Document:

Exhibit

Exhibit 10.2

HARMONIC INC.

CHANGE OF CONTROL SEVERANCE AGREEMENT

This Change of Control Severance Agreement (the "Agreement") is made and entered into by and between Harold Covert, (the "Employee") and Harmonic Inc. (the "Company"), effective as of the latest date set forth by the signatures of the parties hereto below.

RECITALS

A.          It is expected that the Company from time to time will consider the possibility of an acquisition by another company or other Change of Control.  The Board of Directors of the Company (the "Board ") recognizes that such consideration can be a distraction to the Employee and can cause the Employee to consider alternative employment opportunities.  The Board has determined that it is in the best interests of the Company and its shareholders to assure that the Company will have the continued dedication and objectivity of the Employee, notwithstanding the possibility, threat or occurrence of a Change of Control (as defined below) of the Company.

B.          The Board believes that it is in the best interests of the Company and its shareholders to provide the Employee with an incentive to continue his employment and to motivate the Employee to maximize the value of the Company upon a Change of Control for the benefit of its shareholders.

C.          The Board believes that it is imperative to provide the Employee with certain severance benefits upon Employee's termination of employment following a Change of Control which provides the Employee with enhanced financial security and provides incentive and encouragement to the Employee to remain with the Company notwithstanding the possibility of a Change of Control.

D.    Certain capitalized terms used in the Agreement are defined in Section 6 below. 

The parties hereto agree as follows:

1.           Term of Agreement.   This Agreement shall terminate upon the date that all obligations of the parties hereto with respect to this Agreement have been satisfied.

2.           At-Will  Employment.    The  Company  and  the  Employee  acknowledge  that  the  Employee's employment is and shall continue to be at-will, as defined under applicable law.  If the Employee's employment terminates for any reason, including (without limitation) any termination prior to a Change of Control, the Employee shall not be entitled to any payments, benefits, damages, awards or compensation other than as provided by this Agreement, or as may otherwise be available in accordance with the Company's established employee plans and practices or pursuant to other agreements with the Company.

3.    Severance Benefits.

(a)         Termination Following a Change of Control.  If the Employee's employment terminates at any time within eighteen (18) months following a Change of Control, then, subject to Section 5, the Employee shall be entitled to receive the following severance benefits:

(i)       Involuntary Termination.   If the Employee's employment is terminated as a result of Involuntary Termination other than for Cause, then the Employee shall receive the following severance benefits from the Company:

(1)         Severance Payment.    A  cash  payment  in  an  amount  equal  to  one hundred percent (100%) of the Employee's Annual Compensation;

(2)         Bonus Payment.  A cash payment in an amount equal to either 50% of the established annual target bonus or the average of the actual bonus paid in each of the two prior years, whichever is greater.

(3)         Continued   Employee   Benefits.      One   hundred   percent   (100%) Company-paid health, dental and life insurance coverage at the same level of coverage as was provided to such employee immediately prior to the Change of Control (the "Company-Paid Coverage").  If such coverage included the Employee's dependents immediately prior to the Change of Control, such dependent shall also be covered at Company expense.  Company- Paid Coverage shall continue until the earlier of (i) one year from the date of the Change of Control, or (ii) the date that the Employee and his dependents become covered under another employer's group health, dental or life insurance plans.  For purposes of Title X of the Consolidated Budget Reconciliation Act of 1985 ("COBRA"), the date of the "qualifying event" for Employee and his dependent shall be the date upon which the Company-Paid Coverage terminates.

(4)         Option  and  Restricted  Stock  Accelerated  Vesting.     One  hundred percent (100%) of the unvested portion of any outstanding stock option or restricted stock held by the Employee shall automatically be accelerated in full so as to become completely vested and all such outstanding stock options shall be exercisable for a period of one year after such termination.

(5)         Outplacement Assistance.  If desired by Employee, Company will pay up to five thousand dollars ($5,000.00) for outplacement assistance selected by Company and approved by Employee.

(b)         Timing of Severance Payments.  Any severance payment to which Employee is entitled under Section 3(a)(i)(1) shall be paid by the Company to the Employee (or to the Employee's successors in interest pursuant to Section 7(b)) in cash and in full, not later than thirty (30) calendar days following the Termination Date or within twelve (12) months of Termination Date at the election of the Employee.

(c)         Voluntary  Resignation;  Termination  For  Cause.     If  the  Employee's  employment terminates by reason of the Employee's voluntary resignation (and is not an Involuntary Termination), or if the Employee is terminated for Cause, then the Employee shall not be entitled to receive severance or other benefits except for those (if any) as may then be established under the Company's then existing severance and benefits plans and practices or pursuant to other agreements with the Company.

(d)         Disability; Death.  If the Company terminates the Employee's employment as a result of the Employee's Disability or such Employee's employment is terminated due to the death of the Employee then the Employee shall not be entitled to receive severance or other benefits except for those (if any) as may then be established under the Company's then existing severance and benefits plans and practices or pursuant to other agreements with the Company.

(e)         Termination Apart from Change of Control.  In the event the Employee's employment is terminated for any reason, either prior to the occurrence of a Change of Control or after the eighteen (18)-month period following a Change of Control, then the Employee shall be entitled to receive severance and any other benefits only as may then be established under the Company's existing severance and benefits plans and practices or pursuant to other agreements with the Company.

4.           Attorney Fees; Costs and Expenses.   The Company shall promptly reimburse Employee, on a monthly basis, for the reasonable attorney fees, costs and expenses incurred by the Employee in connection with any action brought by Employee to enforce his rights hereunder, regardless of the outcome of the action.

5.    Limitation on Payments.  In the event that the severance and other benefits provided for in this Agreement or  otherwise payable to  the  Employee (i) constitute "parachute payments" within the  meaning of

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Section 280G of the Internal Revenue Code of 1986 as amended (the "Code") and (ii) but for this Section 5, would be subject to the excise tax imposed by Section 4999 of the Code, then the Employee's severance benefits under Section 3(a)(i) shall be either

(a)    delivered in full, or

(b)         delivered as to such lesser extent which would result in no portion of such severance benefits being subject to excise tax under Section 4999 of the Code, whichever of the foregoing amounts taking into account the applicable federal, state and local income taxes and the excise tax imposed by Section 4999, results in the receipt by the Employee on an after-tax basis, of the greatest amount of severance benefits, notwithstanding that all or some portion of such severance benefits may be taxable under Section 4999 of the Code. Unless the Company and the Employee otherwise agree in writing, any determination required under this Section 5 shall be made in writing by the Company's Accountants immediately prior to Change of Control, whose determination shall be conclusive and binding upon the Employee and the Company for all purposes.  For purposes of making the calculations required by this Section 5, the Accountants may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the Code.   The Company and the Employee shall furnish to the Accountants such information and documents as the Accountants may reasonably request in order to make a determination under this Section.    The  Company  shall  bear  all  costs  the  Accountants  may  reasonably incur  in  connection  with  any calculations contemplated by this Section 5.

6.    Definition of Terms.  The following terms referred to in this Agreement shall have the following meanings:

(a)    Annual Compensation.  "Annual Compensation" means an amount equal to Employee's
Company base salary for the twelve months preceding the Change of Control.

(b)         Cause.  "Cause" shall mean (i) any act of personal dishonesty taken by the Employee in connection with his responsibilities as an employee and intended to result in substantial personal enrichment of the Employee, (ii) the conviction of a felony) (iii) a willful act by the Employee which constitutes gross misconduct and which  is  injurious  to  the  Company,  and  (iv) following  delivery  to  the  Employee  of  a  written  demand  for performance from the Company which describes the basis for the Company's belief that the Employee has not substantially performed his duties, continued violations by the Employee of the Employee's obligations to the Company which are demonstrably willful and deliberate on the Employee's part.

(c)    Change of Control.  "Change of Control" means the occurrence of any of the following events:

(i)       Any "person" (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended) becomes the "beneficial owner" (as defined in Rule 13d-3 under said Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the total voting power represented by the Company's then outstanding voting securities;

(ii)       A change in the composition of the Board occurring within a two-year period, as a result of which fewer than a majority of the directors are Incumbent Directors.  "Incumbent Directors" shall mean directors who either (A) are directors of the Company as of the date hereof, or (B) are elected, or nominated for election, to the Board with the affirmative votes of at least a majority of the Incumbent Directors at the time of such election or nomination (but shall not include an individual whose election or nomination is in connection with an actual or threatened proxy contest relating to the election of directors to the Company);

(iii)       The consummation of a merger or consolidation of the Company with any other corporation, other than a merger or consolidation which would result in the voting securities of the Company outstanding  immediately prior  thereto  continuing  to  represent  (either  by  remaining  outstanding  or  by  being converted into voting securities of the surviving entity) at least fifty percent (50%) of the total voting power

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represented by the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation;

(iv)    The  consummation  of  the  sale  or  disposition  by  the  Company  of  all  or substantially all the Company's assets.

(d)         Disability.   "Disability" shall mean that the Employee has been unable to perform his Company duties as the result of his incapacity due to physical or mental illness, and such inability, at least 26 weeks after its commencement, is determined to be total and permanent by a physician selected by the Company or its insurers and acceptable to the Employee or the Employee's legal representative (such Agreement as to acceptability not to be unreasonably withheld).  Termination resulting from Disability may only be effected after at least 30 days written notice by the Company of its intention to terminate the Employee's employment.   In the event that the Employee resumes the performance of substantially all of his duties hereunder before the termination of his employment becomes effective, the notice of intent to terminate shall automatically be deemed to have been revoked.

(e)         Involuntary Termination.      "Involuntary  Termination"  shall   mean   (i) without  the Employee's express written consent, the significant reduction of the Employee's duties authority or responsibilities relative to the Employee's duties, authority or responsibilities as in effect immediately prior to such reduction, or the assignment to Employee of such reduced duties, authority or responsibilities; (ii) without the Employee's express written consent, a substantial reduction, without good business reasons, of the facilities and perquisites (including office space and location) available to the Employee immediately prior to such reduction; (iii) a reduction by the Company in the base salary of the Employee as in effect immediately prior to such reduction; (iv) a material reduction by the Company in the kind or level of employee benefits, including bonuses, to which the Employee was entitled immediately prior to such reduction with the result that the Employee's overall benefits package is significantly reduced; (v) the relocation of the Employee to a facility or a location more than twenty-five (25) miles from the Employee's then present location, without the Employee's express written consent; (vi) any purported termination of the Employee by the Company which is not effected for Disability or for Cause, or any purported termination for  which the  grounds relied  upon are  not  valid; (vii) the  failure of  the  Company to  obtain the assumption of this Agreement by any successors contemplated in Section 7(a) below; or (viii) any act or set of facts or circumstances which would, under California case law or statute constitute a constructive termination of the Employee.

(f)          Termination Date.  "Termination Date" shall mean (i) if this Agreement is terminated by the Company for Disability, thirty (30) days after notice of termination is given to the Employee (provided that the Employee shall not have returned to the performance of the Employee's duties on a full-time basis during such thirty (30)-day period), (ii) if the Employee's employment is terminated by the Company for any other reason, the date on which a notice of termination is given, provided that if within thirty (30) days after the Company gives the Employee notice of termination, the Employee notifies the Company that a dispute exists concerning the termination or the benefits due pursuant to this Agreement, then the Termination Date shall be the date on which such dispute is finally determined, either by mutual written agreement of the parties, or by a final judgment, order or decree of a court of competent jurisdiction (the time for appeal therefrom having expired and no appeal having been perfected), or (iii) if the Agreement is terminated by the Employee, the date on which the Employee delivers the notice of termination to the Company.

7.    Successors.

(a)         Company's Successors.  Any successor to the Company (whether direct or indirect and whether by purchase, merger, consolidation, liquidation or otherwise) to all or substantially all of the Company's business and/or assets shall assume the obligations under this Agreement and agree expressly to perform the obligations under this Agreement in the same manner and to the same extent as the Company would be required to perform such  obligations in  the  absence of  a  succession.    For  all  purposes under  this  Agreement, the  term "Company" shall include any successor to the Company's business and/or assets which executes and delivers the assumption agreement described in this Section 7(a) or which becomes bound by the terms of this Agreement by operation of law.

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(b)         Employee's Successors.   The terms of this Agreement and all rights of the Employee hereunder shall inure to the benefit of, and be enforceable by, the Employee's personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees.

8.    Notice.

(a)         General.  Notices and all other communications contemplated by this Agreement shall be in writing and shall be deemed to have been duly given when personally delivered or when mailed by U.S. registered or certified mail, return receipt requested and postage prepaid.   In the case of the Employee, mailed notices shall be addressed to him at the home address which he most recently communicated to the Company in writing.  In the case of the Company, mailed notices shall be addressed to its corporate headquarters, and all notices directed shall be to the attention of its Secretary.

(b)         Notice of Termination.  Any termination by the Company for Cause or by the Employee as  a  result  of  a  voluntary resignation or  an  Involuntary Termination shall  be  communicated by a  notice  of termination to the other party hereto given in accordance with Section 8(a) of this Agreement.  Such notice shall indicate the specific termination provision in this Agreement relied upon, shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination under the provision so indicated, and shall specify the termination date (which shall be not more than 30 days after the giving of such notice). The failure by the Employee to include in the notice any fact or circumstance which contributes to a showing of Involuntary Termination shall not waive any right of the Employee hereunder or preclude the Employee from asserting such fact or circumstance in enforcing his rights hereunder.

9.    Miscellaneous Provisions.

(a)         No Duty to Mitigate.  The Employee shall not be required to mitigate the amount of any payment contemplated by this  Agreement, nor  shall any  such payment be  reduced by any earnings that the Employee may receive from any other source.

(b)         Waiver.  No provision of this Agreement shall be modified, waived or discharged unless the modification, waiver or discharge is agreed to in writing and signed by the Employee and by an authorized officer of the Company (other than the Employee).  No waiver by either party of any breach of, or of compliance with, any condition or provision of this Agreement by the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time.

(c)         Whole Agreement.  No agreements, representations or understandings (whether oral or written and whether express or implied) which are not expressly set forth in this Agreement have been made or entered into by either party with respect to the subject matter hereof.   This Agreement represents the entire understanding of the parties hereto with respect to the subject matter hereof and supersedes all prior arrangements and understandings regarding same.

(d)         Choice of Law.  This Agreement shall be deemed to have been executed and delivered within the State of California and the validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of California, without regard to choice of law principles.

(e)         Severability.  The invalidity or unenforceability of any provision or provisions of this Agreement shall not affect the validity or enforceability of any other provision hereof, which shall remain in full force and effect.

(f)          Withholding.    All  payments  made  pursuant  to  this  Agreement  will  be  subject  to withholding of applicable income and employment taxes.

(g)         Counterparts.  This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which together will constitute one and the same instrument.

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IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company by its duly authorized officer, as of the day and year set forth below.

 
	
					
	COMPANY
	 
	 
	 
	HARMONIC INC.

	 
	 
	 
	 
	 

	 
	 
	By:
	 
	/s/ Peter Hilliard

	 
	 
	Title:
	 
	Senior Vice President, Human Resources

	 
	 
	Date:
	 
	10/27/2015

	 
	 
	 
	 
	 

	EMPLOYEE
	 
	Name:
	 
	/s/ Harold Covert

	 
	 
	Date:
	 
	10/27/2015

6Exhibit 4.12

Employment Agreement

 

Employment Agreement, between VAST BILLION
INVESTMENT LIMITED (the “Company”) and Tu lixia (the “employee”).

 

The Company employs
the Employee on the following terms and conditions.

 

		1.	Term of Employment. Subject to the provisions for termination set forth below this agreement will
begin on 25 June 2015 and terminate on 25 June 2017.

 

		2.	Duties and Position. The Company hires the Employee as
Chief Financial Officer, reporting to the Company’s Chief Executive Officer. The duties will be commensurate with those
typical for such a position as determined by the CEO from time to time.

 

		3.	Remuneration. The Company will pay the Employee a after
tax salary of RMB 800,000 per year, for the services of the Employee, and monthly salary will be 66,666 RMB after tax , it will
be payable before 15 of every month , the remuneration will be reviewed from time to time according to the Company’s policies.
All the reasonable business expenses that are documented and incurred in the ordinary course of business will be reimbursed in
accordance with the company’s standard policies and procedures.

 

		4.	Incentive Compensation. The employee will be eligible
to participate in such annual performance bonus plans as may be established by the Company from time to time for similarly situated
employees, subject to the terms and conditions established by the Company for such bonus plans. Any such bonuses will be based
on the achievement of goals and milestones established by the Company in its sole discretion, and the Company in its sole discretion
may amend or terminate any such bonus plans at any time.

 

		5.	Equity Awards. The employee will be entitled to participate
in the Company’s Equity Incentive Plan when and if such a Plan is adopted by the Board.

 

     

     

    

 

		6.	Employee Benefits. The employee are eligible to participate
in such Company-sponsored benefits, including health benefits, vacation (annual leave), sick leave, holidays and other benefits
that the Company may offer to similarly situated employees from time to time. The employee’s eligibility to receive such
benefits will be subject in each case to the generally applicable terms and conditions for the benefits in question and to the
determinations of any person or committee administering such benefits. The Company may from time to time, in its sole discretion,
amend or terminate the benefits available to the employee and the Company’s other employees. The employee will be covered
by worker’s compensation insurance, disability insurance and other governmental benefit programs as required by applicable
laws.

 

		7.	Confidentiality of Proprietary Information. The Employee
agrees that he will not, during or after the term of his employment, reveal such information, or any part of it, to any person,
firm, corporation, or association. If the Employee does reveal, or threaten to reveal, this information, the Company will be entitled
to an injunction restraining the Employee from disclosing same, or from rendering any services to any entity to whom said information
has been or is threatened to be disclosed. The right to secure an injunction is not exclusive, and the Company may pursue any
other remedies it has against the Employee for a breach or threatened breach of this condition, including the recovery of damages
from the Employee.

 

		8.	Termination of Agreement. Without cause, the Company
may terminate this agreement at any time upon 30 days written notice to the Employee; if the Company requests, the Employee will
continue to perform his duties and be paid his regular salary up to the date of termination. In addition, the Company will pay
the Employee on the date of termination a severance allowance with 3 months of salary less taxes and social security required
to be withheld. Without cause, the Employee may terminate his employment upon 30 days’ written notice to the Company. The
Employee will be required to perform his duties and will be paid his regular salary up to the date of termination but will not
receive a severance allowance.

 

     

     

    

 

		9.	Severability. If any term of this letter is held to be
invalid, void or unenforceable, the remainder of the terms herein will remain in full force and effect and will in no way be affected,
and the parties will use their best efforts to find an alternative way to achieve the same result.

 

		10.	Governing Law. The terms of this letter and the resolution
of any dispute as to the meaning, effect, performance or validity of this letter or arising out of, related to, or in any way
connected with, this letter, your employment with the Company or any other relationship between you and the Company (a “Dispute”)
will be governed by the laws of Hong Kong, S.A.R., China, without giving effect to the principles of conflict of laws.

 

Signed under seal this 25th of June, 2015.

 

	/s/ Keyan Yan	 	/s/ Lixia Tu
	Company	 	Employee

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