Exhibit 10.1



STOCK OPTION AGREEMENT under the MIPS TECHNOLOGIES, INC.1998 LONG-TERM INCENTIVE PLANINTERNATIONAL

This
Stock Option Agreement (the Option Agreement) together with the accompanying
Notice of Stock Option Grant (the Notice) which is incorporated herein by
reference, constitutes the Award Document pursuant to which the Administrator of the MIPS
Technologies, Inc. 1998 Long-Term Incentive Plan (the Plan) has granted to the
Optionee named in the attached Notice an option (the Option) to purchase the
total number of shares of Common Stock as set forth in the Notice at the exercise price
per share set forth in the Notice, subject to the terms and conditions of the Plan, which
is incorporated herein by this reference, and the Award Document. Terms defined in the
Plan but not in the Award Document shall have the meanings set forth in the Plan. In the
event of any conflict between the terms and conditions of the Plan and the terms and
conditions of the Award Document, the terms and conditions of the Plan (including but not
limited to Section 16) shall prevail.

1.        
Nature of the Option. The Option shall be a Nonqualified Stock Option.

2.        
Exercise of Option.

(a)
      Right to Exercise. This Option is exercisable,
in whole or in part, during its           term in accordance with the Vesting Schedule
set out in the Notice and the           applicable provisions of the Plan and this Option
Agreement. In the event of           certain types of leaves of absence, your vesting may
be suspended for a period           of time.

(b)      Method
of Exercise. This Option shall be exercisable by written notice in the           form
provided by the Company and signed by the Optionee and delivered to the           Companys
Stock Administration Department, or by using the electronic           exercise methods
approved from time to time by the Companys Stock           Administration
Department. The current exercise procedures and the appropriate           exercise
documentation are available on the Companys internal web site and           from
the Companys Stock Administration Department. The exercise notice           shall
state the number of shares in respect of which the Option is being           exercised
(the Exercised Shares) and shall be accompanied by payment           of the
aggregate exercise price (the Exercise Price). The Option           shall be
deemed to be exercised upon receipt by the Company of such exercise           notice
accompanied by the Exercise Price.

(c)       Transfer
of Shares. No shares shall be issued pursuant to the exercise of this           Option
unless such issuance and exercise complies with applicable laws. Assuming           such
compliance, for income tax purposes the Exercised Shares shall be           considered
transferred to the Optionee on the date the Option is exercised with           respect to
such Exercised Shares.

3.
        Method of Payment. Unless otherwise           determined by the Committee, payment of the
Exercise Price may only be made by           one of the following methods, or a
combination thereof, at the election of the           Optionee:

(a)                cash;
or

(b)      
check; or

(c)      
consideration received by the Company under a           cashless exercise program
implemented by the Company in connection           with the Plan.

The
following provisions of this Section 3 apply to Optionees in the Peoples Republic of
China (PRC) not having permanent residence in a country other than the PRC
(PRC Optionees). Due to foreign exchange regulations in the PRC, the method of
payment for PRC Optionees will be limited to a cashless exercise in accordance with this
Section 3(c). This means that all Option exercises by PRC Optionees will be a simultaneous
purchase of shares and sale of all of those same shares on the NASDAQ. The Companys
Stock Administration Department will assist PRC Optionees in this transaction. The
proceeds will be transmitted to or with the assistance of the Companys applicable
PRC subsidiary for currency exchange into Renminbi and transmittal to PRC Optionees. The
amount remitted to PRC Optionees will equal the sales price, minus the Exercise Price and
any taxes, brokers commissions and fees, to the extent applicable. In accordance
with this provision, PRC Optionees will not hold shares following a payment event at the
time of Exercise and as such the other provisions in this Option Agreement regarding the
holding of shares by an Optionee after issuance shall not apply to PRC Optionees.

4.        
Rights as Shareholder. Until the issuance (as evidenced by the appropriate entry           on
the books of the Company or of a duly authorized transfer agent of the           Company)
of the shares, no right to vote or receive dividends or any other           rights as a
shareholder shall exist with respect to the Common Stock subject to           this
Option, notwithstanding the exercise of the Option. The shares so acquired
          shall be issued to the Optionee as soon as practicable after exercise of the
          Option. No adjustment will be made for a dividend or other right for which the
          record date is prior to the date of issuance, except as provided in Section 15
          of the Plan. 5. Post-Termination Exercise Period. Subject to Section 6 below,
          unless otherwise determined by the Committee, if Optionee ceases to serve as an
          Employee or Consultant (whichever was applicable at date of grant), he or she
          may, but only within three (3) months after the date he or she ceases to be
such           an Employee or Consultant, exercise this Option to the extent that he or
she was           entitled to exercise it at the date of such termination (but in no
event later           than the expiration of the term of such Option as set forth in
Section 8 below).           To the extent that Optionee was not entitled to exercise this
Option at the date           of such termination, and to the extent he or she does not
exercise this Option           within the time specified herein, the Option shall
terminate. 6. Death or           Disability of Optionee. If Optionee ceases to serve as
an Employee or Consultant           as a result of death or permanent disability (as
defined in Section 22(e)(3) of           the Code), this Option shall immediately become
fully vested and exercisable.           The Option shall remain exercisable for twelve
(12) months following the           Optionees death or permanent disability (but in
no event later than the           expiration of the term of such Option as set forth in
Section 8 below). 7.           Non-Transferability of Option. Unless otherwise determined
by the Committee,           this Option may not be transferred in any manner otherwise
than by will or by           the laws of descent or distribution and may be exercised
during the lifetime of           Optionee only by the Optionee. The terms of the Plan,
the Notice and this Option           Agreement shall be binding upon the executors,
administrators, heirs, successors           and assigns of the Optionee.

5.        
Post-Termination Exercise Period. Subject to Section 6 below,           unless otherwise
determined by the Committee, if Optionee ceases to serve as an           Employee or
Consultant (whichever was applicable at date of grant), he or she           may, but only
within three (3) months after the date he or she ceases to be such           an Employee
or Consultant, exercise this Option to the extent that he or she was           entitled
to exercise it at the date of such termination (but in no event later           than the
expiration of the term of such Option as set forth in Section 8 below).           To the
extent that Optionee was not entitled to exercise this Option at the date           of
such termination, and to the extent he or she does not exercise this Option
          within the time specified herein, the Option shall terminate.

6.        
Death or Disability of Optionee. If Optionee ceases to serve as an Employee or Consultant
          as a result of death or permanent disability (as defined in Section 22(e)(3) of
          the Code), this Option shall immediately become fully vested and exercisable.
          The Option shall remain exercisable for twelve (12) months following the
          Optionees death or permanent disability (but in no event later than the
          expiration of the term of such Option as set forth in Section 8 below).

7.        
       Non-Transferability of Option. Unless otherwise determined by the Committee,
          this Option may not be transferred in any manner otherwise than by will or by
          the laws of descent or distribution and may be exercised during the lifetime of
          Optionee only by the Optionee. The terms of the Plan, the Notice and this
Option           Agreement shall be binding upon the executors, administrators, heirs,
successors           and assigns of the Optionee.

8.        
Term of Option. Unless earlier terminated as provided herein, this Option may be
          exercised only during a term of ten (10) years (five (5) years if Optionee
owns,           immediately before this Option is granted, stock representing more than
ten           percent (10%) of the total combined voting power of all classes of stock of
the           Company) from the Date of Grant of this Option, and may be exercised during
such           term only in accordance with the terms of the Plan, the Notice and this
Option           Agreement.

9.        
Tax Consequences. THERE ARE POTENTIAL TAX CONSEQUENCES ASSOCIATED           WITH THE
GRANT, VESTING AND EXERCISE OF THIS OPTION. THE OPTIONEE SHOULD CONSULT           A TAX
ADVISER UPON RECEIVING AND BEFORE EXERCISING THIS OPTION OR DISPOSING OF           THE
SHARES. The Company will assess its requirements regarding tax, social
          insurance and any other payroll tax (tax-related items) withholding
          and reporting in connection with the Option, including the grant, vesting or
          exercise of the Option or sale of Stock acquired pursuant to such exercise.
          These requirements may change from time to time as laws or interpretations
          change. Regardless of the Company actions in this regard, the Optionee hereby
          acknowledges and agrees that the ultimate liability for any and all tax-related
          items is and remains his or her responsibility and liability and that the
          Company makes no representations nor undertakings regarding treatment of any
          tax-related items in connection with any aspect of the Option grant, including
          the grant, vesting or exercise of the Option and the subsequent sale of shares
          acquired pursuant to such exercise; and does not commit to structure the terms
          of the grant or any aspect of the Option to reduce or eliminate the
          Optionees liability regarding tax-related items.

In
the event that the Company and/or its Subsidiary must withhold any tax-related items as a
result of the grant, vesting, or exercise of the Option or the immediate sale of shares,
the Optionee agrees to make arrangements satisfactory to the Company and/or its Subsidiary
to withhold all applicable tax-related items legally due from the Optionee from his or her
wages or other cash compensation paid him or her by the Company or its Subsidiary or from
proceeds from the sale of shares, and the exercise of the Option and delivery of shares
subject thereto shall be conditioned on satisfaction of such withholding obligations.

The
following provisions of this Section 9 apply in addition to Optionees in the United
Kingdom. Where, in relation to this option, Company, parent or Subsidiary is liable to
account to the Inland Revenue for any sum in respect of any income tax under Pay As You
Earn the Optionee hereby agrees that the Company, its parent or any Subsidiary shall be
entitled to withhold, in the manner indicated in the paragraph below and in Section 9 of
this Option Agreement, any tax payable within 30 days after the exercise, assignment,
release or cancellation of the Option (Chargeable Event).

In
addition to the withholding provisions set out in Section 9 of this Option Agreement, the
Optionee hereby agrees that the Company, its parent or Subsidiary may withhold or collect
any tax and Secondary Class 1 National Insurance Contributions: (i) by deduction from
salary or any other payment payable to the Optionee at any time on or after the date of
the Chargeable Event; and (ii) directly from the Optionee by payment in cleared funds. The
Optionee also authorises the Company, its parent or Subsidiary to withhold the transfer of
any shares unless payment is received within the requisite period.

Joint
Election Agreement For Optionees In the United Kingdom. The exercise of the Option is
conditional upon and subject to a joint election between Optionee and the Company or its
parent or any Subsidiary of the Company (the Election), being formally
approved by the Inland Revenue and remaining in force thereafter, to provide for the
shifting of any Secondary Class 1 National Insurance Contribution liability in connection
with the exercise of the Option from the Company and/or any Subsidiary to Optionee. The
exercise of the Option is further conditional upon and subject to Optionee executing the
Election. By accepting the Option, to the extent allowable by applicable law, Optionee
hereby consents to and agrees to satisfy any liability the Company or its parent or any
Subsidiary realizes with respect to Secondary Class 1 National Insurance Contribution
payments required to be paid by the Company and/or any Subsidiary in connection with the
exercise of the Option. The Optionee hereby authorizes the Company or its parent or
Subsidiary to collect any such Secondary Class 1 National Insurance Contributions in the
manner set out in Section 9 and the paragraph above. If additional consents and/or any
elections are required to accomplish the foregoing, Optionee agrees to provide them
promptly upon request. If the foregoing is not allowed under applicable law the Company,
its parent or Subsidiary may rescind the Option. If Optionee does not enter an Election,
or the Election is revoked at any time by the Inland Revenue, the Option shall become
immediately null and void without any liability to Company or its parent or any Subsidiary
and may not be exercised and shall lapse with immediate effect.

The
following provisions of this Section 9 apply to Optionees in the PRC (PRC Resident
Optionees). Where, in relation to this option, Company, parent or Subsidiary is
liable to account to the relevant PRC local tax bureau for any sum in respect of any PRC
individual income tax and social insurance withholding the Optionee hereby agrees that the
Company, its parent or any Subsidiary shall be entitled to withhold such amounts in
accordance with applicable PRC law.

10.                  Adjustments.
All references to the number of shares, the exercise price per           share, and other
terms in this Option Agreement may be appropriately adjusted,           in the discretion
of the Committee, as provided in the Plan.

11.        
No Guarantee of           Continued Service. OPTIONEE ACKNOWLEDGES AND AGREES THAT THE
VESTING OF SHARES           PURSUANT TO THE VESTING SCHEDULE SET FORTH IN THE NOTICE IS
EARNED ONLY BY           CONTINUING AS AN EMPLOYEE OR CONSULTANT AT THE WILL OF THE
COMPANY, ITS PARENT           OR A SUBSIDIARY (AND NOT THROUGH THE ACT OF BEING HIRED,
BEING GRANTED AN OPTION           OR PURCHASING SHARES HEREUNDER). OPTIONEE FURTHER
ACKNOWLEDGES AND AGREES THAT           THE PLAN AND THE AWARD DOCUMENT, THE TRANSACTIONS
CONTEMPLATED HEREUNDER AND THE           VESTING SCHEDULE DO NOT CONSTITUTE AN EXPRESS OR
IMPLIED PROMISE OF CONTINUED           ENGAGEMENT AS AN EMPLOYEE OR CONSULTANT FOR THE
VESTING PERIOD, FOR ANY PERIOD,           OR AT ALL, AND SHALL NOT INTERFERE WITH OPTIONEES
RIGHT OR THE RIGHT OF           THE COMPANY, ITS PARENT OR A SUBSIDIARY TO TERMINATE
OPTIONEES           RELATIONSHIP AS AN EMPLOYEE OR CONSULTANT AT ANY TIME, WITH OR
WITHOUT CAUSE.

12.        
Limitation on Rights. In accepting the grant, Optionee acknowledges that: (i)           the Plan is
discretionary in nature and may be suspended or terminated by           Company at any
time; (ii) the grant of the Options is voluntary and occasional           and does not
create any contractual or other right to receive future grants of           options, or
benefits in lieu of options even if options have been granted           repeatedly in the
past; (iii) all decisions with respect to any such future           grants will be at the
sole discretion of Company; (iv) Optionees           participation in the Plan is
voluntary; (v) the value of the Option is an           extraordinary item of compensation
which is outside the scope of Optionees           employment contract, if any; (vi)
the Options are not part of normal or expected           compensation or salary for any
purposes, including, but not limited to,           calculating any severance,
resignation, redundancy, end of service payments,           bonuses, long-service awards,
pension or retirement benefits or similar           payments; (vii) in the event Optionees
employment is terminated           involuntarily, Optionees right, if any, to
receive Options and vest in           Options under the Plan will terminate effective as
of the date Optionee is           terminated as an Employee regardless of any reasonable
notice period mandated           under local law and Optionees right, if any, to
exercise the Options after           involuntary termination of employment, will be
measured by the date of           Optionees termination as an Employee and will not
be extended by any           reasonable notice period mandated under local law; (viii)
the Options have been           granted to Optionee in Optionees status as an
Employee of Optionees           employer, and, in the event that Optionees
employer is not Company, the           Option grant can in no event be understood or
interpreted to mean that Company           is Optionees employer or that Optionee
has an employment relationship with           Company; (ix) the future value of the
underlying shares is unknown and cannot be           predicted with certainty; (x) if the
underlying shares do not increase in value,           the Options will have no value;
(xi) no claim or entitlement to compensation or           damages arises from termination
of the Options or diminution in value of the           Options or shares purchased
through exercise of the Options and Optionee           irrevocably releases Company and
Optionees employer from any such claim           that may arise; and (xii) the
Optionee will have no entitlement to compensation           or damages in consequence of
the termination of his employment by the Company or           any Subsidiary for any
reason whatsoever and whether or not in breach of           contract, insofar as such
entitlement arises or may arise from the Optionee           ceasing to have rights under
or to be entitled to exercise the Option as a           result of such termination or
from the loss of diminution in value of the same           and, upon grant, the Optionee
will be deemed irrevocably to have waived such           entitlement.

13.        
Data Privacy. Optionee hereby explicitly and unambiguously consents to the
          collection, use and transfer, in electronic or other form, of Optionees
          personal data as described in this document by and among, as applicable,
          Optionees employer and Company and its Subsidiaries for the exclusive
          purpose of implementing, administering and managing Optionees
          participation in the Plan. Optionee understands that Company and Optionees
          employer hold certain personal information about Optionee, including, but not
          limited to, Optionees name, home address and telephone number, date of
          birth, social insurance number or other identification number, salary,
          nationality, job title, any shares of stock or directorships held in Company,
          details of all options or any other entitlement to shares of stock awarded,
          canceled, exercised, vested, unvested or outstanding in Optionees favor,
          for the purpose of implementing, administering and managing the Plan           (Data).
Optionee understands that Data may be transferred to any           third parties
assisting in the implementation, administration and management of           the Plan,
that these recipients may be located in Optionees country, or           elsewhere,
and that the recipients country may have different data privacy           laws and
protections than Optionees country. Optionee authorizes the           recipients to
receive, possess, use, retain and transfer the Data, in electronic           or other
form, for the purposes of implementing, administering and managing           Optionees
participation in the Plan, including any requisite transfer of           such Data as may
be required to a broker or other third party with whom Optionee           deposits any
shares of stock acquired upon exercise of the Option. Optionee           understands that
Data will be held only as long as is necessary to implement,           administer and
manage Optionees participation in the Plan. Optionee           understands that
Optionee may, at any time, view Data, request additional           information about the
storage and processing of Data, require any necessary           amendments to Data or
withdraw the consents herein by contacting in writing           Optionees local
human resources representative. Optionee understands that           withdrawal of consent
may affect Optionees ability to exercise or realize           benefits from the
Option.

14.        
Change in Control. In the event of a Change in Control, this Option shall
          automatically become exercisable in full when and if, within twenty-four (24)
          months after a Change in Control, (i) the Optionee is involuntarily terminated
          as an Employee by the Company or a Subsidiary without Cause or (ii) the
Optionee           voluntarily resigns as an Employee of the Company or a Subsidiary for
Good           Reason.

15.        
No Restriction on Right of Company to Effect Corporate Changes. The Award           Document
shall not affect or restrict in any way the right or power of the           Company or
the stockholders of the Company to make or authorize any adjustment,
          recapitalization, reorganization or other change in the Companys capital
          structure or its business, any merger or consolidation of the Company, any
          issuance of stock or of stock options, warrants or rights to purchase stock or
          of bonds, debentures, preferred or prior preference stocks whose rights are
          superior to or affect the Common Stock or the rights thereof or which are
          convertible into or exchangeable for Common Stock, or the dissolution or
          liquidation of the Company, or any sale or transfer of all or any part of its
          assets or business, or any other corporate act or proceeding, whether of a
          similar character or otherwise.

16.                  Venue.
All disputes, controversies, claims, actions or causes of action arising           out of
this Award Document between the parties hereto shall be brought, heard           and
adjudicated by the state and federal courts of the State of California, with
          venue in the County of Santa Clara. Each of the parties hereto hereby consents
          to personal jurisdiction by the courts of the State of California in connection
          with any such dispute, controversy, claim, action or cause of action, and each
          of the parties hereto consents to service of process by any means authorized by
          federal law or the law of the State of California, as applicable.

17.        
Entire Agreement; Governing Law. The Plan, the Notice and this Option Agreement
          constitute the entire agreement of the parties with respect to the subject
          matter hereof and supersede in their entirety all prior undertakings and
          agreements of the Company and Optionee with respect to the subject matter
          hereof, and except as provided in Section 16 of the Plan, may not be modified
          adversely to the Optionees interest except by means of a writing signed
by           the Company and Optionee. This Option Agreement is governed by the internal
          substantive laws, but not the choice of law rules, of the State of Delaware.

---

NOTICE OF STOCK
OPTION GRANTForm for Employee New
Hires and Promotions

Optionee:        <<first>> <<middle>> <<last>>

The Compensation and Nominating
Committee of the Board of Directors of MIPS Technologies, Inc. (the Company),
has awarded you an option (the Option) effective as of the Date of Grant set
forth below to purchase the number of shares of the Companys common stock (the
Common Stock) set forth below under the MIPS Technologies, Inc. 1998 Long-Term
Incentive Plan (the Plan), subject to the terms and conditions of the Plan and
this Award Document, which is comprised of this Notice of Stock Option Grant and the
attached Stock Option Agreement.

Summary of Option Terms

|                           |  |               
|-------------------------- |  | --------------
|Option Grant Number:       |  | <<grantno>>   
|Date of Grant:             |  | <<grantdate>> 
|Type of Option:            |  | <<type>>      
|Exercise Price per Share:  |  | <<price>>     
|Number of Shares Granted:  |  | <<shares>>    
|Vesting Commencement Date: |  | <<vestbase>>  
|Expiration Date:           |  | <<expiration>>

Vesting Schedule: Twenty-four percent
(24%) of the shares subject to this Option shall vest twelve (12) months after the Vesting
Commencement Date, and two percent (2%) of the shares subject to this Option shall vest on
each monthly anniversary of the Vesting Commencement Date thereafter, subject to the
Optionee continuing to be an employee or consultant unless otherwise provided in this
Award Document.

The actual vesting dates and vesting
periods for this Option are reflected below:

| | Total Shares Vesting
in Period | Vesting Frequency | Period End
Date |           
| | ------------------------------ | ----------------- | --------------- | ----------
| |                                | <<shares1>>       |                 | <<vtype1>>
| |                                | <<shares2>>       |                 | <<vtype2>>
| |                                | <<shares3>>       |                 | <<vtype3>>
| |                                | <<shares4>>       |                 | <<vtype4>>
| |                                | <<shares5>>       |                 | <<vtype5>>
| |                                | <<shares6>>       |                 | <<vtype6>>

By your signature and the signature
of the Companys representative below, you and the Company agree that this Option is
granted under and governed by the terms and conditions of the Plan and this Award
Document, that this Option is granted for no consideration other than your services and
your agreements set forth in this Award Document. Optionee hereby agrees to comply with
the terms and conditions of the Plan and this Award Document and accepts as binding,
conclusive and final all decisions or interpretations of the Committee upon any questions
relating to the Plan and/or this Award Document.

|                                                 |  |                                                 
|------------------------------------------------ |  | ------------------------------------------------
|MIPS TECHNOLOGIES, INC                           |  | OPTIONEE                                        
|                                                 |  |                                                 
|By:_____________________________________________ |  | By:_____________________________________________
|Name:                                            |  |                                                 
|Date:                                            |  | Date:                                           

Please return one fully executed
original of this Award Document to the Stock Administration Department, Attention:
_________________. The copy is for your files.

---

NOTICE OF STOCK OPTION
GRANT Form
for Employee Renewals

Optionee:         <<first>> <<middle>> <<last>>

The Compensation Committee of the
Board of Directors of MIPS Technologies, Inc. (the "Company"), has awarded you an option
(the "Option") effective as of the Date of Grant set forth below to purchase the number
of shares of the Company's common stock (the "Common Stock") set forth below under the
MIPS Technologies, Inc. 1998 Long-Term Incentive Plan (the "Plan"), subject to the terms
and conditions of the Plan and this Award Document, which is comprised of this Notice of
Stock Option Grant and the attached Stock Option Agreement.

Summary of Option Terms

|                           |  |               
|-------------------------- |  | --------------
|Option Grant Number:       |  | <<grantno>>   
|Date of Grant:             |  | <<grantdate>> 
|Type of Option:            |  | <<type>>      
|Exercise Price per Share:  |  | <<price>>     
|Number of Shares Granted:  |  | <<shares>>    
|Vesting Commencement Date: |  | <<vestbase>>  
|Expiration Date:           |  | <<expiration>>

Vesting Schedule:  This option will
vest over fifty (50) months at a rate of two percent (2%) per month beginning with the
first monthly anniversary of the Vesting Commencement Date, subject to the Optionee
continuing to be an employee unless otherwise provided in this Award Document.

The actual vesting dates and vesting
periods for this Option are reflected below:

| | Total Shares Vesting
in Period | Vesting Frequency | Period End
Date |           
| | ------------------------------ | ----------------- | --------------- | ----------
| |                                | <<shares1>>       |                 | <<vtype1>>
| |                                | <<shares2>>       |                 | <<vtype2>>

By your signature and the signature
of the Companys representative below, you and the Company agree that this Option is
granted under and governed by the terms and conditions of the Plan and this Award
Document, that this Option is granted for no consideration other than your services and
your agreements set forth in this Award Document. Optionee hereby agrees to comply with
the terms and conditions of the Plan and this Award Document and accepts as binding,
conclusive and final all decisions or interpretations of the Committee upon any questions
relating to the Plan and/or this Award Document.

|                                                 |  |                                                 
|------------------------------------------------ |  | ------------------------------------------------
|MIPS TECHNOLOGIES, INC                           |  | OPTIONEE                                        
|                                                 |  |                                                 
|By:_____________________________________________ |  | By:_____________________________________________
|Name:                                            |  |                                                 
|Date:                                            |  | Date:                                           

Please return one fully executed
original of this Award Document to the Stock Administration Department, Attention:
_________________. The copy is for your files.