Amendment of Stock Option - Christopher Bolin
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EX-10.3 4 d56496exv10w3.htm AMENDMENT OF STOCK OPTION - CHRISTOPHER BOLIN exv10w3
Exhibit 10.3
McAFEE, INC.
Amendment of Stock Options
By electing to amend your discount options, the outstanding Stock Option Agreements (the "Agreements) related to grants number 23552, 31936, and 32115 under the McAfee, Inc. (the "Company) 1997 Stock Incentive Plan and the Networks Associates, Inc. 2000 Nonstatutory Stock Option Plan (together, the Plans) by and between the Company and Christopher Bolin (Optionee) are hereby amended as follows:
Unless otherwise defined herein, initially capitalized terms shall have the same meanings as defined in the Plan.
1. Effective Date. This Amendment of Stock Options and Election to Amend Stock Options (Amendment) is effective as of the last date on which this Agreement is executed (the Effective Date).
2. Amendments to Exercise Price Per Share.
(a) | The exercise price of the options which vest January 1, 2005 or later, to purchase 2,083 shares of Company common stock under grant number 23552 are hereby increased to $6.03 per share; | ||
(b) | The exercise price of the options which vest January 1, 2005 or later, to purchase 30,000 shares of Company common stock under grant number 31936 are hereby increased to $18.90 per share; and | ||
(c) | The exercise price of the options which vest January 1, 2005 or later, to purchase 75,000 shares of Company common stock under grant number 32115 are hereby increased to $16.75 per share. |
3. Option Agreements. To the extent not expressly amended hereby, the Agreements remain in full force and effect.
4. Payment. In order to compensate you for 100% of the value lost by increasing your option exercise prices, the Company agrees to pay you $135,532.72 on the first payroll date in January 2009, irrespective of whether or not you are an employee of the Company on such date.
5. Entire Agreement. This Amendment, taken together with the Agreements (to the extent not expressly amended hereby), and any duly authorized written or electronic agreement entered into by and between the Company and Optionee relating to the stock option grants evidenced by the Agreements, represent the entire agreement of the parties, supersede any and all previous contracts, arrangements or understandings between the parties with respect to the stock option grants evidenced by the Agreements, and may be amended at any time only by mutual written agreement of the parties hereto.
This Amendment must be properly completed and signed by you and delivered to Jared Ross at McAfee, Inc., 5000 Headquarters Dr., Plano, Texas, 75024, U.S.A.
IN WITNESS WHEREOF, this instrument is effective as of the Effective Date.
McAFEE, INC. | OPTIONEE | |||
/s/ Eric Brown | /s/ Christopher Bolin | |||
2/11/08 | 2/11/08 | |||
Eric Brown | Christopher Bolin | |||
CFO & COO | EVP & CTO | |||
[Omitted] |
-2-
Equity Summary
Section 16
Chris Bolin
FMV on | ||||||||||||||||||||||||||||||||||||||||||||||||
Revised | Revised | Outstanding | Outstanding | Number of | ||||||||||||||||||||||||||||||||||||||||||||
Original | Exercise | Discounted | Measurement | Measurement | Shares | Shares Subject | Shares Not | Shares Eligible | Potential Cash | |||||||||||||||||||||||||||||||||||||||
Grant Number | Grant Type | Grant Date | Price | Grant | Date | Date | Original Grant | Outstanding * | to 409A * | Subject to 409A * | for Repricing | Payment | ||||||||||||||||||||||||||||||||||||
35505 | RSU | 3/7/2006 | $ | 0.00 | N/A | 50,000 | 50,000 | 0 | 50,000 | |||||||||||||||||||||||||||||||||||||||
35418 | RSA | 8/23/2005 | $ | 0.01 | N/A | 50,000 | 16,666 | 0 | 16,666 | |||||||||||||||||||||||||||||||||||||||
33886 | NQO | 4/19/2005 | $ | 21.61 | No | 80,000 | 80,000 | 0 | 80,000 | |||||||||||||||||||||||||||||||||||||||
32115 | NQO | 5/4/2004 | $ | 16.57 | Yes | 7/21/2004 | $ | 16.75 | 75,000 | 75,000 | 75,000 | 0 | 75,000 | $ | 13,500.00 | |||||||||||||||||||||||||||||||||
31936 | NQO | 1/2/2004 | $ | 14.96 | Yes | 4/13/2004 | $ | 18.90 | 30,000 | 30,000 | 30,000 | 0 | 30,000 | $ | 118,200.00 | |||||||||||||||||||||||||||||||||
29068 | NQO | 1/2/2003 | $ | 16.90 | No | 4/8/2003 | $ | 13.75 | 35,000 | 35,000 | 0 | 35,000 | ||||||||||||||||||||||||||||||||||||
26488 | NQO | 1/16/2002 | $ | 25.43 | No | 4/9/2002 | $ | 22.50 | 40,000 | 40,000 | 0 | 40,000 | ||||||||||||||||||||||||||||||||||||
23552 | NQO | 1/2/2001 | $ | 4.19 | Yes | 2/12/2001 | $ | 6.03 | 100,000 | 72,500 | 2,083 | 70,417 | 2,083 | $ | 3,832.72 | |||||||||||||||||||||||||||||||||
20390 | NQO | 7/3/2000 | $ | 21.13 | No | 20,000 | 20,000 | 0 | 20,000 | |||||||||||||||||||||||||||||||||||||||
18779 | NQO | 1/4/2000 | $ | 24.56 | Yes | 5/9/2000 | $ | 25.00 | 4,500 | 4,500 | 0 | 4,500 | ||||||||||||||||||||||||||||||||||||
15184 | NQO | 10/18/1999 | $ | 16.94 | Yes | 1/24/2000 | $ | 28.50 | 10,000 | 10,000 | 0 | 10,000 | ||||||||||||||||||||||||||||||||||||
13753 | NQO | 4/22/1999 | $ | 11.06 | No | 10,000 | 10,000 | 0 | 10,000 | |||||||||||||||||||||||||||||||||||||||
9893 | NQO | 4/20/1999 | $ | 11.06 | No | 5,000 | 5,000 | 0 | 5,000 | |||||||||||||||||||||||||||||||||||||||
NQO TOTAL: | 382,000 | 107,083 | 274,917 | 107,083 | $ | 135,532.72 | ||||||||||||||||||||||||||||||||||||||||||
* | Data presented as of January 28, 2008 |