EXECUTIVE EMPLOYMENT AGREEMENT

Exhibit 10.4

E XECUTIVE E MPLOYMENT A GREEMENT

This Executive Employment Agreement (the “Agreement”), dated June 4, 2009 (the “Agreement Date”), is entered into by and among Wind River Systems, Inc., a Delaware corporation (the “Company”), Intel Corporation, a Delaware corporation (“Parent”), and Ian Halifax (“Executive”) (collectively, the “parties”).

RECITALS

WHEREAS, pursuant to the Agreement and Plan of Merger (the “Merger Agreement”), dated June 4, 2009 among Parent, APC II Acquisition Corporation, a Delaware corporation and a wholly owned subsidiary of Parent (“Merger Sub”) , and the Company, Merger Sub shall be merged with and into the Company, and the Company shall continue as the surviving corporation and a wholly owned subsidiary of Parent (the “Transaction”);

WHEREAS, the parties wish to provide for Executive’s employment with Company following the Transaction;

WHEREAS, as a condition and material inducement for Parent to enter into the Merger Agreement and consummate the Transaction, Executive is entering into this Agreement concurrently with the execution of the Merger Agreement;

WHEREAS, subject to Executive’s prior completion of a background check to Parent’s satisfaction, this Agreement shall become effective upon the Acceptance Date , as defined in the Merger Agreement (the “Effective Date”); and

WHEREAS, the Company and Executive have entered into that certain Offer Letter, originally dated January 30, 2007, as amended through October 16, 2008 (the “Prior Employment Agreement”), which, effective as of the Effective Date, shall be terminated and replaced in its entirety by this Agreement. This Agreement shall govern the employment relationship between Executive and the Company from and after the Effective Date and supersedes and negates all previous agreements with respect to such relationship, including, without limitation, the Prior Employment Agreement.

NOW, THEREFORE, in consideration of the covenants, promises and representations set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

A. Position . As of the Effective Date, Executive shall be employed by the Company for the Period of Employment (as defined in Section I.D) to render services to the Company in the position of Transition Executive of the Company (which is a subsidiary of Parent). During the Period of Employment, Executive shall perform such duties and responsibilities of the subsidiary operations as are normally related to such position in accordance with the standards of the industry and any additional duties commensurate with such position now or hereafter assigned to Executive by the President of the Company, the Company or Parent. Executive shall

abide by the verbal or written directions of his direct manager, as well as the General Manager of the Software Group and the Software Group Controller, and written rules, regulations, and practices as adopted or modified from time to time in the Company’s sole discretion that have been made available to Executive.

B. Other Activities . Except upon the prior written consent of the Company, Executive will not, during the term of this Agreement, (i) accept any other employment, or (ii) engage, directly or indirectly, in any other business activity (whether or not pursued for pecuniary advantage) that might interfere with Executive’s duties and responsibilities hereunder or create a conflict of interest with the Company. Executive’s service on the boards of directors (or similar body) of other business entities is subject to the approval of the Parent. The Company shall have the right to require Executive to resign from any board or similar body which he may then serve if the Company or Parent reasonably determines in writing that Executive’s service on such board or body interferes with the effective discharge of Executive’s duties and responsibilities to the Company or that any business related to such service is then in competition with any business of the Company or any of its affiliates, successors or assigns.

C. No Conflict . Executive represents and warrants that Executive’s execution of this Agreement, employment with the Company, and the performance of Executive’s proposed duties under this Agreement shall not violate any obligations Executive may have to any other employer, person or entity, including any obligations with respect to proprietary or confidential information of any other person or entity.

D. Period of Employment . Provided this Agreement becomes effective, the “Period of Employment” shall be a period of one (1) year commencing on the Effective Date and ending at the close of business on the first (1st) anniversary of the Effective Date. Notwithstanding the foregoing, the Period of Employment is subject to earlier termination as provided below in this Agreement.

A. Base Salary . In consideration of the services to be rendered under this Agreement, during the Period of Employment, the Company shall pay Executive a salary at the rate of four hundred thousand Dollars ($400,000) per year (“Base Salary”). The Base Salary shall be paid in accordance with the Company’s regularly established payroll practice. During the Period of Employment, Executive’s Base Salary will be reviewed from time to time in accordance with the established procedures of the Company or Parent for increasing salaries for similarly situated employees and may be increased, but not decreased in the sole discretion of Parent.

B. Bonus . During the Period of Employment, Executive shall be eligible to receive an annual incentive bonus (the “Bonus”). The annual target amount of the Bonus shall be $200,000, payable in two (2) installments. The amount of each installment of the Bonus paid shall be determined by Executive’s supervisors in their sole discretion, based on performance objectives established for the Company for the relevant period. The Bonus installments will be paid no later than two and one-half (2-/12) months following the six- (6-) month anniversary, and the one- (1) year anniversary of the Effective Date, respectively.

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C. Benefits . During the Period of Employment, Executive shall be eligible to participate in the benefits made generally available by the Company to similarly-situated executives, in accordance with the benefit plans established by the Company, and as may be amended from time to time in Parent’s sole discretion.

D. Expenses . The Company shall reimburse Executive for reasonable business expenses incurred in the performance of Executive’s duties hereunder in accordance with the Company’s expense reimbursement guidelines.

E. Prior Plans . Prior to the Effective Date, Executive was a participant in the Company’s Executive Officers’ Change of Control Incentive and Severance Benefit Plan (the “CIC Plan”) and the Company’s Vice Presidents’ Severance Benefit Plan (the “Severance Plan”). Effective as of immediately prior to the Effective Date, Executive shall no longer be eligible to participate in the CIC Plan or the Severance Plan.

F. Equity Awards .

1. If Executive holds any outstanding Equity Awards at the Effective Date, the vesting schedule for such outstanding Equity Awards, to the extent not already vested, shall be accelerated by a period of one (1) year and shall thereafter continue vesting at the same rate as immediately prior to the Effective Date, subject to Executive’s continuous service with the Company.

2. As used herein, “ Equity Awards ” shall mean all incentive or non-statutory stock options, restricted stock, restricted stock units, stock appreciation rights, performance shares, performance units, deferred stock units, or other equity or equity award granted to Executive by the Company and which were outstanding on the Effective Date, including any non-plan grants.

A. Retention Payments.

1. In the event Executive’s employment with the Company has not terminated on or prior to the six- (6-) month anniversary of the Effective Date (the “First Retention Date”), Executive shall receive the following benefits:

a. A cash payment equal to the sum of (i) twelve (12) months’ Base Salary as in effect on First Retention Date, and (ii) an amount equal to one hundred percent (100%) of Executive’s actual Bonus for the fiscal year prior to the fiscal year in which the termination occurs; and

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b. Any Equity Awards outstanding on the First Retention Date shall become fully vested and exercisable as of the First Retention Date.

2. Upon the earlier of (i) the one- (1-) year anniversary of the Effective Date, provided that Executive’s employment with the Company has not terminated on or prior to such date, or (ii) the successful completion, following the Effective Date, of an appropriate transition period of the Company in connection with the Transaction, as determined by the Company or Parent (such date, the “Second Retention Date”), the Company shall pay Executive the following:

a. A cash payment equal to the amount of Base Salary earned by Executive from the Effective Date through the Second Retention Date (disregarding any amounts earned pursuant to Section III.A.1); and

b. A bonus payment in the amount of $200,000 (the “Second Retention Date Bonus”). In the event the Second Retention Date occurs prior to the one- (1-) year anniversary of the Effective Date, the amount of such bonus payment shall be pro-rated by multiplying the resulting amount by a fraction, the numerator of which is the number of full months of Executive’s employment with the Company following the First Retention Date, and the denominator of which is six (6).

3. Payment of the retention benefits provided in this Section III.A shall be made in a lump sum, subject to tax withholding and other authorized deductions, upon a regularly scheduled Company payroll date, as soon as practicable following the First Retention Date (in the case of benefits under Section III.A.1) or Second Retention Date (in the case of benefits under Section III.A.2), but in any event shall be made no later than two and one-half (2.5) months following the end of the calendar year in which falls the First Retention Date or the Second Retention Date, as applicable.

B. At-Will Termination by Company . Executive’s employment with the Company shall be “at-will” at all times. The Company may terminate Executive’s employment with the Company at any time, without any advance notice, for any reason or no reason at all, notwithstanding anything to the contrary contained in or arising from any statements, policies or practices of the Company relating to the employment, discipline or termination of its employees. Upon and after such termination, all obligations of the Company under this Agreement shall cease, except as otherwise provided herein.

C. Termination by the Company or by Death . Executive’s employment by the Company, and the Period of Employment, may be terminated at any time by the Company: (i) with Cause (as defined in Section III.G), (ii) without Cause, or (iii) in the event that the Company determines in good faith that Executive has a Disability (as defined in Section III.G). Executive’s employment, and the Period of Employment, shall terminate automatically upon Executive’s death.

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D. Termination by Executive . Executive’s employment by the Company, and the Period of Employment, may be terminated by Executive with no less than thirty (30) days advance notice to the Company.

E. Benefits upon Termination . If Executive’s employment by the Company is terminated during the Period of Employment for any reason by the Company or by Executive, or upon or following the expiration of the Period of Employment (the date that Executive’s employment by the Company terminates is referred to as the “Severance Date”), the Company shall have no further obligation to make or provide to Executive, and Executive shall have no further right to receive or obtain from the Company, any payments or benefits except as follows:

1. The Company shall pay Executive (or, in the event of his death, Executive’s estate) any Accrued Obligations (as defined in Section III.G);

2. If, prior to the six- (6-) month anniversary of the Effective Date, Executive’s employment with the Company, and the Period of Employment, terminates as a result of an Involuntary Termination or is terminated voluntarily by the Executive for Good Reason (both as defined herein), Executive shall be entitled to (a) those benefits set forth in Section III.A.1, and (b) the total Bonus for the year in which the termination occurs, in such amount as determined based on the actual achievement of the applicable performance goals for the period relevant to each Bonus installment, and further pro-rated by multiplying such amount by a fraction, the numerator of which is the number of full months of Executive’s employment with the Company, and the denominator of which is 12. In addition, in that event, if Executive timely elects continuation of group health insurance coverage made available to Executive to the extent required under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) or similar state law, the Company will reimburse Executive for the total applicable premium cost paid for medical, dental and vision coverage under COBRA for a period of eighteen (18) months following the Severance Date. Such reimbursement shall be made within thirty (30) days of the premium payment.

3. If, after the First Retention Date, but prior to the Second Retention Date, Executive’s employment with the Company, and the Period of Employment, terminates as a result of an Involuntary Termination or is terminated voluntarily by the Executive for Good Reason, Executive shall be entitled to:

a. A cash payment equal to the amount of Base Salary earned by Executive from the Effective Date through the Severance Date (disregarding any amounts earned pursuant to Sections III.A.1 or III.E.2);

b. The Bonus for the year in which the termination occurs, in such amount as determined based on the actual achievement of the applicable performance goals for the relevant period, minus any amount of the Bonus already received, and further pro-rated by multiplying such amount by a fraction, the numerator of which is the number of full months of Executive’s employment with the Company, and the denominator of which is six (6); and

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c. The Second Retention Date Bonus, pro-rated by multiplying such amount by a fraction, the numerator of which is the number of full months of Executive’s employment with the Company following the First Retention Date, and the denominator of which is six (6).

Notwithstanding the foregoing provisions of this Section III.E, if Executive breaches any obligations pursuant to Section V at any time, and any such breach that is susceptible to cure remains uncured by Executive five (5) days after receiving written notice from the Company of such breach and specifying the purported grounds for such breach, from and after the date of the lapse of such cure period, or from the date of the breach with respect to an incurable breach, Executive will no longer be entitled to, and the Company will no longer be obligated to pay, any remaining unpaid severance benefits otherwise payable pursuant to this Section III.E (other than the Accrued Obligations).

F. Release; Payment of Severance; Exclusive Remedy.

1. This Section III.F shall apply notwithstanding anything else contained in this Agreement or any stock option or other equity-based award agreement to the contrary. As a condition precedent to any Company obligation to Executive pursuant to Section III.E (other than an obligation to pay the Accrued Obligations), Executive shall, upon or promptly following his last day of employment with the Company, provide the Company with a valid, executed general release agreement (the “Release”) (a form of which is attached hereto as Exhibit B), and the Release shall have not been revoked by Executive pursuant to any revocation rights afforded by applicable law.

2. Subject to the prior effectiveness of the Release and the nonexistence of any cure period under Section III.E following a breach of Section V, payment of the severance benefits provided in Sections III.E.2 and III.E.3 shall be made in a lump sum upon a regularly scheduled Company payroll date, as soon as practicable following and in no event later than sixty (60) days following the Severance Date, subject to any delay required to avoid additional taxes under Section 409A, except with respect to any pro-rated Bonus provided under Section III.E.2 or III.E.3(b), which amounts shall be payable as soon as practicable following the determination of the degree to which the applicable performance targets were achieved, but in any event shall be made no later than two and one-half (2.5) months following the six- (6) month anniversary of the Effective Date (in the case of the first installment of the Bonus) or the one- (1) year anniversary of the Effective Date (in the case of the second installment of the Bonus), subject to any delay required to avoid additional taxes under Section 409A.

3. Executive agrees that the payments and benefits contemplated by Section III.E (including the Accrued Obligations) shall constitute the exclusive and sole remedy for any termination of his employment and Executive covenants not to assert or pursue any other remedies, at law or in equity, with respect to any termination of employment.

G. Certain Defined Terms.

1. As used herein, “Accrued Obligations” means:

a. any Base Salary that had accrued but had not been paid (including accrued and unpaid vacation time) on or before the Severance Date; and

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b. any reimbursement due to Executive pursuant to Section II.D for expenses incurred by Executive on or before the Severance Date.

2. As used herein, “Cause” shall mean, as reasonably determined by the Company or Parent, (i) Executive’s willful, repeated or grossly negligent failure to perform his duties hereunder or to comply with any reasonable or proper direction given by or on behalf of Executive’s direct supervisor(s), including the board of directors or chief executive officer of Parent or the Managing Director of the Company, or Executive’s gross negligence in the performance of his duties hereunder, which failure remains uncured for greater than thirty (30) days after Executive’s receipt of formal written notice of such failure; (ii) Executive’s conviction of, or plea of guilty or no contest to, a felony or other crime involving moral turpitude, or any act of fraud, theft or dishonesty against the Company or Parent; or (iii) Executive’s violation of any of the material terms, covenants, representations or warranties contained in this Agreement, which violation remains uncured for greater than thirty (30) days after Executive’s receipt of formal written notice of such violation.

3. As used herein, “Disability” shall mean a physical or mental impairment which, as reasonably determined by the Company, renders Executive unable to perform the essential functions of his employment with the Company, even with reasonable accommodation that does not impose an undue hardship on the Company, for more than ninety (90) consecutive days or more than one hundred eighty (180) days in any twelve- (12-) month period, unless a longer period is required by federal or state law, in which case that longer period would apply.

4. As used herein, “Involuntary Termination” shall mean a termination of Executive by the Company without Cause. For purposes of clarity, the term Involuntary Termination does not include a termination of Executive’s employment due to Executive’s death or Disability.

5. As used herein, “Good Reason” shall mean the occurrence of any of the following events or circumstances without Executive’s consent: (i) reporting to someone other than the President of the Company, the General Manager of the Parent Software Group or the Controller of the Parent Software Group, (ii) a material breach by the Company or Parent of the terms of this Agreement; or (iii) the relocation of Executive’s worksite to a place outside of a 35-mile radius from his prior worksite. In order to establish a “Good Reason” for terminating employment, Executive must provide written notice to the Company and Parent of the existence of the condition giving rise to the Good Reason, which notice must be provided within thirty (30) days of the initial existence of such condition, the Company or Parent must fail to cure the condition within thirty (30) days thereafter, and Executive’s termination of employment must occur no later than ninety (90) days following the initial existence of the condition giving rise to Good Reason.

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A. Return of Property . Executive agrees that all property (including without limitation all equipment, tangible proprietary information, documents, records, notes, contracts and computer-generated materials) furnished to or created or prepared by Executive incident to Executive’s employment belongs to the Company and shall be promptly returned to the Company upon termination of Executive’s employment.

B. Resignation and Cooperation . Upon termination of Executive’s employment, Executive shall be deemed to have resigned from all offices and directorships then held with the Company. Following any termination of employment, Executive shall cooperate with the Company in the winding up of pending work on behalf of the Company and the orderly transfer of work to other employees. Executive shall also cooperate with the Company in the defense of any action brought by any third party against the Company that relates to Executive’s employment by the Company.

A. Employee Confidentiality, Intellectual Property and Computer Privacy Agreement . Executive agrees to sign and be bound by the terms of the Parent’s Employee Confidentiality, Intellectual Property and Computer Privacy Agreement that is attached as Exhibit A (“CIPCP Agreement”).

B. Non-Solicitation . Executive acknowledges that because of Executive’s position in the Company, Executive will have access to material intellectual property and confidential information. During the term of Executive’s employment and for one year thereafter, in addition to Executive’s other obligations hereunder or under the CIPCP Agreement, Executive shall not, for Executive or any third party, directly or indirectly (i) solicit, induce, recruit or encourage any person employed by the Company or Parent to terminate his or her employment; provided , however , that this provision shall not apply to Executive’s assistant Sylvia Shapiro, or (ii) divert or attempt to divert from the Company or Parent any business with any customer, client, member, business partner or supplier about which Executive obtained confidential information during his employment with the Company, by using the Company’s or Parent’s trade secrets or by otherwise engaging in conduct that amounts to unfair competition. Nothing in this Section V.B shall alter or diminish Executive’s obligations pursuant to the CIPCP Agreement or any other restrictive covenants between or among Executive and the Company and/or Parent.

This Agreement may not be amended or waived except by a writing signed by Executive and by a duly authorized representative of the Company other than Executive. Failure to exercise any right under this Agreement shall not constitute a waiver of such right. Any waiver of any breach of this Agreement shall not operate as a waiver of any subsequent breaches. All rights or remedies specified for a party herein shall be cumulative and in addition to all other rights and remedies of the party hereunder or under applicable law.

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A. Assignment . The performance of Executive is personal hereunder, and Executive agrees that Executive shall have no right to assign and shall not assign or purport to a