confirmed. This Seventh Supplemental
Indenture shall be deemed part of the Base Indenture in the manner and to the extent herein and therein provided. 

Section 5.02    Trust Indenture Act. 

If any provision hereof limits, qualifies or conflicts with the duties imposed by Sections 310 through 317 of the Trust Indenture Act, the
imposed duties shall control. 
 Section 5.03    Conflict with Base Indenture. 

To the extent not expressly amended or modified by this Seventh Supplemental Indenture, the Base Indenture shall remain in full force and
effect. If any provision of this Seventh Supplemental Indenture relating to the Notes is inconsistent with any provision of the Base Indenture, the provision of this Seventh Supplemental Indenture shall control. 

Section 5.04    Governing Law; Submission of Jurisdiction; Waiver of Jury Trial. 

THIS SEVENTH SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. The Company
hereby irrevocably submits to the jurisdiction of any New York State court sitting in the Borough of Manhattan in the City of New York or any federal court sitting in the Southern District in the Borough of Manhattan in the City of New York in
respect of any suit, action or proceeding arising out of or relating to this Indenture and the Notes, and irrevocably accepts for itself and in respect of its property, generally and unconditionally, jurisdiction of the aforesaid courts. EACH OF
THE COMPANY, THE HOLDERS AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES OR THE
TRANSACTION CONTEMPLATED HEREBY. 

  
 11 

 Section 5.05    Successors. 

All agreements of the Company in the Base Indenture, this Seventh Supplemental Indenture and the Notes shall bind its successors. All
agreements of the Trustee in the Base Indenture and this Seventh Supplemental Indenture shall bind its successors. 

Section 5.06    Counterparts. 

This instrument may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such
counterparts shall together constitute but one and the same instrument. 
 Section 5.07    Trustee
Disclaimer. 
 The Trustee makes no representation as to the validity or sufficiency of this Seventh Supplemental Indenture and the Notes
other than as to the validity of its execution and delivery by the Trustee. The recitals and statements herein and in the Notes are deemed to be those of the Company and not the Trustee and the Trustee assumes no responsibility for the same. The
Trustee or any Authenticating Agent shall not be accountable for the use or application by the Company of Notes or the proceeds thereof. 

Section 5.08    Authentication. 

The Trustee may authenticate the Notes by manual or electronic signature. 

Section 5.09    Electronic Means Communications. 

The Trustee shall have the right to accept and act upon instructions, including funds transfer instructions (“Instructions”)
given pursuant to this Indenture and delivered using Electronic Means; provided, however, that the Company shall provide to the Trustee an incumbency certificate listing officers with the authority to provide such Instructions (“Authorized
Officers”) and containing specimen signatures of such Authorized Officers, which incumbency certificate shall be amended by the Company whenever a person is to be added or deleted from the listing. If the Company elects to give the Trustee
Instructions using Electronic Means and the Trustee in its reasonable discretion elects to act upon such Instructions, the Trustee’s understanding of such Instructions shall be deemed controlling in the absence of negligence or bad faith. The
Company understands and agrees that the Trustee cannot determine the identity of the actual sender of such Instructions and that the Trustee shall conclusively presume that directions that purport to have been sent by an Authorized Officer listed on
the incumbency certificate provided to the Trustee have been sent by such Authorized Officer. The Company shall be responsible for ensuring that only Authorized Officers transmit such Instructions to the Trustee and that the Company and all
Authorized Officers are solely responsible to safeguard the use and confidentiality of applicable user and authorization codes, passwords and/or authentication keys upon receipt by the Company. In the absence of negligence or bad faith, the Trustee
shall not be liable for any losses, costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such Instructions notwithstanding such directions conflict or are inconsistent with a subsequent written
instruction. The Company agrees: (i) to assume all risks arising out of the use of Electronic Means to submit Instructions to the Trustee, including without limitation the risk of the Trustee acting on unauthorized Instructions, and the risk of
interception and misuse by third parties; (ii) that it is fully informed of the protections and risks associated with the various methods of transmitting Instructions to the Trustee and that there may be more secure methods of transmitting
Instructions than the method(s) selected by the Company; (iii) that the security procedures (if any) to be followed in connection with its transmission of Instructions provide to it a commercially reasonable degree of protection in light of its
particular needs and circumstances; and (iv) to notify the Trustee immediately upon learning of any compromise or unauthorized use of the security procedures. “Electronic Means” means the following communications methods: e-mail, facsimile transmission, secure electronic transmission containing applicable authorization codes, passwords and/or authentication keys issued by the Trustee, or another method or system specified by the
Trustee as available for use in connection with its services hereunder. 
 [Remainder of page intentionally left blank] 

  
 12 

 IN WITNESS WHEREOF, the parties to this Seventh Supplemental Indenture have caused it to be
duly executed as of the day and year first above written. 
  

			
	VMWARE, INC.
		
	By:	 	 /s/ Zane Rowe

	Name:	 	Zane Rowe
	Title:	 	Executive Vice President and Chief Financial Officer
	
	The Bank of New York Mellon Trust Company, N.A., as Trustee
		
	By:	 	 /s/ Julie Hoffman-Ramos

	Name:	 	Julie Hoffman-Ramos
	Title:	 	Vice President

 [Signature Page to Seventh Supplemental Indenture] 

 EXHIBIT A 
  

			
	No.                        	 	CUSIP No./ISIN: 928563AG0/US928563AG03

 0.600% Senior Notes Due 2023 

VMware, Inc. 
 a Delaware
corporation 
 promises to pay
to                                        
                                         
                                         
       or registered assigns the principal 
 sum
of                                        
                                         
                                         
       Dollars on August 15, 2023. 
 Interest Payment Dates: February 15 and August 15

 Record Dates: February 1 and August 1 

Authenticated: August 2, 2021 
 Dated: August 2, 2021

  

			
	VMware, Inc.

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

 The Bank of New York Mellon Trust Company, N.A., 

as Trustee, certifies that this is one of the Securities 

referred to in the within mentioned Indenture. 
  

			
	By:	 	  

			
	Authorized Signatory

  
 A-1 

 VMware, Inc. 

0.600% Senior Notes Due 2023 

VMware, Inc., a Delaware corporation (together with its successors and assigns, the “Company”), issued this Security under an
Indenture dated as of August 21, 2017 (as amended, modified or supplemented from time to time in accordance therewith, the “Base Indenture”), as supplemented by the Seventh Supplemental Indenture dated as of August 2, 2021
(the “Supplemental Indenture” and together with the Base Indenture, the “Indenture”), by and among the Company and The Bank of New York Mellon Trust Company, N.A., as trustee (in such capacity, the
“Trustee”), to which reference is hereby made for a statement of the respective rights, obligations, duties and immunities thereunder of the Company, the Trustee and the Holders and of the terms upon which the Securities are, and
are to be, authorized and delivered. All terms used in this Security that are defined in the Indenture shall have the meanings assigned to them therein. 

1.    Interest. The Company promises to pay interest on the principal amount of this Security
at the rate per annum shown above. The Company will pay interest semiannually on February 15 and August 15 of each year, commencing February 15, 2022, until the principal is paid or made available for payment. Interest on the
Securities will accrue from the most recent date to which interest has been paid or duly provided for or, if no interest has been paid, from August 2, 2021, provided that, if there is no existing default in the payment of interest, and
if this Security is authenticated between a record date referred to on the face hereof and the next succeeding interest payment date, interest shall accrue from such interest payment date. Interest will be computed on the basis of a 360-day year of twelve 30-day months. 

2.    Method of Payment. The Company will pay interest on the Securities (except defaulted
interest, if any, which will be paid on such special payment date to Holders of record on such special record date as may be fixed by the Company) to the persons who are registered Holders of Securities at the close of business on the
February 1 and August 1 immediately preceding the Interest Payment Date. Holders must surrender Securities to a Paying Agent to collect principal payments. The Company will pay principal and interest in U.S. Dollars that at the time of
payment is legal tender for payment of public and private debts. 
 3.    Paying Agent and
Registrar. Initially, the Trustee will act as Paying Agent and Registrar. The Company may change or appoint any Paying Agent, Registrar or co-Registrar without notice. The Company or any of its
Subsidiaries or any of their Affiliates may act as Paying Agent, Registrar or co-Registrar. 

4.    Optional Redemption. The Company may redeem the Securities at any time in whole or in
part, at its option, prior to the maturity thereof, at a redemption price as calculated by the Company equal to the greater of: 
  

	 	•	 	 100% of the principal amount of the Securities to be redeemed; and 

 

	 	•	 	 the sum of the present values of the remaining scheduled payments of principal and interest thereon (exclusive of
interest accrued to the date of redemption), discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at
the then current Treasury Rate plus 10 basis points, 

 plus, in each case, accrued and unpaid interest, if any, on the amount being
redeemed to, but excluding the date of redemption. 
 Notice of redemption will be sent at least 10 but not more than 60 days before the
redemption date to each holder of record of the Securities to be redeemed at its registered address. The notice of redemption for the Securities will state, among other things, the series and amount of Securities to be redeemed, the redemption date,
the redemption price and the place or places that payment will be made upon presentation and surrender of Securities to be redeemed. Unless the Company defaults in the payment of the redemption price, interest will cease to accrue on any Securities
that have been called for redemption at the redemption date. If fewer than all of the Securities are to be redeemed at any time, not more than 45 days prior to the redemption date, the particular Securities or portions thereof for redemption from
the outstanding Securities not previously called shall be selected in accordance with the procedures of DTC. The Trustee shall have no obligation to calculate any redemption price or premium. 

  
 A-2 

 5.    Mandatory Redemption. Other than as set forth in this
Section 5, the Notes are not subject to any sinking fund payment. In the event that the closing of the Spin-Off has not occurred on or prior to the earlier of (i) (x) April 28, 2022 or
(y) if the Separation and Distribution Agreement is amended on or prior to April 28, 2022 to extend the date by which the Spin-Off must be consummated to a date later than April 28, 2022, the
earlier of such extended date and July 28, 2022, and (ii) the date the Separation and Distribution Agreement is terminated (such earlier date, the “Special Mandatory Redemption Trigger Date”), the Company will be required
to redeem the Notes in whole at a redemption price (the “Special Mandatory Redemption Price”) equal to 101% of the aggregate principal amount of the Notes, together with accrued and unpaid interest on the principal amount of the
Notes to, but not including, the Special Mandatory Redemption Date (as defined below) (the “Special Mandatory Redemption”). 

Upon the occurrence of the Special Mandatory Redemption Trigger Date, the Company will promptly (but in no event later than 5 business days
following the Special Mandatory Redemption Trigger Date) cause notice to be delivered electronically or mailed, with a copy to the Trustee, to each Holder of the Notes at its registered address (such date of notification to the Holders, the
“Redemption Notice Date”). The notice will inform Holders that the Notes will be redeemed on the 20th day (or if such day is not a Business Day, the first Business Day thereafter) following the Redemption Notice Date (such date, the
“Special Mandatory Redemption Date”) and that all of the outstanding Notes will be redeemed at the Special Mandatory Redemption Price on the Special Mandatory Redemption Date automatically and without any further action by the
Holders of the Notes. 
 At or prior to 12:00 p.m., New York City time, on the Business Day immediately preceding the Special Mandatory
Redemption Date, the Company will deposit with the Trustee funds sufficient to pay the Special Mandatory Redemption Price for the Notes. If such deposit is made as provided above, the Notes will cease to bear interest on and after the Special
Mandatory Redemption Date. The Trustee shall not be charged with knowledge of, or responsible for monitoring, whether a Special Mandatory Redemption Trigger Date has occurred. 

Upon the consummation of the Spin-Off prior to the occurrence of the Special Mandatory Redemption
Trigger Date, this Section 5 will cease to apply. 
 6.    Denominations, Transfer,
Exchange. The Securities are in registered form only without coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof. A Holder may transfer or exchange Securities by presentation of such Securities to the
Registrar or a co-Registrar with a request to register the transfer or to exchange them for an equal principal amount of Securities of other denominations. The Registrar may require a Holder, among other
things, to furnish appropriate endorsements and transfer documents and to pay any taxes and fees required by law or permitted by the Indenture. The Registrar need not transfer or exchange any Security selected for redemption or purchase, except the
unredeemed or unpurchased part thereof if the Security is redeemed or purchased in part, or transfer or exchange any Securities for a period of 15 days before a selection of Securities to be redeemed or purchased. 

7.    Persons Deemed Owners. The registered Holder of this Security shall be treated as the
owner of it for all purposes. 
 8.    Unclaimed Money. Subject to any applicable abandoned
property law, the Trustee and the Paying Agent shall pay to the Company upon written request any money held by them for the payment of principal or interest that remains unclaimed for two years, and thereafter, Holders entitled to the money must
look to the Company for payment as general creditors. 
 9.    Amendment, Supplement, Waiver.
Subject to certain exceptions, the Indenture or the Securities may be amended or supplemented with the consent of the Holders of at least a majority in principal amount of the outstanding Securities of each Series affected by the amendment and
any past default or compliance with any provision relating to any Series of the Securities may be waived in a particular instance with the consent of the Holders of a majority in principal amount of the outstanding Securities of such Series. Without
the consent of any Securityholder, the Company and the Trustee may amend or supplement the Indenture or the Securities in certain respects as specified in the Indenture. 

  
 A-3 

 10.    Successor Corporation. When a
successor corporation assumes all the obligations of its predecessor under the Securities and the Indenture, the predecessor corporation will be released from those obligations. 

11.    Trustee Dealings With Company. Subject to certain limitations imposed by the TIA, the
Trustee under the Indenture, in its individual or any other capacity, may make loans to, accept deposits from, and perform services for the Company or its affiliates, and may otherwise deal with the Company or its affiliates, as if it were not
Trustee, including owning or pledging the Securities. 
 12.    No Recourse Against Others.
A director, officer, employee or stockholder, as such, of the Company shall not have any liability for any obligations of the Company under the Securities or the Indenture or for any claim based on, in respect of or by reason of, such
obligations or their creation. Each Holder by accepting a Security waives and releases all such liability. The waiver and release are part of the consideration for the issue of the Securities. The waiver may not be effective to waive liabilities
under the federal securities laws. 
 13.    Discharge of Indenture. The Indenture contains
certain provisions pertaining to defeasance and discharge, which provisions shall for all purposes have the same effect as if set forth herein. 

14.    Authentication. This Security shall not be valid until an authorized signatory of the
Trustee signs the certificate of authentication on the other side of this Security. 

15.    Abbreviations. Customary abbreviations may be used in the name of a Holder or an
assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorship and not as tenants in common), CUST (= custodian), and U/G/M/A (= Uniform Gift to Minors Act). 

16.    GOVERNING LAW. THIS SECURITY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH,
THE LAWS OF THE STATE OF NEW YORK. 
 17.    CUSIP and ISIN Numbers. Pursuant to a
recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company has caused CUSIP and ISIN numbers to be printed on the Securities and has directed the Trustee to use CUSIP and ISIN numbers in notices of
repurchase as a convenience to Holders. No representation is made as to the accuracy of such numbers either as printed on the Securities or as contained in any notice of repurchase and reliance may be placed only on the other identification numbers
placed thereon. 
 18.    Copies. The Company will furnish to any Holder upon written
request and without charge a copy of the Indenture and the applicable Authorizing Resolution or supplemental indenture. Requests may be made to: VMware, Inc., 3401 Hillview Avenue, Palo Alto, California 94304, Attention: Chief Financial Officer.

  
 A-4 

 ASSIGNMENT FORM 

If you the Holder want to assign this Security, fill in the form below: 

I or we assign and transfer this Security to
                                         
                                        (insert
assignee’s social security or tax ID number) 
  

	
	                                   
                                         
            
	
	                                   
                                         
            
	
	                                   
                                         
            
	
	                                   
                                         
            
	(Print or type assignee’s name, address, and zip code)

 and irrevocably appoint
                                         
                                         
                                         
                                         
         agent to transfer this Security on the books of the Company. The agent may substitute another to act for him. 
  

									
	Date:	 	  
	 		 		 	  

		 		 		 		 	Your signature
		 		 		 		 	(Sign exactly as your name appears on the other side of this Security)
	Signature Guarantee:	 		 		 	
	  
	 		 	

  
 A-5

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