Document:

Employment Agreement

 Exhibit 10.11 
 EMPLOYMENT AGREEMENT 
 This Employment Agreement (this “Agreement”) is
made effective as of December 21, 2011, by and between STERLING SAVINGS BANK (“Sterling”) and DANIEL G. BYRNE (the “Executive”). 
 W I T N E S S E T H : 
 WHEREAS, the Executive has been providing services to
Sterling as Executive Vice President, Corporate Development Executive of Sterling, and Sterling desires to retain the Executive and the Executive is willing to continue to serve Sterling in such capacities and roles as is provided herein on the
terms and conditions set forth below; and 
 WHEREAS, the parties desire to enter into this Agreement, which is intended to
supersede an existing Employment Agreement, originally effective January 31, 2011, (the “Prior Agreement”). 

NOW THEREFORE, in consideration of the mutual covenants herein contained, and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows: 
 1. Employment. Sterling
agrees to continue to employ the Executive, and the Executive agrees to continue to be employed by Sterling, upon the terms and conditions hereinafter provided. 
 2. Position and Duties. Sterling agrees to employ the Executive to serve as the Corporate Development Executive, and the Executive will have such powers and duties as are commensurate with such
position and as may be conferred upon him or her by the Board of Directors of Sterling (the “Board”). Executive shall faithfully perform such duties and shall do nothing inconsistent with his or her duties to Sterling and Sterling Savings
Bank (the “Bank”). Except for illness or incapacity and reasonable vacation periods as shall be consistent with Sterling and the Bank’s policies for senior officers, the Executive shall devote all of his or her business time,
attention, skill and efforts exclusively to the business and affairs of Sterling and its subsidiaries. 

  
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 3. Compensation. For all services rendered by the Executive in any capacity required
hereunder, including, without limitation, services as an officer, director, or member of any committee of Sterling, or any subsidiary or division thereof, the Executive shall be compensated as follows: 

(a) Base Salary. Sterling shall pay the Executive a fixed minimum salary of $235,000 per annum (such amount or such
adjusted annual amount as is paid from time to time pursuant to the terms hereof being referred to as the “Base Salary”). The Base Salary shall be subject to such periodic review (which shall occur at least annually) and adjustment as
deemed appropriate in accordance with Sterling and the Bank’s customary procedures and practices regarding the salaries of senior officers. The Base Salary shall be payable in accordance with the customary payroll practices of Sterling, but in
no event less frequently than monthly. 
 (b) Other Benefits. The Executive shall be entitled to participate in
all compensation or employee benefit plans or programs, and to receive all benefits, perquisites and emoluments, for which any salaried employees of Sterling are eligible under any plan or program now or hereafter established and maintained by
Sterling for senior officers, to the fullest extent permissible under the general terms and provisions of such plans or programs and in accordance with the provisions thereof, including group hospitalization, health, dental care, life or other
insurance, tax-qualified pension, savings, thrift, 401(k) and profit-sharing plans, termination pay programs, sick-leave plans, travel or accident insurance, salary continuation plans, disability insurance, automobile allowance or automobile lease
plans, and executive contingent compensation plans, including, without limitation, stock option or incentive plan(s) then in effect. 
 4. Termination of Employment. 
 (a) Termination. Either
Sterling or Executive may terminate Executive’s employment at any time in such party’s sole discretion. Except as expressly provided in this Agreement, upon termination of employment Sterling shall have no liability to pay any further
compensation or any other benefit or sum whatsoever to Executive. 
 (b) In the event that the Executive’s
employment hereunder terminates, earned but unpaid Base Salary as of the date of Termination of Employment shall be payable in full. 
 (i) Except as provided herein for a Without Cause Termination and Termination Upon a Change in Control, no other payments shall be made, or benefits provided, by Sterling under this Agreement except for
vested stock options and other incentive awards held by the Executive pursuant to the terms of the grant(s) thereof, vested benefits payable under the 

  
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terms of the nonqualified deferred compensation plans then in effect in which Executive participates, and any other vested benefits that the Executive is entitled to receive under the terms of
employee benefit programs maintained by Sterling or its subsidiaries for its employees. 

(ii) Without Cause Termination. In the event the Executive’s employment hereunder terminates due
to a Without Cause Termination Sterling shall, as severance pay, subject to the provisions of Section 5 below and to Executive’s agreement without revocation to a release and nondisclosure agreement, pay Executive the sum of Three Hundred
And Fifty Thousand Dollars ($350,000), in two equal installments, the first payable after the expiration of any applicable revocation period for such release agreement and the second payable within the first ten days of the first month of the year
following the year of termination; provided however, that all payments under this paragraph shall be made no later than
2  1/2 months after the end of the taxable year
in which the termination occurs. 
 (c) Payments for Termination Upon a Change in Control. Within twenty
days of the Executive’s Termination Upon a Change in Control, Sterling shall pay to the Executive in a single payment in cash and/or provide to the Executive, as applicable, the following: 

(i) the Executive’s earned but unpaid Base Salary as of the date of Termination of Employment; 

(ii) the benefits, if any, to which the Executive is entitled as a former employee under the employee benefit programs and
compensation plans and programs maintained for the benefit of Sterling’s officers and employees; 
 (iii) an
amount equal to two times Executive’s Annual Compensation; and 
 (iv) Options and Other Incentive Awards.
All stock options and other incentive awards held by the Executive shall become fully vested and exercisable. 

(d) Adjustment for Taxes. In the event that either Sterling’s independent public accountants or the Internal Revenue
Service determines that any payment, coverage, benefit or benefit acceleration provided to Executive, whether specifically provided for in this Agreement or otherwise, is subject to the excise tax imposed by Section 4999 (or any successor
provision) (“Section 4999”) of the Internal Revenue Code of 1986, as amended (the “Code”), Sterling, within 30 days thereafter, shall pay to Executive, in addition to any other payment or benefit due and owing hereunder, an
amount determined by multiplying the rate of excise tax 

  
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then imposed by Section 4999 by the amount of the “excess parachute payment” (as defined in Section 280G of the Code) received by Executive (determined without regard to any
payments made to the Executive pursuant to this paragraph) and dividing the product so obtained by the amount obtained by subtracting the aggregate local, state and Federal income tax rate applicable to the receipt by Executive of the “excess
parachute payment” (taking into account the deductibility for Federal income tax purposes of the payment of state and local income taxes thereon) from the amount obtained by subtracting from 1.00 the rate of excise tax then imposed by
Section 4999 of the Code, it being Sterling’s intention that the Executive’s net after tax position be identical to that which would have obtained had Sections 280G and 4999 not been part of the Code. 

(e) If the actual excise tax imposed by Section 4999 of the Code is less than the amount that was taken into account
in determining the adjustment for taxes under Section 4(d), Executive shall repay at the time that the amount of the reduced excise tax is finally determined the portion of the adjustment for taxes under Section 4(d) attributable to that
reduction (plus the portion attributable to the excise tax, FICA tax and federal, state and local income tax imposed on the portion of the adjustment being repaid by Executive, to the extent the repayment results in a reduction in or refund of
excise tax, FICA tax or federal, state or local income tax), plus interest on the amount of the repayment at the rate provided in Section 1274(b)(2)(B) of the Code. If the actual excise tax imposed is more than the amount that was taken into
account in determining the amount of the adjustment under Section 4(d), Sterling shall make an additional payment in respect of such excess (plus interest at the rate provided in Section 1274(b)(2)(B) of the Code) at the time that the
amount of the excess is finally determined. 
 (f) In the event that, on or after the occurrence of a Change in
Control, Sterling fails to make any payment or provide any benefit to Executive arising out of or relating in any way to this Agreement or to the Executive’s employment by Sterling (collectively, “Employment Rights”), then Sterling
shall pay to the Executive and reimburse the Executive for the Executive’s full costs (including, without limitation, the fees and expenses of the Executive’s attorneys and court and related costs) of enforcing the Executive’s
Employment Rights. In addition, if the enforceability of this Agreement or the payment of any benefit to the Executive hereunder is disputed by Sterling on or after the occurrence of a Change in Control, then the

  
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Term of this Agreement shall be extended for the period of the dispute in the event of a final judicial determination that the Executive is entitled to at least fifty percent (in dollar amount)
of the benefits that Executive claimed from, and that were disputed by, Sterling. 
 (g) Definitions. For
purposes of this Agreement, the following terms have the following meanings: 
 (i) Executive’s “Annual
Compensation” shall include (A) the greater of: (1) the total of Executive’s annual Base Salary, at the highest annual rate during the last three years of employment, and any target bonus for the calendar year in which the
termination occurs (if established before the termination), or (2) Executive’s annual Base Salary, at the highest annual rate during the last three years of employment, and any actual bonus for the prior calendar year (annualized if
Executive was not employed by Sterling for the entire previous calendar year) or (3) Executive’s annual Base Salary, at the highest annual rate during the last three years of employment, and any actual bonus for the calendar year prior to
the Change in Control (annualized if Executive was not employed by Sterling for the entire previous calendar year); and (B) the amount of the contributions made or anticipated to have been made by Sterling on Executive’s behalf to
Sterling’s benefit plans for the calendar year in which the termination occurs, including without limitation contributions to pension and welfare plans maintained by Sterling for its employees. Annual Compensation shall not include the value of
any stock options or restricted stock granted to Executive. 
 (ii) A “Change in Control” shall be
deemed to have occurred at such time as the occurrence of a “change in ownership,” a “change in effective control” or a “change in the ownership of a substantial portion of the assets” of a corporation, as determined in
accordance with this Section 4(g)(ii). 
 (A) A “change in ownership” of Sterling shall occur on
the date on which any one person, or more than one person acting as a group, acquires ownership of stock of Sterling that, together with stock held by such person or group, constitutes more than 50% of the total fair market value or total voting
power of the stock of Sterling, as determined in accordance with Treas. Reg. §1.409A-3(i)(5)(v). If a person or group is considered either to own more than 50% of the total fair market value or total voting power of the stock of Sterling, or to
have effective control of such corporation within the meaning of part (B) of this Section, and such person or group acquires additional stock of such corporation, the acquisition of additional stock by such person or group shall not be
considered to cause a “change in the ownership” of Sterling. 

  
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 (B) A “change in effective control” of Sterling shall occur only
on either of the following dates: 
 (1) The date on which any one person, or more than one person acting as a
group, acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such person or persons) ownership of stock of Sterling possessing 30% or more of the total voting power of the stock of Sterling, as
determined in accordance with Treas. Reg. §1.409A-3(i)(5)(vi). If a person or group is considered to possess 30% or more of the total voting power of the stock of Sterling, and such person or group acquires additional stock of Sterling, the
acquisition of additional stock by such person or group shall not be considered to cause a “change in effective control” of Sterling, or 
 (2) The date on which a majority of the members of Sterling’s Board is replaced during any 12-month period by directors whose appointment or election is not endorsed by a majority of the members of
the Board before the date of the appointment or election, as determined in accordance with Treas. Reg. §1.409A-3(i)(5)(vi). 
 (3) A “change in the ownership of a substantial portion of the assets” of Sterling shall occur on the date on which any one person, or more than one person acting as a group, acquires (or has
acquired during the 12-month period ending on the date of the most recent acquisition by such person or persons) assets from Sterling that have a total gross fair market value equal to more than 40% of the total gross fair market value of all for
the assets of Sterling immediately before such acquisition or acquisitions, as determined in accordance with Treas. Reg. §1.409A-3(i)(5)(vii). A transfer of assets shall not be treated as a “change in the ownership of a substantial portion
of the assets” when such transfer is made to an entity that is controlled by the shareholders of the transferor corporation, as determined in accordance with Treas. Reg. §1.409A-3(i)(5)(vii)(B). 

(iii) The term “Constructive Discharge” means a termination of the Executive’s employment by the Executive
following the occurrence of any of the following events: 
 (A) Inferior Duties. The assignment of duties
by Sterling to Executive, without his or her express written consent, that (i) are inferior to Executive’s duties on the Effective Date in any material respect or (ii) result in Executive having inconsequential authority or
responsibility compared to the authority or responsibility he or she had on the Effective Date. 

  
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 (B) Base Compensation Reduction. A material reduction by Sterling of
Executive’s Base Salary. 
 (C) Relocation. Executive, without his or her written consent, is
required by him or her employment to perform a substantial part of his or her duties at one or more locations more than fifty miles distant from Spokane, Washington. 

(D) Breach. A material breach by Sterling of any provision of this Agreement. 

If an event constituting Constructive Discharge has occurred without the Executive’s consent, the Executive’s
termination for Constructive Discharge must occur within two years of the first occurrence of such event. The Executive shall give notice to Sterling, in accordance with Section 8, of the existence of an event constituting Constructive
Discharge within 90 days of the initial occurrence of such event, and Sterling will have 60 days to cure or otherwise obtain Executive’s express written consent to the occurrence or continuance of such event. If Executive’s employment is
terminated for Constructive Discharge, it will be treated as an involuntary separation from service under §409A. 
 (iv) The term “Termination for Cause” means: 
 (A) the
continued failure of Executive to substantially perform the Executive’s duties with Sterling or one of its subsidiaries (other than any such failure resulting from incapacity due to physical or mental illness), after a written demand for
substantial performance is delivered to the Executive by the Board, which specifically identifies the manner in which the Board believes that the Executive has not substantially performed the Executive’s duties, or 

(B) the willful engaging by the Executive in illegal conduct that is materially and demonstrably injurious to Sterling or
any of its subsidiaries, or 
 (C) conviction of a felony involving fraud, dishonesty or moral turpitude, or a
guilty or nolo contendere plea by Executive with respect thereto, or 
 (D) violation of the provisions of
Section 5 herein. 

  
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 For purposes of this provision, no act or failure to act on the part of
Executive shall be considered “willful” unless it is done, or omitted to be done, by the Executive in bad faith and without reasonable belief that the Executive’s action or omission was in the best interest of Sterling or its
subsidiaries. Any act or failure to act, based upon authority given pursuant to a resolution duly adopted by the Board or the Board of Directors of the Bank or based upon the advice of counsel for Sterling shall be conclusively presumed to be done,
or omitted to be done, by the Executive in good faith and in the best interests of Sterling and its subsidiaries. The cessation of employment of the Executive shall not be deemed to be a Termination for Cause unless and until there shall have been
delivered to the Executive a copy of a resolution duly adopted by the affirmative vote of not less than two-thirds of the entire membership of the Board at a meeting of the Board called and held for such purpose (after reasonable notice is provided
to Executive and the Executive is given an opportunity, together with counsel, to be heard before the Board), finding that, in the good faith opinion of the Board, the Executive is guilty of the conduct described in subparagraph (A), (B) or
(D) above, and specifying the particulars thereof in detail. 
 (v) “Termination of Employment”
shall mean the termination of the Executive’s actual employment with Sterling, which constitutes a separation from service as defined under §409A. 
 (vi) “Termination Upon a Change in Control” shall mean a Termination of Employment upon or within twenty-four months after a Change in Control by Sterling, or its successors, without Cause, or
by Executive due to a Constructive Discharge, as described under Section 4(g)(iii) hereof. 
 (vii)
“Without Cause Termination” shall mean a termination of the Executive’s employment by Sterling, for a reason other than disability, retirement, or Termination for Cause. 

5. Other Duties of Executive During and After Term. 

(a) Confidential Information. The Executive recognizes and acknowledges that all information pertaining to the affairs,
business, clients, or customers of Sterling or any of its subsidiaries (any or all of such entities being hereinafter referred to as the “Business”), as such information may exist from time to time, other than information that Sterling has
previously made publicly available or which is in the public domain, is confidential information and is a 

  
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unique and valuable asset of the Business, access to and knowledge of which are essential to the performance of the Executive’s duties under this Agreement. The Executive shall not, except
to the extent reasonably necessary in the performance of his or her duties under this Agreement, divulge to any person, firm, association, corporation, or governmental agency, any information concerning the affairs, business, clients, or customers
of the Business (except such information as is required by law to be divulged to a government agency or pursuant to lawful process), or make use of any such information for his or her own purposes or for the benefit of any person, firm, association
or corporation (except the Business) and shall use his or her reasonable best efforts to prevent the disclosure of any such information by others. All records, memoranda, letters, books, papers, reports, accountings, experience or other data, and
other records and documents relating to the Business, whether made by the Executive or otherwise coming into his or her possession, are confidential information and are, shall be, and shall remain the property of the Business. No copies thereof
shall be made which are not retained by the Business, and the Executive agrees, on termination of his or her employment or on demand of Sterling, to deliver the same to Sterling. 

(b) Non-Solicitation. For a period of one year following Executive’s Termination of Employment (the
“Non-Solicitation Period”), the Executive will not solicit any customer or client of Sterling or its subsidiaries for the account of any corporation, partnership, sole proprietorship or other entity engaged in competition with Sterling or
any of its subsidiaries (a “Competitor”). The Executive also agrees not to act on behalf of any Competitor to solicit employees of Sterling or its subsidiaries for new employment or otherwise interfere with the relationship between
Sterling or its subsidiaries and their employees during the Non-Solicitation Period. In addition, if the Executive obtains non-competitive employment during the Non-Solicitation Period, for such period the Executive agrees not to solicit employees
of Sterling or its subsidiaries for new employment without the prior written consent of Sterling. An entity shall be considered to be “engaged in competition” if such entity is, or is a holding company for, a bank, savings and loan
association or other financial services business engaged in a business that competes with Sterling in the States of Washington, Oregon, Idaho, Montana, or California. Executive acknowledges the receipt and sufficiency of specific consideration for
the agreements in this Section 5. 

  
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 (c) Remedies. Sterling’s obligation to make payments, deliver shares of
stock or provide for any benefits under this Agreement (except to the extent vested or exercisable prior to Executive’s Termination of Employment) shall cease upon a violation of the preceding provisions of this section. Executive acknowledges
that there would be no adequate remedy at law or in damages to compensate Sterling for any violation of this Section 5, and agrees that Sterling shall be entitled to injunctive relief requiring specific performance by Executive of this
Section 5 without the necessity of proving actual damages or the posting of a bond, and Executive consents to the entry thereof. 
 (d) Survival. The provisions of this Section 5 shall: (a) survive the termination of this Agreement, and continue throughout the duration of the Executive’s employment with Sterling, except
as amended or modified by written agreement of the parties; and (b) survive the Executive’s Termination of Employment with Sterling. The running of the Non-Solicitation Period under Section 5(b) shall be tolled between the time any
controversy with respect to this Section 5 is filed with a court or arbitrator and the decision of the judge, jury or arbitrator on said controversy. 
 (e) Modification of Terms. If any restriction in this Section 5 is finally adjudicated by a court of competent jurisdiction to exceed the time, geographic, service or other limitations permitted by
applicable law in any jurisdiction, such restriction may be modified and narrowed by a court to the maximum time, geographic, service or other limitations permitted by applicable law so as to preserve and protect Sterling’s legitimate business
interest, without negating or impairing any other restrictions or undertaking set forth in the Agreement. 
 (f)
Application. The provisions of Sections 5(b) shall be inapplicable if the Executive’s Termination of Employment is due to: disability; or a Termination Upon a Change in Control. 

6. Withholding Taxes. Sterling may directly or indirectly withhold from any payments made under this Agreement all Federal, state,
city or other taxes as shall be required pursuant to any law or governmental regulation or ruling. 
 7. Consolidation,
Merger, or Sale of Assets. Nothing in this Agreement shall preclude Sterling from consolidating or merging into or with, or transferring all or substantially all of its assets to, another corporation that assumes this Agreement and all
obligations and undertakings of Sterling hereunder. Upon such a consolidation, merger or transfer of assets, the term “Sterling” as used herein shall mean such other corporation and this Agreement shall continue in full force and effect.

  
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 8. Notices. All notices, requests, demands and other communications required or
permitted hereunder shall be given in writing and shall be deemed to have been duly given if delivered or mailed, postage prepaid, by same day or overnight mail as follows: 

 

	 	(a)	To Sterling: 

 111 North Wall
Street 
 Spokane, WA 99201 
 Attention: Chief Executive Officer 
 With a copy to: 

111 North Wall Street 
 Spokane, WA 99201 
 Attention: General Counsel 

 

	 	(b)	To the Executive: 

At his or her regular office and to his or her primary residence or to such other address as either party shall from
time-to-time specify in writing to the other. 
 9. No Attachment. Except as required by law, no right to receive
payments under this Agreement shall be subject to anticipation, commutation, alienation, sale, assignment, encumbrance, charge, pledge or hypothecation, or to execution, attachment, levy or similar process, or assignment by operation of law, and any
attempt, voluntary or involuntary, to effect any such action shall be null, void and of no effect; provided, however, that nothing in this Section 9 shall preclude the assumption of such rights by executors, administrators or other legal
representatives of the Executive or his or her estate and their assigning any rights hereunder to the person or persons entitled thereto. 
 10. No Mitigation. The Executive shall not be required to mitigate the amount of any payment or benefit provided for in this Agreement by seeking other employment or otherwise, nor shall the amount
of any payment or benefit provided for in this Agreement be reduced by any compensation earned by other employment or otherwise, except as provided herein. 
 11. Source of Payment. All payments provided for under this Agreement shall be paid in cash from the general funds of Sterling or the Bank. To the extent that any person acquires a right to receive
payments from Sterling hereunder, such right, without prejudice to rights that employees may have, shall be no greater than the right of an unsecured creditor of Sterling. 

  
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 12. Further Action. Sterling and Executive shall perform all acts and execute all
documents as may be reasonably necessary to effect performance of this Agreement by Sterling. In the event Sterling’s Deferred Compensation Plan, the 1992 Stock Option Plan, the 1998 Long-Term Incentive Plan, the 2001 Long-Term Incentive Plan,
the 2003 Long-Term Incentive Plan, the 2007 Long-Term Incentive Plan, the Sterling Savings Bank Deferred Compensation Plan, and the Supplemental Executive Retirement Plan, or plans which are substantially similar to such plans are not maintained,
Sterling shall provide the Executive with compensation which is substantially similar in financial effect to the compensation which would otherwise have been provided through such plans. References herein to deferred compensation, stock option or
incentive plan(s) and any other benefit plans shall be deemed to include all successor plans. Nothing in this Agreement shall be deemed to be a modification of Sterling’s stock option or incentive plans. 

13. Severability. If any provision of this Agreement or application thereof to anyone or under any circumstances is finally
adjudicated by a court of competent jurisdiction to be invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall not affect any other provision or application and shall not invalidate or render unenforceable such
provision or application in any other jurisdiction. 
 14. Contents of Agreement. This Agreement supersedes all prior
agreements and sets forth the entire understanding among the parties hereto with respect to the subject matter hereof and cannot be changed, modified, extended or terminated except upon written amendment approved by the parties hereto. 

15. Acknowledgement of Consent. For purposes of Constructive Discharge, the execution of this Agreement shall constitute
Executive’s express written consent, in accordance with Section 5(d)(ii) of the Prior Agreement, to the changes in duties, reduction in base compensation and modifications to the other terms and conditions of employment provided herein.

 16. Governing Law. The validity, interpretation, performance, and enforcement of this Agreement shall be governed by
the laws of the State of Washington without giving effect to that body of laws pertaining to conflict of laws and the Executive consents to the jurisdiction of the state and federal courts of Washington in any dispute arising under this Agreement.

  
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 17. Representations. The Executive hereby represents and warrants that he or she has
the legal capacity to execute and perform this Agreement, that it is a valid and binding agreement against him or her according to its terms, and that its execution and performance by him or her does not and will not violate the terms of any
existing agreement or understanding to which the Executive is a party. In addition, the Executive represents and warrants that he or she knows of no reason why he or she is not physically capable of performing his or her obligations under this
Agreement in accordance with its terms. 
 18. Miscellaneous. All section headings are for convenience only. This
Agreement may be executed in any number of counterparts, each of which when executed shall be deemed to be an original and all of which together shall be deemed to be one and the same instrument. It shall not be necessary in making proof of this
Agreement or any counterpart hereof to produce or account for any of the other counterparts. 
 19. Compliance with
§409A. This Agreement is intended to constitute an enforceable contract for the payment of compensation, severance and certain other benefits. The Agreement is not intended to constitute a “nonqualified deferred compensation plan”
within the meaning of §409A. Notwithstanding the foregoing, in the event this Agreement and/or any benefit paid to the Executive hereunder is deemed to be subject to §409A, this Agreement shall be interpreted and, as reasonably necessary
in the discretion of the Board, may be amended to bring this Agreement and/or any such benefit into compliance with §409A, without reducing the amounts of any benefits due to the Executive hereunder. 

20. Compliance with TARP. 
 (a) Notwithstanding anything to the contrary contained in this Agreement, to the extent necessary to be in compliance with the Capital Purchase Program (the “CPP”) provided under the Troubled
Asset Relief Program (“TARP”) and for so long as the United States Department of the Treasury (the “Treasury”) is deemed to hold any equity or debt securities of Sterling (such period, the “TARP Period”), Sterling and
Executive agree to be bound by the executive compensation and corporate governance requirements of Section 111 of the Emergency Economic Stabilization Act of 2008, as amended, and any regulations, guidance or interpretations that may from time
to time be promulgated thereunder (“EESA”); and to the 

  
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extent that Executive is subject to Section 111 of EESA, then any payment of any kind provided for by, or accrued with respect to, the Executive must comply with EESA, and this Agreement
shall be interpreted or reformed to so comply. If the making of any payment pursuant to, or accrued with respect to, this Agreement would violate EESA or other applicable state or federal laws, or if the making of such payment, or accrual, may in
the judgment of Sterling limit or adversely impact the ability of Sterling to participate in, or the terms of Sterling’s participation in, the TARP, the CPP, or to qualify for any other relief under EESA, the Executive shall be deemed to have
waived his rights to such payments or accruals. If applicable, the Executive will grant to the Treasury (or other body of the U.S. government) and to Sterling a waiver in a form acceptable to the Treasury (or other applicable body of the U.S.
government) and Sterling releasing the Treasury (or such other body) and Sterling from any claims that Executive may otherwise have as a result of the issuance of any regulations, guidance or interpretations that adversely modify the terms of this
Agreement that would not otherwise comply with the executive compensation and corporate governance requirements of EESA, other applicable state or federal laws, or any securities purchase agreement or other agreement entered into between the
Sterling and the Treasury (or other body) pursuant to EESA. Specifically, and without limiting the foregoing, Executive and Sterling hereby agree that, during the TARP Period: 

(i) For so long as Executive is subject to the prohibition on golden parachute payments under Section 111 of EESA, to
the extent any payment or acceleration of vesting described herein constitutes a “golden parachute payment” under Section 111 of EESA, Executive shall not be entitled to such payment or acceleration of vesting. 

(ii) Sterling shall be entitled to the return of, and Executive agrees to return, any bonus or incentive compensation paid
to the Executive that is based on statements of earnings, gains, or other criteria that are later proven to be materially inaccurate. 
 (iii) None of the incentives under this Agreement provide the Executive with any incentives to take unnecessary and excessive risks that threaten the value of Sterling. 

(b) Offset. Unless otherwise paid back to Sterling by Executive, Sterling shall have the right to offset any
payments that must be returned to Sterling under Section 20(a)(ii) against any current amounts due to the Executive, including, but not limited to, salary, incentive compensation, equity incentive awards, severance, deferred compensation or any
other funds due to the Executive from Sterling, and by executing this Agreement, Executive expressly acknowledges and agrees to such offset. 
 [Signature Page Follows] 

  
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 IN WITNESS WHEREOF, and intending to be legally bound, Sterling has caused this Agreement to
be executed by its duly authorized representatives and the Executive has signed this Agreement, all as of the first date above written. 
  

			
	STERLING SAVINGS BANK
		
	BY:	 	/s/ J. GREGORY SEIBLY
		 	J. GREGORY SEIBLY
		 	Chief Executive Officer
	
	EXECUTIVE
	
	/s/ DANIEL G. BYRNE
	DANIEL G. BYRNE

 [Signature Page to Employment Agreement] 

  
 15Amended and Restated Executive Employment Agreement

 Exhibit 10.22 
 AMENDED AND RESTATED 
 EXECUTIVE EMPLOYMENT AGREEMENT 

This Amended and Restated Employment Agreement (this “Agreement”), is entered into by and between PMC-Sierra, Inc. (the “Company”)
and Gregory S. Lang (hereinafter “Executive”) to be effective as of February 22, 2012 (the “Effective Date”). 

WHEREAS, Executive has been serving as the Company’s President and Chief Executive Officer since April 28, 2008 (the “Start Date”).
Company and Executive desire to continue the employment arrangement on substantially the same terms. 
 WHEREAS, the Company desires to amend
and restate this Agreement to add a healthcare benefit in connection with a Separation from Service (as defined in Section 11(e) below) in connection with a Change of Control (as defined in Section 11(b) below) consistent with similar
benefits provided to other executive officers. 
 NOW THEREFORE, for good and sufficient consideration, it is hereby agreed as follows:

 1. Employment Period and Term of Agreement. Company agrees to employ Executive, and Executive hereby agrees to be employed by Company,
subject to the terms and conditions of this Agreement. The term of this Agreement shall be three years, commencing on the Effective Date and continuing until April 27, 2014, unless earlier terminated as provided herein (the “Employment
Period”). Not later than 90 days before the expiration of the Employment Period, Company and Executive shall meet and confer regarding any extension of the Employment Period or additional term of agreement. 

2. Position and Duties. 
 (a) Executive
will serve as President and Chief Executive Officer (“CEO”) of the Company based at the Company’s headquarters in Sunnyvale, CA and will report directly to the Company’s Board of Directors (the “Board”). 

3. Compensation. 
 (a) Base
Salary. During the Employment Period, Executive shall receive an annual gross base salary paid bi-weekly in accordance with the Company’s normal payroll procedures (“Base Salary”). Executive’s Base Salary at the Effective
Date is $660,000. The amount of Base Salary shall be reviewed annually and increased by such amount, if any, as may be determined by the Board or its Compensation Committee, as appropriate. 
 (b) Bonus. Cash incentive bonuses are administered through the Company’s Short Term Incentive Program (“STIP”) which is designed to reward performance against short-term
corporate and individual goals with a cash bonus. The elements of STIP are further described in the Company’s proxy statement. As of the Effective Date, Executive is eligible for 2011 STIP as of January 1, 2011 at the target award level of
100 % of Base Salary. Any individual objectives against which Executive is to be measured apart from achievement of the Company’s annual plan will be reviewed in advance with Executive but will be finally

  
 1 

 
determined at the sole discretion of the Board or the Compensation Committee. The Board and its Compensation Committee reserve the right to change STIP during the Employment Period as deemed
appropriate. Earned STIP payments for the first half of the year will be paid within two and one-half months of the end of the first six (6)-month STIP period. STIP payments earned in the second half of the year will be paid within two and one-half
months of the end of the STIP period but no later than March 15 of the year following the year of performance. 
 4. Equity.

 (a) Equity grants. The Company considers granting equity awards as part of its annual performance review process, which
currently occurs in the first calendar quarter. Any future equity awards to Executive are purely discretionary and are subject to approval by the Compensation Committee. No representation is made with regard to the existence or price or other terms
of any future equity awards. In recognition for Executive’s service to the Company in 2010 and for expected performance in 2011: 
 (i) On
April 5, 2011, the Company granted Executive an option to purchase 426,000 shares of the Company’s common stock at a price per share equal to 100% of the fair market value per share of common stock on the option grant date; and 

(ii) On May 25, 2011, the Company will grant to Executive restricted stock units covering 94,000 shares of common stock. The vesting schedule and
other terms for this grant will be in accordance with the Company’s standard RSU grant agreements. 
 (b) Stock Ownership
Requirement. As part of its corporate governance initiatives, the Company has instituted stock ownership requirements for its executive officers and directors. Based on the current guidelines, Executive must hold an amount of the Company’s
common stock equal to 100% of his Base Salary by May 27, 2013 (the fifth anniversary of Executive’s initial grant of restricted stock units on May 27, 2008). In addition, shares obtained through option exercises, vesting of restricted
stock units and by participation in the Company’s Employee Stock Purchase Plan may be used to meet the above described ownership requirement. The Board reserves the right to change the stock ownership requirement in the future as it deems
appropriate. 
 5. Benefits. During the Employment Period, Executive shall be eligible to participate in: 

(a) Health and Welfare: medical, dental, life and disability insurance, and 401(k) plans in accordance with their terms and conditions.
Executive shall be required to pay the employee’s contribution for the specific benefits he selects for himself and any other eligible dependents and for any excess or supplemental life or disability coverage for himself or his family. The
administration of benefits is within the Company’s sole discretion and benefits may be subject to change from time to time as deemed necessary by the Company. 

  
 2 

 (b) Vacation and Sick Leave: Five weeks of paid vacation per year which will be accrued in
accordance with the Company’s policies, including without limitation, caps on accrual. Executive will also receive sick leave and paid holidays in accordance with the Company’s standard policies which the Company may alter at any time in
the future. 
 (c) Tax and Immigration Services: Executive shall be required to travel frequently to the Company’s primary
sites, including among others, Burnaby, British Columbia. There may be tax and immigration consequences arising from this requirement. The Company shall provide Executive with tax consultation services which will include tax filing preparation if
Executive is required to file taxes in jurisdictions other than those in which Executive currently files. Executive is required to pay all employment related income taxes regardless of the jurisdiction in which taxes are owed. The Company will also
provide support obtaining any necessary visas. If, by virtue of travel on account of his employment with the Company, Executive becomes subject to taxation by any jurisdiction(s) outside the United States (any such jurisdiction, a “Non-U.S.
Jurisdiction”), such that the taxes that he is required to pay for any year are in excess of the taxes that he would have been required to pay had he not been subject to such non-U.S. taxation, then the Company shall provide Executive with a
payment (the “Equalization Payment”) such that after payment of all taxes (including any taxes imposed on the Equalization Payment), he is in the same after-tax position as if he had not been subject to such non-U.S. taxation. The
Equalization Payment shall be paid as soon as reasonably practicable following the submission by Executive of all information reasonably requested by the Company in order for it to calculate the amount of the Equalization Payment, and in any event
no later than the end of the calendar year immediately following the calendar year in which Executive remits the related taxes. 
 (d)
Expenses: Executive shall be entitled to reimbursement for all reasonable expenses incurred by Executive associated with the conduct of Company’s business in accordance with Company’s policies. Such reimbursements shall be subject
to the Company’s then-existing policies and procedures for reimbursement of business expenses, including timely submission of written requests for reimbursement, accompanied by supporting receipts. If such expense qualifies for reimbursement,
then the Company will reimburse Executive for that expense within thirty business days thereafter and in no event later than March 15 of the year following the year in which the expense was incurred. The amount of any expenses reimbursed
(including any relocation expenses) or in-kind-benefits in one year shall not affect the amount eligible for reimbursement or in-kind benefits in any subsequent year and Executive’s right to reimbursement of any such expenses or in-kind
benefits shall not be subject to liquidation or exchange for any other benefit. 
 (e) Employee Stock Purchase Plan (ESPP):
Executive may participate in the Company’s ESPP according to its terms and conditions. The Company reserves the right to alter or terminate ESPP benefits at any time in the future. 
 6. Indemnification. Effective as of the Start Date, the Company shall indemnify Executive in accordance with the terms and conditions of the Indemnification Agreement, attached as Exhibit A
to this Agreement and incorporated herein. Executive will also be a named insured on D&O liability insurance policies. 

  
 3 

 7. Termination of Employment. The Company may terminate Executive’s employment during the
Employment Period with or without Cause (as defined in Section 11(a) below). Executive may choose to terminate his employment with the Company because of a Constructive Termination (as defined in Section 11(d) below) or because the Company
has materially breached this Agreement and the Company has failed to cure the breach after receipt of written notice describing the breach and the intention to resign within 30 days if not cured (“Good Reason”). Unless Executive resigns
for Good Reason or a Constructive Termination, Executive shall not be entitled to any separation benefits other than Base Salary through the termination date, accrued and unpaid vacation, any reimbursements of previously submitted expenses and
return of contribution to ESPP, if participating. 
 8. Separation Benefits. If the Company terminates Executive’s employment
without Cause, or Executive terminates his employment by reason of a Constructive Termination (defined in Section 11(d) below), and provided there has not been a Change of Control and a Change of Control is not reasonably expected within the
next 60 days, and provided further that Executive signs the General Release provided in Exhibit B (the “Release”), as updated if necessary to comply with applicable laws and regulations, within 21 days (or such longer period as
required by law), following such termination and such Release becomes effective after the application of any revocation period, Executive shall be entitled to the following separation benefits: 

(a) a cash payment to be paid in accordance with Section 10 of this Agreement equal to the aggregate of: 

(i) one year of Executive’s then current Base Salary; 
 (ii) the amount of bonuses received by Executive under STIP (or any successor cash incentive program) for the last STIP periods totaling 12 months preceding the termination date; 

(iii) the cost of medical insurance and dental insurance coverage at the same coverage level as in effect as of Executive’s termination date for a
period of twelve (12) months following Executive’s termination date, based on the monthly COBRA costs of such coverage under the Company’s medical and dental plans pursuant to Section 4980B of the Code on the Executive’s
termination date (the “Healthcare Cost”); and 
 (b) acceleration in vesting by 18 months of all equity awards (options and restricted
stock units) that are outstanding and unvested as of Executive’s Separation from Service and twelve (12) months from Executive’s Separation from Service to exercise all options that are outstanding as of the Separation from Service,
or the remaining term of the option, whichever is shorter. After giving effect to the foregoing acceleration in vesting, all equity grants that are unvested as of the date of Separation from Service shall be immediately cancelled. 

  
 4 

 9. Change of Control Benefits. 
 (a) Separation from Service in connection with a Change of Control. If the Company terminates Executive’s employment without Cause, or Executive terminates his employment by reason of a
Constructive Termination, and a Change in Control (or the signing of a binding agreement which could result in a Change in Control) is reasonably expected within the next 60 days or has occurred in the past two years, then, provided that Executive
executes a General Release provided in Exhibit B within 21 days (or such longer period as required by law) following such termination and such Release becomes effective after the application of any revocation period, Executive shall be entitled to
the following separation benefits: 
 (i) a cash payment equal to two times Executive’s then-current Base Salary; 

(ii) a cash payment equal to the total of bonuses received by Executive for the STIP periods totaling 12 months preceding the termination date;

 (iii) full acceleration in vesting of all equity awards (options and restricted stock units) that are outstanding and unvested as of the
Separation from Service; 
 (iv) twelve (12) months from Executive’s Separation from Service to exercise all vested options or the
remaining term of the option, whichever is shorter; and 
 (v) the cost of medical insurance and dental insurance coverage at the same coverage
level as in effect as of Executive’s termination date for a period of twelve (12) months following Executive’s termination date, based on the Healthcare Cost of such coverage on the Executive’s Separation from Service.

 10. Payment of Benefits under Sections 8 and 9. 
 (a) Subject to the deferral provisions of subsection (b) below, payment of benefits under Sections 8 or 9 above shall be made by lump sum within 90 days following Executive’s Separation from
Service; provided, however, if such 90-day period spans two taxable years, then payment shall be made in the portion of that 90-day period that occurs during the second taxable year. 
 (b) Notwithstanding any provision to the contrary in this Agreement, no payments or benefits to which Executive becomes entitled under Sections 8 and 9 of this Agreement shall be made or paid to Executive
prior to the earlier of (i) the expiration of the 6 month period measured from the date of his Separation from Service or (ii) the date of Executive’s death, if the Executive is deemed at the time of such Separation from Service a
“key employee” within the meaning of that term under Section 416(i) of the Internal Revenue Code of 1986, as amended (the “Code”), and such delayed commencement is otherwise required in order to avoid a prohibited
distribution under Code Section 409A(a)(2). Upon the expiration of the applicable Code Section 409A(a)(2) deferral period, all payments deferred pursuant to this Section 10 shall be paid in a lump sum to Executive, and any remaining
payments due under this Agreement shall be paid in accordance with the normal payment dates specified for them herein. 
 (c) Golden Parachute
Excise Tax. If the payments and benefits provided for in this Agreement or otherwise payable to Executive constitute “parachute payments” within the meaning of Section 280G of the Code and will be subject to the excise tax imposed by
Section 4999 of the Code, then those payments and benefits shall be subject to reduction to the extent necessary 

  
 5 

 
to assure that the payments and benefits provided Executive under this Agreement will be limited to the greater of (i) the amount of payments and benefits which can be provided without
triggering a parachute payment under Code Section 280G or (ii) the maximum dollar amount of payments and benefits which can be provided under this Agreement so as to provide Executive with the greatest after-tax amount of such payments and
benefits after taking into account any excise tax the Executive may incur under Code Section 4999 with respect to those payments and benefits and any other benefits or payments to which the Executive may be entitled in connection with any
change in control or ownership of the Company or the subsequent termination of his employment. Unless the Company and Executive otherwise agree in writing, any determination required under this Section 11 shall be made in writing in good faith
by an independent registered public accounting firm selected by the Company from among the largest four accounting firms in the United States (the “Accountants”). For purposes of making the calculations required by this Section 10,
the Accountants may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the Code. The Company and Executive shall
furnish to the Accountants such information and documents as the Accountants may reasonably request in order to make a determination under this Section. The Company shall bear all costs the Accountants may reasonably incur in connection with any
calculations contemplated by this Section 10. 
 (d) The benefit limits of this Section 10 shall be calculated as of the date on which
the event triggering the parachute payment is effected, and such calculation shall be completed within thirty (30) days after such effective date. 
 11. Definitions Associated with Separation from Service. 
 (a) “Cause”
means (i) gross dereliction of duties which continues after at least two notices, each 30 days apart, from a director designated by a majority of the board of directors, specifying in reasonable detail the tasks which must be accomplished and a
timeline for their accomplishment to avoid termination for Cause, (ii) willful and gross misconduct which injures the Company, (iii) willful and material violation of laws applicable to the Company which is injurious to the Company and
which is committed without good faith belief by Employee in the lawfulness of his conduct; (iv) embezzlement or theft of Company property or (v) commission of a felony. 
 (b) “Change of Control” means the occurrence of any of the following events: 

(i) Any “person” or “group” as such terms are defined under Sections 13 and 14 of the Securities Exchange Act of 1934 (“Exchange
Act”) (other than the Company, a subsidiary of the Company, or a Company employee benefit plan) is or becomes the “beneficial owner” (as defined in Exchange Act Rule 13d 3), directly or indirectly, of Company securities representing
50% or more of the combined voting power of the Company’s then outstanding securities. 
 (ii) The closing of (A) the sale of all or
substantially all of the assets of the Company if the holders of Company securities representing all voting power for the election of directors before the transaction hold less than a majority of the total voting power for the election of directors
of all entities which acquire such assets, or (B) the merger of the Company with or into another corporation if the holders of Company securities representing all voting power for the election of directors before the transaction hold less than
a majority of the total voting power for the election of directors of the surviving entity. 

  
 6 

 (iii) The issuance of securities which would give a person or group beneficial ownership of Company
securities representing 50% or more of all voting power for the election of directors. 
 (iv) A change in the board of directors such that the
incumbent directors and nominees of the incumbent directors are no longer a majority of the total number of directors. 
 (c)
“Competitor” means a business anywhere in the world which derives ten percent (10%) or more of its revenues from developing, manufacturing, marketing or selling any products which directly compete with the products
manufactured, marketed or sold by the Company or its subsidiaries as of the date Executive’s employment agreement terminates. 
 (d)
“Constructive Termination” means Executive’s resignation, effective within four months following the occurrence of any of the following events without Executive’s approval: (i) a material reduction in Executive’s
base compensation or target bonus, (ii) a material reduction in Executive’s authority, duties or responsibilities, (iii) a material relocation of Executive’s principal place of employment by a relocation of more than 100 miles
from the Company’s Corporate Headquarters in Sunnyvale, CA; or (iv) a material breach of this Agreement by the Company. In order to claim Constructive Termination, Executive must provide written notice to the Company of the existence of a
condition described in clause (i), (ii) (iii) or (iv) within ninety (90) days of the initial existence of the condition, and provide at least thirty (30) days from the Company’s receipt of such notice for the Company to
remedy such condition. 
 (e) “Separation from Service” means shall mean the cessation of Executive’s status as an
employee of the Company and shall be deemed to occur at such time as the level of the bona fide services Executive is to perform as an employee (or as a consultant or other independent contractor) permanently decreases to a level that is not more
than twenty percent (20%) of the average level of services Executive rendered in employee status during the immediately preceding thirty-six (36) months (or such shorter period for which Executive may have rendered such service). Any such
determination as to Separation from Service, however, shall be made in accordance with the applicable standards of the Treasury Regulations issued under Section 409A of the Code. 
 12. Proprietary Information Agreement. Executive remains bound by the terms of the PMC Sierra Confidential Information, Inventions Assignment and Arbitration Agreement (the “Confidentiality
and Arbitration Agreement”) executed as a pre-condition to employment at the Company a copy of which is attached hereto as Exhibit C and incorporated herein by reference. 
 13. Non-Compete. In consideration of receipt of separation benefits received under Sections 8 or 9 above, and conditioned upon the payment thereof, Executive agrees that until the later of one year
after the date Executive’s employment terminates, Executive will not, as an employee, agent, consultant, advisor, independent contractor, general partner, officer, director, stockholder, investor or in any other capacity directly engage in work
for, provide services or assistance to, or own a more than 25% voting interest in any Competitor of the Company, provided that, after consultation with Executive, the Company shall have determined that the proposed engagement conflicts with the
interests of the Company. 

  
 7 

 14. Miscellaneous. 
 (a) Assignment. This Agreement shall bind and benefit (a) Executive’s heirs, executors and legal representatives upon Executive’s death to the extent the benefit is due and payable
at the time of Executive’s death and (b) any successor of the Company. Any such successor of the Company shall be deemed substituted for the Company under the terms of this Agreement for all purposes. “Successor” shall include
any person, firm, corporation or other business entity which at any time, whether by purchase, merger or otherwise, directly or indirectly acquires all or substantially all of the assets or business of the Company. Executive has no other right to
assign this Agreement and any such attempted assignment is void. 
 (b) Notices. All notices, requests, demands and other communications
under this Agreement shall be in writing and shall be deemed given if (i) delivered personally, (ii) one day after being sent by Federal Express or a similar commercial overnight service, or (iii) three days after being mailed by
registered or certified mail, return receipt requested, prepaid and addressed to Company at its principal office, attention: General Counsel, or to Executive at his last principal residence known to the Company, or at such other addresses as the
parties may designate by written notice. 
 (c) Withholding. The Company may withhold from any amounts payable under this Agreement such
Federal, state, local or foreign taxes as shall be required to be withheld pursuant to any applicable law or regulations. 
 (d)
Severability. In the event that any provision hereof becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, this Agreement shall continue in full force and effect without said provision. 

(e) Entire Agreement. With the exception of the Indemnification Agreement (Exhibit A), the General Release of Claims (Exhibit B)
executed as a condition to receiving certain separation benefits hereunder, the Confidential Information, Invention Assignment and Arbitration Agreement (Exhibit C) and all equity grant agreements, this Agreement constitutes the entire
Agreement between Executive and the Company with respect to any matters referred to herein. This Agreement supersedes any and all of the other agreements between Executive and the Company except as referenced herein. No other consideration,
agreements, representations, oral statements, understandings or course of conduct which are not expressly set forth in this Agreement should be implied or are binding. Executive shall not be entitled to any other compensation or benefits from the
Company for any termination or Separation from Service except as provided herein and to the extent provided under any written Company benefit plan, stock option agreement, or as may be required under applicable law. 

(f) No Oral Modification, Cancellation or Discharge. This Agreement may only be amended, canceled or discharged in writing signed by Executive and
a member of the Board. 

  
 8 

 (g) Governing Law. This Agreement shall be governed by the laws of the State of Delaware (with the
exception of its conflict of laws provisions). 
 (h) Arbitration and Equitable Relief. Executive agrees that any and all controversies,
claims, or disputes with anyone (including the Company and any employee, officer, director, shareholder or benefit plan of the Company in their capacity as such or otherwise) arising out of, relating to, or resulting from my employment with the
Company or the termination or Separation from Service with the Company, including any breach of this Agreement, shall be subject to binding arbitration and Equitable Relief as further provided in Section 9 of the Confidential Information,
Invention Assignment and Arbitration Agreement (Exhibit C). 
 (i) Code Section 409A. It is the intention of the
parties that the provisions of this Agreement comply with the requirements of Code Section 409A and the Treasury Regulations thereunder. Accordingly, to the extent there is any ambiguity as to whether one or more provisions of this Agreement
would otherwise contravene the applicable requirements or limitations of Code Section 409A, then those provisions shall be interpreted and applied in a manner that does not result in a violation of the applicable requirements or limitations of
Code Section 409A and the Treasury Regulations thereunder. 
 IN WITNESS WHEREOF, Executive has hereunto set his hand and, pursuant to the
authorization from its Board of Directors, the Company has caused this Agreement to be executed in its name and on its behalf. 
  

					
	PMC-SIERRA, INC.:	 		 	EXECUTIVE:
			
	 /s/ Jonathan J. Judge
	 		 	 /s/ Gregory S. Lang

	Jonathan J. Judge	 		 	Gregory S. Lang
			
	Compensation Committee Chairperson	 		 	
			
	Date:	 		 	Date:

  
 9 

 EXHIBIT A 

to the Executive Employment Agreement of Gregory Lang 
 PMC-SIERRA, INC. 
 INDEMNIFICATION AGREEMENT 

THIS AGREEMENT is entered into by and between PMC-Sierra, a Delaware corporation (the “Company”), and Gregory Lang (“Indemnitee”)
effective as of Indemnitee’s Start Date as identified in the Executive Employment Agreement. 
 WHEREAS, it is essential to the Company to
retain and attract as directors and officers the most capable persons available; 
 WHEREAS, Indemnitee is a director and/or officer of the
Company; 
 WHEREAS, both the Company and Indemnitee recognize the increased risk of litigation and other claims currently being asserted
against directors and officers of corporations; 
 WHEREAS, the Certificate of Incorporation and Bylaws of the Company require the Company to
indemnify and advance expenses to its directors and officers to the fullest extent permitted under Delaware law, and the Indemnitee has been serving and continues to serve as a director and/or officer of the Company in part in reliance on the
Company’s Certificate of Incorporation and Bylaws; and 
 WHEREAS, in recognition of Indemnitee’s need for (i) substantial
protection against personal liability based on Indemnitee’s reliance on the aforesaid Certificate of Incorporation and Bylaws, (ii) specific contractual assurance that the protection promised by the Certificate of Incorporation and Bylaws
will be available to Indemnitee (regardless of, among other things, any amendment to or revocation of the Certificate of Incorporation and Bylaws or any change in the composition of the Company’s Board of Directors or acquisition transaction
relating to the Company), and (iii) an inducement to provide effective services to the Company as a director and/or officer, the Company wishes to provide in this Agreement for the indemnification of and the advancing of expenses to Indemnitee
to the fullest extent (whether partial or complete) permitted under Delaware, California or United States law and as set forth in this Agreement, and, to the extent insurance is maintained, to provide for the continued coverage of Indemnitee under
the Company’s directors’ and officers’ liability insurance policies. 
 NOW, THEREFORE, in consideration of the above premises
and of Indemnitee continuing to serve the Company directly or, at its request, with another enterprise, and intending to be legally bound hereby, the parties agree as follows: 
 1. Certain Definitions: 
 (a) Board: the Board of Directors of the Company.

 (b) Affiliate: any corporation or other person or entity that directly, or indirectly through one or more intermediaries, controls or
is controlled by, or is under common control with, the person specified. 

  
 A-1

 (c) Change in Control: shall be deemed to have occurred if (i) any
“person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (other than a trustee or other fiduciary holding securities under an employee benefit plan of the
Company or a corporation owned directly or indirectly by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company, and other than any person holding shares of the Company on the date that the
Company first registers under the Act or any transferee of such individual if such transferee is a spouse or lineal descendant of the transferee or a trust for the benefit of the individual, his spouse or lineal descendants), is or becomes the
“beneficial owner” (as defined in Rule 13d 3 under the Exchange Act), directly or indirectly, of securities of the Company representing 30% or more of the total voting power represented by the Company’s then outstanding Voting
Securities, or (ii) during any period of two consecutive years, individuals who at the beginning of such period constitute the Board and any new director whose election by the Board or nomination for election by the Company’s stockholders
was approved by a vote of at least two-thirds
( 2/3) of the directors then still in office
who either were directors at the beginning of the period or whose election or nomination for election was previously so approved, cease for any reason to constitute a majority of the Board, or (iii) the stockholders of the Company approve a
merger or consolidation of the Company with any other entity, other than a merger or consolidation that would result in the Voting Securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining
outstanding or by being converted into Voting Securities of the surviving entity) at least 80% of the total voting power represented by the Voting Securities of the Company or such surviving entity outstanding immediately after such merger or
consolidation, or (iv) the stockholders of the Company approve a plan of complete liquidation of the Company or an agreement for the sale or disposition by the Company (in one transaction or a series of transactions) of all or substantially all
of the Company’s assets. 
 (d) Expenses: any expense, liability, or loss, including attorneys’ fees, judgments, fines,
ERISA excise taxes and penalties, amounts paid or to be paid in settlement, any interest, assessments, or other charges imposed thereon, any federal, state, local, or foreign taxes imposed as a result of the actual or deemed receipt of any payments
under this Agreement, and all other costs and obligations, paid or incurred in connection with investigating, defending, being a witness in, participating in (including on appeal), or preparing for any of the foregoing in, any Proceeding relating to
any Indemnifiable Event. 
 (e) Indemnifiable Event: any event or occurrence that takes place either prior to or after the execution of
this Agreement, related to the fact that Indemnitee is or was a director or officer of the Company, or while a director or officer is or was serving at the request of the Company as a director, officer, employee, trustee, agent, or fiduciary of
another foreign or domestic corporation, partnership, joint venture, employee benefit plan, trust, or other enterprise, or was a director, officer, employee, or agent of a foreign or domestic corporation that was a predecessor corporation of the
Company or of another enterprise at the request of such predecessor corporation, or related to anything done or not done by Indemnitee in any such capacity, whether or not the basis of the Proceeding is alleged action in an official capacity as a
director, officer, employee, or agent or in any other capacity while serving as a director, officer, employee, or agent of the Company, as described above. 

  
 A-2

 (f) Independent Counsel: the person or body appointed in connection with Section 3. 

(g) Proceeding: any threatened, pending, or completed action, suit, or proceeding or any alternative dispute resolution mechanism (including an
action by or in the right of the Company), or any inquiry, hearing, or investigation, whether conducted by the Company or any other party, that Indemnitee in good faith believes might lead to the institution of any such action, suit, or proceeding,
whether civil, criminal, administrative, investigative, or other. 
 (h) Reviewing Party: the person or body appointed in accordance with
Section 3. 
 (i) Voting Securities: any securities of the Company that vote generally in the election of directors. 

2. Agreement to Indemnify. 
 (a)
General Agreement. In the event Indemnitee was, is, or becomes a party to or witness or other participant in, or is threatened to be made a party to or witness or other participant in, a Proceeding by reason of (or arising in part out of) an
Indemnifiable Event, the Company shall indemnify Indemnitee from and against any and all Expenses to the fullest extent permitted by law, as the same exists or may hereafter be amended or interpreted (but in the case of any such amendment or
interpretation, only to the extent that such amendment or interpretation permits the Company to provide broader indemnification rights than were permitted prior thereto). The parties hereto intend that this Agreement shall provide for
indemnification in excess of that expressly permitted by statute, including, without limitation, any indemnification provided by the Company’s Certificate of Incorporation, its Bylaws, vote of its shareholders or disinterested directors, or
applicable law. 
 (b) Initiation of Proceeding. Notwithstanding anything in this Agreement to the contrary, Indemnitee shall not be
entitled to indemnification pursuant to this Agreement in connection with any Proceeding initiated by Indemnitee against the Company or any director or officer of the Company unless (i) the Company has joined in or the Board has consented to
the initiation of such Proceeding; (ii) the Proceeding is one to enforce indemnification rights under Section 5; or (iii) the Proceeding is instituted after a Change in Control (other than a Change in Control approved by a majority of
the directors on the Board who were directors immediately prior to such Change in Control) and Independent Counsel has approved its initiation. 

(c) Expense Advances. If so requested by Indemnitee, the Company shall advance (within ten business days of such request) any and all Expenses to
Indemnitee (an “Expense Advance”). The Indemnitee shall qualify for such Expense Advances upon the execution and delivery to the Company of this Agreement which shall constitute an undertaking providing that the Indemnitee undertakes to
repay such Expense Advances if and to the extent that it is ultimately determined by a court of competent jurisdiction in a final judgment, not subject to appeal, that Indemnitee is not entitled to be indemnified by the Company. Indemnitee’s
obligation to reimburse the Company for Expense Advances shall be unsecured and no interest shall be charged thereon. 

  
 A-3

 (d) Mandatory Indemnification. Notwithstanding any other provision of this Agreement, to the extent
that Indemnitee has been successful on the merits or otherwise in defense of any Proceeding relating in whole or in part to an Indemnifiable Event or in defense of any issue or matter therein, Indemnitee shall be indemnified against all Expenses
incurred in connection therewith. 
 (e) Partial Indemnification. If Indemnitee is entitled under any provision of this Agreement to
indemnification by the Company for some or a portion of Expenses, but not, however, for the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is entitled. 

(f) Prohibited Indemnification. No indemnification pursuant to this Agreement shall be paid by the Company on account of any Proceeding in which
judgment is rendered against Indemnitee for an accounting of profits made from the purchase or sale by Indemnitee of securities of the Company pursuant to the provisions of Section 16(b) of the Securities Exchange Act of 1934, as amended, or
similar provisions of any federal, state, or local laws. 
 3. Reviewing Party. Prior to any Change in Control, the Reviewing Party shall
be any appropriate person or body consisting of a member or members of the Board or any other person or body appointed by the Board who is not a party to the particular Proceeding with respect to which Indemnitee is seeking indemnification; after a
Change in Control, the Independent Counsel referred to below shall become the Reviewing Party. With respect to all matters arising after a Change in Control (other than a Change in Control approved by a majority of the directors on the Board who
were directors immediately prior to such Change in Control) concerning the rights of Indemnitee to indemnity payments and Expense Advances under this Agreement or any other agreement or under applicable law or the Company’s Certificate of
Incorporation or Bylaws now or hereafter in effect relating to indemnification for Indemnifiable Events, the Company shall seek legal advice only from Independent Counsel selected by Indemnitee and approved by the Company (which approval shall not
be unreasonably withheld), and who has not otherwise performed services for the Company or the Indemnitee (other than in connection with indemnification matters) within the last five years. The Independent Counsel shall not include any person who,
under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement. Such counsel, among
other things, shall render its written opinion to the Company and Indemnitee as to whether and to what extent the Indemnitee should be permitted to be indemnified under applicable law. The Company agrees to pay the reasonable fees of the Independent
Counsel and to indemnify fully such counsel against any and all expenses (including attorneys’ fees), claims, liabilities, loss, and damages arising out of or relating to this Agreement or the engagement of Independent Counsel pursuant hereto.

  
 A-4

 4. Indemnification Process and Appeal. 
 (a) Indemnification Payment. Indemnitee shall be entitled to indemnification of Expenses, and shall receive payment thereof, from the Company in accordance with this Agreement as soon as
practicable after Indemnitee has made written demand on the Company for indemnification, unless the Reviewing Party has given a written opinion to the Company that Indemnitee is not entitled to indemnification under applicable law. 

(b) Suit to Enforce Rights. Regardless of any action by the Reviewing Party, if Indemnitee has not received full indemnification within thirty
days after making a demand in accordance with Section 4(a), Indemnitee shall have the right to enforce its indemnification rights under this Agreement by commencing litigation in any court in the State of California or the State of Delaware
having subject matter jurisdiction thereof seeking an initial determination by the court or challenging any determination by the Reviewing Party or any aspect thereof. The Company hereby consents to service of process and to appear in any such
proceeding. Any determination by the Reviewing Party not challenged by the Indemnitee shall be binding on the Company and Indemnitee. The remedy provided for in this Section 4 shall be in addition to any other remedies available to Indemnitee
at law or in equity. 
 (c) Defense to Indemnification, Burden of Proof, and Presumptions. It shall be a defense to any action brought by
Indemnitee against the Company to enforce this Agreement (other than an action brought to enforce a claim for Expenses incurred in defending a Proceeding in advance of its final disposition) that it is not permissible under applicable law for the
Company to indemnify Indemnitee for the amount claimed. In connection with any such action or any determination by the Reviewing Party or otherwise as to whether Indemnitee is entitled to be indemnified hereunder, the burden of proving such a
defense or determination shall be on the Company. Neither the failure of the Reviewing Party or the Company (including its Board, independent legal counsel, or its stockholders) to have made a determination prior to the commencement of such action
by Indemnitee that indemnification of the claimant is proper under the circumstances because Indemnitee has met the standard of conduct set forth in applicable law, nor an actual determination by the Reviewing Party or Company (including its Board,
independent legal counsel, or its stockholders) that the Indemnitee had not met such applicable standard of conduct, shall be a defense to the action or create a presumption that the Indemnitee has not met the applicable standard of conduct. For
purposes of this Agreement, the termination of any claim, action, suit, or proceeding, by judgment, order, settlement (whether with or without court approval), conviction, or upon a plea of nolo contendere, or its equivalent, shall not create a
presumption that Indemnitee did not meet any particular standard of conduct or have any particular belief or that a court has determined that indemnification is not permitted by applicable law. 

5. Indemnification for Expenses Incurred in Enforcing Rights. The Company shall indemnify Indemnitee against any and all Expenses that are
incurred by Indemnitee in connection with any action brought by Indemnitee for 
 (i) indemnification or advance payment of Expenses by the
Company under this Agreement or any other agreement or under applicable law or the Company’s Certificate of Incorporation or Bylaws now or hereafter in effect relating to indemnification for Indemnifiable Events, and/or 

  
 A-5

 (ii) recovery under directors’ and officers’ liability insurance policies maintained by the
Company, but only in the event that Indemnitee ultimately is determined to be entitled to such indemnification or insurance recovery, as the case may be. In addition, the Company shall, if so requested by Indemnitee, advance the foregoing Expenses
to Indemnitee, subject to and in accordance with Section 2(c). 
 6. Notification and Defense of Proceeding. 

(a) Notice. Promptly after receipt by Indemnitee of notice of the commencement of any Proceeding, Indemnitee shall, if a claim in respect thereof
is to be made against the Company under this Agreement, notify the Company of the commencement thereof; but the omission so to notify the Company will not relieve the Company from any liability that it may have to Indemnitee, except as provided in
Section 6(c). 
 (b) Defense. With respect to any Proceeding as to which Indemnitee notifies the Company of the commencement
thereof, the Company will be entitled to participate in the Proceeding at its own expense and except as otherwise provided below, to the extent the Company so wishes, it may assume the defense thereof with counsel reasonably satisfactory to
Indemnitee. After notice from the Company to Indemnitee of its election to assume the defense of any Proceeding, the Company shall not be liable to Indemnitee under this Agreement or otherwise for any Expenses subsequently incurred by Indemnitee in
connection with the defense of such Proceeding other than reasonable costs of investigation or as otherwise provided below. Indemnitee shall have the right to employ legal counsel in such Proceeding, but all Expenses related thereto incurred after
notice from the Company of its assumption of the defense shall be at Indemnitee’s expense unless: (i) the employment of legal counsel by Indemnitee has been authorized by the Company, (ii) Indemnitee has reasonably determined that
there may be a conflict of interest between Indemnitee and the Company in the defense of the Proceeding, (iii) after a Change in Control (other than a Change in Control approved by a majority of the directors on the Board who were directors
immediately prior to such Change in Control), the employment of counsel by Indemnitee has been approved by the Independent Counsel, or (iv) the Company shall not in fact have employed counsel to assume the defense of such Proceeding, in each of
which cases all Expenses of the Proceeding shall be borne by the Company. The Company shall not be entitled to assume the defense of any Proceeding brought by or on behalf of the Company or as to which Indemnitee shall have made the determination
provided for in (ii), (iii) and (iv) above. 
 (c) Settlement of Claims. The Company shall not be liable to indemnify
Indemnitee under this Agreement or otherwise for any amounts paid in settlement of any Proceeding effected without the Company’s written consent, such consent not to be unreasonably withheld; provided, however, that if a Change in Control has
occurred (other than a Change in Control approved by a majority of the directors on the Board who were directors immediately prior to such Change in Control), the Company shall be liable for indemnification of Indemnitee for amounts paid in
settlement if the Independent Counsel has approved the settlement. The Company shall not settle any Proceeding in any manner that would impose any penalty or 

  
 A-6

 
limitation on Indemnitee without Indemnitee’s written consent. The Company shall not be liable to indemnify the Indemnitee under this Agreement with regard to any judicial award if the
Company was not given a reasonable and timely opportunity, at its expense, to participate in the defense of such action; the Company’s liability hereunder shall not be excused if participation in the Proceeding by the Company was barred by this
Agreement. 
 7. Establishment of Trust. In the event of a Change in Control (other than a Change in Control approved by a majority of
the directors on the Board who were directors immediately prior to such Change in Control) the Company shall, upon written request by Indemnitee, create a Trust for the benefit of the Indemnitee and from time to time upon written request of
Indemnitee shall fund the Trust in an amount sufficient to satisfy any and all Expenses reasonably anticipated at the time of each such request to be incurred in connection with investigating, preparing for, participating in, and/or defending any
Proceeding relating to an Indemnifiable Event. The amount or amounts to be deposited in the Trust pursuant to the foregoing funding obligation shall be determined by the Independent Counsel. The terms of the Trust shall provide that (i) the
Trust shall not be revoked or the principal thereof invaded without the written consent of the Indemnitee, (ii) the Trustee shall advance, within ten business days of a request by the Indemnitee, any and all Expenses to the Indemnitee (and the
Indemnitee hereby agrees to reimburse the Trust under the same circumstances for which the Indemnitee would be required to reimburse the Company under Section 2(c) of this Agreement), (iii) the Trust shall continue to be funded by the
Company in accordance with the funding obligation set forth above, (iv) the Trustee shall promptly pay to the Indemnitee all amounts for which the Indemnitee shall be entitled to indemnification pursuant to this Agreement or otherwise, and
(v) all unexpended funds in the Trust shall revert to the Company upon a final determination by the Independent Counsel or a court of competent jurisdiction, as the case may be, that the Indemnitee has been fully indemnified under the terms of
this Agreement. The Trustee shall be chosen by the Indemnitee. Nothing in this Section 7 shall relieve the Company of any of its obligations under this Agreement. All income earned on the assets held in the Trust shall be reported as income by
the Company for federal, state, local, and foreign tax purposes. The Company shall pay all costs of establishing and maintaining the Trust and shall indemnify the Trustee against any and all expenses (including attorneys’ fees), claims,
liabilities, loss, and damages arising out of or relating to this Agreement or the establishment and maintenance of the Trust. 
 8.
Non-Exclusivity. The rights of Indemnitee hereunder shall be in addition to any other rights Indemnitee may have under the Company’s Certificate of Incorporation, Bylaws, applicable law, or otherwise; provided, however, that this
Agreement shall supersede any prior indemnification agreement between the Company and the Indemnitee. To the extent that a change in applicable law (whether by statute or judicial decision) permits greater indemnification than would be afforded
currently under the Company’s Certificate of Incorporation, Bylaws, applicable law, or this Agreement, it is the intent of the parties that Indemnitee enjoy by this Agreement the greater benefits so afforded by such change. 

9. Liability Insurance. To the extent the Company maintains an insurance policy or policies providing general and/or directors’ and
officers’ liability insurance, Indemnitee shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage available for any Company director or officer. 

  
 A-7

 10. Period of Limitations. No legal action shall be brought and no cause of action shall be asserted
by or on behalf of the Company or any Affiliate of the Company against Indemnitee, Indemnitee’s spouse, heirs, executors, or personal or legal representatives after the expiration of two years from the date of accrual of such cause of action,
or such longer period as may be required by state law under the circumstances. Any claim or cause of action of the Company or its Affiliate shall be extinguished and deemed released unless asserted by the timely filing and notice of a legal action
within such period; provided, however, that if any shorter period of limitations is otherwise applicable to any such cause of action, the shorter period shall govern. 
 11. Amendment of this Agreement. No supplement, modification, or amendment of this Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the
provisions of this Agreement shall be binding unless in the form of a writing signed by the party against whom enforcement of the waiver is sought, and no such waiver shall operate as a waiver of any other provisions hereof (whether or not similar),
nor shall such waiver constitute a continuing waiver. Except as specifically provided herein, no failure to exercise or any delay in exercising any right or remedy hereunder shall constitute a waiver thereof. 

12. Subrogation. In the event of payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights
of recovery of Indemnitee, who shall execute all papers required and shall do everything that may be necessary to secure such rights, including the execution of such documents necessary to enable the Company effectively to bring suit to enforce such
rights. 
 13. No Duplication of Payments. The Company shall not be liable under this Agreement to make any payment in connection with
any claim made against Indemnitee to the extent Indemnitee has otherwise received payment (under any insurance policy, Bylaw, or otherwise) of the amounts otherwise indemnifiable hereunder. 
 14. Binding Effect. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and their respective successors (including any direct or indirect
successor by purchase, merger, consolidation, or otherwise to all or substantially all of the business and/or assets of the Company), assigns, spouses, heirs, and personal and legal representatives. The Company shall require and cause any successor
(whether direct or indirect by purchase, merger, consolidation, or otherwise) to all, substantially all, or a substantial part, of the business and/or assets of the Company, by written agreement in form and substance satisfactory to Indemnitee,
expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place. The indemnification provided under this Agreement shall continue
as to Indemnitee for any action taken or not taken while serving in an indemnified capacity pertaining to an Indemnifiable Event even though he may have ceased to serve in such capacity at the time of any Proceeding. 

15. Severability. If any provision (or portion thereof) of this Agreement shall be held by a court of competent jurisdiction to be invalid, void,
or otherwise unenforceable, the remaining provisions shall remain enforceable to the fullest extent permitted by law. Furthermore, to the fullest extent possible, the provisions of this Agreement (including, without limitation, each portion of this
Agreement containing any provision held to be invalid, void, or otherwise unenforceable, that is not itself invalid, void, or unenforceable) shall be construed so as to give effect to the intent manifested by the provision held invalid, void, or
unenforceable. 

  
 A-8

 16. Governing Law. This Agreement shall be governed by and construed and enforced in accordance with
the laws of the State of Delaware applicable to contracts made and to be performed in such State without giving effect to its principles of conflicts of laws. 
 17. Notices. All notices, demands, and other communications required or permitted hereunder shall be made in writing and shall be deemed to have been duly given if delivered by hand, against
receipt, or mailed, postage prepaid, certified or registered mail, return receipt requested, and addressed to the Company at: 
 PMC-Sierra,
Inc. 
 3975 Freedom Circle, Suite 100 

Santa Clara, CA 95054 
 Attention: General
Counsel 
 and to Indemnitee at: home address on file with Human Resources. 
 Notice of change of address shall be effective only when given in accordance with this Section. All notices complying with this Section shall be deemed to have been received on the date of hand delivery
or on the third business day after mailing. 
 18. Counterparts. This Agreement may be executed in one or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute one and the same instrument. 
 IN WITNESS WHEREOF, the parties
hereto have duly executed and delivered this Agreement as of the day specified above. 
  

			
	PMC-SIERRA, INC.,
	a Delaware corporation
		
	By:	 	 /s/ Jonathan J. Judge

		
		 	Jonathan J. Judge, Director and
		
		 	Chair of the Compensation Committee
	
	INDEMNITEE
	
	 /s/ Gregory Lang

	Gregory Lang

  
 A-9

 EXHIBIT B 

to the Executive Employment Agreement of Gregory Lang 
 PMC-SIERRA, INC. 
 GENERAL RELEASE OF CLAIMS 

THIS GENERAL RELEASE OF CLAIMS must be accepted by Gregory Lang (“Executive”) as a precondition to receipt of certain separation benefits
described in Sections 8 and 9 of the Executive Employment Agreement by and between Executive and PMC-Sierra, Inc., (the “Company”). 

WHEREFORE, on behalf of myself, my heirs, executors, administrators and assigns, I (“Executive”) hereby make the following agreements and
acknowledgements in exchange for benefits to be received by me under my Executive Employment Agreement (the “Agreement”) 
 NOW
THEREFORE IT IS AGREED: 
 1. Executive agrees that he fully and forever releases and discharges the Company and all of its parents, divisions,
subsidiaries, affiliates, related entities, and their predecessors, successors, and past and present officers, directors, shareholders, employees, agents, partners, attorneys, benefit plans, insurers, and representatives, (hereinafter
“Releasees”) from any and all claims of whatever nature, except as noted below, whether known or unknown, which exist or may exist on Executive’s behalf against Releasees as of the date of this Agreement, including but not limited to
any and all tort claims, contract claims, equitable claims, breach of fiduciary duty claims, ERISA claims, wrongful termination claims, public policy claims, retaliation claims, statutory claims, personal injury claims, emotional distress claims,
invasion of privacy claims, defamation claims, fraud claims, quantum meruit claims, and any and all claims arising under any federal, state or other governmental statute, law, regulation or ordinance covering discrimination in employment, including
but not limited to Title VII of the Civil Rights Act of 1964, as amended, the Americans with Disabilities Act, the Age Discrimination in Employment Act, and the California Fair Employment and Housing Act, including race, color, religious creed,
national origin, ancestry, physical or mental disability, medical condition, marital status, sex, age, harassment, or retaliation. Notwithstanding any provisions and covenants in this paragraph, Executive is not waiving any claim he may have against
Releasees to: (a) to be paid in full all wages, salary and compensation earned as the date of termination and to be reimbursed for all expenses incurred in the course of employment; (b) receive the Separation Benefits or Change of Control
Benefits described in the Agreement; (b) unemployment; (c) state disability and/or workers’ compensation insurance benefits; (d) my vested rights upon termination in certain of the Company’s group benefit plans pursuant to
the federal law known as COBRA and the terms of the Company’s benefit plans; and (e) any right to indemnification I may have under the Company’s Bylaws, Delaware, California, or Federal law or under the Indemnification Agreement
between the Company and me. 

  
 B-1

 Executive agrees that he fully and forever waives any and all rights and benefits conferred upon him by the
provisions of Section 1542 of the Civil Code of the State of California or any other similar state statute, which states as follows: 
 A
general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor. 

Executive understands and agrees that this means that if, hereafter, he discovers facts different from or in addition to those which he now knows or
believes to be true, that the waivers and releases of this General Release shall be and remain effective in all respects subject to the exceptions in Section 1, notwithstanding such different or additional facts or the discovery of such fact.

 4. The parties agree that neither the fact nor any aspect of this General Release is intended, or should be construed at any time, to be an
admission of liability or wrongdoing by either Executive or by the Company. 
 5. The parties agree that if any provision, or portion of a
provision, of this General Release is, for any reason, held to be unenforceable, that such unenforceability will not affect any other provision, or portion of a provision, and this General Release shall be construed as if such unenforceable
provision or portion had never been contained herein. 
 6. Executive understands that he has twenty-one (21) days after receipt of this
General Release within which he may review and consider it, and should discuss it with an attorney of my own choosing, and decide whether or not to sign this General Release. He also understands that, for the period of seven (7) days after he
signs this General Release, he may revoke it by delivering a written notification of my revocation, no later than the seventh day, to: 

General Counsel 
 1380 Bordeaux Drive

 Sunnyvale CA 94089 
 Fax:
408-239-8118 
 Executive further understands that the Effective Date of this General Release will be the eighth day after he has signed it,
provided that he has delivered it to the Company and has not revoked it during the seven days after he signed it. He understands that he will not receive the separation payment and other separation benefits if he revokes this General Release.

 7. This General Release, in all respects, shall be interpreted, enforced and governed by and under the laws of the State of Delaware. Any
disputes regarding the enforcement or interpretation of this General Release shall be governed by binding arbitration, under the terms of the Arbitration and Equitable Relief agreement previously signed by the Company and Executive. 

This General Release contains the entire agreement between the Company and Executive with 

respect to any matters referred to herein. 

  
 B-2

 EXECUTIVE HAS READ THIS GENERAL RELEASE AND IS AUTHORIZED TO SIGN IT. NO RIGHTS HEREIN ARE ASSIGNED TO
ANY OTHER PERSON. EXECUTIVE HAS HAD THE OPPORTUNITY TO CONSULT WITH AN ATTORNEY OF HIS OWN CHOOSING BEFORE SIGNING IT AND SIGNS IT VOLUNTARILY: 
  

					
	Signed:             ,     20	 		 	Executive’s Signature:
			
		 		 	  

  
 B-3

 EXHIBIT C 

to the Executive Employment Agreement of Gregory Lang 
 PMC-SIERRA, INC. 
 CONFIDENTIAL INFORMATION, INVENTION ASSIGNMENT

 AND ARBITRATION AGREEMENT 
 As a condition of my employment with PMC-Sierra, Inc., its subsidiaries, affiliates, successors or assigns (together the “Company”), and in consideration of my employment with the Company and my
receipt of the compensation now and hereafter paid to me by Company, I agree to the following: 
 1. Confidential Information.

 A. Company Information. I agree at all times during the term of my employment and thereafter, to hold in strictest confidence, and not
to use, except for the benefit of the Company, or to disclose to any person, firm or corporation without written authorization of the Board of Directors of the Company, any Confidential Information of the Company, except under a non-disclosure
agreement duly authorized and executed by the Company. I understand that “Confidential Information” means any non-public information that relates to the actual or anticipated business or research and development of the Company,
technical data, trade secrets or know-how, including, but not limited to, research, product plans or other information regarding Company’s products or services and markets therefor, customer lists and customers (including, but not limited to,
customers of the Company on whom I called or with whom I became acquainted during the term of my employment), software, developments, inventions, processes, formulas, technology, designs, drawings, engineering, hardware configuration information,
marketing, finances or other business information. I further understand that Confidential Information does not include any of the foregoing items which have become publicly known and made generally available through no wrongful act of mine or of
others who were under confidentiality obligations as to the item or items involved or improvements or new versions thereof. 
 B. Former
Employer Information. I agree that I will not, during my employment with the Company, improperly use or disclose any proprietary information or trade secrets of any former or concurrent employer or other person or entity and that I will not
bring onto the premises of the Company any unpublished document or proprietary information belonging to any such employer, person or entity unless consented to in writing by such employer, person or entity. 

C. Third Party Information. I recognize that the Company has received and in the future will receive from third parties their confidential or
proprietary information subject to a duty on the Company’s part to maintain the confidentiality of such information and to use it only for certain limited purposes. I agree to hold all such confidential or proprietary information in the
strictest confidence and not to disclose it to any person, firm or corporation or to use it except as necessary in carrying out my work for the Company consistent with the Company’s agreement with such third party. 

  
 C-1

 2. Inventions. 
 A. Inventions Retained and Licensed. I have attached hereto, as Schedule A, a list describing all inventions, original works of authorship, developments, improvements, and trade secrets
which were made by me prior to my employment with the Company (collectively referred to as “Prior Inventions”), which belong to me, which relate to the Company’s proposed business, products or research and development, and
which are not assigned to the Company hereunder; or, if no such list is attached, I represent that there are no such Prior Inventions. If in the course of my employment with the Company, I incorporate into a Company product, process or service a
Prior Invention owned by me or in which I have an interest, I hereby grant to the Company a nonexclusive, royalty-free, fully paid-up, irrevocable, perpetual, worldwide license to make, have made, modify, use and sell such Prior Invention as part of
or in connection with such product, process or service, and to practice any method related thereto. 
 B. Assignment of Inventions. I
agree that I will promptly make full written disclosure to the Company, will hold in trust for the sole right and benefit of the Company, and hereby assign to the Company, or its designee, all my right, title, and interest in and to any and all
inventions, original works of authorship, developments, concepts, improvements, designs, discoveries, ideas, trademarks or trade secrets, whether or not patentable or registrable under copyright or similar laws, which I may solely or jointly
conceive or develop or reduce to practice, or cause to be conceived or developed or reduced to practice, during the period of time I am in the employ of the Company (collectively referred to as “Inventions”), except as provided in
Section 2.F below. I further acknowledge that all original works of authorship which are made by me (solely or jointly with others) within the scope of and during the period of my employment with the Company and which are protectible by
copyright are “works made for hire,” as that term is defined in the United States Copyright Act. I understand and agree that the decision whether or not to commercialize or market any invention developed by me solely or jointly with others
is within the Company’s sole discretion and for the Company’s sole benefit and that no royalty will be due to me as a result of the Company’s efforts to commercialize or market any such invention. 

C. Inventions Assigned to the United States. I agree to assign to the United States government all my right, title, and interest in and to any and
all Inventions whenever such full title is required to be in the United States by a contract between the Company and the United States or any of its agencies. 
 D. Maintenance of Records. I agree to keep and maintain adequate and current written records of all Inventions made by me (solely or jointly with others) during the term of my employment with the
Company. The records will be in the form of notes, sketches, drawings, and any other format that may be specified by the Company. The records will be available to and remain the sole property of the Company at all times. 

E. Patent and Copyright Registrations. I agree to assist the Company, or its designee, at the Company’s expense, in every proper way to
secure the Company’s rights in the Inventions and any copyrights, patents, mask work rights or other intellectual property rights relating thereto in any and all countries, including the disclosure to the Company of all pertinent information
and data with respect thereto, the execution of all applications, specifications, oaths, 

  
 C-2

 
assignments and all other instruments which the Company shall deem necessary in order to apply for and obtain such rights and in order to assign and convey to the Company, its successors,
assigns, and nominees the sole and exclusive rights, title and interest in and to such Inventions, and any copyrights, patents, mask work rights or other intellectual property rights relating thereto. I further agree that my obligation to execute or
cause to be executed, when it is in my power to do so, any such instrument or papers shall continue after the termination of this Agreement. If the Company is unable because of my mental or physical incapacity or for any other reason to secure my
signature to apply for or to pursue any application for any United States or foreign patents or copyright registrations covering Inventions or original works of authorship assigned to the Company as above, then I hereby irrevocably designate and
appoint the Company and its duly authorized officers and agents as my agent and attorney in fact, to act for and in my behalf and stead to execute and file any such applications and to do all other lawfully permitted acts to further the prosecution
and issuance of letters patent or copyright registrations thereon with the same legal force and effect as if executed by me. 
 F. Exception
to Assignments. I understand that the provisions of this Agreement requiring assignment of Inventions to the Company do not apply to any invention which qualifies fully under the provisions of California Labor Code Section 2870 (attached
hereto as Schedule B). I will advise the Company promptly in writing of any inventions that I believe meet the criteria in California Labor Code Section 2870 and not otherwise disclosed on Schedule A. 

3. Conflicting Employment. I agree that, during the term of my employment with the Company, I will not engage in any other employment, occupation
or consulting directly related to the business in which the Company is now involved or becomes involved during the term of my employment, nor will I engage in any other activities that conflict with my obligations to the Company. I am currently on
the Board of Directors of Intersil and the Company agrees that I may continue to serve as a member of Intersil’s Board of Directors. Upon the agreement of the Board of Directors of Company and provided it does not conflict with my obligations
to the Company, I may from time to time serve on the Board of Directors of other corporations (whether with or without compensation). Nothing in this paragraph will prohibit me from serving as a volunteer on a non-profit or community board,
providing volunteer services, or participating as a volunteer in community or educational activities. 
 4. Returning Company Documents.
I agree that, at the time of leaving the employ of the Company, I will deliver to the Company (and will not keep in my possession, recreate or deliver to anyone else) any and all devices, records, data, notes, reports, proposals, lists,
correspondence, specifications, drawings blueprints, sketches, materials, equipment, other documents or property, or reproductions of any aforementioned items developed by me pursuant to my employment with the Company or otherwise belonging to the
Company, its successors or assigns, including, without limitation, those records maintained pursuant to paragraph 2.D. In the event of the termination of my employment, I agree to sign and deliver the “Termination Certification”
attached hereto as Exhibit C. 
 5. Notification of New Employer. In the event that I leave the employ of the Company, I hereby
grant consent to notification by the Company to my new employer about my rights and obligations under this Agreement. 

  
 C-3

 6. Solicitation of Employees. I agree that for a period of twelve (12) months immediately
following the termination of my relationship with the Company for any reason, whether with or without cause, I shall not either directly or indirectly solicit, induce, recruit or encourage any of the Company’s employees to leave their
employment, or take away such employees, or attempt to solicit, induce, recruit, encourage or take away employees of the Company, either for myself or for any other person or entity. 
 7. Code of Business Conduct and Ethics. I agree to diligently adhere to the Code of Business Conduct and Ethics as adopted by the Board of Directors of the Company. This agreement includes
compliance with all applicable laws, rules and regulations, avoiding conflicts of interest, not engaging in insider trading; not taking personal advantage of corporate opportunities; competing and dealing fairly; not discriminating or harassing;
maintaining confidentiality of all confidential information entrusted to me; protecting and properly using company assets; not making inappropriate payments to government personnel; and reporting any illegal or unethical behavior of which I become
aware. The complete Code of Business Conduct and Ethics providing additional clarification of the above has been made available to me. 
 8.
Representations. I agree to execute any proper oath or verify any proper document required to carry out the terms of this Agreement. I represent that my performance of all the terms of this Agreement will not breach any agreement to keep in
confidence proprietary information acquired by me in confidence or in trust prior to my employment by the Company. I hereby represent and warrant that I have not entered into, and I will not enter into, any oral or written agreement in conflict
herewith. 
 9. Arbitration and Equitable Relief. 
 A. Arbitration. IN CONSIDERATION OF MY EMPLOYMENT WITH THE COMPANY, ITS PROMISE TO ARBITRATE ALL EMPLOYMENT-RELATED DISPUTES AND MY RECEIPT OF THE COMPENSATION, PAY RAISES AND OTHER BENEFITS PAID
TO ME BY THE COMPANY, AT PRESENT AND IN THE FUTURE, I AGREE THAT ANY AND ALL CONTROVERSIES, CLAIMS, OR DISPUTES WITH ANYONE (INCLUDING THE COMPANY AND ANY EMPLOYEE, OFFICER, DIRECTOR, SHAREHOLDER OR BENEFIT PLAN OF THE COMPANY IN THEIR CAPACITY AS
SUCH OR OTHERWISE) ARISING OUT OF, RELATING TO, OR RESULTING FROM MY EMPLOYMENT WITH THE COMPANY OR THE TERMINATION OF MY EMPLOYMENT WITH THE COMPANY, INCLUDING ANY BREACH OF THIS AGREEMENT, SHALL BE SUBJECT TO BINDING ARBITRATION UNDER THE
ARBITRATION RULES SET FORTH IN CALIFORNIA CODE OF CIVIL PROCEDURE SECTION 1280 THROUGH 1294.2, INCLUDING SECTION 1283.05 (THE “RULES”) AND PURSUANT TO CALIFORNIA LAW. DISPUTES WHICH I AGREE TO ARBITRATE, AND THEREBY AGREE TO WAIVE
ANY RIGHT TO A TRIAL BY JURY, INCLUDE ANY STATUTORY CLAIMS UNDER STATE OR FEDERAL LAW, INCLUDING, BUT NOT LIMITED TO, CLAIMS UNDER TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, THE AMERICANS WITH DISABILITIES ACT OF 1990, THE AGE DISCRIMINATION IN
EMPLOYMENT ACT OF 1967, THE OLDER WORKERS BENEFIT PROTECTION ACT, THE WORKER ADJUSTMENT AND RETRAINING NOTIFICATION ACT, THE CALIFORNIA FAIR EMPLOYMENT AND HOUSING ACT, THE FAMILY AND MEDICAL LEAVE ACT, THE

  
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CALIFORNIA FAMILY RIGHTS ACT, THE CALIFORNIA LABOR CODE, CLAIMS OF HARASSMENT, DISCRIMINATION OR WRONGFUL TERMINATION AND ANY STATUTORY CLAIMS. I FURTHER UNDERSTAND THAT THIS AGREEMENT TO
ARBITRATE ALSO APPLIES TO ANY DISPUTES THAT THE COMPANY MAY HAVE WITH ME. 
 B. Procedure. I AGREE THAT ANY ARBITRATION WILL BE
ADMINISTERED BY THE AMERICAN ARBITRATION ASSOCIATION (“AAA”) AND THAT THE NEUTRAL ARBITRATOR WILL BE SELECTED IN A MANNER CONSISTENT WITH ITS NATIONAL RULES FOR THE RESOLUTION OF EMPLOYMENT DISPUTES. I AGREE THAT THE ARBITRATOR
SHALL HAVE THE POWER TO DECIDE ANY MOTIONS BROUGHT BY ANY PARTY TO THE ARBITRATION, INCLUDING MOTIONS FOR SUMMARY JUDGMENT AND/OR ADJUDICATION AND MOTIONS TO DISMISS AND DEMURRERS, PRIOR TO ANY ARBITRATION HEARING. I ALSO AGREE THAT THE ARBITRATOR
SHALL HAVE THE POWER TO AWARD ANY REMEDIES, INCLUDING ATTORNEYS’ FEES AND COSTS, AVAILABLE UNDER APPLICABLE LAW. I UNDERSTAND THAT THE COMPANY WILL PAY FOR ANY ADMINISTRATIVE OR HEARING FEES CHARGED BY THE ARBITRATOR OR AAA EXCEPT THAT I SHALL
PAY THE FIRST $200.00 OF ANY FILING FEES ASSOCIATED WITH ANY ARBITRATION I INITIATE. I AGREE THAT THE ARBITRATOR SHALL ADMINISTER AND CONDUCT ANY ARBITRATION IN ACCORDANCE WITH THE RULES AND THAT TO THE EXTENT THAT THE AAA’S NATIONAL RULES FOR
THE RESOLUTION OF EMPLOYMENT DISPUTES CONFLICT WITH THE RULES, THE RULES SHALL TAKE PRECEDENCE. I AGREE THAT THE DECISION OF THE ARBITRATOR SHALL BE IN WRITING. 
 C. Remedy. EXCEPT AS PROVIDED BY THE RULES AND THIS AGREEMENT, ARBITRATION SHALL BE THE SOLE, EXCLUSIVE AND FINAL REMEDY FOR ANY DISPUTE BETWEEN ME AND THE COMPANY. ACCORDINGLY, EXCEPT AS PROVIDED
FOR BY THE RULES AND THIS AGREEMENT, NEITHER I NOR THE COMPANY WILL BE PERMITTED TO PURSUE COURT ACTION REGARDING CLAIMS THAT ARE SUBJECT TO ARBITRATION. NOTWITHSTANDING, THE ARBITRATOR WILL NOT HAVE THE AUTHORITY TO DISREGARD OR REFUSE TO ENFORCE
ANY LAWFUL COMPANY POLICY, AND THE ARBITRATOR SHALL NOT ORDER OR REQUIRE THE COMPANY TO ADOPT A POLICY NOT OTHERWISE REQUIRED BY LAW WHICH THE COMPANY HAS NOT ADOPTED. 
 D. Administrative Relief. I UNDERSTAND THAT THIS AGREEMENT DOES NOT PROHIBIT ME FROM PURSUING AN ADMINISTRATIVE CLAIM WITH A LOCAL, STATE OR FEDERAL ADMINISTRATIVE BODY SUCH AS THE DEPARTMENT OF
FAIR EMPLOYMENT AND HOUSING, THE EQUAL EMPLOYMENT OPPORTUNITY COMMISSION OR THE WORKERS’ COMPENSATION BOARD. THIS AGREEMENT DOES, HOWEVER, PRECLUDE ME FROM PURSUING COURT ACTION REGARDING ANY SUCH CLAIM. 

  
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 E. Voluntary Nature of Agreement. I ACKNOWLEDGE AND AGREE THAT I AM EXECUTING THIS AGREEMENT
VOLUNTARILY AND WITHOUT ANY DURESS OR UNDUE INFLUENCE BY THE COMPANY OR ANYONE ELSE. I FURTHER ACKNOWLEDGE AND AGREE THAT I HAVE CAREFULLY READ THIS AGREEMENT AND THAT I HAVE ASKED ANY QUESTIONS NEEDED FOR ME TO UNDERSTAND THE TERMS, CONSEQUENCES
AND BINDING EFFECT OF THIS AGREEMENT AND FULLY UNDERSTAND IT, INCLUDING THAT I AM WAIVING MY RIGHT TO A JURY TRIAL. FINALLY, I AGREE THAT I HAVE BEEN PROVIDED AN OPPORTUNITY TO SEEK THE ADVICE OF AN ATTORNEY OF MY CHOICE BEFORE SIGNING
THIS AGREEMENT. 
 10. General Provisions. 
 A. Governing Law; Consent to Personal Jurisdiction. This Agreement will be governed by the laws of the State of California. I hereby expressly consent to the personal jurisdiction of the state and
federal courts located in California for any lawsuit filed there against me by the Company arising from or relating to this Agreement. 
 B.
Entire Agreement. This Agreement sets forth the entire agreement and understanding between the Company and me relating to the subject matter herein and supersedes all prior discussions or representations between us including, but not limited
to, any representations made during my interview(s) or relocation negotiations, whether written or oral. No modification of or amendment to this Agreement, nor any waiver of any rights under this Agreement, will be effective unless in writing signed
by the President of the Company and me. Any subsequent change or changes in my duties, salary or compensation will not affect the validity or scope of this Agreement. 
 C. Severability. If one or more of the provisions in this Agreement are deemed void by law, then the remaining provisions will continue in full force and effect. 

D. Successors and Assigns. This Agreement will be binding upon my heirs, executors, administrators and other legal representatives and will be for
the benefit of the Company, its successors, and its assigns. 
 Dated this 31 day of March , 2008 

 

	
	EXECUTIVE:
	
	 /s/ Gregory Lang

	Gregory Lang

  

	
	Witness:
	
	 /s/ Alinka Flaminia

	Signature
	
	 Alinka Flaminia

	Name (typed or printed)

  
 C-6

 Schedule A 

to Confidential Information, Invention Assignment and Arbitration Agreement 

LIST OF PRIOR INVENTIONS 
 AND ORIGINAL WORKS OF AUTHORSHIP 
  

					
	 Title
	  	 Date
	  	 Identifying Number or

Brief Description

		  		  	
		  		  	
		  		  	
		  		  	
		  		  	

 X No inventions or improvements 
      Additional Sheets Attached 
  

			
	Signature of Employee:	 	 /s/ Gregory S. Lang

		
	Print Name of Employee:	 	 Gregory S. Lang

  

			
	Date:	 	 3/31/08

  
 C-7

 Schedule B 

to Confidential Information, Invention Assignment and Arbitration Agreement 

CALIFORNIA LABOR CODE SECTION 2870 
 INVENTION ON OWN TIME-EXEMPTION FROM AGREEMENT 
 “(a) Any provision in an employment
agreement which provides that an employee shall assign, or offer to assign, any of his or her rights in an invention to his or her employer shall not apply to an invention that the employee developed entirely on his or her own time without using the
employer’s equipment, supplies, facilities, or trade secret information except for those inventions that either: 
 (1) Relate at the time
of conception or reduction to practice of the invention to the employer’s business, or actual or demonstrably anticipated research or development of the employer; or 

 

	(2)	Result from any work performed by the employee for the employer. 

 (b) To the extent a provision in an employment agreement purports to require an employee to assign an invention otherwise excluded from being required to be assigned under subdivision (a), the provision
is against the public policy of this state and is unenforceable.” 

  
 C-8

 Schedule C 

to Confidential Information, Invention Assignment and Arbitration Agreement 

PMC-SIERRA, INC. 
 TERMINATION CERTIFICATION 
 This is to certify that I do not have in my possession, nor
have I failed to return, any devices, records, data, notes, reports, proposals, lists, correspondence, specifications, drawings, blueprints, sketches, materials, equipment, other documents or property, or reproductions of any aforementioned items
belonging to PMC-Sierra, Inc., its subsidiaries, affiliates, successors or assigns (together, the “Company”). 
 I further
certify that I have complied with all the terms of the Company’s Confidential Information, Invention Assignment and Arbitration Agreement signed by me, including the reporting of any inventions and original works of authorship (as defined
therein), conceived or made by me (solely or jointly with others) covered by that agreement. 
 I further agree that, in compliance with the
Confidential Information, Invention Assignment and Arbitration Agreement, I will preserve as confidential all trade secrets, confidential knowledge, data or other proprietary information relating to products, processes, know-how, designs, formulas,
developmental or experimental work, computer programs, data bases, other original works of authorship, customer lists, business plans, financial information or other subject matter pertaining to any business of the Company or any of its employees,
clients, consultants or licensees. 
 I further agree that for twelve (12) months from this date, I will not solicit, induce, recruit or
encourage any of the Company’s employees to leave their employment. 
 Date:
                      
  

	
	  

	(Employee’s Signature)
	  

	(Type/Print Employee’s Name)

  
 C-9

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