Employee Offer Letter



 Exhibit 10.1 

 
 



 
 MAXLINEAR, INC. 
 2051 Palomar Airport Road, Suite 100 
 Carlsbad, CA 92011 

September 11, 2011 
 Justin Scarpulla

 Subject: Offer of Employment  
 Dear Justin, 
 I would like to offer you our heartfelt congratulations on your selection as a final
candidate for a position at MaxLinear. You have met the exacting meritocracy standards of personal and professional achievement to which we hold all our employees. We are truly excited to extend you an offer of employment at MaxLinear as specified
below. Your acceptance of our offer will represent an important milestone in our rapid growth as a fabless, communications IC company. 
 First
and foremost, we immensely value your superior qualities of proven technical competence, and passion for excellence. Your personal attributes are congruent with our cherished EPIC
values—“Excellence, People, Integrity, and Compassion”. Together, with your
able partnership, we aim to build a world class IC Company. 
 In our workplace, we foster an environment of risk-taking & reward,
along with a relentless focus on customer-driven products. By being true to this principle, we are determined to create a company with a business model and an organization that will set altogether new and lofty standards in work culture. In
addition, MaxLinear will constantly endeavor to uphold its commitment to making “Every working day a lot of fun”. We thank you for your interest in MaxLinear and look forward to unparalleled success together as partners in
the same adventure. 
 Employment Offer 
 I am very pleased to offer you a position with MaxLinear, Inc. (the “Company”), as Vice President and Corporate Controller, reporting to Adam Spice, CFO. We are offering you an annual
salary of $185,000, in addition to your being eligible for a target annual bonus of up to 30% of your base salary (prorated based on your start date), and a recommendation to our Board of Directors (or an authorized committee) to approve an equity
grant of either restricted stock units (RSU) with respect to 70,000 shares OR 140,000 stock options (upon your preference, and can be selected as a mix of RSU’s to options on a ratio of 1:2), subject to the Board or committee’s
approval and the vesting described below. 
 If you decide to join us, you will receive semi-monthly payments of salary, in accordance with the
Company’s normal payroll procedures and you will also be eligible to receive certain employee benefits, such as paid time off, participation in our 401K plan, employer contribution towards health insurance premiums, etc. The details of these
employee benefits will be explained in greater detail in a subsequent correspondence. You should note that the Company may modify job titles, salaries, and benefits from time to time as it deems necessary.  








 



 
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 Performance Evaluation Period 

After the initial three (3) months of employment at MaxLinear, your performance against your job responsibilities will be evaluated by your direct
supervisors. After your job performance has been deemed to be satisfactory, there will be regular follow-up performance evaluations annually or as in accordance with the MaxLinear Employee Handbook. 

New Hire Bonus 
 We are
pleased to offer you a sign-on bonus of $45,000. In the event that you voluntarily terminate your employment with the Company within 1 year of your start date, you will be obligated to repay the Company this sign-on bonus. 

Equity Incentive 
 The
Company will recommend that its Board of Directors (or an authorized committee) approve equity related compensation of RSUs as specified in the compensation proposal above. This equity related compensation will be subject to the terms and conditions
of the 2010 Equity Incentive Plan and the form of agreement approved by the Board. Your equity incentive award will be subject to a vesting condition. The award will vest over four years based on your continuing to provide services to the Company.
No right to any shares will be earned or accrued until such time as they have become fully vested. In addition, the grant of equity awards and subsequent vesting will not confer any additional right to continued vesting or employment or modify in
any way the “at will” status of the employment relationship. 
 The Company generally structures RSU vesting to ensure that the
vesting dates occur during an open trading window under the Company’s Insider Trading Policy. However, the Company cannot provide any assurance that the trading window will be open when RSUs vest as the Company may close the trading window at
any time if it determines appropriate. Twenty five percent (25%) of the shares subject to RSUs will vest during the first February, May, August, or November to occur following the first anniversary of your employment. For example, if your first
date of employment was January 5, 2011, twenty five percent (25%) of your shares would be expected to vest during February 2012. Thereafter, RSUs will vest on a quarterly basis over the remaining three years, with all vesting dates falling
in February, May, August, or November. 
 Other Employment Terms 
 The Company is excited about your joining and looks forward to a beneficial and productive relationship. Nevertheless, you should be aware that your employment with the Company is for no specified period
and constitutes at-will employment. As a result, you are free to resign at any time, for any reason or for no reason. Similarly, the Company is free to conclude its employment relationship with you at any time, with or without cause, and with or
without notice. We request that, in the event of resignation, you give the Company at least two weeks notice. For purposes of federal immigration law, you will be required to provide to the Company documentary evidence of your identity and
eligibility for employment in the United States. Such documentation must be provided to us within three (3) business days of the effective date of your employment, or our employment relationship with you may be terminated. If you anticipate you
may have immigration issues, please advise us now so that we may start to investigate those issues prior to your effective date. 








 



 
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 We also ask that, if you have not already done so, you disclose to the Company any agreements relating
to your prior employment that may affect your eligibility to be employed by the Company or that may limit the manner in which you may be employed. It is our understanding that any such agreements will not prevent you from performing the duties of
your position, and you represent that such is the case. Moreover, you agree that, during the term of your employment with the Company, you will not engage in any other employment, occupation, consulting or other business activity directly related to
the business in which the Company is now involved or becomes involved during the term of your employment, nor will you engage in any other activities that conflict with your obligations to the Company. Similarly, you agree not to bring any third
party confidential information to the Company, including that of any former employer, and that in performing your duties for the Company you will not in any way utilize any such information. 
 As a condition of your employment, you are also required to sign and comply with an At-Will Employment, Confidential Information, Invention Assignment and Arbitration Agreement which requires, among other
provisions, the assignment of patent and other intellectual property rights to any invention made during your employment at the Company, non-disclosure of the Company’s proprietary information, and arbitration of disputes between you and the
Company. Please note that we must receive this signed agreement on or before your effective date. 
 To accept the Company’s employment
proposal, please sign and date the Acceptance Form attached to this letter; and, to maintain the confidentiality of compensation information, return a copy of ONLY the Acceptance Form page to me by fax at
760-444-8598. A duplicate original of this letter is enclosed for your records. This letter, along with any agreements relating to proprietary rights between you and the Company, sets forth the terms of your employment with the Company and
supersedes any prior representations or agreements including, but not limited to, any representations made during your recruitment, interviews or pre-employment negotiations, whether written or oral. This letter may not be modified or amended except
by a written agreement signed by the President of the Company and you. 
 This offer of employment will terminate if it is not accepted, signed
and returned by September 12, 2011. We look forward to your favorable reply and to working with you at MaxLinear, Inc. 
  

	
	Sincerely,
	
	FOR MAXLINEAR, INC.
	
	




	Daisy Castro
	Human Resources Business Partner
	
	




	Adam Spice
	Chief Financial Officer










 



 
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 OFFER ACCEPTANCE FORM 

The terms of the letter dated September 11, 2011 are agreed to and accepted: 

 

			
	
	Printed Name: Justin Scarpulla
	
	Signature: 




	
	Date: 9/12/11
	
	Anticipated Start Date:                      
                               
	
	Equity Grant Preference: 70,000 RSUs

 Enclosures: 
 1. MaxLinear Mission Statement 
 2. 2011 Benefits Guide