Document:

EX-10.12

 EXHIBIT 10.12 

[*]  = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE
COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

MASTER PURCHASE AGREEMENT FOR 10 GIGABIT ETHERNET PHYSICAL LAYER DEVICES 

Agreement #: ___________________ 
 Effective
Date:                     1/15/2009 
 Expiration
Date:                    1/15/2019 
 CNDA
#:                      4043669 
  

	BUYER:	Intel Corporation (and all Intel Subsidiaries and Affiliates, hereinafter “Buyer” or “Intel”). 

	    	2200 Mission College Blvd 

	    	Santa Clara, CA 95054-1549 

  

	SUPPLIER:	Aquantia Corporation (hereinafter referred to as “Supplier” or “Aquantia”), 

	    	700 Tasman Drive 

	    	Milpitas, CA 95035 

	    	Tel 408.228.8300 

  

					
	Addenda attached hereto and	 	☒	  	Terms and Conditions of Purchase Agreement Services
	incorporated herein by reference	 	☒	  	A. Statement of Work
	(Mark “X” where applicable):	 	☒	  	B. Performance Standards
		 	☒	  	C. Supplemental Provisions (Quality)
		 	☒	  	D. Protection of Intel’s Assets

 Recitals 
 This Master
Purchase Agreement for 10 Gigabit Ethernet Physical Layer Devices (“Agreement”) is intended by Buyer and Supplier to provide the governing terms and conditions under which: 

 

	1.	 Buyer may procure Items consisting of specific types and amounts of 10 Gigabit Ethernet Physical Layer Devices from
Supplier at various times over the term of the Agreement. 

	2.	Supplier will perform custom work for Buyer relative to the Items. 

 This Agreement shall support an
unlimited number of Project Statements over its term, each of which will specify the unit pricing, scope of work, and performance standards of a specific type of 10 Gigabit Ethernet Physical Layer Device that Buyer intends to purchase from Supplier.
Such Project Statements shall be compiled into Addendum A and referenced in consecutive order (e.g., Project Statement #1 of Addendum A, Project Statement #2 of Addendum A, etc.). All Purchase Orders issued to Supplier by Buyer during the term of
this Agreement shall be governed only by the Terms and Conditions of this Agreement notwithstanding any preprinted terms and conditions on Supplier’s acknowledgment or Buyer’s Purchase Order. Any additional or different terms in
Supplier’s documents are hereby deemed to be material alterations and notice of objection to and rejection of them is hereby given by Buyer. Any additional or different terms in Buyer’s documents are hereby deemed to be material
alterations and notice of objection to and rejection of them is hereby given by Supplier. When Buyer is a subsidiary of Intel, the obligations of the parties run between such subsidiary and the Supplier, and not between Intel Corporation and the
Supplier, but any breach by such Intel Subsidiary shall be deemed a breach by Intel Corporation itself. 
  

									
	INTEL	 		 	AQUANTIA CORPORATION
					
	Signature:	 	/s/ Tom Swinford	 		 	Signature:	 	/s/ Phil Delansay

									
					
	Printed Name:	 	Tom Swinford	 		 	Printed Name:	 	Phil Delansay

									
					
	Title:	 	VP and GM, LAN Access Davison	 		 	Title:	 	President & CEO

									
					
	Date:	 	1/15/2009	 		 	Date:	 	January 15, 2009

 
 Terms and Conditions of Purchase Agreement — Goods 

 

	1.	 DEFINITIONS 

	A.	 “Hazardous Materials” are or contain dangerous goods, chemicals, contaminants, substances, pollutants, or any
other materials that are defined as hazardous by relevant local, state, national, or international law, regulations, and standards. 

	B.	 “Items” means the goods that Supplier is to provide to Buyer as set forth on Addendum A. Any Custom Item shall
be indicated by an asterisk (*) on Addendum A or shall otherwise be noted as a Custom Item. 

	C.	 “Purchase Order” is Buyer’s document setting forth specific line Items ordered and Release information.

	D.	 “Release” means Buyer’s authorization to Supplier to ship in accordance with the Buyer’s Purchase
Order, and authorizing Supplier to ship a definite quantity of Items on a specified schedule. The Release is contained in the Purchase Order sent to Supplier. 

Definitions E through S are added by Addendum C 

	T.	 “Subsidiary” of a party is an Affiliate Controlled by such party directly, or indirectly through one or
more intermediaries. 

	U.	 “Control” (including the terms “controlling”, “controlled by”, and “under
common control with”) means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of an entity, whether through the ownership of voting securities, by contract, or otherwise.

  

	2.	 TERM OF AGREEMENT 

	A.	 The term of this Agreement shall begin on the Effective Date and continue to the Expiration Date (stated on the signature
page). 

	B.	 At Buyer’s option, Items may be scheduled for delivery up to six (6) months following expiration of this
Agreement. 

  

	3.	 PRICING 

	A.	 The pricing for Items provided under this Agreement is set forth on Addendum A. At Buyer’s request, such pricing may
be modified pursuant to periodic negotiations between the parties. Notwithstanding such periodic negotiations, under no circumstances shall such negotiated price exceed the price ceiling or price reduction schedule set forth on Addendum A for a
period of 18 months from the effective date of the latest negotiated price. 

	B.	 Paragraph reserved 

	C.	 Paragraph reserved 

	D.	 Paragraph reserved 

	E.	 All applicable taxes, including but not limited to sales/use taxes, transaction privilege taxes, value-added taxes (VAT),
general services taxes (GST), gross receipts taxes, and other charges such as duties, customs, tariffs, imposts, and government imposed surcharges shall be stated separately on Supplier’s invoice and shall be paid by Buyer to Supplier. Supplier
shall remit all such charges to the appropriate tax authority unless Buyer provides sufficient proof of tax exemption acceptable to the taxing authorities in lieu of paying certain taxes. In the event that Buyer is prohibited by law from making
payments to Supplier unless Buyer deducts or withholds taxes and remits such taxes to the local taxing jurisdiction, then Buyer shall duly withhold such taxes and shall pay to Supplier the remaining net amount after the taxes have been withheld.
Buyer shall not reimburse Supplier for the amount of such taxes withheld. When property is delivered and/or services are provided or the benefit of services occurs within jurisdictions in which Supplier collection and remittance of taxes is required
by law, Supplier shall have sole responsibility for payment of said taxes to the appropriate tax authorities. In the event Supplier does not collect tax from Buyer, and is subsequently audited by any tax authority, liability of Buyer will be limited
to the tax assessment, with no reimbursement for penalty or interest charges, unless the penalty or interest charges result from submission of invalid information by Buyer. Each party is responsible for its own

	 	 
respective income taxes or taxes based upon net revenues, including but not limited to business and occupation taxes. 

	F.	 Additional costs, except those described on Addendum A, will not be reimbursed without Buyer’s prior written
approval. 

  

	4.	 INVOICING AND PAYMENT 

	A.	 Prompt payment discounts will be computed from the latest of: [*]. Payment is made when Buyer’s check is mailed or
EDI funds transfer initiated. Buyer shall make payment within [*] of Buyer’s receipt of the proper original invoice or Buyer’s receipt of Items, whichever is later. 

	B.	 Original invoices or packing lists shall be submitted and shall include: purchase agreement number from the Purchase
Order, Purchase Order number, line Item number, Release number, part number, complete bill to address, description of items, quantities, unit price, extended totals, and any applicable taxes or other charges. All costs forwarded to Buyer for
reimbursement of expenses agreed under the terms of this Agreement shall be net of any reclaimable Value Added Taxes (“VAT”) incurred on such expenses. Buyer’s payment shall not constitute acceptance of the Items.

	C.	 Supplier agrees to invoice Buyer no later than [*] after shipment of Items. Buyer will not be obligated to make payment
against any invoices submitted after such period. 

  

	5.	 TERMINATION FOR CONVENIENCE 

	A.	 Buyer may terminate this Agreement or any Purchase Order or Release issued, or any part thereof, at any time for its sole
convenience by giving written notice of termination to Supplier. Upon Supplier’s receipt of such notice, Supplier shall, unless otherwise specified in such notice, immediately stop all work hereunder and give prompt written notice to and cause
all of its suppliers or subcontractors to cease all related work. 

	B.	 Any claim for termination charges for Custom Items, along with a summary of all mitigation efforts, must be submitted to
Buyer in writing within [*] after receipt of Buyer’s termination notice. 

	C.	 Supplier’s claim may include the net cost of custom work in process scheduled to be delivered within fifty-six
(56) days and that must be scrapped due to the termination. Supplier shall, wherever possible, place such custom work in process in its inventory and sell it to other customers. In no event shall such claim exceed the total price for the Items
terminated. Upon payment of Supplier’s claim. Buyer shall be entitled to all work and materials paid for. 

	D.	 Before assuming any payment obligation under this section, Buyer may inspect Supplier’s work in process and audit
(in accordance with Section 14 “Retentions and Audit”) all relevant documents. 

	E.	 Notwithstanding anything else in this Agreement, failure to meet the delivery date(s) in the Purchase Order shall allow
Buyer to terminate the order for the Item and/or any subsequent Releases in the Purchase Order without any liability whether the Purchase Order was for standard or custom Items. 

 

	5A.	 TERMINATION FOR BREACH 

	  	 If either party commits a material breach of any obligation hereunder, the other party may, at its option, terminate this
Agreement or the affected Purchase Order or Release by [*] written notice to the breaching party. Such notice shall state the breach upon which termination is based. Notwithstanding such notice, termination shall not occur if such breach is cured
within the notice period. 

  

	6.	 CONTINGENCIES 

	    	 Neither party shall be responsible for its failure to perform due to causes beyond its reasonable control, such as acts
of God, fire, theft, war, riot, embargoes or acts of civil or military authorities. If delivery is to be delayed by such contingencies, Supplier shall promptly notify Buyer in writing and Buyer may either: (i) extend time of performance; or
(ii) terminate all or part of the uncompleted portion of the Purchase Order at no cost to Buyer if the scheduled shipment date is at least 56 days after the cancellation date.

 

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 

	7.	 DELIVERY, RELEASES, AND SCHEDULING 

	A.	 Buyer shall provide monthly, no later than the 15th day of each month, a non-binding [*] month rolling order forecast
specifying the anticipated number of Items expected to be ordered. The non-binding [*] month forecast shall be provided to the Aquantia Account Manager or his/her designee. Any forecasts provided by Buyer are for planning purposes only and do not
constitute a Release or other commitment by Buyer. 

	B.	 Supplier shall notify Buyer in writing within [*] of receipt of Buyer’s Purchase Order if Supplier is unable to make
any scheduled delivery and shall state the reasons therefore. The absence of such notice constitutes acceptance of the Purchase Order and commitment to the Release terms. 

	C.	 Supplier shall deliver Items per the Release schedule and Buyer may return non-conforming shipments at Supplier’s
risk and expense. 

	D.	 Buyer may reschedule any Release in whole or in part prior to the Release date at no additional charge. Buyer shall
inform Supplier of the new delivery date so long as the delivery date under the rescheduled Release is within [*] of the original date. 

	E.	 Buyer may place any portion of a Release on hold by notice that shall take effect immediately upon receipt. Releases
placed on hold will be rescheduled or terminated in accordance with Section 5 within a reasonable time 

	F.	 Buyer shall have no obligation with respect to the purchase of Items under this Agreement until such Items are specified
in an issued Purchase Order that contains specific Release dates for specific Items. 

	G.	 If for any reason Supplier discontinues the manufacture of any Custom Item during the term of this Agreement or within
[*] after the final delivery under this Agreement, Supplier shall give Buyer at least [*] prior written notice of such Item discontinuance during which time Buyer shall have the option to place a final Release for such Items for delivery to Buyer
within an agreed upon period. If any warranty return claims are made for such discontinued Items, then such returns will be subject to the warranty provisions in Section 8. 

 

	8.	 ACCEPTANCE AND WARRANTY 

	A.	 Buyer may inspect and test all Items at reasonable times before, during, and after manufacture and upon reasonable notice
during Supplier’s and Supplier’s manufacturing vendor’s’ normal business hours. If any inspection or test is made on Supplier’s premises, Supplier shall provide reasonable facilities and assistance for the safety and
convenience of Buyer’s inspectors in such manner as shall not unreasonably hinder or delay Supplier’s performance. All Items shall be received subject to Buyer’s inspection, testing, approval, and acceptance at Buyer’s premises
notwithstanding any inspection or testing at Supplier’s premises or any prior payment for such Items. Quoted pricing is FCA Aquantia Shipping Dock. Items subject to return may be returned to Supplier at Supplier’s risk and expense and, at
Buyer’s request, shall be promptly replaced, refunded or credited according to the procedures provided herein below. 

	B.	 Supplier makes the following warranties regarding items furnished hereunder, which warranties shall survive any delivery,
inspection, acceptance, payment, or resale of the Items: 

	 	(i)	 Items will not infringe any 3rd party’s intellectual property
rights, and the sole remedy for a breach of this warranty is as stated in Section 13 “Intellectual Property Indemnification”; 

	 	(ii)	 Supplier has the necessary right, title, and interest to provide said Items to Buyer, and the Items will be free of liens
and encumbrances. 

	 	(iii)	 Items are new and of the grade and quality specified; 

	 	(iv)	 Items are free from defects in workmanship and material, substantially conform to all samples, drawings, descriptions,
and specifications furnished or published in non-draft form by Supplier, and to any other agreed-to specifications, and the sole remedy for a breach of this warranty as stated in Paragraph C of this Section; 

	 	(v)	 Items conform to the manufacturing quality provisions set

	 	 
forth in Addendum B and the sole remedy for a breach of this warranty is as stated in Paragraph C of this Section; 

	    	 Buyer makes the following warranties regarding intellectual property and technology furnished to Supplier: The
intellectual property and technology will not infringe any party’s intellectual property rights, and the sole remedy for a breach of this warranty is as stated in Section 13 “Intellectual Property Indemnification”.

	C.	 If Supplier breaches any of the foregoing warranties stated above in (iv) or (v), or Items are otherwise defective
or non-conforming, during a period of three (3) years after Buyer’s acceptance of Items, Supplier shall, at Buyer’s option, promptly rescreen, repair, replace, or refund the amount paid for such Items. Replaced Items are warranted for
ninety (90) days or the balance of the original warranty period, whichever is longer. Supplier shall bear the cost of shipping for the return of defective or non-conforming items to Supplier and shall bear the risk of loss of all defective or
non-conforming Items while in transit. 

	D.	 Warranties Exclusive. 

	    	 (1) Sole Remedy:    Buyer’s sole remedy for breach of the express warranties above shall
be rescreen, replacement, or refund or credit of the purchase price as specified above, at Buyer’s option. To the fullest extent allowed by law, the warranties and remedies set forth in this agreement are exclusive and in lieu of all other
warranties or conditions, express or implied, either in fact or by operation of law statutory or otherwise, including but not limited to warranties, terms or conditions of merchantability, fitness for a particular purpose, satisfactory quality,
particular purpose, satisfactory quality, correspondence with description, non-infringement and accuracy of information generated, all of which are expressly disclaimed. Aquantia’s warranties herein run only to Buyer and are not extended to any
third parties, which for the avoidance of doubt, includes any agents or resellers of Buyer items and end users. Aquantia neither assumes nor authorizes any other person to assume for it. Any other liability in connection with the sale, installation,
maintenance or use of the items. 

	    	 (2) No Aquantia Defect.    Aquantia shall not be liable under the warranties set forth in
Section 8.B.(iv) or (v) if its testing and examination clearly establish that the alleged defect in the item does not exist or was caused by Buyer’s, end users’ or any third person’s misuse, negligence, improper installation
or improper testing, attempts to repair by accident, fire, lightning or other cause beyond Aquantia’s control and such was the cause of the breach of such express warranty. Aquantia shall not be liable under the warranties set forth in
Section 8.B(iv) or (v) if it can clearly establish such any defect or non-conformance is caused by an intellectual property provided by Buyer. 

	    	 (3) Buyer Responsibilities.    Buyer acknowledges and agrees that Buyer is solely responsible
for the selection of the Items, their ability to achieve the results Buyer intends, their use with any hardware, software, peripherals or any system, and the performance that Buyer, Buyer’s customers and end users obtain from using them. Buyer
alone shall assume any and all warranty obligations with customers and end users for each Buyer product that incorporates the Items, and Buyer has no authority to obligate Aquantia in any way under each such warranty. 

	E.	 RMA Policy and Procedures. The parties will agree to mutually acceptable RMA policy and procedures.

 8A. LIMITATION OF LIABILITY 

	A.	 No Non-Direct Damages - Limitation A party’s liability hereunder shall be limited to direct, objectively
measurable damages. In no event shall either part have any liability for any indirect or speculative damages (including, without limiting the foregoing, punitive, consequential, incidental and special damages) including, but not limited to, loss of
profits, irrespective of whether the party has advance notice of the possibility of any such damages. The parties agree that the foregoing limits shall not apply to breaches of the confidential obligations set forth in [*] or claims arising from
death, bodily injury, or property damage. 

  

	9.	 PRODUCT SPECIFICATIONS/ IDENTIFICATION/ERRATA

 

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 

	A.	 Supplier shall not modify the specifications for items without Buyer’s written consent. Supplier shall notify Buyer
at least [*] in advance of any changes in the manufacturing process. 

	B.	 Supplier shall cooperate with Buyer to provide configuration control and traceability systems for Items supplied
hereunder. 

	C.	 Supplier shall provide Buyer with an errata list for each Item and Shall promptly notify Buyer in writing of any new
errata with respect to the Items. 

  

	10.	 PACKING AND SHIPMENT 

	A.	 All Items shall be prepared for shipment in a manner that, (i) follows good commercial practice; (ii) is
acceptable to common carriers for shipment at the lowest rate; and (iii) is adequate to ensure safe arrival. Supplier shall mark all containers with necessary lifting, handling and shipping information, Purchase Order number, date of shipment,
and the names of the Buyer and Supplier. Buyer shall notify Supplier of the method of shipment and expected delivery date. If no instructions are given, Supplier shall select the most cost effective carrier, given the time constraints known to
Supplier. Subject to Paragraph 7(C), Supplier shall ship only the quantity of Items specified in the Release. Buyer may return at Supplier’s expense any Items in excess of the quantity stated in the Release or retain such Items, as instructed
by Buyer. 

	B.	 As directed by Buyer, freight shall be either managed by Supplier or Buyer in accordance with the following terms and
conditions: 

	    	 (i) For Supplier Managed Freight: Seller agrees that all Items shall be shipped Free Carrier, Seller’s Dock (FCA:
Seller’s Dock, Inco terms 2000). Buyer shall notify Seller of the method of shipment. If no instructions are given, Seller shall select the most cost effective carrier based upon Buyer’s required delivery date. 

	    	 (ii) For Buyer Managed Freight: All items shall be shipped Free Carrier, Supplier’s designated factory dock or
distribution center dock (FCA: Supplier’s designated factory dock or distribution center dock, Inco terms 2000). Risk of loss shall pass to Buyer upon delivery of items to Buyer’s agent at the shipping point. 

	C.	 Hazardous Materials Freight: Notwithstanding anything contained in Section 10.B. to the contrary, and regardless of
the freight terms listed on any Purchase Order, all Items that are Hazardous Materials/Dangerous Goods and are regulated in transportation by international, federal, state or local law shall be shipped Delivered Duty Paid, Buyer’s Dock (DDP:
Buyer’s Point of Use; Inco terms 2000) for non free trade zone factory sites or Delivered Duty Unpaid, Buyer’s Dock (DDU: Buyer’s point of use, Inco terms 2000) for free trade zone factory sales. Title and risk of loss shall pass to
Buyer upon delivery of Items to Buyer’s point of use at the Buyer factory site designated in the Release. 

  

	11.	 OWNERSHIP AND BAILMENT RESPONSIBILITIES 

	    	 Any specifications, drawings, schematics, technical information, data, tools, dies, patterns, masks, gauges, test
equipment, and other materials furnished or paid for by Buyer shall: (i) be kept confidential; (ii) remain or become Buyer’s property; (iii) be used by Supplier exclusively for Buyer’s orders; (iv) be clearly marked as
Buyer’s property and segregated when not in use; (v) be kept in good working condition at Supplier’s expense; and (vi) be shipped to Buyer promptly on demand. 

 

	12.	 CONFIDENTIALITY AND PUBLICITY 

	A.	 During the course of this Agreement, either party may have or may be provided access to the other’s confidential
information and materials. Provided such information or materials are marked in a manner reasonably intended to make the recipient aware, or the recipient is sent written notice within forty-eight (48) hours of disclosure, that the information
or materials are “Confidential”, each party agrees to maintain such information in accordance with the terms of this Agreement and the CNDA referenced on the signature page of this Agreement or any applicable separate nondisclosure
agreement between Buyer and Supplier. In the absence of a CNDA or other written agreement, at a minimum each party agrees to maintain such information in confidence and

	 	 
limit disclosure on a need to know basis, to take all reasonable precautions to prevent unauthorized disclosure, and to treat such information as it treats its own information of a similar
nature, until the information becomes rightfully available to the public through no fault of the non disclosing party. Supplier’s employees who access Buyer’s facilities may be required to sign a separate non-disclosure agreement prior to
admittance to Buyer’s facilities (referred to in Addendum D as “Unescorted Access Application forms”). Supplier shall not use any of the confidential information created for Buyer other than for Buyer. 

	B.	 The parties agree that neither will disclose the existence of this Agreement or relationship (other than under NDA after
delivery of working samples of Items), nor any of the details of this Agreement at any time, to any third party without the specific, written consent of the other, which may not be unreasonably delayed or withheld. If disclosure of this Agreement or
any of the terms hereof is required by applicable law, rule, or regulation, or is compelled by a court or governmental agency, authority, or body, such as annual reports or S1 Filings: (i) the parties shall use all legitimate and legal means
available to minimize the disclosure to third parties of the content of the Agreement, including without limitation seeking a confidential treatment request or protective order; (ii) the party compelled to make disclosure shall (if reasonably
possible) inform the other party at least ten (10) business days (i.e., not a Saturday, Sunday or a day on that banks are not open for business in the geographic area in that the non-disclosing party’s principal office is located) in
advance of the disclosure, and (iii) the party compelled to make disclosure shall give the other party a reasonable opportunity to review and comment upon the disclosure, and any request for confidential treatment or a protective order
pertaining thereto, prior to making such disclosure. However, the parties may disclose this Agreement in confidence to their respective legal counsel, accountants, bankers and financing sources as necessary in connection with obtaining services from
such third parties; and to investors or potential investors who are under an obligation of confidentiality at least as restrictive as that contained in the CNDA. Neither party may use the other party’s name or trademarks in any type of
advertisement materials, web sites, press releases, interviews, articles, brochures, business cards, project reference or client listings without the other’s written consent, which may not be unreasonably delayed or withheld. For Intel, a
request for such consent should be addressed to the Director of Corporate Purchasing and/or the Vice President of Materials, and for Supplier, a request for such consent should be addressed to the General Counsel, 

	C.	 The obligations stated in this Section 12 shall survive the expiration or termination of this Agreement

  

	13.	 INTELLECTUAL PROPERTY INDEMNIFICATION 

	(1)	 Defense by Aquantia.    Aquantia shall, at its own expense, defend or settle any suit or
proceeding (“Claim”) that is instituted against Buyer to the extent that such claim alleges that any Item sold by Aquantia hereunder infringes any duly issued patent or copyright or misappropriates any trade secret and shall pay all
damages awarded therein against Buyer or agreed upon in settlement by Aquantia. Buyer shall (a) give Aquantia reasonable notice in writing of any such Claim or threat thereof, (b) permit Aquantia sole control, through counsel of
Aquantia’ choice, to defend and/or settle such Claim. Subject to Supplier’s right to control the defense and any settlement, Buyer may in addition have separate legal counsel participate in the defense on Buyer’s behalf at
Buyer’s own expense. Finally, Supplier shall review with Buyer all proposed settlements and Buyer shall have the right to reject any proposed final settlements, such right of rejection being exercised only where the settlement would require
Buyer to grant any rights or licenses under Buyer’s intellectual property rights or would cause other non-monetary impact to Intel. 

	(2)	 When Not Applicable.    The above provision shall not apply to and Aquantia shall have no
liability or obligation for any 

 

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

	 	 
infringement to the extent attributed to: (a) any modification, servicing or addition made to the Item by anyone other than Aquantia or by a third party without Aquantia’s permission
but only to the extent such infringement was caused by such modification, servicing or addition, (b) the use of the Item as a part of or in combination with any devices, parts or software not provided by Aquantia but only to the extent such
infringement would not have occurred but for such modification, (c) the use of such Item to practice any method or process which does not occur within the Item, but only to the extent such infringement would not have occurred but for such use
(d) compliance with Buyer’s detailed specifications to the extent that Aquantia does not have any discretion in the implementation of such specifications, but only to the extent such infringement would not have occurred but for such
compliance, (e) incorporation into the Item or use in the manufacturing process of any technology provided by Buyer, to the extent such technology is required by Buyer to be so incorporated or used but only to the extent such infringement would
not have occurred but for such incorporation or use. 

	(3)	 Aquantia Options. If the use or sale of any Item purchased from Aquantia is enjoined, Aquantia shall, at
Buyer’s option and at Aquantia’s expense: (a) procure for Buyer the right to use, sell, offer to sell or import such Item, (b) substitute a functionally equivalent, non-infringing unit of the Item; or (c) modify such Item so
that it no longer infringes but is substantially equivalent in functionality; or refund to Buyer the amount paid for any Items returned to Supplier or destroyed. Aquantia shall in no event be obligated to accept new orders for Items that are or may
be subject to a claim of infringement covered under this Article. 

 (4)     Buyer shall defend, indemnify, and
hold Supplier harmless from any costs or expenses arising from a claim of infringement by a third party, where Buyer furnishes and requires Supplier to use detailed specifications for the process of manufacturing the Item(s), or provides any
intellectual property or technology which Supplier (or any third party acting on behalf of Supplier) incorporates into the Item or uses in the manufacturing process, and such infringement claim would not have occurred but for complying with such
detailed specifications or incorporating or using such Buyer intellectual property or technology. Notwithstanding the foregoing, Buyer shall have no liability to Supplier hereunder, if Supplier knows, or through the exercise of reasonable due
diligence should have known, that the required manufacturing specification(s) infringe or potentially infringe a third party’s intellectual property rights. Buyer shall also defend, indemnify, and hold Supplier harmless from any costs or
expenses arising from a claim of infringement by a third party resulting from (a) any modification, servicing or addition made to the Item by anyone other than Aquantia, (b) the use of the Item as a part of or in combination with any
devices, parts or software not provided by Aquantia, or (c) the use of such Item to practice any method or process which does not occur wholly within the Item. 

(5)     The foregoing and the warranties stated in Paragraph 8(B) state the entire set of obligations and remedies flowing between
Buyer and Supplier arising from any claim brought by a third party regarding infringement or misappropriation of intellectual property rights, including but not limited to patent, copyright, trademark and trade secret rights, and is in lieu of and
replaces any and all other express implied or statutory warranties, terms, or conditions regarding infringement and misappropriation 
  

	14.	 RECORDS AND AUDIT 

Supplier shall maintain complete and accurate records for the Items provided under this Agreement for a period of three (3) years after delivery of
such Items. Buyer reserves the right to have Supplier’s records inspected and audited no more than once per calendar year to ensure compliance with the financial terms of this Agreement. At Buyer’s option or upon Supplier’s written
demand, such audit will be performed by an independent third party at Buyer’s expense. Any third-party auditor must execute a nondisclosure agreement reasonably acceptable to Supplier with regard to all materials inspected by the auditor.
However, if

 
Supplier is found not to be complying with the financial terms of this Agreement in any material way (more than 3% of the audited value during the audited period) Supplier shall reimburse Buyer
for all reasonable costs associated with the audit, along with any discrepancies discovered, within thirty (30) days after completion of the audit. The results of such audit shall be kept confidential by the auditor and, if conducted by a third
party, only Supplier’s failures to abide by the obligations of this Agreement shall be reported to Buyer, and the auditor will report the full details of the audit to Supplier. 

 

	15.	HAZARDOUS MATERIALS 

 A.         If Items or any services
provided hereunder include Hazardous Materials, Supplier represents and warrants that Supplier and its personnel providing services to Buyer understand the nature of and hazards associated with the design and/or service of Items including handling,
transportation, and use of such Hazardous Materials, as applicable to Supplier. Prior to causing Hazardous Materials to be on Buyer’s properly, Supplier shall obtain written approval from Buyer’s Site Environmental/Health/Safety
organization. Supplier will be responsible for and indemnify Buyer from any liability to any third party (including governmental agencies) resulting from the actions of Supplier or its contractors in connection with: (i) providing such
Hazardous Materials to Buyer; and/or (ii) the use of such Hazardous Materials in providing services to Buyer. 
 B.
        Supplier will timely provide Buyer with material safety data sheets and any other documentation reasonably necessary to enable Buyer to comply with applicable laws and regulations regarding Hazardous
Materials. 

	C.	 Supplier hereby certifies that Items supplied to Buyer comply with all applicable requirements of Buyer’s
Environmental Product Content Specification for Suppliers and Outsourced Manufacturers (Spec number BS-MTN-0001, available at http://supplier.intel.com/ehs/environmental.htm). 

 

	16.	 CUSTOMS CLEARANCE 

	    	 Upon Buyer’s request, Supplier will promptly provide Buyer with a statement of origin for all Items and with
applicable customs documentation for Items wholly or partially manufactured outside of the country of import. Buyer shall also be the importer of record and is responsible for fulfilling quota terms, obtaining import licenses, paying import license
or permit fees, duties and customs fees, and any other governmental or import taxes or fees, and preparing and submitting all required documentation in connection with importing the Items. 

 

	17.	 COMPLIANCE WITH LAWS AND INTEL CODES OF CONDUCT 

	    	 A.         Supplier shall comply with all national, state, and local laws and
regulations governing the manufacture, transportation, import, export, and/or sale of Items and/or the performance of services in the course of performing its obligations under this Agreement. In the United States, these may include, but are not
limited to, Department of Commerce, including U.S. Export Administration regulations, Securities Exchange Commission, Environmental Protection Agency, and Department of Transportation regulations applicable to Hazardous Materials. Neither Supplier
nor any of its Subsidiaries will export/re-export any technical data, process, or product, or service provided by Buyer, directly or indirectly (including the release of controlled technology to foreign nationals from controlled countries), to any
country for which the United States government or any agency thereof requires an export license or other government approval without first obtaining such license. Neither party shall export, either directly or indirectly, any Product, service or
technical data or system incorporating such Items without first obtaining any required license or other approval from the U.S. Department of Commerce or any other agency or department of the United States Government. In the event any Product is
exported from the United States or re-exported from a foreign destination by either Party, that Party shall ensure that the distribution and export/re-export or import of the Product is in compliance with all laws, regulations, orders, or other
restrictions of the U.S. 

 

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

	 	 
Export Administration Regulations and the appropriate foreign government. Both parties agree that neither it nor any of its subsidiaries will export/re-export any technical data, process,
Product, or service directly or indirectly, to any country for which the United States government or any agency thereof or the foreign government from where it is shipping requires an export license, or other governmental approval, without first
obtaining such license or approval. 

	    	 A current list of “Controlled Countries” can be found at http://www.bxa.doc.gov. 

	B.	 Supplier represents and agrees that it is in compliance with Executive Order 11246 and implementing Equal Employment
Opportunity regulations, the Vietnam Era Veterans’ Readjustment Assistance Act as amended by the Veterans Employment Opportunities Act of 1998 (to include: Vietnam-era Veterans and other Veterans who served on active duty during a war or
campaign or expedition for which a campaign badge has been authorized), and the Immigration Act of 1987, unless exempted or inapplicable. 

	C.	 Supplier shall comply with all applicable laws regarding non-discrimination in terms and conditions of employment,
payment of minimum wage and legally mandated employee benefits and compliance with mandated work hours. Supplier shall comply with all applicable laws regarding employment of underage or child labor and shall not employ children under the age of 16.
Buyer agrees not to include any discriminatory statements or requirements in contracts or other documents related to the sale or use of the Items or products that include the Items. 

	D.	 Supplier agrees to fully comply with Buyer’s Code of Conduct and Electronic Industries Supply Chain Code of Conduct
(EICC) as set forth at supplier.intel.com. 

  

	18.	 MERGER, MODIFICATION, WAIVER, REMEDIES, AND SEVERABILITY 

	A.	 This Agreement contains the entire understanding between Buyer and Supplier with respect to the subject matter hereof and
merges and supersedes all prior and contemporaneous agreements, dealings and negotiations, oral or written. No modification, alteration, or amendment shall be effective unless made in writing, dated and signed by duly authorized representatives of
both parties. 

	B.	 Failure of either party to enforce compliance with any provision of this Agreement shall not constitute a waiver of such
provision unless accompanied by a clear written statement that such provision is waived. No waiver of any breach hereof shall be held to be a waiver of any other or subsequent breach. 

	C.	 Each party’s rights and remedies herein are in addition to any other rights and remedies provided by law or in
equity. 

	D.	 If any provision of this Agreement is determined by a court of competent jurisdiction to be invalid, illegal, or
unenforceable, a modeled provision shall be substituted which carries out as nearly as possible the original intent of the parties, and such determination shall not affect the validity of the remaining provisions unless either party determines in
its reasonable discretion that the court’s determination causes this Agreement to fail in any of its essential purposes. 

  

	19.	 ASSIGNMENT 

	    	 Buyer may assign or delegate its rights and/or obligations or any part thereof under this Agreement to any or all of its
wholly-owned subsidiaries. Otherwise, neither party may assign or delegate its rights and obligations under this Agreement without the prior written consent of the other. Buyer may cancel this Agreement for cause should Supplier attempt to make an
unauthorized assignment of any right or obligation arising hereunder. For purposes of this Section 19, the acquisition, merger, consolidation, or change in control of Supplier or any assignment by operation of law shall be deemed an assignment
that requires Buyer’s written consent.

	20.	 APPLICABLE LAW 

	    	 This Agreement is to be construed and interpreted according to the laws of the State of Delaware, excluding its conflict
of laws provisions. The provisions of the United Nations Convention on Contracts for the International Sale of Goods shall not apply to this Agreement. 

  

	21.	 HEADINGS 

	    	 The headings provided in this Agreement are for convenience only and shall not be used in interpreting or construing this
Agreement. 

  

	22.	 SPECIFIC PERFORMANCE 

	    	 Notwithstanding anything else contained in this Agreement, the parties hereto agree that failure to perform certain
obligations undertaken in connection with this Agreement would cause irreparable damage, and that monetary damages would not provide an adequate remedy in such event. The parties further agree that failure to comply with obligations regarding
confidential information are such obligations. Accordingly, it is agreed that, in addition to any other remedy to which the non breaching party may be entitled, at law or in equity, the non breaching party shall be entitled to seek injunctive relief
to prevent breaches of the provisions of this Agreement, and to seek an order of specific performance to compel performance of such obligations in any action instituted in any court of the United States or any state thereof having subject matter
jurisdiction. 

  

	23.	 NOTICES 

	    	 Notices shall be given in writing by personal delivery, recognized overnight courier, or facsimile provided that a
confirmation of receipt is obtained. All notices shall be deemed to have been given and received on the earlier of actual delivery (except that faxes sent on a non-business day will be deemed received on the next business day) or three (3) days
from the date of deposit with overnight courier, to the address set forth below or to such other address as a Party has notified the other Party in writing. Unless Buyer notifies Supplier of a change, all notices to Buyer regarding this Agreement
shall be sent to Buyer’s Materials General Counsel and to the Buyer’s Materials Representative, all at the address on the signature page of this Agreement. If to Aquantia: 

 

	    	 Aquantia Corporation 

	    	 Attention. Legal Department 

	    	 700 Tasman Drive 

	    	 Milpitas, CA 95035 

	    	 USA 

	    	 Telephone 408.228.8300 

  

	24.	 PRIVACY 

	A.	 This provision applies to both online and offline Personal Information. However, the exchange of employee information in
the normal course of business shall not be considered Personal Information, and the parties do not anticipate the sharing of personal information under this Agreement. 

	B.	 ‘‘Personal Information” is defined as any information that can be used to identify, contact or locate a
person outside of that person’s business affiliation as it pertains to this Agreement. This includes any information which is linked to Personal Information, or from which other Personal Information can easily be derived. 

	C.	 If Buyer transmits any Personal information to Supplier, Supplier warrants that Supplier shall not transfer such Personal
Information to any third party or use it for any purpose other than as described in this Agreement. 

	D.	 If Supplier obtains Personal Information in the course of performance of services for Buyer, Supplier warrants that
Supplier shall not transfer such Personal Information to any third party or use it for any purpose other than as described in this Agreement. 

	E.	 Supplier shall permanently delete all Personal Information within thirty (30) days after the Personal Information is
no longer being actively used in fulfilling Supplier’s obligations to Buyer under this Agreement, unless otherwise required by local law or regulation.

 

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 

	F.	 If Supplier contracts with its Affiliates, subcontractors or other third parties for performance of all or part of this
Agreement, Supplier must require such third parties to agree in writing with the same, or substantially similar, Privacy and Data Security provisions as those contained in this Agreement. 

	G.	 Supplier shall take all measures necessary to ensure the security of Supplier’s data, as described in the Data
Security provision (Section 25) of this Agreement. Further, Supplier shall comply with the current online Privacy Alliance’s privacy guidelines (available at http://www.privacyalliance.org/ ). 

 

	25.	 DATA SECURITY REQUIREMENTS 

	A.	 Logical Controls: All systems containing Intel Confidential information will have strong access control mechanisms in
place. Each system user must have a unique identifier and password combination. There must be control methods for securely granting and revoking access to these systems. 

	B.	 Physical Controls: Server and mass storage systems storing Intel Classified information must be housed in a physically
secure location with access controls to the granularity of the user (e.g. card access controlled room) and with 24x7 intrusion detection systems in place (e.g. a monitored perimeter alarm system). Access control audit trails must be maintained
sufficient to support an investigation. 

	C.	 Intrusion Detection/Response: For systems and networks containing Intel Classified material, mechanisms and controls must
be in place to detect security breaches and to properly respond to a breach. 

	D.	 Data Destruction: Electronic portable media (e.g. CD’s, hard drives, floppy disks, ZIP drives) which contained Intel
Classified information must be disposed of in a secure manner (e.g. disk wipe to DOD 5220.22M standard, degauss or physical destruction). Hard copies of Intel Classified information must be disposed of by cross cut shredding or other secure
destruction methods 

  

	26.	 ELECTRONIC TRANSACTIONS 

	A.	 Subject to the terms and conditions of this section, by on or about June 30, 2009 the parties expect to accept
electronic records and electronic signatures as such terms are defined in the U.S. Electronic Signatures in Global and National Commerce Act) relating to transactions contemplated by this Agreement. 

	B.	 In connection with system-to-system implementations if electronic transactions are enabled: 

	 	(i)	 The parties will implement the particular transaction sets and/or message specifications mutually agreed upon by the
parties. Each party’s implementation will comply with applicable standards (e.g., applicable ANSI standards or Rosetta Net Pips), except as otherwise mutually agreed. 

	 	(ii)	 Where applicable standards require that the receiving party issue a notice to the other confirming message receipt, such
notice will not constitute a binding acceptance or acknowledgement of anything more than mere receipt. In the event that any element of an applicable standard conflicts with a provision of this Agreement, the provision of this Agreement will
control. 

	 	(iii)	 If a party has adopted an electronic identifier (e.g. a digital signature), the other party is entitled to rely on the
authenticity of messages signed by or otherwise associated with such electronic identifier unless and until notified otherwise by the adopter. 

	C.	 Either party may use a third party service provider in connection with e-business activities (e.g., to route or translate
EDI or XML messages, or to host web based services). The party contracting with a service provider must require that such service provider (a) use information disclosed to or learned by such service provider in connection with providing
services solely for the purpose of providing the applicable services, and (b) not disclose such information to any third party. Either party may begin to use or may change a service provider upon reasonable prior written notice to the other
party. Each party will be liable for the acts or omissions of its service provider in connection with activities contemplated by this Agreement.

	27.	 DISPUTE RESOLUTION 

	    	 All disputes arising directly under the express terms of this Agreement or the grounds for termination thereof shall be
resolved as follows: The senior management of both parties shall meet to attempt to resolve such disputes. If the disputes cannot be resolved by the senior management, either party may make a written demand for formal dispute resolution and specify
therein the scope of the dispute. Within thirty (30) days after such written notification, the parties agree to meet for one (1) day with an impartial mediator and consider dispute resolution alternatives other than litigation, including
referral to the National Patent Board or JAMS for arbitration. If an alternative method of dispute resolution is not agreed upon within thirty (30) days after the one day mediation, either party may begin litigation proceedings.

  

	28.	 SURVIVAL 

	    	 The provisions of Sections 1, 3, 5, 6, 8, 11, 12, 13, 14, 15, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, and paragraph 4C
shall survive the termination or expiration of this Agreement. In addition, any right or legal obligation of a party contained in any Addendum or Amendment, that by its express term or nature would reasonably extend for a period beyond the term of
the Agreement, shall also survive the termination of the Agreement for such extended period. 

  

	29.	 NEW DEVELOPMENTS [Added by Addendum C] 

 

	30.	 TRANSFER EVENT [Added by Addendum C] 

 

	31.	 [Intentionally omitted] 

 

	32.	 INTERPRETATION [Added by Addendum C] 

 

	33.	 SUPPLY LINE PROTECTION (SLP) [Added by Addendum C] 

 

	34.	 [Intentionally omitted] 

 

	35.	 CAPACITY UPSIDE [Added by Addendum C]

 

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 AMENDMENT NO. 1 TO 

MASTER PURCHASE AGREEMENT FOR 10 GIGABIT ETHERNET
PHYSICAL LAYER DEVICES 
 AND 

PROJECT STATEMENT #1 – [*] PRODUCT 

This Amendment No. 1 (the “Amendment”) is entered into as of September 22, 2009 (“Effective Date”), by
and between Intel Corporation (“Intel”) and Aquantia Corporation (“Aquantia”) for the purpose of amending the Master Purchase Agreement for 10 Gigabit Ethernet Physical Layer Devices between Intel and Aquantia effective
January 15, 2009 (“Master Agreement”) and its Project Statement #1 – [*] Product dated as of January 15, 2009 (the “Project Statement”) (the Master Agreement and the Project Statement are referred to collectively
as the “Agreement”). 
 Whereas, the Project Statement provides for the development of the [*] Product which incorporates
Intel’s 10GbE duel MAC with Aquantia’s 10GbE dual PHY, and also provides for a limited license to Aquantia to make, use and sell such product (referred to as the “Aquantia Product”) [*] as provided in the Project Statement and in
the Master Agreement; 
 Whereas, Aquantia wishes to appoint another entity as a second source for Aquantia products, and
accordingly, Aquantia wishes to have certain rights under the Agreement extended to such entity acting as Aquantia’s second source and/or clarified, and Intel agrees to such extensions and clarifications pursuant to the terms of this Amendment:

 Now, therefore, in consideration of the mutual covenants and premises contained herein, the receipt and sufficiency of which are
hereby acknowledged, the parties agree as follows: 
 1.            Effect of Amendment.
Except as amended by this Amendment, all terms and conditions of the Agreement shall remain in full force and effect. In the event of a conflict between this Amendment and the Agreement, this Amendment shall control. Capitalized terms not defined
herein have the meanings specified in the Agreement. 
 2.            Amendments.

 (a)           In the Project Statement, the definition of “Aquantia Product”
is hereby amended to read as follows: 
 8.1.2 “Aquantia Product” means [*]. Unless otherwise expressly set forth in this
Project Statement, references to “[*] Product” in this Project Statement shall not be construed as including a reference to the Aquantia Product. 

(c)           A new definition is hereby added to Section 8.1 of the Project Statement
as follows: 
 8.1.11 “Second Source” means a third party, approved by Intel, with whom Aquantia enters into an agreement
under which such third party will act as a second source for Aquantia’s customers with respect to the Aquantia Products, which products may be marketed and sold under the branding and marks of such third party. 

(d)           Section 8.3.3 of the Project Statement is revised to add “(except as
provided below)” after “non-sublicensable”. 
 (e)          
Section 8.3.3.4 is revised to read as follows: 
 8.3.3.4 to make and have made, use, import, offer for sale and sell the Aquantia
Products, and, upon consent of Intel to sublicense the foregoing rights to the Second Source. 

(f)           Section 8.4 of the Project Statement is amended to read as follows: 

8.4 Have Made Rights. For purposes of exercising its have made rights granted under Section 8.3.3.2 and 8.3.3.4 of this Project Statement
(Licensing), Aquantia (and, for the purpose of exercising its sublicense rights under Section 8.3.3.4, its Second Source) may deliver Intel Technology delivered to Aquantia by Intel only to those subcontractors approved in advance in

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 
writing by Intel subject to the confidentiality obligations set forth in Section 3.(a) of this Amendment. 

3.            Consent for Second Source. Intel hereby approves [*] as a Second Source under
the following terms and conditions: 
 (a)           Disclosure of Intel Confidential
Information. Intel hereby consents to the disclosure of the Intel Confidential Information set forth in Addendum A attached hereto and by this reference made a part hereof. Such disclosure shall be made under an agreement of confidentiality at least
as comprehensive as the agreement applicable to each such item of Intel Confidential Information (e.g., the CNDA or any other applicable confidentiality agreement). Aquantia shall be liable to Intel for any breach of such agreement of
confidentiality by the Second Source and any such agreement shall name Intel as a third party beneficiary. 

(b)           Consent to Sublicense: Intel hereby consents to the sublicense under
Section 8.3.3.4 to [*] under the following terms and conditions: 

(i)            Aquantia to disable [*] for the Aquantia Product [*]. 

(ii)            Mask Works made from [*] are defined as [*] will be identified by
a [*]. 
 (iii)            Except as described in section 3 (d) below, [*] will
not order, nor have access to, [*] for the Aquantia Product and [*] will purchase wafers from [*] based on [*]. 

(iv)          For Second Source Aquantia Product, [*] to manage subcon Assembly/Test
suppliers. 
 (v)          The sublicense is limited solely to [*] providing second
source services to Aquantia customers and markets as defined in and under the terms and conditions of the second source agreement between Aquantia and [*] (“Second Source Agreement”). 

(vi)            The sublicense shall terminate immediately upon termination of
the Second Source Agreement for any reason, provided that, after termination of the Second Source Agreement, the sublicense to [*] shall continue solely to the extent necessary to allow [*] to provide a last time buy if required under the Second
Source Agreement (“Continuing Rights”). 
 (c)           Delivery of Intel
Technology. Subject to Section 3(a) above, Aquantia may deliver the Intel Technology set forth in Exhibit A to [*] solely for the use by [*] in the performance of the Second Source Agreement. [*] shall return all Intel Technology to Aquantia
upon the termination of the Second Source Agreement and expiration of Continuing Rights. 

(d)           Use of [*]. In the event 1) [*] is unable to fulfill its obligations to supply
Aquantia Product under the Second Source Agreement due to [*] which is uncured after [*] notice; and 2) Aquantia is unable or unwilling (other than due to breach of agreement by [*] or [*]) to make the [*] or a suitable replacement available to [*]
for the purpose of enabling [*] to supply [*] under the Second Source Agreement, [*] may, at its sole expense procure a replacement set of [*]. [*] shall transfer ownership of the [*] to Intel [*]. Upon ownership transference of the replacement [*]
to Intel, Intel shall license [*] to use the [*] to build wafers and sell Aquantia Product to [*] solely to the extent necessary for [*] go fulfill its obligations to [*] under the Second Source Agreement [*]. Intel will not [*]. Intel shall
maintain the [*] as Aquantia Confidential Information under the CNDA between the parties. 

4.            Miscellaneous. The parties mutually acknowledge and agree that this Amendment
shall he governed by and construed in accordance with the internal laws of the State of Delaware without regard to conflicts of law provisions thereof. This Amendment represents the entire agreement of the parties with respect to the subject matter
hereof and supersedes all prior or contemporaneous agreements, understandings, proposals and representations by the parties and no waiver, modification or amendment shall be valid unless it is set forth in writing and signed by both parties. This
Amendment may be executed in any number of counterparts and when so executed and delivered shall have the same force and effect as though all signatures appeared on one document. 

IN WITNESS WHEREOF, each party has caused this Amendment to be duly executed as of the Effective Date. 

 

									
	INTEL CORPORATION	 		 	AQUANTIA CORPORATION
					
	By:	 	/s/Tom Swinford	 		 	By:	 	/s/ Faraj Aalaei

									
					
	Name:	 	Tom Swinford	 		 	Name:	 	Faraj Aalaei

									
					
	Title:	 	VP and GM, LAN Access Division	 		 	Title:	 	CEO

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 Addendum A 

Intel Confidential Information and Intel Technology to be Disclosed to [*]. 

1 - Existence of a business relationship between Aquantia and Intel as it relates to [*]. 

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 AMENDMENT NO. 2 TO 

MASTER PURCHASE AGREEMENT FOR 10 GIGABIT ETHERNET
PHYSICAL LAYER DEVICES 
 AND 

PROJECT STATEMENT #1 – [*] PRODUCT 

This Amendment No. 2 (the “Amendment”) is entered into as of Dec 15, 2011 (“Effective Date”), by and
between Intel Corporation (“Intel” ) and Aquantia Corporation (“Aquantia”) for the purpose of amending the Master Purchase Agreement for 10 Gigabit Ethernet Physical Layer Devices between Intel and Aquantia effective
January 15, 2009 (“Master Agreement”) and its Project Statement #1 – [*] Product dated as of January 15, 2009 (the “Project Statement”) (the Master Agreement and the Project Statement are referred to collectively
as the “Agreement”). 
 Whereas, the Project Statement provides for the development of the [*] Product which incorporates
Intel’s 10GbE duel MAC with Aquantia’s 10GbE dual PHY, and also provides for a limited license to Aquantia to make, use and sell such product (referred to as the “Aquantia Product”) [*] as provided in the Project Statement and in
the Master Agreement; 
 Whereas, Aquantia wishes to appoint another entity as a second source for Aquantia products, and
accordingly, Aquantia wishes to have certain rights under the Agreement extended to such entity acting as Aquantia’s second source and/or clarified, and Intel agrees to such extensions and clarifications pursuant to the terms of this Amendment;

 Now, therefore, in consideration of the mutual covenants and premises contained herein, the receipt and sufficiency of
which are hereby acknowledged, the parties agree as follows: 
 1. Effect of Amendment. Except as amended by this Amendment, all
terms and conditions of the Agreement shall remain in full force and effect. In the event of a conflict between this Amendment and the Agreement, this Amendment shall control. Capitalized terms not defined herein have the meanings specified in the
Agreement. 
 2. Consent for Second Source. Intel hereby approves [*] as a Second Source under the following terms and conditions:

 (a)        Disclosure of Intel Confidential Information. Intel hereby consents to the disclosure
of the Intel Confidential Information set forth in Addendum A attached hereto and by this reference made a part hereof. Such disclosure shall be made under an agreement of confidentiality at least as comprehensive as the agreement applicable to each
such item of Intel Confidential Information (e.g., the CNDA or any other applicable confidentiality agreement). Aquantia shall be liable to Intel for any breach of such agreement of confidentiality by the Second Source and any such agreement shall
name Intel as a third party beneficiary. 
 (b)        Consent to Sublicense: Intel hereby consents
to the sublicense under Section 8.3.3.4 to [*] – under the following terms and conditions: 

(i)         Aquantia to disable [*] for the Aquantia Product [*]. 

(ii)        Mask Works made from [*] are defined as [*] will be identified by a [*]. 

(iii)        Except as described in section 3 (d) below, [*] will not order, nor have access to, [*]
for the Aquantia Product, and [*] will purchase wafers from [*] based on [*]. 
 (iv)         For
Second Source Aquantia Product, [*] to manage subcon Assembly/Test suppliers. 
 (v)         The
sublicense is limited solely to [*] providing second source services to Aquantia customers and markets as defined in and under the terms and conditions of the second source agreement between Aquantia and [*] (“Second Source Agreement”)

 (vi)         The sublicense shall terminate immediately upon termination of the Second Source
Agreement for any reason, provided that, after termination of the Second Source Agreement, the sublicense to [*] shall continue solely to the extent necessary to allow [*] to provide a last time buy if required under the Second Source Agreement
(“Continuing Rights”). 
 (c)        Delivery of Intel Technology. Subject to
Section 3(a) above, Aquantia may deliver the Intel Technology set forth in Exhibit A to [*] solely for the use by [*] in the performance of the Second Source Agreement. 

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 
[*] shall return all Intel Technology to Aquantia upon the termination of the Second Source Agreement and expiration of Continuing Rights. 

(d)        Use of [*]. In the event 1) [*] is unable to fulfill its obligations to supply Aquantia
Product under the Second Source Agreement due to the [*] which is uncured after [*] notice; and 2) Aquantia is unable or unwilling (other than due to breach of agreement by [*] or [*]) to make the [*] or a suitable replacement available to [*] for
the purpose of enabling [*] to enable [*] to supply [*] under the Second Source Agreement, [*] may, at its sole expense procure a replacement set of [*]. [*] shall transfer ownership of the [*] to Intel [*]. Upon ownership transference of the
replacement [*] to Intel, Intel shall license [*] to use the [*] to build wafers and sell Aquantia Product to [*] solely to the extent necessary for [*] go fulfill its obligations to [*] under the Second Source Agreement [*]. Intel will not [*].
Intel shall maintain the [*] as Aquantia Confidential Information under the CNDA between the parties. 
 3.
          Miscellaneous. The parties mutually acknowledge and agree that this Amendment shall be governed by and construed in accordance with the internal laws of the State of Delaware without
regard to conflicts of law provisions thereof. This Amendment represents the entire agreement of the parties with respect to the subject matter hereof and supersedes all prior or contemporaneous agreements, understandings, proposals and
representations by the parties and no waiver, modification or amendment shall be valid unless it is set forth in writing and signed by both parties. This Amendment may be executed in any number of counterparts and when so executed and delivered
shall have the same force and effect as though all signatures appeared on one document. 
 IN WITNESS WHEREOF, each party has caused
this Amendment to be duly executed as of the Effective Date. 

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

									
	INTEL CORPORATION	 		 	AQUANTIA CORPORATION
					
	By:	 	/s/ Tom Swinford	 		 	By:	 	/s/ Faraj Aalaei

									
					
	Name:	 	Tom Swinford	 		 	Name:	 	Faraj Aalaei

									
					
	Title:	 	VP, IAG & GM, CNG	 		 	Title:	 	CEO

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 ADDENDUM A 

PROJECT STATEMENT #1 — [*] PRODUCT 
  

 
  

	1.	INCORPORATION INTO AGREEMENT 

 Intel and Aquantia (the “Parties”) agree that this
Project Statement #1 (“Project Statement”) shall be attached to and incorporated in the “Agreement” as Attachment Number #1. For purposes of this Project Statement #1, the “Agreement” means the Master Purchase Agreement
between Intel Corporation and Aquantia Corporation dated December 15, as amended to-date. The purpose of this Project Statement #1 is to set forth the terms and conditions under which Aquantia will develop and deliver a 10GbE dual MAC/PHY
device (“[*] Product”). The Parties agree that the date of this Project Statement #1 shall be January 15, 2009. 
 Any changes to the
specifications of [*] Product that are set forth in this Project Statement #1 must be agreed to by the Parties in writing. 
  

	2.	DEFINITIONS AND PRODUCT DESCRIPTION 

 Aquantia will combine Intel’s 10GbE dual MAC with
Aquantia’s 10GbE dual PHY to create the [*] Product on [*] 40nm process. Intel’s dual MAC will be delivered as [*] with Aquantia performing [*] in order to deliver [*] devices to Intel. [*] Product is a custom item. 

 

	3.	PRICING 

 3.1.          In Sample
and/or Prototype Units. Upon availability and prior to [*] (or other dates subsequently agreed to by the Parties) Intel may purchase sample or prototype units of [*] Product from Aquantia as follows: 

All sample and/or prototype units, regardless of spin (e.g., A0, A1, A2): Aquantia will provide the first 200 samples to Intel at no cost. Intel may
purchase additional samples at Aquantia’s “Standard Cost”. “Standard Cost” is defined as [*]. 

3.2.          [*] Units 

3.2.1.    Purchase Price 

 

	 	    	 3.2.1.1. Intel may purchase [*] at the pricing specified below following its delivery to Aquantia of Intel’s
written confirmation that [*] Product has received [*]. Following such notice Intel shall pay Aquantia [*] units delivered to it in keeping with the purchase order terms specified in Sections 3 and 4 of the Master Purchase Agreement. The [*]
relevant to any given purchase order shall be the applicable [*] stated in the table below [*] plus [*], calculated as follows: 

  

	 	    	 [*]. 

  

	 	    	 3.2.1.2. For the purpose of this Section 3.2, the [*] is defined as [*]. The [*] will be [*] by Intel [*].

 3.2.2.    [*] 

 

	 	    	 3.2.2.1. Given that the [*] used in the formula stated in 3.2.1.1 has [*] for [*]: 

 

	 	    	 a)          For each [*]. 

 

	 	    	 b)          [*] determined in Section 3.2.2.1a) above [*].

  

	 	    	 c)          [*] under Section 3.2.1. The difference shall be [*].

 
  

	 	    	 d)          In conjunction with the [*], Intel shall provide Aquantia
with [*]. For clarification, this does not require the [*]. This report shall be treated as Intel Confidential Information under Section 12 of the Agreement. 

 

	    	 3.2.3.    For the purpose of this Section 3.2 units sold to Intel customers shall include
units sold directly by Intel or its distributors to its customers as well as units incorporated by or on behalf of Intel into one or more Intel product(s), such as [*] and sold to an Intel customer. In the latter case, the [*] shall be deemed to be
the [*]. For example [*]. 

  

	    	The [*] is listed in the [*] below 

 [*] Schedule 

 

											
	Date	  	1H 2011	  	2H 2011	  	1H 2012	  	2H 2012	  	2013+
	 [*]

 
	  	 [*]

 
	  	 [*]

 
	  	 [*]

 
	  	 [*]

 
	  	 [*]

 

	 [*]

 
	  	 [*]

 
	  	 [*]

 
	  	 [*]

 
	  	 [*]

 
	  	 [*]

 

	 [*]

 
	  	 [*]

 
	  	 [*]

 
	  	 [*]

 
	  	 [*]

 
	  	 [*]

 

	 [*]

 
	  	 [*]

 
	  	 [*]

 
	  	 [*]

 
	  	 [*]

 
	  	 [*]

 

 Any changes in the UPC shall be as mutually agreed by the Parties. 

[*]. 
  

	4.	 PREPAYMENT, NRE AND EXCHANGE OPTION 

4.1.          Prepayment: Intel shall prepay $4,000,000 to Aquantia which will be applied
towards [*]. This prepayment shall be fully refundable at Intel’s discretion after January 1, 2010. 
  

	    	Prepaid Payment Schedule: 

  

			
	 Due on:

 
	  	
[*]
  

	 Payment

 
	  	 $4,000,000

 

 Aquantia shall invoice Intel for the foregoing prepayment [*] prior to the payment due date set forth in the table
above. Intel shall remit payment on or before the payment due date set forth above, which shall be within [*] of Intel’s receipt of Aquantia’s invoice. 

4.2.          NRE: Intel shall pay Aquantia for non-recurring engineering expenses
(“NRE”) associated with the development of [*]. Intel’s total NRE payment to Aquantia for [*] Product shall be $4,000,000. This includes [*]. 
  

	 	    	 If [*] are necessary then [*]. 

 

	 	    	 [*]. 

  

	    	 NRE Payment Schedule: 

 

			
	 Due on:

 
	  	
[*]
  

	 Payment

 
	  	 $4,000,000

 

 
 

4.3.          Aquantia shall invoice Intel for the foregoing NRE payment at least [*] prior to
the payment due date set forth in the table above. Intel shall remit payment on or before the payment due date set forth above, which shall be within [*] of Intel’s receipt of Aquantia’s invoice. For the avoidance of doubt, the foregoing
NRE payment [*]. 
  

	5.	DEFINITIONS 

  

			
	1000BASE-CX	 	IEEE 802.3z Gigabit Ethernet Standard for short haul copper (up to 25m).
	1000BASE-LX	 	IEEE 802.3z Gigabit Ethernet Standard using long wavelength (1300nm) laser, typically over Single mode Fiber.
	1000BASE-SX	 	IEEE 802.3z Gigabit Ethernet Standard using short wavelength (850nm) laser, typically over Multi-mode Fiber.
	1000BASE-T	 	IEEE 802.3ab Gigabit Ethernet Standard Physical Layer definition for long haul copper (up to 100m) over 4 pair of Category 5 balanced copper
cabling.
	802.3	 	IEEE standard that defines CSMA/CD and 10BASE-T.
	802.3ab	 	IEEE standard that defines 1000BASE-T.
	802.3u	 	IEEE standard that defines 100BASE-TX.
	802.3z	 	IEEE standard that defines 1000BASE-CX, 1000BASE-LX, 1000BASE-SX.
	A0	 	A0 is used to indicate the first revision of the silicon. If the next revision only changes metal layer, the number increments (e.g. A1). If
all (or most) layers change, the letter increments and the number resets to zero (e.g. B0).
	AFE	 	Analog Front End that converts digital signals to analog for input and output on physical interface.
	AoL	 	Alert-on-LAN.
	ASF	 	Alerting Standards Form.
	BRD	 	The library format for Cadence Allegro PCB designs
	CSMA/CD	 	Carrier Sense Multiple Access / Collision Detect. This is the type of bus protocol implemented by 802.3 Ethernet.
	CTE	 	Cold Temperature Elimination — a method to eliminate the need of testing at cold temperature at high volume production, while still
achieving quality / reliability requirements.
	DAC	 	Dual Address Cycle.
	DB	 	The library format of Synopsys synthesis libraries.
	DFT	 	Design For Testability.
	DMA	 	Direct Memory Access.

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

			
	DRC	 	Design Rule Check.
	DSP	 	Digital Signal Processor.
	EEPROM	 	Electrically Erasable Programmable Read Only Memory.
	EEE	 	Energy Efficient Ethernet
	GMAC	 	Gigabit MAC.
	GMII	 	Gigabit Media Independent Interface.
	GPIO	 	General Purpose Input/Output. This is a software controllable input/output pin/pad.
	HDL	 	Hardware Description Language.
	HSPICE	 	Industry standard models for package, analog, circuit simulation.
	IAS	 	Integration Architecture Specification – is the overall system specification for Barton Hills-LM/LC and will be the reference point for
all functions and features.
	IBIS	 	An industry standard simulation / signal characterization model of IOs.
	IO	 	Input/Output. Typically refers to a silicon pin/pad.
	LOM	 	LAN-on-Motherboard.
	LVS	 	Layout Versus Schematic.
	MAC	 	Media Access Controller. The name of the logic that implements the 802.3 CSMA/CD standard.
	MAC Controller	 	The logic that provides the MAC function along with DMA and a host interface (e.g. PCI).
	MII	 	Media Independent Interface.
	Modelsim	 	Model Technology’s HDL simulator product.
	PCI-Express	 	Third Generation high performance I/O bus implemented with serial, point-to-point type interconnect for communication between two devices at
current data-rate of 2.5 Gbits/sec. AIso known as “PCIE”.
	PDT	 	Intel and AQUANTIA Joint Program Development Team.
	PHY	 	Physical Layer Device. The device/block that implements the AFE.
	PPS & PRQ	 	There are two qualification levels designed to meet Intel’s and its customers’ product introduction and production ramp needs,
Pre-Production Samples (PPS) and Production Release Qualification (PRQ). PPS supports the unique and varied demands our businesses have in shipping limited quantities of customer qualification samples. At PRQ, Intel’s objective is to ship
unlimited quantity of commercial products that meet the Q&R requirements and are supported by the applicable Intel warranty agreements.
	PXE	 	Pre-boot execution Environment.
	RAM	 	Random Access Memory.
	SDF	 	Standard Delay Format.
	SerDes	 	Serializer-Deserializer connection used in Backplane – connection using high speed serial electrical interface, based on IEEE –
1000BaseT-CX; or Fiber interface, IEEE 1000BaseT LX/SX.
	SKU	 	Stock Keeping Unit.
	SPEF	 	Standard Parasitic Exchange Format
	Synopsys	 	Synthesis tool company. www.synopsys.com
	TBI	 	Ten Bit Interface.
	UTP	 	Unshielded Twisted Pair.
	VCS	 	Synopsys’s HDL simulator product.
	Verilog	 	An industry standard HDL language.
	WfM 2.0	 	Wired for Management 2.0 specification: an Intel initiative to improve manageability of desktop, mobile and server systems, decreasing total
cost of ownership.
	WoL	 	Wake on LAN: An IBM trademarked term, used in place of Remote Wake Up, which describes the capability of remotely bringing a PC from a low to
a high power state.
	ZOBI	 	Zero-Hours-Burn-In a method to eliminate the need of burn-in at high volume production while still achieving quality / reliability
requirements.

  

	6.	PROJECT MANAGEMENT 

 The Parties agree to assign dedicated project managers, engineering managers,
and other personnel to this project as specified below. The project managers will exercise overall project responsibility for their respective Party: 

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 Program and Engineering Project Managers 

 

									
	Party	  	Name	  	Title	  	Phone #	  	Email
	 Intel

 
	  	 [*]
  
	  	 [*]
  
	  	 [*]
  
	  	 [*]

 

	 Intel

 
	  	 [*]
  
	  	 [*]
  
	  	 [*]
  
	  	 [*]

 

	 Intel

 
	  	 [*]
  
	  	 [*]
  
	  	 [*]
  
	  	 [*]

 

	 Intel

 
	  	 [*]
  
	  	 [*]
  
	  	 [*]
  
	  	 [*]

 

	 Intel

 
	  	 [*]
  
	  	 [*]
  
	  	 [*]
  
	  	 [*]

 

	 Intel

 
	  	 [*]
  
	  	 [*]
  
	  	 [*]
  
	  	 [*]

 

	 Aquantia

 
	  	 [*]
  
	  	 [*]
  
	  	 [*]
  
	  	 [*]

 

	 Aquantia

 
	  	 [*]
  
	  	 [*]
  
	  	 [*]
  
	  	 [*]

 

	 Aquantia

 
	  	 [*]
  
	  	 [*]
  
	  	 [*]
  
	  	 [*]

 

 In addition, when applicable, both Parties agree to assign cross-functional team members to the [*] Product project.
These members will include employees of each Party representing, but not limited to, the following functions or disciplines: 
 Analog Engineering (IO cells, PHY,
and noise analysis) 
 Applications Engineering 
 Board Engineering

 CAD Engineering (Layout, DRC) 
 Customer Support 

Digital Engineering (ASIC and CMOS micro-architecture) 
 Software
Engineering 
 Foundry Support 
 Manufacturing Test Engineering

 Marketing 
 Operations 

Packaging Engineering 
 Product Engineering 

Production Operations and Document Control 
 Quality & Reliability
Engineering 
 Silicon Validation 
  

	7.	TERMINATION 

 7.1.          [*] Product Project cancellation
by Intel for convenience: 
 Any other section of the Agreement notwithstanding, Intel may terminate this Project Statement for convenience at any
time by written notice to Aquantia In lieu of any claim for termination charges provided in Sections 5.B and 5.C of the Agreement, Intel shall pay to Aquantia the remaining unpaid NRE payments under the NRE payment table in Section 4. 

7.2.          [*] Product project cancellation by Aquantia for convenience: 

Aquantia may not terminate this Project Statement for convenience. 
  

	8.	INTELLECTUAL PROPERTY AND MARKING 

 8.1.          Definitions

 8.1.1. “Aquantia Field of Use” means (a) physical layer (“PHY”) technology for Ethernet
networking technologies, circuit design, modeling and process design methodologies, programs and flows that do not fall within the Intel Field of Use and are not otherwise based in any way on Intel Confidential Information; (b) dynamic back
biasing technology that does not fall within the Intel Field of Use and is not otherwise based in any way on Intel Confidential Information, and (c) additional technology, if any, expressly identified in the Project Statement. 

8.1.2. “Aquantia Product” means [*]. 

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

	    	 8.1.3.       “Background IP” means all Intellectual Property and
Patents belonging to or controlled by either Party, (i) developed, conceived, obtained or acquired prior to the Effective Date of the Agreement or (ii) developed, conceived, obtained or acquired independently of the Agreement or not as
part of the approved Project Statement. 

  

	    	 8.1.4.       “Intel Field of Use” means (a) media access
controller (“MAC”) technology for Ethernet networking technologies; (b) technology related to manufacturing, metrology, testing, inspection, architecture, functionality and/or power management of (i) Processors,
(ii) Chipsets and (iv) Intel processor based motherboards; and (c) additional technology, if any, expressly identified in an applicable Project Statement. 

 

	    	 8.1.5.       “Intellectual Property” means any and all
intellectual property rights including all of the following and all rights in, arising out of, or associated therewith: (i) procedures, designs, inventions, and discoveries; (ii) works of authorship, copyrights and other rights in works of
authorship; (iii) mask work rights, and (iv) know-how, show-how and trade secrets on a world wide basis, but excluding all Patents issued or issuable thereon, and all trademarks, trade names, or other forms of corporate or product
identification. 

  

	    	 8.1.6.       “Patents” means all classes or types of patents
(including, without limitation, originals, divisions, continuations, continuations-in-part, extensions, renewals, reexaminations, or reissues), and applications for these classes or types of patent rights in all countries of the world (collectively,
“Patent Rights”) that are owned or controlled by the applicable Party during the term of the Agreement. 

  

	    	 8.1.7.       “Patent Prosecution” means (i) preparing, filing
and prosecuting patent applications (of all types), (ii) maintaining any Patents, and (iii) managing interference, reexamination or opposition proceedings relating to the foregoing. 

 

	    	 8.1.8.       “Project” means the development of [*] Product during
the term of this Project Statement as part of an approved Project Statement. 

  

	    	 8.1.9.       “Project IP” means all Intellectual Property and
Patents developed or conceived under this Project Statement by one Party or both Parties as part of an approved Project Statement to develop [*] Products. Project IP does not include the Background IP of either Party. 

 

	    	 8.1.10.       “[*] Product” means a product consisting of a single
integrated circuit of the integration of Intel’s 10GbE dual MAC with Aquantia’s 10GbE dual PHY described in the approved Project Statement to create [*] Product on [*] 40nm process. 

 

	8.2.	 Intellectual Property and Patent Ownership 

 

	    	 8.2.1.       Background IP. As between the Parties, Intel shall have
exclusive ownership of Intel’s Background IP, and Aquantia shall have exclusive ownership of Aquantia’s Background IP. 

  

	    	 8.2.2.       Project IP 

 

	 	    	 8.2.2.1.     Any and all Project IP, other than mask work rights, that falls within the Intel
Field of Use, whether solely or jointly developed, shall be owned solely by Intel (“Intel Owned IP”). Aquantia hereby assigns to Intel all of the Project IP developed or co-developed by Aquantia pursuant to this Project Statement that
falls within the Intel Field of Use. 

  

	 	    	 8.2.2.2.     Any and all Project IP that falls within the Aquantia Field of Use, whether
solely or jointly developed, and all mask work rights that are part of the Project IP, shall be owned solely by Aquantia (“Aquantia Owned IP”). Intel hereby assigns to Aquantia all of the Project IP developed or co-developed by Intel
pursuant to this Project Statement that falls within the Aquantia Field of Use. 

  

	 	    	 8.2.2.3.     Any Project IP that does not fall within either the Intel Field of Use or the
Aquantia Field of Use that is solely conceived by employees of one Party as part of the Project without any contribution, individually or jointly, of employees of the other Party shall be owned solely by the Party whose employees conceived such
Project IP. 

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

	 	    	 8.2.2.4. Any Project IP that does not fall within either the Intel Field of Use or the Aquantia Field of Use that
is jointly conceived by employees of both parties as part of the Project (“Joint Out-of-Field Project IP”) shall be jointly owned. 

  

	 	    	 8.2.2.5. Subject to the licenses granted in this Project Statement and upon the expressed written approval of the
other Party, either Party may at its sole expense file a Patent and carry out Patent Prosecution on any Joint Out-of-Field Project IP and the non-filing Party will assign and hereby does assign to the filing Party all of its ownership interest in
such Joint Out-of-Field Project IP and agrees to execute further instruments necessary for Patent Prosecution as reasonably requested by the filing Party. 

  

	 	    	 8.2.2.6. In the event either Party is unable to obtain the expressed written approval of the other Party pursuant
to Section 8.2.2.5 of this Project Statement, such Joint Out-of-Field Project IP will be kept as a jointly-owned trade secret. 

  

	    	 8.2.3.     Maskworks 

 

	 	    	 8.2.3.1. Sections 8.2.1 and 8.2.2 of this Project Statement notwithstanding, Aquantia shall own the mask works
for the Aquantia Product and [*] Product (each referred to as “Mask Works”) 

  

	 	    	 8.2.3.2. The Mask Works may include trade secrets of Intel. In addition and not in lieu of any obligation of
confidentiality imposed by the Agreement with respect to Intel Confidential Information, Aquantia will not disclose or otherwise make any part of Mask Works available, in any form, to any person other than Aquantia employees whose job performance
requires such access consistent with the exercise of Aquantia’s licenses under Section 8.3.3 of this Project Statement. Aquantia agrees to instruct all such employees on these obligations with respect to use, copying, protection, and
confidentiality of Mask Works. 

  

	 	    	 8.2.3.3. Upon written consent by Intel, Aquantia may deliver the Mask Works to Aquantia subcontractors approved
by Intel in writing for the purpose of exercising Aquantia’s rights under Section 8.3.3 of this Project Statement under an obligation of confidentiality at least as protective as that set forth in Section 12 of the Agreement. In the
event of the termination of the Agreement, except for breach by Aquantia, pursuant to Aquantia exercising its rights under Section 8.3.3.4 Aquantia may deliver the Mask Works to a mask or wafer fabrication subcontractor approved by Intel in
writing, provided Aquantia complies with the conditions in Section 8.5 below. Intel consents to the Mask Works being provided to [*]. 

  

	 	    	 8.2.3.4. Aquantia may not assign, sublicense, lease, or in any other way transfer or disclose Mask Works to any
third party or reproduce or distribute any part of the Mask Works except as expressly provided in this Project Statement. 

  

	    	 8.2.4.     GDSII files 

 

	 	    	 8.2.4.1. Sections 8.2.1 and 8.2.2 of this Project Statement notwithstanding, Aquantia and Intel shall jointly own
the GDSII files for the [*] Product. Section 8.6 defines Intel’s right to use the GDSII files to exercise Intel’s make and have made rights for [*] Product. 

 

	 	    	 8.2.4.2. Each Party shall protect the GDSII files to the same extent as it protects its own similar Intellectual
Property. Because the GSDII files contain confidential information of both parties, each Party shall maintain the GDSII files as confidential information of the other Party subject to Section 12 of the Agreement as well as Section 8.6
below 

  

	8.3.	 Licensing 

  

	    	 8.3.1.     Aquantia grant to Intel. Subject to the terms of the Agreement, Aquantia hereby
grants to Intel a royalty-free, non-exclusive, nontransferable, non-sublicensable (except as expressly provided herein), irrevocable, worldwide license under Project IP and Aquantia Background IP used in the development of the [*] Product to:

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

	 	    	 8.3.1.1. use and import and directly or indirectly sell, offer to sell and otherwise dispose of [*] Product;

  

	 	    	 8.3.1.2. disclose (subject to Section 12 of the Agreement), use, copy, have copied, modify and have modified
Intellectual Property delivered to Intel by Aquantia as part of a Project Statement solely for the purposes of design validation, bug evaluation and repair of designs using [*] Product; 

 

	 	    	 8.3.1.3. use [*] Product, and to use, make, have made, sell, offer to sell and import Intel products that
incorporate or are otherwise adapted to operate with [*] Product. Intel shall further have the right to extend to direct or indirect customers of Intel a license under all of Aquantia’s Patent rights in the [*] Product to use, sell, offer to
sell or import Intel products that incorporate or are otherwise adapted to operate with [*] Product, 

  

	    	 8.3.2.     API License. In addition to the licenses set forth above, Aquantia further
grants to Intel a royalty free, non-exclusive, irrevocable, worldwide license to copy, display, perform, create derivative works and distribute Aquantia’s API software which will be provided in both object and source code form and which is more
fully described in Attachment #2. 

  

	    	 8.3.3.     Intel grant to Aquantia. Subject to the terms of the Agreement and for the
term of the Agreement, Intel hereby grants to Aquantia a royalty-free, non-exclusive, nontransferable, non-sublicensable, irrevocable (except for breach of the Agreement by Aquantia), worldwide license under Project IP and Intel Background IP used
in the development of the [*] Product to: 

  

	 	    	 8.3.3.1. internally use, copy and have copied the technology delivered to Aquantia by Intel as part of a Project
Statement solely for the purposes of developing and supporting the [*] Product as specified in an approved Project Statement solely for the benefit of Intel; 

 

	 	    	 8.3.3.2. make, have made (subject to Section 8.5 (Consent for Aquantia Products) the [*] Products solely for
the benefit of Intel; and 

  

	 	    	 8.3.3.3. sell the [*] Product only to Intel; and 

 

	 	    	 8.3.3.4. to make and have made, use, import, offer for sale and sell the Aquantia Product subject to Intel
approval provided in Section 8.5 (Consent for Aquantia Products) 

  

	    	 8.3.4.     Except as set forth in Section 8.3.3.4 in no event may Aquantia exercise the
foregoing license to develop, make, use, sell or otherwise distribute any Intel Background IP or Intel Project IP other than for Intel’s benefit. Aquantia will have no right to make or use the [*] Product for its own use, or to sell the [*]
Product to anyone other than Intel. 

  

	    	 8.3.5.     The Parties acknowledge that nothing in the foregoing is intended to restrict
Aquantia from testing and validating the [*] Products to the extent necessary for the purpose of fulfilling its obligations under the Agreement. 

8.4.    Have Made Rights. For purposes of exercising its have made rights granted under Sections 8.3.3.2 and 8.3.3.4
of this Project Statement (Licensing), Aquantia may deliver Intel Technology delivered to Aquantia by Intel only to those subcontractors approved in advance in writing by Intel. 

8.5.    Consent for Aquantia Products. 
  

	    	 8.5.1.     Prior to Aquantia’s initial release of the Aquantia Product, Aquantia shall
[*] in order to ensure that adequate security has been incorporated to prevent [*] within the Aquantia Product. Upon Intel’s foregoing written approval for the Aquantia Product, Aquantia may exercise its rights under the license granted in
Section 8.3.3.4, unless and until Aquantia desires to [*] submit such new method [*]. 

  

	    	 8.5.2.     In the event of the termination of the Agreement, Aquantia may exercise its rights
under the license granted in Section 8.3.3.4 but only with respect to Aquantia Products [*]. 

  

	    	 8.5.3.     In the event of the termination of the Agreement, Aquantia represents and warrants
that it will [*], leading to [*]. The [*] will effectively [*]. This [*], allowing [*]. Once the new [*]. 

8.6.    Continuity of Supply 
  

	    	 8.6.1.     Forecast and Manufacturing Cycle Time. 

 

	 	    	 8.6.1.1. Intel will provide Aquantia with a rolling [*] forecast per the Agreement (“Forecast”) and
both Aquantia and Intel will mutually agree to [*] for the Aquantia manufacturing cycle which is to be used to [*]. 

  

	 	    	 8.6.1.2. Aquantia’s manufacturing cycle time (“Manufacturing Cycle Time” or “MCT”) is
[*]. 

  

	    	 8.6.2.     Subject to the terms of the Agreement, Aquantia grants to Intel a worldwide,
nonexclusive, nontransferable, perpetual, irrevocable license to manufacture, or have manufactured, use and import and directly or indirectly sell, offer to sell and otherwise dispose of [*] Product as limited in this Section 8.6. Intel covenants
and agrees that it will have the option to exercise the rights granted pursuant to this Section 8.6.2 upon the occurrence of one or more of the Trigger Events set forth in Section 8.6.2.1 below. 

 

	 	    	 8.6.2.1. A “Trigger Event” is any one of the following events (each, a “Trigger Event”): [*].

  

	 	    	 8.6.2.2. [*]. 

  

	    	 8.6.3.    [*]. 

 

	    	 8.6.4.    [*]. 

8.7.    Product Markings. The [*] Product shall be marked as an Intel-branded device. Aquantia shall meet Intel’s
requirements for Intel branded products as required by Intel. 

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

	9.	DESIGNATED PROJECT MANAGERS AND TECHNICAL POINTS OF CONTACT 

  

									
	For Aquantia: /s/ [*]	 		 	For Intel:
			
		 		 	[*]
			
	AQUANTIA	 		 	INTEL CORPORATION
					
	By:	 	/s/ Phil Delansay	 		 	By	 	/s/ Pat Gelsinger
			
	Printed Name: Phil Delansay	 		 	Printed name: Pat Gelsinger
			
	Title: CEO	 		 	Title: Sr. VP & GM, Digital Enterprise Group
					
	Date:	 	January 15, 2009	 		 	Date:	 	January 15, 2009

  

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 ATTACHMENT #1 TO PROJECT STATEMENT #1: [*] PRODUCT 

REQUIRED FEATURES OF THE [*] PRODUCT 
 Project Summary: 

[*2 pages*] 
  

									
	AQUANTIA	 		 	INTEL CORPORATION
					
	By:	 	/s/ Phil Delansay	 		 	By	 	/s/ Pat Gelsinger
			
	Printed Name: Phil Delansay	 		 	Printed name: Pat Gelsinger
			
	Title: CEO	 		 	Title: Sr. VP & GM, Digital Enterprise Group
					
	Date:	 	January 15, 2009	 		 	Date:	 	January 15 ,2009

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 ATTACHMENT #2 TO [*] PRODUCT PROJECT STATEMENT 

STATEMENT OF WORK (“SOW”) 

This Attachment #2 describes Key Milestones, deliverables and required dates throughout the Project. Following the effective date of this Project
Statement #1, the Parties may choose to revise the content of this Attachment #2, including delivery dates, milestones, etc. as mutually agreed. All such subsequent changes or revisions to these milestones, deliverables and dates are subject to
ratification by Intel and Aquantia in meetings held by the Program Managers at Intel and Aquantia, and recorded in the Meeting Minutes and Project Schedule. 

Aquantia Deliverables and Milestones 
 The table below represents a summary
of the Aquantia and Intel deliverables, milestones, and associated delivery dates. [*]. Each milestone is briefly defined in the section below the table. 

[*]. 
  

							
	Section Ref	  	Deliverable/Milestone	  	Owner(s)	  	
Date 

(DATES TBD, WILL CHANGE!)

	
(1)
	  	[*]	  	Intel/Aquantia	  	[*]
	
(2)
	  	[*]	  	Intel	  	[*]
	
(3)
	  	[*]	  	Aquantia	  	[*]
	
(4)
	  	[*]	  	Intel	  	[*]
	
(5)
	  	[*]	  	Aquantia	  	[*]
	
(6)
	  	[*]	  	Intel	  	[*]
	
(7)
	  	[*]	  	Intel	  	[*]
	
(8)
	  	[*]	  	Aquantia	  	[*]
	
(9)
	  	[*]	  	Intel	  	[*]
	
(10)
	  	[*]	  	Aquantia	  	[*]
	
(11)
	  	[*]	  	Aquantia	  	[*]
	
(12)
	  	[*]	  	Aquantia	  	[*]
	
(13)
	  	[*]	  	Aquantia	  	[*]
	
(14)
	  	[*]	  	Intel	  	[*]
	
(15)
	  	[*]	  	Intel/Aquantia	  	[*]
	
(16)
	  	[*]	  	Intel	  	[*]
	
(17)
	  	[*]	  	Aquantia	  	[*]
	
(18)
	  	[*]	  	Intel	  	[*]
	
(19)
	  	[*]	  	Aquantia	  	[*]
	
(20)
	  	[*]	  	Aquantia	  	[*]
	
(21)
	  	[*]	  	Aquantia	  	[*]
	
(22)
	  	[*]	  	Intel	  	[*]
	
(23)
	  	[*]	  	Intel/Aquantia	  	[*]
	
(24)
	  	[*]	  	Intel	  	[*]

 Milestone Definition 
 The below section
briefly summarizes each milestone listed in above table. 
 [*2 pages*]. 

Vendor validation for key components: 
 [*1 page*] 

Aquantia Reference Design Milestones 
 The following design milestones and
associated delivery dates are referenced for the purpose of [*]. 
 AQ1002 (90nm) 

			
	Deliverable/Milestone	  	Target Date
	
Preliminary Results of Intel Defined Electrical/IEEE Testing Matrix (10Gbps) as defined in Appendix C
	  	Done
	
Preliminary Results of Intel Defined Electrical/IEEE Testing Matrix (1Gbps) as defined in Appendix C
	  	11/08
	
Completion of Intel Defined Electrical/IEE Testing Matrix (1Gbps) as defined in Appendix C
	  	1/09
	
Completion of Intel Defined Electrical/IEEE Testing Matrix (10Gbps) as defined in Appendix C & FW 1.0 release
	  	1/09
	
Launch
	  	4/09

 Test Chip 1 (ADC) 40nm 

			
	Deliverable/Milestone	  	Target Date
	
Test Report
	  	Completed 6/08

 Test Chip 2 (Band Gap, DAC, LC Clock Synthesizers) 40nm 

			
	Deliverable/Milestone	  	Target Date
	
Tape out
	  	Completed 4/15/08
	
Preliminary Test Results
	  	11/08

 Test Chip 3 (Band Gap, DAC, LC Clock Synthesizers, ADC, line driver) 40nm 

			
	Deliverable/Milestone	  	Target Date
	
Tape out
	  	Completed 11/15/08
	
Preliminary Test Results
	  	3/09

  

									
	AQUANTIA	 		 	INTEL CORPORATION
					
	By:	 	/s/ Phil Delansay	 		 	By:	 	/s/ Pat Gelsinger
			
	Printed Name: Phil Delansay	 		 	Printed Name: Pat Gelsinger
			
	Title: CEO	 		 	Title: Sr. VP & GM, Digital Enterprise Group
					
	Date:	 	January 15, 2009	 		 	Date:	 	January 15, 2009

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 ATTACHMENT #3 TO [*] PRODUCT PROJECT STATEMENT 

Quality and Reliability CONFORMANCE REQUIREMENTS 

Sample Size May Change Per Risk Assessment 
  

											
	Stress	  	Lots Total	  	Units/Lot	  	  PPS Requirement  	  	  PRQ Requirement  	  	Notes
	
[*3 pages*]
	  	 	  	 	  	 	  	 	  	 

  

			
	 [*]
	  	By/ Between
	
[*]
	  	Intel/Aquantia
	
[*]
	  	Intel/Aquantia
	
[*]
	  	Intel/Aquantia

 These Q&R requirements may be adjusted, upon due consideration by both Intel and Aquantia at a peer-to-peer level, or by formal
re-negotiation and written acceptance, if so required. 
  

									
	AQUANTIA	 		 	INTEL CORPORATION
					
	By:	 	/s/ Phil Delansay	 		 	By:	 	/s/ Pat Gelsinger
			
	Printed Name: Phil Delansay	 		 	Printed Name: Pat Gelsinger
			
	Title: CEO	 		 	Title: Sr. VP & GM, Digital Enterprise Group
					
	Date:	 	January 15, 2009	 		 	Date:	 	January 15, 2009

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 ADDENDUM A 

PROJECT STATEMENT #2 – [*] PRODUCT 
  

 
  

	1.	INCORPORATION INTO AGREEMENT 

 Intel and Aquantia (the “Parties”) agree that this
Project Statement #2 (“Project Statement”) shall be attached to and incorporated in the “Agreement” as Attachment Number #2. For purposes of this Project Statement #2, the “Agreement” means the Master Purchase Agreement
between Intel Corporation and Aquantia Corporation dated January 15, 2009, as amended to-date. The purpose of this Project Statement #2 is to set forth the terms and conditions under which Aquantia shall develop and deliver a 10GbE dual MAC/PHY
device (“[*] Product”). The Parties agree that the date of this Project Statement #2 shall be August 15, 2012. 
 Any changes to the
specifications of [*] Product that are set forth in this Project Statement #2 shall be agreed to by the Parties in writing. 
  

	2.	 DEFINITIONS AND PRODUCT DESCRIPTION 

Aquantia shall combine Intel’s 10GbE dual MAC with Aquantia’s 10GbE dual Aspen PHY to create the [*] Product [*] on [*] 28nm process [*]. [*].
Both parties shall mutually agree to complete and approve [*] Tapeout engineering requirements. [*]. Intel and Aquantia shall agree that the [*] shall include features and functions necessary for [*] in order to ensure that [*]. 

Aquantia shall [*]. Intel’s dual MAC shall be delivered as a [*] with Aquantia performing [*] in order to deliver [*] devices to Intel. [*] Product
is a Custom Item. 
  

	3.	 PRICING 

3.1     Sample and/or Prototype Units. Upon availability and prior to [*] (or other dates subsequently agreed to by
the Parties) Intel may purchase sample or prototype units of [*] Product from Aquantia as follows: 
 3.2     All sample and/or
prototype units, regardless of spin (e.g., A0, A1, A2): Aquantia shall provide the first 200 samples to Intel at no cost. Intel may purchase additional samples at [*]. 
  

	3.3	 [*] Units Purchase Price 

Intel may purchase [*] at the pricing specified below following its delivery to Aquantia of Intel’s written confirmation that [*] Product has
received [*]. Following such notice Intel shall place purchase orders [*] units delivered to it in keeping with the purchase order terms specified in Sections 3 and 4 of the Master Purchase Agreement. 

[*] Unit Price on Intel purchase orders sent to Aquantia with a delivery date [*] shall be [*]. 

Prompt payment shall be computed from the latest of: 

[*]. 
  

	3.4	 The [*] below is based on [*]: 

[*] 
 Any changes in the UP shall be as mutually
agreed by the Parties. [*]. 
 
  

	4.	 NRE PAYMENT 

4.1          Payment: Intel shall pay [*] to Aquantia as NRE per table below. 

 

			
	 Activity Breakdown

 
	  	  
	
[*]
  
	  	 [*]

 

	
[*]
  
	  	 [*]

 

	
[*]
  
	  	 [*]

 

 4.2          [*] 

 

	    	Payment Schedule: 

  

			
	 Due on:

 
	  	  
	 [*]

 
	  	 [*]

 

	 [*]

 
	  	 [*]

 

	 [*]

 
	  	 [*]

 

	 [*]

 
	  	 [*]

 

 4.3          NRE: Intel shall pay Aquantia for non-recurring
engineering expenses (“NRE”) associated with the development of [*], according to the table above. This includes [*]. 
  

	 	    	 If [*] are necessary, then [*]. 

 

	 	    	 [*]. 

  

	 	    	 [*]. 

  

	5.	DEFINITIONS 

  

			
	1000BASE-CX	 	IEEE 802.3z Gigabit Ethernet Standard for short haul copper (up to 25m).
	1000BASE-LX	 	IEEE 802.3z Gigabit Ethernet Standard using long wavelength (1300nm) laser, typically over Single mode Fiber.
	1000BASE-SX	 	IEEE 802.3z Gigabit Ethernet Standard using short wavelength (850nm) laser, typically over Multi-mode Fiber.
	1000BASE-T	 	IEEE 802.3ab Gigabit Ethernet Standard Physical Layer definition for long haul copper (up to 100m) over 4 pair of Category 5 balanced copper
cabling.
	10GBASE-T	 	IEEE 802.3an
	802.3	 	IEEE standard that defines CSMA/CD and 10BASE-T.
	802.3ab	 	IEEE standard that defines 1000BASE-T.
	802.3u	 	IEEE standard that defines 100BASE-TX.
	802.3z	 	IEEE standard that defines 1000BASE-CX, 1000BASE-LX, 1000BASE-SX.
	A0	 	A0 is used to indicate the first revision of the silicon. If the next revision only changes metal layer, the number increments (e.g. A1). If
all (or most) layers change, the letter increments and the number resets to zero (e.g. B0).
	AFE	 	Analog Front End that converts digital signals to analog for input and output on physical interface.
	AoL	 	Alert-on-LAN.
	ASF	 	Alerting Standards Form.
	BRD	 	The library format for Cadence Allegro PCB designs
	CSMA/CD	 	Carrier Sense Multiple Access / Collision Detect. This is the type of bus protocol implemented by 802.3 Ethernet.
	CTE	 	Cold Temperature Elimination – a method to eliminate the need of testing at cold temperature at high volume production, while still
achieving quality / reliability requirements.
	DAC	 	Dual Address Cycle.
	DB	 	The library format of Synopsys synthesis libraries.
	DFT	 	Design For Testability.
	DMA	 	Direct Memory Access.
	DRC	 	Design Rule Check.

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

			
	DSP	 	Digital Signal Processor.
	EEPROM	 	Electrically Erasable Programmable Read Only Memory.
	EEE	 	Energy Efficient Ethernet
	GMAC	 	Gigabit MAC.
	GMII	 	Gigabit Media Independent Interface.
	GPIO	 	General Purpose Input/Output. This is a software controllable input/output pin/pad.
	HDL	 	Hardware Description Language.

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

			
	HSPICE	 	Industry standard models for package, analog, circuit simulation.
	IAS	 	Integration Architecture Specification – is the overall system specification for Barton Hills-LM/LC and shall be the reference point for
all functions and features.
	IBIS	 	An industry standard simulation / signal characterization model of IOs.
	IO	 	Input/Output. Typically refers to a silicon pin/pad.
	LOM	 	LAN-on-Motherboard.
	LVS	 	Layout Versus Schematic.
	MAC	 	Media Access Controller. The name of the logic that implements the 802.3 CSMA/CD standard.
	MAC Controller	 	The logic that provides the MAC function along with DMA and a host interface (e.g. PCI).
	MII	 	Media Independent Interface.
	Modelsim	 	Model Technology’s HDL simulator product.
	PCI-Express	 	Third Generation high performance I/O bus implemented with serial, point-to-point type interconnects for communication between two devices at
current data-rate of 2.5 Gbits/sec. Also known as “PCIE”.
	PDT	 	Intel and AQUANTIA Joint Program Development Team.
	PHY	 	Physical Layer Device. The device/block that implements the AFE.
	POR	 	Plan of Record.
	PPS & PRQ	 	There are two qualification levels designed to meet Intel’s and its customers’ product introduction and production ramp needs,
Pre-Production Samples (PPS) and Production Release Qualification (PRQ). PPS supports the unique and varied demands our businesses have in shipping limited quantities of customer qualification samples. At PRQ, Intel’s objective is to ship
unlimited quantity of commercial products that meet the Q&R requirements and are supported by the applicable Intel warranty agreements.
	PXE	 	Pre-boot execution Environment.
	RAM	 	Random Access Memory.
	SDF	 	Standard Delay Format.
	SerDes	 	Serializer-Deserializer connection used in Backplane – connection using high speed serial electrical interface, based on IEEE –
1000BaseT-CX; or Fiber interface, IEEE 1000BaseT LX/SX.
	SKU	 	Stock Keeping Unit.
	SPEF	 	Standard Parasitic Exchange Format
	Synopsys	 	Synthesis tool company. www.synopsys.com
	TBI	 	Ten Bit Interface.
	UTP	 	Unshielded Twisted Pair.
	VCS	 	Synopsys’s HDL simulator product.
	Verilog	 	An industry standard HDL language.
	WfM 2.0	 	Wired for Management 2.0 specification: an Intel initiative to improve manageability of desktop, mobile and server systems, decreasing total
cost of ownership.
	WoL	 	Wake on LAN: An IBM trademarked term, used in place of Remote Wake Up, which describes the capability of remotely bringing a PC from a low to
a high power state.
	ZOBI	 	Zero-Hours-Burn-In a method to eliminate the need of burn-in at high volume production while still achieving quality / reliability
requirements.

  

	6.	PROJECT MANAGEMENT 

 The Parties agree to assign dedicated project managers, engineering managers,
and other personnel to this project as specified below. The project managers shall exercise overall project responsibility for their respective Party: 

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 Program and Engineering Project Managers 

 

									
	Party	  	Name	  	Title	  	Phone*	  	Email
	 Intel

 
	  	 [*]
  
	  	 [*]
  
	  	 [*]
  
	  	 [*]

 

	 Intel

 
	  	 [*]
  
	  	 [*]
  
	  	 [*]
  
	  	 [*]

 

	 Intel

 
	  	 [*]
  
	  	 [*]
  
	  	 [*]
  
	  	 [*]

 

	 Intel

 
	  	 [*]
  
	  	 [*]
  
	  	 [*]
  
	  	 [*]

 

	 Intel

 
	  	 [*]
  
	  	 [*]
  
	  	 [*]
  
	  	 [*]

 

	 Intel

 
	  	 [*]
  
	  	 [*]
  
	  	 [*]
  
	  	 [*]

 

	 Aquantia

 
	  	 [*]
  
	  	 [*]
  
	  	 [*]
  
	  	 [*]

 

	 Aquantia

 
	  	 [*]
  
	  	 [*]
  
	  	 [*]
  
	  	 [*]

 

	 Aquantia

 
	  	 [*]
  
	  	 [*]
  
	  	 [*]
  
	  	 [*]

 

 In addition, when applicable, both Parties agree to assign cross-functional team members to the [*] Product project.
These members shall include employees of each Party representing, but not limited to, the following functions or disciplines: 
 Analog Engineering
(IO cells, PH, and noise analysis) 
 Applications Engineering 

Board Engineering 
 CAD Engineering (Layout,
DRC) 
 Customer Support 
 Digital
Engineering (ASIC and CMOS micro-architecture) 
 Software Engineering 

Foundry Support 
 Manufacturing Test
Engineering 
 Marketing 
 Operations

 Packaging Engineering 
 Product
Engineering 
 Production Operations and Document Control 

Quality & Reliability Engineering 

Silicon Validation 
  

	7.	 Termination 

  

	7.1	 [*] Product Project cancellation by Intel for convenience: 

Any other section of the Agreement notwithstanding, Intel may terminate this Project Statement for convenience at any time by written notice to
Aquantia. 
  

	7.2	 [*] Product project cancellation by Aquantia for convenience: 

Aquantia may not terminate this Project Statement for convenience. 

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

	8.	Intellectual Property and Marking 

  

	8.1	Definitions 

 8.1.1     “Aquantia Field of
Use” means (i) physical layer (“PHY”) technology for Ethernet networking technologies, circuit design, modeling and process design methodologies, programs and flows that do not fall within the Intel Field of Use and are not
otherwise based in any way on Intel Confidential Information; (ii) dynamic back biasing technology that that does not fall within the Intel Field of Use and is not otherwise based in any way on Intel Confidential Information; and
(iii) additional technology, if any, expressly identified in the Project Statement. 
 8.1.2    
“Aquantia Product” means [*] 
 8.1.3     “Background IP” means
all Intellectual Property and Patents belonging to or controlled by either Party, (i) developed, conceived, obtained or acquired prior to the Effective Date of the Agreement or (ii) developed, conceived, obtained or acquired independently
of the Agreement or not as part of the approved Project Statement. 
 8.1.4     “Intel Field of
Use” means (i) media access controller (“MAC’) technology for Ethernet networking technologies; (ii) technology related to manufacturing, metrology, testing, inspection, architecture, functionality and/or power
management of (iii) Processors, (iv) Chipsets and (v) Intel processor based motherboards; and (vi) additional technology, if any, expressly identified in an applicable Project Statement. 

8.1.5     “Intellectual Property” means any and all intellectual property rights including all of
the following and all rights in, arising out of, or associated therewith: (i) procedures, designs, inventions, and discoveries; (ii) works of authorship, copyrights and other rights in works of authorship; (iii) mask work rights, and
(iv) know-how, show-how and trade secrets on a worldwide basis, but excluding all Patents issued or issuable thereon, and all trademarks, trade names, or other terms of corporate or product identification. 

8.1.6     “Patents” means all classes or types of patents (including, without limitation,
originals, divisions, continuations, continuations-in-part, extensions, renewals, reexaminations, or reissues), and applications for these classes or types of patent rights in all countries of the world (collectively, “Patent Rights”) that
are owned or controlled by the applicable Party during the term of the Agreement. 
 8.1.7     “Patent
Prosecution” means (i) preparing, filing and prosecuting patent applications (of all types), (ii) maintaining any Patents, and (iii) managing interference, reexamination or opposition proceedings relating to the foregoing.

 8.1.8     “Project” means the development of [*] Product during the term of this Project
Statement as part of an approved Project Statement. 
 8.1.9     “Project IP” means all
Intellectual Property and Patents developed or conceived under this Project Statement by one Party or both Parties as part of an approved Project Statement to develop [*] Products. Project IP does not include the Background IP of either Party. 

8.1.10     “[*] Product” means a product consisting of a single integrated circuit of the
integration of Intel’s 10GbE dual MAC with Aquantia’s 10GbE dual PHY described in the approved Project Statement to create [*] Product on [*] 28nm process. 

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

	8.2	Intellectual Property and Patent Ownership 

 8.2.1    
Background IP. As between the Parties, Intel shall have exclusive ownership of Intel’s Background IP, and Aquantia shall have exclusive ownership of Aquantia’s Background IP. 

8.2.2     Protect IP 

8.2.2.1     Any and all Project IP, other than mask work rights, that falls within the Intel Field of Use, whether
solely or jointly developed, shall be owned solely by Intel (“Intel Owned IP”). Aquantia hereby assigns to Intel all of the Project IP developed or co-developed by Aquantia pursuant to this Project Statement that falls within the Intel
Field of Use. 
 8.2.2.2     Any and all Project IP that falls within the Aquantia Field of Use, whether solely
or jointly developed, and all mask work rights that are part of the Project IP, shall be owned solely by Aquantia (“Aquantia Owned IP”). Intel hereby assigns to Aquantia all of the Project IP developed or co-developed by Intel pursuant to
this Project Statement that falls within the Aquantia Field of Use. 
 8.2.2.3     Any Project IP that does not
fall within either the Intel Field of Use or the Aquantia Field of Use that is solely conceived by employees of one Party as part of the Project without any contribution, individually or jointly, of employees of the other Party shall be owned solely
by the Party whose employees conceived such Project IP. 
 8.2.2.4     Any Project IP that does not fall within
either the Intel Field of Use or the Aquantia Field of Use that is jointly conceived by employees of both parties as part of the Project (“Joint Out-of-Field Project IP”) shall be jointly owned. 

8.2.2.5     Subject to the licenses granted in this Project Statement and upon the expressed written approval of
the other Party, either Party may at its sole expense file a Patent and carry out Patent Prosecution on any Joint Out-of-Field Project IP and the non-filing Party shall assign and hereby does assign to the filing Party all of its ownership interest
in such Joint Out-of-Field Project IP and agrees to execute further instruments necessary for Patent Prosecution as reasonably requested by the filing Party. 

8.2.2.6     In the event either Party is unable to obtain the expressed written approval of the other Party
pursuant to Section 8.2.2.5 of this Project Statement, such Joint Out-of-Field Project IP shall be kept as a jointly-owned trade secret. 

8.2.3     Maskworks 

8.2.3.1     Sections 8.2.1 and 8.2.2 of this Project Statement notwithstanding, Aquantia shall own the mask works
for the Aquantia Product and [*] Product (each referred to as “Mask Works”). 
 8.2.3.2     The Mask
Works may include trade secrets of Intel. In addition and not in lieu of any obligation of confidentiality imposed by the Agreement with respect to Intel Confidential Information, Aquantia shall not disclose or otherwise make any part of Mask Works
available, in any form, to any person other than Aquantia employees whose job performance requires such access consistent with the exercise of Aquantia’s licenses under Section 8.3.3 of this Project Statement. Aquantia agrees to instruct
all such employees on these obligations with respect to use, copying, protection, and confidentiality of Mask Works. 
 8.2.3.3
    Upon written consent by Intel, Aquantia may deliver the Mask Works to Aquantia subcontractors approved by Intel in writing for the purpose of exercising Aquantia’s rights under Section 8.3.3 of this Project
Statement under an obligation of confidentiality at least as protective as that set forth in Section 12 of the Agreement. In the event of the termination of the Agreement, except for breach by Aquantia, pursuant to Aquantia exercising its
rights under Section 8.3.3.2. Aquantia may deliver the Mask Works to a mask or wafer fabrication subcontractor approved by Intel in writing, provided Aquantia complies with the conditions in Section 8.5 below. Intel consents to the Mask
Works being provided to [*]. 

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 8.2.3.4     Aquantia may not assign, sublicense, lease, or in any
other way transfer or disclose Mask Works to any third party or reproduce or distribute any part of the Mask Works except as expressly provided in this Project Statement. 

8.2.4     GDSII files 

8.2.4.1     Sections 8.2.1 and Section 8.2.2 of this Project Statement notwithstanding, Aquantia and Intel
shall jointly own the GDSII files for the [*] Product. Section 8.6 defines Intel’s right to use the GDSII files to exercise Intel’s make and have made rights for [*] Product. 

8.2.4.2     Each Party shall protect the GDSII files to the same extent as it protects its own similar Intellectual
Property. Because the GSDII files contain confidential information of both parties, each Party shall maintain the GDSII files as confidential information of the other Party subject to Section 12 of the Agreement as well as Section 8.6
below. Aquantia shall not deliver Intel GSDII files (for PCIE) to any third party company for any reason without written permission and approval from Intel. Intel shall not deliver Aquantia GDSII files for the PHY to any third party company for any
reason without written permission and approval from Aquantia. 
  

	8.3	 Licensing 

8.3.1     Aquantia grant to Intel. Subject to the terms of the Agreement, Aquantia hereby grants to Intel a
royalty-free, non-exclusive, nontransferable, non-sub licensable (except as expressly provided herein), irrevocable, worldwide license under Project IP and Aquantia Background IP used in the development of the [*] Product to: 

8.2.2.1     use and import and directly or indirectly sell, offer to sell and otherwise dispose of [*] Product;

 8.2.2.2     disclose (subject to Section 12 of the Agreement), use, copy, have copied, modify and have
modified Intellectual Property delivered to Intel by Aquantia as part of a Project Statement solely for the purposes of design validation, bug evaluation and repair of designs using [*] Product; 

8.2.2.3     use [*] Product, and to use, make, have made, sell, offer to sell and import Intel products that
incorporate or are otherwise adapted to operate with [*] Product. Intel shall further have the right to extend to direct or indirect customers of Intel a license under all of Aquantia’s Patent rights in the [*] Product to use, sell, offer to
sell or import Intel products that incorporate or are otherwise adapted to operate with [*] Product. 
 8.3.2    
API License. In addition to the licenses set forth above, Aquantia further grants to Intel a royalty free, non-exclusive, irrevocable, worldwide license to copy, display, perform, create derivative works and distribute Aquantia’s
API software which shall be provided in both object and source code form and which is more fully described in Attachment #2. 

8.3.3     Intel grant to Aquantia. Subject to the terms of the Agreement and for the term of the
Agreement, Intel hereby grants to Aquantia a royalty-free, non-exclusive, nontransferable, non-sub licensable, irrevocable (except for breach of the Agreement by Aquantia), worldwide license under Project IP and Intel Background IP used in the
development of the [*] Product to: 
 8.3.3.1     internally use, copy and have copied the technology delivered
to Aquantia by Intel as part of a Project Statement solely for the purposes of developing and supporting the [*] Product as specified in an approved Project Statement solely for the benefit of Intel; 

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 8.3.3.2     make, have made (subject to Section 8.5 (Consent for
Aquantia Products) the [*] Products solely for the benefit of Intel; and sell the [*] Product only to Intel; and to make and have made, use, import, offer for sale and sell the Aquantia Product subject to Intel approval provided in Section 8.5
(Consent for Aquantia Products). 
 8.3.4     Except as set forth in Section 8.3.3.2 in no event may Aquantia
exercise the foregoing license to develop, make, use, sell or otherwise distribute any Intel Background IP or Intel Project IP other than for Intel’s benefit. Aquantia shall have no right to make or use the [*] Product for its own use, or to
sell the [*] Product to anyone other than Intel. 
 8.3.5     The Parties acknowledge that nothing in the
foregoing is intended to restrict Aquantia from testing and validating the [*] Products to the extent necessary for the purpose of fulfilling its obligations under the Agreement. 

8.4     Have Made Rights. For purposes of exercising its have made rights granted under Sections of this Project
Statement (Licensing), Aquantia may deliver Intel Technology delivered to Aquantia by Intel only to those subcontractors approved in advance in writing by Intel. 

8.5     Consent for Aquantia Products. 

8.5.1     Prior to Aquantia’s initial release of the Aquantia Product, Aquantia shall [*] in order to ensure
that adequate security has been incorporated to prevent [*] within the Aquantia Product. Upon Intel’s foregoing written approval for the Aquantia Product, Aquantia may exercise its rights under the license granted in Section 8.3.3.2, unless and
until Aquantia desires to [*] submit such new method [*]. 
 8.5.2     In the event of the termination of the
Agreement, Aquantia may exercise its rights under the license granted in Section 8.3.3.2, but only with respect to Aquantia Products [*]. 

8.5.3     In the event of the termination of the Agreement, Aquantia represents and warrants that it shall [*]. 

8.6     Continuity of Supply 

8.6.1     Forecast and Manufacturing Cycle Time. 

8.6.1.1     Intel shall provide Aquantia with a rolling [*] forecast per the Agreement (“Forecast”) and
both Aquantia and Intel shall mutually agree to [*] for the Aquantia manufacturing cycle which is to be used to [*]. 
 8.6.1.2
    Aquantia’s manufacturing cycle time (“Manufacturing Cycle Time” or “MCT”) is [*]. 

8.6.1.3     Intel shall place non-cancellable purchase orders with lead time equal to or longer than MCT. 

8.6.2     Subject to the terms of the Agreement, Aquantia grants to Intel a worldwide, nonexclusive,
nontransferable, perpetual, irrevocable license to manufacture, or have manufactured, use and import and directly or indirectly sell, offer to sell and otherwise dispose of [*] Product as limited in this Section 8.6. Intel covenants and agrees that
it shall have the option to exercise the rights granted pursuant to this Section 8.6.2 upon the occurrence of one or more of the Trigger Events set forth in Section 8.6.2.1 below. 

8.6.2.1     A “Trigger Event” is any one of the following events (each, a “Trigger Event”):
[*]. 
 8.6.2.2     [*]. 

8.6.3     [*]. 

8.6.4     [*]. 

8.6.5     [*]. 

8.7     Product Markings. The [*] Product shall be marked as an Intel-branded device. Aquantia shall meet Intel’s
requirements for Intel branded products as required by Intel. 
 8.8     End of Life. Aquantia shall support [*]
design and Intel manufacturing requirements to at least [*], with annual evergreen renewal. If Aquantia needs to discontinue manufacture of [*] product, Aquantia shall provide [*] notification of discontinuance of manufacturing [*] product. 

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

	9	DESIGNATED PROJECT MANAGERS AND TECHNICAL POINTS OF CONTACT 

  

									
	For Aquantia:	 		 	For Intel:
			
	[*]	 		 	[*]
			
	AQUANTIA	 		 	INTEL CORPORATION
					
	By:	 	/s/ Faraj Aalaei	 		 	By:	 	/s/ Dawn Moore
			
	Printed Name: Faraj Aalaei	 		 	Printed Name: Dawn Moore
			
	Title: CEO	 		 	GM, LAN Access Division
					
	Date:	 	8/17/12	 		 	Date:	 	8/20/12

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 ATTACHMENT #1 TO PROJECT STATEMENT #2: [*] PRODUCT 

REQUIRED FEATURES OF THE [*] PRODUCT 
 Project Summary: 

[*7 pages*] 
 There shall be full commitment from both sides to finish the testing
and coverage milestones on schedule even if this entails onsite support. 
  

									
	AQUANTIA	 		 	INTEL CORPORATION
					
	By:	 	/s/ Faraj Aalaei	 		 	By:	 	/s/ Dawn Moore
			
	Printed Name: Faraj Aalaei	 		 	Printed Name: Dawn Moore
			
	Title: CEO	 		 	GM, LAN Access Division
					
	Date:	 	8/17/12	 		 	Date:	 	8/20/12

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 ATTACHMENT #2 TO [*] PRODUCT PROJECT STATEMENT 

STATEMENT OF WORK (“SOW”) 
 This
Attachment #2 describes Key Milestones, deliverables and required dates throughout the Project. All subsequent changes or additions to these milestones, deliverables and dates are subject to ratification by Intel and Aquantia in meetings held by the
Program Managers at Intel and Aquantia, and recorded in the Meeting Minutes and Project Schedule. 
 Aquantia Deliverables and Milestones 

The table below represents a summary of the Aquantia & Intel deliverables, milestones, and associated delivery dates. [*]. 

 

							
	Section  
Reference  	  	Owner(s)	  	Deliverable/Milestone	  	Date
	  	  	  	(commit)
	1	  	Aquantia	  	[*]	  	[*]
	2	  	Aquantia	  	[*]	  	[*]
	3	  	Intel	  	[*]	  	[*]
	4	  	Aquantia	  	[*]	  	[*]
	5	  	Aquantia	  	[*]	  	[*]
	6	  	Aquantia	  	[*]	  	[*]
	7	  	Intel	  	[*]	  	[*]
	8	  	Intel	  	[*]	  	[*]
	9	  	Intel	  	[*]	  	[*]
	10	  	Aquantia	  	[*]	  	[*]
	11	  	Intel	  	[*]	  	[*]
	12	  	Aquantia	  	[*]	  	[*]
	13	  	Aquantia	  	[*]	  	[*]
	14	  	Intel	  	[*]	  	[*]
	15	  	Aquantia	  	[*]	  	[*]
	16	  	Aquantia	  	[*]	  	[*]
	17	  	Aquantia	  	[*]	  	[*]
	18	  	Aquantia	  	[*]	  	[*]
	19	  	Intel	  	[*]	  	[*]

 [*]. 
 Checkpoints with Aquantia 

					
	date	  	checkpoint	  	content
	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]
	
[*]
	  	 [*]
	  	 [*]

 
 Milestone Definition 

					
	Section  
Ref  	  	Deliverable/
Milestone	  	Milestone Definition
	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]

 [*1 page*] 

 

									
	AQUANTIA	 		 	INTEL CORPORATION
					
	By:	 	/s/ Faraj Aalaei	 		 	By:	 	/s/ Dawn Moore
			
	Printed Name: Faraj Aalaei	 		 	Printed Name: Dawn Moore
			
	Title: CEO	 		 	GM, LAN Access Division
					
	Date:	 	8/17/12	 		 	Date:	 	8/20/12

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 ATTACHMENT #3 TO [*] PRODUCT PROJECT STATEMENT 

Quality and Reliability CONFORMANCE REQUIREMENTS 

Sample Size May Change Per Risk Assessment 
 These Q&R
requirements may be adjusted, upon due consideration by both Intel and Aquantia at a peer-to-peer level, or by formal re-negotiation and written acceptance, if so required. 

[*]. 
 [*] Requirements [*] 

					
	Stress	  	[*] Requirement [*]	  	Notes
	
[*]
	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]

 [*] Q&R Requirements 

											
	Stress	  	Lots Total	  	Units/Lot	  	QS Requirement  	  	PRQ Requirement  	  	Notes
	
[*]
	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	
[*]
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[*]
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[*]
	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]

 Notes: 
 [*6 pages*] 

 

			
	 [*]
	  	By/ Between
	
[*]
	  	Intel/Aquantia
	
[*]
	  	Intel/Aquantia
	
[*]
	  	Intel/Aquantia

 [*1 page*] 
 

 

									
	AQUANTIA	 		 	INTEL CORPORATION
					
	By:	 	/s/ Faraj Aalaei	 		 	By:	 	/s/ Dawn Moore
			
	Printed Name: Faraj Aalaei	 		 	Printed Name: Dawn Moore
			
	Title: CEO	 		 	GM, LAN Access Division
					
	Date:	 	8/17/12	 		 	Date:	 	8/20/12

  

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 ATTACHMENT #4 TO [*] PROJECT STATEMENT 

HVM Requirements and Customer returns support 
 [*]. 

 

							
	Activity	  	
Condition to enable

monitor
	  	Monitor flow	  	
Condition for

elimination

	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

									
	AQUANTIA	 		 	INTEL CORPORATION
					
	By:	 	/s/ Faraj Aalaei	 		 	By:	 	/s/ Dawn Moore
			
	Printed Name: Faraj Aalaei	 		 	Printed Name: Dawn Moore
			
	Title: CEO	 		 	GM, LAN Access Division
					
	Date:	 	8-18-12	 		 	Date:	 	8/20/12

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 ATTACHMENT #5 TO [*] PROJECT STATEMENT 

Test Requirements 
 [*]. 

 

			
	Test Module	  	Comments
	
[*]
	  	[*]
	
[*]
	  	[*]
	
[*]
	  	[*]
	
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 5. [*] 
  

											
	Test	  	Method	  	Material	  	Temp	  	Repeat	  	Note
	
[*]
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[*]
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 [*] 
  

			
	Criteria	  	Requirements
	
[*]
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	Correlation Item	  	Minimum quantity #	  	Comments	  	Success Criteria
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
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	AQUANTIA	 		 	INTEL CORPORATION
					
	By:	 	/s/ Faraj Aalaei	 		 	By:	 	/s/ Dawn Moore
			
	Printed Name: Faraj Aalaei	 		 	Printed Name: Dawn Moore
			
	Title: CEO	 		 	GM, LAN Access Division
					
	Date:	 	8/17/12	 		 	Date:	 	8/20/12

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 ADDENDUM A 

PROJECT STATEMENT #3 – [*] SINGLE PORT PRODUCT 
  

 
  

	1.	 INCORPORATION INTO AGREEMENT 

Intel and Aquantia (the “Parties”) agree that this Project Statement #3 (“Project Statement”) will be attached to and incorporated
in the “Agreement” as Attachment Number #3. For purposes of this Project Statement #3, the “Agreement” means the Master Purchase Agreement between Intel Corporation and Aquantia Corporation dated January 15, 2009, as amended
to-date. The purpose of this Project Statement #3 is to set forth the terms and conditions under which Aquantia shall develop and deliver a 10GbE Single Port MAC/PHY device (“[*] Product”). The Parties agree that the date of this Project
Statement #3 shall be July 26, 2012. 
 Any changes to the specifications of [*] Single Port Product that are set forth in this Project Statement
#3 must be agreed to by the Parties in writing. 
  

	2.	 DEFINITIONS AND PRODUCT DESCRIPTION 

Aquantia shall modify [*], and create the [*] Single Port Product on [*] 40nm process. [*] Single Port Product shall be delivered as tested devices to
Intel. [*] Single Port Product is a Custom Item. 
  

	3.	 PRICING 

  

	3.1	[*] Units Purchase Price 

 Intel may purchase [*] at the pricing specified below. Intel
shall place purchase orders [*] units delivered to it in keeping with the purchase order terms specified in Sections 3 and 4 of the Master Purchase Agreement and the [*] Product Project Statement #1, except as noted in this document. 

Prompt payment will be computed from the latest of: 

[*]. 
  

	3.2	 [*]. 

Intel shall place an initial purchase order of [*] from Aquantia with an order quantity of [*] and the [*]. Following the initial order both parties
agree to use the [*]. The supply of [*] is dependent on [*]. As such the [*]. Intel agrees to work with Aquantia [*]. If [*], both parties shall mutually agree to [*]. These situations may require [*]. Such units will be [*]. 

The parties shall agree that [*]. 
  

	3.3	 Product Markings 

The [*] Single Port Product shall be marked as an lntel-branded device. Aquantia shall meet Intel’s requirements for Intel branded products as
required by Intel. 
  

	3.4	 End of Life 

Aquantia shall support [*] Single Port Product design and Intel manufacturing requirements to at least [*], with annual evergreen renewal. If Aquantia
needs to discontinue manufacture of [*] Single Port Product, Aquantia shall provide [*] notification of discontinuance of manufacturing [*] Single Port Product. 
 

 

	4.	 PROJECT MANAGEMENT 

The Parties agree to assign dedicated project managers, engineering managers, and other personnel to this project as specified below. The project
managers will exercise overall project responsibility for their respective Party: 
 Program and Engineering Project Managers 

 

									
	Party	  	Name	  	Title	  	Phone#	  	Email
	 	 	 	 	 
	
Intel
	  	[*]	  	[*]	  	[*]	  	[*]
	 	 	 	 	 
	
Intel
	  	[*]	  	[*]	  	[*]	  	[*]
	 	 	 	 	 
	
Intel
	  	[*]	  	[*]	  	[*]	  	[*]
	 	 	 	 	 
	
Intel
	  	[*]	  	[*]	  	[*]	  	[*]
	 	 	 	 	 
	
Intel
	  	[*]	  	[*]	  	[*]	  	[*]
	 	 	 	 	 
	
Intel
	  	[*]	  	[*]	  	[*]	  	[*]
	 	 	 	 	 
	
Aquantia
	  	[*]	  	[*]	  	[*]	  	[*]
	 	 	 	 	 
	
Aquantia
	  	[*]	  	[*]	  	[*]	  	[*]
	 	 	 	 	 
	
Aquantia
	  	[*]	  	[*]	  	[*]	  	[*]

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 In addition, when applicable, both Parties agree to assign cross-functional team members to the [*] Product
project. These members will include employees of each Party representing, but not limited to, the following functions or disciplines: 
 Analog Engineering (IO
cells, PHY, and noise analysis) 
 Applications Engineering 
 Board
Engineering 
 CAD Engineering (Layout, DRC) 
 Customer Support

 Digital Engineering (ASIC and CMOS micro-architecture) 
 Software
Engineering 
 Foundry Support 
 Manufacturing Test Engineering

 Marketing 
 Operations 

Packaging Engineering 
 Product Engineering 

Production Operations and Document Control 
 Quality & Reliability
Engineering 
 Silicon Validation 
  

	8	DESIGNATED PROJECT MANAGERS AND TECHNICAL POINTS OF CONTACT 

  

									
	For Aquantia:	 		 	For Intel:
			
	[*]	 		 	[*]
			
	AQUANTIA	 		 	INTEL CORPORATION
					
	By:	 	/s/ Faraj Aalaei	 		 	By:	 	/s/ Dawn Moore
			
	Printed Name: Faraj Aalaei	 		 	Printed Name: Dawn Moore
			
	Title: CEO	 		 	GM, LAN Access Division
					
	Date:	 	July 30, 2012	 		 	Date:	 	8/1/12

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 ATTACHMENT #1 TO PROJECT STATEMENT #3: [*] SINGLE PORT PRODUCT 

REQUIRED FEATURES OF THE [*] SINGLE PORT PRODUCT 
 Project
Summary: 
  

			
	 [*]
	  	
[*]

	
[*]
	  	 [*]

	
[*]
	  	 [*]

	
[*]
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[*]
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[*]
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[*]
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[*]
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 [*] 
  

									
	AQUANTIA	 		 	INTEL CORPORATION
					
	By:	 	/s/ Faraj Aalaei	 		 	By:	 	/s/ Dawn Moore
			
	Printed Name: Faraj Aalaei	 		 	Printed Name: Dawn Moore
			
	Title: CEO	 		 	GM, LAN Access Division
					
	Date:	 	July 30, 2012	 		 	Date:	 	8/1/12

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 ADDENDUM A 

PROJECT STATEMENT #4 – [*] 
  

	1.	 INCORPORATION INTO AGREEMENT 

Intel and Aquantia (the “Parties”) agree that this Project Statement #4 (“Project Statement”) will be attached to and incorporated
in the “Agreement” as Attachment Number #4. For purposes of this Project Statement #4, the “Agreement” means the Master Purchase Agreement between Intel Corporation and Aquantia Corporation dated January 15, 2009, as amended
to-date. The purpose of this Project Statement #4 is to set forth the terms and conditions under which Aquantia shall meet Intel [*] requirements and deliver the 10GbE Dual Port MAC/PHY device (“[*] Product”). The Parties agree that the
date of this Project Statement #4 shall be November 8, 2012. [*] 
 Any changes to the specifications of [*] Dual Port Product that are set forth
in this Project Statement #4 must be agreed to by the Parties in writing. 
  

	2.	 DEFINITIONS AND PRODUCT DESCRIPTION 

Aquantia shall [*] and deliver the [*] Product Project Statement #1 Dual Port device, according to the following mutually agreed schedule. 

In addition, Intel agrees [*]. 
  

	2.1	SCHEDULE 

					
	PRODUCT	  	PRODUCTION [*]	  	PURCHASE ORDER PLACEMENT
	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]

  

	2.2	PART NUMBERS 

															
	MM#  	  	Supplier Part #	  	Product	  	Top Marking	  	Spec#	  	Step	  	Description	  	Status & Media  
	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

	3.	DESIGNATED PROJECT MANAGERS AND TECHNICAL POINTS OF CONTACT 

  

									
	For Aquantia:	 		 	For Intel:
			
	[*]	 		 	[*]
			
	AQUANTIA	 		 	INTEL CORPORATION
					
	By:	 	/s/ Faraj Aalaei	 		 	By:	 	/s/ Dawn Moore
			
	Printed Name: Faraj Aalaei	 		 	Printed Name: Dawn Moore
			
	Title: CEO	 		 	GM, LAN Access Division
					
	Date:	 	11/14/2012	 		 	Date:	 	11/19/12

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 *ADDENDUM A 

PROJECT STATEMENT #5 – [*] 
  

 
  

	1.	INCORPORATION INTO AGREEMENT 

 Intel and Aquantia (the “Parties”) agree that this
Project Statement #5 (“Project Statement”) will be attached to and incorporated in the “Agreement” as Attachment Number #5. For purposes of this Project Statement #5, the “Agreement” means the Master Purchase Agreement
between Intel Corporation and Aquantia Corporation dated January 15, 2009, as amended to-date. The purpose of this Project Statement #5 is to set forth the terms and conditions under which Aquantia shall meet Intel [*] requirements and deliver
the 10GbE Dual Port MAC/PHY device (“[*] Product”). The Parties agree that the date of this Project Statement #5 shall be December 7, 2012. 

Any changes to the specifications of [*] Dual Port Product that are set forth in this Project Statement #5 must be agreed to by the Parties in writing.

  

	2.	DEFINITIONS AND PRODUCT DESCRIPTION 

 The purpose of this Addendum is to [*]. In order to
accomplish this, the Parties agree to the following: 
 Intel contributions: 

 

	•	 	 [*] in order to address issues of cash flow for Aquantia. 

 

	•	 	 Intel shall [*] for [*], to enable Aquantia to [*]. 

 

	•	 	 Intel agrees to [*]. Both parties will mutually agree to [*]. 

 

	•	 	 Intel agrees to [*]. Intel shall [*]. 

 

	•	 	 Intel shall [*] in order to [*]. 

Aquantia contributions 
  

	•	 	 Aquantia shall [*], according to the following mutually agreed Schedule and [*]. Both parties agree to [*].

  

	•	 	 For deliveries starting in [*], Aquantia shall [*]. Such [*] (per the Agreement). 

 

	•	 	 Aquantia agrees to [*]. 

In the event that Aquantia [*], and the Parties agree to [*]. If both parties [*], Intel shall [*]. 

2.1           SCHEDULE 

																	
	  	 	Dec	 	Jan	 	Feb	 	Mar	 	Apr	 	May	 	Jun	 	Total
	
[*]
	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	
[*]
	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	
[*]
	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	
[*]
	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]

 2.2           [*] Forecast Report 12/10/2012 

																													
	Product  	 	  Media  	 	JAN
’13	 	 FEB

’13
	 	 MAR

’13
	 	 APR

’13
	 	 MAY

’13
	 	 JUN

’13
	 	 JUL

’13
	 	 AUG

’13
	 	 SEP

’13
	 	 OCT

’13
	 	 NOV

’13
	 	 DEC

’13
	 	TOTAL
FORECAST
	
[*]
	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]

 
 2.3
          PART NUMBERS 

															
	MM#	 	Supplier Part #  	 	Product	 	Top Marking	 	Spec#	 	Step	 	Description	 	Status & Media
	
[*]
	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	
[*]
	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	
[*]
	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	
[*]
	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]

  

	3.	DESIGNATED PROJECT MANAGERS AND TECHNICAL POINTS OF CONTACT 

  

									
	For Aquantia:	 		 	For Intel:
			
	[*]	 		 	[*]
			
	AQUANTIA	 		 	INTEL CORPORATION
					
	By:	 	/s/ Faraj Aalaei	 		 	By:	 	/s/ Dawn Moore
			
	Printed Name: Faraj Aalaei	 		 	Printed Name: Dawn Moore
			
	Title: CEO	 		 	GM, LAN Access Division
					
	Date:	 	12/17/2012	 		 	Date:	 	1/16/13

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 ADDENDUM A 

PROJECT STATEMENT #6 — [*] 
  

 
  

	1.	INCORPORATION INTO AGREEMENT 

 Intel and Aquantia (the “Parties”) agree
that this Project Statement #6 (“Project Statement”) will be attached to and incorporated into the “Agreement” as Attachment Number #6. For purposes of this Project Statement #6, the
“Agreement” means the Master Purchase Agreement between Intel Corporation and Aquantia Corporation dated January 15, 2009, as amended to-date. The Parties agree that the date of this Project Statement #6 shall be July 10, 2013.

 Any changes to this agreement must be agreed to by both Parties in writing. 

 

	2.	 DEFINITIONS AND PRODUCT DESCRIPTION 

 

	2.1	 PRICE SCHEDULE AND PART NUMBERS 

The new [*] pricing schedule through Q4 2015 is agreed as follows 
  

																							
	Product  	 	MM#	 	 Q3

2013
	 	 Q4

2013
	 	 Q1

2014
	 	 Q2

2014
	 	 Q3

2014
	 	 Q4

2014
	 	 Q1

2015
	 	 Q2

2015
	 	 Q3

2015
	 	
Q4
 2015

	
[*]
	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]

  

	2.2	CONDITIONAL [*] PAYMENT STRUCTURE 

 Solely with respect to [*] unit prices made during the new [*]
pricing schedule listed above in section 2.1 the Parties have agreed to the conditional [*] payment structure. An [*] payment of [*] will be made by Intel to Aquantia on each [*] unit: [*] For clarity, while the intent is to ensure Aquantia receives
payment within [*] of the shipment of the Intel [*] where applicable, nothing is construed to make an objectively reasonable delay in payment of the [*] payment a material breach. 

This Report shall be treated as Intel Confidential information under Section 12 of the Agreement. For clarification, this does not require the
disclosure of the underlying Intel sales order to the Intel Customer. 
  

	3.	 FORECAST 

Intel shall, in good faith and due diligence, work to gain new customer business with [*] LOM Products based on the Price Schedule in Section 2.1
above. 
 Both Parties agree the forecast and new customer business are subject to change and is not a commitment. Aquantia understands that Intel
customer demand is dependent on market conditions and other factors beyond Intel’s control. This may result in demand being increased, reduced, or eliminated. 
  

	4.	 LEGAL EFFECT ON AGREEMENT 

All provisions of the Agreement shall remain in full force and effect. In the event of a conflict between this Amendment and the Agreement, this
Amendment shall take precedence. 

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 AMENDMENT
#             
 TO 

THE AGREEMENT 

BETWEEN 

INTEL AND AQUANTIA 

THIS AMENDMENT #            
(“Amendment”) to the Master Purchase Agreement between INTEL CORPORATION, a Delaware corporation, which includes its Affiliates, having its principal place of business at
2200 Mission College Boulevard, Santa Clara, California 95052, USA (“Intel”), and AQUANTIA CORPORATION, having its principal place of business at 700 Tasman Drive, Milpitas,
CA 95035 (“Aquantia”), referred to collectively as the “Parties” or each individually as “Party’. 

RECITALS 
  

	 	•	 	 Effective January 15, 2009, the Parties entered into a Technology Collaboration Agreement
(“Agreement”); 

  

	 	•	 	 The Parties now wish to amend the Agreement by incorporating a new Project Statement #6, attached to this Amendment.

 IN WITNESS WHEREOF, the Parties have caused this Sixth
Amendment to be executed by their respective corporate officers or agents. 
  

									
	FOR AQUANTIA:	 		 	FOR INTEL:
			
	[*]	 		 	 Dawn Moore
 General Manager - Network
Division

			
	AQUANTIA	 		 	INTEL CORPORATION
					
	By:	 	/s/ Faraj Aalaei	 		 	By:	 	/s/ Dawn Moore
			
	Printed Name: Faraj Aalaei	 		 	Printed Name: Dawn Moore
			
	Title: CEO	 		 	GM, Networking Division
					
	Date:	 	 	 		 	Date:	 	 

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 ADDENDUM A 

PROJECT STATEMENT #7 – [*] LEAD FREE QUALIFICATION 
  

	1.0	INCORPORATION INTO AGREEMENT 

 This Project [*] Lead Free Qualification is entered into by
and between Intel Corporation a Delaware corporation, having its principal place of business at 2200 Mission College Boulevard. Santa Clara, CA 95052, and its Affiliates (“Intel”), Aquantia Corporation, Inc., a California corporation
having its principal place of business at 700 Tasman Drive, Milpitas, CA 95035, and its Affiliates (“Aquantia”), effective as of the date of the last signature (the “Effective Date”). 

The parties agree that this Project Statement shall be attached to and incorporated in the “Agreement”, entered a certain Master Development,
Purchasing and License Agreement as of January 8, 2009 (the “Agreement”). For purposes of this Project Statement, the Agreement means the Master Purchase Agreement between Intel Corporation and Aquantia Corporation dated
January 15, 2009, as amended to- date (“Agreement”). The parties agree to this Project Statement to the Agreement to set forth terms and conditions under which Aquantia will provide a framework
for managing the activities used by both parties in order to perform the required tasks to successfully have the [*] lead Free product qualified, investigate all failures, implement appropriate corrective actions, and to pursue continuous
improvements The parties agree that any work related to this Project Statement, even if commenced by the parties prior to the Effective Date, is covered by the terms of this Project Statement. 

The terms and conditions of the Agreement are incorporated herein by reference. To the extent the terms and conditions of this Project Statement #1
conflict with the Agreement, this Project Statement will govern. Capitalized terms used herein, but not defined in this Project Statement will have the meanings set forth in the Agreement. 

Any changes to the specifications of the [*] Product that are set forth in this Project Statement must be agreed to by the parties in writing. 

 

	2.0	[*] SCHEDULES 

  

	2.1	Intel Corporation will [*] listed in Table A as required for the [*]. Intel Corporation shall [*]. 

  

	3.0	[*] PAYMENT STRUCTURE 

  

	3.1	Refer to the section 2.2 of Amendment #6 

 Table A 

 

			
	Activities	  	Qualification Costs
	[*]	  	[*]
	[*]	  	[*]
	[*]	  	[*]
	[*]	  	[*]
	[*]	  	[*]

 Schedule A 
  

			
	Activities	  	Total PO Cost
	[*]	  	[*]

 Schedule B 
  

			
	Payment Milestone	  	QA Payment
	[*]	  	[*]
	[*]	  	[*]

 
  

	4.0	[*] SCHEDULE 

  

																							
	Sept-14	  	Oct-14	  	Nov-14	  	Dec-14	  	Jan-15	  	Feb-15	  	Mar-15	  	Apr-15	  	May-15	  	Jun-15	  	Jul-15	  	Aug-15
	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	[*]	  	 	  	[*]	  	 	  	 	  	[*]	  	[*]
	 	  	 	  	[*]	  	[*]	  	 	  	 	  	[*]	  	[*]	  	 	  	 
	 	  	 	  	[*]	  	[*]	  	 	  	[*]	  	[*]	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	[*]	  	[*]	  	 	  	[*]	  	[*]	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	[*]	  	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 
	 	  	 	  	 	  	[*]	  	 	  	 	  	 	  	 	  	 	  	 	  	 	  	 

  

									
	Aquantia Corporation	 		 	INTEL CORPORATION
					
	By:	 	/s/ Faraj Aalaei	 		 	By:	 	/s/ Dawn Moore
			
	Printed Name: Faraj Aalaei	 		 	Printed Name: Dawn Moore
					
	Title:	 	CEO	 		 	Title:	 	General Manager, Networking Division
					
	Date:	 	9/26/14	 		 	Date:	 	9/25/2014

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 ADDENDUM A 

PROJECT STATEMENT #6 – [*] PRODUCT 
  

 
  

	1.0	INCORPORATION INTO AGREEMENT 

 This [*] Project Statement #6 (“Project Statement”) is
entered into by and between Intel Corporation a Delaware corporation, having its principal place of business at 2200 Mission College Boulevard, Santa Clara, CA 95052, and its Affiliates (“Intel”), Aquantia Corporation, Inc., a California
corporation having its principal place of business at 700 Tasman Drive, Milpitas, CA 95035, and its Affiliates (“Aquantia”), hereinafter collectively referred to as (the “Parties”). The effective date of this Project Statement #6
is the date of the last signature (the “Effective Date”). 
 The Parties agree that this Project Statement shall be attached to and
incorporated in the Agreement. For purposes of this Project Statement, the Agreement means the Master Purchase Agreement between Intel Corporation and Aquantia Corporation dated January 15, 2009, as amended to-date (“Agreement”). 

Any changes to the specifications of the [*] Product that are set forth in this Project Statement shall be agreed to by the Parties in writing. If any
terms in the Agreement and the other previous amendments conflict with any terms in this Project Statement, the terms in this Project Statement shall govern regarding the subject matter herein. 

 

	2.0	 PURPOSE 

The purpose of this Project Statement is to set forth the terms and conditions under which Aquantia shall qualify and label Intel-branded single, dual
and quad port 10GBASE-T PHY devices based upon Aquantia’s 28nm Aspen standard 10GBASE-T product line (“[*] Product”). 
  

	3.0	 DEFINITIONS AND PRODUCT DESCRIPTION 

Aquantia shall qualify and label Intel-branded single, dual and quad port 10GBASE-T PHY based upon Aquantia’s Aspen standard 10GBASE-T product line
to create the [*] Product on [*] 28nm process. The product features, packaging and interface specifications shall remain unchanged relative to the current 28nm Aspen standard product offering. Product packages shall include 3 SKUs. The quad port SKU
are housed in a 25x25mm 576 Ball FCBGA package and the dual and single port devices will be housed in pin compatible 19x19mm 324 Ball FCBGA packages. Intel and Aquantia shall agree upon a Qualification Schedule that meets Intel’s PRQ
(Production Release Qualification) specifications. 
  

	3.0	TECHNICAL REQUIREMENTS 

	3.1	The [*] Product includes [*]. 

  

	3.1	Features list 

  

							
	
Description
	  	 Vendor Response

Quad Port
	  	Vendor Response
Dual Port	  	Vendor Response
Single Port
	
Packaging and SKUs
	  	 	  	 	  	 
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	 	  	 	  	 	  	 
	
MAC Interface Options and System Support
	  	 	  	 	  	 

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

							
	 [*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	 	  	 	  	 	  	 
	
Line Side BASE-T Interface
	  	 	  	 	  	 
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]
	
[*]
	  	[*]	  	[*]	  	[*]

  

	3.2.1	 Power features include: [*]. 

 

	3.2.2	 Test, manufacture, and support features include: [*]. 

 

	4.0	 PRICING 

  

	4.1	 Sample and/or Prototype Units. Upon availability and prior to [*] or other dates subsequently agreed to by the
Parties, Intel may purchase sample or prototype units of [*] Product from Aquantia as follows: 

  

	 	4.1.1	 Aquantia shall provide [*] cumulative sample and/or prototype units to Intel at [*]. Intel may purchase additional
samples as follows: [*]. 

 
  

	4.2	 [*] Units Purchase Price. Intel may purchase [*] at the pricing specified below following its delivery to
Aquantia of Intel’s written confirmation that [*] Product has received [*]. Following such notice Intel shall place purchase orders at [*] units delivered to it in keeping with the purchase order terms specified in Sections 3 and 4 of the
Agreement. 

  

	4.3	 Prompt payment shall be computed from the latest of: [*]. 

 

	4.4	 The [*] Schedule below is [*] and is based on [*]. 

[*] Schedule 
  

							
	Year	 	Quad	 	Dual	 	Single
	
[*]
	 	[*]	 	[*]	 	[*]
	
[*]
	 	[*]	 	[*]	 	[*]
	
[*]
	 	[*]	 	[*]	 	[*]
	
[*]
	 	[*]	 	[*]	 	[*]
	
[*]
	 	[*]	 	[*]	 	[*]
	
[*]
	 	[*]	 	[*]	 	[*]

 [*]. 
  

	5.0	NRE PAYMENT. 

  

	5.1	Payment: Intel shall pay [*]. The $/unit is [*] for all skus. This adder is in addition to the UP Schedule in Section 4.4. 

  

	5.2	[*]. 

  

	5.3	[*]. 

  

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

	5.4	 Prior to the delivery of prototypes, Intel may cancel the design and engineering work under the SOW for the [*] Product
by written notice to Aquantia, whereupon Aquantia shall cease work in connection with the Product. 

  

	6.0	DEFINITIONS 

  

			
	1000BASE-CX	 	IEEE 802.3z Gigabit Ethernet Standard for short haul copper (up to 25m).
	1000BASE-LX	 	IEEE 802.3z Gigabit Ethernet Standard using long wavelength (1300nm) laser, typically over Single mode Fiber.
	1000BASE-SX	 	IEEE 802.3z Gigabit Ethernet Standard using short wavelength (850nm) laser, typically over Multi-mode Fiber.
	1000BASE-T	 	IEEE 802.3ab Gigabit Ethernet Standard Physical Layer definition for long haul copper (up to 100m) over 4 pair of Category 5 balanced copper
cabling.
	10GBASE-T	 	IEEE 802.3an
	802.3ab	 	IEEE standard that defines 1000BASE-T.
	802.3u	 	IEEE standard that defines 100BASE-TX.
	802.3z	 	IEEE standard that defines 1000BASE-CX, 1000BASE-LX, 1000BASE-SX.
	 	 	 
	AFE	 	Analog Front End that converts digital signals to analog for input and output on physical interface.
	AoL	 	Alert-on-LAN.
	ASF	 	Alerting Standards Form.
	BRD	 	The library format for Cadence Allegro PCB designs
	CTE	 	Cold Temperature Elimination – a method to eliminate the need of testing at cold temperature at high volume production, while still
achieving quality / reliability requirements.
	DB	 	The library format of Synopsys synthesis libraries.
	DFT	 	Design For Testability.
	 	 	 
	DRC	 	Design Rule Check.
	DSP	 	Digital Signal Processor.
	EEPROM	 	Electrically Erasable Programmable Read Only Memory.
	EEE	 	Energy Efficient Ethernet
	GMAC	 	Gigabit MAC.
	GMII	 	Gigabit Media Independent Interface.
	GPIO	 	General Purpose Input/Output. This is a software controllable input/output pin/pad.
	HDL	 	Hardware Description Language.
	HSPICE	 	Industry standard models for package, analog, circuit simulation.
	IAS	 	Integration Architecture Specification – is the overall system specification for Barton Hills-LM/LC and shall be the reference point for
all functions and features.
	IBIS	 	An industry standard simulation / signal characterization model of IOs.
	IO	 	Input/Output. Typically refers to a silicon pin/pad.
	LOM	 	LAN-on-Motherboard.
	LVS	 	Layout Versus Schematic.
	MAC Controller	 	The logic that provides the MAC function along with DMA and a host interface (e.g. PCI).
	Modelsim	 	Model Technology’s HDL simulator product.
	PDT	 	Intel and AQUANTIA Joint Program Development Team.
	PHY	 	Physical Layer Device. The device/block that implements the AFE.
	POR	 	Plan of Record.
	PPS & PRQ	 	There are two qualification levels designed to meet Intel’s and its customers’ product introduction and production ramp needs,
Pre-Production Samples (PPS) and Production Release Qualification (PRQ). PPS supports the unique and varied demands our businesses have in shipping limited quantities of customer qualification samples. At PRQ, Intel’s objective is to ship
unlimited quantity of commercial products that meet the Q&R requirements and are supported by the applicable Intel warranty agreements.
	SerDes	 	Serializer-Deserializer connection used in Backplane or to other Ethernet device or connection using high speed serial electrical interface,
such as – 10GBase-KR, Serial Gigabit Media Independent interface (SGMII), XFI, and RXUAI.

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

			
	SKU	 	Stock Keeping Unit.
	Synopsys	 	Synthesis tool company.
	VCS	 	Synopsys’s HDL simulator product.
	Verilog	 	An industry standard HDL language.
	XAUI	 	High speed 10 Gigabit Attachment Unit Interface (RXAUI denotes reduced pin count)
	XFI	 	10Gb Framer Interface
	ZOBI	 	Zero-Hours-Burn-In a method to eliminate the need of burn-in at high volume production while still achieving quality / reliability
requirements.

  

	7.0	PROJECT MANAGEMENT 

 The Parties agree to assign dedicated project managers,
engineering managers, and other personnel to this project as specified below. The project managers shall exercise overall project responsibility for their respective Party: 

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 Program and Engineering Project Managers 

 

									
	Party	  	Name	  	Title	  	Phone #	  	Email
	Intel	  	[*]	  	[*]	  	[*]	  	[*]
	Intel	  	[*]	  	[*]	  	[*]	  	[*]
	Intel	  	[*]	  	[*]	  	[*]	  	[*]
	Intel	  	[*]	  	[*]	  	[*]	  	[*]
	Intel	  	[*]	  	[*]	  	[*]	  	[*]
	Intel	  	[*]	  	[*]	  	[*]	  	[*]
	Aquantia	  	[*]	  	[*]	  	[*]	  	[*]
	Aquantia	  	[*]	  	[*]	  	[*]	  	[*]
	Aquantia	  	[*]	  	[*]	  	[*]	  	[*]

 In addition, when applicable, both Parties agree to assign cross-functional team members to the [*] Product project.
These members shall include employees of each Party representing, but not limited to, the following functions or disciplines: 
 Analog Engineering
(IO cells, PHY, and noise analysis) 
 Applications Engineering 

Board Engineering 
 CAD Engineering (Layout,
DRC) 
 Customer Support 
 Digital
Engineering (ASIC and CMOS micro-architecture) 
 Software Engineering 

Foundry Support 
 Manufacturing Test
Engineering 
 Marketing 
 Operations

 Packaging Engineering 
 Product
Engineering 
 Production Operations and Document Control 

Quality & Reliability Engineering 

Silicon Validation 
  

	8.0	 TERMINATION 

  

	 	8.1	 [*] Product project cancellation by Intel for convenience: Any other section of the Agreement notwithstanding, Intel may
terminate this Project Statement for convenience at any time by written notice to Aquantia. In such cases, the cancellation penalties in the amount of [*] Payment, shall apply. 

 

	 	8.2	 [*] Product project cancellation by Aquantia for convenience: Aquantia may not terminate this Project Statement for
convenience. 

  

	9.0	 INTELLECTUAL PROPERTY AND MARKING 

 

	 	9.1	 Definitions 

  

	 	9.1.1	 “Aquantia Field of Use” means (i) physical layer (“PHY”) technology for Ethernet networking
technologies, circuit design, modeling and process design methodologies, programs and flows that do not fall within the Intel Field of Use and are not otherwise based in any way on Intel Confidential Information, (ii) dynamic back biasing
technology that does not fall within the Intel Field of Use and is not otherwise based in any way on Intel Confidential Information; and (iii) additional technology, if any, expressly identified in the Project Statement. 

 

	 	9.1.2	 “Background IP” means all Intellectual Property and Patents belonging to or controlled by either Party,
(i) developed, conceived, obtained or acquired prior to the Effective Date of the Agreement or (ii) developed, conceived, obtained or acquired independently of the Agreement or not as part of the approved Project Statement.

  

	 	9.1.3	 “Intel Field of Use” means [*] 

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

	 	9.1.4	 “Intellectual Property” means any and all intellectual property rights including all of the following and all
rights in, arising out of, or associated therewith: (i) procedures, designs, inventions, and discoveries; (ii) works of authorship, copyrights and other rights in works of authorship; (iii) mask work rights, and (iv) know-how,
show-how and trade secrets on a worldwide basis, but excluding all Patents issued or issuable thereon, and all trademarks, trade names, or other forms of corporate or product identification. 

 

	 	9.1.5	 “Patents” means all classes or types of patents (including, without limitation, originals, divisions,
continuations, continuations-in-part, extensions, renewals, reexaminations, or reissues), and applications for these classes or types of patent rights in all countries of the world (collectively, “Patent Rights”) that are owned or
controlled by the applicable Party during the term of the Agreement. 

  

	 	9.1.6	 “Patent Prosecution” means (i) preparing, filing and prosecuting patent applications (of all types),
(ii) maintaining any Patents, and (iii) managing interference, reexamination or opposition proceedings relating to the foregoing. 

  

	 	9.1.7	 “Project” means the development of [*] Product during the term of this Project Statement as part of an
approved Project Statement. 

  

	 	9.1.8	 “Project IP” means all Intellectual Property and Patents developed or conceived under this Project Statement
by one Party or both Parties as part of an approved Project Statement to develop [*] Products. Project IP does not include the Background IP of either Party. 

 

	 	9.2	 INTELLECTUAL PROPERTY AND PATENT OWNERSHIP 

 

	 	9.2.1	 Background IP. As between the Parties, Intel shall have exclusive ownership of Intel’s Background IP, and Aquantia
shall have exclusive ownership of Aquantia’s Background IP. 

  

	 	9.2.2	 Any and all Project IP that falls within the Aquantia Field of Use, whether solely or jointly developed, and all mask
work rights that are part of the Project IP, shall be owned solely by Aquantia (“Aquantia Owned IP”). Intel hereby assigns to Aquantia all of the Project IP developed or co-developed by Intel pursuant to this Project Statement that falls
within the Aquantia Field of Use. Any and all Project IP that falls within the Intel Field of Use, whether solely or jointly developed, and all mask work rights that are part of the Project IP that falls within the Intel Field of Use shall be owned
solely by Intel (“Intel Owned IP”). Aquantia hereby assigns to Intel all of the Project IP developed or co-developed by Aquantia pursuant to this Project Statement that falls within the Intel Field of Use. 

 

	 	9.2.3	 Any Project IP that does not fall within either the Intel Field of Use or the Aquantia Field of Use that is solely
conceived by employees of one Party as part of the Project without any contribution, individually or jointly, of employees of the other Party shall be owned solely by the Party whose employees conceived such Project IP. Any jointly-created Project
IP which does not fall within the Aquantia Filed of Use or the Intel Field of Use will be owned as provided for in the following Sections. 

  

	 	9.2.4	 Subject to the licenses granted in this Project Statement and upon the express written approval of the other Party,
either Party may at its sole expense file a Patent and carry out Patent Prosecution on any jointly developed out-of-field Project IP and the non-filing Party shall assign and hereby does assign to the filing Party all of its ownership interest in
such Joint Out-of-Field Project IP and agrees to execute further instruments necessary for Patent Prosecution as reasonably requested by the filing Party. 

  

	 	9.2.5	 In the event either Party is unable to obtain the expressed written approval of the other Party, such Joint Out-of-Field
Project IP shall be kept as a jointly-owned trade secret. 

  

	 	9.3	 MASKWORKS 

  

	 	9.3.1	 Sections 9.2.1 and 9.2.2 of this Project Statement notwithstanding, Aquantia shall own the mask works for the [*]
Product (each referred to as “Mask Works”). 

 
  

	 	9.4	 LICENSING 

  

	 	9.4.1	 Aquantia grant to Intel. Subject to the terms of the Agreement, Aquantia hereby grants to Intel a royalty-free,
non-exclusive, nontransferable, non-sub licensable (except as expressly provided herein), 

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

	 	 
irrevocable, worldwide license under Aquantia-owned Project IP and Aquantia Background IP used in the development of the [*] Product to: 

 

	 	9.4.1.1	 use and import and directly or indirectly sell, offer to sell and otherwise dispose of [*] Product;

  

	 	9.4.1.2	 use [*] Product, and to use, make, have made, sell, offer to sell and import Intel products that incorporate or are
otherwise adapted to operate with [*] Product. Intel shall further have the right to extent to direct or indirect customers of Intel a license under all of Aquantia’s Patent rights in the [*] Product to use, sell, offer to sell or import Intel
products that incorporate or are otherwise adapted to operate with [*] Product. 

  

	 	9.4.2	 API License. In addition to the licenses set forth above, Aquantia further grants to Intel a royalty free,
non-exclusive, irrevocable, worldwide license to copy, display, perform, create derivative works and distribute Aquantia’s API software which shall be provided in both object and source code form and which is more fully described in Attachment
#2. 

  

	 	9.4.3	 Intel grant to Aquantia. Commencing at the time Aquantia makes the first commercial sale to Intel of the [*] Product and
expiring at the time of the last commercial sale to Intel, Intel hereby grants to Aquantia a royalty-free, non-exclusive, nontransferable, non-sub licensable, revocable, worldwide license under Intel-owned Patent Rights that read on technology owned
by Intel within the Intel Field of Use (and only for technology that is provided to Aquantia under this Project Statement) to make the [*] Products solely for the benefit of Intel; and sell the [*] Product only to Intel. Aquantia may only provide or
transfer the [*] Product to Intel. Intel grants Aquantia no other licenses or other rights including, but not limited to, patent, copyright, trademark, trade name, service mark or other intellectual property licenses or rights with respect to the
[*] Product, by implication, estoppel or otherwise, except for the licenses expressly granted in this section. 

  

	 	9.4.4	 The Parties acknowledge that nothing in the foregoing is intended to restrict Aquantia from testing and validating the
[*] Products to the extent necessary for the purpose of fulfilling its obligations under the Agreement. 

  

	 	9.5	 CONTINUITY OF SUPPLY 

  

	 	9.5.1	 Forecast and Manufacturing Cycle Time 

 

	 	9.5.1.1	 Intel shall provide Aquantia with a rolling [*] forecast per the Agreement (“Forecast”) and both Aquantia and
Intel shall mutually agree to [*] for the Aquantia manufacturing cycle which is to be used to [*]. 

  

	 	9.5.1.2	 Aquantia’s manufacturing cycle time (“Manufacturing Cycle Time” or “MCT”) is [*]. PO’s to
be place by 10th of each month. 

  

	 	9.5.1.3	 Maximum expedite charge should not exceed [*]. 

 

	 	9.5.1.4	 [*]. 

  

	 	9.5.2	 Subject to the terms of the Agreement, Aquantia grants to Intel a worldwide, nonexclusive, nontransferable, perpetual,
irrevocable license to manufacture, or have manufactured, use and import and directly or indirectly sell, offer to sell and otherwise dispose of [*] Product as limited in this Section 9.5. Intel covenants and agrees that it shall have the
option to exercise the rights granted pursuant to this Section 9.5.2 upon the occurrence of one or more of the Trigger Events set forth in Section 9.5.2.1 below. 

 

	 	9.5.2.1	 A “Trigger Event” is any one of the following events (each, a “Trigger Event”): [*].

  

	 	9.5.2.2	 [*]. 

  

	 	9.5.3	 [*]. 

  

	 	9.5.4	 [*]. 

  

	 	9.5.5	[*]. 

  

	 	9.6	Product Markings. The [*] Product shall be marked as an Intel-branded device. Aquantia shall meet Intel’s requirements for Intel branded products as required by Intel. 

 

	 	9.7	End of Life. Aquantia shall support [*] design and Intel manufacturing requirements to at least [*], with annual evergreen renewal. If Aquantia needs to discontinue manufacture of [*] product, Aquantia shall
provide [*] notification of discontinuance of manufacturing [*] product. 

  

	 	9.8	[*]. 

	 	

	 	9.8.1	Intel to [*]. 

  

	 	9.8.2	This [*] is contingent upon [*] as called out in attachment #1. 

  

	 	9.8.3	If Intel [*], Intel to [*]. If Intel [*], then Intel will [*]. 

  

	 	9.8.4	For [*] other than described in 9.8.1, Intel agrees to [*], however, if an Intel customer [*]. 

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

	 	9.8.5	Applies to all general releases of software drivers and Intel firmware. 

 DESIGNATED PROJECT MANAGERS
AND TECHNICAL POINTS OF CONTACT 
  

									
			
	AQUANTIA:	 		 	INTEL:
			
	[*]	 		 	[*]
			
	AQUANTIA	 		 	INTEL CORPORATION
					
	By:	 	/s/ Faraj Aalaei	 		 	By:	 	/s/ Dawn Moore
			
	Printed Name: Faraj Aalaei	 		 	Printed Name: Dawn Moore
			
	Title: CEO	 		 	General Manager, Networking Division
					
	Date:	 	1/16/15	 		 	Date:	 	Jan 22, 2015

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 ATTACHMENT #1 TO PROJECT STATEMENT #6: 

REQUIRED FEATURES OF THE [*] PRODUCT 
 The product features,
packaging and interface specifications shall [*]. 
 In addition to these datasheets contents, below we have called out some specific requirements that go beyond the
current content of the respective datasheets referenced above. 
 Table 1: [*] 

 

											
	 	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	
[*]
	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	
[*]
	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	
[*]
	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	
[*]
	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	
[*]
	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]
	
[*]
	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]

 [*]. 

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

									
	AQUANTIA	 		 	INTEL CORPORATION
					
	By:	 	/s/ Faraj Aalaei	 		 	By:	 	/s/ Dawn Moore
			
	Printed Name: Faraj Aalaei	 		 	Printed Name: Dawn Moore
			
	Title: CEO	 		 	GM, LAN Access Division
					
	Date:	 	1/16/15	 		 	Date:	 	Jan. 22, 2015

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 ATTACHMENT #2 TO [*] PRODUCT PROJECT STATEMENT #6 

STATEMENT OF WORK (“SOW”) 
 This
Attachment #2 describes Key Milestones, deliverables and required dates throughout the Project. All subsequent changes or additions to these milestones. deliverables and dates are subject to ratification by Intel and Aquantia in meetings held by the
Program Managers at Intel and Aquantia, and recorded In the Meeting Minutes and Project Schedule. 
 Aquantia Deliverables and Milestones 

The table below represents a summary of the Aquantia & Intel deliverables, milestones, and associated deliver dates. [*]. Each milestone is briefly defined in the
section below the table. 
  

					
	Milestone	  	Owner 	  	Date
	 	  	 	  	(commit)
	
[*]
	  	Aquantia	  	[*]
	
[*]
	  	Aquantia	  	[*]
	
[*]
	  	Aquantia	  	[*]
	
[*]
	  	Aquantia	  	[*]
	
[*]
	  	Aquantia	  	[*]
	
[*]
	  	Aquantia	  	[*]
	
[*]
	  	Intel	  	[*]
	
[*]
	  	Aquantia	  	[*]
	
[*]
	  	Aquantia	  	[*]
	
[*]
	  	Intel	  	[*]
	
[*]
	  	Aquantia	  	[*]
	
[*]
	  	Aquantia	  	[*]
	
[*]
	  	Aquantia	  	[*]
	
[*]
	  	Aquantia	  	[*]
	
[*]
	  	Intel	  	[*]
	
[*]
	  	Intel	  	[*]
	
[*]
	  	Intel	  	[*]
	
[*]
	  	Intel	  	[*]
	
[*]
	  	Intel	  	[*]

 Note: [*]. 
 [*]: 

 

			
	[*]	 	Owner
	
[*]
	 	Aquantia
	
[*]
	 	Aquantia
	
[*]
	 	Aquantia
	
[*]
	 	Aquantia
	
[*]
	 	Aquantia
	
[*]
	 	Aquantia
	
[*]
	 	Aquantia
	
[*]
	 	Aquantia
	
[*]
	 	Aquantia
	
[*]
	 	Intel
	
[*]
	 	Intel
	
[*]
	 	Intel

 [*1 page*] 
  

									
	AQUANTIA	 		 	INTEL CORPORATION
					
	By:	 	/s/ Faraj Aalaei	 		 	By:	 	/s/ Dawn Moore
			
	Printed Name: Faraj Aalaei	 		 	Printed Name: Dawn Moore
			
	Title: CEO	 		 	GM, LAN Access Division
					
	Date:	 	1/16/15	 		 	Date:	 	Jan. 22, 2015

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 ATTACHMENT #3 TO [*] PRODUCT PROJECT STATEMENT #6 

QUALITY AND RELIABILITY CONFORMANCE REQUIREMENTS 

SAMPLE SIZE MAY CHANGE PER RISK ASSESSMENT 
 These Q&R
requirements may be adjusted, upon due consideration by both Intel and Aquantia at a peer-to-peer level, or by formal re-negotiation and written acceptance, if so required. 

[*]. 
 [*] Requirements [*]: 

 

					
	Stress	  	[*] Requirement [*]	  	Notes
	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]
	[*]	  	[*]	  	[*]

 [*] Requirements 
 [*] 

 

											
	Stress	 	Lots Total	 	Units/Lot	  	QS Requirement	  	PRQ Requirement	  	Notes
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]

 
 [*] 

 

											
	Stress	 	Lots Total	 	Units/Lot	  	QS Requirement	  	PRQ Requirement	  	Notes
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]

 [*] 
  

											
	Stress	 	Lots Total	 	Units/Lot	  	QS Requirement	  	PRQ Requirement	  	Notes
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]
	[*]	 	[*]	 	[*]	  	[*]	  	[*]	  	[*]

 
 Notes: 

[*6 pages*] 
 Receivables Deliverables 

 

							
	Deliverable	  	Delivered By	  	Received by	  	Due
	[*]	  	 Aquantia
	  	 Intel
	  	[*]
	[*]	  	 Intel
	  	 Aquantia
	  	[*]
	[*]	  	 Aquantia
	  	 Intel
	  	[*]
	[*]	  	 Aquantia
	  	 Intel
	  	[*]
	[*]	  	 Aquantia
	  	 Intel
	  	[*]
	[*]	  	 Aquantia
	  	 Intel
	  	[*]
	[*]	  	 Aquantia
	  	 Intel
	  	[*]
	[*]	  	 Aquantia
	  	 Intel
	  	[*]
	[*]	  	 Aquantia
	  	 Intel
	  	[*]
	[*]	  	 Aquantia
	  	 Intel
	  	[*]
	[*]	  	 Aquantia
	  	 Intel
	  	[*]

 These are Q&R requirements may be adjusted, upon due consideration by both Intel and Aquantia at a peer-to-peer
level, or by format re-negotiation and written acceptance, if so required. 
  

									
	AQUANTIA	 		 	INTEL CORPORATION
					
	By:	 	/s/ Faraj Aalaei	 		 	By:	 	/s/ Dawn Moore
			
	Printed Name: Faraj Aalaei	 		 	Printed Name: Dawn Moore
			
	Title: CEO	 		 	GM, LAN Access Division
					
	Date:	 	1/16/15	 		 	Date:	 	Jan 22, 2015

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 ATTACHMENT #4 TO [*] PROJECT STATEMENT #6 

HVM Requirements and Customer return support 
 [*] 

 

							
	 [*]
	 	[*]	 	[*]	 	[*]
	
[*]
	 	[*]	 	[*]	 	[*]
	
[*]
	 	[*]	 	[*]	 	[*]
	
[*]
	 	[*]	 	[*]	 	[*]
	
[*]
	 	[*]	 	[*]	 	[*]
	
[*]
	 	[*]	 	[*]	 	[*]

  

									
	AQUANTIA	 		 	INTEL CORPORATION
					
	By:	 	/s/ Faraj Aalaei	 		 	By:	 	/s/ Dawn Moore
			
	Printed Name: Faraj Aalaei	 		 	Printed Name: Dawn Moore
			
	Title: CEO	 		 	GM, LAN Access Division
					
	Date:	 	1/16/15	 		 	Date:	 	Jan 22, 2015

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 ATTACHMENT #5 TO [*] PROJECT STATEMENT #6 

Test Requirement 
 [*5 pages*] 

 

									
	AQUANTIA	 		 	INTEL CORPORATION
					
	By:	 	/s/ Faraj Aalaei	 		 	By:	 	/s/ Dawn Moore
			
	Printed Name: Faraj Aalaei	 		 	Printed Name: Dawn Moore
			
	Title: CEO	 		 	GM, LAN Access Division
					
	Date:	 	1/16/15	 		 	Date:	 	Jan 22, 2015

  

	[*] =	CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY
BRACKETS, IS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO
RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 

 AMENDMENT #1 

TO THE AGREEMENT BETWEEN 
 INTEL AND
AQUANTIA 
 Intel Corporation (“Intel”) and Aquantia Corp. (“Aquantia”) entered into a Master Purchase Agreement dated
January 15, 2009 which has been amended from time-to-time (the “Agreement”). On July 10, 2013, the parties entered into that certain Project Statement #6—[*] Payment (“Project Statement #6”). The parties now seek to enter
into this Amendment #1 (“Amendment #1”) in order to modify Project Statement #6 as follows as of January 1, 2016 (“Effective Date”): 

	 	1.	 Extension of Price Schedule. Section 2.1 of Project Statement #6 is deleted in its entirety and replaced
with the following: 

  

	 	    	 2.1 PRICE SCHEDULE AND PART NUMBERS 

	 	    	 The new [*] pricing schedule through September 30, 2016 (“End Date”) is agreed as follows:

																													
	Product	 	MM#	 	 Q3

2013
	 	 Q4

2014
	 	 Q1

2014
	 	 Q2

2014
	 	 Q3

2014
	 	 Q4

2014
	 	 Q1

2015
	 	 Q2

2015
	 	 Q3

2015
	 	 Q4

2015
	 	 Q1

2016
	 	 Q2

2016
	 	 Q3

2016

	 														 
	
[*]
  
	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]	 	[*]

  

	 	2.	 No other changes. Except as otherwise stated in this Amendment #1, all terms and conditions of the
Agreement shall remain in full force and effect through the End Date. All terms herein shall have the same meaning as in the Agreement unless otherwise defined in this Amendment #1. 

Each party has caused this Amendment #1 to be signed by its duly authorized representative. 

 

					
	Aquantia Corp.	 		 	Intel Corporation
			
	/s/ Kamal Dalmia	 		 	/s/ Stephen Schultz
	Signature	 		 	Signature
			
	Kamal Dalmia	 		 	Stephen Schultz
	Printed Name	 		 	Printed Name
			
	SVP Sales & Mktg	 		 	General Manager, Networking Division
	Title	 		 	Title
			
	10/27/16	 		 	November 1, 2016
	Date	 		 	Date

  
 [*] =
CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, IS
FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF
THE SECURITIES ACT OF 1933, AS AMENDED. 

 ATTACHMENT #8 TO PROJECT STATEMENT #1 

 

	1.	INCORPORATION INTO AGREEMENT 

 Intel and Aquantia (the “Parties”) agree
that this Attachment #8 (“Attachment”) will be attached to and incorporated into the Project Statement #1 of Addendum A of the Master Purchase Agreement between Intel Corporation and Aquantia Corp. dated January 15, 2009, as amended to
date (“Agreement”). The terms of this Addendum supersede any and all other terms entered into as they relate to pricing in both “Project Statement #1 – [*] Product”, dated January 15, 2009 and “Project Statement #6
– [*] Payment,” dated July 10, 2013. The parties have agreed pricing for the [*] product through September 30, 2016 and now desire to document their agreed pricing for units purchased from October 1, 2016 through December 31, 2020. The
effective date of this Attachment is the date signed by the second signing party (“Effective Date”). 
 Any changes to this
Attachment must be agreed to by both Parties in writing. 

	2.	PRODUCT AND PRICING DESCRIPTION 

 The new [*] pricing is agreed to as follows: 

 

							
	 	 	 	 
	  	 	 2016 (Oct-Dec)
  
	 	2017	 	2018-2020
	 	 	 	 
	 [*]

 
	 	[*]	 	[*]	 	[*]

	2.	FORECAST 

 This Attachment is not dependent upon volumes, forecasts, or other market conditions,
and is not a commitment to purchase any set unit quantity. 
 [Signature page follows] 

AGREED AND ACCEPTED: 
  

									
	Intel Corporation:	 		 	Aquantia Corp.
					
	By:	 	/s/ Stephen Schultz	 		 	By:	 	/s/ Kamal Dalmia

									
					
	Print Name:	 	Stephen Schultz	 		 	Print Name:	 	Kamal Dalmia

									
					
	Title:	 	General Manager, Networking Division	 		 	Title:	 	SVP Sales & Mktg

									
					
	Date:	 	November 1, 2016	 		 	Date:	 	10/27/16

  
 [*] =
CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, IS
FILED WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF
THE SECURITIES ACT OF 1933, AS AMENDED.EX-4.2

 Exhibit 4.2 

Execution Version 

TRUST SUPPLEMENT NO. 2017-2B 

Dated as of October 5, 2017 

between 
 AMERICAN AIRLINES, INC.,

 and 
 WILMINGTON TRUST
COMPANY, 
 as Trustee, 
 to

 PASS THROUGH TRUST AGREEMENT 

Dated as of September 16, 2014 

American Airlines Pass Through Trust 2017-2B 

American Airlines Pass Through Certificates, Series 2017-2B 

  

					
		 		  	 Trust Supplement No. 2017-2B

American Airlines Aircraft EETC

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
		
	 ARTICLE I DEFINITIONS
	  	 	3	 
	 Section 1.01         Definitions
	  	 	3	 
		
	 ARTICLE II DECLARATION OF TRUST
	  	 	12	 
	 Section 2.01         Declaration of Trust
	  	 	12	 
	 Section 2.02         Permitted Activities
	  	 	12	 
		
	 ARTICLE III THE CERTIFICATES
	  	 	12	 
	 Section 3.01         The Certificates
	  	 	12	 
	 Section 3.02         Terms and Conditions
	  	 	13	 
		
	 ARTICLE IV ISSUANCE AND TRANSFER OF THE CLASS B CERTIFICATES
	  	 	15	 
	 Section 4.01         Issuance of Class B
Certificates
	  	 	15	 
	 Section 4.02         Legends
	  	 	16	 
	 Section 4.03
        Book-Entry Provisions for Global Certificates
	  	 	17	 
		
	 ARTICLE V DISTRIBUTION; STATEMENTS TO CERTIFICATEHOLDERS
	  	 	18	 
	 Section 5.01         Statements to
Certificateholders
	  	 	18	 
		
	 ARTICLE VI DEFAULT
	  	 	20	 
	 Section 6.01         Purchase Rights of
Certificateholders
	  	 	20	 
		
	 ARTICLE VII THE TRUSTEE
	  	 	23	 
	 Section 7.01         Delivery of Documents; Delivery
Dates
	  	 	23	 
	 Section 7.02         Withdrawal of Deposits
	  	 	25	 
	 Section 7.03         The Trustee
	  	 	25	 
	 Section 7.04         Representations and Warranties
of the Trustee
	  	 	25	 
	 Section 7.05         Trustee Liens
	  	 	26	 
		
	 ARTICLE VIII ADDITIONAL AMENDMENT; SUPPLEMENTAL AGREEMENTS
	  	 	26	 
	 Section 8.01         Amendment of Section 5.02 of the
Basic Agreement
	  	 	26	 
	 Section 8.02         Supplemental Agreements Without
Consent of Class B Certificateholders
	  	 	26	 
	 Section 8.03         Supplemental Agreements with
Consent of Class B Certificateholders
	  	 	27	 
	 Section 8.04         Consent of Holders of
Certificates Issued under Other Trusts
	  	 	28	 
		
	 ARTICLE IX MISCELLANEOUS PROVISIONS
	  	 	28	 
	 Section 9.01         Final Termination Date
	  	 	28	 
	 Section 9.02         Basic Agreement
Ratified
	  	 	28	 
	 Section 9.03         Governing Law
	  	 	28	 
	 Section 9.04         Counterparts
	  	 	28	 
	 Section 9.05         Intention of Parties
	  	 	29	 
	 Section 9.06         Submission to
Jurisdiction
	  	 	29	 

  

					
		 	i	  	 Trust Supplement No. 2017-2B

American Airlines Aircraft EETC

					
	 	  	Page	 
		
	 EXHIBITS
	  			
	 Exhibit A — Form of Certificate
	  			
	 Exhibit B — DTC Letter of Representations
	  			

  

					
		 	ii	  	 Trust Supplement No. 2017-2B

American Airlines Aircraft EETC

 TRUST SUPPLEMENT NO. 2017-2B 

This TRUST SUPPLEMENT NO. 2017-2B, dated as of October 5, 2017 (as amended from time to time, the “Trust
Supplement”), between AMERICAN AIRLINES, INC., a Delaware corporation (together with any successor in interest pursuant to Section 5.02 of the Basic Agreement, the “Company” or “American”) and
WILMINGTON TRUST COMPANY, a Delaware trust company, not in its individual capacity but solely as trustee (together with any successor in interest and any successor or other trustee appointed as provided in the Basic Agreement, the
“Trustee”) under the Pass Through Trust Agreement, dated as of September 16, 2014, between the Company and Wilmington Trust Company, a Delaware trust company (the “Basic Agreement”). 

W I T N E S S E T H: 

WHEREAS, the Basic Agreement, which is unlimited as to the aggregate face amount of Certificates that may be issued and authenticated
thereunder, has heretofore been executed and delivered; 
 WHEREAS, the Company is the owner of, and has financed the sixteen aircraft
designated as “Funded Aircraft” in Schedule I to the NPA (the “Funded Aircraft” and each, a “Funded Aircraft”); 

WHEREAS, the Company owns, or has obtained commitments from a Manufacturer pursuant to an Aircraft Purchase Agreement for the delivery
scheduled on or prior to June 15, 2018 of, the fourteen aircraft designated as “New Delivery Aircraft” in Schedule I to the NPA (together with any aircraft substituted therefor in accordance with the applicable Aircraft Purchase
Agreement and the NPA prior to the delivery thereof, the “Pre-Funded Aircraft” and each, a “Pre-Funded Aircraft”, and the Funded Aircraft together with the Pre-Funded Aircraft (the “Aircraft” and
each, an “Aircraft”) and the Company wishes to finance pursuant to the NPA a portion of the purchase price of each Pre-Funded Aircraft; 

WHEREAS, American has issued the Class AA Certificates and the Class A Certificates on August 14, 2017 in order to finance the
Aircraft pursuant to the Original NPA; 
 WHEREAS, American has issued a Series AA Equipment Note and a Series A Equipment Note related to
each Funded Aircraft and American wishes to issue a Series B Equipment Note pursuant to the Indenture related to each such Funded Aircraft (as amended by the Indenture Amendment relating to such Indenture); 

WHEREAS, pursuant to the Indenture with respect to each Pre-Funded Aircraft, American will issue on a recourse basis a Series AA Equipment
Note, a Series A Equipment Note and a Series B Equipment Note, in each case, secured by, among other things, such Pre-Funded Aircraft; 

WHEREAS, the Trustee shall hereby declare the creation of the Class B Trust (as defined below) for the benefit of Holders of the Class B
Certificates (as defined below) to be issued in respect of such Class B Trust, and the initial Holders of the Class B Certificates, as 

  

					
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American Airlines Aircraft EETC

 
grantors of such Class B Trust, by their respective acceptances of the Class B Certificates, shall join in the creation of the Class B Trust with the Trustee; 

WHEREAS, all Certificates to be issued by the Class B Trust will evidence Fractional Undivided Interests in the Class B Trust and will have no
rights, benefits or interests in respect of any other separate Trust or the property held therein; 
 WHEREAS, pursuant to the terms and
conditions of the Basic Agreement as supplemented by this Trust Supplement, and the Participation Agreement Amendments relating to the Funded Aircraft, the Trustee on behalf of the Class B Trust shall on the date hereof purchase the Series B
Equipment Notes relating to the Funded Aircraft issued by the Company pursuant to the Indentures relating to the Funded Aircraft (as each such Indenture is amended by the Indenture Amendment relating to such Indenture) having the identical interest
rate as, and final maturity dates not later than the final expected Regular Distribution Date of, the Class B Certificates issued hereunder and shall hold such Series B Equipment Notes relating to the Funded Aircraft in trust for the benefit of the
Class B Certificateholders; 
 WHEREAS, the Escrow Agent and the Underwriters have contemporaneously herewith entered into an Escrow
Agreement with the Escrow Paying Agent pursuant to which the Underwriters will deliver to the Escrow Agent a portion of the proceeds from the sale of the Class B Certificates, and have irrevocably instructed the Escrow Agent to withdraw and pay
funds from such proceeds upon request and proper certification by the Trustee to purchase Series B Equipment Notes relating to the Pre-Funded Aircraft from time to time prior to the Delivery Period Termination Date; 

WHEREAS, the Escrow Agent on behalf of the Class B Certificateholders has contemporaneously herewith entered into a Deposit Agreement with the
Depositary under which the Deposits referred to therein will be made and from which Deposits it will withdraw funds to allow the Trustee to purchase Series B Equipment Notes relating to the Pre-Funded Aircraft from time to time prior to the Delivery
Period Termination Date; 
 WHEREAS, pursuant to the terms and conditions of the Basic Agreement, as supplemented by this Trust Supplement,
the NPA and the Participation Agreements relating to the Pre-Funded Aircraft, the Trustee on behalf of the Class B Trust shall from time to time purchase the Series B Equipment Notes relating to the Pre-Funded Aircraft issued by the Company pursuant
to the Indentures relating to the Pre-Funded Aircraft having the identical interest rate as, and final maturity dates not later than the final expected Regular Distribution Date of, the Class B Certificates issued hereunder and shall hold such
Series B Equipment Notes relating to the Pre-Funded Aircraft in trust for the benefit of the Class B Certificateholders; 
 WHEREAS,
pursuant to the terms and conditions of the Intercreditor Agreement referred to in Section 3.02(j) hereof, the Trustee and the other parties thereto will agree to the terms of subordination set forth therein; 

WHEREAS, all of the conditions and requirements necessary to make this Trust Supplement, when duly executed and delivered, a valid, binding
and legal instrument in accordance with its terms and for the purposes herein expressed, have been done, performed and 

  

					
		 		  	 Trust Supplement No. 2017-2B

American Airlines Aircraft EETC

 
fulfilled, and the execution and delivery of this Trust Supplement in the form and with the terms hereof have been in all respects duly authorized; 

WHEREAS, the Basic Agreement, as supplemented by this Trust Supplement, is subject to the provisions of the Trust Indenture Act and shall, to
the extent applicable, be governed by such provisions; 
 NOW, THEREFORE, in consideration of the mutual agreements herein contained, and of
other good and valuable consideration the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows: 
 
ARTICLE I 
 DEFINITIONS 

Section 1.01 Definitions. Unless otherwise specified herein or the context otherwise requires,
capitalized terms used but not defined herein, including in the recitals hereto, shall have the respective meanings set forth, and shall be construed and interpreted in the manner described, in the Basic Agreement. As used herein, the term
“Agreement” shall mean the Basic Agreement, as supplemented by this Trust Supplement. For all purposes of the Basic Agreement as supplemented by this Trust Supplement, the following capitalized terms have the following meanings (any
term used herein which is defined in both this Trust Supplement and the Basic Agreement shall have the meaning assigned thereto in this Trust Supplement for purposes of the Basic Agreement as supplemented by this Trust Supplement). 

Accounts: Has the meaning specified in the Deposit Agreement. 

Additional Certificateholder: Has the meaning specified in the Intercreditor Agreement. 

Additional Certificates: Has the meaning specified in the Intercreditor Agreement. 

Additional Equipment Note: Has the meaning specified in the Intercreditor Agreement. 

Additional Trust: Has the meaning specified in the Intercreditor Agreement. 

Additional Trust Agreement: Has the meaning specified in the Intercreditor Agreement. 

Additional Trustee: Has the meaning specified in the Intercreditor Agreement. 

Affiliate: Has the meaning specified in the Intercreditor Agreement. 

Agreement: Has the meaning specified in the first paragraph of Section 1.01 of this Trust Supplement. 

  

					
		 		  	 Trust Supplement No. 2017-2B

American Airlines Aircraft EETC

 Aircraft: Has the meaning specified in the preamble to this Trust
Supplement. 
 Aircraft Purchase Agreement: Has the meaning specified in the NPA. 

American: Has the meaning specified in the preamble to this Trust Supplement. 

Applicable Funding Date: Has the meaning specified in Section 7.01(b) of this Trust Supplement. 

Applicable Notice of Purchase Withdrawal: Has the meaning specified in the Escrow Agreement. 

Applicable Participation Agreement: Has the meaning specified in Section 7.01(b) of this Trust Supplement.

 Basic Agreement: Has the meaning specified in the preamble to this Trust Supplement. 

Business Day: Has the meaning specified in the Intercreditor Agreement. 

Certificate: Means a Class AA Certificate, a Class A Certificate or a Class B Certificate, as applicable. 

Certificate Buy-Out Event: Has the meaning specified in the Intercreditor Agreement. 

Certificateholder: Means, with respect to any Class of Certificates, the Person in whose name a Certificate is
registered in the Register for the Certificates of such Class. 
 Class: Has the meaning specified in the
Intercreditor Agreement. 
 Class AA Certificateholder: Means, at any time, any Certificateholder of one or more
Class AA Certificates. 
 Class AA Certificates: Has the meaning specified in the Intercreditor Agreement. 

Class AA Liquidity Facility: Has the meaning specified in the Intercreditor Agreement. 

Class AA Liquidity Provider: Has the meaning specified in the Intercreditor Agreement. 

Class AA Trust: Has the meaning specified in the Intercreditor Agreement. 

Class AA Trust Agreement: Has the meaning specified in the Intercreditor Agreement. 

Class AA Trustee: Has the meaning specified in the Intercreditor Agreement. 

  

					
		 		  	 Trust Supplement No. 2017-2B

American Airlines Aircraft EETC

 Class A Certificateholder: Means, at any time, any Certificateholder
of one or more Class A Certificates. 
 Class A Certificates: Has the meaning specified in the
Intercreditor Agreement. 
 Class A Liquidity Facility: Has the meaning specified in the Intercreditor
Agreement. 
 Class A Liquidity Provider: Has the meaning specified in the Intercreditor Agreement. 

Class A Trust: Has the meaning specified in the Intercreditor Agreement. 

Class A Trust Agreement: Has the meaning specified in the Intercreditor Agreement. 

Class A Trustee: Has the meaning specified in the Intercreditor Agreement. 

Class B Certificateholder: Means, at any time, any Certificateholder of one or more Class B Certificates. 

Class B Certificates: Has the meaning specified in Section 3.01 of this Trust Supplement. 

Class B Liquidity Facility: Has the meaning specified in the Intercreditor Agreement. 

Class B Liquidity Provider: Has the meaning specified in the Intercreditor Agreement. 

Class B Trust: Has the meaning specified in Section 2.01 of this Trust Supplement. 

Class B Underwriters: Means Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs &
Co. LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital Inc., Citigroup Global Markets Inc., ICBC Standard Bank Plc, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, BNP Paribas Securities Corp., Credit
Agricole Securities (USA) Inc., Standard Chartered Bank, SMBC Nikko Securities America, Inc. and U.S. Bancorp Investments, Inc. 

Class B Underwriting Agreement: Means the Class B Underwriting Agreement, dated September 26, 2017, among the
Company, the Depositary and Deutsche Bank Securities Inc. and Credit Suisse Securities (USA) LLC, as representatives of the Class B Underwriters, as the same may be amended, supplemented or otherwise modified from time to time in accordance with its
terms. 
 Code: Means the Internal Revenue Code of 1986, as amended. 

  

					
		 		  	 Trust Supplement No. 2017-2B

American Airlines Aircraft EETC

 Company: Has the meaning specified in the preamble to this Trust
Supplement. 
 Corporate Trust Office: Has the meaning specified in the Intercreditor Agreement. 

Cut-off Date: Has the meaning specified in Section 3.02(b) of this Trust Supplement. 

Definitive Certificates: Has the meaning specified in Section 4.01(e) of this Trust Supplement. 

Delivery Period Termination Date: Has the meaning specified in the NPA. 

Deposit Agreement: Means, subject to Section 5 of the NPA, the Deposit Agreement (Class B), dated as of the date
hereof, relating to the Class B Certificates between the Depositary and the Escrow Agent, as the same may be amended, supplemented or otherwise modified from time to time in accordance with its terms. 

Depositary: Means, subject to Section 5 of the NPA, Natixis S.A., acting through its New York Branch. 

Deposits: Has the meaning specified in the Deposit Agreement. 

Distribution Date: Means a Regular Distribution Date or a Special Distribution Date. 

DTC: Has the meaning specified in Section 3.02(f) of this Trust Supplement. 

DTC Participants: Has the meaning specified in Section 4.01(b) of this Trust Supplement. 

Equipment Notes: Has the meaning specified in the Intercreditor Agreement. 

ERISA: Means the Employee Retirement Income Security Act of 1974, as amended. 

ERISA Plan: Means (i) a retirement plan or other employee benefit plan or arrangement, including for this purpose
an individual retirement account, annuity or Keogh plan, that is subject to Title I of ERISA or Section 4975 of the Code, or (ii) any entity whose underlying assets are deemed for any purpose of ERISA or Section 4975 of the Code to
include “plan assets” by reason of such a plan or arrangement’s investment in such entity. 
 Escrow
Agent: Means, initially, Wilmington Trust, National Association, a national banking association, and any replacement or successor therefor appointed in accordance with the Escrow Agreement. 

  

					
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American Airlines Aircraft EETC

 Escrow Agreement: Means the Escrow and Paying Agent Agreement (Class B),
dated as of the date hereof, relating to the Class B Certificates, among the Escrow Agent, the Escrow Paying Agent, the Trustee and Deutsche Bank Securities Inc. and Credit Suisse Securities (USA) LLC, as representatives of the Class B Underwriters,
as the same may be amended, supplemented or otherwise modified from time to time in accordance with its terms. 
 Escrow
Paying Agent: Means the “Paying Agent” as defined in the Escrow Agreement. 
 Escrow Period Termination
Date: Has the meaning specified in Section 5.01(c)(i) of this Trust Supplement. 
 Escrow Receipt:
Means a receipt substantially in the form annexed to the Escrow Agreement representing a fractional undivided interest in the funds held in escrow thereunder. 

Event of Default: With respect to any Indenture, has the meaning specified in Section 4.01 of such Indenture. 

Event of Loss Withdrawal: Has the meaning specified in the Escrow Agreement. 

Final Withdrawal: Has the meaning specified in the Escrow Agreement. 

Final Withdrawal Date: Has the meaning specified in the Escrow Agreement. 

Fractional Undivided Interests: Has the meaning specified in the Intercreditor Agreement. 

Funded Aircraft: Has the meaning specified in the preamble to this Trust Supplement. 

Funding Date: Has the meaning specified in the NPA. 

Funding Notice: Has the meaning specified in the NPA. 

Global Certificate: Has the meaning specified in Section 4.01(b) of this Trust Supplement. 

Holder: Means a Certificateholder. 

Indenture: Has the meaning specified in the Intercreditor Agreement. 

Indenture Amendment: Means, with respect to an Indenture relating to a Funded Aircraft, the First Amendment thereto,
dated as of the date hereof, between the Company and the Loan Trustee. 

  

					
		 		  	 Trust Supplement No. 2017-2B

American Airlines Aircraft EETC

 Indirect Participants: Has the meaning specified in
Section 4.01(b) of this Trust Supplement. 
 Intercreditor Agreement: Has the meaning specified in
Section 3.02(j) of this Trust Supplement. 
 Issuance Date: Has the meaning specified in
Section 7.01(a) of this Trust Supplement. 
 Liquidity Provider: Has the meaning specified in the
Intercreditor Agreement. 
 Loan Trustee: Means, with respect to any Indenture, the bank, trust company or other
financial institution designated as loan trustee thereunder, and any successor to such loan trustee. 
 Manufacturer:
Has the meaning specified in the NPA. 
 Note Documents: Means, collectively, the Participation Agreements, the
Indentures, each Indenture Supplement (as defined in any Indenture), each Manufacturer’s Consent (as defined in any Indenture) and the Equipment Notes. 

Notice of Purchase Withdrawal: Has the meaning specified in the Deposit Agreement. 

NPA: Means the Original NPA, as amended and restated by the Amended and Restated Note Purchase Agreement, dated as of
the date hereof, among the Trustee, the Class AA Trustee, the Class A Trustee, the Company, the Escrow Agent, the Escrow Paying Agent and the Subordination Agent, providing for, among other things, the purchase of Series B Equipment Notes
relating to the Pre-Funded Aircraft by the Trustee on behalf of the Class B Trust, as the same may be further amended, supplemented or otherwise modified from time to time, in accordance with its terms. 

Officer’s Certificate: Means a certificate signed, (a) in the case of the Company or the Parent, by the
Chairman or Vice Chairman of the Board of Directors, the President, any Executive Vice President, any Senior Vice President, any Vice President, Treasurer or Assistant Treasurer of the Company or the Parent, as the case may be, or (b) in the
case of the Trustee or the Loan Trustee, a Responsible Officer of the Trustee or such Loan Trustee, as the case may be. 

Operative Agreements: Has the meaning specified in the Intercreditor Agreement. 

Original NPA: Means the Note Purchase Agreement, dated as of August 14, 2017, among American, the Class AA
Trustee, the Class A Trustee, the Subordination Agent, and the escrow agent and the escrow paying agent relating to the Class AA Certificates and the Class A Certificates. 

  

					
		 		  	 Trust Supplement No. 2017-2B

American Airlines Aircraft EETC

 Other Agreements: Means (i) the Class AA Trust Agreement,
(ii) the Class A Trust Agreement, (iii) the Basic Agreement as supplemented by a Trust Supplement (as defined in the Basic Agreement) relating to any Additional Trust and (iv) the Basic Agreement as supplemented by a Trust
Supplement (as defined in the Basic Agreement) relating to any Refinancing Trust. 
 Other Trusts: Means the Class AA
Trust, the Class A Trust, any Additional Trust or Trusts, or any Refinancing Trust or Trusts, in each case created by the applicable Other Agreement. 

Parent: Means American Airlines Group Inc., a Delaware corporation and parent of American (together with its successors
and assigns). 
 Participation Agreement: Has the meaning specified in the Intercreditor Agreement. 

Participation Agreement Amendment: Means, with respect to a Participation Agreement relating to a Funded Aircraft, the
First Amendment thereto, dated as of the date hereof, among the initial parties to such Participation Agreement and the Trustee. 

Paying Agent: Means, with respect to the Class B Certificates, the paying agent maintained and appointed for such Class
B Certificates pursuant to Section 7.12 of the Basic Agreement. 
 Person: Means any individual, corporation,
limited liability company, partnership, joint venture, association, joint-stock company, trust, trustee, unincorporated organization or government or any agency or political subdivision thereof. 

Plan: Means (i) an ERISA Plan or (ii) a retirement plan or other employee benefit plan or arrangement,
including for this purpose an individual retirement account, annuity or Keogh plan, that is subject to Title I of ERISA or Section 4975 of the Code, or such a plan or arrangement which is a foreign, church or governmental plan or arrangement
exempt from Title I of ERISA and Section 4975 of the Code but subject to a Similar Law. 
 Pool Balance: Means,
as of any date, (i) the original aggregate face amount of the Class B Certificates less (ii) the aggregate amount of all distributions made as of such date in respect of the Class B Certificates or in respect of Deposits other than
distributions made in respect of interest or Premium or reimbursement of any costs or expenses incurred in connection therewith. The Pool Balance as of any date shall be computed after giving effect to any distribution with respect to unused
Deposits, the payment of principal, if any, of the Series B Equipment Notes or payment with respect to other Trust Property and the distribution thereof to be made on such date. 

Pool Factor: Means, as of any Distribution Date, the quotient (rounded to the seventh decimal place) computed by
dividing (i) the Pool Balance by (ii) the original aggregate face amount of the Class B Certificates. The Pool Factor as of any Distribution Date shall be computed after giving effect to any distribution with respect to unused

  

					
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American Airlines Aircraft EETC

 
Deposits, payment of principal, if any, of the Series B Equipment Notes or payment with respect to other Trust Property and the distribution thereof to be made on that date. 

Pre-Funded Aircraft: Has the meaning specified in the preamble to this Trust Supplement. 

Premium: Has the meaning specified in the Intercreditor Agreement. 

Prospectus Supplement: Means the final Prospectus Supplement, dated September 26, 2017, relating to the offering
of the Class B Certificates. 
 Rating Agencies: Has the meaning specified in the Intercreditor Agreement. 

Refinancing Certificateholders: Has the meaning specified in the Intercreditor Agreement. 

Refinancing Certificates: Has the meaning specified in the Intercreditor Agreement. 

Refinancing Equipment Notes: Has the meaning specified in the Intercreditor Agreement. 

Refinancing Trust: Has the meaning specified in the Intercreditor Agreement. 

Refinancing Trust Agreement: Has the meaning specified in the Intercreditor Agreement. 

Register: Has the meaning specified in the Intercreditor Agreement. 

Registrar: Has the meaning specified in the Basic Agreement. 

Regular Distribution Date: Has the meaning specified in Section 3.02(c) of this Trust Supplement. 

Replacement Depositary: Has the meaning specified in the NPA. 

Replacement Depositary Agreement: Has the meaning specified in the NPA. 

Replacement Liquidity Facility: Has the meaning specified in the Intercreditor Agreement. 

Replacement Liquidity Provider: Has the meaning specified in the Intercreditor Agreement. 

Responsible Officer: Has the meaning specified in the Intercreditor Agreement. 

Scheduled Payment: Has the meaning specified in the Intercreditor Agreement. 

  

					
		 		  	 Trust Supplement No. 2017-2B

American Airlines Aircraft EETC

 Series AA Equipment Notes: Has the meaning specified in the Intercreditor
Agreement. 
 Series A Equipment Notes: Has the meaning specified in the Intercreditor Agreement. 

Series B Equipment Notes: Has the meaning specified in the Intercreditor Agreement. 

Similar Law: Means a foreign, federal, state, or local law which is substantially similar to the prohibited transaction
provisions of Title I of ERISA or Section 4975 of the Code. 
 Special Distribution Date: Means, with respect to
the Class B Certificates, each date on which a Special Payment is to be distributed as specified in this Agreement. 

Special Payment: Means any payment (other than a Scheduled Payment) in respect of, or any proceeds of, any Equipment
Note or the Collateral (as defined in any Indenture). 
 Special Payments Account: Means, with respect to the Class B
Certificates, the account or accounts created and maintained for such series pursuant to Section 4.01(b) of the Basic Agreement (as modified by Section 7.01(c) of this Trust Supplement) and this Trust Supplement. 

Subordination Agent: Has the meaning specified in the Intercreditor Agreement. 

Triggering Event: Has the meaning specified in the Intercreditor Agreement. 

Trust: Means the Class AA Trust, the Class A Trust or the Class B Trust, as applicable. 

Trustee: Has the meaning specified in the preamble to this Trust Supplement. 

Trust Indenture Act: Means the Trust Indenture Act of 1939, as amended. 

Trust Property: Means (i) subject to the Intercreditor Agreement, the Series B Equipment Notes held as the
property of the Class B Trust, all monies at any time paid thereon and all monies due and to become due thereunder, (ii) funds from time to time deposited in the Certificate Account and the Special Payments Account and, subject to the
Intercreditor Agreement, any proceeds from the sale by the Trustee pursuant to Article VI of the Basic Agreement of any Equipment Notes and (iii) all rights of the Class B Trust and the Trustee, on behalf of the Class B Trust, under the
Intercreditor Agreement, the Escrow Agreement, the NPA and the Class B Liquidity Facility, including, without limitation, all rights to receive certain payments thereunder, and all monies paid to the Trustee on behalf of the Class B Trust pursuant
to the Intercreditor Agreement or the Class B Liquidity Facility, provided, that rights with respect to the 

  

					
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American Airlines Aircraft EETC

 
Deposits or under the Escrow Agreement, except for the right to direct withdrawals for the purchase of Series B Equipment Notes to be held herein, will not constitute Trust Property. 

Trust Supplement: Has the meaning specified in the preamble hereto. 

Withdrawal Certificate: Has the meaning specified in the Escrow Agreement. 

ARTICLE II 

DECLARATION OF TRUST 
 
Section 2.01 Declaration of Trust. The Trustee hereby declares the creation of a Trust, designated the “American Airlines Pass Through Trust 2017-2B” (the “Class B Trust”), for the benefit of the Holders of
the Class B Certificates to be issued in respect of such Class B Trust, and the initial Holders of the Class B Certificates, as grantors of such Class B Trust, by their respective acceptances of the Class B Certificates, join in the creation of such
Class B Trust with the Trustee. The Trustee, by the execution and delivery of this Trust Supplement, acknowledges its acceptance of all right, title and interest in and to the Trust Property to be acquired pursuant to Section 7.01(b) of
this Trust Supplement, and, as the case may be, the Participation Agreement Amendments with respect to the Funded Aircraft or the NPA and the Participation Agreements with respect to the Pre-Funded Aircraft and the Trustee will hold such right,
title and interest for the benefit of all present and future Holders of the Class B Certificates, upon the trusts set forth in the Basic Agreement and this Trust Supplement. The provisions of this Section 2.01 supersede and replace the
provisions of Section 2.03 of the Basic Agreement with respect to the Class B Trust. 

Section 2.02 Permitted Activities. The Class B Trust may engage only in the transactions
contemplated by the Operative Agreements, subject to Section 9.05 of this Trust Supplement. 

ARTICLE III 

THE CERTIFICATES 
 
Section 3.01 The Certificates. There is hereby created a series of Certificates to be issued under this Agreement designated as “American Airlines Pass Through Certificates, Series 2017-2B” (the “Class B
Certificates”). Each Class B Certificate represents a Fractional Undivided Interest in the Class B Trust created hereby. The Class B Certificates shall be the only instruments evidencing a Fractional Undivided Interest in the Class B Trust.
The Class B Certificates do not represent indebtedness of the Class B Trust, and references herein to interest accruing on the Class B Certificates are included for purposes of computation only. 

  

					
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 Section 3.02 Terms and Conditions. The terms and
conditions applicable to the Class B Certificates and the Class B Trust are as follows: 
 (a) The aggregate face amount of the Class B
Certificates that may be authenticated and delivered under this Agreement (except for Class B Certificates authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Class B Certificates pursuant to
Sections 3.03, 3.04, 3.05 and 3.06 of the Basic Agreement and Section 4.03 of this Trust Supplement) is $220,723,000. 
 (b) The Cut-off Date (the “Cut-off Date”) is the earlier of (i) the day after the Delivery Period Termination Date, and (ii) the date on which a Triggering Event occurs. 

(c) The distribution dates with respect to any payment of Scheduled Payments (each such distribution date, a “Regular Distribution
Date”) shall be each April 15 and each October 15, commencing on April 15, 2018, until payment of all of the Scheduled Payments to be made under the Equipment Notes has been made; provided, however, that, if any
such day shall not be a Business Day, the related distribution shall be made on the next succeeding Business Day without additional interest. 

(d) The Special Distribution Date with respect to the Class B Certificates means any Business Day on which a Special Payment is to be
distributed pursuant to this Agreement. 
 (e) At the Escrow Agent’s request under the Escrow Agreement, the Trustee shall affix the
corresponding Escrow Receipt to each Class B Certificate. In any event, any transfer or exchange of any Class B Certificate shall also effect a transfer or exchange of the related Escrow Receipt. Prior to the Final Withdrawal Date, no transfer or
exchange of any Class B Certificate shall be permitted unless the corresponding Escrow Receipt is attached thereto and also is so transferred or exchanged. By acceptance of any Class B Certificate to which an Escrow Receipt is attached, each holder
of such a Class B Certificate acknowledges and accepts the restrictions on transfer of the Escrow Receipt as set forth herein, in such Escrow Receipt, and in the Escrow Agreement. 

(f) The Class B Certificates shall be in the form attached hereto as Exhibit A, shall be Book-Entry Certificates (subject to
Section 3.05(d) of the Basic Agreement and Section 4.03 of this Trust Supplement), and shall be subject to the conditions set forth in the Letter of Representations between the Class B Trust and The Depository Trust Company and any
successor agency thereto (“DTC”), as initial Clearing Agency, attached hereto as Exhibit B. 
 (g) (i) $70,027,000 of the
proceeds of the offering of Class B Certificates issued by the Class B Trust shall be used by the Trustee in accordance with the Participation Agreement Amendments relating to the Funded Aircraft to acquire on the date hereof the Series B Equipment
Notes described in Schedule I to the Indenture Amendment relating to each Funded Aircraft and (ii) $150,696,000 of the proceeds of the offering of Class B Certificates issued by the Class B Trust and the related Escrow Receipts shall be
deposited in the Accounts and shall be used in accordance with the Escrow Agreement, the Deposit Agreement and the NPA to acquire from time to time the Series B Equipment Notes described in Schedule III to the NPA that relate to the Pre-Funded
Aircraft and to the Note Documents relating to the Pre-Funded Aircraft described in Schedule III to the NPA. 

  

					
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 (h) Any Person acquiring or accepting a Class B Certificate or an interest therein will, by such
acquisition or acceptance, be deemed to (i) represent and warrant to the Company, the Loan Trustees and the Trustee that either (A) no assets of a Plan or any trust established with respect to a Plan have been used to purchase or hold
Class B Certificates or an interest therein or (B) the purchase and holding of Class B Certificates or interests therein by such Person is exempt from the prohibited transaction restrictions of ERISA and the Code or provisions of Similar Law
pursuant to one or more prohibited transaction statutory or administrative exemptions or similar exemptions under Similar Law, and (ii) direct the Trustee to invest the assets held in the Trust pursuant to, and take all other actions
contemplated by, the terms and conditions of the Basic Agreement, this Trust Supplement, the Intercreditor Agreement, the Deposit Agreement, the Escrow Agreement, the NPA, each Participation Agreement Amendment and each Participation Agreement. 

(i) Any Person who is an ERISA Plan and is acquiring or accepting a Class B Certificate or an interest therein will, by such acquisition or
acceptance, be deemed to represent and warrant that the decision to acquire or accept the Class B Certificate or interest therein has been made by a duly authorized fiduciary of the ERISA Plan that (i) is independent (as that term is used in 29
C.F.R. 2510.3-21(c)(1)) of the Company and its affiliates and there is no financial interest, ownership interest, or other relationship, agreement or understanding or otherwise that would limit its ability to carry out its fiduciary responsibility
to the ERISA Plan; (ii) is a bank, insurance carrier, registered investment adviser, a registered broker-dealer, or an independent fiduciary that holds, or has under management or control, total assets of at least $50 million (in each case, as
specified in 29 C.F.R. 2510.3-21(c)(1)(i)(A)-(E)); (iii) is capable of evaluating investment risks independently, both in general and with regard to particular transactions and investment strategies (including, without limitation, with respect
to the decision to acquire or accept the Class B Certificate or interest therein); (iv) has been fairly informed that the Company and its affiliates have not and will not undertake to provide impartial investment advice, or to give advice in a
fiduciary capacity, in connection with the acquisition or acceptance of the Class B Certificate or interest therein; (v) has been fairly informed that the Company and its affiliates have financial interests in the ERISA Plan’s acquisition
or acceptance of the Class B Certificate or interest therein, which interests may conflict with the interest of the ERISA Plan, as more fully described in the offering materials; (vi) is a fiduciary under ERISA or the Code, or both, with
respect to the decision to acquire or accept the Class B Certificate or interest therein and is responsible for exercising (and has exercised) independent judgment in evaluating whether to invest the assets of such ERISA Plan in the Class B
Certificate or interest therein; and (vii) is not paying the Company or any of its affiliates, any fee or other compensation directly for the provision of investment advice (as opposed to other services) in connection with the ERISA Plan’s
acquisition or acceptance of the Class B Certificate or interest therein. 
 (j) The Class B Certificates will be subject to the following
Intercreditor Agreement (and to the extent the terms thereof (including the definitions of defined terms) are inconsistent with the terms of this Agreement, such Intercreditor Agreement shall control): that certain Amended and Restated Intercreditor
Agreement (2017-2), dated as of the date hereof, among Wilmington Trust Company, as Trustee, Class AA Trustee and Class A Trustee, National Australia Bank Limited, as Class AA Liquidity Provider, Class A Liquidity Provider and Class B
Liquidity Provider, and Wilmington Trust Company, as Subordination Agent thereunder (as may 

  

					
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be further amended, supplemented or otherwise modified from time to time in accordance with its terms, the “Intercreditor Agreement”). Upon the occurrence of a Certificate
Buy-Out Event, the holders of the Class A Certificates, Class B Certificates and Additional Certificates (if any) shall have the rights set forth in Article VI hereof. The Trustee and, by acceptance of any Class B Certificate, each
Certificateholder thereof, agrees to be bound by all of the provisions of the Intercreditor Agreement, including the subordination provisions of Section 9.09 thereof. 

(k) The Class B Certificates have the benefit of the Deposit Agreement and the Escrow Agreement. 

(l) The Class B Certificates will have the benefit of the following liquidity facility: that certain Revolving Credit Agreement (2017-2B),
dated as of the date hereof, between Wilmington Trust Company, as Subordination Agent under the Intercreditor Agreement, as agent and trustee for the Class B Trust, and the Class B Liquidity Provider. 

(m) The Responsible Party is the Company. 

(n) The Parent will not initially guarantee the obligations of the Company under any Series B Equipment Notes to be acquired by the Class B
Trust. 
 (o) The Company, the Parent, any other obligor upon the Class B Certificates, and any Affiliate of any thereof may acquire, tender
for, purchase, own, hold, become the pledgee of and otherwise deal with any Class B Certificate. 
 ARTICLE
IV 
 ISSUANCE AND TRANSFER OF THE CLASS B CERTIFICATES 

Section 4.01 Issuance of Class B Certificates. (a) The Class B Certificates will be issued in
minimum denominations of $2,000 (or such other denomination that is the lowest integral multiple of $1,000 that is, at the time of issuance, equal to at least 1,000 euros) and integral multiples of $1,000 in excess thereof, except that one
Certificate may be issued in a different denomination. Each Class B Certificate shall be dated the date of its authentication. 
 (b) The
Class B Certificates shall be issued initially in the form of one or more global Certificates in definitive, fully registered form without interest coupons, substantially in the form of Exhibit A hereto (each, a “Global
Certificate”), duly executed and authenticated by the Trustee as hereinafter provided. Each Global Certificate will be registered in the name of a nominee for DTC for credit to the account of members of, or participants in, DTC
(“DTC Participants”) or to the account of indirect participants that clear through or maintain a custodial relationship with a DTC Participant, either directly or indirectly (“Indirect Participants”), and will be
deposited with the Trustee, at its Corporate Trust Office, as custodian for DTC. The aggregate face amount of a Global Certificate may from time to time be increased or decreased by adjustments made on the records of DTC or its nominee, or of the
Trustee, as custodian for DTC or its nominee for such Global Certificate, which adjustments shall be conclusive as to the aggregate face amount of any such Global Certificate. 

  

					
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 (c) [Reserved] 

(d) [Reserved] 
 (e) Certificated
Certificates in registered form shall be issued in substantially the form set forth as Exhibit A hereto (the “Definitive Certificates”) and shall be in fully registered form and shall be typed, printed, lithographed or engraved or
produced by any combination of these methods or may be produced in any other manner, all as determined by the officers executing such Definitive Certificates, as evidenced by their execution of such Definitive Certificates. 

Section 4.02 Legends. (a) Each Global Certificate shall bear the following
legend on the face thereof: 
 UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW
YORK CORPORATION (“DTC”), TO THE TRUSTEE OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IN EXCHANGE FOR THIS CERTIFICATE IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER
NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

(b) Each Class B Certificate shall bear the following legend on the face thereof: 

BY ITS ACQUISITION HEREOF, THE HOLDER REPRESENTS THAT EITHER (A) NO ASSETS OF A PLAN OR ANY TRUST ESTABLISHED WITH RESPECT TO A PLAN HAVE
BEEN USED TO ACQUIRE THIS CERTIFICATE OR AN INTEREST HEREIN OR (B) THE PURCHASE AND HOLDING OF THIS CERTIFICATE OR INTEREST HEREIN BY SUCH A PERSON ARE EXEMPT FROM THE PROHIBITED TRANSACTION RESTRICTIONS OF THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED (“ERISA”) AND SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) OR SUBSTANTIALLY SIMILAR PROVISIONS OF FOREIGN, FEDERAL, STATE OR LOCAL LAW PURSUANT TO ONE OR MORE
PROHIBITED TRANSACTION STATUTORY OR ADMINISTRATIVE EXEMPTIONS OR SIMILAR EXEMPTIONS UNDER SIMILAR LAW. CERTAIN TERMS USED IN THIS PARAGRAPH SHALL HAVE THE MEANINGS SPECIFIED IN THE TRUST SUPPLEMENT (THE “AGREEMENT”). 

  

					
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 Section 4.03
Book-Entry Provisions for Global Certificates. (a) DTC Participants shall have no rights under this Agreement with respect to any Global Certificate held on their behalf by DTC, or the Trustee as
its custodian, and DTC may be treated by the Trustee and any agent of the Trustee as the absolute owner of such Global Certificate for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Trustee or any agent of
the Trustee from giving effect to any written certification, proxy or other authorization furnished by DTC or shall impair, as between DTC and its DTC Participants, the operation of customary practices governing the exercise of the rights of a
holder of any Class B Certificate. Upon the issuance of any Global Certificate, the Registrar or its duly appointed agent shall record Cede & Co. or another nominee of DTC as the registered holder of such Global Certificate. 

(b) Transfers of any Global Certificate shall be limited to transfers of such Global Certificate in whole, but not in part, to nominees of DTC,
DTC’s successor or such successor’s nominees. Beneficial interests in Global Certificates may be transferred in accordance with the rules and procedures of DTC and the provisions of Section 4.02 of this Trust Supplement.
Definitive Certificates shall be delivered to all beneficial owners of beneficial interests in Global Certificates, if (i) DTC notifies the Trustee in writing that it is no longer willing or able to discharge properly its responsibilities as
depositary for the Global Certificates, and a successor depositary is not appointed by the Trustee within 90 days of such notice, (ii) the Company, at its option, advises the Trustee in writing that it elects to terminate the book-entry
system through DTC or (iii) after the occurrence and during the continuance of an Event of Default, Class B Certificateholders with Fractional Undivided Interests aggregating not less than a majority in interest in the Class B Trust advise the
Trustee, the Company and DTC through DTC Participants in writing that the continuation of a book-entry system through DTC (or a successor thereto) is no longer in the Class B Certificateholders’ best interests. Neither the Company nor the
Trustee shall be liable if the Company or the Trustee is unable to locate a qualified successor clearing system. 
 (c) [Reserved] 

(d) In connection with the transfer of the entire amount of a Global Certificate to the beneficial owners thereof pursuant to
Section 4.03(b) hereof, such Global Certificate shall be deemed to be surrendered to the Trustee for cancellation, and the Trustee shall execute, authenticate and deliver to each beneficial owner, in exchange for the beneficial interest
thereof in such Global Certificate, an equal aggregate face amount of Definitive Certificates of authorized denominations, in each case as such beneficial owner and related aggregate face amount shall have been identified and otherwise set forth
(together with such other information as may be required for the registration of such Definitive Certificates) in registration instructions that shall have been delivered by or on behalf of DTC to the Trustee. None of the Company, the Registrar, the
Paying Agent nor the Trustee shall be liable for any delay in delivery of such registration instructions and each such Person may conclusively rely on, and shall be protected in relying on, such registration instructions. Upon the issuance of any
Definitive Certificate, the Trustee shall recognize the Person in whose name such Definitive Certificate is registered in the Register as a Certificateholder hereunder. 

  

					
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 (e) The registered Holder of a Global Certificate may grant proxies and otherwise authorize any
Person, including DTC Participants and Persons that may hold interests through DTC Participants, to take any action which a Holder is entitled to take under this Agreement or the Class B Certificates. 

(f) Neither the Company, nor the Trustee, nor the Registrar, nor the Paying Agent shall have any responsibility or liability for: (i) any
aspect of the records relating to or payments made on account of beneficial ownership interests in the Global Certificates, (ii) maintaining, supervising or reviewing any records relating to such beneficial ownership interests or (iii) the
performance by DTC, any DTC Participant or any Indirect Participant of their respective obligations under the rules, regulations and procedures creating and affecting DTC and its operation or any other statutory, regulatory, contractual or customary
procedures governing their obligations. 
 ARTICLE V 

DISTRIBUTION; STATEMENTS TO CERTIFICATEHOLDERS 

Section 5.01 Statements to Certificateholders. (a) On each Regular Distribution Date and
Special Distribution Date, the Trustee will include with each distribution to the Class B Certificateholders a statement, giving effect to the distribution to be made on such Regular Distribution Date or Special Distribution Date, setting forth the
following information (per $1,000 aggregate face amount of Class B Certificates as to clauses (ii), (iii), (iv) and (v) below): 

(i) the aggregate amount of funds distributed on such Distribution Date under this Agreement and the Escrow Agreement,
indicating the amount, if any, allocable to each source (including any portion thereof paid by the Class B Liquidity Provider); 

(ii) the amount of such distribution under this Agreement allocable to principal and the amount allocable to Premium (if any);

 (iii) the amount of such distribution under this Agreement allocable to interest (including any portion thereof paid by
the Class B Liquidity Provider); 
 (iv) the amount of such distribution under the Escrow Agreement allocable to interest, if
any; 
 (v) the amount of such distribution under the Escrow Agreement allocable to unused Deposits, if any; and 

(vi) the Pool Balance and the Pool Factor. 

With respect to the Class B Certificates registered in the name of DTC or its nominee, on the Record Date prior to each Regular Distribution
Date and Special Distribution Date, the Trustee will request that DTC post on its Internet bulletin board a securities position listing setting forth the names of all the DTC Participants reflected on DTC’s books as holding interests in the
Class B Certificates on such Record Date. On each Regular Distribution Date 

  

					
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and Special Distribution Date, the Trustee will mail to each such DTC Participant whose name has been provided by DTC the statement described above and will make available additional copies as
requested by such DTC Participants for forwarding to holders of interests in the Class B Certificates. 
 (b) Within a reasonable period of
time after the end of each calendar year but not later than the latest date permitted by law, the Trustee shall furnish to each Person who at any time during such calendar year was a Class B Certificateholder of record a statement containing the sum
of the amounts determined pursuant to clauses (a)(i), (a)(ii), (a)(iii), (a)(iv) and (a)(v) above for such calendar year or, in the event such Person was a Class B Certificateholder of record during a portion of
such calendar year, for the applicable portion of such year, and such other items as are readily available to the Trustee and which a Class B Certificateholder may reasonably request as necessary for the purpose of such Certificateholder’s
preparation of its United States federal income tax returns or foreign income tax returns. With respect to Class B Certificates registered in the name of DTC or its nominee, such statement and such other items shall be prepared on the basis of
information supplied to the Trustee by the DTC Participants and shall be delivered by the Trustee to such DTC Participants to be available for forwarding by such DTC Participants to the holders of beneficial interests in the Class B Certificates.

 (c) Promptly following: 

(i) the Delivery Period Termination Date, or, if later, the date of any Final Withdrawal (the later of such dates, the
“Escrow Period Termination Date”), if there has been, on or prior to the Escrow Period Termination Date, (A) any change in the information set forth in clauses (y) and (z) below from that set forth in
pages S-63 to S-65 of the Prospectus Supplement, or (B) any early redemption or purchase of, or any default in the payment of principal or interest in respect of, any of the Series B Equipment Notes held in the Class B Trust, any Event of Loss
Withdrawal or any Final Withdrawal, and 
 (ii) the date of any early redemption or purchase of, or any default in the
payment of principal or interest in respect of, any of the Series B Equipment Notes held in the Class B Trust, in either case described in this clause (ii), occurring after the Escrow Period Termination Date, 

the Trustee shall furnish to Class B Certificateholders of record on such date a statement setting forth (x) the expected Pool Balances for each
subsequent Regular Distribution Date following the Delivery Period Termination Date, (y) the related Pool Factors for such Regular Distribution Dates and (z) the expected principal distribution schedule of the Series B Equipment Notes, in
the aggregate, held as Trust Property at the date of such notice. With respect to the Class B Certificates registered in the name of DTC, on the Delivery Period Termination Date, the Trustee will request from DTC a securities position listing
setting forth the names of all DTC Participants reflected on DTC’s books as holding interests in the Class B Certificates on such date. The Trustee will mail to each such DTC Participant the statement described above and will make available
additional copies as requested by such DTC Participant for forwarding to holders of interests in the Class B Certificates. 

  

					
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 (d) If the aggregate principal payments scheduled for a Regular Distribution Date prior to the
Delivery Period Termination Date differ from the amount thereof set forth for the Class B Certificates on page S-64 of the Prospectus Supplement, by no later than the 15th day prior to such Regular Distribution Date, the Trustee shall mail written
notice of the actual amount of such scheduled payments to the Class B Certificateholders of record as of a date within 15 Business Days prior to the date of mailing. 

(e) The provisions of this Section 5.01 supersede and replace the provisions of Section 4.03 of the Basic Agreement in their
entirety with respect to the Class B Trust. 
 ARTICLE VI 

DEFAULT 
 
Section 6.01 Purchase Rights of Certificateholders. (a) At any time after the occurrence and during the continuation of a Certificate Buy-Out Event, so long as no Additional Certificateholder has elected to exercise its rights
to purchase Certificates pursuant to, and given notice of such election in accordance with, this Section 6.01 (upon such election and notification thereof, the right specified in this Section 6.01(a) shall be suspended and
(x) upon consummation of the purchase pursuant to such election, be terminated with respect to such Certificate Buy-Out Event, or (y) upon failure to consummate such purchase on the proposed purchase date, such right shall be revived),
each Class B Certificateholder (other than the Company or any of its Affiliates) shall have the right to purchase, for the purchase price set forth in the Class AA Trust Agreement and in the Class A Trust Agreement all, but not less than all,
of the Class AA Certificates and Class A Certificates upon ten days’ prior written irrevocable notice to the Trustee, the Class AA Trustee, the Class A Trustee and each other Class B Certificateholder, on the third Business Day
following the expiration of such ten-day notice period, provided that (A) if prior to the end of such ten-day period any other Class B Certificateholder(s) (other than the Company or any of its Affiliates) notifies such purchasing Class
B Certificateholder that such other Class B Certificateholder(s) want(s) to participate in such purchase, then such other Class B Certificateholder(s) (other than the Company or any of its Affiliates) may join with the purchasing Class B
Certificateholder to purchase all, but not less than all, of the Class AA Certificates and the Class A Certificates pro rata based on the Fractional Undivided Interest in the Class B Trust held by each such Class B Certificateholder and
(B) upon consummation of such purchase no Class B Certificateholder shall have a right to purchase the Class AA Certificates and the Class A Certificates pursuant to this Section 6.01(a) during the continuance of such
Certificate Buy-Out Event; 
 (b) By acceptance of its Class B Certificate, each Class B Certificateholder agrees that at any time after the
occurrence and during the continuation of a Certificate Buy-Out Event: 
 (i) if any Additional Certificates are issued by
one or more Additional Trusts, each Additional Certificateholder (other than the Company or any of its Affiliates) shall have the right (which shall not expire upon any purchase of the Class AA Certificates and Class A Certificates pursuant to
Section 6.01(a)) to purchase, for the purchase price set forth in the Class AA Trust Agreement with respect to the Class AA Certificates, in the 

  

					
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Class A Trust Agreement with respect to the Class A Certificates, herein with respect to the Class B Certificates and in the applicable Additional Trust Agreement with respect to any
Additional Certificates that rank senior to the Additional Certificates held by the purchasing Additional Certificateholder all, but not less than all, of the Class AA Certificates, the Class A Certificates, the Class B Certificates and any
Additional Certificates ranked senior to the Additional Certificates held by the purchasing Additional Certificateholder upon ten days’ prior written irrevocable notice to the Trustee, the Class AA Trustee, the Class A Trustee and any
Additional Trustee with respect to any Additional Certificates that rank senior to the Additional Certificates held by the purchasing Additional Certificateholder and each other Additional Certificateholder of the same class, on the third Business
Day following the expiration of such ten-day notice period, provided that (A) if prior to the end of such ten-day period any other Additional Certificateholder(s) of such class (other than the Company or any of its Affiliates) notifies
such purchasing Additional Certificateholder that such other Additional Certificateholder(s) want(s) to participate in such purchase, then such other Additional Certificateholder(s) (other than the Company or any of its Affiliates) may join with the
purchasing Additional Certificateholder to purchase all, but not less than all, of the Class AA Certificates, the Class A Certificates, the Class B Certificates and such senior Additional Certificates pro rata based on the Fractional Undivided
Interest in the applicable Additional Trust held by each such Additional Certificateholder and (B) upon consummation of such purchase no Additional Certificateholder of such class shall have a right to purchase the Class AA Certificates, the
Class A Certificates, the Class B Certificates and such senior Additional Certificates pursuant to this Section 6.01(b)(i) during the continuance of such Certificate Buy-Out Event; and 

(ii) if any Refinancing Certificates are issued, each Refinancing Certificateholder shall have the same right (subject to the
same terms and conditions) to purchase Certificates pursuant to this Section 6.01 (and to receive notice in connection therewith) as the Certificateholders of the Class that such Refinancing Certificates refinanced. 

The purchase price with respect to the Class B Certificates shall be equal to the Pool Balance of the Class B Certificates, together with
accrued and unpaid interest in respect thereof to the date of such purchase, and any other amounts then due and payable to the Class B Certificateholders under this Agreement, the Intercreditor Agreement, the Escrow Agreement, any Series B Equipment
Note held as the property of the Class B Trust or the related Indenture and Participation Agreement or on or in respect of the Class B Certificates but without any Premium, provided, however, that if such purchase occurs after
(x) a record date specified in Section 2.03 of the Escrow Agreement relating to the distribution of unused Deposits and/or accrued and unpaid interest on Deposits and prior to or on the related distribution date under the Escrow Agreement,
such purchase price shall be reduced by the aggregate amount of unused Deposits and/or interest to be distributed under the Escrow Agreement (which deducted amounts shall remain distributable to, and may be retained by, the Class B
Certificateholders as of such record date) or (y) the Record Date relating to any Distribution Date, such purchase price shall be reduced by the amount to be distributed hereunder on such related Distribution Date (which deducted amounts shall
remain distributable to, and may be retained by, the Class B 

  

					
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Certificateholders as of such Record Date); provided, further, that no such purchase of Class B Certificates pursuant to this Section 6.01(b) shall be effective unless
the purchaser(s) shall certify to the Trustee that contemporaneously with such purchase, such purchaser(s) is purchasing, pursuant to the terms of this Agreement, the Class AA Trust Agreement, the Class A Trust Agreement, the applicable
Additional Trust Agreement (if any) or the applicable Refinancing Trust Agreement (as the case may be), and the Intercreditor Agreement, all of the Class AA Certificates, the Class A Certificates, the Class B Certificates and, if applicable,
the Additional Certificates that rank senior to the Additional Certificates held by the purchasing Additional Certificateholder(s) and, if applicable, the Refinancing Certificates that are senior to the securities held by such purchaser(s). Each
payment of the purchase price of the Class B Certificates referred to in the first sentence of this paragraph shall be made to an account or accounts designated by the Trustee and each such purchase shall be subject to the terms of this
Section 6.01(b). Each Class B Certificateholder agrees by its acceptance of its Class B Certificate that it will, upon payment from such Additional Certificateholder(s) or Refinancing Certificateholder(s), as the case may be, of the
purchase price set forth in the first sentence of this paragraph, forthwith sell, assign, transfer and convey to the purchaser(s) thereof (without recourse, representation or warranty of any kind except as to its own acts) all of the right, title,
interest and obligation of such Class B Certificateholder in this Agreement, the Escrow Agreement, the Deposit Agreement, the Intercreditor Agreement, the Class B Liquidity Facility, the NPA, the Note Documents and all Class B Certificates and
Escrow Receipts held by such Class B Certificateholder (excluding all right, title and interest under any of the foregoing to the extent such right, title or interest is with respect to an obligation not then due and payable as respects any action
or inaction or state of affairs occurring prior to such sale) and the purchaser(s) shall assume all of such Class B Certificateholder’s obligations under this Agreement, the Escrow Agreement, the Deposit Agreement, the Intercreditor Agreement,
the Class B Liquidity Facility, the NPA, the Note Documents and all such Class B Certificates and Escrow Receipts. The Class B Certificates will be deemed to be purchased on the date payment of the purchase price is made notwithstanding the failure
of any Class B Certificateholder to deliver any Class B Certificate and, upon such a purchase, (i) the selling Class B Certificateholders shall have no further rights with respect to the Class B Certificates and (ii) if the purchaser(s)
shall so request, each such Class B Certificateholder will comply with all the provisions of Section 3.04 of the Basic Agreement and the applicable provisions of this Trust Supplement to enable new Class B Certificates to be issued to the
purchaser(s) in such denominations otherwise authorized under this Agreement as it shall request. All charges and expenses in connection with the issuance of any such new Class B Certificates shall be borne by the purchaser(s) thereof. 

(c) This Section 6.01 supplements and, to the extent inconsistent with any provision of Section 6.01(d) of the Basic
Agreement, replaces the provisions of Section 6.01(d) of the Basic Agreement. Notwithstanding anything to the contrary set forth herein or in any Operative Agreement, the provisions of this Section 6.01 may not be amended in any
manner without the consent of each Class AA Certificateholder, Class A Certificateholder, Class B Certificateholder and Additional Certificateholder or, as the case may be, Refinancing Certificateholder (in each case, other than the Company or
any of its Affiliates in its respective capacity as a Certificateholder) that would be adversely affected thereby; provided that the purchase price under this Section 6.01 (as in effect on the date hereof) for any Certificate held
by 

  

					
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the Company or any of its Affiliates shall not be modified without the prior written consent of the Company. For the avoidance of doubt, if a Certificate Buy-Out Event ceases to exist and another
Certificate Buy-Out Event occurs and is continuing, the purchase rights set forth in this Section 6.01 shall be revived notwithstanding any exercise of such rights during the continuance of any preceding Certificate Buy-Out Event. 

ARTICLE VII 

THE TRUSTEE 
 
Section 7.01 Delivery of Documents; Delivery Dates. (a) The Trustee is hereby directed (i) to execute and deliver the Intercreditor Agreement, the Escrow Agreement and the NPA on or prior to the date of the initial issuance
of the Class B Certificates (the “Issuance Date”), each in the form delivered to the Trustee by the Company, and (ii) subject to the respective terms thereof, to perform its obligations thereunder. Upon request of the Company
and the satisfaction or waiver of the closing conditions specified in the Class B Underwriting Agreement, the Trustee shall execute, deliver, authenticate, issue and sell Class B Certificates in authorized denominations equaling in the aggregate the
amount set forth, with respect to the Class B Trust, in Schedule I to the Class B Underwriting Agreement evidencing the entire ownership interest in the Class B Trust, which amount equals the maximum aggregate principal amount of Series B Equipment
Notes to be purchased on the date hereof pursuant to the Participation Agreement Amendments with respect to the Funded Aircraft and which may be purchased from time to time by the Trustee pursuant to the NPA with respect to the Pre-Funded Aircraft.
Except as provided in Sections 3.03, 3.05 and 3.06 of the Basic Agreement or Section 4.03 of this Trust Supplement, the Trustee shall not execute, authenticate or deliver Class B Certificates in excess of the aggregate amount specified
in this paragraph. The provisions of this Section 7.01(a) supersede and replace the first three sentences of Section 2.02(a) of the Basic Agreement and the first sentence of Section 3.02(a) of the Basic Agreement, with respect
to the Class B Trust. 
 (b) (i) On the Issuance Date, upon satisfaction of the conditions set forth in the Participation Agreement Amendment
with respect to each Funded Aircraft, the Trustee shall purchase the Series B Equipment Notes to be purchased thereunder for a purchase price equal to the principal amount of such Series B Equipment Notes. (ii) On or after the Issuance Date,
the Company may deliver from time to time, and in accordance with Section 1(b) of the NPA, to the Trustee a Funding Notice relating to one or more Series B Equipment Notes relating to the Pre-Funded Aircraft. After receipt of such a Funding
Notice and in any case no later than one Business Day prior to a Funding Date as to which such Funding Notice relates (the “Applicable Funding Date”), the Trustee shall (as and when specified in the Funding Notice) deliver to the
Escrow Agent the Withdrawal Certificates and related Applicable Notices of Purchase Withdrawal, as contemplated by Section 1.02(c) of the Escrow Agreement and by such Funding Notice. The Trustee shall (as and when specified in such Funding
Notice), subject to the conditions set forth in Section 2 of the NPA, enter into and perform its obligations under the Participation Agreement specified in such Funding Notice (the “Applicable Participation Agreement”) and
cause such certificates, documents and legal opinions relating to the Trustee to be duly delivered as required by the Applicable Participation Agreement. If at any time prior to 

  

					
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the Applicable Funding Date, the Trustee receives from the Company a notice pursuant to the first sentence of Section 1(f) of the NPA, then the Trustee shall give notice to the Depositary
(with a copy to the Escrow Agent) of the cancellation of such Notice of Purchase Withdrawal relating to such Deposit or Deposits on such Applicable Funding Date as contemplated by Section 2.3 of the Deposit Agreement. Upon satisfaction of the
conditions specified in the NPA and the Applicable Participation Agreement, the Trustee shall purchase the Series B Equipment Notes relating to the applicable Pre-Funded Aircraft with the proceeds of the withdrawals of one or more Deposits made on
the Applicable Funding Date in accordance with the terms of the Deposit Agreement and the Escrow Agreement. The purchase price of such Series B Equipment Notes shall equal the principal amount of such Series B Equipment Notes. Amounts withdrawn from
such Deposit or Deposits in excess of the purchase price of the Series B Equipment Notes or to the extent not applied on the Applicable Funding Date to the purchase price of the Series B Equipment Notes shall be re-deposited by the Trustee with the
Depositary on the Applicable Funding Date in accordance with the terms of the Deposit Agreement. The provisions of this Section 7.01(b) supersede and replace the provisions of Section 2.02(b) of the Basic Agreement with respect to
the Class B Trust, and no provisions of the Basic Agreement relating to Postponed Notes and Section 2.02 of the Basic Agreement shall apply to the Class B Trust. 

(c) With respect to the Class B Trust, Section 4.01(b) of the Basic Agreement is superseded and replaced in its entirety with the
following: “The Trustee shall establish and maintain on behalf of the Class B Certificateholders a Special Payments Account as one or more accounts, which shall be non-interest bearing except as provided in Section 4.04 of the Basic
Agreement. The Trustee shall hold the Special Payments Account in trust for the benefit of the Class B Certificateholders and shall make or permit withdrawals therefrom only as provided in the Agreement or the Intercreditor Agreement. On each day
when one or more Special Payments are made to the Trustee under the Intercreditor Agreement, the Trustee, upon receipt thereof, shall immediately deposit the aggregate amount of such Special Payments in the Special Payments Account.” 

(d) With respect to the Class B Trust, the second sentence of Section 4.02(c) of the Basic Agreement shall be superseded and replaced in
its entirety with the following sentence: “Subject to the provisions of the Intercreditor Agreement: (i) in the event of redemption or purchase of Series B Equipment Notes held in the Class B Trust, such notice shall be mailed not less
than 15 days prior to the Special Distribution Date for the Special Payment resulting from such redemption or purchase, which Special Distribution Date shall be the date of such redemption or purchase; and (ii) in the case of any other Special
Payments, such notice of Special Payment shall be mailed as soon as practicable after the Trustee has confirmed that it has received funds for such Special Payment and shall state the Special Distribution Date for such Special Payment, which shall
occur 15 days after the date of such notice of Special Payment or (if such 15th day is not practicable) as soon as practicable thereafter.” 

(e) With respect to the Class B Trust, clause (ii) of the third sentence of Section 4.02(c) of the Basic Agreement shall be amended
by deleting in its entirety the parenthetical phrase “(taking into account any payment to be made by the Responsible Party pursuant to Section 2.02(b)).” 

  

					
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 Section 7.02 Withdrawal of Deposits. If any Deposits
remain outstanding on the Business Day next succeeding the Cut-off Date, the Trustee shall promptly give the Escrow Agent notice, as contemplated by clause (ii) of Section 1.02(f) of the Escrow
Agreement, that the Trustee’s obligation to purchase Series B Equipment Notes under the NPA has terminated and the Cut-off Date has occurred. 

Section 7.03 The Trustee. (a) Subject to Section 7.04 of this Trust Supplement
and Section 7.15 of the Basic Agreement, the Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Trust Supplement, the Intercreditor Agreement, the Deposit Agreement, the NPA or the
Escrow Agreement or the due execution hereof or thereof by the Company or the other parties thereto (other than the Trustee), or for or in respect of the recitals and statements contained herein or therein, all of which recitals and statements are
made solely by the Company or the other parties thereto (other than the Trustee), except that the Trustee hereby represents and warrants that each of this Trust Supplement, the Basic Agreement, each Class B Certificate, the Intercreditor Agreement,
the NPA and the Escrow Agreement has been executed and delivered by one of its officers who is duly authorized to execute and deliver such document on its behalf. 

(b) The Trustee shall at all times be a bank or trust company, organized and doing business under the laws of the United States or any state
thereof, a substantial part of the business of which consists of (i) receiving deposits and making loans or (ii) exercising fiduciary powers similar to those permitted to national banks by the Comptroller of the Currency, and which is
subject to supervision and examination by state or federal authority having supervision over banking institutions. 
 
Section 7.04 Representations and Warranties of the Trustee. The Trustee hereby represents and warrants that: 
 (a) the
Trustee has full power, authority and legal right to execute, deliver and perform this Trust Supplement, the Intercreditor Agreement, the Escrow Agreement, the NPA and the Note Documents to which it is or is to become a party and has taken all
necessary action to authorize the execution, delivery and performance by it of this Trust Supplement, the Intercreditor Agreement, the Escrow Agreement, the NPA and the Note Documents to which it is or is to become a party; 

(b) the execution, delivery and performance by the Trustee of this Trust Supplement, the Intercreditor Agreement, the Escrow Agreement, the NPA
and the Note Documents to which it is or is to become a party (i) will not violate any provision of any United States federal law governing its trust powers or the law of the state of the United States where it is located governing the banking
and trust powers of the Trustee or any order, writ, judgment, or decree of any court, arbitrator or governmental authority applicable to the Trustee or any of its assets, (ii) will not violate any provision of the charter of the Trustee, and
(iii) will not violate any provision of, or constitute, with or without notice or lapse of time, a default under, or result in the creation or imposition of, any lien on any properties included in the Trust Property pursuant to the provisions
of any mortgage, indenture, contract, agreement or other undertaking to which it is a party, which violation, default or lien could reasonably be expected to have an 

  

					
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adverse effect on the Trustee’s performance or ability to perform its duties hereunder or thereunder or on the transactions contemplated herein or therein; 

(c) the execution, delivery and performance by the Trustee of this Trust Supplement, the Intercreditor Agreement, the Escrow Agreement, the NPA
and the Note Documents to which it is or is to become a party will not require the authorization, consent, or approval of, the giving of notice to, the filing or registration with, or the taking of any other action in respect of, any governmental
authority or agency of the United States or the state of the United States where it is located regulating the corporate trust activities of the Trustee; and 

(d) this Trust Supplement, the Intercreditor Agreement, the Escrow Agreement, the NPA and the Note Documents to which it is or is to become a
party have been, or will be, as applicable, duly executed and delivered by the Trustee and constitute, or will constitute, as applicable, the legal, valid and binding agreements of the Trustee, enforceable against it in accordance with their
respective terms; provided, however, that enforceability may be limited by (i) applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the rights of creditors generally and (ii) general
principles of equity. 
 Section 7.05 Trustee Liens. The Trustee in its individual capacity
agrees, in addition to the agreements contained in Section 7.17 of the Basic Agreement, that it will at its own cost and expense promptly take any action as may be necessary to duly discharge and satisfy in full any Trustee’s Liens on or
with respect to the Trust Property which are attributable to the Trustee in its individual capacity and which are unrelated to the transactions contemplated by the Intercreditor Agreement or the NPA. 

ARTICLE VIII 

ADDITIONAL AMENDMENT; SUPPLEMENTAL AGREEMENTS 

Section 8.01 Amendment of Section 5.02 of the Basic Agreement. Section 5.02 of the Basic
Agreement shall be amended, with respect to the Class B Trust, by (i) replacing the phrase “of this Agreement” set forth in paragraph (a) thereof with the phrase “of the Note Documents, of the NPA and of this Agreement”
and (ii) replacing the phrase “under this Agreement” set forth in paragraph (b) thereof with the phrase “under this Agreement, the NPA and any Note Document”. 

Section 8.02 Supplemental Agreements Without Consent of Class B Certificateholders. Without
limitation of Section 9.01 of the Basic Agreement, under the terms of, and subject to the limitations contained in, Section 9.01 of the Basic Agreement, the Company may (but will not be required to), and the Trustee (subject to
Section 9.03 of the Basic Agreement) shall, at the request of the Company at any time and from time to time, enter into (or, in the case of the Deposit Agreement, consent to) and, if applicable, request the Escrow Agent and Escrow Paying Agent
to enter into (i) one or more agreements supplemental to the Escrow Agreement, the NPA or the Deposit Agreement, for any of the purposes set forth in clauses (1) through (15) of such Section 9.01, and (without limitation of the
foregoing or Section 9.01 of the Basic Agreement) (a) clauses (2) and (3) of such Section 9.01 shall also be deemed to include the Company’s obligations under (in the case of clause (2)), and the Company’s rights

  

					
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and powers conferred by (in the case of clause (3)), the NPA, (b) references in clauses (4) and (5) of such Section 9.01 to “any Intercreditor Agreement, any Note
Purchase Agreement, any Liquidity Facility or any Parent Guarantee” shall also be deemed to refer to “the Intercreditor Agreement, the Class B Liquidity Facility, the Escrow Agreement, the NPA, any Participation Agreement or the Deposit
Agreement”, (c) references to “any Intercreditor Agreement, any Liquidity Facility or any Parent Guarantee” in clause (7) of such Section 9.01 shall also be deemed to refer to “the Intercreditor Agreement, the
Class B Liquidity Facility, the Escrow Agreement, the NPA, any Participation Agreement or the Deposit Agreement” and (d) references to “any Intercreditor Agreement, any Note Purchase Agreement, any Indenture, any Liquidity Facility or
any Parent Guarantee” and to “any Intercreditor Agreement, any Liquidity Facility or any Parent Guarantee” in clause (8) of such Section 9.01 shall also be deemed to refer to “the Intercreditor Agreement, the NPA, any
Indenture, the Class B Liquidity Facility, the Escrow Agreement, the Deposit Agreement or any Participation Agreement”, (ii) one or more agreements supplemental to any Operative Agreement, the NPA, the Escrow Agreement or the Deposit
Agreement to provide for the formation of one or more Additional Trusts in existence at any one time, the issuance of Additional Certificates from time to time, the purchase by an Additional Trust of applicable Additional Equipment Notes and other
matters incidental thereto or otherwise contemplated by Section 2.01(b) of the Basic Agreement, all as provided in Section 4(a)(v) of the NPA and Section 8.01(d) of the Intercreditor Agreement, and (iii) one or more agreements
supplemental to any Operative Agreement, the NPA, the Escrow Agreement or the Deposit Agreement to provide for the formation of one or more Refinancing Trusts, the issuance of Refinancing Certificates, the purchase by any Refinancing Trust of
applicable Refinancing Equipment Notes and other matters incidental thereto or as otherwise contemplated by Section 2.01(b) of the Basic Agreement, all as provided in Section 4(a)(v) of the NPA and Section 8.01(c) of the Intercreditor
Agreement. In addition, the following provisions of Section 9.01 of the Basic Agreement shall be amended, with respect to the Class B Trust, as follows: (A) Section 9.01(1) of the Basic Agreement shall be amended by replacing the word
“, including” with the word “or”; (B) Section 9.01(6) of the Basic Agreement shall be amended by inserting the phrase “(or to facilitate any listing of any Certificates on any exchange or quotation system) or any
requirement of DTC or like depositary,” after the phrase “any exchange or quotation system on which the Certificates of any series are listed” but before the phrase “or of any regulatory body”; (C) Section 9.01(7)
of the Basic Agreement shall be amended by inserting the phrase “to establish or” after the phrase “to such extent as shall be necessary” but before the phrase “to continue”; and (D) Section 9.01(8) of the
Basic Agreement shall be amended by inserting the phrase “, or to evidence the substitution of a Liquidity Provider with a Replacement Liquidity Provider or to provide for a Replacement Liquidity Facility (and if such Replacement Liquidity
Facility is to be comprised of more than one instrument, to incorporate appropriate provisions for multiple liquidity facilities for a single pass through trust), all as provided in any Intercreditor Agreement; or to evidence the substitution of a
Depositary with a Replacement Depositary or to provide for a Replacement Deposit Agreement, all as provided in the NPA; or to evidence and provide for the acceptance of appointment by a successor Escrow Agent or successor Escrow Paying Agent under
the Escrow Agreement;” after the phrase “ one or more Trusts” but before the phrase “and to add to or change”. 
 
Section 8.03 Supplemental Agreements with Consent of Class B Certificateholders. Without limitation of Section 9.02 of the Basic Agreement, the provisions of 

  

					
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Section 9.02 of the Basic Agreement shall apply to agreements or amendments for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the
Escrow Agreement, the Deposit Agreement, the Class B Liquidity Facility or the NPA or modifying in any manner the rights and obligations of the Class B Certificateholders under the Escrow Agreement, the Deposit Agreement, the Class B Liquidity
Facility or the NPA; provided that the provisions of Section 9.02(1) of the Basic Agreement shall be deemed to include reductions in any manner of, or delay in the timing of, any receipt by the Class B Certificateholders of payments upon the
Deposits. 
 Section 8.04 Consent of Holders of Certificates Issued under Other Trusts.
Notwithstanding any provision in Section 8.02 or Section 8.03 of this Trust Supplement to the contrary, no amendment or modification of Section 6.01 of this Trust Supplement shall be effective unless the trustee
for each Class of Certificates affected by such amendment or modification shall have consented thereto. 

ARTICLE IX 

MISCELLANEOUS PROVISIONS 

Section 9.01 Final Termination Date. The respective obligations and responsibilities of the
Company and the Trustee created hereby and the Class B Trust created hereby shall terminate upon the distribution to all Class B Certificateholders and the Trustee of all amounts required to be distributed to them pursuant to this Agreement and the
disposition of all property held as part of the Trust Property; provided, however, that in no event shall the Trust created hereby continue beyond one hundred ten (110) years following the date of execution of this Trust
Supplement. 
 Section 9.02 Basic Agreement Ratified. Except and so far as herein expressly
provided, all of the provisions, terms and conditions of the Basic Agreement are in all respects ratified and confirmed; and the Basic Agreement and this Trust Supplement shall be taken, read and construed as one and the same instrument. To the
extent that any provisions of the Basic Agreement are superseded by any provisions of this Trust Supplement, any reference to such provisions of the Basic Agreement herein or in the Basic Agreement shall be deemed to be such provisions of this Trust
Supplement. 
 Section 9.03 Governing Law. THIS AGREEMENT HAS BEEN DELIVERED IN THE STATE OF NEW
YORK AND THIS AGREEMENT AND THE CLASS B CERTIFICATES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK, INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE. 

Section 9.04 Counterparts. This Trust Supplement may be executed in any number of
counterparts (and no party shall be required to execute the same counterpart). Each counterpart of this Trust Supplement including a signature page or pages executed by each of the parties hereto shall be an original counterpart of this Trust
Supplement, but all of such counterparts together constitute one instrument. The parties intend that faxed signatures and 

  

					
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electronically imaged signatures such as .pdf files shall constitute original signatures and are binding on all parties. The original documents shall be promptly delivered, if requested. 

Section 9.05 Intention of Parties. The parties hereto intend that the Class B Trust be classified
for United States federal income tax purposes as a grantor trust under Subpart E, Part I, Subchapter J, Chapter 1 of Subtitle A of the Code, and not as a trust or association taxable as a corporation or as a partnership. Each
Certificateholder of, and each Person acquiring a beneficial interest in, a Class B Certificate, by its acceptance of its Class B Certificate or a beneficial interest therein, agrees to treat the Class B Trust as a grantor trust for all United
States federal, state and local income tax purposes. The Trustee shall not be authorized or empowered to do anything that would cause the Class B Trust to fail to qualify as a grantor trust for such tax purposes (including as subject to this
restriction, acquiring any Aircraft by bidding the Equipment Notes relating thereto or otherwise, or taking any action with respect to any such Aircraft once acquired). 

Section 9.06 Submission to Jurisdiction. (a) Each of the parties hereto, to the extent it may
do so under applicable law, for purposes hereof and of all other Operative Agreements hereby (i) irrevocably submits itself to the non-exclusive jurisdiction of the courts of the State of New York sitting in the City of New York and to the
non-exclusive jurisdiction of the United States District Court for the Southern District of New York, for the purposes of any suit, action or other proceeding arising out of this Agreement, the subject matter hereof or any of the transactions
contemplated hereby brought by any party or parties hereto or thereto, or their successors or permitted assigns, (ii) waives, and agrees not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, that
the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof or any of the transactions contemplated hereby may not be enforced
in or by such courts, (iii) agrees that service of process in any such action or proceeding may be effected by mailing a copy thereof by registered or certified mail (or any substantially similar form of mail), postage prepaid, to each party
hereto at its address set forth in Section 12.04 of the Basic Agreement, or at such other address of which the other parties shall have been notified pursuant thereto; and (iv) agrees that nothing herein shall affect the right to effect
service of process in any other manner permitted by law or shall limit the right to sue in any other jurisdiction. 
 [Remainder of
Page Intentionally Blank; Signature Pages Follow] 

  

					
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 IN WITNESS WHEREOF, the parties have caused this Trust Supplement to be duly executed by their
respective officers thereto duly authorized as of the date first written above. 
  

					
	AMERICAN AIRLINES, INC.
		
	By:	 	/s/ Thomas T. Weir
		 	Name:	 	Thomas T. Weir
		 	Title:	 	Vice President and Treasurer

  
 [Signature Page
to Trust Supplement 2017-2B] 

 
					
	 WILMINGTON TRUST COMPANY,
 as
Trustee

		
	By:	 	/s/ Adam R. Vogelsong
		 	Name:	 	Adam R. Vogelsong
		 	Title:	 	Vice President

  
 [Signature Page
to Trust Supplement 2017-2B] 

 EXHIBIT A to 

TRUST SUPPLEMENT NO. 2017-2B 

FORM OF CERTIFICATE 
 [UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE TRUSTEE OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IN
EXCHANGE FOR THIS CERTIFICATE IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]1 
 BY ITS ACQUISITION HEREOF, THE HOLDER REPRESENTS THAT EITHER (A) NO ASSETS OF A PLAN OR ANY TRUST
ESTABLISHED WITH RESPECT TO A PLAN HAVE BEEN USED TO ACQUIRE THIS CERTIFICATE OR AN INTEREST HEREIN OR (B) THE PURCHASE AND HOLDING OF THIS CERTIFICATE OR INTEREST HEREIN BY SUCH A PERSON ARE EXEMPT FROM THE PROHIBITED TRANSACTION RESTRICTIONS
OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”) AND SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) OR SUBSTANTIALLY SIMILAR PROVISIONS OF FOREIGN, FEDERAL, STATE OR LOCAL
LAW PURSUANT TO ONE OR MORE PROHIBITED TRANSACTION STATUTORY OR ADMINISTRATIVE EXEMPTIONS OR SIMILAR EXEMPTIONS UNDER SIMILAR LAW. CERTAIN TERMS USED IN THIS PARAGRAPH SHALL HAVE THE MEANINGS SPECIFIED IN THE TRUST SUPPLEMENT (THE
“AGREEMENT”). 
  
  

	1 	This legend to appear on Book-Entry Certificates to be deposited with The Depository Trust Company. 

  

					
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 [GLOBAL CERTIFICATE]1 

AMERICAN AIRLINES PASS THROUGH TRUST 2017-2B 

AMERICAN AIRLINES PASS THROUGH CERTIFICATE, SERIES 2017-2B 

Final Expected Regular Distribution Date: October 15, 2025 

evidencing a fractional undivided interest in the Trust, 

the property of which includes or will include, 

among other things, certain Equipment Notes each secured by 

an Aircraft owned by American Airlines, Inc. 
  

					
	Certificate No.                 	 	$                 Fractional Undivided Interest representing         % of the Trust per $1,000
face amount	 	 CUSIP No. 02377D AA0
  

ISIN No. US02377DAA00

 THIS CERTIFIES THAT             , for value
received, is the registered owner of a $            (            dollars) Fractional Undivided Interest (or such lesser amounts
as shall be the aggregate outstanding face amount hereof as set forth in the records of the Trustee) in the American Airlines Pass Through Trust 2017-2B (the “Trust”) created by Wilmington Trust Company, as trustee (together with
any successor in interest and any successor or other trustee appointed pursuant to the Trust Supplement referred to below, the “Trustee”) under a Pass Through Trust Agreement, dated as of September 16, 2014 (the “Basic
Agreement”), between Wilmington Trust Company, a Delaware trust company, and American Airlines, Inc., a Delaware corporation (together with any successor in interest pursuant to Section 5.02 of the Basic Agreement, the
“Company”), as supplemented by Trust Supplement No. 2017-2B thereto, dated as of October 5, 2017 (collectively with the Basic Agreement, and as may be amended from time to time, the “Agreement”), between
the Trustee and the Company, a summary of certain of the pertinent provisions of which is set forth below. To the extent not otherwise defined herein, the capitalized terms used herein have the meanings assigned to them in the Agreement. This
Certificate is one of the duly authorized Certificates designated as “American Airlines Pass Through Certificates, Series 2017-2B” (herein called the “Certificates”). This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement. By virtue of its acceptance hereof, the Certificateholder of this Certificate assents to and agrees to be bound by all of the provisions of the Agreement and the Intercreditor Agreement, including
the subordination provisions of Section 9.09 of the Intercreditor Agreement. The Trust Property is expected to include certain Equipment Notes and includes all rights of the Trust and the Trustee, on behalf of the Trust, to receive any payments
under the Intercreditor Agreement and the Class B Liquidity Facility. Each issue of the Equipment Notes will be secured by, among other things, a security interest in the Aircraft owned by the Company. 

The Certificates represent Fractional Undivided Interests in the Trust and the Trust Property, and will have no rights, benefits or interest
in respect of any other separate trust established pursuant to the terms of the Basic Agreement for any other series of certificates issued pursuant thereto. 

 

	1 	 To be included on the face of each Global Certificate.

  

					
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 Subject to and in accordance with the terms of the Agreement and the Intercreditor Agreement,
from funds then available to the Trustee, there will be distributed on each April 15 and each October 15 (each, a “Regular Distribution Date”), commencing on April 15, 2018, to the Person in whose name this
Certificate is registered at the close of business on the 15th day preceding the applicable Regular Distribution Date, an amount in respect of the Scheduled Payments on the Series B Equipment
Notes due on such Regular Distribution Date, the receipt of which has been confirmed by the Trustee, equal to the product of the percentage interest in the Trust evidenced by this Certificate and an amount equal to the sum of such Scheduled
Payments. Subject to and in accordance with the terms of the Agreement and the Intercreditor Agreement, in the event that Special Payments on the Series B Equipment Notes are received by the Trustee, from funds then available to the Trustee, there
shall be distributed on the applicable Special Distribution Date, to the Person in whose name this Certificate is registered at the close of business on the 15th day preceding the applicable
Special Distribution Date, an amount in respect of such Special Payments on the Series B Equipment Notes, the receipt of which has been confirmed by the Trustee, equal to the product of the percentage interest in the Trust evidenced by this
Certificate and an amount equal to the sum of such Special Payments so received. If a Regular Distribution Date or Special Distribution Date is not a Business Day, distribution shall be made on the immediately following Business Day and no interest
shall accrue during the intervening period. The Trustee shall mail notice of each Special Payment and the Special Distribution Date therefor to the Certificateholder of this Certificate. 

Distributions on this Certificate will be made by the Trustee by check mailed to the Person entitled thereto, without the presentation or
surrender of this Certificate or the making of any notation hereon, except that with respect to Certificates registered on the Record Date in the name of a Clearing Agency (or its nominee), such distributions shall be made by wire transfer. Except
as otherwise provided in the Agreement and notwithstanding the above, the final distribution on this Certificate will be made after notice mailed by the Trustee of the pendency of such distribution and only upon presentation and surrender of this
Certificate at the office or agency of the Trustee specified in such notice. 
 The Certificates do not represent a direct obligation of, or
an obligation guaranteed by, or an interest in, the Company, the Trustee, the Subordination Agent, any Loan Trustee or any Affiliate of any thereof. The Certificates are limited in right of payment, all as more specifically set forth on the face
hereof and in the Agreement. All payments or distributions made to Certificateholders under the Agreement shall be made only from the Trust Property and only to the extent that the Trustee shall have sufficient income or proceeds from the Trust
Property to make such payments in accordance with the terms of the Agreement. Each Certificateholder of this Certificate, by its acceptance hereof, agrees that it will look solely to the income and proceeds from the Trust Property to the extent
available for any payment or distribution to such Certificateholder pursuant to the terms of the Agreement and that it will not have any recourse to the Company, the Trustee, the Loan Trustees or any Affiliate of any thereof except as otherwise
expressly provided in the Agreement, in any Note Document or in the Intercreditor Agreement. This Certificate does not purport to summarize the Agreement and reference is made to the Agreement for information with respect to the interests, rights,
benefits, 

  

					
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American Airlines Aircraft EETC

 
obligations, proceeds and duties evidenced hereby. A copy of the Agreement may be examined during normal business hours at the principal office of the Trustee, and at such other places, if any,
designated by the Trustee, by any Certificateholder upon request. 
 The Agreement permits, with certain exceptions therein provided, the
amendment thereof, and the modification of the rights and obligations of the Company and the rights of the Certificateholders under the Agreement, at any time by the Company and the Trustee with the consent of the Certificateholders holding
Certificates evidencing Fractional Undivided Interests aggregating not less than a majority in interest in the Trust. Any such consent by the Certificateholder of this Certificate shall be conclusive and binding on such Certificateholder and upon
all future Certificateholders of this Certificate and of any Certificate issued upon the transfer hereof or in exchange hereof or in lieu hereof whether or not notation of such consent is made upon this Certificate. The Agreement also permits the
amendment thereof, in certain limited circumstances, without the consent of the Certificateholders of any of the Certificates. 
 As
provided in the Agreement and subject to certain limitations set forth therein, the transfer of this Certificate is registrable in the Register upon surrender of this Certificate for registration of transfer at the offices or agencies maintained by
the Trustee in its capacity as Registrar, or by any successor Registrar, duly endorsed or accompanied by a written instrument of transfer in form satisfactory to the Trustee and the Registrar, duly executed by the Certificateholder hereof or such
Certificateholder’s attorney duly authorized in writing, and thereupon one or more new Certificates of authorized denominations evidencing the same aggregate Fractional Undivided Interest in the Trust will be issued to the designated transferee
or transferees. 
 The Certificates are issuable only as registered Certificates without coupons in minimum denominations of $2,000 (or such
other denomination that is the lowest integral multiple of $1,000 that is, at the time of issuance, equal to at least 1,000 euros) Fractional Undivided Interest and integral multiples of $1,000 in excess thereof except that one Certificate may be
issued in a different denomination. As provided in the Agreement and subject to certain limitations therein set forth, the Certificates are exchangeable for new Certificates of authorized denominations evidencing the same aggregate Fractional
Undivided Interest in the Trust, as requested by the Certificateholder surrendering the same. 
 No service charge will be made for any such
registration of transfer or exchange, but the Trustee shall require payment of a sum sufficient to cover any tax or governmental charge payable in connection therewith. 

The Company, the Trustee, the Registrar and any Paying Agent shall deem and treat the Person in whose name this Certificate is registered as
the owner hereof for all purposes, and none of the Company, the Trustee, the Registrar or any such agent shall be affected by any notice to the contrary. 

Each Certificateholder and Person with a beneficial interest herein, by its acceptance of this Certificate or such interest, agrees to treat
the Trust as a grantor trust for all U.S. federal, state and local income tax purposes. 

  

					
		 		  	 Trust Supplement No. 2017-2B

American Airlines Aircraft EETC

 The obligations and responsibilities created by the Agreement and the Trust created thereby shall
terminate upon the distribution to Certificateholders of all amounts required to be distributed to them pursuant to the Agreement and the disposition of all property held as part of the Trust Property. 

Any Person acquiring or accepting this Certificate or an interest herein will, by such acquisition or acceptance, be deemed to
(a) represent and warrant to the Company, the Loan Trustees and the Trustee that either: (i) no assets of a Plan or any trust established with respect to a Plan have been used to purchase or hold this Certificate or an interest herein or
(ii) the purchase and holding of this Certificate or interest herein by such Person are exempt from the prohibited transaction restrictions of ERISA and the Code or provisions of Similar Law pursuant to one or more prohibited transaction
statutory or administrative exemptions or similar exemptions under Similar Law; and (b) direct the Trustee to invest the assets held in the Trust pursuant to, and take all other actions contemplated by, the terms and conditions of the Basic
Agreement, this Trust Supplement, the Intercreditor Agreement, the Deposit Agreement, the Escrow Agreement, the NPA, each Participation Agreement Amendment and each Participation Agreement. 

THIS CERTIFICATE AND THE AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK, INCLUDING ALL
MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE. 
 Unless the certificate of authentication hereon has been executed by the Trustee,
by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose. 

  

					
		 		  	 Trust Supplement No. 2017-2B

American Airlines Aircraft EETC

 IN WITNESS WHEREOF, the Trustee has caused this Certificate to be duly executed. 

 

					
	AMERICAN AIRLINES PASS THROUGH TRUST 2017-2B
		
	By:	 	 WILMINGTON TRUST COMPANY,
 as
Trustee

		
	By:	 	 
		 	Name:	 	
		 	Title:	 	

  

					
		 		  	 Trust Supplement No. 2017-2B

American Airlines Aircraft EETC

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the Certificates referred to in the within-mentioned Agreement. 

 

			
	 WILMINGTON TRUST COMPANY,
 as
Trustee

		
	By:	 	 
		 	Authorized Officer

  

					
		 		  	 Trust Supplement No. 2017-2B

American Airlines Aircraft EETC

 [FORM OF TRANSFER NOTICE] 

FOR VALUE RECEIVED the undersigned registered holder hereby sell(s), assign(s) and transfer(s) unto 

 

			
		 	Insert Taxpayer Identification No.
		 	 
	Please print or typewrite name and address including zip code of assignee
		 	 

 the within Certificate and all rights thereunder, hereby irrevocably constituting and appointing
                                attorney to transfer said Certificate on the books
of the Trustee with full power of substitution in the premises. 
  

			
	Date:                    	  	 
		  	NOTICE: The signature to this assignment must correspond with the name as written upon the face of the within-mentioned instrument in every particular, without alteration or any change
whatsoever.
		
		  	SIGNATURE
GUARANTEE:                                       
         

 Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the
Registrar, which requirements include membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to,
or in substitution for, STAMP, all in accordance with the Securities Exchange Act of 1934, as amended. 

  

					
		 		  	 Trust Supplement No. 2017-2B

American Airlines Aircraft EETC

 EXHIBIT B to 

TRUST SUPPLEMENT NO. 2017-2B 

DTC LETTER OF REPRESENTATIONS 

  

					
		 		  	 Trust Supplement No. 2017-2B

American Airlines Aircraft EETC

 The Depository Trust Company 

A subsidiary of the Depository Trust & Clearing Corporation 

ISSUER LETTER OF REPRESENTATIONS 

(To be completed by Issuer and Co-Issuer(s), if applicable) 

American Airlines Pass Through Trust 2017-2B 

 
 (Name of Issuer and Co-Issuer(s), if
applicable) 
 3.700% American Airlines Pass Through Certificates, Series 2017-2B 

 
 (Security Description, including series
designation if applicable) 
 02377D AA0 

 
 (CUSIP Number(s) of the Securities)

  

	
	October 5, 2017
	(Date)

 The Depository Trust Company 

570 Washington Blvd, 4th FL 
 Jersey City, NJ 07310 

Attention: Underwriting Department 
 Ladies and Gentlemen: 

This letter sets forth our understanding with respect to the Securities represented by the CUSIP number(s) referenced above (the
“Securities”). Issuer requests that The Depository Trust Company (“DTC”) accept the Securities as eligible for deposit at DTC. 
 Issuer
is: (Note: Issuer must represent one and cross out the other.) 

[                    
                    ] [formed under the laws of] Delaware. 

The DTC Clearing Participant Deutsche Bank Securities, Inc. will distribute the Securities through DTC. 

To induce DTC to accept the Securities as eligible for deposit at DTC, and to act in accordance with DTC’s Rules with respect to the
Securities, Issuer represents to DTC that Issuer will comply with the requirements stated in DTC’s Operational Arrangements, as they may be amended from time to time. 

											
	 Note:
 Schedule A contains
statements that DTC believes accurately describe DTC, the method of effecting book-entry transfers of securities distributed through DTC, and certain related matters.
	 		 	Very truly yours,
	 	 	  
 American Airlines Pass Through Trust 2017-2B
 By: Wilmington Trust Company, as
Trustee

	 	 	(Issuer)
	 	 	By:	 	  
 /s/ Adam R.
Vogelsong

											
		 		 	(Authorized Officer’s Signature)
			
		 		 	Adam R. Vogelsong
		 		 	(Print Name)
			
		 		 	 Wilmington Trust Company

1100 North Market Street

		 		 	(Street Address)
						
		 		 	Wilmington	 	Delaware	 	USA	 	19890
		 		 	(City)	 	(State)	 	(Country)	 	(Zip Code)
			
		 		 	###
		 		 	(Phone Number)
			
		 		 	###
		 		 	(E-mail Address)

 The Depository Trust Company 

A subsidiary of the Depository Trust & Clearing Corporation 

Additional Signature Page to 

ISSUER LETTER OF REPRESENTATIONS 

For use with Co-Issuers 
  

 
 Name of Issuer and Co-Issuer(s) 

In signing this Issuer Letter of Representations dated as of
                                         .

 Co-Issuer agrees to and shall be bound by all “Issuer” representations. 

 

									
	 	  	
	(Co-Issuer)	  	
			
	By:	  	 	  	
	(Authorized Officer’s Signature)	  	
		
	 	  	
	(Print Name)	  	
		
	 	  	
	(Street Address)	  	
		
	 	  	
	(City)	  	(State)	  	(Country)	  	(Zip Code)	  	
		
	 	  	
	(Phone Number)	  	
		
	 	  	
	(E-mail Address)	  	

 Schedule A 

(to Issuer Letter of Representations) 

SAMPLE OFFERING DOCUMENT LANGUAGE 

DESCRIBING BOOK-ENTRY-ONLY ISSUANCE 

(Prepared by DTC–bracketed material may be applicable only to certain issues) 

1. The Depository Trust Company (“DTC”), New York, NY, will act as securities depository for the securities (the
“Securities”). The Securities will be issued as fully-registered securities registered in the name of Cede & Co. (DTC’s partnership nominee) or such other name as may be requested by an authorized representative of DTC. One
fully-registered Security certificate will be issued for [each issue of] the Securities, [each] in the aggregate principal amount of such issue, and will be deposited with DTC. [If, however, the aggregate principal amount of [any] issue exceeds $500
million, one certificate will be issued with respect to each $500 million of principal amount, and an additional certificate will be issued with respect to any remaining principal amount of such issue.] 

2. DTC, the world’s largest securities depository, is a limited-purpose trust company organized under the New York Banking Law, a
“banking organization” within the meaning of the New York Banking Law, a member of the Federal Reserve System, a “clearing corporation” within the meaning of the New York Uniform Commercial Code, and a “clearing agency”
registered pursuant to the provisions of Section 17A of the Securities Exchange Act of 1934. DTC holds and provides asset servicing for over 3.5 million issues of U.S. and non-U.S. equity issues, corporate and municipal debt issues, and
money market instruments (from over 100 countries) that DTC’s participants (“Direct Participants”) deposit with DTC. DTC also facilitates the post-trade settlement among Direct Participants of sales and other securities transactions
in deposited securities, through electronic computerized book-entry transfers and pledges between Direct Participants’ accounts. This eliminates the need for physical movement of securities certificates. Direct Participants include both U.S.
and non-U.S. securities brokers and dealers, banks, trust companies, clearing corporations, and certain other organizations. DTC is a wholly-owned subsidiary of The Depository Trust & Clearing Corporation (“DTCC”). DTCC is the
holding company for DTC, National Securities Clearing Corporation and Fixed Income Clearing Corporation, all of which are registered clearing agencies. DTCC is owned by the users of its regulated subsidiaries. Access to the DTC system is also
available to others such as both U.S. and non-U.S. securities brokers and dealers, banks, trust companies, and clearing corporations that clear through or maintain a custodial relationship with a Direct Participant, either directly or indirectly
(“Indirect Participants”). DTC has a Standard & Poor’s rating of AA+. The DTC Rules applicable to its Participants are on file with the Securities and Exchange Commission. More information about DTC can be found at
www.dtcc.com. 
 3. Purchases of Securities under the DTC system must be made by or through Direct Participants, which will
receive a credit for the Securities on DTC’s records. The ownership interest of each actual purchaser of each Security (“Beneficial Owner “) is in turn to be recorded on the Direct and Indirect Participants’ records. Beneficial
Owners will not receive written confirmation from DTC of their purchase. Beneficial Owners are, however, expected to receive written confirmations providing details of the transaction, as well as periodic statements of their holdings, from the
Direct or Indirect Participant through which the Beneficial Owner entered into the transaction. Transfers of ownership interests in the Securities are to be accomplished by entries made on the books of Direct and Indirect Participants acting on
behalf of Beneficial Owners. Beneficial Owners will not receive certificates representing their ownership interests in Securities, except in the event that use of the book-entry system for the Securities is discontinued. 

 Schedule A 

(to Issuer Letter of Representations) 
  

 4. To facilitate subsequent transfers, all Securities deposited by Direct Participants with
DTC are registered in the name of DTC’s partnership nominee, Cede & Co., or such other name as may be requested by an authorized representative of DTC. The deposit of Securities with DTC and their registration in the name of
Cede & Co. or such other DTC nominee do not effect any change in beneficial ownership. DTC has no knowledge of the actual Beneficial Owners of the Securities; DTC’s records reflect only the identity of the Direct Participants to whose
accounts such Securities are credited, which may or may not be the Beneficial Owners. The Direct and Indirect Participants will remain responsible for keeping account of their holdings on behalf of their customers. 

5. Conveyance of notices and other communications by DTC to Direct Participants, by Direct Participants to Indirect Participants, and by
Direct Participants and Indirect Participants to Beneficial Owners will be governed by arrangements among them, subject to any statutory or regulatory requirements as may be in effect from time to time. [Beneficial Owners of Securities may wish to
take certain steps to augment the transmission to them of notices of significant events with respect to the Securities, such as redemptions, tenders, defaults, and proposed amendments to the Security documents. For example, Beneficial Owners of
Securities may wish to ascertain that the nominee holding the Securities for their benefit has agreed to obtain and transmit notices to Beneficial Owners. In the alternative, Beneficial Owners may wish to provide their names and addresses to the
registrar and request that copies of notices be provided directly to them.] 
 6. [Redemption notices shall be sent to DTC. If less than all
of the Securities within an issue are being redeemed, DTC’s practice is to determine by lot the amount of the interest of each Direct Participant in such issue to be redeemed.] 

7. Neither DTC nor Cede & Co. (nor any other DTC nominee) will consent or vote with respect to Securities unless authorized by a
Direct Participant in accordance with DTC’s MMI Procedures. Under its usual procedures, DTC mails an Omnibus Proxy to Issuer as soon as possible after the record date. The Omnibus Proxy assigns Cede & Co.’s consenting or voting
rights to those Direct Participants to whose accounts Securities are credited on the record date (identified in a listing attached to the Omnibus Proxy). 

8. Redemption proceeds, distributions, and dividend payments on the Securities will be made to Cede & Co., or such other nominee as
may be requested by an authorized representative of DTC. DTC’s practice is to credit Direct Participants’ accounts upon DTC’s receipt of funds and corresponding detail information from Issuer or Agent, on payable date in accordance
with their respective holdings shown on DTC’s records. Payments by Participants to Beneficial Owners will be governed by standing instructions and customary practices, as is the case with securities held for the accounts of customers in bearer
form or registered in “street name,” and will be the responsibility of such Participant and not of DTC, Agent, or Issuer, subject to any statutory or regulatory requirements as may be in effect from time to time. Payment of redemption
proceeds, distributions, and dividend payments to Cede & Co. (or such other nominee as may be requested by an authorized representative of DTC) is the responsibility of Issuer or Agent, disbursement of such payments to Direct Participants
will be the responsibility of DTC, and disbursement of such payments to the Beneficial Owners will be the responsibility of Direct and Indirect Participants. 

 Schedule A 

(to Issuer Letter of Representations) 
  

 9. [A Beneficial Owner shall give notice to elect to have its Securities purchased or
tendered, through its Participant, to [Tender/Remarketing] Agent, and shall effect delivery of such Securities by causing the Direct Participant to transfer the Participant’s interest in the Securities, on DTC’s records, to
[Tender/Remarketing] Agent. The requirement for physical delivery of Securities in connection with an optional tender or a mandatory purchase will be deemed satisfied when the ownership rights in the Securities are transferred by Direct Participants
on DTC’s records and followed by a book-entry credit of tendered Securities to [Tender/Remarketing] Agent’s DTC account.] 
 10.
DTC may discontinue providing its services as depository with respect to the Securities at any time by giving reasonable notice to Issuer or Agent. Under such circumstances, in the event that a successor depository is not obtained, Security
certificates are required to be printed and delivered. 
 11. Issuer may decide to discontinue use of the system of book-entry-only
transfers through DTC (or a successor securities depository). In that event, Security certificates will be printed and delivered to DTC. 

12. The information in this section concerning DTC and DTC’s book-entry system has been obtained from sources that Issuer believes to be
reliable, but Issuer takes no responsibility for the accuracy thereof.

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