EX-10.1



 Exhibit 10.1 

CHANGE IN CONTROL SEVERANCE AGREEMENT 

THIS CHANGE IN CONTROL SEVERANCE AGREEMENT (this “Agreement”) is made and entered into this
    day of             2014 (the “Effective Date”), by and between Montage Technology Group Limited, an exempted company organized under the Companies
Law of the Cayman Islands (the “Company”), and                     (the “Executive”). 

RECITALS 
 THE PARTIES
ENTER THIS AGREEMENT on the basis of the following facts, understandings and intentions: 
 A. The Executive is currently
employed with the Company, and the Company desires to provide severance benefits to the Executive in the event the Executive’s employment with the Company terminates under certain circumstances, on the terms and conditions set forth in this
Agreement. 
 B. This Agreement shall be effective immediately and shall supersede and negate all previous agreements and
understandings with respect to the subject matter hereof except as expressly noted herein. 
 AGREEMENT 

NOW, THEREFORE, in consideration of the above recitals incorporated herein and the mutual covenants and promises contained herein and
other good and valuable consideration, the receipt and sufficiency of which are hereby expressly acknowledged, the parties agree as follows: 
  

	1.	Termination of Employment. 

  

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

 (a) The Company shall pay the Executive (or, in the event of his death,
the Executive’s estate) any Accrued Obligations (as such term is defined in Section 2); 







 (b) If the Executive’s employment with the Company terminates as a result of a Qualifying
Termination (as such term is defined in Section 2), the Executive shall be entitled to the following benefits: 
 (i) The Company shall
pay the Executive (in addition to the Accrued Obligations), subject to tax withholding and other authorized deductions, an amount equal to one (1.0) times his base salary at the annualized rate in effect on the Severance Date. Such amount is
referred to hereinafter as the “Severance Benefit.” Subject to Section 16(b), the Company shall pay the Severance Benefit to the Executive in equal monthly installments over a period of twelve (12) consecutive months, with
the first such installment payable on (or within ten (10) days following) the sixtieth (60th) day following the Executive’s Separation from Service (as such term is defined in
Section 2). 
 (ii) As to each then-outstanding stock option and other equity-based award granted by the Company to the Executive that
vests based solely on the Executive’s continued service with the Company, the Executive shall vest as of the Severance Date in any portion of such award in which the Executive would have vested thereunder if the Executive’s employment with
the Company had continued for twenty-four (24) months after the Severance Date (and any portion of such award that is not vested after giving effect to this acceleration provision shall terminate on the Severance Date). As to each outstanding
stock option or other equity-based award granted by the Company to the Executive that is subject to performance-based vesting requirements, the vesting of such award will continue to be governed by its terms, provided that for purposes of any
service-based vesting requirement under such award, the Executive’s employment with the Company will be deemed to have continued for twenty-four (24) months after the Severance Date. 

(c) Notwithstanding the foregoing provisions of this Section 1.1, if the Executive breaches his obligations under any proprietary
information, invention assignment, non-solicitation or similar Agreement with the Company or any of its subsidiaries at any time, from and after the date of such breach and not in any way in limitation of any right or remedy otherwise available to
the Company, the Executive will no longer be entitled to, and the Company will no longer be obligated to pay or provide (as applicable), any payments or benefits pursuant to Section 1.1(b) to the extent not theretofore paid or provided;
provided that, if the Executive provides the release contemplated by Section 1.2, in no event shall the Executive be entitled to benefits pursuant to Section 1.1(b) of less than $5,000 (or the amount of such benefits, if less than $5,000),
which amount the parties agree is good and adequate consideration, in and of itself, for the Executive’s release contemplated by Section 1.2. 

(d) The foregoing provisions of this Section 1.1 shall not affect: (i) the Executive’s receipt of benefits otherwise due
terminated employees under group insurance coverage consistent with the terms of the applicable Company welfare benefit plan; (ii) the Executive’s rights under COBRA to continue participation in medical, dental, hospitalization and life
insurance coverage; or (iii) the Executive’s receipt of benefits otherwise due in accordance with the terms of the Company’s 401(k) plan (if any). 








	 	1.2	Release; Exclusive Remedy.  

 (a) This Section 1.2 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 the Executive pursuant to Section 1.1(b) or any other
obligation to accelerate vesting of any equity-based award in connection with the termination of the Executive’s employment, the Executive shall provide the Company with a valid, executed general release agreement in a form reasonably
acceptable to the Company (the “Release”), and such Release shall have not been revoked by the Executive pursuant to any revocation rights afforded by applicable law. The Company shall provide the final form of Release to the
Executive not later than seven (7) days following the Severance Date, and the Executive shall be required to execute and return the Release to the Company within twenty-one (21) days (or forty-five (45) days if such longer period of
time is required to make the Release maximally enforceable under applicable law) after the Company provides the form of Release to the Executive. 

(b) The Executive agrees that the payments and benefits contemplated by Section 1.1 (and any applicable acceleration of vesting of an
equity-based award in accordance with the terms of such award in connection with the termination of the Executive’s employment) shall constitute the exclusive and sole remedy for any termination of his employment and the Executive covenants not
to assert or pursue any other remedies, at law or in equity, with respect to any termination of employment. The Company and the Executive acknowledge and agree that there is no duty of the Executive to mitigate damages under this Agreement. All
amounts paid to the Executive pursuant to Section 1.1 shall be paid without regard to whether the Executive has taken or takes actions to mitigate damages. The Executive agrees to resign, on the Severance Date, as an officer and director of the
Company and any affiliate of the Company, and as a fiduciary of any benefit plan of the Company or any affiliate of the Company, and to promptly execute and provide to the Company any further documentation, as requested by the Company, to confirm
such resignation. 
  

	2.	Certain Defined Terms. As used herein, the following terms shall have the meanings set forth below in this Section 2. 


(a) “Accrued Obligations” means (i) any of the Executive’s base salary from the Company that had accrued but had not
been paid (including accrued and unpaid vacation time) on or before the Severance Date; and (ii) any reimbursement due to the Executive for expenses reasonably incurred by the Executive on or before the Severance Date and documented and
pre-approved, to the extent applicable, in accordance with the Company’s expense reimbursement policies in effect at the applicable time. 







 (b) “Cause” means that one or more of the following has occurred: 

 

	 	(i)	the Executive is convicted of, pled guilty or pled nolo contendere to a felony (under the laws of the United States or any relevant state, or a similar crime or offense under the applicable laws of any relevant
foreign jurisdiction); 

  

	 	(ii)	the Executive has engaged in acts of fraud, dishonesty or other acts of willful misconduct in the course of his duties hereunder; 

  

	 	(iii)	the Executive willfully fails to perform or uphold his duties under this Agreement and/or willfully fails to comply with reasonable directives of the Company’s Board of Directors (the “Board”); or


  

	 	(iv)	a material breach by the Executive of this Agreement or any other contract he is a party to with the Company or any of its subsidiaries. 


provided, however, that any such condition or conditions, as applicable, shall not constitute Cause unless the Board provides written notice to
the Executive of the condition(s) claimed to constitute Cause (such notice to be delivered in accordance with Section 13), and the Executive fails to remedy such condition(s) within thirty (30) days of receiving such written notice
thereof; and provided, further, that no act or failure to act, on the Executive’s part shall be considered “willful” unless done, or omitted to be done, by the Executive not in good faith and without reasonable belief that the
Executive’s action or omission was in the best interest of the Company. 
 (c) “Change in Control” means that one or
more of the following has occurred: 
  

	 	(i)	The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (a “Person”)) of beneficial ownership
(within the meaning of Rule 13d-3 promulgated under such Act) of more than 30% of either (1) the then-outstanding ordinary shares of the Company (the “Outstanding Company Ordinary Shares”) or (2) the combined voting power
of the then-outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that, for purposes of this clause (a), the following
acquisitions shall not constitute a Change in Control; (A) any acquisition directly from the Company, (B) any acquisition by the Company, (C) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by
the Company or any affiliate of the Company or a successor, or (D) any acquisition by any entity pursuant to a transaction that complies with clauses (1), (2) and (3) of paragraph (iii) below; 


 

	 	(ii)	 Individuals who, as of the Effective Date, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a
majority of the Board; provided, however, that any individual becoming a director subsequent to the Effective Date whose election, or nomination for 










	 	
election by the Company’s shareholders, was approved by a vote of at least two-thirds of the directors then comprising the Incumbent Board (including for these purposes, the new members
whose election or nomination was so approved, without counting the member and his predecessor twice) shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose
initial assumption of office occurs 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; 

  

	 	(iii)	Consummation of a reorganization, merger, statutory share exchange or consolidation or similar corporate transaction involving the Company or any of its subsidiaries, a sale or other disposition of all or substantially
all of the assets of the Company, or the acquisition of assets or stock of another entity by the Company or any of its subsidiaries (each, a “Business Combination”), in each case unless, following such Business Combination,
(1) all or substantially all of the individuals and entities that were the beneficial owners of the Outstanding Company Ordinary Shares and the Outstanding Company Voting Securities immediately prior to such Business Combination beneficially
own, directly or indirectly, more than 50% of the then-outstanding shares of common stock and the combined voting power of the then-outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the
entity resulting from such Business Combination (including, without limitation, an entity that, as a result of such transaction, owns the Company or all or substantially all of the Company’s assets directly or through one or more subsidiaries
(a “Parent”)) in substantially the same proportions as their ownership immediately prior to such Business Combination of the Outstanding Company Ordinary Shares and the Outstanding Company Voting Securities, as the case may be,
(2) no Person (excluding any entity resulting from such Business Combination or a Parent or any employee benefit plan (or related trust) of the Company or such entity resulting from such Business Combination or Parent) beneficially owns,
directly or indirectly, more than 30% of, respectively, the then-outstanding shares of common stock of the entity resulting from such Business Combination or the combined voting power of the then-outstanding voting securities of such entity, except
to the extent that the ownership in excess of 30% existed prior to the Business Combination, and (3) at least a majority of the members of the board of directors or trustees of the entity resulting from such Business Combination or a Parent
were members of the Incumbent Board at the time of the execution of the initial agreement or of the action of the Board providing for such Business Combination; or 


 

	 	(iv)	Approval by the shareholders of the Company of a complete liquidation or dissolution of the Company other than in the context of a transaction that does not constitute a Change in Control under clause (iii) above.









 (d) “Disability” means a physical or mental impairment which, as reasonably
determined by the Board, renders the 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 90 days in any
180-day period, unless a longer period is required by federal or state law, in which case that longer period would apply. 
 (e) As used
herein, “Good Reason” shall mean the occurrence (without the Executive’s consent) of any one or more of the following conditions: 
  

	 	(i)	a material diminution in the Executive’s rate of base salary; 

  

	 	(ii)	a material diminution in the Executive’s authority, duties, or responsibilities; 

  

	 	(iii)	a material change in the geographic location of the Executive’s principal office with the Company (for this purpose, a relocation of such office to a new location that is more than fifty (50) miles from the
current location of the Company’s executive offices and that increases the Executive’s commute shall be deemed to be a “material change”); or 

  


	 	(iv)	a material breach by the Company of this Agreement or any other agreement to which the Company is a party with the Executive; 


provided, however, that any such condition or conditions, as applicable, shall not constitute Good Reason unless both (x) the Executive
provides written notice to the Company of the condition(s) claimed to constitute Good Reason within ninety (90) days of the initial existence of such condition(s) (such notice to be delivered in accordance with Section 13), and
(y) the Company fails to remedy such condition(s) within thirty (30) days of receiving such written notice thereof; and provided, further, that in all events the termination of the Executive’s employment with the Company shall not
constitute a termination for Good Reason unless such termination occurs not more than one (1) year following the initial existence of the condition claimed to constitute Good Reason. 

(f) As used herein, “Qualifying Termination” shall mean, in connection with or within the period of twelve (12) months
following a Change in Control, either (i) a termination of the Executive’s employment by the Company without Cause (and other than due to Executive’s death or in connection with a good faith determination by the Board that the
Executive has a Disability), or (ii) a resignation by the Executive for Good Reason. 
 (g) As used herein, a “Separation from
Service” occurs when the Executive dies, retires, or otherwise has a termination of employment with the Company that constitutes a “separation from service” within the meaning of Treasury Regulation Section 1.409A-1(h)(1),
without regard to the optional alternative definitions available thereunder. 








	3.	Withholding Taxes. Notwithstanding anything else herein to the contrary, the Company may withhold (or cause there to be withheld, as the case may be) from any amounts otherwise due or payable under or
pursuant to this Agreement such federal, state and local income, employment, or other taxes as may be required to be withheld pursuant to any applicable law or regulation. 


 

	4.	Successors and Assigns. 

 (a) This Agreement is personal to the Executive and
without the prior written consent of the Company shall not be assignable by the Executive otherwise than by will or the laws of descent and distribution. This Agreement shall inure to the benefit of and be enforceable by the Executive’s legal
representatives. 
 (b) This Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns. Without
limiting the generality of the preceding sentence, the Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company to
assume expressly and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. As used in this Agreement, “Company” shall mean the
Company as hereinbefore defined and any successor or assignee, as applicable, which assumes and agrees to perform this Agreement by operation of law or otherwise. 
  

	5.	Number and Gender; Examples. Where the context requires, the singular shall include the plural, the plural shall include the singular, and any gender shall include all other genders. Where specific
language is used to clarify by example a general statement contained herein, such specific language shall not be deemed to modify, limit or restrict in any manner the construction of the general statement to which it relates. 


 

	6.	Section Headings. The section headings of, and titles of paragraphs and subparagraphs contained in, this Agreement are for the purpose of convenience only, and they neither form a part of this Agreement
nor are they to be used in the construction or interpretation thereof. 

  

	7.	Governing Law. This Agreement shall be deemed to have been executed and delivered within the State of California, and the rights and obligations of the parties hereunder shall be construed and enforced in
accordance with, and governed by, the laws of the State of California without regard to principles of conflict of laws. 

  

	8.	Severability. If any provision of this Agreement or the application thereof is held invalid, the invalidity shall not affect other provisions or applications of this Agreement which can be given effect
without the invalid provisions or applications and to this end the provisions of this Agreement are declared to be severable. 

  

	9.	 Entire Agreement. This Agreement (and the other documents referred to herein) embodies the entire agreement of the parties hereto
respecting the matters within its scope. This Agreement supersedes all prior and contemporaneous agreements of the parties hereto that directly or indirectly bears upon the subject matter hereof. Any prior negotiations, correspondence, agreements,
proposals or understandings relating to the 










	 	
subject matter hereof shall be deemed to have been merged into this Agreement, and to the extent inconsistent herewith, such negotiations, correspondence, agreements, proposals, or understandings
shall be deemed to be of no force or effect. There are no representations, warranties, or agreements, whether express or implied, or oral or written, with respect to the subject matter hereof, except as expressly set forth herein. 


 

	10.	Modifications. This Agreement may not be amended, modified or changed (in whole or in part), except by a formal, definitive written agreement expressly referring to this Agreement, which agreement is
executed by both of the parties hereto. 

  

	11.	Waiver. No waiver of any breach of any term or provision of this Agreement shall be construed to be, nor shall be, a waiver of any other breach of this Agreement. No waiver shall be binding unless in
writing and signed by the party waiving the breach. 

  

	12.	Arbitration. The Executive and the Company agree that any controversy arising out of or relating to this Agreement, its enforcement or interpretation, or because of an alleged breach, default, or
misrepresentation in connection with any of its provisions, or any other controversy arising out of Executive’s employment, including, but not limited to, any state or federal statutory claims, shall be submitted to arbitration in Santa Clara
County, California, before a sole arbitrator (the “Arbitrator”) selected from the American Arbitration Association, as the exclusive forum for the resolution of such dispute; provided, however, that provisional injunctive relief
may, but need not, be sought by either party to this Agreement in a court of law while arbitration proceedings are pending, and any provisional injunctive relief granted by such court shall remain effective until the matter is finally determined by
the Arbitrator. Final resolution of any dispute through arbitration may include any remedy or relief which the Arbitrator deems just and equitable, including any and all remedies provided by applicable state or federal statutes. At the conclusion of
the arbitration, the Arbitrator shall issue a written decision that sets forth the essential findings and conclusions upon which the Arbitrator’s award or decision is based. Any award or relief granted by the Arbitrator hereunder shall be final
and binding on the parties hereto and may be enforced by any court of competent jurisdiction. The parties acknowledge and agree that they are hereby waiving any rights to trial by jury in any action, proceeding or counterclaim brought by either of
the parties against the other in connection with any matter whatsoever arising out of or in any way connected with this Agreement or Executive’s employment. The parties agree that the Company shall be responsible for payment of the forum costs
of any arbitration hereunder, including the Arbitrator’s fee, but that each party shall bear its own attorneys fees and other expenses. 

  

	13.	Notices. Any notice provided for in this Agreement must be in writing and must be either personally delivered, transmitted via telecopier, mailed by first class mail (postage prepaid and return receipt
requested) or sent by reputable overnight courier service (charges prepaid) to the recipient at the address below indicated or at such other address or to the attention of such other person as the recipient party has specified by prior written
notice to the sending party. Notices will be deemed to have been given hereunder and received when delivered personally, when received if transmitted via telecopier, five days after deposit in the U.S. mail and one day after deposit with a reputable
overnight courier service. 








 if to the Company: 

Montage Technology Group Limited 

2025 Gateway Place, Suite 262 

San Jose, CA 
 Attention: Howard
C. Yang, Chief Executive Officer 
 with a copy to: 

O’Melveny & Myers LLP 

Two Embarcadero Center, 28th Floor 

San Francisco, CA 94111-3823 

Attn: Eric Sibbitt, Esq. 
 if to
the Executive, to the address most recently on file in the payroll records of the Company. 
  

	14.	Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original as against any party whose signature appears thereon, and all of which together shall
constitute one and the same instrument. This Agreement shall become binding when one or more counterparts hereof, individually or taken together, shall bear the signatures of all of the parties reflected hereon as the signatories. Photographic
copies of such signed counterparts may be used in lieu of the originals for any purpose. 

  

	15.	Legal Counsel; Mutual Drafting. Each party recognizes that this is a legally binding contract and acknowledges and agrees that they have had the opportunity to consult with legal counsel of their choice.
Each party has cooperated in the drafting, negotiation and preparation of this Agreement. Hence, in any construction to be made of this Agreement, the same shall not be construed against either party on the basis of that party being the drafter of
such language. The Executive agrees and acknowledges that he has read and understands this Agreement, is entering into it freely and voluntarily, and has been advised to seek counsel prior to entering into this Agreement and has had ample
opportunity to do so. 

  

	16.	Section 409A. 

 (a) It is intended that any amounts payable under this
Agreement shall either be exempt from or comply with Section 409A of the Code (including the Treasury regulations and other published guidance relating thereto) (“Code Section 409A”) so as not to subject the Executive to
payment of any additional tax, penalty or interest imposed under Code Section 409A. The provisions of this Agreement shall be construed and interpreted to avoid the imputation of any such additional tax, penalty or interest under Code
Section 409A yet preserve (to the nearest extent reasonably possible) the intended benefit payable to the Executive. 







 (b) If the Executive is a “specified employee” within the meaning of Treasury
Regulation Section 1.409A-1(i) as of the date of the Executive’s Separation from Service, the Executive shall not be entitled to any payment or benefit pursuant to Section 1.1(b) until the earlier of (i) the date which is six
(6) months after his or her Separation from Service for any reason other than death, or (ii) the date of the Executive’s death. The provisions of this Section 16(b) shall only apply if, and to the extent, required to avoid the
imputation of any tax, penalty or interest pursuant to Code Section 409A. Any amounts otherwise payable to the Executive upon or in the six (6) month period following the Executive’s Separation from Service that are not so paid by
reason of this Section 16(b) shall be paid (without interest) as soon as practicable (and in all events within thirty (30) days) after the date that is six (6) months after the Executive’s Separation from Service (or, if earlier,
as soon as practicable, and in all events within thirty (30) days, after the date of the Executive’s death). 

[The remainder of this page has intentionally been left blank.] 







 IN WITNESS WHEREOF, the Company and the Executive have executed this Agreement as of the
Effective Date. 
  

			
	“COMPANY” 
	
	 Montage Technology Group Limited,

an exempted company organized under the Companies Law of the Cayman Islands,

		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	“EXECUTIVE”