Document:

Exhibit 10.4

 

CONFIDENTIAL

 

STOCKHOLDER SUPPORT AGREEMENT

 

This Stockholder Support
Agreement (this “Agreement”) is dated as of January 7, 2021, by and among ACE Convergence Acquisition Corp.,
a Cayman Islands exempted company limited by shares (which shall domesticate as a Delaware corporation prior to the Closing (as
defined in the Merger Agreement (as defined below)) (“Acquiror”), the Persons set forth on Schedule I
attached hereto (each, a “Company Stockholder” and, collectively, the “Company Stockholders”),
and Achronix Semiconductor Corporation, a Delaware corporation (the “Company”). Capitalized terms used but not
defined herein shall have the respective meanings ascribed to such terms in the Merger Agreement.

 

RECITALS

 

WHEREAS, as of the date
hereof, the Company Stockholders are the holders of record and the “beneficial owners” (within the meaning of Rule 13d-3
under the Exchange Act) of such number of shares of Company Capital Stock as are indicated opposite each of their names on Schedule
I attached hereto (all such shares of Company Capital Stock, together with any shares of Company Capital Stock of which ownership
of record or the power to vote (including, without limitation, by proxy or power of attorney) is hereafter acquired by any such
Company Stockholder during the period from the date hereof through the Expiration Time (as defined below) are referred to herein
as the “Subject Shares”);

 

WHEREAS, contemporaneously
with the execution and delivery of this Agreement, Acquiror, Ace Convergence Subsidiary Corp., a Delaware corporation (“Merger
Sub”), and the Company entered into an Agreement and Plan of Merger (as amended or modified from time to time, the “Merger
Agreement”) pursuant to which, Merger Sub will merge with and into the Company (the “Merger”), with
the Company surviving the Merger as a wholly-owned subsidiary of Acquiror; each of the Company Warrants will be exercised in full
on a cashless basis or terminated without exercise, as applicable, in accordance with their respective terms, and each share of
Company Common Stock that is issued in respect thereof or otherwise issued and outstanding as of immediately prior to the Effective
Time will, in each case, be cancelled and automatically converted into the right to receive a certain number of shares of Acquiror
Common Stock (such transaction, the “Warrant Conversion”); and each share of Company Preferred Stock that is
issued and outstanding as of immediately prior to the Effective Time will be automatically converted into Company Common Stock,
and each share of Company Common Stock that is issued in respect thereof or otherwise issued and outstanding as of immediately
prior to the Effective Time will, in each case, be cancelled and automatically converted into the right to receive a certain number
of shares of Acquiror Common Stock (such transaction, the “Preferred Conversion” and together with the Merger,
the Warrant Conversion and the other transactions contemplated by the Merger Agreement, the “Transactions”);
and

 

WHEREAS, as an inducement
to Acquiror and the Company to enter into the Merger Agreement and to consummate the transactions contemplated therein, the parties
hereto desire to agree to certain matters as set forth herein.

 

    

     

    

 

AGREEMENT

 

NOW, THEREFORE, in consideration
of the foregoing and the mutual agreements contained herein, and intending to be legally bound hereby, the parties hereto hereby
agree as follows:

 

ARTICLE I

stockholder SUPPORT AGREEMENT; COVENANTS

 

Section 1.1     Binding
Effect of Merger Agreement. Each Company Stockholder hereby acknowledges that it has read the Merger Agreement and
this Agreement and has had the opportunity to consult with its tax and legal advisors. Each Company Stockholder shall be bound
by and comply with Sections 6.5 (Acquisition Proposals) and 11.12 (Publicity) of the Merger Agreement (and any relevant
definitions contained in any such Sections) as if (x) such Company Stockholder was an original signatory to the Merger Agreement
with respect to such provisions, and (y) each reference to the “Company” contained in such provisions also referred
to each such Company Stockholder.

 

Section 1.2     No
Transfer. During the period commencing on the date hereof and ending on the earlier to occur of (a) the Effective
Time, and (b) such date and time as the Merger Agreement shall be terminated in accordance with Section 10.1 thereof
(the “Expiration Time”), each Company Stockholder shall not (i) sell, offer to sell, contract or agree
to sell, hypothecate, pledge, grant any option to purchase or otherwise dispose of or agree to dispose of, directly or indirectly,
file (or participate in the filing of) a registration statement with the SEC (other than the Proxy Statement/Registration Statement)
or establish or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16
of the Exchange Act, with respect to any Subject Shares, (ii) enter into any swap or other arrangement that transfers to
another, in whole or in part, any of the economic consequences of ownership of any Subject Shares (clauses (i) and (i) collectively,
a “Transfer”) or (iii) publicly announce any intention to effect any transaction specified in clause (i) or
(ii); provided, however, that nothing herein shall prohibit a Transfer to an Affiliate of a Company Stockholder
(a “Permitted Transfer”); provided, further, that any Permitted Transfer shall be permitted only
if, as a precondition to such Transfer, the transferee also agrees in a writing, reasonably satisfactory in form and substance
to Acquiror, to assume all of the obligations of such Company Stockholder under, and be bound by all of the terms of, this Agreement;
provided, further, that any Transfer permitted under this Section 1.2 shall not relieve a Company Stockholder
of its obligations under this Agreement. Any Transfer in violation of this Section 1.2 with respect to a Company Stockholder’s
Subject Shares shall be null and void. Nothing in this Agreement shall prohibit direct or indirect transfers of equity or other
interests in a Company Stockholder.

 

Section 1.3     New
Shares. In the event that, during the period commencing on the date hereof and ending at the Expiration Time, (a) any
Subject Shares are issued to a Company Stockholder after the date of this Agreement pursuant to any stock dividend, stock split,
recapitalization, reclassification, combination or exchange of Subject Shares or otherwise, (b) a Company Stockholder purchases
or otherwise acquires beneficial ownership of any Subject Shares or (c) a Company Stockholder acquires the right to vote
or share in the voting of any Subject Shares (collectively the “New Securities”), then such New Securities
acquired or purchased by such Company Stockholder shall be subject to the terms of this Agreement to the same extent as if they
constituted the Subject Shares owned by such Company Stockholder as of the date hereof.

 

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Section 1.4     Agreement
to Vote. Hereafter until the Expiration Time, each Company Stockholder hereby unconditionally and irrevocably agrees
that, at any meeting of the Stockholders of the Company (or any adjournment or postponement thereof), and in any action by written
consent of the Stockholders of the Company requested by the Board of Directors of the Company or otherwise undertaken as contemplated
by the Transactions (which written consent shall be delivered promptly, and in any event within three (3) business days,
after the Proxy Statement/Registration Statement (as contemplated by the Merger Agreement) has been declared effective and has
been delivered or otherwise made available to the stockholders of Acquiror and the Company), such Company Stockholder shall, if
a meeting is held, appear at the meeting, in person or by proxy, or otherwise cause its Subject Shares to be counted as present
thereat for purposes of establishing a quorum, and such Company Stockholder shall vote or provide consent (or cause to be voted
or consented), in person or by proxy, all of its Subject Shares:

 

(a)     to
approve and adopt the Merger Agreement and the Transactions;

 

(b)     to
exercise all of such Company Stockholder’s Company Warrants in full on a cashless basis or terminate such Company Warrants
without exercise, as applicable, in accordance with their respective terms;

 

(c)     to
convert each share of Company Preferred Stock into one share of Company Common Stock;

 

(d)     to
authorize and approve the Merger to the extent the approval of any of the Company’s stockholders is required or applicable
pursuant to Section 3.3 of the Company’s Twelfth Amended and Restated Certificate of Incorporation;

 

(e)     to
exercise the drag-along rights, if applicable to the Merger, set forth in Section 4 of the Voting Agreement;

 

(f)      in
any other circumstances upon which a consent or other approval is required under the Company’s Governing Documents or the
Company Financing Agreements or otherwise sought with respect to the Merger Agreement or the Transactions, to vote, consent or
approve (or cause to be voted, consented or approved) all of such Company Stockholder’s Subject Shares held at such time
in favor thereof;

 

(g)     against
and withhold consent with respect to any merger, purchase of all or substantially all of the Company’s assets or other business
combination transaction (other than the Merger Agreement and the Transactions); and

 

(h)     against
any proposal, action or agreement that would (A) impede, frustrate, prevent or nullify any provision of this Agreement, the
Merger Agreement or the Merger, (B) result in a breach in any respect of any covenant, representation, warranty or any other
obligation or agreement of the Company under the Merger Agreement or (C) result in any of the conditions set forth in Article IX
of the Merger Agreement not being fulfilled.

 

Each Company Stockholder
hereby agrees that it shall not commit or agree to take any action inconsistent with the foregoing.

 

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Section 1.5      No
Challenges. Each Company Stockholder agrees not to commence, join in, facilitate, assist or encourage, and agrees to
take all actions necessary to opt out of any class in any class action with respect to, any claim, derivative or otherwise, against
Acquiror, Merger Sub, the Company or any of their respective successors or directors (a) challenging the validity of, or
seeking to enjoin the operation of, any provision of this Agreement or (b) alleging a breach of any fiduciary duty of any
person in connection with the evaluation, negotiation or entry into the Merger Agreement.

 

Section 1.6      Closing
Date Deliverables. Each of the Persons set forth on Schedule I will deliver, substantially simultaneously with
the Effective Time:

 

(a)      a
duly-executed copy of the Registration Rights Agreement substantially in the form attached as Exhibit C to the Merger Agreement;
and

 

(b)      a
duly executed copy of the Lock-Up Agreement substantially in the form attached as Exhibit F to the Merger Agreement.

 

Section 1.7      Further
Assurances. Each Company Stockholder shall execute and deliver, or cause to be delivered, such additional documents,
and take, or cause to be taken, all such further actions and do, or cause to be done, all things reasonably necessary (including
under applicable Laws), or reasonably requested by Acquiror or the Company, to effect the actions and consummate the Mergers and
the other transactions contemplated by this Agreement and the Merger Agreement (including the Transactions), in each case, on
the terms and subject to the conditions set forth therein and herein, as applicable.

 

Section 1.8      No
Inconsistent Agreement. Each Company Stockholder hereby represents and covenants that such Company Stockholder has
not entered into, and shall not enter into, any agreement that would restrict, limit or interfere with the performance of such
Company Stockholder’s obligations hereunder.

 

Section 1.9      Consent
to Disclosure. Each Company Stockholder hereby consents to the publication and disclosure in the Proxy Statement/Registration
Statement (and, as and to the extent otherwise required by applicable securities Laws or the SEC or any other securities authorities,
any other documents or communications provided by Acquiror or the Company to any Governmental Authority or to securityholders
of Acquiror) of such Company Stockholder’s identity and beneficial ownership of Subject Shares and the nature of such Company
Stockholder’s commitments, arrangements and understandings under and relating to this Agreement and, if deemed appropriate
by Acquiror or the Company, a copy of this Agreement. Each Company Stockholder will promptly provide any information reasonably
requested by Acquiror or the Company for any regulatory application or filing made or approval sought in connection with the Transactions
(including filings with the SEC).

 

Section 1.10    Termination
of Company Financing Agreements, Related Agreements. Each Company Stockholder, by this Agreement with respect to its
Subject Shares, severally and not jointly, hereby agrees to terminate, subject to the Closing and effective as of the Effective
Time, (a) all Affiliate Agreements to which such Company Stockholder is party that are set forth on Section 4.12(a) of
the Company Disclosure Letter, including those certain agreements set forth on Schedule II attached hereto, if applicable to such
Stockholder (the “Company Financing Agreements”); and (b) any rights under any letter or agreement providing
for redemption rights, put rights, purchase rights or other similar rights not generally available to stockholders of the Company
(clauses (a) and (b), collectively, the “Terminating Rights”) between such Company Stockholder and the
Company, but excluding, (i) for the avoidance of doubt, any rights such Company Stockholder may have that relate to any commercial
or employment agreements or arrangements between such Company Stockholder and the Company or any Subsidiary thereof, which shall
survive the Closing in accordance with their terms, and (ii) any indemnification, advancement of expenses and exculpation
rights of any Company Stockholder or any of its Affiliates set forth in the foregoing documents, which shall survive the Closing
in accordance with their terms; provided that all Terminating Rights between the Company and any other holder of Company Capital
Stock shall also terminate at such time.

 

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ARTICLE II

REPRESENTATIONS AND WARRANTIES

 

Section 2.1      Representations
and Warranties of the Company Stockholders. Each Company Stockholder represents and warrants as of the date hereof
to Acquiror and the Company (solely with respect to itself, himself or herself and not with respect to any other Company Stockholder)
as follows:

 

(a)     Organization;
Due Authorization. If such Company Stockholder is not an individual, it is duly organized, validly existing and in good standing
under the Laws of the jurisdiction in which it is incorporated, formed, organized or constituted, and the execution, delivery and
performance of this Agreement and the consummation of the transactions contemplated hereby are within such Company Stockholder’s
corporate, limited liability company or organizational powers and have been duly authorized by all necessary corporate, limited
liability company or organizational actions on the part of such Company Stockholder. If such Company Stockholder is an individual,
such Company Stockholder has full legal capacity, right and authority to execute and deliver this Agreement and to perform his
or her obligations hereunder. This Agreement has been duly executed and delivered by such Company Stockholder and, assuming due
authorization, execution and delivery by the other parties to this Agreement, this Agreement constitutes a legally valid and binding
obligation of such Company Stockholder, enforceable against such Company Stockholder in accordance with the terms hereof (except
as enforceability may be limited by bankruptcy Laws, other similar Laws affecting creditors’ rights and general principles
of equity affecting the availability of specific performance and other equitable remedies). If this Agreement is being executed
in a representative or fiduciary capacity, the Person signing this Agreement has full power and authority to enter into this Agreement
on behalf of the applicable Company Stockholder.

 

(b)     Ownership.
Such Company Stockholder is the record and beneficial owner (as defined in the Securities Act) of, and has good title to, all of
such Company Stockholder’s Subject Shares, and there exist no Liens or any other limitation or restriction (including any
restriction on the right to vote, sell or otherwise dispose of such Subject (other than transfer restrictions under the Securities
Act)) affecting any such Subject Shares, other than Liens pursuant to (i) this Agreement, (ii) the Company’s Governing
Documents, (iii) the Merger Agreement, (iv) the Company Financing Agreements or (v) any applicable securities Laws.
Such Company Stockholder’s Subject Shares are the only equity securities in the Company owned of record or beneficially by
such Company Stockholder on the date of this Agreement, and none of such Company Stockholder’s Subject Shares are subject
to any proxy, voting trust or other agreement or arrangement with respect to the voting of such Subject Shares, except as provided
hereunder and under the Company Financing Agreements. Other than the Company Warrants and any Company Options set forth opposite
such Company Stockholder’s name on Schedule I, such Company Stockholder does not hold or own any rights to acquire
(directly or indirectly) any equity securities of the Company or any equity securities convertible into, or which can be exchanged
for, equity securities of the Company.

 

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(c)      No
Conflicts. The execution and delivery of this Agreement by such Company Stockholder does not, and the performance by such Company
Stockholder of his, her or its obligations hereunder will not, (i) if such Company Stockholder is not an individual, conflict
with or result in a violation of the organizational documents of such Company Stockholder or (ii) require any consent or approval
that has not been given or other action that has not been taken by any Person (including under any Contract binding upon such Company
Stockholder or such Company Stockholder’s Subject Shares) to the extent such consent, approval or other action would prevent,
enjoin or materially delay the performance by such Company Stockholder of its, his or her obligations under this Agreement.

 

(d)      Litigation.
There are no Actions pending against such Company Stockholder, or to the knowledge of such Company Stockholder threatened against
such Company Stockholder, before (or, in the case of threatened Actions, that would be before) any arbitrator or any Governmental
Authority, which in any manner challenges or seeks to prevent, enjoin or materially delay the performance by such Company Stockholder
of its, his or her obligations under this Agreement.

 

(e)      Adequate
Information. Such Company Stockholder is a sophisticated stockholder and has adequate information concerning the business and
financial condition of Acquiror and the Company to make an informed decision regarding this Agreement and the Transactions and
has independently and without reliance upon Acquiror or the Company and based on such information as such Company Stockholder has
deemed appropriate, made its own analysis and decision to enter into this Agreement. Such Company Stockholder acknowledges that
Acquiror and the Company have not made and do not make any representation or warranty, whether express or implied, of any kind
or character except as expressly set forth in this Agreement. Such Company Stockholder acknowledges that the agreements contained
herein with respect to the Subject Shares held by such Company Stockholder are irrevocable.

 

(f)       Brokerage
Fees. Except as described on Section 4.16 of the Company Disclosure Letter, no broker, finder, investment banker or other
Person is entitled to any brokerage fee, finders’ fee or other commission in connection with the transactions contemplated
by the Merger Agreement based upon arrangements made by such Company Stockholder, for which the Company or any of its Affiliates
may become liable.

 

(g)      Acknowledgment.
Such Company Stockholder understands and acknowledges that each of Acquiror and the Company is entering into the Merger Agreement
in reliance upon such Company Stockholder’s execution and delivery of this Agreement.

 

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ARTICLE III

MISCELLANEOUS

 

Section 3.1      Termination.
This Agreement and all of its provisions shall terminate and be of no further force or effect upon the earlier of (a) the
Expiration Time and (b) as to each Company Stockholder, the written agreement of Acquiror, the Company and such Company Stockholder.
Upon such termination of this Agreement, all obligations of the parties under this Agreement will terminate, without any liability
or other obligation on the part of any party hereto to any Person in respect hereof or the transactions contemplated hereby, and
no party hereto shall have any claim against another (and no person shall have any rights against such party), whether under contract,
tort or otherwise, with respect to the subject matter hereof; provided, however, that the termination of this Agreement
shall not relieve any party hereto from liability arising in respect of any breach of this Agreement prior to such termination.
This ARTICLE III shall survive the termination of this Agreement.

 

Section 3.2      Governing
Law. This Agreement, and all claims or causes of action (whether in contract or tort) that may be based upon, arise
out of or relate to this Agreement or the negotiation, execution or performance of this Agreement (including any claim or cause
of action based upon, arising out of or related to any representation or warranty made in or in connection with this Agreement)
will be governed by and construed in accordance with the internal Laws of the State of Delaware applicable to agreements executed
and performed entirely within such State.

 

Section 3.3      CONSENT
TO JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL.

 

(a)     THE
PARTIES TO THIS AGREEMENT SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE STATE COURTS LOCATED IN WILMINGTON, DELAWARE OR THE COURTS
OF THE UNITED STATES LOCATED IN WILMINGTON, DELAWARE IN RESPECT OF THE INTERPRETATION AND ENFORCEMENT OF THE PROVISIONS OF THIS
AGREEMENT AND ANY RELATED AGREEMENT, CERTIFICATE OR OTHER DOCUMENT DELIVERED IN CONNECTION HEREWITH AND BY THIS AGREEMENT WAIVE,
AND AGREE NOT TO ASSERT, ANY DEFENSE IN ANY ACTION FOR THE INTERPRETATION OR ENFORCEMENT OF THIS AGREEMENT AND ANY RELATED AGREEMENT,
CERTIFICATE OR OTHER DOCUMENT DELIVERED IN CONNECTION HEREWITH, THAT THEY ARE NOT SUBJECT TO THE PERSONAL JURISDICTION THERETO
OR THAT SUCH ACTION MAY NOT BE BROUGHT OR IS NOT MAINTAINABLE IN SUCH COURTS OR THAT THIS AGREEMENT MAY NOT BE ENFORCED
IN OR BY SUCH COURTS OR THAT THEIR PROPERTY IS EXEMPT OR IMMUNE FROM EXECUTION, THAT THE ACTION IS BROUGHT IN AN INCONVENIENT
FORUM, OR THAT THE VENUE OF THE ACTION IS IMPROPER AND FURTHER AGREES NOT TO BRING ANY PROCEEDING OR ACTION ARISING OUT OF OR
RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY IN ANY OTHER COURT. SERVICE OF PROCESS WITH RESPECT THERETO
MAY BE MADE UPON ANY PARTY TO THIS AGREEMENT BY MAILING A COPY THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID,
TO SUCH PARTY AT ITS ADDRESS AS PROVIDED IN Section 3.8.

 

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(b)      WAIVER
OF TRIAL BY JURY. EACH PARTY HERETO ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT
IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES
ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING
TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (I) NO REPRESENTATIVE,
AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT
OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (II) EACH SUCH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS
OF THIS WAIVER, (III) EACH SUCH PARTY MAKES THIS WAIVER VOLUNTARILY, AND (IV) EACH SUCH PARTY HAS BEEN INDUCED TO ENTER
INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS Section 3.3.

 

Section 3.4      Assignment.
This Agreement and all of the provisions hereof will be binding upon and inure to the benefit of the parties hereto and their
respective heirs, successors and permitted assigns. Neither this Agreement nor any of the rights, interests or obligations hereunder
will be assigned (including by operation of law) without the prior written consent of the parties hereto.

 

Section 3.5      Specific
Performance. The parties hereto agree that irreparable damage may occur in the event that any of the provisions of
this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed
that the parties hereto shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce
specifically the terms and provisions of this Agreement in the chancery court or any other state or federal court within the State
of Delaware, this being in addition to any other remedy to which such party is entitled at law or in equity. In the event that
any Action shall be brought in equity to enforce the provisions of this Agreement, no party shall allege, and each party hereby
waives the defense, that there is an adequate remedy at law, and each party agrees to waive any requirement for the securing or
posting of any bond in connection therewith.

 

Section 3.6      Amendment;
Waiver. This Agreement may not be amended, changed, supplemented, waived or otherwise modified or terminated, except
upon the execution and delivery of a written agreement executed by Acquiror, the Company and the Company Stockholders.

 

Section 3.7      Severability.
If any provision of this Agreement is held invalid or unenforceable by any court of competent jurisdiction, the other provisions
of this Agreement will remain in full force and effect. Any provision of this Agreement held invalid or unenforceable only in
part or degree will remain in full force and effect to the extent not held invalid or unenforceable.

 

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Section 3.8      Notices.
All notices and other communications among the parties hereto shall be in writing and shall be deemed to have been duly given
(a) when delivered in person, (b) when delivered after posting in the United States mail having been sent registered
or certified mail return receipt requested, postage prepaid, (c) when delivered by FedEx or other nationally recognized overnight
delivery service or (d) when e-mailed during normal business hours (and otherwise as of the immediately following Business
Day), addressed as follows:

 

If to Acquiror:

 

ACE Convergence Acquisition Corp.

1013 Centre Road, Suite 403S

Wilmington, DE 19805

Attention:    Denis
Tse

Email:          denis@acev.io

 

with a copy to (which will not constitute notice):

 

Skadden, Arps, Slate,
Meagher & Flom LLP

525 University Avenue, Suite 1400

Palo Alto, CA 94301

Attention:    Michael Mies

Email:          michael.mies@skadden.com

 

If to the Company:

 

Achronix
Semiconductor Corporation

2903 Bunker Hill Lane, Suite 200

Santa Clara, CA 95054

Attention:    Robert
Blake

Email:          Robert.blake@achronix.com

 

with a copy to (which shall not
constitute notice):

 

Cooley LLP

3175 Hanover Street

Palo Alto, CA 94304

Attention:  Matthew Hemington

Email:   hemingtonmb@cooley.com

Attention:  Miguel Vega

Email:   mvega@cooley.com

 

If to a Company Stockholder:

 

To such Company Stockholder’s address set forth
in Schedule I

 

with a copy to (which will not constitute notice):

 

Cooley LLP

3175 Hanover Street

Palo Alto, CA 94304

Attention:  Matthew Hemington

Email:  hemingtonmb@cooley.com

Attention:  Miguel Vega

Email:  mvega@cooley.com

 

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Section 3.9     Counterparts.
This Agreement may be executed in two or more counterparts (any of which may be delivered by electronic transmission), each of
which shall constitute an original, and all of which taken together shall constitute one and the same instrument.

 

Section 3.10   Entire
Agreement. This Agreement and the agreements referenced herein constitute the entire agreement and understanding of
the parties hereto in respect of the subject matter hereof and supersede all prior understandings, agreements or representations
by or among the parties hereto to the extent they relate in any way to the subject matter hereof.

 

[THE REMAINDER OF THIS PAGE IS INTENTIONALLY
BLANK]

 

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IN
WITNESS WHEREOF, the Company Stockholders, Acquiror, and the Company have each caused this Stockholder Support Agreement to be
duly executed as of the date first written above.

 

	 	COMPANY STOCKHOLDERS:
	 	 
	 	/s/ Robert
    Blake
	 	Robert Blake

 

[Signature
Page to Stockholder Support Agreement]

 

     

     

    

 

IN
WITNESS WHEREOF, the Company Stockholders, Acquiror, and the Company have each caused this Stockholder Support Agreement to be
duly executed as of the date first written above.

 

	 	COMPANY STOCKHOLDERS:
	 	 
	 	/s/
    Mark Voll
	 	Mark Voll

 

[Signature
Page to Stockholder Support Agreement]

 

     

     

    

 

IN
WITNESS WHEREOF, the Company Stockholders, Acquiror, and the Company have each caused this Stockholder Support Agreement to be
duly executed as of the date first written above.

 

	 	COMPANY STOCKHOLDERS:
	 	 
	 	/s/
    Virantha Ekanayake, Ph.D.
	 	Virantha Ekanayake, Ph.D.

 

[Signature Page to Stockholder
Support Agreement]

 

     

     

    

 

IN WITNESS WHEREOF,
the Company Stockholders, Acquiror, and the Company have each caused this Stockholder Support Agreement to be duly executed as
of the date first written above.

 

	 	COMPANY STOCKHOLDERS:
	 	 
	 	/s/
    John Lofton Holt
	 	John Lofton Holt

 

[Signature Page to
Stockholder Support Agreement]

 

     

     

    

 

IN WITNESS WHEREOF,
the Company Stockholders, Acquiror, and the Company have each caused this Stockholder Support Agreement to be duly executed as
of the date first written above.

 

	 	COMPANY STOCKHOLDERS:
	 	 
	 	/s/ Homa
    Firouztash
	 	Homa Firouztash

 

[Signature Page to
Stockholder Support Agreement]

 

     

     

    

 

IN WITNESS WHEREOF,
the Company Stockholders, Acquiror, and the Company have each caused this Stockholder Support Agreement to be duly executed as
of the date first written above.

 

	 	COMPANY STOCKHOLDERS:
	 	 
	 	/s/ Anil
    Khatod
	 	Anil Khatod

 

[Signature Page to
Stockholder Support Agreement]

 

     

     

    

 

IN WITNESS WHEREOF,
the Company Stockholders, Acquiror, and the Company have each caused this Stockholder Support Agreement to be duly executed as
of the date first written above.

 

	 	COMPANY STOCKHOLDERS:
	 	 
	 	/s/ Thomas
    A. Lavin
	 	Thomas A. Lavin

 

[Signature Page to
Stockholder Support Agreement]

 

     

     

    

 

IN WITNESS WHEREOF,
the Company Stockholders, Acquiror, and the Company have each caused this Stockholder Support Agreement to be duly executed as
of the date first written above.

 

	 	COMPANY STOCKHOLDERS:
	 	 
	 	/s/
    Richard Schneider
	 	Richard Schneider

 

[Signature Page to
Stockholder Support Agreement]

 

     

     

    

 

IN WITNESS WHEREOF,
the Company Stockholders, Acquiror, and the Company have each caused this Stockholder Support Agreement to be duly executed as
of the date first written above.

 

	 	COMPANY STOCKHOLDERS:
	 	 
	 	/s/
    Somu Subramaniam
	 	Somu Subramaniam

 

[Signature Page to
Stockholder Support Agreement]

 

     

     

    

 

IN WITNESS WHEREOF,
the Company Stockholders, Acquiror, and the Company have each caused this Stockholder Support Agreement to be duly executed as
of the date first written above.

 

	 	COMPANY STOCKHOLDERS:
	 	 
	 	GKFF Ventures
	 	 
	 	By: Argonaut Private Equity, L.L.C., its Manager

 

	 	By:	/s/
    Robert Thomas
	 	 	Name:	Robert Thomas
	 	 	Title:	CIO

 

[Signature Page to
Stockholder Support Agreement]

 

     

     

    

 

IN WITNESS WHEREOF,
the Company Stockholders, Acquiror, and the Company have each caused this Stockholder Support Agreement to be duly executed as
of the date first written above.

 

	 	COMPANY STOCKHOLDERS:
	 	 
	 	GKFF Ventures
I, L.L.C.

	 	 
	 	By: Argonaut Private Equity, L.L.C., its Manager

 

 

	 	By:	/s/
    Robert Thomas
	 	 	Name:	Robert Thomas
	 	 	Title:	CIO

 

[Signature Page to
Stockholder Support Agreement]

 

     

     

    

 

IN WITNESS WHEREOF,
the Company Stockholders, Acquiror, and the Company have each caused this Stockholder Support Agreement to be duly executed as
of the date first written above.

 

 

	 	 	COMPANY STOCKHOLDERS:
	 	 	 
	 	 	NEW SCIENCE VENTURES FUN D 1 – EURO, L.P.
	 	 	 
	 	 	NEW SCIENCE VENTURES FUND 1, L.P.
	 	 	 
	 	 	NEW SCIENCE VENTURES FUND 1 – CROZET, L.P.
	 	 	 
	 	 	NEW SCIENCE VENTURES FUND 1 – Extension, l.p.
	 	 	 
	 	 	new science ventures fund iii (offshore), LP
	 	 	 
	 	 	new science ventures fund III, LP
	 	 	 
	 	 	new science ventures fund I – Madison, l.p.
	 	 	 
	 	 	nsv master limited partnership ii, lp
	 	 	 
	 	 	nsv 2016 opportunities fund, l.p.
	 	 	 
	 	 	nsv extension fund ii offshore, lp
	 	 	 
	 	 	nsv extension fund ii, lp
	 	 	 
	 	 	nsv new opportunities fund ii (offshore), lp
	 	 	 
	 	 	nsv new opportunities fund ii, lp
	 	 	 
	 	 	nsv new opportunities fund offshore, lp
	 	 	 
	 	 	NSV New Opportunities Fund, LP
	 	 	 
	 	 	nsv partners institutional, l.p.
	 	 	 
	 	 	nsv investments 1, lp
	 	 	 
	 	 	nsv 2016 opportunities fund (offshore), lp

 

	 	 	By:	/s/ Thomas A. Lavin
	 	 	Name:	Thomas A. Lavin
	 	 	Title:	Partner

 

[Signature
Page to Stockholder Support Agreement]

 

     

     

    

 

IN WITNESS WHEREOF,
the Company Stockholders, Acquiror, and the Company have each caused this Stockholder Support Agreement to be duly executed as
of the date first written above.

 

	 	 	COMPANY STOCKHOLDERS:
	 	 	 
	 	 	Easton Achronix, LLC
	 	 	 
	 	 	 
	 	 	By:	/s/ Richard Schneider
	 	 	 	Name:	Richard Schneider
	 	 	 	Title:	Manager

 

[Signature
Page to Stockholder Support Agreement]

 

     

     

    

 

IN WITNESS WHEREOF,
the Company Stockholders, Acquiror, and the Company have each caused this Stockholder Support Agreement to be duly executed as
of the date first written above.

 

 

 

	 	 	COMPANY STOCKHOLDERS:
	 	 	 
	 	 	Easton Achronix
II, LLC
	 	 	 
	 	 	 
	 	 	By:	/s/ Richard Schneider
	 	 	 	Name:	Richard Schneider
	 	 	 	Title:	Managing Member

 

[Signature
Page to Stockholder Support Agreement]

 

     

     

    

 

IN WITNESS WHEREOF,
the Company Stockholders, Acquiror, and the Company have each caused this Stockholder Support Agreement to be duly executed as
of the date first written above.

 

	 	 	COMPANY STOCKHOLDERS:
	 	 	 
	 	 	 Easton Capital Partners,
LP
	 	 	 
	 	 	 
	 	 	By:	/s/ Richard Schneider
	 	 	 	Name:	Richard Schneider
	 	 	 	Title:	Manager

 

[Signature
Page to Stockholder Support Agreement]

 

     

     

    

 

IN WITNESS WHEREOF,
the Company Stockholders, Acquiror, and the Company have each caused this Stockholder Support Agreement to be duly executed as
of the date first written above.

 

	 	 	COMPANY STOCKHOLDERS:
	 	 	 
	 	 	 Easton Hunt New York,
LP
	 	 	 
	 	 	 
	 	 	By:	/s/ Richard Schneider
	 	 	 	Name:	Richard Schneider
	 	 	 	Title:	Manager

 

[Signature
Page to Stockholder Support Agreement]

 

     

     

    

 

IN WITNESS WHEREOF,
the Company Stockholders, Acquiror, and the Company have each caused this Stockholder Support Agreement to be duly executed as
of the date first written above.

 

	 	 	COMPANY STOCKHOLDERS:
	 	 	 
	 	 	Easton Sagen,
LLC
	 	 	 
	 	 	 
	 	 	By:	/s/ Richard Schneider
	 	 	 	Name:	Richard Schneider
	 	 	 	Title:	Manager

 

[Signature
Page to Stockholder Support Agreement]

 

     

     

    

 

	 	 	ACQUIROR:
	 	 	 
	 	 	ACE CONVERGENCE ACQUISITION CORP.
	 	 	 
	 	 	 
	 	 	By:	/s/ Behrooz Abdi
	 	 	 	Name:	Behrooz Abdi
	 	 	 	Title:	Chief Executive Officer

 

[Signature
Page to Stockholder Support Agreement]

 

     

     

    

 

	 	 	COMPANY:
	 	 	 
	 	 	ACHRONIX SEMICONDUCTOR CORPORATION
	 	 	 
	 	 	 
	 	 	By:	/s/ Robert Blake
	 	 	 	Name:	Robert Blake
	 	 	 	Title:	President and Chief Executive Officer

 

[Signature
Page to Stockholder Support Agreement]

 

     

     

    

 

Schedule I 

Company Stockholder Subject Shares

 

	Holder	Shares
    of

    Common 

    Stock	Shares
    of

    Series A 

    Preferred 

    Stock	Shares
    of

    Series B 

    Preferred 

    Stock	Shares
    of

    Series C 

    Preferred 

    Stock	Shares
    of

    Series D 

    Preferred 

    Stock	Shares
    of

    Series D1 

    Preferred 

    Stock	Shares
    of

    Series D2 

    Preferred

    Stock	Stock

    Options	Restricted

    Stock 

    Units	Warrants	Notice
    Information
	Robert
    Blake	 	 	 	 	 	 	 	11,716,833	800,000	 	221
                                         Caldwell Avenue

        Los Gatos, CA 95032

        robert.blake@achronix.com

	Mark
    Voll	 	 	 	 	 	 	 	 	320,000	 	719
                                         Morningside Circle

        Los Altos, CA 94022

        markvoll@achronix.com

	Virantha
    Ekanayake	23,333	 	 	 	 	 	 	2,497,893	80,000	 	15
                                         S. Chester St.

        Baltimore, MD 21231

        virantha@achronix.com

	John
    Lofton Holt	92,306	 	 	 	 	 	 	260,977	48,000	 	411
                                         Walnut Street #16570

        Green Cove Springs, FL
        32043

        john@achronix.com

	Homa
    Firouztash 	 	 	 	 	 	 	 	100,000	32,000	 	6172
                                         N. Featherstone Circle

        Reno, NV 89511

        homaf7@gmail.com

	Anil
    Khatod1	 	 	 	 	 	 	 	 	 	 	GKFF
                                         Ventures

        6733 South Yale

        Attn: Anil Khatod

        akhatod@kfoc.net

	Thomas
    Lavin2	 	 	 	 	 	 	 	 	 	 	New
                                         Science Ventures

        299 Park Avenue

        New York, NY 10171

        Attn: Thomas Lavin

        tom@newscienceventures.com

	Richard
    Schneider3	 	 	 	 	 	 	 	 	 	 	797
                                         Third Ave. 7th Floor

        New York, NY 10017

        Attn: Richard Schneider

        schneider@eastoncapital.com

 

 

1
Anil Khatod is associated with the GKFF Funds.

2
Thomas Lavin is associated with the the New Science Ventures Funds.

3
Richard Schneider is associated with the Easton Funds.

 

[Schedule I to Stockholder Support
Agreement]

 

    

     

    

 

	Holder	Shares
    of

    Common 

    Stock	Shares
    of

    Series A 

    Preferred 

    Stock	Shares
    of

    Series B 

    Preferred 

    Stock	Shares
    of

    Series C 

    Preferred 

    Stock	Shares
    of

    Series D 

    Preferred 

    Stock	Shares
    of

    Series D1 

    Preferred 

    Stock	Shares
    of

    Series D2 

    Preferred

    Stock	Stock

    Options	Restricted

    Stock 

    Units	Warrants	Notice
    Information

	Somu
    Subramaniam4	 	 	 	 	 	 	 	 	 	 	New
                                         Science Ventures

        299 Park Avenue

        New York, NY 10171

        Attn: Somu Subramaniam

        somu@newscienceventures.com

	New
    Science Ventures Funds5	 	8,149,892	4,901,448	23,626,830	65,595,123	45,960,086	80,694,210	 	 	11	New
                                         Science Ventures

        299 Park Avenue

        New York, NY 10171

        Attn: Thomas Lavin

        tom@newscienceventures.com

	Easton
    Funds6	2,901,355	1,621,913	965,041	1,115,239	2,082,271	753,208	674,531	 	 	 	797
                                         Third Ave. 7th Floor

        New York, NY 10017

        Attn: Richard Schneider

        schneider@eastoncapital.com

	GKFF
    Funds7	 	 	5,875,440	2,548,616	696,6563	 	 	 	 	 	GKFF
                                         Ventures

        6733 South Yale

        akhatod@kfoc.net

	Total:	3,016,994	9,771,805	11,741,929	27,290,685	74,643,957	46,713,294	81,368,741	18,665,250	 	11	 

 

 

4
Somu Subramaniam is associate with the New Science Ventures Funds.

5
The term “New Science Ventures Funds” refers to New Science Ventures Fund I, L.P., New
Science Ventures Fund I – Crozet, L.P., New Science Ventures Fund I – Euro, L.P., New Science Ventures Fund I –
Extension, L.P., New Science Ventures Fund III, LP, New Science Ventures Fund III (Offshore), LP, New Science Ventures Fund I
 – Madison, L.P., NSV 2016 Opportunities Fund, L.P., NSV 2016 Opportunities Fund (Offshore), L.P., NSV Extension Fund II,
LP, NSV Extension Fund II Offshore, LP, NSV Investments I, L.P., NSV Master Limited Partnership II, LP, NSV New Opportunities
Fund, LP, NSV New Opportunities Fund II, LP, NSV New Opportunities Fund II (Offshore), LP, NSV New Opportunities Fund Offshore,
LP, and NSV Partners Institutional, L.P.

6
The term “Easton Funds” refers to Easton Achronix, LLC, Easton Achronix II, LLC, Easton
Capital Partners, LP, Easton Hunt New York, LP, and Easton Sagen, LLC.

7
The term “GKFF Funds” refers to GKFF Ventures and GKFF Ventures I, LLC.

 

[Schedule
I to Stockholder Support Agreement]

 

     

     

    

 

Schedule II

 

Company Financing Agreements

 

Sixth Amended and Restated Investor Rights Agreement, dated
as of December 21, 2016, by and among the Company and the parties listed thereto

 

Sixth Amended and Restated Right of First Refusal and Co-Sale
Agreement, dated as of December 21, 2016, by and among the Company and the parties listed thereto

 

Sixth Amended and Restated Stockholders’ Voting Agreement,
dated as of December 21, 2016, by and among the Company and the parties listed thereto

 

[Schedule
II to Stockholder Support Agreement]Exhibit 10.5

 

CONFIDENTIAL

 

FORM OF LOCK-UP AGREEMENT1

 

[l],
2021

 

ACE Convergence Acquisition Corp.

1013 Centre Road, Suite 403S

Wilmington, DE 19805

 

Re: Lock-Up Agreement

 

Ladies and Gentlemen:

 

This letter (this “Letter
Agreement”) is being delivered to you in accordance with the Agreement and Plan of Merger (the “Merger
Agreement”) entered into by and among ACE Convergence Acquisition Corp., a Cayman Islands exempted company limited
by shares (which shall domesticate as a Delaware corporation prior to the Closing) (“Acquiror”), [Merger
Sub], a Delaware corporation (“Merger Sub”), and Achronix Semiconductor Corporation, a Delaware corporation
(the “Company”), pursuant to which, among other things, Merger Sub will be merged with and into the Company
on the date hereof (the “Merger”), with the Company surviving the Merger as a wholly-owned subsidiary
of Acquiror. Capitalized terms used but not defined herein shall have the respective meanings ascribed to such terms in the Merger
Agreement.

 

In order to induce
Acquiror to proceed with the Merger and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the undersigned (the “Securityholder”) hereby agrees with Acquiror as follows:

 

1.            Subject
to the exceptions set forth herein, the Securityholder agrees not to, without the prior written consent of the board of directors
of Acquiror, (i) sell, offer to sell, contract or agree to sell, hypothecate, pledge, grant any option, right or warrant to
purchase or otherwise transfer, dispose of or agree to transfer or dispose of, directly or indirectly, or establish or increase
a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”), and the rules and regulations of the Securities
and Exchange Commission promulgated thereunder, any shares of Acquiror Common Stock held by it immediately after the effective
time of the Merger, any shares of Acquiror Common Stock issuable upon the exercise of options to purchase shares of Acquiror Common
Stock held by it immediately after the effective time of the Merger, or any securities convertible into or exercisable or exchangeable
for Acquiror Common Stock held by it immediately after the effective time of the Merger (the “Lock-up Shares”),
(ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences
of ownership of any of the Lock-up Shares, whether any such transaction is to be settled by delivery of such securities, in cash
or otherwise or (iii) publicly announce any intention to effect any transaction specified in clause (i) or (ii) (the
actions specified in clauses (i)-(iii), collectively, “Transfer”) until 365 days after the Closing date
of the Merger (the “Lock-Up Period”), subject to the early release provisions set forth in Section 4
below.

 

2.            The
restrictions set forth in paragraph 1 shall not apply to:

 

 

 

1 Note
to Draft: Lock Up Agreement to be signed by (i) Sponsor and (ii) Company directors, executive officers and all Company
holders of more than 1% of Acquiror Common Stock.

 

    1 

    

    

 

		(i)	in the case of an entity, Transfers (A) to another entity that is an affiliate (as defined
in Rule 405 promulgated under the Securities Act of 1933, as amended) of the undersigned, or to any investment fund or other
entity controlling, controlled by, managing or managed by or under common control with the undersigned or affiliates of the undersigned
or who shares a common investment advisor with the undersigned or (B) as part of a distribution to members, partners, shareholders
or equity holders of the undersigned;

 

		(ii)	in the case of an individual, Transfers by gift to members of the individual’s immediate
family (as defined below) or to a trust, the beneficiary of which is a member of one of the individual’s immediate family,
an affiliate of such person or to a charitable organization;

 

		(iii)	in the case of an individual, Transfers by virtue of laws of descent and distribution upon death
of the individual;

 

		(iv)	in the case of an individual, Transfers by operation of law or pursuant to a court order, such
as a qualified domestic relations order, divorce decree or separation agreement;

 

		(v)	in the case of an individual, Transfers to a partnership, limited liability company or other entity
of which the undersigned and/or the immediate family (as defined below) of the undersigned are the legal and beneficial owner of
all of the outstanding equity securities or similar interests;

 

		(vi)	in the case of an entity that is a trust, Transfers to a trustor or beneficiary of the trust or
to the estate of a beneficiary of such trust;

 

		(vii)	in the case of an entity, Transfers by virtue of the laws of the state of the entity’s organization
and the entity’s organizational documents upon dissolution of the entity;

 

		(viii)	Transfers of any shares of Acquiror Common Stock or other securities acquired as part of the PIPE
Investment (as defined in the Merger Agreement) or issued in exchange for, or on conversion or exercise of, any securities issued
as part of the PIPE Investment;

 

		(ix)	Transfers relating to Acquiror Common Stock or other securities convertible into or exercisable
or exchangeable for Acquiror Common Stock acquired in open market transactions after the Closing, provided that no such
transaction is required to be, or is, publicly announced (whether on Form 4, Form 5 or otherwise, other than a required
filing on Schedule 13F, 13G or 13G/A) during the Lock-Up Period;

 

		(x)	the exercise of stock options or warrants to purchase shares of Acquiror Common Stock or the
                                                               vesting of stock awards of Acquiror Common Stock and any related transfer of shares of Acquiror Common Stock in connection
                                                               therewith (x) deemed to occur upon the “cashless” or “net” exercise of such options or warrants
                                                               or (y) for the purpose of paying the exercise price of such options or warrants or for paying taxes due as a result of
                                                               the exercise of such options or warrants, the vesting of such options, warrants or stock awards, or as a result of the
                                                               vesting of such shares of Acquiror Common Stock, it being understood that all shares of Acquiror Common Stock received upon
                                                               such exercise, vesting or transfer will remain subject to the restrictions of this Letter Agreement during the Lock-Up
                                                               Period2;

 

 

 

2
Note to Skadden: We need to allow for sell to cover of ~750,000 RSUs that vest at a 1-year cliff in Dec. 2021 to
avoid a cash withholding hit for the company at such time. Remainder vests semiannually so no more vesting during the lockup period
after this initial tranche.

 

    2 

    

    

 

		(xi)	Transfers to Acquiror pursuant to any contractual arrangement in effect at the effective time of
the Merger that provides for the repurchase by Acquiror or forfeiture of Acquiror Common Stock or other securities convertible
into or exercisable or exchangeable for Acquiror Common Stock in connection with the termination of the Securityholder’s
service to Acquiror;

 

		(xii)	the entry, by the Securityholder, at any time after the effective time of the Merger, of any trading
plan providing for the sale of shares of Acquiror Common Stock by the Securityholder, which trading plan meets the requirements
of Rule 10b5-1(c) under the Exchange Act, provided, however, that such plan does not provide for, or permit,
the sale of any shares of Acquiror Common Stock during the Lock-Up Period and no public announcement or filing is voluntarily made
or required regarding such plan during the Lock-Up Period;

 

		(xiii)	Transfers in the event of completion of a liquidation, merger, stock exchange, reorganization or
other similar transaction which results in all of Acquiror’s securityholders having the right to exchange their shares of
Acquiror Common Stock for cash, securities or other property; and

 

		(xiv)	Transfers to satisfy any U.S. federal, state, or local income tax obligations of the Securityholder
(or its direct or indirect owners) arising from a change in the U.S. Internal Revenue Code of 1986, as amended (the “Code”),
or the U.S. Treasury Regulations promulgated thereunder (the “Regulations”) after the date on which the
Merger Agreement was executed by the parties, and such change prevents the Merger from qualifying as a “reorganization”
pursuant to Section 368 of the Code (and the Merger does not qualify for similar tax-free treatment pursuant to any successor
or other provision of the Code or Regulations taking into account such changes), in each case solely and to the extent necessary
to cover any tax liability as a direct result of the transaction.

 

provided, however, that (A) in
the case of clauses (i) through (vii), these permitted transferees must enter into a written agreement, in substantially
the form of this Letter Agreement (it being understood that any references to “immediate family” in the agreement
executed by such transferee shall expressly refer only to the immediate family of the Securityholder and not to the immediate
family of the transferee), agreeing to be bound by these Transfer restrictions. For purposes of this paragraph, “immediate
family” shall mean a spouse, domestic partner, child (including by adoption), father, mother, brother or sister of the undersigned,
and lineal descendant (including by adoption) of the undersigned or of any of the foregoing persons; and “affiliate”
shall have the meaning set forth in Rule 405 under the Securities Act of 1933, as amended.

 

    3 

    

    

 

3.            In
the event that Acquiror releases or waives, in full or in part, any party from a lock-up agreement entered into in connection with
the Closing of the Merger, then the same number of Lock-up Shares held by the undersigned as held by such released party shall
be immediately and fully released on the same terms from the applicable prohibition(s) set forth herein. The foregoing provisions
of this paragraph will not apply if (i) the release or waiver is granted to a holder of Acquiror Common Stock in connection
with a follow-on public offering of Acquiror Common Stock pursuant to a registration statement filed with the SEC, whether or not
such offering or sale is wholly or partially a secondary offering of the Acquiror Common Stock, and the undersigned, only to the
extent the undersigned has a contractual right to demand or require the registration of the undersigned’s Acquiror Common
Stock or “piggyback” on a registration statement filed by Acquiror for the offer and sale of its Acquiror Common Stock,
has been given an opportunity to participate on a basis consistent with such contractual rights in such follow-on offering, (ii)(a) the
release or waiver is effected solely to permit a transfer not for consideration and (b) the transferee has agreed in writing
to be bound by the same terms described in this letter to the extent and for the duration that such terms remain in effect at the
time of the transfer, (iii) the aggregate number of Lock-Up Shares affected by such releases or waivers (whether in one or
multiple releases or waivers) with respect to any particular beneficial or record holder of Lock-Up Shares is less than or equal
to 1% of the total number of outstanding shares of Common Stock then-outstanding (on a fully-diluted basis, calculated as of the
date of such release or waiver), or (iv) the Acquiror determines in its sole discretion that a release or waiver should be
granted to a record or beneficial holder of Lock-Up Shares due to circumstances of emergency or hardship. In the event that Acquiror
changes, amends, modifies or waives (other than to correct a typographical error) any particular provision of any other lock-up
agreement entered into in connection with the closing of the Merger, then the undersigned shall be offered the option (but not
the requirement) to make a corresponding change, amendment, modification or waiver to this Letter Agreement.

 

4.            The
Lock-Up Period shall terminate upon the earlier of (i) 365 days after the Closing date of the Merger, (ii) the closing
of a merger, liquidation, stock exchange, reorganization or other similar transaction after the Closing date of the Merger that
results in all of the public stockholders of Acquiror having the right to exchange their shares of Acquiror Common Stock for cash
securities or other property, or (iii) the day after the date on which the closing price of the Acquiror Common Stock equals
or exceeds $12.00 per share (as adjusted for stock splits, stock capitalizations, reorganizations, recapitalizations and the like)
for any 20 trading days within any 30-trading day period commencing at least 150 days after the Closing date of the Merger.

 

5.            In
furtherance of the foregoing, Acquiror, and any duly appointed transfer agent for the registration or transfer of the securities
described therein, are hereby authorized to decline to make any transfer of securities if such transfer would constitute a violation
or breach of this Letter Agreement.

 

6.            This
Letter Agreement [replaces Section 7(a) of that certain Letter Agreement, dated July 27, 2020, among Acquiror,
ACE Convergence Acquisition LLC, and Acquiror’s officers and directors, which Section 7(a) shall be
terminated and, to the extent previously applicable to Securityholder, of no further effect with respect to Securityholder
upon the Closing of the Merger, and]
3  constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter
hereof and supersedes all prior understandings, agreements or representations by or among the parties hereto, written or
oral, to the extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter
Agreement may not be changed, amended, modified or waived (other than to correct a typographical error) as to any particular
provision, except by a written instrument executed by the undersigned (i) Securityholder and (ii) Acquiror.

 

7.            No
party hereto may assign either this Letter Agreement or any of its rights, interests or obligations hereunder without the prior
written consent of the other party. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall
not operate to transfer or assign any interest or title to the purported assignee. This Letter Agreement shall be binding on the
Securityholder and each of its respective successors, heirs and assigns and permitted transferees.

 

 

 

3
To be included for sponsor and ACE D&O lockups only.

 

    4 

    

    

 

8.            This
Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Delaware, without
giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.
The parties hereto (i) all agree that any action, proceeding, claim or dispute arising out of, or relating in any way to,
this Letter Agreement shall be brought and enforced in the Delaware Chancery Court, and irrevocably submit to such jurisdiction
and venue, which jurisdiction and venue shall be exclusive and (ii) waive any objection to such exclusive jurisdiction and
venue or that such courts represent an inconvenient forum.

 

9.            This
Letter Agreement shall terminate on the earlier of (i) the expiration of the Lock-up Period and (ii) the liquidation
of Acquiror.

 

[remainder of page intentionally
left blank]

 

    5 

    

    

 

	 	Very truly yours,
	 	 
	 	If stockholder is an individual:
	 	 
	 	Signature:	 
	 	 
	 	Print Name:	 

 

	 	If stockholder is an entity:
	 	 
	 	Name of Stockholder:	 
	 	 
	 	Signature:	 
	 	 
	 	Name:	 
	 	 
	 	Title:	 

 

[Signature Page to Lock-Up Agreement]

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