Document:

Severance and Change of Control Benefit Plan

 EXHIBIT 10.03 
 LEAPFROG ENTERPRISES, INC. 
 EXECUTIVE MANAGEMENT SEVERANCE 
 AND CHANGE
IN CONTROL BENEFIT PLAN 
  

	Section	1. INTRODUCTION. 

 The LeapFrog
Enterprises, Inc. Executive Management Severance and Change in Control Benefit Plan (the “Plan”) was established effective October 30, 2007. The purpose of the Plan is to provide for the payment of severance benefits to
certain eligible executive management employees of LeapFrog Enterprises, Inc. (the “Company”) and its subsidiaries (the “Subsidiaries”, referred to collectively with the Company as
“LeapFrog”) in the event that such employees are subject to qualifying employment terminations. This Plan shall supersede any severance benefit plan, policy or practice previously maintained by LeapFrog, other than
(i) the LeapFrog Enterprises, Inc. Senior Management Severance and Change in Control Benefit Plan, and (ii) an individually negotiated agreement relating to severance or change in control benefits that is in effect on an employee’s
termination date, in which case such employee’s severance benefit, if any, shall be governed by the terms of such individually negotiated agreement and shall be governed by this Plan only to the extent that the Plan Administrator, in its sole
discretion, so determines on a case by case basis, pursuant to Section 3(a) below. This Plan document also is the Summary Plan Description for the Plan. 
  

	Section	2. DEFINITIONS. 

 For purposes of the
Plan, the following terms are defined as follows: 
 (a) “Base Salary” means the Eligible Employee’s
annual base pay (excluding incentive pay, premium pay, commissions, overtime, bonuses and other forms of variable compensation). 
 (b) “Board” means the Board of Directors of the Company. 
 (c)
“Cause” means any of the following has occurred, as reasonably determined by the Company in good faith: 
 (i) the Eligible Employee is indicted for or convicted of any felony or crime involving moral turpitude or dishonesty; 
 (ii) the Eligible Employee participates in any fraud against LeapFrog; 
 (iii)
the Eligible Employee materially breaches any material provision of a written agreement with LeapFrog (including, without limitation, the Proprietary Information and Inventions Agreement) or of a written policy of LeapFrog, provided that, if such
breach is reasonably susceptible of cure, the Eligible Employee fails to cure such breach within a reasonable period of time (to be determined by the Company in its sole discretion) after receiving notice of such breach from the Company; 

 

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 (iv) the Eligible Employee engages in conduct that demonstrates unfitness to
serve; or 
 (v) the Eligible Employee breaches his or her duties to LeapFrog, including, without limitation,
persistent unsatisfactory performance of job duties; 
 An Eligible Employee’s disability or death shall not constitute Cause for
purposes of the Plan. 
 (d) “Change in Control” means the occurrence, in a single transaction or in a series
of related transactions, of any one or more of the following events: 
 (i) any Exchange Act Person (as defined in the
Company’s 2002 Equity Incentive Plan) (other than Larry Ellison, Michael Milken, Lowell Milken, or any combination of the foregoing), becomes the owner, directly or indirectly, of securities of the Company representing more than fifty percent
(50%) of the combined voting power of the Company’s then outstanding securities other than by virtue of a merger, consolidation or similar transaction; 
 (ii) there is consummated a merger, consolidation or similar transaction involving (directly or indirectly) the Company and,
immediately after the consummation of such merger, consolidation, or similar transaction, the stockholders of the Company immediately prior thereto do not own, directly or indirectly, outstanding voting securities representing more than fifty
percent (50%) of the combined voting power of the surviving entity in such merger, consolidation or similar transaction or more than fifty percent (50%) of the combined outstanding voting power of the parent of the surviving entity in such
merger, consolidation or similar transaction; 
 (iii) the stockholders of the Company approve or the Board approves a
plan of complete dissolution or liquidation of the Company; or 
 (iv) there is consummated a sale, lease, license or
other disposition of all or substantially all of the consolidated assets of the Company and its Subsidiaries, other than a sale, lease, license or other disposition of all or substantially all of the consolidated assets of the Company and its
Subsidiaries to an entity, more than fifty percent (50%) of the combined voting power of the voting securities of which are owned by stockholders of the Company in substantially the same proportions as their ownership of the Company immediately
prior to such sale, lease, license, or other disposition. 
 (e) “Code” means the Internal Revenue Code of
1986, as amended. 
 (f) “Company” means LeapFrog Enterprises, Inc. or, following a Change in Control, the
surviving entity resulting from such event. 
 (g) “Covered Termination” means (i) a termination by
LeapFrog without Cause or (ii) a Good Reason Resignation by the Eligible Employee. 
  

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 (h) “Eligible Employee” means an executive management employee of LeapFrog
who is designated in writing by the Company as an Eligible Employee entitled to benefits under this Plan upon a Covered Termination; provided, however, that the President and Chief Executive Officer of the Company shall not be eligible to
participate in the Plan unless specifically authorized by the Board or an authorized committee thereof. 
 (i)
“ERISA” means the Employee Retirement Income Security Act of 1974, as amended. 
 (j) “Good Reason
Resignation” means a voluntary termination of employment by an Eligible Employee within sixty (60) days after the occurrence of one of the following events without the Eligible Employee’s consent: 
 (i) a material diminution in the Eligible Employee’s authority, duties, or responsibilities; 
 (ii) a reduction in the Eligible Employee’s Base Salary in an amount greater than ten percent (10%) of the Eligible
Employee’s Base Salary prior to such reduction, unless the Base Salary of other similarly-situated employees of LeapFrog is reduced by at least the same percentage; 
 (iii) a change in the geographic location of the Eligible Employee’s workplace by more than fifty (50) miles from its
previous location; or 
 (iv) a material breach by LeapFrog of the agreement under which the Eligible Employee is
employed. 
 Prior to any Good Reason Resignation, the Eligible Employee must provide written notice to the Company of the existence of the
Good Reason event within thirty (30) days following the initial existence of the event, and the Company shall have a period of thirty (30) days following such notice to cure the event. If the event is cured within such time period, the
Eligible Employee shall not be entitled to terminate his or her employment pursuant to a Good Reason Resignation. 
  

	Section	3. ELIGIBILITY FOR BENEFITS. 

 (a) General Rules. Subject to Section 3(b), the Company will provide the severance benefits described in Section 4 to Eligible Employees whose employment has terminated pursuant to a Covered
Termination. Notwithstanding the foregoing, the severance benefits, if any, under the Plan of an Eligible Employee who has an individually negotiated agreement relating to severance or change in control benefits that is in effect on such Eligible
Employee’s termination date shall be determined by the Plan Administrator, in its sole discretion, on a case by case basis, such that a determination in the case of one Eligible Employee shall have no bearing on the determination in the case of
another Eligible Employee, even if similarly situated, and such determination may involve (i) the application of the severance benefits set forth in Section 4 with an offset reflecting the value of benefits under such individually
negotiated agreement, (ii) the disqualification of the Eligible Employee from any severance benefits under the Plan, or (iii) such other benefits as the Plan Administrator, in its sole discretion, may determine. 
  

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 (b) Exceptions to Benefit Entitlement. An employee, whether or not otherwise an Eligible
Employee, will not receive benefits under the Plan (or will receive reduced benefits under the Plan, as applicable) in the following circumstances, as determined by the Company in its sole discretion: 
 (i) The employee’s employment is terminated by LeapFrog for Cause. 
 (ii) The employee voluntarily terminates employment with LeapFrog and such termination does not constitute a Good Reason
Resignation. Voluntary terminations include, but are not limited to, resignation, retirement or failure to return from a leave of absence on the scheduled return date. 
 (iii) The employee voluntarily terminates employment with LeapFrog in order to accept employment with another entity that is wholly
or partly owned (directly or indirectly) by the Company or an affiliate of the Company. 
 (iv) The employee is offered
immediate reemployment by a successor to LeapFrog or by a purchaser of any of its assets, as the case may be, following a change in ownership of the Company or one or more of its Subsidiaries, or sale of all or substantially all the assets of the
Company or one or more of the Subsidiaries, or any division or business unit of LeapFrog. For purposes of the foregoing, “immediate reemployment” means that the employee’s employment with such successor or purchaser, as the case may
be, results in uninterrupted employment such that the employee does not suffer a lapse in pay as a result of the change in ownership or sale of assets. Notwithstanding the foregoing, even if such employee does not suffer a lapse in pay, if such
employee is otherwise an Eligible Employee and terminates employment pursuant to a Good Reason Resignation, the Eligible Employee shall be entitled to receive benefits under the Plan in accordance with Section 4. 
  

	Section	4. AMOUNT OF BENEFIT. 

 (a) Severance Payment. In the event of an Eligible Employee’s Covered Termination, the Eligible Employee shall be entitled to receive cash severance benefits equal to following: (i) the number
of months of Base Salary set forth in the second column of the table in Section 4(d)(i) or 4(d)(ii), as applicable (the “Base Severance”), and (ii) if the Covered Termination occurs during a Change in Control Period
(as defined below), a payment equal to the percentage of the Eligible Employee’s annual bonus at target (the “Target Bonus”) (as such Target Bonus is set forth in the employee’s governing employment agreement or
under the terms of the applicable bonus program for the calendar year in which the Eligible Employee’s Covered Termination occurs, as such agreement or program may be in effect at the time of such Covered Termination) as set forth in the third
column of the table in Section 4(d)(ii) (the “Bonus Severance”). The Base Severance and, if applicable, the Bonus Severance are intended to provide the Eligible Employee with compensation for the period following a
Covered Termination. Any bonus or other incentive compensation payable to the Eligible Employee for services rendered at any time prior to the date of the Covered Termination shall be determined in accordance with the terms of the applicable
employment agreement or bonus plan or program. The following shall apply for purposes of determining an Eligible Employee’s severance benefits: 
  

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 (i) If the Covered Termination does not occur during a Change in Control Period
(as defined below), the Base Severance shall be determined pursuant to Section 4(d)(i); 
 (ii) If the Covered
Termination occurs during the period beginning three (3) months before and ending twelve (12) months after a Change in Control (the “Change in Control Period”), the Base Severance and Bonus Severance shall be
determined pursuant to Section 4(d)(ii), and the Eligible Employee shall not be entitled to receive any benefits pursuant to Section 4(d)(i); and 
 (iii) The Eligible Employee’s Base Salary shall be determined at the rate in effect during the last regularly scheduled payroll period immediately preceding the date of the Eligible Employee’s Covered
Termination. 
 (b) Continued Insurance Benefits. Provided that an Eligible Employee elects continued coverage under the
Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), the Company shall pay the full amount of premiums for the Eligible Employee’s group medical, dental and vision coverage, including coverage for the
Eligible Employee’s eligible dependents, through the earlier of (i) the applicable number of months set forth in Section 4(d) following the Covered Termination (the “Severance Period”) or (ii) the date
that the Eligible Employee becomes eligible for group health coverage through a subsequent employer. Each Eligible Employee shall be required to notify the Company immediately if the Eligible Employee becomes eligible to be covered by a group
medical, dental or vision insurance plan of a subsequent employer. No provision of this Plan will affect the continuation coverage rules under COBRA, except that the Company’s payment of any applicable insurance premiums will be credited as
payment by the Eligible Employee for purposes of the Eligible Employee’s payment required under COBRA. Therefore, the period during which an Eligible Employee may elect whether or not to continue the Company’s group medical, dental or
vision coverage under COBRA, the length of time during which COBRA continuation coverage will be made available to the Eligible Employee, and all other rights and obligations of the Eligible Employee under COBRA will be applied in the same manner
that such rules would apply in the absence of this Plan. Upon the expiration of the period during which the Company will pay the premiums for the Eligible Employee’s coverage, the Eligible Employee will be responsible for the entire payment of
premiums required under COBRA for the duration of the COBRA continuation period. For purposes of this Section 4(b), (i) references to COBRA shall be deemed to refer also to analogous provisions of state law and (ii) any applicable
insurance premiums that are paid by the Company shall not include any amounts payable by the Eligible Employee under an Internal Revenue Code Section 125 health care reimbursement plan, which amounts, if any, are the sole responsibility of the
Eligible Employee. The following shall apply for purposes of determining the maximum number of months of premiums that the Company shall pay for the Eligible Employee’s coverage under COBRA pursuant to the foregoing: 
 (i) If the Covered Termination occurs outside of the Change in Control Period, the applicable number of months shall be determined
pursuant to Section 4(d)(i); 
  

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 (ii) If the Covered Termination occurs during the Change in Control Period, the
applicable number of months shall be determined pursuant to Section 4(d)(ii), and the Eligible Employee shall not be entitled to receive any benefits pursuant to Section 4(d)(i). 
 (c) Acceleration of Vesting. If an Eligible Employee’s Covered Termination occurs during the Change in Control Period, upon such
Covered Termination (i) the vesting and exercisability of all outstanding options to purchase the Company’s stock held by the Eligible Employee on such date shall be accelerated in full, and (ii) all other stock awards that are held
by the Eligible Employee on such date shall vest in full, and any reacquisition or repurchase rights held by the Company with respect to such stock awards shall lapse. Any such options shall remain exercisable by the Eligible Employee until the
period provided by the agreements evidencing such options, but in no event beyond the expiration date of such options. No accelerated vesting benefits will be provided if an Eligible Employee’s Covered Termination occurs outside of the Change
in Control Period. 
 (d) Amount of Benefits. 
 (i) Covered Termination Outside of the Change in Control Period. 
  

					
	 Base Severance
 (Months of
Base
 Salary)
	  	COBRA	  	Form of Payment
	 12
	  	12 months	  	Installments

 (ii) Covered Termination During the Change in Control Period. 

 

										
	 Base
 Severance
 (Months of
 Base
Salary)
	  	Bonus
Severance	 	COBRA	  	Equity
Acceleration	 	 	Form of
Payment
	 24
	  	200% of
 Target Bonus
	 	24 months	  	100	%	 	Lump Sum

  

	Section	5. TIME AND FORM OF SEVERANCE PAYMENTS. 

 (a) General Rules. Any cash severance benefits provided under this Plan shall be paid, consistent with the terms set forth in
Section 4(d)(i) or 4(d)(ii) (as applicable), in either a lump sum or in equal bi-monthly installments paid over the number of months in the Severance Period on the Company’s regularly scheduled payroll periods, with such payment(s)
occurring or commencing as soon as practicable following the effective date of the Eligible 

  

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Employee’s Covered Termination. Severance payments shall be paid subject to applicable withholding for federal, state and local taxes. In the event of
an Eligible Employee’s death, any cash severance benefits payable to such employee shall be made to his/her estate on the same payment schedule as would have occurred absent the Eligible Employee’s death. In no event shall payment of any
Plan benefit be made prior to the effective date of the Eligible Employee’s Covered Termination or prior to the effective date of the release described in Section 6(a). 
 (b) Application of Section 409A. Severance payments pursuant to Section 4(a), to the extent of payments made from the date of the
Covered Termination through March 15 of the calendar year following the Covered Termination, are intended to constitute separate payments for purposes of Section 1.409A-2(b)(2) of the Treasury Regulations and thus payable pursuant to the
“short-term deferral” rule set forth in Section 1.409A-1(b)(4) of the Treasury Regulations. To the extent such payments are made following said March 15, they are intended to constitute separate payments for purposes of
Section 1.409A-2(b)(2) of the Treasury Regulations made upon an involuntary termination from service and payable pursuant to Section 1.409A-1(b)(9)(iii) of the Treasury Regulations, to the maximum extent permitted by such provision, with
any excess amount being regarded as subject to the distribution requirements of Section 409A(a)(2)(A) of the Code, including, without limitation, the requirement of Section 409A(a)(2)(B)(i) of the Code that payment be delayed until six
(6) months after separation from service if the Eligible Employee is a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code at the time of such separation from service. 
  

	Section	6. LIMITATIONS ON BENEFITS. 

 (a) Release. In order to be eligible to receive benefits under the Plan, an Eligible Employee must execute a general waiver and release in substantially the form attached hereto as Exhibit A,
Exhibit B or Exhibit C, as appropriate, and such release must become effective in accordance with its terms. The Company, in its discretion, may modify the form of the required release to comply with applicable law and shall determine the
form of the required release, which may be incorporated into a termination agreement or other agreement with the Eligible Employee. 
 (b) Certain Reductions and Offsets. The Plan Administrator, in its sole discretion, shall have the authority to reduce an Eligible Employee’s severance benefits under the Plan, in whole or in part, by any other severance
benefits, pay in lieu of notice, or other similar benefits payable to the Eligible Employee by the Company that become payable in connection with the Eligible Employee’s termination of employment pursuant to (i) any applicable legal
requirement, including, without limitation, the Worker Adjustment and Retraining Notification Act (the “WARN Act”), or (ii) any Company policy or practice providing for the Eligible Employee to remain on the payroll for
a limited period of time after being given notice of the termination of the Eligible Employee’s employment. The benefits provided under this Plan are intended to satisfy, in whole or in part, any and all statutory obligations that may
arise out of an Eligible Employee’s termination of employment, and the Plan Administrator shall so construe and implement the terms of the Plan. The Plan Administrator’s decision to apply such reductions to the severance benefits of one
Eligible Employee and the amount of such reductions shall in no way obligate the Company to apply the same reductions in the same amounts to the severance benefits of any other Eligible Employee, even if similarly situated. In the Company’s
sole discretion, such reductions may be applied on a retroactive basis, with severance benefits previously paid being re-characterized as payments pursuant to the Company’s statutory obligation. 
  

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 (c) Mitigation. Except as otherwise specifically provided herein, an Eligible Employee
shall not be required to mitigate damages or the amount of any payment provided under this Plan by seeking other employment or otherwise, nor shall the amount of any payment provided for under this Plan be reduced by any compensation earned by an
Eligible Employee as a result of employment by another employer or any retirement benefits received by such Eligible Employee after the date of the Covered Termination. 
 (d) Termination of Benefits. Benefits under this Plan shall terminate immediately if the Eligible Employee, at any time, violates any proprietary information or confidentiality obligation to the Company.

 (e) Non-Duplication of Benefits. No Eligible Employee is eligible to receive benefits under this Plan more than one time.

 (f) Indebtedness of Eligible Employees. If a terminating employee is indebted to the Company or an affiliate of the Company at his
or her termination date, the Company reserves the right to offset any severance payments under the Plan by the amount of such indebtedness. 
 (g) Parachute Payments. If any payment or benefit an Eligible Employee would receive in connection with a Change in Control or otherwise (“Payment”) would (i) constitute a “parachute
payment” within the meaning of Section 280G of the Code, and (ii) but for this sentence, be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then such Payment shall be
equal to the Reduced Amount. 
 The “Reduced Amount” shall be either (x) the largest portion of the Payment that would result
in no portion of the Payment being subject to the Excise Tax or (y) the largest portion, up to and including the total, of the Payment, whichever amount, after taking into account all applicable federal, state and local employment taxes, income
taxes, and the Excise Tax (all computed at the highest applicable marginal rate), results in the Eligible Employee’s receipt, on an after-tax basis, of the greater amount of the Payment, notwithstanding that all or some portion of the Payment
may be subject to the Excise Tax. If a reduction in payments or benefits constituting “parachute payments” is necessary so that the Payment equals the Reduced Amount, reduction shall occur in the following order, unless the Eligible
Employee elects in writing a different order; provided, however, that such election shall be subject to Company approval if made on or after the effective date of the event that triggers the Payment: reduction of cash payments; cancellation
of accelerated vesting of stock options; reduction of employee benefits. In the event that acceleration of vesting of stock options is to be reduced, such acceleration of vesting shall be cancelled in the reverse order of the date of grant of such
options (i.e., earliest granted option cancelled last) unless the Eligible Employee elects in writing a different order for cancellation. 
  

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 The accounting firm engaged by the Company for general audit purposes as of the day prior to the
effective date of the Change in Control shall perform the foregoing calculations. If the accounting firm so engaged by the Company is serving as accountant or auditor for the individual, entity or group effecting the Change in Control, the Company
shall appoint a nationally recognized accounting firm to make the determinations required hereunder. The Company shall bear all expenses with respect to the determinations by such accounting firm required to be made hereunder. 
 The accounting firm engaged to make the determinations hereunder shall provide its calculations, together with detailed supporting documentation, to the
Company and the Eligible Employee within fifteen (15) calendar days after the date on which the Eligible Employee’s right to a Payment is triggered (if requested at that time by the Company or the Eligible Employee) or such other time as
requested by the Company or the Eligible Employee. If the accounting firm determines that no Excise Tax is payable with respect to a Payment, either before or after the application of the Reduced Amount, it shall furnish the Company and the Eligible
Employee with an opinion reasonably acceptable to the Eligible Employee that no Excise Tax will be imposed with respect to such Payment. Any good faith determinations of the accounting firm made hereunder shall be final, binding and conclusive upon
the Company and the Eligible Employee. 
  

	Section	7. RIGHT TO INTERPRET PLAN; AMENDMENT AND TERMINATION.

 (a) Exclusive Discretion. The Plan Administrator shall have the exclusive discretion and authority to establish
rules, forms, and procedures for the administration of the Plan and to construe and interpret the Plan and to decide any and all questions of fact, interpretation, definition, computation or administration arising in connection with the operation of
the Plan, including, but not limited to, the eligibility to participate in the Plan and amount of benefits paid under the Plan. The rules, interpretations, computations and other actions of the Plan Administrator shall be binding and conclusive on
all persons. 
 (b) Amendment or Termination. The Company reserves the right to amend or terminate this Plan or the benefits
provided hereunder at any time; provided, however, that during the Change in Control Period, the Plan may not be amended or terminated in any way to adversely affect any Eligible Employee’s benefits hereunder without such Eligible
Employee’s express written consent. Any action amending or terminating the Plan shall be in writing and executed by the Board or any duly authorized committee thereof. 
  

	Section	8. TERMINATION OF CERTAIN EMPLOYEE BENEFITS. 

 All non-health benefits (such as life insurance, disability and 401(k) plan coverage) terminate as of an Eligible Employee’s termination date (except
to the extent that a conversion privilege may be available thereunder). 
  

	Section	9. NO IMPLIED EMPLOYMENT CONTRACT. 

 The Plan shall not be deemed (i) to give any employee or other person any right to be retained in the employ of the Company or (ii) to interfere
with the right of the Company to discharge any employee or other person at any time, with or without cause, which right is hereby reserved. 
  

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	Section	10. LEGAL CONSTRUCTION. 

 This Plan is intended to be governed by and shall be construed in accordance with ERISA and, to the extent not preempted by ERISA, the laws of the State of California. 
  

	Section	11. CLAIMS, INQUIRIES AND APPEALS. 

 (a) Applications for Benefits and Inquiries. Any application for benefits, inquiries about the Plan or inquiries about present or future
rights under the Plan must be submitted to the Plan Administrator in writing by an applicant (or his or her authorized representative). The Plan Administrator is: 
 LeapFrog Enterprises, Inc. 
 6401 Hollis Street, Suite 100 
 Emeryville, CA 94608 
 (b) Denial of
Claims. In the event that any application for benefits is denied in whole or in part, the Plan Administrator must provide the applicant with written or electronic notice of the denial of the application, and of the applicant’s right to
review the denial. Any electronic notice will comply with the regulations of the U.S. Department of Labor. The notice of denial will be set forth in a manner designed to be understood by the applicant and will include the following: 
 (i) the specific reason or reasons for the denial; 
 (ii) references to the specific Plan provisions upon which the denial is based; 
 (iii) a description of any additional information or material that the Plan Administrator needs to complete the review and an
explanation of why such information or material is necessary; and 
 (iv) an explanation of the Plan’s review
procedures and the time limits applicable to such procedures, including a statement of the applicant’s right to bring a civil action under Section 502(a) of ERISA following a denial on review of the claim, as described in
Section 11(d) below. 
 This notice of denial will be given to the applicant within ninety (90) days after the Plan Administrator
receives the application, unless special circumstances require an extension of time, in which case, the Plan Administrator has up to an additional ninety (90) days for processing the application. If an extension of time for processing is
required, written notice of the extension will be furnished to the applicant before the end of the initial ninety (90) day period. 
  

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 This notice of extension will describe the special circumstances necessitating the additional time and
the date by which the Plan Administrator is to render its decision on the application. 
 (c) Request for a Review. Any person
(or that person’s authorized representative) for whom an application for benefits is denied, in whole or in part, may appeal the denial by submitting a request for a review to the Plan Administrator within sixty (60) days after the
application is denied. A request for a review shall be in writing and shall be addressed to: 
 LeapFrog Enterprises, Inc. 
 6401 Hollis Street, Suite 100 
 Emeryville, CA
94608 
 A request for review must set forth all of the grounds on which it is based, all facts in support of the request and any other matters that the
applicant feels are pertinent. The applicant (or his or her representative) shall have the opportunity to submit (or the Plan Administrator may require the applicant to submit) written comments, documents, records, and other information relating to
his or her claim. The applicant (or his or her representative) shall be provided, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant to his or her claim. The review shall take
into account all comments, documents, records and other information submitted by the applicant (or his or her representative) relating to the claim, without regard to whether such information was submitted or considered in the initial benefit
determination. 
 (d) Decision on Review. The Plan Administrator will act on each request for review within sixty
(60) days after receipt of the request, unless special circumstances require an extension of time (not to exceed an additional sixty (60) days), for processing the request for a review. If an extension for review is required, written
notice of the extension will be furnished to the applicant within the initial sixty (60) day period. This notice of extension will describe the special circumstances necessitating the additional time and the date by which the Plan Administrator
is to render its decision on the review. The Plan Administrator will give prompt, written or electronic notice of its decision to the applicant. Any electronic notice will comply with the regulations of the U.S. Department of Labor. In the event
that the Plan Administrator confirms the denial of the application for benefits in whole or in part, the notice will set forth, in a manner calculated to be understood by the applicant, the following: 
 (i) the specific reason or reasons for the denial; 
 (ii) references to the specific Plan provisions upon which the denial is based; 
 (iii) a statement that the applicant is entitled to receive, upon request and free of charge, reasonable access to, and copies of,
all documents, records and other information relevant to his or her claim; and 
 (iv) a statement of the
applicant’s right to bring a civil action under Section 502(a) of ERISA. 
  

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 (e) Rules and Procedures. The Plan Administrator will establish rules and
procedures, consistent with the Plan and with ERISA, as necessary and appropriate in carrying out its responsibilities in reviewing benefit claims. The Plan Administrator may require an applicant who wishes to submit additional information in
connection with an appeal from the denial of benefits to do so at the applicant’s own expense. 
 (f)
Exhaustion of Remedies. No legal action for benefits under the Plan may be brought until the applicant (i) has submitted a written application for benefits in accordance with the procedures described by Section 11(a) above,
(ii) has been notified by the Plan Administrator that the application is denied, (iii) has filed a written request for a review of the application in accordance with the appeal procedure described in Section 11(c) above, and
(iv) has been notified that the Plan Administrator has denied the appeal. Notwithstanding the foregoing, if the Plan Administrator does not respond to a participant’s claim or appeal within the relevant time limits specified in this
Section 11, the participant may bring legal action for benefits under the Plan pursuant to Section 502(a) of ERISA. 
  

	Section	12. BASIS OF PAYMENTS TO AND FROM PLAN. 

 The Plan shall be unfunded, and all cash payments under the Plan shall be paid only from the general assets of the Company. 
  

	Section	13. OTHER PLAN INFORMATION. 

 (a) Employer and Plan Identification Numbers. The Employer Identification Number assigned to the Company (which is the “Plan Sponsor” as that term is used in ERISA) by the Internal Revenue
Service is 95-4652013. The Plan Number assigned to the Plan by the Plan Sponsor pursuant to the instructions of the Internal Revenue Service is 510. 
 (b) Ending Date for Plan’s Fiscal Year. The date of the end of the fiscal year for the purpose of maintaining the Plan’s records is December 31. 
 (c) Agent for the Service of Legal Process. The agent for the service of legal process with respect to the Plan is: 
 LeapFrog Enterprises, Inc. 
 6401 Hollis
Street, Suite 100 
 Emeryville, CA 94608 
 (d) Plan Sponsor and Administrator. The “Plan Sponsor” and the “Plan Administrator” of the Plan is: 
 LeapFrog Enterprises, Inc. 
 6401 Hollis Street, Suite 100 
 Emeryville, CA 94608 
 The Plan Sponsor’s and Plan Administrator’s telephone
number is (510) 420-5000. The Plan Administrator is the named fiduciary charged with the responsibility for administering the Plan. 
  

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	Section	14. STATEMENT OF ERISA RIGHTS. 

 Participants in this Plan (which is a welfare benefit plan sponsored by LeapFrog Enterprises, Inc.) are entitled to certain rights and protections under ERISA. If you are an Eligible Employee, you are considered a
participant in the Plan and, under ERISA, you are entitled to: 
 (a) Receive Information About Your Plan and Benefits 
 (i) Examine, without charge, at the Plan Administrator’s office and at other specified locations, such as worksites, all
documents governing the Plan and a copy of the latest annual report (Form 5500 Series), if applicable, filed by the Plan with the U.S. Department of Labor and available at the Public Disclosure Room of the Employee Benefits Security Administration;

 (ii) Obtain, upon written request to the Plan Administrator, copies of documents governing the operation of the Plan
and copies of the latest annual report (Form 5500 Series), if applicable, and an updated (as necessary) Summary Plan Description. The Administrator may make a reasonable charge for the copies; and 
 (iii) Receive a summary of the Plan’s annual financial report, if applicable. The Plan Administrator is required by law to
furnish each participant with a copy of this summary annual report. 
 (b) Prudent Actions by Plan Fiduciaries. In addition to
creating rights for Plan participants, ERISA imposes duties upon the people who are responsible for the operation of the employee benefit plan. The people who operate the Plan, called “fiduciaries” of the Plan, have a duty to do so
prudently and in the interest of you and other Plan participants and beneficiaries. No one, including your employer, your union or any other person, may fire you or otherwise discriminate against you in any way to prevent you from obtaining a Plan
benefit or exercising your rights under ERISA. 
 (c) Enforce Your Rights. If your claim for a Plan benefit is denied or
ignored, in whole or in part, you have a right to know why this was done, to obtain copies of documents relating to the decision without charge, and to appeal any denial, all within certain time schedules. 
 Under ERISA, there are steps you can take to enforce the above rights. For instance, if you request a copy of Plan documents or the latest annual report
from the Plan, if applicable, and do not receive them within 30 days, you may file suit in a Federal court. In such a case, the court may require the Plan Administrator to provide the materials and pay you up to $110 a day until you receive the
materials, unless the materials were not sent because of reasons beyond the control of the Plan Administrator. 
 If you have a claim for
benefits which is denied or ignored, in whole or in part, you may file suit in a state or Federal court. 
  

 13 

 If you are discriminated against for asserting your rights, you may seek assistance from the U.S.
Department of Labor, or you may file suit in a Federal court. The court will decide who should pay court costs and legal fees. If you are successful, the court may order the person you have sued to pay these costs and fees. If you lose, the court
may order you to pay these costs and fees, for example, if it finds your claim is frivolous. 
 (d) Assistance with Your Questions.
If you have any questions about the Plan, you should contact the Plan Administrator. If you have any questions about this statement or about your rights under ERISA, or if you need assistance in obtaining documents from the Plan Administrator,
you should contact the nearest office of the Employee Benefits Security Administration, U.S. Department of Labor, listed in your telephone directory or the Division of Technical Assistance and Inquiries, Employee Benefits Security Administration,
U.S. Department of Labor, 200 Constitution Avenue N.W., Washington, D.C. 20210. You may also obtain certain publications about your rights and responsibilities under ERISA by calling the publications hotline of the Employee Benefits Security
Administration. 
  

	Section	15. EXECUTION. 

 To record the
adoption of the Plan as set forth herein, effective as of October 30, 2007, LeapFrog Enterprises, Inc. has caused its duly authorized officer to execute the same this 2nd day of November, 2007. 
  

			
	LEAPFROG ENTERPRISES, INC.
		
	By:	 	/s/ Jeffrey G. Katz
	Title:	 	CEO and President

  

 14 

 For Employees Under Age 40 or Older 
 Individual Termination 
  

 EXHIBIT A 
 RELEASE AGREEMENT 
 I understand and agree completely to the terms set forth
in the LeapFrog Enterprises, Inc. Executive Management Severance and Change in Control Benefit Plan (the “Plan”). 
 I understand that this Release, together with the Plan, constitutes the complete, final and exclusive embodiment of the entire agreement between LeapFrog Enterprises, Inc. (the “Company”) and
me with regard to the subject matter hereof. I am not relying on any promise or representation by the Company that is not expressly stated therein. Certain capitalized terms used in this Release are defined in the Plan. 
 I hereby confirm my obligations under my Employee Proprietary Information and Inventions Agreement. 
 I hereby represent that I have been paid all compensation owed and for all hours worked, have received all the leave and leave benefits and protections
for which I am eligible, pursuant to the Family and Medical Leave Act or otherwise, and have not suffered any on-the-job injury for which I have not already filed a claim. 
 In exchange for the consideration to be provided to me under the Plan that I am not otherwise entitled to receive, I hereby generally and completely
release the Company, its predecessors, successors, parent and subsidiary entities, and each of their current and former directors, officers, employees, shareholders, partners, agents, attorneys, insurers, affiliates, and assigns from any and all
claims, liabilities and obligations, both known and unknown, that arise out of or are in any way related to events, acts, conduct, or omissions occurring prior to my signing this Release. This general release includes, but is not limited to:
(a) all claims arising out of or in any way related to my employment with the Company or the termination of that employment; (b) all claims related to my compensation or benefits from the Company, including salary, bonuses, commissions,
vacation pay, expense reimbursements, severance pay, fringe benefits, stock, stock options, or any other ownership interests in the Company; (c) all claims for breach of contract, wrongful termination, and breach of the implied covenant of good
faith and fair dealing; (d) all tort claims, including claims for fraud, defamation, emotional distress, and discharge in violation of public policy; and (e) all federal, state, and local statutory claims, including claims for
discrimination, harassment, retaliation, attorneys’ fees, or other claims arising under the federal Civil Rights Act of 1964 (as amended), the federal Americans with Disabilities Act of 1990, and the federal Age Discrimination in Employment Act
of 1967 (as amended) (“ADEA”). Nothing in this Release shall prevent me from challenging this Release by filing, cooperating with, or participating in any proceeding before the Equal Employment Opportunity Commission, the
Department of Labor, or any local fair employment practices agency, except that I hereby acknowledge and agree that I shall not recover any monetary benefits in connection with any challenge to my Release. 
  

 1 

 For Employees Under Age 40 or Older 
 Individual Termination 
  

 I acknowledge that I am knowingly and voluntarily waiving and releasing any rights I may have under
the ADEA (“ADEA Waiver”). I also acknowledge that the consideration given for the ADEA Waiver is in addition to anything of value to which I was already entitled. I further acknowledge that I have been advised by this
writing, as required by the ADEA, that: (a) my ADEA Waiver does not apply to any rights or claims that arise after the date I sign this Release; (b) I should consult with an attorney prior to signing this Release; (c) I have
twenty-one (21) days to consider this Release (although I may choose to voluntarily sign it sooner); (d) I have seven (7) days following the date I sign this Release to revoke the ADEA Waiver; and (e) the ADEA Waiver (and this
Release) will not be effective until the date upon which the revocation period has expired unexercised, which will be the eighth day after I sign this Release. 
 I acknowledge that I have read and understand Section 1542 of the California Civil Code which reads as follows: “A general release does not extend to claims which the creditor does not know or suspect to
exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.” I hereby expressly waive and relinquish all rights and benefits under that
section and any law of any jurisdiction of similar effect with respect to my release of any claims hereunder. 
 I acknowledge that to become
effective, I must sign and return this Release to the Company so that it is received not later than twenty-one (21) days following the date it is provided to me, and must not revoke the ADEA Waiver. 
  

			
	EMPLOYEE
		
	Name:	 	 
	Date:	 	 

  

 2 

 For Employees Age 40 or Older 
 Group Termination 
  

 EXHIBIT B 
 RELEASE AGREEMENT 
 I understand and agree completely to the terms set forth
in the LeapFrog Enterprises, Inc. Executive Management Severance and Change in Control Benefit Plan (the “Plan”). 
 I understand that this Release, together with the Plan, constitutes the complete, final and exclusive embodiment of the entire agreement between LeapFrog Enterprises, Inc. (the “Company”) and
me with regard to the subject matter hereof. I am not relying on any promise or representation by the Company that is not expressly stated therein. Certain capitalized terms used in this Release are defined in the Plan. 
 I hereby confirm my obligations under my Employee Proprietary Information and Inventions Agreement. 
 I hereby represent that I have been paid all compensation owed and for all hours worked, have received all the leave and leave benefits and protections
for which I am eligible, pursuant to the Family and Medical Leave Act or otherwise, and have not suffered any on-the-job injury for which I have not already filed a claim. 
 In exchange for the consideration to be provided to me under the Plan that I am not otherwise entitled to receive, I hereby generally and completely
release the Company, its predecessors, successors, parent and subsidiary entities, and each of their current and former directors, officers, employees, shareholders, partners, agents, attorneys, insurers, affiliates, and assigns from any and all
claims, liabilities and obligations, both known and unknown, that arise out of or are in any way related to events, acts, conduct, or omissions occurring prior to my signing this Release. This general release includes, but is not limited to:
(a) all claims arising out of or in any way related to my employment with the Company or the termination of that employment; (b) all claims related to my compensation or benefits from the Company, including salary, bonuses, commissions,
vacation pay, expense reimbursements, severance pay, fringe benefits, stock, stock options, or any other ownership interests in the Company; (c) all claims for breach of contract, wrongful termination, and breach of the implied covenant of good
faith and fair dealing; (d) all tort claims, including claims for fraud, defamation, emotional distress, and discharge in violation of public policy; and (e) all federal, state, and local statutory claims, including claims for
discrimination, harassment, retaliation, attorneys’ fees, or other claims arising under the federal Civil Rights Act of 1964 (as amended), the federal Americans with Disabilities Act of 1990, and the federal Age Discrimination in Employment Act
of 1967 (as amended) (“ADEA”). Nothing in this Release shall prevent me from challenging this Release by filing, cooperating with, or participating in any proceeding before the Equal Employment Opportunity Commission, the
Department of Labor, or any local fair employment practices agency, except that I hereby acknowledge and agree that I shall not recover any monetary benefits in connection with any challenge to my Release. 
  

 1 

 For Employees Age 40 or Older 
 Group Termination 
  

 I acknowledge that I am knowingly and voluntarily waiving and releasing any rights I may have under
the ADEA (“ADEA Waiver”). I also acknowledge that the consideration given for the ADEA Waiver is in addition to anything of value to which I was already entitled. I further acknowledge that I have been advised by this
writing, as required by the ADEA, that: (a) my ADEA Waiver does not apply to any rights or claims that arise after the date I sign this Release; (b) I should consult with an attorney prior to signing this Release; (c) I have
forty-five (45) days to consider this Release (although I may choose to voluntarily sign it sooner); (d) I have seven (7) days following the date I sign this Release to revoke the ADEA Waiver; and (e) the ADEA Waiver (and this
Release) will not be effective until the date upon which the revocation period has expired unexercised, which will be the eighth day after I sign this Release. 
 I have received with this Release a written disclosure of all of the information required by the ADEA, including without limitation a detailed list of the job titles and ages of all employees who were terminated in
this group termination and the ages of all employees of the Company in the same job classification or organizational unit who were not terminated, along with information on the eligibility factors used to select employees for the group termination
and any time limits applicable to this group termination program. 
 I acknowledge that I have read and understand Section 1542 of the
California Civil Code which reads as follows: “A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have
materially affected his or her settlement with the debtor.” I hereby expressly waive and relinquish all rights and benefits under that section and any law of any jurisdiction of similar effect with respect to my release of any claims
hereunder. 
 I acknowledge that to become effective, I must sign and return this Release to the Company so that it is received not later
than forty-five (45) days following the date this Release and the ADEA disclosure form is provided to me, and must not revoke the ADEA Waiver. 
  

			
	EMPLOYEE
		
	Name:	 	 
	Date:	 	 

  

 2 

 For Employees Under Age 40 
 Individual and Group Termination 
  

 EXHIBIT C 
 RELEASE AGREEMENT 
 I understand and agree completely to the terms set forth
in the LeapFrog Enterprises, Inc. Executive Management Severance and Change in Control Benefit Plan (the “Plan”). 
 I understand that this Release, together with the Plan, constitutes the complete, final and exclusive embodiment of the entire agreement between LeapFrog Enterprises, Inc. (the “Company”) and
me with regard to the subject matter hereof. I am not relying on any promise or representation by the Company that is not expressly stated therein. Certain capitalized terms used in this Release are defined in the Plan. 
 I hereby confirm my obligations under my Employee Proprietary Information and Inventions Agreement. 
 I hereby represent that I have been paid all compensation owed and for all hours worked, have received all the leave and leave benefits and protections
for which I am eligible, pursuant to the Family and Medical Leave Act or otherwise, and have not suffered any on-the-job injury for which I have not already filed a claim. 
 In exchange for the consideration to be provided to me under the Plan that I am not otherwise entitled to receive, I hereby generally and completely
release the Company, its predecessors, successors, parent and subsidiary entities, and each of their current and former directors, officers, employees, shareholders, partners, agents, attorneys, insurers, affiliates, and assigns from any and all
claims, liabilities and obligations, both known and unknown, that arise out of or are in any way related to events, acts, conduct, or omissions occurring prior to my signing this Release. This general release includes, but is not limited to:
(a) all claims arising out of or in any way related to my employment with the Company or the termination of that employment; (b) all claims related to my compensation or benefits from the Company, including salary, bonuses, commissions,
vacation pay, expense reimbursements, severance pay, fringe benefits, stock, stock options, or any other ownership interests in the Company; (c) all claims for breach of contract, wrongful termination, and breach of the implied covenant of good
faith and fair dealing; (d) all tort claims, including claims for fraud, defamation, emotional distress, and discharge in violation of public policy; and (e) all federal, state, and local statutory claims, including claims for
discrimination, harassment, retaliation, attorneys’ fees, or other claims arising under the federal Civil Rights Act of 1964 (as amended), and the federal Americans with Disabilities Act of 1990. Nothing in this Release shall prevent me from
challenging this Release by filing, cooperating with, or participating in any proceeding before the Equal Employment Opportunity Commission, the Department of Labor, or any local fair employment practices agency, except that I hereby acknowledge and
agree that I shall not recover any monetary benefits in connection with any challenge to my Release. 
  

 1 

 For Employees Under Age 40 
 Individual and Group Termination 
  

 I acknowledge that I have read and understand Section 1542 of the California Civil Code which
reads as follows: “A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or
her settlement with the debtor.” I hereby expressly waive and relinquish all rights and benefits under that section and any law of any jurisdiction of similar effect with respect to my release of any claims hereunder. 
 I acknowledge that to become effective, I must sign and return this Release to the Company so that it is received not later than fourteen (14) days
following the date it is provided to me. 
  

			
	EMPLOYEE
		
	Name:	 	 
	Date:	 	 

  

 2Employment Agreement

 Exhibit 10.1 
 EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT AGREEMENT (“Agreement”) is made and entered
into as of November 2, 2007 by and between Novatel Wireless, Inc., a Delaware corporation (the “Company”), and Peter V. Leparulo (“Executive”). 
 RECITALS 
 A. The Company employed Executive on an “at will” basis
beginning September 29, 2000. 
 B. The Company elevated Executive to the position of Chief Executive Officer on January 13, 2003
and to the position of Executive Chairman on November 17, 2006. 
 C. The Company now desires to obtain the benefit of continued
services by Executive as the Company’s Executive Chairman and to employ Executive on a contract basis and to enter into an agreement embodying the terms of such employment. 
 AGREEMENT 
 NOW THEREFORE, in consideration of the foregoing recitals, the
mutual promises and covenants contained herein, and for other good and valuable consideration, the receipt and adequacy of which are mutually acknowledged, the Company and Executive agree as follows: 
 1. Employment and Duties. During the Employment Period (as defined in Section 2.2 below), Executive shall serve as Executive Chairman of the
Company, reporting solely to the Company’s Board of Directors (the “Board”), and Executive shall be a member of the Board. In such capacity, Executive shall be the highest-ranking and most senior officer of the Company, with
overall management responsibility for, and overall management authority over, the business and affairs of the Company. The duties, authority and responsibilities of Executive shall be the usual and customary duties, authority and responsibilities of
the offices in which Executive shall serve. Executive shall have such executive power and authority as shall reasonably be required to enable him to discharge his duties in the offices which he may hold. The Company shall use its best efforts to
nominate and cause Executive to be elected as follows: (i) to the Board, and (ii) as sole Chairman of the Board. 
 2. Term and
Termination. 
 2.1 Effective Date. This Agreement shall be effective as of the date this Agreement is entered into
by the Company and Executive, as set forth above (the “Effective Date”). 
 2.2 Employment Period.
Subject to the provisions of this Agreement, the initial term of this Agreement shall begin on the Effective Date and shall terminate on the third anniversary of the Effective Date (the “Initial Term”). Effective on the expiration
of the Initial Term and of each Additional Term (as hereinafter defined), this Agreement shall automatically renew for a period of one (1) year (each, an “Additional Term”), in each case, commencing on the expiration of the
Initial Term or the then current 

 
Additional Term, as the case may be, unless any party provides written notice of non-renewal to the other party at least sixty (60) calendar days prior
to the expiration of the Initial Term or such Additional Term, or unless earlier terminated by either party pursuant to the terms of this Agreement. The Initial Term and each Additional Term shall be referred to herein as the “Employment
Period.” 
 2.3 Early Termination by Company for Cause. The Company may terminate Executive’s employment
for Cause (as hereinafter defined) by giving Executive sixty (60) days’ advance Notice of Termination (as hereinafter defined) in writing. For all purposes under this Agreement, the term “Cause” shall mean: 
 (i) Any willful gross misconduct by Executive that is materially adverse to the Company; 
 (ii) A willful violation of a federal or state law, rule or regulation by Executive applicable to the business of the Company that
is materially adverse to the Company; 
 (iii) The conviction of Executive of, or entry by Executive of a guilty or no
contest plea to, a felony; or 
 (iv) Any willful, material breach of material terms and provisions of this Agreement.

 For purposes of this Section 2.3, no act or failure to act by Executive shall be considered “willful” unless committed in bad faith and
without a reasonable belief that the act or omission was in the best interests of the Company. 
 Executive shall not be deemed terminated for Cause pursuant
to this Section 2.3 unless the Executive has been given (a) written notice from the Board specifying the manner in which the Board believes Executive has violated this Section 2.3, (b) a reasonable opportunity (not less than
fifteen (15) calendar days following receipt of such notice) to cure such event or condition (to the extent subject to cure), (c) an opportunity for Executive, together with Executive’s counsel, to be heard before the Board, and
(d) a copy of a resolution duly adopted by the affirmative vote of not less than a majority of the entire membership of the Board finding that in the Board’s good faith opinion Executive engaged in the conduct specified in such notice. No
act or failure to act by Executive shall be considered Cause if Executive cures or remedies it by the end of the cure period referred to in clause (b). Any waiver of the notice required by this Section 2.3 shall be valid only if it is made by
Executive in writing and expressly refers to the applicable notice requirement of this Section 2.3. 
 If the Company terminates this Agreement for
Cause, the Company shall pay or provide Executive (x) the Accrued Obligations (as defined below) in a lump sum in cash within thirty (30) days after the Date of Termination (as defined in Section 2.9), and (y) directors’ and
officers’ liability insurance, as provided in Section 11.1.1(iv). 
 “Accrued Obligations” shall mean the sum of (A) the
Executive’s Base Salary through the Date of Termination to the extent not theretofore paid, (B) the amount of any bonus, incentive compensation, deferred compensation and other cash compensation payable to the Executive as of the Date of
Termination and not theretofore paid, and other unpaid amounts or benefits due under Company 

 
compensation, incentive, severance and benefit plans, and (C) any vacation pay, expense reimbursements and other cash entitlements payable to the
Executive to the extent not theretofore paid. Executive’s rights under the severance and benefit plans of the Company shall be determined under the provisions of those plans. An amount shall be deemed payable if the Executive has provided the
services for which the payment is being made, ignoring any service required following the end of the period to which the payment relates through the date of payment (therefore, for example, if the Executive terminates in the second month of a bonus
period, before the bonus for the prior year is paid, the Executive would be entitled to the prior year’s bonus and a pro-rated portion of the current year’s bonus). Whenever Accrued Obligations are payable under this Agreement, they shall
be paid in a lump sum in cash within thirty (30) days after the Date of Termination except as follows: If the time for payment (but for termination) is more than 1 year hence, the payment will be made when due without regard to termination.
Payments will not be accelerated to the extent that would violate Internal Revenue Code Section 409A or any other Internal Revenue Code provision. If the program permits Executive to determine the time of payment following termination of
employment, Executive shall determine the time of payment in accordance with the program’s terms. If the benefit is an expense reimbursement, group insurance, or an in kind benefit it will be provided in accordance with its terms, except as
provided in Section 6.3. If the law establishes the time for payment (e.g., unpaid wages or vacation pay), the payment shall be made as required by law. 
 2.4 Early Termination by Company without Cause. The Company may terminate Executive’s employment prior to the end of the
Employment Period for any reason other than for Cause only by giving Executive sixty (60) days’ advance Notice of Termination in writing. Any waiver of notice shall be valid only if it is made in writing and expressly refers to the
applicable notice requirement of this Section 2.4. If the Company terminates Executive’s employment prior to the end of the Employment Period pursuant to this Section 2.4 for any reason other than Cause, death or Disability (as
defined in Section 2.5), then the Company shall pay Executive (A) the Accrued Obligations, (B) the payments and benefits set forth in Section 11.1.1 below (subject to the terms and conditions of said Section), and
Executive’s rights under the benefit plans shall be determined under the provisions of those plans, and (C) to the extent not included in (B), a Bonus equal to the Target Amount for the fiscal year of termination in a lump sum in cash
within thirty (30) days after the Date of Termination. 
 2.5 Early Termination on Account of Death or Disability.
If Executive’s employment is terminated by his Disability or death, the Company shall pay Executive or his Beneficiary (as defined in Section 15) the Accrued Obligations (which includes the unpaid Bonus for a completed fiscal year of
service), and Executive (or his Beneficiary with respect to Executive) and shall remain protected by directors’ and officers’ liability insurance as provided in Section 11.1.1(iv). The Company also shall pay Executive or, if he has
died, his Beneficiary a Bonus equal to the Target Amount for the fiscal year of termination in a lump sum in cash within thirty (30) days after the Date of Termination. Executive’s right in the event of a Disability and the rights of the
Beneficiary in the event of Executive’s death under the benefit plans shall be determined under the provisions of those plans. For all purposes under this Agreement, the term “Disability” shall mean a physical or mental illness,
injury, or condition that prevents Executive from performing substantially all of his duties under this Agreement for at least 120 consecutive calendar days or 180 nonconsecutive calendar days in any twelve (12) month period. 

 2.6 Early Termination by Executive for Good Reason. Executive may voluntarily
elect to resign his employment with the Company prior to the end of the Employment Period for Good Reason (as hereinafter defined) upon giving the Company sixty (60) days’ advance written Notice of Termination, specifying the Good Reason
events for which Executive is resigning. No event shall constitute Good Reason if it is curable and the Company cures it within fifteen (15) calendar days following receipt of such notice. Executive’s continued employment for up to two
years following an event that constitutes Good Reason will not be deemed to be his consent to that event or his waiver of his right to resign because of it under this section; thereafter, the event shall cease to be Good Reason. 
 If Executive terminates his employment for Good Reason, the Company shall pay or provide Executive the payments, benefits, acceleration of vesting, etc., he would have
received under Section 2.4, and at the same time, had he been terminated by the Company without Cause. 
 For all purposes of this Agreement, the term
“Good Reason” means the occurrence, announcement, or notification to Executive of, any one or more of the following events, excluding any event to which the Executive has consented in advance in writing specifically referencing this
section of this Agreement: 
 (i) Any material diminution or adverse alteration of, or assignment to Executive of
duties inconsistent in any material respect with, Executive’s position in the Company (which shall include status, offices, titles, authority, duties or reporting relationships) or the terms and conditions of employment, in each case, as
contemplated by this Agreement and including by virtue of the Company’s ceasing to be a publicly traded corporation or becoming a subsidiary of another company; 
 (ii) Any reduction in the Base Salary then payable to, or bonus opportunity then available to, Executive or a failure by the
Company to pay any such amounts when due; 
 (iii) A reduction in the kind or level of employee benefits to which
Executive is then entitled, with the result that Executive’s overall benefits package is materially reduced, or the Company’s failure to continue in effect compensation and employee benefits which are substantially similar to the benefits
provided to Executive under the Company’s regular compensation and benefit plans and practices in effect as of the date of this Agreement, or the Company’s failure to continue Executive’s participation therein on a basis not
materially less favorable, both in terms of the amount of benefits provided and Executive’s level of participation relative to other participants, as existed as of the date of this Agreement; 
 (iv) A workplace relocation that increases Executive’s regular commuting distance by more than forty (40) miles;

 (v) Any purported termination by the Company of Executive’s employment which is not effected for death,
Disability or for Cause, or any purported termination by the Company of Executive’s employment otherwise than expressly permitted by this Agreement; 

 (vi) Any material failure by the Company to comply with any provision of this
Agreement applicable to it, including without limitation, the failure by the Company to comply with any of the provisions of Sections 4 or 5 or the failure of the Company to obtain the assumption of this Agreement by its successor as required by
Section 14 hereof; 
 (vii) The Company’s breach of this Agreement or any other agreement with Executive,
including without limitation, the Company’s failure to provide Executive any employee benefits to which he is due, to satisfy its Section 24 indemnification obligations, or its breach of any stock option, restricted stock, or other
agreements pursuant to which the options or any other equity securities were issued by the Company to Executive; or 
 (viii) Failure by the Company to elect Executive to the position of sole Chairman of the Board of Directors, as contemplated in Section 1 hereof. 
 2.7 Early Termination by Executive for Other than Good Reason. Executive may voluntarily elect to resign his employment with the
Company prior to the end of the Employment Period for any reason upon sixty (60) days advance Notice of Termination, and such termination shall not be, nor shall it be deemed to be, a breach of this Agreement. Upon such termination, the Company
shall pay or provide Executive (a) the Accrued Obligations, (b) directors’ and officers’ liability insurance as provided in Section 11.1.1(iv), and (c) a Bonus equal to the Target Amount for the fiscal year of
termination prorated for the number of calendar days that Executive was employed during the fiscal year to be paid within thirty (30) days after the Date of Termination. Executive’s rights under the benefit plans of the Company shall be
determined under the provisions of those plans. 
 2.8 Notice of Termination. Any purported termination of
Executive’s employment by the Company or by Executive (other than termination due to Executive’s death, which shall terminate Executive’s employment automatically) shall be communicated by a Notice of Termination to the other party
hereto in accordance with Section 16. For purposes of this Agreement, “Notice of Termination” shall mean a written notice that shall indicate the specific termination provision in this Agreement (if any) relied upon and, if
applicable, shall set forth in reasonable detail the facts and circumstances claimed to provide the basis for such termination under the provision so indicated. 
 2.9 Date of Termination. For purposes of this Agreement, “Date of Termination” shall mean (a) if
Executive’s employment is terminated due to Executive’s death, the date of such death; (b) if Executive’s employment is terminated for Disability, thirty (30) days after Notice of Termination is given (provided Executive
shall not have returned to the full time performance of Executive’s duties during such thirty (30) day period), and (c) if Executive’s employment is terminated for any reason other than death or Disability, the date specified in
the Notice of Termination, which shall not be less than sixty (60) days from the date of such Notice of Termination is given. In no event shall Executive’s Date of Termination precede the date of his “separation from service” as
defined in Treas. Reg. § 1.409A-1(h), without regard to the 29-month option in § 1.409A-1(h)(1)(i) or the greater-than-20% option in § 1.409A-1(h)(1)(ii), and using the 80% option in § 1.409A-1(h)(3). 

 3. Place of Employment. The principal place of employment of Executive shall be at the
Company’s executive offices in San Diego County, California. 
 4. Base Salary. During the Employment Period the Company shall
pay Executive a base salary at an annual rate of not less than Four Hundred Sixty Two Thousand Dollars ($462,000) (the “Base Salary”). The Base Salary shall be paid in periodic installments in accordance with the Company’s
regular payroll practices, subject to all applicable taxes and withholding. The Compensation Committee of the Board of the Company (the “Committee”) shall review the Base Salary as soon as practicable after the end of each fiscal
year during the Employment Period, beginning with the fiscal year ending on December 31, 2007. Based on such reviews, the Committee may increase, but shall not decrease, the Base Salary. 
 5. Bonus and Long-Term Incentives. 
 5.1 Annual Bonus. For each fiscal year of the Company ending on or after
December 31, 2007 during the Employment Period, Executive shall be eligible to receive an annual bonus (the “Bonus”) of at least one-hundred percent (100%) of Executive’s then Base Salary (the “Target
Amount”) if reasonable operational criteria and other organizational milestones (“Targets”) are satisfied. Targets may be aggressive, but they must be attainable. The Board shall designate a director to meet with Executive
to recommend Targets to the Board. The Board or its Committee shall take those recommendations into account and adopt Targets within a reasonable number of days (but no later than forty-five (45) days) prior the fiscal year to which they apply.
For fiscal year 2007, the targets shall be those set forth in the Senior Management Bonus Targets for that year and all performance goals shall be deemed to have been achieved at least at Target for the first  3/4 of fiscal year 2007. The Board may elect to pay Executive more than the Target Amount Bonus and may pay the
Executive additional bonuses. 
 5.2 Payment. The Bonus payable hereunder shall be payable in a single cash
payment no later than thirty (30) days following the date (the “Delivery Date”) audited financial statements for the fiscal year to which such Bonus relates are delivered to the Board, or as otherwise agreed by Executive and
the Board or, if earlier, by the sixty-fifth (65th day after the end of the calendar year in which the fiscal year ends. Any other bonus payable hereunder shall, unless otherwise specified pursuant to Section 5.3 below, be payable at such time
as the Board shall determine, but any such bonus that is subject to Internal Revenue Code Section 409A shall be paid at a time and in a manner that complies with that section. 
 5.3 Deferral. Executive may elect to defer Base Salary, Bonus, or other amounts as permitted under the Company’s benefit
plans. 
 5.4 Annual Grant of Restricted Stock Units. On the Effective Date, the Company will grant Executive 150,000
restricted stock units convertible into shares of Company common stock under the Company’s 2000 Stock Incentive Plan (the “2000 Plan”), and except as provided in this Agreement such grant will be governed by the terms of the
2000 Plan (the “Restricted Stock”) and any other agreements between Executive and the Company and the applicable restricted stock unit qualifiers set forth in the Senior Management Bonus Targets for 2007. Subject to such qualifires,
the Restricted Stock will be scheduled to vest in accordance with the following schedule: 50,000 on January 5, 2008, 50,000 on January 5, 2009 and 50,000 on January 5, 

 
2010. The Committee shall, at the beginning of 2008 and subsequent calendar years, make annual grants to Executive of restricted stock, restricted stock
units, or similar awards with respect to shares of Company stock. Such grants shall be made at the same time during the calendar year as grants generally are made to senior executives of the Company. Such annual grants shall be consistent with
competitive pay practices generally and appropriate relative to awards made to other senior executives of the Company. It shall not be a violation of this section if the award otherwise required under it is reduced and the award otherwise required
under Section 5.5 is increased to make up for the reduction in value of the Section 5.4 award, and Executive consents to that transfer of value. 
 5.5 Annual Grant of Stock Options. The Committee shall, at the beginning of 2008 and subsequent calendar years, make annual grants to Executive of ten-year options with respect to shares of Company stock, with
such grants to be made at the same time during the calendar year as grants are generally made to senior executives of the Company and such options shall vest according to the terms set forth in the grant agreement as long as the Executive remains in
Service in any capacity with the Company, such as while he is either the Company’s Executive Chairman, a member of its Board of Directors, its employee, a director or employee of any Company affiliate or serving in any other similar capacity. .
Such annual grants shall be consistent with competitive pay practices generally and appropriate relative to awards made to other senior executives of the Company. It shall not be a violation of this section if the award otherwise required under it
is reduced and the award otherwise required under Section 5.4 is increased to make up for the reduction in value of the Section 5.5 award, and Executive consents to that transfer of value 
 5.6 Long-Term Incentives. To the extent not provided under Sections 5.4 and 5.5, the Executive will be eligible to receive grants
of equity-based awards and other incentive awards under the Company’s applicable incentive plans and programs as determined by the Board or the Committee, in accordance with the Company’s ordinary practices, on similar terms and conditions
as apply to other senior executives generally. 
 6. Expenses. 
 6.1 Legal Expenses. The Company shall promptly pay on Executive’s behalf all reasonable legal and other professional fees
incurred by Executive in connection with the negotiation and completion of this Agreement (and a fully tax-grossed up basis to the extent, if any, that Executive is taxed on those payments); provided, however, that Executive shall
properly account for such expenses in accordance with the policies and procedures of the Company. The Company shall pay all reasonable legal fees Executive incurs in connection with (a) the performance of his duties for the Company, or
(b) determining or enforcing his rights under this Agreement. 
 6.2 Ordinary Expenses. The Company shall promptly
reimburse Executive travel, entertainment, and other expenses and disbursements reasonably incurred by Executive during the Employment Period (in accordance with the policies and procedures established for senior executive officers of the Company)
in the performance of his duties and responsibilities for the Company under this Agreement; provided, however, that Executive shall properly account for such expenses in accordance with the policies and procedures of the Company.

 7. Employee Benefit Plans. During the Employment Period, Executive shall be entitled to
participate in all employee benefit plans or programs of the Company, if any, on the same basis as other senior executives of the Company, to the extent that his position, tenure, salary, age, health and other qualifications make him eligible to
participate, subject to the terms, conditions, rules and regulations applicable thereto. Executive will also receive perquisites on at least the same level as the Company’s other senior executive officers. 
 8. Life Insurance. The Company shall provide Executive with a One Million Dollar ($1,000,000) executive term life insurance policy. The
beneficiary of such policy shall be named by Executive. Upon the termination of Executive’s employment with the Company for any reason, the Company shall, upon Executive’s request, assign such a life insurance to Executive, with Executive
to fully assume the obligation to maintain such life insurance after the end of the Employment Period. 
 9. Vacations and Holidays.
Each calendar year Executive shall be entitled to an aggregate of five (5) weeks’ paid vacation, pro-rated for any period which is less than one (1) calendar year, plus holidays in accordance with the Company’s policies, as
amended from time to time, for senior executive officers. Vacation time shall accrue during each calendar year and, upon termination of this Agreement for any reason and in addition to any other rights granted Executive under this Agreement,
Executive shall be entitled to be paid an amount based upon his salary at the rate applicable immediately prior to such termination for any accrued but unused vacation time. 
 10. Other Activities. Executive may devote a reasonable amount of his time (a) to civic, community, or charitable activities or any
governmental entity, (b) to serve as a director of no more than two (2) other business enterprises, (c) making and managing personal business investments, or (d) as otherwise authorized by the Committee. Activities authorized by
clauses (a) and (b) must not materially interfere with the Executive’s obligation to devote substantially all of his business time and effort to the business of the Company. Activities authorized by clauses (c) and (d) are
not expected to raise such issues and, therefore, are not subject to the limitations of the previous sentence. 
 11. Termination
Benefits. In addition to anything else to which Executive is entitled under this Agreement, in the event Executive’s employment terminates prior to the end of the Employment Period, then Executive shall be entitled to receive severance and
other benefits as follows: 
 11.1 Severance. 
 11.1.1 Termination without Cause or Resignation for Good Reason. If the Company terminates Executive’s employment other than
for Cause, or if Executive terminates his employment for Good Reason, Executive shall be entitled to the Accrued Obligations and to the benefits provided below: 
 (i) The Company shall pay Executive an amount equal to two (2) times the sum of the following: (i) his annual Base
Salary, as adjusted pursuant to Section 4, and (ii) a Bonus equal to the greater of (A) the amount of the Bonus Executive would have earned during the fiscal year of termination had this Agreement not been terminated early, 

 
which shall not be less than the Target Amount for that fiscal year, and (B) an amount equal to his Base Salary multiplied by the average percentage
bonus (calculated as a percentage of their respective maximum bonus targets) of the next three most senior officers of the Company. The amounts set forth in this Section 11.1.1 shall be payable in twelve (12) equal monthly installments
starting within thirty (30) days after the Date of Termination, but with all remaining amounts being paid no later than 65 days after the later the end of the calendar year or the Company fiscal year in which the Date of Termination occurs.

 (ii) The Company shall provide Executive with outplacement services for a period not to exceed one (1) year at
an aggregate cost to the Company not to exceed $20,000, the scope of which shall be selected by Executive in his sole discretion and the provider of which shall be selected by Executive from among the providers offered to Executive by the Company;
provided, however, that if the outplacement services would be subject to Code Section 409A, Executive shall pay for such services during the first six (6) months following the Date of Termination, with the Company promptly
reimbursing Executive within fifteen (15) days after the seven month anniversary of the Date of Termination for all outplacement service expenses theretofore incurred by Executive, and the balance of the payments being made directly by the
Company until the first anniversary of the Date of Termination. 
 (iii) For the twenty-four (24)-month period
beginning on the Date of Termination (the “Coverage Period”), the Company shall pay for and provide Executive and his dependents with the same medical, vision, and dental benefits coverage under the Company’s benefit plans to
which Executive would have been entitled had Executive remained continuously employed by the Company during the Coverage Period (except that Executive shall not be obligated to make any contributions he would have had to make had he remained an
employee). In the event that Executive is ineligible under the terms of the Company’s benefit plans to continue to be so covered, the Company shall provide Executive with substantially equivalent coverage through other sources. At the end of
the Coverage Period, Executive and his dependents shall be entitled to continuation coverage (or its equivalent) under COBRA and under any other applicable law, to the extent required by such laws, as if Executive had terminated employment at the
end of the Coverage Period. 
 (iv) Until the expiration of all applicable statutes of limitation, the Company shall
provide the Executive with indemnification and directors’ and officers’ liability insurance insuring Executive against insurable events which occur or have occurred while Executive was a director or officer of the Company, such insurance
to have policy limits aggregating not less than the amount in effect immediately prior to the Date of Termination and such indemnification and insurance otherwise to be on terms and conditions that are at least as generous as that then provided to
any other current or former director or executive officer of the Company, provided, however, that such terms, conditions and exceptions shall not be, in the aggregate, materially less favorable to Executive than those in effect on the
date hereof. 
 (v) Notwithstanding anything to the contrary in any equity plan, award agreement, other similar
arrangement, or any other agreement to which the Company is a party, all of Executive’s restricted stock, options, or other equity awards (whether outstanding as of the Effective Date of this Agreement or subsequently issued) will immediately,

 
fully and automatically vest and shall be exercisable in full, all restrictions will lapse and immediately terminate and, if applicable, will remain
exercisable until the earlier of the expiration of their maximum original term at the time of grant or the tenth anniversary of grant. 
 11.1.2 Change in Control. Notwithstanding any other provision of this Agreement, in the event that (1) Executive terminates his Company employment for any reason within twelve (12) months following a
Change in Control, or (2) Executive is terminated without Cause within six (6) months prior to a Change in Control, then in each case, to the extent the Company has not already paid or provided them, the Company shall pay the Executive an
amount equal to three (3) times the Executive’s Base Salary and Bonus pursuant to Section 11.1.1(i), and Executive shall receive all other Section 11.1 payments or benefits except that the Coverage Period during which the Company
shall pay the benefits under Section 11.1.1(iii) shall be three (3) years. In addition, whether Executive terminates employment with the Company or not, all of Executive’s restricted stock, options, and other equity awards (whether
outstanding as of the Effective Date of this Agreement or subsequently issued) will immediately, fully and automatically vest and be exercisable in full, all restrictions will laps and immediately terminate, and such restricted stock, options and
other equity awards shall remain exercisable as if he were terminated without Cause under Section 2.4 and the date of the Change in Control were his Date of Termination. For purposes of this Agreement, “Change in Control” means
the occurrence of any of the following (determined in accordance with the rules prescribed by Treas. Reg. § 1.409A-3(i)(5) and only if it satisfies the requirements set forth in that section): 
 (i) The consummation of a merger, consolidation, business combination or similar transaction, of the Company with or into another
entity or any other corporate reorganization, or any other similar transaction, if more than 50% of the combined voting power of the continuing or surviving entity’s securities outstanding immediately after such merger, consolidation or other
reorganization or transaction is owned by persons who were not stockholders of the Company immediately prior to such merger, consolidation or other reorganization or transaction; 
 (ii) The sale, transfer or other disposition of all or substantially all of the Company’s business, property or assets;

 (iii) A change in the composition of the Board, as a result of which fewer than one-half of the incumbent directors
are directors who either (A) had been directors of the Company on the date twelve (12) months prior to the date of the event that may constitute a Change in Control (the “original directors”) or (B) were elected, or
nominated for election, to the Board with the affirmative votes of at least a majority of the aggregate of the original directors who were still in office at the time of the election or nomination of the directors whose election or nomination was
previously so approved; 
 (iv) Any “person” (as defined in Section 13(d) and 14(d) of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”), excluding for this purpose, (i) the Company or any subsidiary of the Company, or (ii) any employee benefit plan of the Company or any subsidiary of the Company, 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 at least 30% of the total voting power represented by the Company’s then outstanding
securities; or 

 (v) A liquidation or dissolution of the Company. 
 11.2 No Duty to Mitigate. Executive shall not be required to mitigate the amount of any payment contemplated by this Agreement
(whether by seeking new employment or in any other manner). Any severance benefits payable to Executive shall not be subject to reduction for any compensation received from other employment. 
 11.3 Non-Renewal of Employment Period. 
 (i) If the Company does not offer to renew the Agreement as provided in Section 2.2, this Agreement and Executive’s
employment shall terminate at the end of the Employment Term. That termination will be treated as a termination without Cause, and Executive will be entitled to the payments and benefits prescribed in Section 2.4 or, if the Employment Term ends
during the change-in-control protection period set forth in Section 11.1.2, the payments and benefits prescribed in Section 11.1.2. 
 (ii) If the Company offers to renew the Agreement as provided in Section 2.2, but Executive declines to renew it, this Agreement and Executive’s employment shall terminate at the end of the Employment
Term. That termination will be treated as a resignation without Good Reason, and Executive will be entitled to the payments and benefits prescribed in Section 2.7 or, if the Employment Term ends during the change-in-control protection period
set forth in Section 11.1.2, the payments and benefits prescribed in Section 11.1.2. 
 12. [Reserved]. 
 13. Right to Advice of Counsel. Executive acknowledges that he has consulted with counsel and is fully aware of his rights and obligations under
this Agreement. Executive acknowledges that the payments and other matters provided in this Agreement have tax consequences, that the Company (or its counsel) has not provided any tax advice to Executive, and that Executive is solely responsible for
consulting with an accountant, legal counsel, or other tax advisor regarding the tax consequences of this Agreement. 
 14.
Successors. The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of its business, equity and/or assets, by agreement in form and substance reasonably
satisfactory to Executive, to expressly 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. Regardless of whether such an agreement
is executed, this Agreement shall be binding upon any successor of the Company in accordance with the operation of law, and such successor shall be deemed the “Company” for purposes of this Agreement. The term “Company” as used
in this Agreement shall mean the Company as defined in this Agreement and any successor to its business, equity and/or assets. The Company shall remain secondarily liable if any successor fails to satisfy its obligations to the Executive under this
Agreement. 

 15. Assignment. This Agreement and all rights under this Agreement shall be binding upon and inure
to the benefit of and be enforceable by the parties hereto and their respective personal or legal representatives, executors, administrators, heirs, distributees, devisees, legatees, successors and assigns. This Agreement is personal in nature, and
neither of the parties to this Agreement shall, without the written consent of the other party, assign or transfer this Agreement or any one or more of its rights or obligations under this Agreement to any other person or entity, except that the
Company may assign or transfer this Agreement to any successor entity as provided in Section 14; provided, that such assignment shall not relieve the assigning party of its obligations hereunder. If Executive should die while any amounts are
still payable, or any benefits are still required to be provided to Executive hereunder, all such amounts or benefits, unless otherwise provided herein, shall be paid or provided in accordance with the terms of this Agreement to Executive’s
devisee, legatee, or other designee as provided for in a written notice to the Company or, if there by no such designee on file with the Company, to Executive’s estate (in each case, a “Beneficiary”). 
 16. Notices. For purposes of this Agreement, notices and other communications provided for in this Agreement shall be in writing and shall be
delivered personally or sent by United States certified mail, return receipt requested, postage prepaid, addressed as follows: 
  

			
	If to Executive:	  	Peter V. Leparulo, at his most recent
		  	address set forth in Company records
		
	If to the Company:	  	Novatel Wireless, Inc.
		  	9645 Scranton Road, Suite 205
		  	San Diego, California 92121-1764
		  	Attention: General Counsel

 or to such other address or the attention of such other persons as the recipient party has previously furnished to
the other parties in writing in accordance with this Section. Such notices or other communications shall be effective upon delivery or, if earlier, three (3) days after they have been mailed as provided above. 
 17. Integration. This Agreement represents the entire agreement and understanding among the parties as to the subject matter hereof. If a conflict
exists between a provision of this Agreement and any other agreement, the provision more favorable to the Executive shall be controlling. No waiver, alteration, amendment or modification of any of the provisions of this Agreement shall be binding
unless in writing and signed by the parties hereto or their respective successors and duly authorized representatives. Nothing in this Agreement shall limit or otherwise adversely affect any rights which Executive may have under applicable law, any
other agreement with the Company, or any compensation or benefit plan, program, policy or practice of the Company. 
 18. Waiver.
Failure or delay on the part of either party hereto to enforce any right, power, or privilege hereunder shall not be deemed to constitute a waiver hereof. Additionally, a waiver by either party or a breach of any promise hereof by the other party
shall not operate as or be construed to constitute a waiver of any subsequent breach or promise by such other party. 

 19. Severability. Whenever possible, each provision of this Agreement shall be interpreted in such
manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or
unenforceability shall not affect any other provision or any other jurisdiction, but this Agreement shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained
herein. 
 20. Headings. The headings of the paragraphs contained in this Agreement are for reference purposes only and shall not in
any way affect the meaning or interpretation of any provision of this Agreement. 
 21. Applicable Laws. This Agreement shall be
governed by and construed in accordance with the internal substantive laws, and not the choice of law rules, of the State of California. 
 22. Counterparts. This Agreement may be executed in one or more counterparts, none of which need contain the signature of more than one party hereto, each of which shall be deemed to be an original, and all of which together shall
constitute a single agreement. To the maximum extent permitted by law or by any applicable governmental authority, this Agreement may be signed and transmitted by facsimile with the same validity as if it were an ink-signed document. 
 23. Indemnification. The Company shall indemnify Executive against liability as an officer and director of the Company and any subsidiary or
affiliate of the Company to the fullest extent allowed by applicable law during the Employment Period and until the expiration of all applicable statutes of limitation and so long as Executive may be subject to such liability, whether or not this
Agreement may have been terminated prior thereto. In addition, the Company shall maintain for the benefit of Executive, officer and director liability insurance, in form at least as comprehensive as, and in an amount that is at least equal to, that
maintained by the Company on the Effective Date, which Company agrees to obtain and keep in effect throughout the Employment Period and until the expiration of all applicable statutes of limitation and so long as Executive may be subject to such
liability, whether or not this Agreement may have been terminated prior thereto. Such indemnification and insurance shall be on terms and conditions that are at least as generous as that provided to any other current or former director or executive
officer of the Company. 
 24. Section 280G. If it is determined that any payment or distribution of any type to or for the
benefit of Executive by the Company, any of its affiliates, any person who acquires ownership or effective control of the Company or ownership of a substantial portion of the Company’s assets (within the meaning of Code Section 280G and
the regulations thereunder) or any affiliate of such person, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, including, without limitation, any equity plan or award agreement (the
“Payments”), would be subject to the excise tax imposed by section 4999 of the Code or any interest or penalties with respect to such excise tax (such excise tax, together with any such interest or penalties, 

 
are collectively referred to as the “Excise Tax”), then Executive shall be entitled to receive an additional payment (a “Gross-Up
Payment”) in an amount such that after payment by Executive of all taxes (including any interest or penalties imposed with respect to such taxes), including, without limitation, any income taxes (and any interest and penalties imposed with
respect thereto) and Excise Tax imposed upon the Gross-Up Payment, Executive retains an amount of the Gross-Up Payment equal to the Excise Tax imposed upon the Payments. 
 The determination of whether the Payments are subject to an Excise Tax and, if so, the amount to be paid by the Company to Executive and the time of payment pursuant to this Section 26 shall be made by an
independent auditor (the “Auditor”) jointly selected by the parties, which shall provide detailed supporting calculations both to the Company and Executive within fifteen (15) days of the receipt of notice from Executive that
there has been a Payment. Unless Executive agrees otherwise in writing, the Auditor shall be a nationally recognized United States public accounting firm that has not, during the two (2) years preceding the date of its selection, acted in any
way on behalf of the Company or any of its affiliates. If the parties cannot agree on the firm to serve as the Auditor, then the parties shall each select one accounting firm and those two firms shall jointly select the accounting firm to serve as
the Auditor. 
 Any Gross-Up Payment, as determined pursuant to this Section 26, shall be paid by the Company to Executive within five (5) days of
the receipt of the Auditor’s determination. All fees and expenses of the Auditor shall be borne solely by the Company. If, at a later date, it is determined (pursuant to final regulations or published rulings of the Internal Revenue Service,
final judgment of a court of competent jurisdiction, or otherwise) that the amount of Excise Tax payable to Executive is greater than the amount initially so determined, then the Company (or its successor) shall pay to Executive a Gross-Up Payment
with respect to such Excise Tax and any interest, fines and penalties resulting from such underpayment. 
 25. Arbitration. Any
dispute arising under or in connection with this Agreement shall be resolved exclusively by arbitration (except as otherwise provided herein). The arbitration will be conducted by an impartial arbitrator experienced in employment law (selected from
either the JAMS or AAA (at Executive’s election) panel or arbitrators) in accordance with the applicable entity’s then current employment arbitration rules (except as otherwise provided in the Agreement). The arbitration shall take place
in San Diego, California. Executive and the Company each waive the right to institute a court action. Executive and the Company understand that each is giving up his and its right to a jury trial. The Arbitrator’s award and opinion shall be in
writing and in the form typically rendered in labor and employment arbitrations. Any such award shall be deemed final and binding and may be entered in any state or federal court of competent jurisdiction. The Company shall pay the fees associated
with the arbitration, as provided in Section 23. This Section 27 does not prohibit either party from filing a claim with an administrative agency (e.g., the EEOC), nor does it apply to claims for workers’ compensation or unemployment
benefits, or claims for benefits under an employee welfare or pension plan that specifies a different dispute resolution procedure. 
 26.
Representations of the Company. The Company represents and warrants that (i) the execution and delivery of this Agreement has been duly authorized by the Company, including action by the Board and Committee, (ii) the execution,
delivery and performance of this Agreement by the Company does not and will not violate any law, regulation, order, judgment or decree or any agreement, plan or corporate governance document of the Company and (iii) upon the execution and
delivery of this Agreement by Executive, this Agreement shall be the valid and binding obligation of the Company, enforceable in accordance with its terms. 

 27. Withholding. The Company shall be entitled to withhold from any payments or deemed payments
any amount of tax withholding it determines to be required by law. 
 28. Code Section 409A Compliance. 
 (i) If, at the time of Executive’s “separation from service” (within the meaning of Code Section 409A),
Executive is a “specified employee” (within the meaning of Code Section 409A), the Company will not pay or provide any “Specified Benefits” (as defined herein) until after the end of the sixth calendar month beginning after
Executive’s separation from service (the “409A Suspension Period”). For purposes of this Agreement, “Specified Benefits” are any amounts or benefits that would be subject to Section 409A penalties if the Company were to
pay or otherwise settle such amounts or benefits on account of Executive’s separation from service in the manner prescribed by applicable plan, program, arrangement, or agreement terms. Within 14 calendar days after the end of the 409A
Suspension Period, Executive shall be paid a lump sum payment in cash equal to any Specified Benefits delayed because of the preceding sentence, together with interest on suspended cash payments for the period of delay at a rate not less than the
average prime interest rate published in the Wall Street Journal on any day chosen by the Company during that period. Thereafter, Executive shall receive any remaining payments or other benefits as if there had not been an earlier delay. 

(ii) This Agreement is intended to conform to Section 409A of the Code, and the Company shall have complete discretion to
interpret and construe this Agreement and any associated documents in any manner that establishes an exemption from or otherwise conforms them to the requirements of Section 409A. If, for any reason including imprecision in drafting, any Plan
provision does not accurately reflect its intended establishment of an exemption from or compliance with Code Section 409A), as demonstrated by consistent interpretations or other evidence of intent (by the Company in its sole and absolute
discretion), the provision shall be considered ambiguous and shall be interpreted by the Company in a fashion consistent herewith, as determined in the sole and absolute discretion of the Company. The Company reserves the right (including the right
to delegate such right) to unilaterally amend this Agreement without the consent of Executive in order to accurately reflect its correct interpretation and operation, as well as to maintain an exclusion from the application of, or compliance with,
Code Section 409A. 
 (iii) To the extent needed to comply with Internal Revenue Code Section 409A, expenses
under Sections 6.1, 6.2, 24 or any other expense reimbursement provisions of this Agreement or with Executive, must be reimbursed no later than the end of the calendar year following the calendar year in which they were incurred, Executive must
request reimbursement at least thirty (30) days before that deadline, and the right to reimbursement shall not be not subject to liquidation or exchange for another benefit. 
 (iv) If Executive incurs any tax acceleration, penalties, or interest because of a Section 409A violation, the Company shall
pay those amounts and hold Executive harmless from the economic effect of tax acceleration, and shall pay all taxes and penalties on all such payments, unless the Company proposed a reasonable way of preventing the Section 409A violation and
Executive refused to agree to it. 

 IN WITNESS WHEREOF, each of the parties has executed this Agreement as of the day and year first above
written. 
  

			
	NOVATEL WIRELESS, INC.
		
	By:	 	/s/ Greg Lorenzetti
	Name:	 	Greg Lorenzetti
	Title:	 	Director
	
	EXECUTIVE:
	
	/s/ Peter. V. Leparulo
	Peter V. Leparulo

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