Document:

Amended and Restated 2011 Employee Stock Purchase Plan

 Exhibit 10.46 
 GCT SEMICONDUCTOR, INC. 
 2011 EMPLOYEE STOCK PURCHASE PLAN

 (As amended December 2, 2011) 

 

	 	I.	PURPOSE OF THE PLAN 

 This
Employee Stock Purchase Plan is intended to promote the interests of GCT Semiconductor, Inc., a Delaware corporation, by providing eligible employees with the opportunity to acquire a proprietary interest in the Corporation through participation in
an employee stock purchase plan designed to qualify under Section 423 of the Code for one or more specified offerings made under such plan. 
 The Plan shall become effective at the time (the “Effective Time”) at which the underwriting agreement for the initial public offering of the Common Stock is executed and the price per share
established for the Common Stock to be sold in such offering. 
 Capitalized terms herein shall have the meanings assigned to
such terms in the attached Appendix. 
 All share numbers contained herein reflect the 1-for-9 reverse split of the
Corporation’s Common Stock to become effective immediately prior to the time the underwriting agreement for the initial public offering of the Company’s Common Stock is executed and the initial public offering price per share of such
Common Stock is established. 
  

	 	II.	ADMINISTRATION OF THE PLAN 

A. The Plan Administrator shall have full authority to interpret and construe any provision of the Plan and to adopt such rules and
regulations for administering the Plan as it may deem necessary in order to bring one or more offerings under the Plan into compliance with the requirements of Code Section 423. 

B. The Plan Administer may authorize one or more offerings under the Plan that are not designed to comply with the requirements of Code
Section 423 but with the requirements of the foreign jurisdictions in which those offerings are conducted. Such offerings shall be separate from any offerings designed to comply with the Code Section 423 requirements but may be conducted
concurrently with those offerings. 
 C. Decisions of the Plan Administrator shall be final and binding on all parties having an
interest in the Plan. 
  

	 	III.	STOCK SUBJECT TO PLAN 

 A.
The stock purchasable under the Plan shall be shares of authorized but unissued or reacquired Common Stock, including shares of Common Stock purchased on the 

 
open market. The number of shares of Common Stock reserved for issuance over the term of the Plan shall be limited to 1,000,000 shares. 

B. The number of shares of Common Stock available for issuance under the Plan shall automatically increase on the first trading day in
July each calendar year during the term of the Plan, beginning with the 2012 calendar year, by an amount equal to one percent (1%) of the total number of shares of Common Stock actually outstanding on the last trading day in the immediately
preceding calendar month, but in no event shall any such annual increase exceed 500,000 shares. 
 C. Should any change be made
to the Common Stock by reason of any stock split, stock dividend, recapitalization, combination of shares, exchange of shares, spin-off transaction or other change affecting the outstanding Common Stock as a class without the Corporation’s
receipt of consideration or should the value of outstanding shares of Common Stock be substantially reduced as a result of a spin-off transaction or an extraordinary dividend or distribution, then equitable adjustments shall be made by the Plan
Administrator to (i) the maximum number and class of securities issuable under the Plan, (ii) the maximum number and class of securities by which the share reserve is to increase automatically each calendar year pursuant to the provisions
of Section III.B of this Article One, (iii) the maximum number and class of securities purchasable per Participant during any offering period and on any one Purchase Date during that offering period, (iv) the maximum number and class of
securities purchasable in total by all Participants under the Plan on any one Purchase Date and (v) the number and class of securities and the price per share in effect under each outstanding purchase right. The adjustments shall be made in
such manner as the Plan Administrator deems appropriate, and such adjustments shall be final, binding and conclusive. 
  

	 	IV.	OFFERING PERIODS 

 A.
Shares of Common Stock shall be offered for purchase under the Plan through a series of successive offering periods until such time as (i) the maximum number of shares of Common Stock available for issuance under the Plan shall have been
purchased or (ii) the Plan shall have been sooner terminated. 
 B. Unless otherwise specified by the Plan Administrator
prior to the start of the applicable offering period: 
 (i) each offering period shall have a duration of twenty-four
(24) months, and 
 (ii) offering periods shall commence on the first business day of May and the first business day of
November each year. 
 However, the initial offering period under the Plan shall commence at the Effective Time and shall be of
such duration (not to exceed twenty-seven (27) months) as determined by the Plan Administrator. 
 C. The terms and
conditions of each offering period may vary, and two or more offerings periods may run concurrently under the Plan, each with its own terms and 

  
 2. 

 
conditions. In addition, special offering periods may be established with respect to entities that are acquired by the Corporation (or any subsidiary of the Corporation) or under such other
circumstances as the Plan Administrator deems appropriate. In no event, however, shall the terms and conditions of any offering period contravene the express limitations and restrictions of the Plan, and the participants in each separate offering
period conducted by one or more Participating Corporations in the United States shall have equal rights and privileges under that offering in accordance with the requirements of Section 423(b)(5) of the Code and the applicable Treasury
Regulations thereunder. 

  
 3. 

 D. Unless otherwise specified by the Plan Administrator prior to the start of the
applicable offering period, each offering period shall be comprised of four successive Purchase Intervals. Purchase Intervals shall run from the first business day in May to the last business day in October each year and from the first business day
in November each year to the last business day in April in the following year. However, the first Purchase Interval under the Plan shall commence at the Effective Time and shall be of such duration as determined by the Plan Administrator.

 E. Should the Fair Market Value per share of Common Stock on any Purchase Date within an offering period be less than the
Fair Market Value per share of Common Stock on the start date of that offering period, then the individuals participating in that offering period shall, immediately after the purchase of shares of Common Stock on their behalf on such Purchase Date,
be transferred from that offering period and automatically enrolled in the offering period commencing on the next business day following such Purchase Date, provided and only if the Fair Market Value per share of Common Stock on the start date of
that new offering period is lower than the Fair Market Value per share of Common Stock on the start date of the offering period in which they were currently enrolled. 
  

	 	V.	ELIGIBILITY 

 A. Each
individual who is an Eligible Employee on the start date of an offering period under the Plan may enter that offering period only on such start date. However, an Eligible Employee may participate in only one offering period at a time. For the
initial offering period commencing at the Effective Time, each individual who is an Eligible Employee at that time shall automatically be enrolled as a Participant at a contribution level set at fifteen percent (15%) of his or her Cash
Earnings. 
 B. The date an individual enters an offering period shall be designated his or her Entry Date for purposes of that
offering period. 
 C. Each U.S. corporation that becomes a Corporate Affiliate after the Effective Time shall automatically
become a Participating Corporation effective as of the start date of the first offering date coincident with or next following the date on which it becomes such an affiliate, unless the Plan Administrator determines otherwise prior to the start date
of that offering period. Each non-U.S. corporation that becomes a Corporate Affiliate after the Effective Time shall become a Participating Corporation when authorized by the Plan Administrator to extend the benefits of the Plan to its Eligible
Employees. 
 D. Except as otherwise provided in Sections IV.D and V.A above, the Eligible Employee must, in order to
participate in the Plan for a particular offering period, complete the enrollment forms prescribed by the Plan Administrator (including a stock purchase agreement and a payroll deduction authorization or other authorization form for any other form
of contribution permitted for that offering period) and file such forms with the Plan Administrator (or its designate) on or before his or her scheduled Entry Date. 

  
 4. 

	 	VI.	PAYROLL DEDUCTIONS/OTHER FORMS OF CONTRIBUTION 

 A. For each offering period, the Plan Administrator may allow contributions to the Plan to be effected in the form of periodic payroll deductions or one or more other forms of permitted contribution
specified by the Plan Administrator prior to the start date of the applicable offering period. However, all contributions, whether in the form of payroll deductions or other mode, shall be made solely on the basis of the Participant’s Cash
Earnings for the offering period. Unless the Plan Administrator determines otherwise prior to the start of the applicable offering period: 
 (i) Participant contributions for each offering period shall be solely in the form of payroll deductions, and 
 (ii) the payroll deductions or other form of permitted contribution that each Participant may authorize for purposes of acquiring shares of Common Stock during an offering period may be in any multiple of
one percent (1%) of the Cash Earnings paid to that Participant during each Purchase Interval within such offering period, up to a maximum of fifteen percent (15%), unless the Plan Administrator establishes a different maximum percentage prior
to the start date of the applicable offering period. 
 B. Payroll deductions or other permitted forms of contribution collected
in a currency other than U.S. Dollars shall be converted into U.S. Dollars on the last day of the Purchase Interval in which collected, with such conversion to be based on the exchange rate in effect on such day. The Plan Administrator shall have
absolute discretion to determine the applicable exchange rate to be in effect for such day. 
 C. For the initial Purchase
Interval of the first offering period under the Plan, no payroll deductions or other form of permitted contribution shall be required of any Participant until such time as the Participant affirmatively elects to commence such payroll deductions or
other form of permitted contribution following his or her receipt of the 1933 Act prospectus for the Plan. For such Purchase Interval, the Participant will be required to contribute up to fifteen percent (15%) of his or her Cash Earnings to the
Plan either in a lump sum or one or more installments after receipt of such prospectus and prior to the close of that Purchase Interval should the Participant elect to have shares of Common Stock purchased on his or her behalf on the Purchase Date
for that initial Purchase Interval and his or her limited payroll deductions (if any) for such Purchase Interval not be sufficient to fund the entire purchase price for those shares. 

D. The rate of payroll deduction or other permitted form of contribution shall continue in effect throughout the offering period, except
for changes effected in accordance with the following guidelines: 
 (i) The Participant may, at any time during the offering
period, reduce the rate of his or her payroll deduction or other permitted form of contribution (or the percentage of Cash Earnings to be contributed for the first Purchase Interval of the initial offering period under the Plan) to become effective
as soon as administratively possible after filing the 

  
 5. 

 
appropriate form with the Plan Administrator. The Participant may not, however, effect more than one (1) such reduction per Purchase Interval. 

(ii) The Participant may, at any time during the offering period, increase the rate of his or her payroll deduction or other permitted
form of contribution (up to the maximum percentage limit for that offering period) to become effective as soon as administratively possible after filing the appropriate form with the Plan Administrator. The Participant may not, however, effect more
than one (1) such increase per Purchase Interval. 
 (iii) The Participant may at any time reduce his or her rate of
payroll deduction under the ESPP or other form of permitted contribution to 0%. Such reduction shall become effective as soon as administratively practicable following the filing of the appropriate form with the Plan Administrator. The
Participant’s existing payroll deductions or other permitted form of contribution authorized for the Purchase Interval in which such reduction occurs shall be applied to the purchase of shares of Common Stock on the next scheduled Purchase
Date. 
 E. Except as otherwise provided in Section VI.C above, payroll deductions shall begin on the first pay day
administratively feasible following the Participant’s Entry Date into the offering period and shall (unless sooner terminated by the Participant) continue through the pay day ending with or immediately prior to the last day of that offering
period. To the extent the Plan Administrator permits other forms of contribution for an offering period, those permitted contributions at the level authorized by each affected Participant shall be collected in the manner specified by the Plan
Administrator for that offering period. The payroll deductions or other permitted forms of contribution so collected shall be credited to the Participant’s book account under the Plan, but no interest shall be paid on the balance from time to
time outstanding in such account, unless otherwise required by the terms of that offering period. Unless the Plan Administrator determines otherwise prior to the start of the applicable offering period, the amounts collected from the Participant
shall not be required to be held in any segregated account or trust fund and may be commingled with the general assets of the Corporation and used for any corporate purpose. 
 F. Payroll deductions or other permitted form of contribution authorized by the Participant shall automatically cease upon the termination of the Participant’s purchase right in accordance with the
provisions of the Plan. 
 G. The Participant’s acquisition of Common Stock under the Plan on any Purchase Date shall
neither limit nor require the Participant’s acquisition of Common Stock on any subsequent Purchase Date, whether within the same or a different offering period. 
  

	 	VII.	PURCHASE RIGHTS 

 A.
Grant of Purchase Right. A Participant shall be granted a separate purchase right for each offering period in which he or she participates. The purchase right shall be granted on the Participant’s Entry Date into the offering
period. Unless the Plan Administrator determines otherwise prior to the start date of the applicable offering period and subject to the limitations of Article VIII below, each purchase right granted for an offering

  
 6. 

 
period shall provide the Participant with the right to purchase up to 2,000 shares of Common Stock on each Purchase Date within that offering period for a maximum of 8,000 shares of Common Stock
for an offering period comprised of four Purchase Intervals. The Participant shall execute a stock purchase agreement embodying such terms and such other provisions (not inconsistent with the Plan) as the Plan Administrator may deem advisable. The
same purchase limitations shall be in effect for the initial offering period under the Plan commencing at the Effective Time and for each of the four Purchase Intervals within that initial offering period. 

Under no circumstances shall purchase rights be granted under the Plan to any Eligible Employee if such individual would, immediately
after the grant, own (within the meaning of Code Section 424(d)) or hold outstanding options or other rights to purchase, stock possessing five percent (5%) or more of the total combined voting power or value of all classes of stock of the
Corporation or any Corporate Affiliate. 
 B. Exercise of the Purchase Right. Each purchase right shall be
automatically exercised in installments on each successive Purchase Date within the offering period, and shares of Common Stock shall accordingly be purchased on behalf of each Participant (other than Participants whose payroll deductions or other
authorized contributions have previously been refunded pursuant to the Termination of Purchase Right provisions below) on each such Purchase Date. The purchase shall be effected by applying the Participant’s authorized payroll deductions or
other form of permitted contribution for the Purchase Interval ending on such Purchase Date to the purchase of whole shares of Common Stock at the purchase price in effect for the Participant for that Purchase Date. 

C. Purchase Price. The purchase price per share at which Common Stock will be purchased on the Participant’s behalf on
each Purchase Date within the offering period will be established by the Plan Administrator prior to the start of that offering period, but in no event shall such purchase price be less than eighty-five percent (85%) of the lower of
(i) the Fair Market Value per share of Common Stock on the Participant’s Entry Date into that offering period or (ii) the Fair Market Value per share of Common Stock on that Purchase Date. 

D. Number of Purchasable Shares. The number of shares of Common Stock purchasable by a Participant on each Purchase Date
during the offering period shall be the number of whole shares obtained by dividing the amount collected from the Participant through his or her authorized payroll deductions or other permitted form of contribution during the Purchase Interval
ending with that Purchase Date by the purchase price in effect for the Participant for that Purchase Date. However, the maximum number of shares of Common Stock purchasable per Participant on any one Purchase Date shall be governed by the limitation
set forth in Article VII.A, as adjusted periodically in the event of certain changes in the Corporation’s capitalization. In addition, the maximum number of shares of Common Stock purchasable in total by all Participants on any one Purchase
Date shall not exceed 250,000 shares, subject to periodic adjustments in the event of certain changes in the Corporation’s capitalization. However, the Plan Administrator shall have the discretionary authority, exercisable prior to the start of
any offering period under the Plan, to increase or decrease the limitations to be in effect for the number of shares purchasable per Participant (and the corresponding maximum number of shares purchasable per Participant for that offering period)
and in total by all Participants on each Purchase Date within that offering period. 

  
 7. 

 E. Excess Payroll Deductions/Contributions. Any authorized payroll deductions
or other permitted form of contribution not applied to the purchase of shares of Common Stock on any Purchase Date because they are not sufficient to purchase a whole share of Common Stock shall be held for the purchase of Common Stock on the next
Purchase Date. However, any authorized payroll deductions or other permitted form of contribution not applied to the purchase of Common Stock by reason of the limitation on the maximum number of shares purchasable per Participant or in the aggregate
on the Purchase Date shall be promptly refunded. 
 F. Suspension of Payroll Deductions/Contributions. In the
event that a Participant is, by reason of the accrual limitations in Article VIII, precluded from purchasing additional shares of Common Stock on one or more Purchase Dates during the offering period in which he or she is enrolled, then no further
payroll deductions or other permitted form of contribution authorized by the Participant for that offering period shall be collected from such Participant with respect to those Purchase Dates. The suspension of such deductions or contributions shall
not terminate the Participant’s purchase right for the offering period in which he or she is enrolled, and the Participant’s authorized payroll deductions or other permitted form of contribution shall automatically resume on behalf of such
Participant once he or she is again able to purchase shares during that offering period in compliance with the accrual limitations of Article VIII. 
 G. Termination of Purchase Right. The following provisions shall govern the termination of outstanding purchase rights: 

(i) A Participant may withdraw from the offering period in which he or she is enrolled by filing the appropriate form with the Plan
Administrator (or its designate) at any time prior to the next scheduled Purchase Date in that offering period, and no further payroll deductions or other permitted form of contribution shall be collected from the Participant with respect to the
offering period. Any payroll deductions or other permitted form of contribution authorized by the Participant and collected during the Purchase Interval in which such withdrawal occurs shall, at the Participant’s election, be immediately
refunded or held for the purchase of shares on the next Purchase Date. If no such election is made at the time of such withdrawal, then the payroll deductions or other permitted form of contribution authorized by the Participant and collected with
respect to the Purchase Interval in which such withdrawal occurs shall be refunded to the Participant as soon as possible. 

(ii) The Participant’s withdrawal from the offering period shall be irrevocable, and the Participant may not subsequently rejoin
that offering period. In order to resume participation in any subsequent offering period, such individual must re-enroll in the Plan (by making a timely filing of the prescribed enrollment forms) on or before his or her scheduled Entry Date into
that offering period. 
 (iii) Should the Participant cease to remain an Eligible Employee for any reason (including death,
disability or change in status) while his or her purchase right remains outstanding, then that purchase right shall immediately terminate, and all of the Participant’s authorized payroll deductions or other permitted contributions for the
Purchase Interval in which the purchase right so terminates shall be immediately refunded. However, should the Participant cease to remain in active service by reason of an approved unpaid leave of

  
 8. 

 absence, then the Participant shall have the right, exercisable up until the last business day of the
Purchase Interval in which such leave commences, to (a) withdraw all the payroll deductions or other permitted contributions authorized by the Participant and collected to date on his or her behalf for that Purchase Interval or (b) have
such funds held for the purchase of shares on his or her behalf on the next scheduled Purchase Date. In no event, however, shall any further payroll deductions or other permitted form of contribution be collected on the Participant’s behalf
during such leave. Upon the Participant’s return to active service (x) within three (3) months following the commencement of such leave or (y) prior to the expiration of any longer period for which such Participant is provided
with reemployment rights by statute or contract, his or her authorized payroll deductions or other permitted form of contribution under the Plan shall automatically resume at the rate in effect at the time the leave began, unless the Participant
withdraws from the Plan prior to his or her return. An individual who returns to active employment following a leave of absence which exceeds in duration the applicable (x) or (y) time period above will be treated as a new Employee for
purposes of subsequent participation in the Plan and must accordingly re-enroll in the Plan (by making a timely filing of the prescribed enrollment forms) on or before his or her scheduled Entry Date into the offering period. 

H. Change in Control. Each outstanding purchase right shall automatically be exercised, immediately prior to the effective
date of any Change in Control, by applying the authorized payroll deductions or other permitted contributions of each Participant for the Purchase Interval in which such Change in Control occurs to the purchase of whole shares of Common Stock at the
purchase price per share in effect for that Purchase Internal pursuant to the Purchase Price provisions of Paragraph C of this Article VII. However, the applicable limitation on the number of shares of Common Stock purchasable per Participant shall
continue to apply to any such purchase, but not the limitation applicable to the maximum number of shares of Common Stock purchasable in total by all Participants. 
 The Corporation shall use reasonable efforts to provide at least ten (10)-days prior written notice of the occurrence of any Change in Control, and Participants shall, following the receipt of such
notice, have the right to terminate their outstanding purchase rights prior to the effective date of the Change in Control. 

I. Proration of Purchase Rights. Should the total number of shares of Common Stock to be purchased pursuant to outstanding
purchase rights on any particular date exceed the number of shares then available for issuance under the Plan, the Plan Administrator shall make a pro-rata allocation of the available shares on a uniform and nondiscriminatory basis, and the
authorized payroll deductions or other permitted form of contribution of each Participant, to the extent in excess of the aggregate purchase price payable for the Common Stock pro-rated to such individual, shall be refunded. 

J. ESPP Broker Account. The shares purchased on behalf of each Participant in the United States shall be deposited directly
into a brokerage account which the Corporation shall establish for the Participant at a Corporation-designated brokerage firm. The account will be known as the ESPP Broker Account. Except as otherwise provided below, the deposited shares may not be
transferred (either electronically or in certificate form) from the ESPP Broker Account until the later of the following two periods: (i) the end of the two (2)-year period measured from the Participant’s Entry Date into the
offering period in which the shares 

  
 9. 

 
were purchased and (ii) the end of the one (1)-year measured from the actual purchase date of those shares. Such limitation shall apply both to transfers to different accounts with the same
ESPP broker and to transfers to other brokerage firms. Any shares held for the required holding period may thereafter be transferred (either electronically or in certificate form) to other accounts or to other brokerage firms. 

  
 10.

 The foregoing procedures shall not in any way limit when the Participant may sell his
or her shares. Those procedures are designed solely to assure that any sale of shares prior to the satisfaction of the required holding period is made through the ESPP Broker Account. In addition, the Participant may request a stock
certificate or share transfer from his or her ESPP Broker Account prior to the satisfaction of the required holding period should the Participant wish to make a gift of any shares held in that account. However, shares may not be transferred (either
electronically or in certificate form) from the ESPP Broker Account for use as collateral for a loan, unless those shares have been held for the required holding period. 
 The foregoing procedures shall apply to all shares purchased by each Participant in the United States, whether or not that Participant continues in Employee status. 

K. Assignability. The purchase right shall be exercisable only by the Participant and shall not be assignable or
transferable by the Participant. 
 L. Stockholder Rights. A Participant shall have no stockholder rights with
respect to the shares subject to his or her outstanding purchase right until the shares are purchased on the Participant’s behalf in accordance with the provisions of the Plan and the Participant has become a holder of record of the purchased
shares. 
  

	 	VIII. 	ACCRUAL LIMITATIONS 

 A.
No Participant shall be entitled to accrue rights to acquire Common Stock pursuant to any purchase right outstanding under the Plan if and to the extent such accrual, when aggregated with (i) rights to purchase Common Stock accrued under any
other purchase right granted under the Plan and (ii) similar rights accrued under other employee stock purchase plans (within the meaning of Code Section 423) of the Corporation or any Corporate Affiliate, would otherwise permit such
Participant to purchase more than Twenty-Five Thousand Dollars ($25,000.00) worth of stock of the Corporation or any Corporate Affiliate (determined on the basis of the Fair Market Value per share on the date or dates such rights are granted) for
each calendar year such rights are at any time outstanding. 
 B. For purposes of applying such accrual limitations to the
purchase rights granted under the Plan, the following provisions shall be in effect: 
 (i) The right to acquire Common Stock
under each outstanding purchase right shall accrue in a series of installments on each successive Purchase Date during the offering period on which such right remains outstanding. 

(ii) No right to acquire Common Stock under any outstanding purchase right shall accrue to the extent the Participant has already
accrued in the same calendar year the right to acquire Common Stock under one or more other purchase rights at a rate equal to Twenty-Five Thousand Dollars ($25,000.00) worth of Common Stock (determined on the basis of the Fair Market Value per
share on the date or dates of grant) for each calendar year such rights were at any time outstanding. 

  
 11.

 C. If by reason of such accrual limitations, any purchase right of a Participant does not
accrue for a particular Purchase Interval, then the authorized payroll deductions or other permitted form of contribution which the Participant made during that Purchase Interval with respect to such purchase right shall be promptly refunded.

 D. In the event there is any conflict between the provisions of this Article VIII and one or more provisions of the Plan or
any instrument issued thereunder, the provisions of this Article VIII shall be controlling. 
  

	 	IX.	 EFFECTIVE DATE AND TERM OF THE PLAN 

 A. The Plan shall become effective for the offering period commencing at the Effective Time; provided, however, that (i) the Plan shall have been approved by the stockholders of the Corporation and
(ii) no purchase rights granted under the Plan shall be exercised, and no shares of Common Stock shall be issued hereunder, until the Corporation shall have complied with all applicable requirements of the 1933 Act (including the registration
of the shares of Common Stock issuable under the Plan on a Form S-8 registration statement filed with the Securities and Exchange Commission), all applicable listing requirements of any Stock Exchange (or the Nasdaq Stock Market, if applicable) on
which the Common Stock is listed for trading and all other applicable requirements established by law or regulation. 
 B.
Unless sooner terminated by the Board, the Plan shall terminate upon the earliest of (i) the last business day in April 2021, (ii) the date on which all shares available for issuance under the Plan shall have been sold pursuant to purchase
rights exercised under the Plan or (iii) the date on which all purchase rights are exercised in connection with a Change in Control. No further purchase rights shall be granted or exercised, and no further payroll deductions or other forms of
contribution shall be collected, under the Plan following such termination. 
  

	 	X.	 AMENDMENT OF THE PLAN 

 A. The Board may alter or amend the Plan at any time to become effective as of the start date of the next offering period thereafter under the Plan. In addition, the Board may suspend or terminate the
Plan at any time to become effective immediately following the close of any subsequent Purchase Interval. 
 B. In no event may
the Board effect any of the following amendments or revisions to the Plan without the approval of the Corporation’s stockholders: (i) increase the number of shares of Common Stock issuable under the Plan, except for permissible adjustments
in the event of certain changes in the Corporation’s capitalization or (ii) modify the eligibility requirements for participation in the Plan. 
  

	 	XI.	 GENERAL PROVISIONS 

A. All costs and expenses incurred in the administration of the Plan shall be paid by the Corporation; however, each Plan Participant
shall bear all costs and expenses incurred by such individual in the sale or other disposition of any shares purchased under the Plan. 

  
 12.

 B. Nothing in the Plan shall confer upon the Participant any right to continue in the employ
of the Corporation or any Corporate Affiliate for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Corporation (or any Corporate Affiliate employing such person) or of the Participant, which rights
are hereby expressly reserved by each, to terminate such person’s employment at any time for any reason, with or without cause. 
 C. The provisions of the Plan shall be governed by the laws of the State of California without resort to that State’s conflict-of-laws rules. 

  
 13.

 Schedule A 
 Corporations Participating in 
 the GCT Semiconductor, Inc. 2011

 Employee Stock Purchase Plan 
 As of the Effective Time 
 GCT SEMICONDUCTOR, INC. 

GCT RESEARCH, INC. 
 GCT ASIA PACIFIC, INC. 

 APPENDIX 

The following definitions shall be in effect under the Plan: 
 A. Board shall mean the Corporation’s Board of Directors. 
 B.
Cash Earnings shall, unless otherwise specified by the Plan Administrator prior to the start of an offering period, mean (i) the regular base salary paid to such Participant by one or more Participating Corporations during such
individual’s period of participation in one or more offering periods under the Plan and (ii) any overtime payments, bonuses, commissions, profit-sharing distributions and other incentive-type payments received during such period. Cash
Earnings shall be calculated before deduction of (A) any income or employment tax or other withholdings or (B) any contributions made by the Participant to any Code Section 401(k) salary deferral plan or Code Section 125
cafeteria benefit program now or hereafter established by the Corporation or any Corporate Affiliate. Cash Earnings shall not include any contributions made on the Participant’s behalf by the Corporation or any Corporate Affiliate to any
employee benefit or welfare plan now or hereafter established (other than Code Section 401(k) or Code Section 125 contributions deducted from such Cash Earnings). 
 C. Change in Control shall mean a change in ownership of the Corporation pursuant to any of the following transactions: 

(i) the closing of a merger, consolidation or other reorganization approved by the Corporation’s stockholders in which a change in
ownership or control of the Corporation is effected through the acquisition by any person or group of persons comprising a “group” within the meaning of Rule 13d-5(b)(1) of the 1934 Act (other than the Corporation or a person that, prior
to such transaction, directly or indirectly controls, is controlled by or is under common control with, the Corporation) of beneficial ownership (within the meaning of Rule 13d-3 of the 1934 Act) of securities possessing more than fifty percent
(50%) of the total combined voting power of the Corporation’s outstanding securities (as measured in terms of the power to vote with respect to the election of Board members), 

(ii) the closing of a sale, transfer or other disposition of all or substantially all of the Corporation’s assets, 

(iii) the closing of any transaction or series of related transactions pursuant to which any person or any group of persons comprising a
“group” within the meaning of Rule 13d-5(b)(1) of the 1934 Act (other than the Corporation or a person that, prior to such transaction or series of related transactions, directly or indirectly controls, is controlled by or is under common
control with, the Corporation) acquires directly or indirectly (whether as a result of a single acquisition or by reason of one or more acquisitions within the twelve (12)-month period ending with the most recent acquisition) beneficial ownership
(within the meaning of Rule 13d-3 of the 1934 Act) of securities possessing more than fifty percent (50%) of the total combined voting power of the Corporation’s securities (as measured in terms of the power to vote with respect to the
election of Board members) outstanding immediately after the consummation of such transaction or series of related transactions, whether such transaction 

  
 A-1.

 
involves a direct issuance from the Corporation or the acquisition of outstanding securities held by one or more of the Corporation’s existing stockholders, 

(iv) a merger, recapitalization, consolidation, or other transaction to which the Corporation is a party or the sale, transfer or other
disposition of all or substantially all of the Corporation’s assets if, in either case, the members of the Board immediately prior to consummation of the transaction do not, upon consummation of the transaction, constitute at least a majority
of the board of directors of the surviving entity or the entity acquiring the Corporation’s assets, as the case may be, or a parent thereof, or 
 (v) a change in the composition of the Board over a period of thirty-six (36) consecutive months or less such that a majority of the Board members ceases by reason of one or more contested elections
for Board membership to be comprised of individuals who either (A) have been Board members continuously since the beginning of such period or (B) have been elected or nominated for election as Board members during such period by at least a
majority of the Board members described in clause (A) who were still in office at the time the Board approved such election or nomination. 
 D. Code shall mean the Internal Revenue Code of 1986, as amended. 

E. Common Stock shall mean the Corporation’s common stock. 

F. Corporate Affiliate shall mean any parent or subsidiary corporation of the Corporation (as determined in accordance with
Code Section 424), whether now existing or subsequently established. 
 G. Corporation shall mean GCT
Semiconductor, Inc., a Delaware corporation, and any corporate successor to all or substantially all of the assets or voting stock of GCT Semiconductor, Inc. that shall assume the Plan. 

H. Effective Time shall mean the time at which the underwriting agreement for the initial public offering of the Common
Stock is executed and the price established for the Common Stock to be sold in such offering. Any Corporate Affiliate that becomes a Participating Corporation after such Effective Time shall have a subsequent Effective Time with respect to its
employee-Participants that ion determined in accordance with Section V.C of the Plan. 
 I. Eligible Employee
shall mean any person who is employed by a Participating Corporation on a basis under which he or she is regularly expected to render more than twenty (20) hours of service per week for more than five (5) months per calendar year for
earnings that are considered wages under Code Section 3401 (a); provided, however, that the Plan Administrator may, prior to the start of the applicable offering period, waive one or both of the twenty (20) hour and five (5) month
service requirements. 
 J. Entry Date shall mean the date an Eligible Employee first commences participation in
the offering period in effect under the Plan. The earliest Entry Date under the Plan shall be the Effective Time. 

  
 A-2.

 K. Fair Market Value per share of Common Stock on any relevant date shall be
the closing price per share of Common Stock at the close of regular trading hours (i.e., before after-hours trading begins) on the date in question on the Stock Exchange serving as the primary market for the Common Stock, as such price is reported
by the National Association of Securities Dealers (if primarily traded on the Nasdaq Global or Global Select Market) or as officially quoted in the composite tape of transactions on any other Stock Exchange on which the Common Stock is then
primarily traded. If there is no closing selling price for the Common Stock on the date in question, then the Fair Market Value shall be the closing selling price on the last preceding date for which such quotation exists. 

L. 1933 Act shall mean the Securities Act of 1933, as amended. 

M. 1934 Act shall mean the Securities Exchange Act of 1934, as amended. 

N. Participant shall mean any Eligible Employee of a Participating Corporation who is actively participating in the Plan.

 O. Participating Corporation shall mean the Corporation and such Corporate Affiliate or Affiliates as may be
authorized, in accordance with Section V.C of the Plan, to extend the benefits of the Plan to their Eligible Employees. The Participating Corporations in the Plan as of the Effective Time are listed in attached Schedule A. 

P. Plan shall mean the GCT Semiconductor, Inc. 2011 Employee Stock Purchase Plan, as set forth in this document.

 Q. Plan Administrator shall mean the committee of two (2) or more Board members appointed by the Board to
administer the Plan. 
 R. Purchase Date shall mean the last business day of each Purchase Interval. 

S. Purchase Interval shall mean each successive six (6)-month period within the offering period at the end of which there
shall be purchased shares of Common Stock on behalf of each Participant; provided, however, that the Plan Administrator may, prior to the start of the applicable offering period, designate a different duration for the Purchase Intervals within that
offering period. 
 T. Stock Exchange shall mean the American Stock Exchange, the Nasdaq Global or Global Select
Market or the New York Stock Exchange. 

  
 A-3.Amended and Restated 2011 Incentive Compensation Plan

 Exhibit 10.47 
 GCT SEMICONDUCTOR, INC. 
 2011 INCENTIVE COMPENSATION PLAN

 (Amended and Restated as of December 2, 2011) 

ARTICLE ONE 
 GENERAL PROVISIONS 
  

	 	I.	PURPOSE OF THE PLAN 

 This
Amended and Restated 2011 Incentive Compensation Plan is intended to promote the interests of GCT Semiconductor, Inc., a Delaware corporation, by providing eligible persons in the Corporation’s service with the opportunity to participate in one
or more cash or equity incentive compensation programs designed to encourage them to continue their service relationship with the Corporation. 
 The Plan shall serve as the successor to the Predecessor Plans, and no further stock option grants or other stock-based awards shall be made under the Predecessor Plans on or after the Plan Effective
Date. All option grants outstanding under the Predecessor Plans on the Plan Effective Date shall be transferred to the Plan at that time and shall be treated as outstanding options under the Plan. However, each outstanding option so transferred
shall continue to be governed solely by the terms of the documents evidencing such option, and no provision of the Plan shall be deemed to affect or otherwise modify the rights or obligations of the holders of such transferred options with respect
to their acquisition of shares of Common Stock thereunder. 
 Capitalized terms shall have the meanings assigned to such terms
in the attached Appendix. 
  

	 	II.	STRUCTURE OF THE PLAN 

 A.
The Plan shall be divided into a series of separate incentive compensation programs: 
  

	 	•	 	 the Option/SAR Grant Program under which eligible persons may, at the discretion of the Plan Administrator, be granted options to purchase shares of
Common Stock or stock appreciation rights tied to the value of such Common Stock, 

  

	 	•	 	 the Stock Issuance Program under which eligible persons may, at the discretion of the Plan Administrator, be issued shares of Common Stock pursuant to
restricted stock awards, restricted stock units, performance shares or other stock-based awards which vest upon the completion of a designated service period or the attainment of pre-established performance milestones, or such shares of Common Stock
may be issued through direct purchase or as a bonus for services rendered the Corporation (or any Parent or Subsidiary), 

	 	•	 	 the Incentive Bonus Program under which eligible persons may, at the discretion of the Plan Administrator, be provided with incentive bonus
opportunities through performance unit awards and special cash incentive programs tied to the attainment of pre-established performance milestones, and 

 

	 	•	 	 the Automatic Grant Program under which eligible non-employee Board members will automatically receive equity-based awards at designated intervals over
their period of continued Board service. 

 B. The provisions of Articles One and Six shall apply to all
incentive compensation programs under the Plan and shall govern the interests of all persons under the Plan. 
  

	 	III.	ADMINISTRATION OF THE PLAN 

A. The Compensation Committee (whether acting directly or through a subcommittee of two or more members thereof) shall have sole and
exclusive authority to administer the Discretionary Grant, Stock Issuance and Incentive Bonus Programs with respect to Section 16 Insiders. Administration of the Discretionary Grant, Stock Issuance and Incentive Bonus Programs with respect to
all other persons eligible to participate in those programs may, at the Board’s discretion, be vested in the Compensation Committee or a Secondary Board Committee, or the Board may retain the power to administer those programs with respect to
such persons. All Awards to non-employee Board members (other than pursuant to the Automatic Grant Program) shall be made by the Compensation Committee (or subcommittee thereof) which shall at the time of any such Award be comprised solely of two or
more independent Board members, as determined in accordance with the independence standards established by the Stock Exchange on which the Common Stock is at the time primarily traded. 

B. Members of the Compensation Committee or any Secondary Board Committee shall serve for such period of time as the Board may determine
and may be removed by the Board at any time. The Board may also at any time terminate the functions of any Secondary Board Committee and reassume all powers and authority previously delegated to such committee. 

C. Each Plan Administrator shall, within the scope of its administrative functions under the Plan, have full power and authority (subject
to the provisions of the Plan) to establish such rules and regulations as it may deem appropriate for proper administration of the Discretionary Grant, Stock Issuance and Incentive Bonus Programs and to make such determinations under, and issue such
interpretations of, the provisions of those programs and any outstanding Awards thereunder as it may deem necessary or advisable. Decisions of the Plan Administrator within the scope of its administrative functions under the Plan shall be final and
binding on all parties who have an interest in the Discretionary Grant, Stock Issuance and Incentive Bonus Programs under its jurisdiction or any Award thereunder. 

  
 2 

 D. Administration of the Automatic Grant Program shall be self-executing in accordance with
the terms of that program, and no Plan Administrator shall exercise any discretionary functions with respect to any Awards made under that program, except that the Compensation Committee (or subcommittee thereof) shall have the express authority to
establish from time to time the applicable dollar amount to serve as the grant-date fair value of the initial and annual Awards to be made to the non-employee Board members in accordance with the maximum dollar values established for those Awards
under Article Five. 
 E. Service as a Plan Administrator by the members of the Compensation Committee or the Secondary Board
Committee shall constitute service as Board members, and the members of each such committee shall accordingly be entitled to full indemnification and reimbursement as Board members for their service on such committee. No member of the Compensation
Committee or the Secondary Board Committee shall be liable for any act or omission made in good faith with respect to the Plan or any Award thereunder. 
  

	 	IV.	ELIGIBILITY 

 A. The
persons eligible to participate in the Plan are as follows: 
 (i) Employees, 

(ii) non-employee members of the Board or the board of directors of any Parent or Subsidiary, and 

(iii) consultants and other independent advisors who provide services to the Corporation (or any Parent or Subsidiary).

 B. The Plan Administrator shall have full authority to determine, (i) with respect to Awards made under the Option/SAR
Grant Program, which eligible persons are to receive such Awards, the time or times when those Awards are to be made, the number of shares to be covered by each such Award, the time or times when the Award is to become exercisable, the vesting
schedule (if any) applicable to the Award, the maximum term for which such Award is to remain outstanding and the status of a granted option as either an Incentive Option or a Non-Statutory Option; (ii) with respect to Awards under the Stock
Issuance Program, which eligible persons are to receive such Awards, the time or times when the Awards are to be made, the number of shares subject to each such Award, the vesting and issuance schedules applicable to the shares which are the subject
of such Award, the cash consideration (if any) payable for those shares and the form (cash or shares of Common Stock) in which the Award is to be settled; and (iii) with respect to Awards under the Incentive Bonus Program, which eligible
persons are to receive such Awards, the time or times when the Awards are to be made, the performance objectives for each such Award, the amounts payable at designated levels of attained performance, any applicable service vesting requirements, the
payout schedule for each such Award and the form (cash or shares of Common Stock) in which the Award is to be settled. 
 C. The
individuals who shall be eligible to participate in the Automatic Grant Program shall be limited to (i) those individuals who first become non-employee Board members on or after the Plan Effective Date, whether through appointment by the Board
or election by the Corporation’s stockholders and (ii) those individuals who continue to serve as non-employee 

  
 3 

 
Board members on or after the Plan Effective Date. A non-employee Board member who has previously been in the employ of the Corporation (or any Parent or Subsidiary) shall not be eligible to
receive a grant under the Automatic Grant Program at the time he or she first becomes a non-employee Board member, but shall be eligible to receive periodic grants under the Automatic Grant Program while he or she continues to serve as a
non-employee Board member. 
  

	 	V.	STOCK SUBJECT TO THE PLAN 

A. The stock issuable under the Plan shall be shares of authorized but unissued or reacquired Common Stock. The number of shares of Common
Stock initially reserved for issuance over the term of the Plan shall be limited to 56,500,000 shares, subject to adjustment from time to time pursuant to the provisions of Section V.G of this Article One. Such share reserve shall consist of
(i) the number of shares of Common Stock estimated to be available for issuance, as of the Plan Effective Date, under the Predecessor Plans as last approved by the Corporation’s stockholders, including the shares of Common Stock subject to
outstanding options under the Predecessor Plans that are transferred to the Plan in accordance with the provisions of Section IV.B of Article Six, plus (ii) an additional increase of approximately 2,390,000 shares to be approved by the
Corporation’s stockholders prior to the date the underwriting agreement for the initial public offering of the Common Stock is executed. 
 B. The number of shares of Common Stock available for issuance under the Plan shall automatically increase on the first trading day in July each calendar year during the term of the Plan, beginning with
the 2012 calendar year, by an amount equal to five percent (5%) of the total number of shares of Common Stock actually outstanding on the last trading day in the immediately preceding calendar month, but in no event shall any such annual
increase exceed 22,500,000 shares. 
 C. The maximum number of shares of Common Stock which may be issued under the Plan
pursuant to Incentive Options shall not exceed 56,500,000 shares in the aggregate, subject to adjustment from time to time under Section V.G of this Article One. Such share limitation shall automatically be increased on the first trading day in July
each calendar year, beginning with the 2012 calendar year, by the number of shares of Common Stock added to the share reserve on that day pursuant to the provisions of Section V.B of this Article One. 

D. The maximum number of shares of Common Stock for which Awards denominated in shares of Common Stock (whether payable in Common Stock,
cash or a combination of both) may be made to any individual Participant in any fiscal year of the Corporation shall not exceed in the aggregate 5,000,000 shares of Common Stock. 

E. Shares of Common Stock subject to outstanding Awards under the Plan (including options transferred to the Plan from the Predecessor
Plans pursuant to Section IV.B of Article Six) shall be available for subsequent award and issuance under the Plan to the extent those Awards expire, are forfeited or cancelled or terminate for any reason prior to the issuance of the shares of
Common Stock subject to those Awards. Unvested shares issued under the Plan and subsequently forfeited or repurchased by the Corporation, at a price per share not greater than the original issue price paid per share, pursuant to the
Corporation’s repurchase rights under 

  
 4 

 
the Plan shall be added back to the number of shares of Common Stock reserved for issuance under the Plan and shall accordingly be available for subsequent reissuance. 

F. Should the exercise price of an option under the Plan be paid with shares of Common Stock (whether through the withholding of a
portion of the otherwise issuable shares or through the tender of actual outstanding shares), then the authorized reserve of Common Stock under the Plan shall be reduced by the gross number of shares for which that option is exercised, and not by
the net number of shares issued under the exercised stock option. Upon the exercise of any stock appreciation right under the Plan, the share reserve shall be reduced by the gross number of shares as to which such right is exercised, and not by the
net number of shares actually issued by the Corporation upon such exercise. If shares of Common Stock otherwise issuable under the Plan are withheld by the Corporation in satisfaction of the withholding taxes incurred in connection with the
issuance, vesting or settlement of an Award, then the number of shares of Common Stock available for issuance under the Plan shall be reduced on the basis of the gross number of shares issued, vested or settled under such Award, calculated in each
instance prior to any such share withholding. 
 G. Should any change be made to the Common Stock by reason of any stock split,
stock dividend, recapitalization, combination of shares, exchange of shares, spin-off transaction or other change affecting the outstanding Common Stock as a class without the Corporation’s receipt of consideration, or should the value of
outstanding shares of Common Stock be substantially reduced as a result of a spin-off transaction or an extraordinary dividend or distribution, or should there occur any merger, consolidation or other reorganization (including, without limitation, a
Change in Control transaction), then equitable adjustments shall be made by the Plan Administrator to (i) the maximum number and/or class of securities issuable under the Plan, (ii) the maximum number and class of securities by which the
share reserve is to increase automatically each calendar year pursuant to the provisions of Section V.B of this Article One, (iii) the maximum number and/or class of securities that may be issued under the Plan pursuant to Incentive Options and
the maximum number and/or class of securities by which that limitation will automatically increase each calendar year, (iv) the maximum number and/or class of securities for which any one person may be granted Awards denominated in shares of
Common Stock per fiscal year, (v) the number and/or class of securities and the exercise or base price per share in effect under each outstanding Award under the Discretionary Grant Program, including outstanding options transferred to the Plan
from the Predecessor Plans, (vi) the number and/or class of securities subject to each outstanding Award under the Stock Issuance Program and the cash consideration (if any) payable per share, (vii) the number and/or class of securities
subject to each outstanding Award under the Automatic Grant Program and any exercise or base price per share in effect for such Award, (viii) the number and/or class of securities subject to each outstanding Award under the Incentive Bonus
Program denominated in shares of Common Stock and (ix) the number and/or class of securities subject to the Corporation’s outstanding repurchase rights under the Plan and the repurchase price payable per share. The adjustments shall be
made in such manner as the Plan Administrator deems appropriate and such adjustments shall be final, binding and conclusive. 

  
 5 

 H. Outstanding Awards granted pursuant to the Plan shall in no way affect the right of the
Corporation to adjust, reclassify, reorganize or otherwise change its capital or business structure or to merge, consolidate, dissolve, liquidate or sell or transfer all or any part of its business or assets. 

  
 6 

 ARTICLE TWO 
 OPTION/SAR GRANT PROGRAM 
  

	 	I.	OPTION TERMS 

 Each option
shall be evidenced by one or more documents in the form approved by the Plan Administrator; provided, however, that each such document shall comply with the terms specified below. Each document evidencing an Incentive
Option shall, in addition, be subject to the provisions of the Plan applicable to such options. 
  

	 	A.	Exercise Price. 

1. The exercise price per share shall be fixed by the Plan Administrator at the time of the Award; provided, however, that
such exercise price shall not be less than one hundred percent (100%) of the Fair Market Value per share of Common Stock on the grant date. 
 2. The exercise price shall become immediately due upon exercise of the option and shall, subject to the provisions of the documents evidencing the option, be payable in one or more of the forms specified
below: 
 (i) cash or check made payable to the Corporation, 

(ii) shares of Common Stock (whether delivered in the form of actual stock certificates or through attestation of
ownership) held for the requisite period (if any) necessary to avoid any resulting charge to the Corporation’s earnings for financial reporting purposes and valued at Fair Market Value on the Exercise Date, 

(iii) shares of Common Stock otherwise issuable under the option but withheld by the Corporation in satisfaction of the
exercise price, with such withheld shares to be valued at Fair Market Value on the exercise date, and 
 (iv) to
the extent the option is exercised for vested shares following the initial public offering of the Common Stock, through a special sale and remittance procedure pursuant to which the Optionee shall concurrently provide instructions to (a) a
brokerage firm (reasonably satisfactory to the Corporation for purposes of administering such procedure in compliance with the Corporation’s pre-clearance/pre-notification policies) to effect the immediate sale of the purchased shares and remit
to the Corporation, out of the sale proceeds available on the settlement date, sufficient funds to cover the aggregate exercise price payable for the purchased shares plus all applicable income and employment taxes required to be withheld by the
Corporation by reason of such exercise and (b) the Corporation to deliver the certificates for the 

  
 7 

 
purchased shares directly to such brokerage firm on such settlement date in order to complete the sale. 
 Except to the extent such sale and remittance procedure is utilized, payment of the exercise price for the purchased shares must be made on the Exercise Date. 

 

	 	B.	Exercise and Term of Options. 

 1. Each option shall be exercisable at such time or times, during such period and for such number of shares as shall be determined by the Plan Administrator and set forth in the documents evidencing the
option. However, no option shall have a term in excess of ten (10) years measured from the option grant date. 
 2. The
Plan Administrator shall also have the discretionary authority to structure one or more Awards under the Option/SAR Grant Program so that those Awards shall vest and become exercisable only after the achievement of pre-established corporate
performance objectives based on one or more Performance Goals and measured over the performance period specified by the Plan Administrator at the time of the Award. 
  

	 	C.	Effect of Termination of Service. 

 1. The following provisions shall govern the exercise of any options granted pursuant to the Option/SAR Grant Program that are outstanding at the time of the Optionee’s cessation of Service or death:

 (i) Any option outstanding at the time of the Optionee’s cessation of Service for any reason shall
remain exercisable for such period of time thereafter as shall be determined by the Plan Administrator and set forth in the documents evidencing the option, but no such option shall be exercisable after the expiration of the option term. 

(ii) Any option held by the Optionee at the time of the Optionee’s death and exercisable in whole or in part at that
time may be subsequently exercised by the personal representative of the Optionee’s estate or by the person or persons to whom the option is transferred pursuant to the Optionee’s will or the laws of inheritance or by the Optionee’s
designated beneficiary or beneficiaries of that option. 
 (iii) Should the Optionee’s Service be
terminated for Cause or should the Optionee otherwise engage in conduct constituting grounds for a termination for Cause while holding one or more outstanding options granted under the Option/SAR Grant Program, then all of those options shall
terminate immediately and cease to be outstanding. 
 (iv) During the applicable post-Service exercise period,
the option may not be exercised in the aggregate for more than the number of vested shares for which the option is at the time exercisable; provided, however, that one or more options under the Option/SAR Grant Program may be
structured 

  
 8 

 
so that those options will continue to vest in whole or part during the applicable post-Service exercise period. Upon the expiration of the applicable exercise period or (if earlier) upon the
expiration of the option term, the option shall terminate and cease to be outstanding for any shares for which the option has not been exercised. 
 2. The Plan Administrator shall have complete discretion, exercisable either at the time an option is granted or at any time while the option remains outstanding, to: 

(i) extend the period of time for which the option is to remain exercisable following the Optionee’s cessation of
Service from the limited exercise period otherwise in effect for that option to such greater period of time as the Plan Administrator shall deem appropriate, but in no event beyond the expiration of the option term, 

(ii) include an automatic extension provision whereby the specified post-Service exercise period in effect for any option
granted under the Option/SAR Grant Program shall automatically be extended by an additional period of time equal in duration to any interval within the specified post-Service exercise period during which the exercise of that option or the immediate
sale of the shares acquired under such option could not be effected in compliance with the applicable registration requirements of federal and state securities laws, but in no event shall such an extension result in the continuation of such option
beyond the expiration date of the term of that option, and/or 
 (iii) permit the option to be exercised, during
the applicable post-Service exercise period, not only with respect to the number of vested shares of Common Stock for which such option is exercisable at the time of the Optionee’s cessation of Service but also with respect to one or more
additional installments in which the Optionee would have vested had the Optionee continued in Service. 
 D. Stockholder
Rights. The holder of an option shall have no stockholder rights with respect to the shares subject to the option until such person shall have exercised the option, paid the exercise price and become a holder of record of the purchased
shares. 
 E. Repurchase Rights. The Plan Administrator shall have the discretion to grant options which are
exercisable for unvested shares of Common Stock. Should the Optionee cease Service while such shares are unvested, the Corporation shall have the right to repurchase any or all of those unvested shares at a price per share equal to the
lower of (i) the exercise price paid per share or (ii) the Fair Market Value per share of Common Stock at the time of repurchase. The terms upon which such repurchase right shall be exercisable (including the period and
procedure for exercise and the appropriate vesting schedule for the purchased shares) shall be established by the Plan Administrator and set forth in the document evidencing such repurchase right. 

  
 9 

 F. Transferability of Options. The transferability of options granted under
the Plan shall be governed by the following provisions: 
 (i) Incentive Options: During the lifetime of the
Optionee, Incentive Options shall be exercisable only by the Optionee and shall not be assignable or transferable other than by will or the laws of inheritance following the Optionee’s death. 

(ii) Non-Statutory Options. Non-Statutory Options shall be subject to the same limitation on transfer as Incentive
Options, except that the Plan Administrator may structure one or more Non-Statutory Options so that the option may be transferred gratuitously in whole or in part during the Optionee’s lifetime to one or more Family Members of the Optionee or
to a trust established exclusively for the Optionee and/or such Family Members or may be transferred to one or more Family Member pursuant to a domestic relations order. The transferred portion may only be exercised by the person or persons who
acquire a proprietary interest in the option pursuant to the transfer. The terms applicable to the transferred portion shall be the same as those in effect for the option immediately prior to such transfer. 

(iii) Beneficiary Designations. Notwithstanding the foregoing, the Optionee may designate one or more persons as the
beneficiary or beneficiaries of his or her outstanding options under the Discretionary Grant Program (whether Incentive Options or Non-Statutory Options), and those options shall, in accordance with such designation, automatically be transferred to
such beneficiary or beneficiaries upon the Optionee’s death while holding those options. Such beneficiary or beneficiaries shall take the transferred options subject to all the terms and conditions of the applicable agreement evidencing each
such transferred option, including (without limitation) the limited time period during which the option may be exercised following the Optionee’s death. 
  

	 	II.	INCENTIVE OPTIONS 

 The
terms specified below shall be applicable to all Incentive Options. Except as modified by the provisions of this Section II, all the provisions of Articles One, Two and Six shall be applicable to Incentive Options. Options which are specifically
designated as Non-Statutory Options when issued under the Plan shall not be subject to the terms of this Section II. 

A. Eligibility. Incentive Options may only be granted to Employees. 

B. Dollar Limitation. The aggregate Fair Market Value of the shares of Common Stock (determined as of the respective date
or dates of grant) for which one or more options granted to any Employee under the Plan (or any other option plan of the Corporation or any Parent or Subsidiary) may for the first time become exercisable as Incentive Options during any one calendar
year shall not exceed the sum of One Hundred Thousand Dollars ($100,000). 
 To the extent the Employee holds two (2) or
more such options which become exercisable for the first time in the same calendar year, then for purposes of the foregoing limitations on the exercisability of those options as Incentive Options, such options shall be deemed to become first
exercisable in that calendar year on the basis of the chronological order in which they were granted, except to the extent otherwise provided under applicable law or regulation. 

  
 10 

 C. 10% Stockholder. If any Employee to whom an Incentive Option is granted is
a 10% Stockholder, then the exercise price per share shall not be less than one hundred ten percent (110%) of the Fair Market Value per share of Common Stock on the grant date, and the option term shall not exceed five (5) years measured
from the grant date. 
  

	 	III.	STOCK APPRECIATION RIGHTS 

A. Authority. The Plan Administrator shall have full power and authority, exercisable in its sole discretion, to grant stock
appreciation rights in accordance with this Section III to selected Optionees or other individuals eligible to receive Awards under the Option/SAR Grant Program. 
 B. Types. Two types of stock appreciation rights shall be authorized for issuance under this Section III: (i) tandem stock appreciation rights (“Tandem Rights”) and
(ii) stand-alone stock appreciation rights (“Stand-alone Rights”). 
 C. Tandem Rights. The
following terms and conditions shall govern the grant and exercise of Tandem Rights. 
 1. One or more Optionees may be granted
a Tandem Right, exercisable upon such terms and conditions as the Plan Administrator may establish, to elect between the exercise of the underlying option for shares of Common Stock or the surrender of that option in exchange for a distribution from
the Corporation in an amount equal to the excess of (i) the Fair Market Value (on the option surrender date) of the number of shares in which the Optionee is at the time vested under the surrendered option (or surrendered portion thereof) over
(ii) the aggregate exercise price payable for such vested shares. 
 2. Any distribution to which the Optionee becomes
entitled upon the exercise of a Tandem Right may be made in (i) shares of Common Stock valued at Fair Market Value on the option surrender date, (ii) cash or (iii) a combination of cash and shares of Common Stock, as specified in the
applicable Award agreement. 
 D. Stand-Alone Rights. The following terms and conditions shall govern the grant
and exercise of Stand-alone Rights: 
 1. One or more individuals eligible to participate in the Option/SAR Grant Program may
be granted a Stand-alone Right not tied to any underlying option. The Stand-alone Right shall relate to a specified number of shares of Common Stock and shall be exercisable upon such terms and conditions as the Plan Administrator may establish. In
no event, however, may the Stand-alone Right have a maximum term in excess of ten (10) years measured from the grant date. 
 2. Upon exercise of the Stand-alone Right, the holder shall be entitled to receive a distribution from the Corporation in an amount equal to the excess of (i) the aggregate Fair Market Value (on the
exercise date) of the shares of Common Stock underlying the exercised right over (ii) the aggregate base price in effect for those shares. 

  
 11 

 3. The number of shares of Common Stock underlying each Stand-alone Right and the base
price in effect for those shares shall be determined by the Plan Administrator in its sole discretion at the time the Stand-alone Right is granted. In no event, however, may the base price per share be less than the Fair Market Value per underlying
share of Common Stock on the grant date. 
 4. Stand-alone Rights shall be subject to the same transferability restrictions
applicable to Non-Statutory Options and may not be transferred during the holder’s lifetime, except for a gratuitous transfer to one or more Family Members of the holder or to a trust established for the holder and/or one or more such Family
Members or a transfer to one or more such Family Members pursuant to a domestic relations order covering the Stand-alone Right as marital property. In addition, one or more beneficiaries may be designated for an outstanding Stand-alone Right in
accordance with substantially the same terms and provisions as set forth in Section I.F of this Article Two. 
 5. The
distribution with respect to an exercised Stand-alone Right may be made in (i) shares of Common Stock valued at Fair Market Value on the exercise date, (ii) cash or (iii) a combination of cash and shares of Common Stock, as specified
in the applicable Award agreement. 
 6. The holder of a Stand-alone Right shall have no stockholder rights with respect to the
shares subject to the Stand-alone Right unless and until such person shall have exercised the Stand-alone Right and become a holder of record of the shares of Common Stock issued upon the exercise of such Stand-alone Right. 

E. Post-Service Exercise. The provisions governing the exercise of Tandem and Stand-alone Rights following the cessation of
the recipient’s Service shall be substantially the same as those set forth in Section I.C.1 of this Article Two for the options granted under the Option/SAR Grant Program, and the Plan Administrator’s discretionary authority under Section
I.C.2 of this Article Two shall also extend to any outstanding Tandem or Stand-alone Appreciation Rights. 
  

	 	IV.	CHANGE IN CONTROL 

 A. In
the event of an actual Change in Control transaction, each outstanding Award under the Option/SAR Grant Program may be (i) assumed by the successor corporation (or parent thereof) or otherwise continued in full force and effect pursuant to the
terms of the Change in Control transaction or (ii) replaced with a cash incentive program of the successor corporation which preserves the spread existing at the time of the Change in Control on any shares as to which the Award is not otherwise
at that time exercisable and provides for the subsequent vesting and concurrent payment of that spread in accordance with the same exercise/vesting schedule in effect for that Award, but only if such replacement cash program would not result in the
treatment of the Award as an item of deferred compensation subject to Code Section 409A. However, to the extent the Award is not to be so assumed, continued or replaced, that Award shall immediately prior to the effective date of the Change in
Control transaction, become exercisable as to all the shares of Common Stock at the time subject to that Award and may be exercised as to any or all of those shares as fully vested shares of Common

  
 12 

 
Stock, unless the acceleration of such Award is subject to other limitations imposed by the Plan Administrator. Notwithstanding the foregoing, any Award outstanding under the Discretionary Grant
Program on the date of such Change in Control shall be subject to cancellation and termination, without cash payment or other consideration due the Award holder, if the Fair Market Value per share of Common Stock on such date of the Change in
Control (or any earlier date specified in the definitive agreement for the Change in Control transaction) is less than the per share exercise or base price in effect for such Award. 

B. All repurchase rights outstanding under the Option/SAR Grant Program shall automatically terminate, and the shares of Common Stock
subject to those terminated rights shall vest in full, immediately prior to the effective date of an actual Change in Control transaction, except to the extent: (i) those repurchase rights are to be assigned to the successor corporation (or
parent thereof) or are otherwise to continue in full force and effect pursuant to the terms of the Change in Control transaction or (ii) such accelerated vesting is precluded by other limitations imposed by the Plan Administrator. 

C. Immediately following the consummation of the Change in Control, all outstanding Awards under the Option/SAR Grant Program shall
terminate and cease to be outstanding, except to the extent assumed by the successor corporation (or parent thereof) or otherwise continued in full force and effect pursuant to the terms of the Change in Control transaction. 

D. Each Award under the Option/SAR Grant Program that is assumed in connection with a Change in Control or otherwise continued in effect
shall be appropriately adjusted, immediately after such Change in Control, to apply to the number and class of securities into which the shares of Common Stock subject to that Award would have been converted in consummation of such Change in Control
had those shares actually been outstanding at that time. Appropriate adjustments to reflect such Change in Control shall also be made to the exercise or base price per share in effect under each outstanding Award, provided the aggregate
exercise or base price in effect for such securities shall remain the same. To the extent the actual holders of the Corporation’s outstanding Common Stock receive cash consideration for their Common Stock in consummation of the Change in
Control, the successor corporation may, in connection with the assumption or continuation of the outstanding Awards under the Option/SAR Grant Program and with the consent of the Plan Administrator obtained prior to the Change in Control,
substitute, for the securities underlying those assumed rights, one or more shares of its own common stock with a fair market value equivalent to the cash consideration paid per share of Common Stock in such Change in Control transaction, provided
such common stock is readily traded on an established U.S. securities exchange or market. 
 E. The Plan Administrator shall
have the discretionary authority to structure one or more outstanding Awards under the Option/SAR Grant Program so that those Awards shall, immediately prior to the effective date of an actual Change in Control transaction, become exercisable as to
all the shares of Common Stock at the time subject to those Awards and may be exercised as to any or all of those shares as fully vested shares of Common Stock, whether or not those Awards are to be assumed in the Change in Control transaction or
otherwise continued in effect. In addition, the Plan Administrator shall have the discretionary authority to structure one or more of the Corporation’s repurchase rights under the Option/SAR Grant Program so that

  
 13 

 
those rights shall terminate immediately prior to the effective date of an actual Change in Control transaction, and the shares subject to those terminated rights shall thereupon vest in full.

 F. The Plan Administrator shall have full power and authority to structure one or more outstanding Awards under the
Option/SAR Grant Program so that those Awards shall become exercisable as to all the shares of Common Stock at the time subject to those Awards in the event the Optionee’s Service is subsequently terminated by reason of an Involuntary
Termination within a designated period (not to exceed twenty-four (24) months) following the effective date of any Change in Control transaction in which those Awards do not otherwise fully accelerate. In addition, the Plan Administrator may
structure one or more of the Corporation’s repurchase rights so that those rights shall immediately terminate with respect to any shares held by the Optionee at the time of such Involuntary Termination, and the shares subject to those
terminated repurchase rights shall accordingly vest in full at that time. 
 G. The portion of any Incentive Option accelerated
in connection with a Change in Control shall remain exercisable as an Incentive Option only to the extent the applicable One Hundred Thousand Dollar ($100,000) limitation is not exceeded. To the extent such dollar limitation is exceeded, the
accelerated portion of such option shall be exercisable as a Non-statutory Option under the Federal tax laws. 
  

	 	V.	REPRICING PROGRAMS 

 The
Plan Administrator shall have the discretionary authority, exercisable on such terms and conditions that it deems appropriate under the circumstances, to (i) implement cancellation/regrant programs pursuant to which outstanding options or stock
appreciation rights under the Plan are cancelled and new options or stock appreciation rights are granted in replacement with a lower exercise or base price per share, (ii) cancel outstanding options or stock appreciation rights under the Plan
with exercise or base prices per share in excess of the then current Fair Market Value per share of Common Stock for consideration payable in cash or in equity securities of the Corporation or (iii) reduce the exercise or base price in effect
for outstanding options or stock appreciation rights under the Plan. 

  
 14 

 ARTICLE THREE 

STOCK ISSUANCE PROGRAM 
  

	 	I.	STOCK ISSUANCE TERMS 

Shares of Common Stock may be issued in accordance with the terms of the Stock Issuance Program. Each such stock issuance shall be
evidenced by a Stock Issuance Agreement which complies with the terms specified below. 
  

	 	A.	Issue Price. 

 1.
Shares of Common Stock may be issued under the Stock Issuance Program for any of the following items of consideration which the Plan Administrator may deem appropriate in each individual instance: 

(i) cash or check made payable to the Corporation, 

(ii) past services rendered to the Corporation (or any Parent or Subsidiary); or 

(iii) any other valid consideration under the State in which the Corporation is at the time incorporated. 

However, if the consideration for the shares is to be paid in the form of a cash purchase price, then the cash consideration payable per
share shall not be less than one hundred percent (100%) of the Fair Market Value per share of Common Stock on the issuance date. 
  

	 	B.	Vesting Provisions. 

 1. Shares of Common Stock issued under the Stock Issuance Program may, in the discretion of the Plan Administrator, be fully and immediately vested upon issuance as a bonus for Service rendered or may
vest in one or more installments over the Participant’s period of Service or upon the attainment of specified performance objectives tied to one or more Performance Goals. The elements of the vesting schedule applicable to any unvested shares
of Common Stock issued under the Stock Issuance Program shall be determined by the Plan Administrator and incorporated into the Stock Issuance Agreement. Shares of Common Stock may also be issued under the Stock Issuance Program pursuant to
performance shares, restricted stock units or other stock-based Awards which entitle the recipients to receive the shares underlying those Awards upon the attainment of designated performance objectives tied to one or more Performance Goals or the
satisfaction of specified Service requirements or upon the expiration of a designated time period following the vesting of those Awards, including (without limitation) a deferred distribution date following the termination of the Participant’s
Service. 
 2. Any new, substituted or additional securities or other property (including money paid other than as a regular
cash dividend) which the Participant may have the 

  
 15 

 
right to receive with respect to the Participant’s unvested shares of Common Stock by reason of any stock dividend, stock split, recapitalization, combination of shares, exchange of shares,
spin-off transaction, extraordinary dividend or distribution or other change affecting the outstanding Common Stock as a class without the Corporation’s receipt of consideration shall be issued subject to (i) the same vesting requirements
applicable to the Participant’s unvested shares of Common Stock and (ii) such escrow arrangements as the Plan Administrator shall deem appropriate. Equitable adjustments to reflect each such transaction shall also be made by the Plan
Administrator to the repurchase price payable per share by the Corporation for any unvested securities subject to its existing repurchase rights under the Plan; provided the aggregate repurchase price shall in each instance remain the same.

 3. The Participant shall have full stockholder rights with respect to any shares of Common Stock issued to the Participant
under the Stock Issuance Program, whether or not the Participant’s interest in those shares is vested. Accordingly, the Participant shall have the right to vote such shares and to receive any dividends paid on such shares, subject to any
applicable vesting requirements. The Participant shall not have any stockholder rights with respect to the shares of Common Stock subject to a performance share or restricted stock unit Award until that Award vests and the shares of Common Stock are
actually issued thereunder. However, dividend-equivalent units may be paid or credited, either in cash or in actual or phantom shares of Common Stock, on outstanding Awards of performance shares, restricted stock units or other stock-based Awards
under the Stock Issuance Program, subject to such terms and conditions as the Plan Administrator may deem appropriate. 
 4.
Should the Participant cease to remain in Service while holding one or more unvested shares of Common Stock issued under the Stock Issuance Program or should the performance objectives not be attained with respect to one or more such unvested shares
of Common Stock, then those shares shall be immediately surrendered to the Corporation for cancellation, and the Participant shall have no further stockholder rights with respect to those shares. To the extent the surrendered shares were previously
issued to the Participant for consideration paid in cash or cash equivalent, the Corporation shall repay to the Participant the lower of (i) the cash consideration paid for the surrendered shares or (ii) the Fair Market Value
of those shares at the time of cancellation. 
 5. The Plan Administrator may in its discretion waive the surrender and
cancellation of one or more unvested shares of Common Stock which would otherwise occur upon the cessation of the Participant’s Service or the non-attainment of the performance objectives applicable to those shares. Any such waiver shall result
in the immediate vesting of the Participant’s interest in the shares of Common Stock as to which the waiver applies. 
 6.
Outstanding Awards of performance shares, restricted stock units or other stock-based Awards under the Stock Issuance Program shall automatically terminate, and no shares of Common Stock shall actually be issued in satisfaction of those Awards, if
the performance objectives or Service requirements established for those Awards are not attained or satisfied. The Plan Administrator, however, shall have the discretionary authority to waive such vesting requirements and issue vested shares of
Common Stock under one or more outstanding Awards of performance shares, restricted stock units or other stock-based Awards as to which 

  
 16 

 
the designated performance objectives or Service requirements have not been attained or satisfied. 
 7. The following additional requirements shall be in effect for any performance shares awarded under this Article Three: 

(i) At the end of the performance period, the Plan Administrator shall determine the actual level of attainment for each
performance objective and the extent to which the performance shares awarded for that period are to vest and become payable based on the attained performance levels. 

(ii) The performance shares which so vest shall be paid as soon as practicable following the end of the performance
period, unless such payment is to be deferred for the period specified by the Plan Administrator at the time the performance shares are awarded or the period selected by the Participant in accordance with the applicable requirements of Code
Section 409A. 
 (iii) Performance shares may be paid in (i) cash, (ii) shares of Common Stock or
(iii) any combination of cash and shares of Common Stock, as set forth in the applicable Award Agreement. 

(iv) Performance shares may also be structured so that the shares are convertible into shares of Common Stock, but the
rate at which each performance share is to so convert shall be based on the attained level of performance for each applicable performance objective. 
  

	 	II.	CHANGE IN CONTROL 

 A.
Each Award outstanding under the Stock Issuance Program on the effective date of an actual Change in Control transaction may be (i) assumed by the successor corporation (or parent thereof) or otherwise continued in full force and effect
pursuant to the terms of the Change in Control transaction or (ii) replaced with a cash incentive program of the successor corporation which preserves the Fair Market Value of the underlying shares of Common Stock at the time of the Change in
Control and provides for the subsequent vesting and payment of that value in accordance with the same vesting schedule in effect for those shares at the time of such Change in Control. If any such Award is subject to a performance-vesting condition
tied to the attainment of one or more specified performance objectives, then the Plan Administrator shall have the authority, in connection with the assumption, continuation or replacement of such Award that is to occur upon the Change in Control,
to cancel the performance-vesting condition and convert the Award into a Service-vesting Award that will vest solely in accordance with the pre-existing Service-vesting component of that Award. However, to the extent any Award outstanding under the
Stock Issuance Program on the effective date of such Change in Control Transaction is not to be so assumed, continued or replaced, that Award shall vest in full immediately prior to the effective date of the actual

  
 17 

 Change in Control transaction and the shares of Common Stock underlying the portion of the Award that vests
on such accelerated basis shall be issued in accordance with the applicable Award Agreement, unless such accelerated vesting is precluded by other limitations imposed in the Stock Issuance Agreement. 

B. Each outstanding Award under the Stock Issuance Program which is assumed in connection with a Change in Control or otherwise continued
in effect shall be adjusted immediately after the consummation of that Change in Control so as to apply to the number and class of securities into which the shares of Common Stock subject to that Award immediately prior to the Change in Control
would have been converted in consummation of such Change in Control had those shares actually been outstanding at that time, and appropriate adjustments shall also be made to the cash consideration (if any) payable per share thereunder, provided the
aggregate amount of such cash consideration shall remain the same. To the extent the actual holders of the Corporation’s outstanding Common Stock receive cash consideration for their Common Stock in consummation of the Change in Control, the
successor corporation may, in connection with the assumption or continuation of the outstanding Awards and with the consent of the Plan Administrator obtained prior to the Change in Control, substitute one or more shares of its own common stock with
a fair market value equivalent to the cash consideration paid per share of Common Stock in such Change in Control transaction, provided such common stock is readily traded on an established U.S. securities exchange or market. 

C. The Plan Administrator shall have the discretionary authority to structure one or more unvested Awards under the Stock Issuance
Program so that the shares of Common Stock subject to those Awards shall automatically vest (or vest and become issuable) in whole or in part immediately prior to the effective date of an actual Change in Control transaction or upon the subsequent
termination of the Participant’s Service by reason of an Involuntary Termination within a designated period (not to exceed twenty-four (24) months) following the effective date of that Change in Control transaction. 

  
 18 

 ARTICLE FOUR 
 INCENTIVE BONUS PROGRAM 
  

	 	I.	INCENTIVE BONUS TERMS 

The Plan Administrator shall have full power and authority to implement one or more of the following incentive bonus programs under the
Plan: 
 (i) cash bonus awards (“Cash Awards”), and 

(ii) performance unit awards (“Performance Unit Awards”). 

A. Cash Awards. The Plan Administrator shall have the discretionary authority under the Plan to make Cash Awards which are
to vest in one or more installments over the Participant’s continued Service with the Corporation or upon the attainment of specified performance objectives tied to one or more Performance Goals. Each such Cash Award shall be evidenced by one
or more documents in the form approved by the Plan Administrator; provided, however, that each such document shall comply with the terms specified below. 
 1. The elements of the vesting schedule applicable to each Cash Award shall be determined by the Plan Administrator and incorporated into the Incentive Bonus Award Agreement. 

2. Outstanding Cash Awards shall automatically terminate, and no cash payment or other consideration shall be due the holders of those
Awards, if the performance objectives or Service requirements established for those Awards are not attained or satisfied. The Plan Administrator may in its discretion waive the cancellation and termination of one or more unvested Cash Awards which
would otherwise occur upon the cessation of the Participant’s Service or the non-attainment of the performance objectives applicable to those Awards. Any such waiver shall result in the immediate vesting of the Participant’s interest in
the Cash Award as to which the waiver applies. 
 3. Cash Awards which become due and payable following the attainment of the
applicable performance objectives or satisfaction of the applicable Service requirement (or the waiver of such goals or Service requirement) may be paid in (i) cash, (ii) shares of Common Stock valued at Fair Market Value on the payment
date or (iii) a combination of cash and shares of Common Stock, as set forth in the applicable Award Agreement. 
 B.
Performance Unit Awards. The Plan Administrator shall have the discretionary authority to make Performance Unit Awards in accordance with the terms of the Incentive Bonus Program. Each such Performance Unit Award shall be evidenced by
one or more documents in the form approved by the Plan Administrator; provided, however, that each such document shall comply with the terms specified below. 

  
 19 

 1. A Performance Unit shall represent either (i) a unit with a dollar value tied to
the level at which pre-established performance objectives tied to one or more Performance Goals are attained or (ii) a participating interest in a special bonus pool tied to the attainment of such pre-established performance objectives. The
amount of the bonus pool may vary with the level at which the applicable performance objectives are attained, and the value of each Performance Unit which becomes due and payable upon the attained level of performance shall be determined by dividing
the amount of the resulting bonus pool (if any) by the total number of Performance Units issued and outstanding at the completion of the applicable performance period. 
 2. Performance Units may also be structured to include a Service requirement which the Participant must satisfy following the completion of the performance period in order to vest in the Performance Units
awarded with respect to that performance period. 
 3. Performance Units which become due and payable following the attainment
of the applicable performance objectives and the satisfaction of any applicable Service requirement may be settled in (i) cash, (ii) shares of Common Stock valued at Fair Market Value on the payment date or (iii) a combination of cash
and shares of Common Stock, as set forth in the applicable Award Agreement. 
  

	 	II.	CHANGE IN CONTROL 

 The
Plan Administrator shall have the discretionary authority to structure one or more Awards under the Incentive Bonus Program so that those Awards shall automatically vest in whole or in part immediately prior to the effective date of an actual Change
in Control transaction or upon the subsequent termination of the Participant’s Service by reason of an Involuntary Termination within a designated period (not to exceed twenty-four (24) months) following the effective date of such Change
in Control. To the extent any such Award is, at the time of such Change in Control, subject to a performance-vesting condition tied to the attainment of one or more specified performance objectives, then the Plan Administrator shall have the
authority to cancel that performance vesting condition on the effective date of such Change in Control and thereupon convert such Award into a Service-vesting Award that will vest solely in accordance with the pre-existing Service vesting component
of that Award. 

  
 20 

 ARTICLE FIVE 
 AUTOMATIC GRANT PROGRAM 
  

	 	I.	AWARD TERMS 

 A.
Automatic Grants. The Awards to be made pursuant to the Automatic Grant Program shall be as follows: 
 1. Each
individual who is first elected or appointed as a non-employee Board member at any time on or after the Plan Effective Date shall automatically be granted, on the date of such initial election or appointment, an Award with a grant-date fair value
equal to the Applicable Dollar Amount (the “Initial Grant”), provided such individual has not previously been in the employ of the Corporation (or any Parent or Subsidiary). The Applicable Dollar Amount shall be determined by the Plan
Administrator at the time of each such grant, but in no event shall such amount exceed Two Hundred Thousand Dollars ($200,000) per non-employee Board member. In addition, the Plan Administrator shall, on or before the date of each such grant,
determine whether that grant shall be in the form of stock options, stock appreciation rights, restricted stock, restricted stock units or other stock-based awards allowable under the Plan or any combination thereof. 

2. On the date of each annual stockholders meeting, beginning with the 2012 Annual Meeting, each individual who is to continue to serve
as a non-employee Board member, whether or not that individual is standing for re-election to the Board at that particular annual meeting, shall automatically be granted an Award with a grant-date fair value equal to the Applicable Annual Amount
(the “Annual Grant”), provided that such individual has served as a non-employee Board member for a period of at least six (6) months. The Applicable Annual Amount shall be determined by the Plan Administrator on or before the date of
the annual stockholders meeting at which those Annual Grants are to be made, but in no event shall exceed (a) Seventy Five Thousand Dollars ($75,000) per non-employee Board member for the Annual Grants to be made at the 2012 Annual Meeting, and
(b) One Hundred Thousand Dollars ($100,000) per non-employee Board member for the Annual Grants to be made at all Annual Meetings thereafter. In addition, the Plan Administrator shall, on or before the date of each such Annual Grant, determine
whether that grant shall be in the form of stock options, stock appreciation rights, restricted stock, restricted stock units or other stock-based awards allowable under the Plan or any combination thereof. 

3. Each restricted unit that may be awarded under the Automatic Grant Program shall entitle the non-employee Board member to one share
of Common Stock on the applicable issuance date following the vesting of that unit. 
 B. Vesting of Awards and Issuance
of Shares. Each Initial Grant shall vest in a series of in three (3) successive equal annual installments upon the non-employee Board member’s completion of each year of Board service over the three (3)-year period measured from
the Award date, and each Annual Grant shall vest upon the non-employee Board member’s continuation in Board service until the earlier of (i) the completion of the one-year period measured from the award date of that Annual Grant or
(ii) the day immediately preceding the date of the annual stockholders meeting next following the annual stockholder meeting at 

  
 21 

 
which such Annual Grant was made. However, should such non-employee Board member cease Board service by reason of death or Permanent Disability, then each Initial and Annual Grant made to such
individual under this Article Five and outstanding at the time of such cessation of Board service shall immediately vest in full. The shares of Common Stock that vest under any Initial or Annual Grant (or portion thereof) made in the form of
restricted stock shall be issued as they vest; provided, however, that the Plan Administrator may allow one or more non-employee Board members to defer, in accordance with the applicable requirements of Code Section 409A and the
Treasury Regulations thereunder, the issuance of the shares beyond the vesting date to a designated date or until cessation of Board service or an earlier Change in Control. In addition, any shares of Common Stock subject to an Initial or Annual
Grant (or portion thereof) made in the form of restricted stock units that would otherwise become issuable to a non-employee Board member during a blackout period for trading in the Common Stock will automatically be deferred until the third trading
day in the first open window period following the conclusion of that blackout period, but in no event later than the fifteenth day of the third calendar month following the close of the calendar year in which such vesting date occurs. 

C. Stock Options/Stock Appreciation Rights. To the extent any Initial Grant or Annual Grant is made in the form of stock
options or stock appreciation rights, the following provisions shall apply to that Award: 
 (i) The exercise price or base
price per share shall be equal to the Fair Market Value per share of Common Stock on the date of such Award. 
 (ii) The
maximum term of such Award shall be ten (10) years measured from the Award date, subject to earlier termination upon the expiration of the twelve (12)-month period measured from the date the non-employee Board member ceases Board service for
any reason. 
 D. Dividend Equivalent Rights. Each restricted stock unit awarded under the Automatic Grant Program
shall include a dividend equivalent right pursuant to which a book account shall be established for the non-employee Board member and credited from time to time with each dividend or distribution, whether in cash, securities or other property (other
than shares of Common Stock) which is made per issued and outstanding share of Common Stock during the period the share of Common Stock underlying that restricted stock unit remains unissued. The amount credited to the book account with respect to
such restricted stock unit shall be paid to the non-employee Board member concurrently with the issuance of the share of Common Stock underlying that unit. 
  

	 	II.	CHANGE IN CONTROL 

 Should
the non-employee Board member continue in Board service until immediately prior to the effective date of an actual Change in Control transaction, then the shares of Common Stock subject to each outstanding Initial and Annual Grant made to such Board
member under the Automatic Grant Program shall, immediately prior to the effective date of that Change in Control transaction, vest in full. To the extent such Initial or Annual Grant is in the form of stock options or stock appreciation rights,
that Award shall, immediately prior to the 

  
 22 

 
effective date of the Change in Control transaction, become exercisable as to all the shares of Common Stock at the time subject to that Award and may be exercised as to any or all of those
shares as fully vested shares of Common Stock. To the extent such Initial or Annual Grant is in the form of restricted stock or restricted stock units, that Award shall, on the effective date of the Change in Control, be converted into the right to
receive the same consideration per share of Common Stock payable to the other stockholders in the Change in Control, and such consideration per share shall distributed to the non-employee Board member at the same time as such stockholder payments
are made, but in no event more than fifteen (15) business days after the effective date of the Change in Control, except to the extent such issuance is subject to a deferred distribution date under Code Section 409A. 

  
 23 

 ARTICLE SIX 
 MISCELLANEOUS 
  

	 	I.	DEFERRED COMPENSATION 

 A.
The Plan Administrator may, in its sole discretion, structure one or more Awards under the Stock Issuance or Incentive Bonus Programs so that the Participants may be provided with an election to defer the compensation associated with those Awards
for federal income tax purposes. Any such deferral opportunity shall comply with all applicable requirements of Code Section 409A. 
 B. The Plan Administrator may implement a non-employee Board member retainer fee deferral program under the Plan so as to allow the non-employee Board members the opportunity to elect, prior to the start
of each calendar year, to convert the Board and Board committee retainer fees to be earned for such year into restricted stock units under the Stock Issuance Program that will defer the issuance of the shares of Common Stock that vest under those
restricted stock units until a permissible date or event under Code Section 409A. If such program is implemented, the Plan Administrator shall have the authority to establish such rules and procedures as it deems appropriate for the filing of
such deferral elections and the designation of the permissible distribution events under Code Section 409A. 
 C. To the
extent the Corporation maintains one or more separate non-qualified deferred compensation arrangements which allow the participants the opportunity to make notional investments of their deferred account balances in shares of Common Stock, the Plan
Administrator may authorize the share reserve under the Plan to serve as the source of any shares of Common Stock that become payable under those deferred compensation arrangements. In such event, the share reserve under the Plan shall be reduced on
a share-for-share basis for each share of Common Stock issued under the Plan in settlement of the deferred compensation owed under those separate arrangements. 
  

	 	II.	TAX WITHHOLDING 

 A. The
Corporation’s obligation to deliver shares of Common Stock upon the exercise, issuance or vesting of an Award under the Plan shall be subject to the satisfaction of all applicable income and employment tax withholding requirements. 

B. The Plan Administrator may, in its discretion, structure one or more Awards so that shares of Common Stock may be used as follows to
satisfy all or part of the Withholding Taxes to which such holders of those Awards may become subject in connection with the issuance, exercise, vesting or settlement of those Awards: 

1. Stock Withholding: The Corporation may retain the right to withhold, from the shares of Common Stock otherwise issuable upon
the issuance, exercise, vesting or settlement of such Award, a portion of those shares with an aggregate Fair Market Value equal to the applicable Withholding Taxes. The shares of Common Stock so withheld shall reduce the number of shares of Common
Stock authorized for issuance under the Plan. 

  
 24 

 2. Stock Delivery: The holder of the Award may be given the right to deliver to the
Corporation, at the time of the issuance, exercise, vesting or settlement of such Award, one or more shares of Common Stock previously acquired by such individual with an aggregate Fair Market Value at the time of delivery equal to the percentage of
the Withholding Taxes (not to exceed one hundred percent (100%)) designated by the individual. The shares of Common Stock so delivered shall neither reduce the number of shares of Common Stock authorized for issuance under the Plan nor be added
to the number of shares of Common Stock authorized for issuance under the Plan. 
  

	 	III.	SHARE ESCROW/LEGENDS 

Unvested shares may, in the Plan Administrator’s discretion, be held in escrow by the Corporation until the Participant’s
interest in such shares vests or may be issued directly to the Participant with restrictive legends on the certificates evidencing those unvested shares. 
  

	 	IV.	EFFECTIVE DATE AND TERM OF THE PLAN 

 A. The Plan was adopted by the Board of Directors and became effective on the Plan Effective Date, subject to the approval of the Corporation’s stockholders prior to the date the underwriting
agreement for the initial public offering of the Common Stock is executed. Any Award made under the Plan on or after the Plan Effective Date and prior to the date of such stockholder approval shall be subject to such stockholder approval and shall
be cancelled in the event such stockholder approval is not obtained prior to the date the underwriting agreement for the initial public offering of the Common Stock is executed. The Board of Directors approved an amendment and restatement of the
Plan on November 11, 2011. 
 B. The Plan shall serve as the successor to each of the Predecessor Plans, and no further
option grants or restricted stock unit awards shall be made under the Predecessor Plans. All options outstanding under the Predecessor Plans on the Plan Effective Date shall be transferred to the Plan at that time and shall be treated as outstanding
options under the Plan. However, each outstanding option so transferred shall continue to be governed solely by the terms of the documents evidencing such option, and no provision of the Plan shall be deemed to affect or otherwise modify the rights
or obligations of the holders of such transferred options with respect to their acquisition of shares of Common Stock thereunder. Should any of those transferred options expire or terminate unexercised, the shares of Common Stock subject to those
options at the time of expiration or termination shall be available for subsequent award and issuance under the Plan in accordance with the provisions of Section V.E of Article One. 

C. One or more provisions of the Plan, including (without limitation) the vesting acceleration provisions of Article Two relating to
Changes in Control may, in the Plan Administrator’s discretion, be extended to one or more options transferred from the Predecessor Plans which do not otherwise contain such provisions. 

D. The Plan shall terminate upon the earliest to occur of (i) September 11, 2021, (ii) the date on which all
shares available for issuance under the Plan shall have been issued as fully vested shares or (iii) the termination of all outstanding Awards in connection with a Change in Control. Should the Plan terminate on September 11, 2021, then all
Awards 

  
 25 

 
outstanding at that time shall continue to have force and effect in accordance with the provisions of the documents evidencing those Awards. 

 

	 	V.	AMENDMENT OF THE PLAN 

 A.
The Board shall have complete and exclusive power and authority to amend or modify the Plan in any or all respects; provided, however, that stockholder approval shall be required for any amendment to the Plan which (i) materially
increases the number of shares of Common Stock authorized for issuance under the Plan (other than pursuant to Section V.G of Article One), (ii) materially increases the benefits accruing to Optionees or Participants, (iii) materially
expands the class of individuals eligible to participate in the Plan, (iv) expands the types of awards which may be made under the Plan or extends the term of the Plan or (v) effects any other change or modification to the Plan for which
stockholder approval is required under applicable law or regulation or pursuant to the listing standards of the Stock Exchange on which the Common Stock is at the time primarily traded. However, no such amendment or modification shall adversely
affect the rights and obligations with respect to Awards at the time outstanding under the Plan unless the Optionee or the Participant consents to such amendment or modification. 

B. The Compensation Committee shall have the discretionary authority to adopt and implement from time to time such addenda or subplans to
the Plan as it may deem necessary in order to bring the Plan into compliance with applicable laws and regulations of any foreign jurisdictions in which Awards are to be made under the Plan and/or to obtain favorable tax treatment in those foreign
jurisdictions for the individuals to whom the Awards are made. 
 C. Awards may be made under the Plan that involve shares of
Common Stock in excess of the number of shares then available for issuance under the Plan, provided no shares shall actually be issued pursuant to those Awards until the number of shares of Common Stock available for issuance under the Plan is
sufficiently increased by stockholder approval of an amendment of the Plan authorizing such increase. If such stockholder approval is not obtained within twelve (12) months after the date the first excess Award is made, then all Awards granted
on the basis of such excess shares shall terminate and cease to be outstanding. 
 D. The provisions of the Plan and the
outstanding Awards under the Plan shall, in the event of any ambiguity, be construed, applied and interpreted in a manner so as to ensure that all Awards and Award Agreements provided to Optionees or Participants who are subject to U.S. income
taxation either qualify for an exemption from the requirements of Section 409A of the Code or comply with those requirements; provided, however, that the Corporation shall not make any representations that any Awards made under
the Plan will in fact be exempt from the requirements of Section 409A of the Code or otherwise comply with those requirements, and each Optionee and Participant shall accordingly be solely responsible for any taxes, penalties or other amounts
that may become payable with respect to his or her Awards by reason of Section 409A of the Code. 

  
 26 

	 	VI.	USE OF PROCEEDS 

 Any cash
proceeds received by the Corporation from the sale of shares of Common Stock under the Plan shall be used for general corporate purposes. 
  

	 	VII.	REGULATORY APPROVALS 

 A.
The implementation of the Plan, the granting of any Award under the Plan and the issuance of any shares of Common Stock in connection with the issuance, exercise, vesting or settlement of any Award under the Plan shall be subject to the
Corporation’s procurement of all approvals and permits required by regulatory authorities having jurisdiction over the Plan, the Awards made under the Plan and the shares of Common Stock issuable pursuant to those Awards. 

B. No shares of Common Stock or other assets shall be issued or delivered under the Plan unless and until there shall have been
compliance with all applicable requirements of applicable securities laws, including the filing and effectiveness of the Form S-8 registration statement for the shares of Common Stock issuable under the Plan, and all applicable listing requirements
of any Stock Exchange on which Common Stock is then listed for trading. 
  

	 	VIII.	 NO EMPLOYMENT/SERVICE RIGHTS 

 Nothing in the Plan shall confer upon the Optionee or the Participant any right to continue in Service for any period of specific duration or interfere with or otherwise restrict in any way the rights of
the Corporation (or any Parent or Subsidiary employing or retaining such person) or of the Optionee or the Participant, which rights are hereby expressly reserved by each, to terminate such person’s Service at any time for any reason, with or
without cause. 

  
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 APPENDIX 

The following definitions shall be in effect under the Plan: 
 A. Award shall mean any of the following awards authorized for issuance or grant under the Plan: stock options, stock appreciation rights, direct stock issuances, restricted stock or
restricted stock unit awards, performance shares, performance units, other stock-based awards and cash incentive awards. 
 B.
Award Agreement shall mean the agreement(s) between the Corporation and the Optionee or Participant evidencing a particular Award made to that individual under the Plan, as such agreement(s) may be in effect from time to time

 C. Board shall mean the Corporation’s Board of Directors. 

D. Cause shall, with respect to each Award made under the Plan, be defined in accordance with the following provisions:

  

	 	•	 	 Cause shall have the meaning assigned to such term in the Award Agreement for the particular Award or in any other agreement incorporated by reference
into the Award Agreement for purposes of defining such term. 

  

	 	•	 	 In the absence of any other Cause definition in the Award Agreement for a particular Award (or in any other agreement incorporated by reference into
the Award Agreement), an individual’s termination of Service shall be deemed to be for Cause if such termination occurs by reason his or her commission of any act of fraud, embezzlement or dishonesty, any unauthorized use or disclosure by such
person of confidential information or trade secrets of the Corporation (or any Parent or Subsidiary), or any other intentional misconduct by such person adversely affecting the business or affairs of the Corporation (or any Parent or Subsidiary) in
a material manner. 

 E. Change in Control shall, with respect to each Award made under the
Plan, be defined in accordance with the following provisions: 
  

	 	•	 	 Change in Control shall have the meaning assigned to such term in the Award Agreement for the particular Award or in any other agreement incorporated
by reference into the Award Agreement for purposes of defining such term. 

  

	 	•	 	 In the absence of any other Change in Control definition in the Award Agreement (or in any other agreement incorporated by reference into the Award
Agreement), Change in Control shall mean a change in ownership or control of the Corporation effected through any of the following transactions: 

(i) the closing of a merger, consolidation or other reorganization approved by the Corporation’s stockholders in
which a change in ownership or control of the Corporation is effected through the acquisition by any person or group of persons comprising a “group” within the meaning of Rule 13d-5(b)(1) of the 1934 Act (other than the Corporation or a
person that, prior to such 

  
 A-1

 
transaction, directly or indirectly controls, is controlled by or is under common control with, the Corporation) of beneficial ownership (within the meaning of Rule 13d-3 of the 1934 Act) of
securities possessing more than fifty percent (50%) of the total combined voting power of the Corporation’s outstanding securities (as measured in terms of the power to vote with respect to the election of Board members), 

(ii) the closing of a sale, transfer or other disposition of all or substantially all of the Corporation’s assets,

 (iii) the closing of any transaction or series of related transactions pursuant to which any person or any
group of persons comprising a “group” within the meaning of Rule 13d-5(b)(1) of the 1934 Act (other than the Corporation or a person that, prior to such transaction or series of related transactions, directly or indirectly controls, is
controlled by or is under common control with, the Corporation) acquires directly or indirectly (whether as a result of a single acquisition or by reason of one or more acquisitions within the twelve (12)-month period ending with the most recent
acquisition) beneficial ownership (within the meaning of Rule 13d-3 of the 1934 Act) of securities possessing more than fifty percent (50%) of the total combined voting power of the Corporation’s securities (as measured in terms of the
power to vote with respect to the election of Board members) outstanding immediately after the consummation of such transaction or series of related transactions, whether such transaction involves a direct issuance from the Corporation or the
acquisition of outstanding securities held by one or more of the Corporation’s existing stockholders, 

(iv) a merger, recapitalization, consolidation, or other transaction to which the Corporation is a party or the sale,
transfer or other disposition of all or substantially all of the Corporation’s assets if, in either case, the members of the Board immediately prior to consummation of the transaction do not, upon consummation of the transaction, constitute at
least a majority of the board of directors of the surviving entity or the entity acquiring the Corporation’s assets, as the case may be, or a parent thereof, or 

(v) a change in the composition of the Board over a period of thirty-six (36) consecutive months or less such that a
majority of the Board members ceases by reason of one or more contested elections for Board membership to be comprised of individuals who either (A) have been Board members continuously since the beginning of such period or (B) have been
elected or nominated for election as Board members during such period by at least a majority of the Board members described in clause (A) who were still in office at the time the Board approved such election or nomination. 

  
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 F. Code shall mean the Internal Revenue Code of 1986, as amended. 

G. Common Stock shall mean the Corporation’s common stock. 

H. Compensation Committee shall mean the Compensation Committee of the Board comprised of two (2) or more non-employee
Board members. 
 I. Corporation shall mean GCT Semiconductor, Inc., a Delaware corporation, and any corporate
successor to all or substantially all of the assets or voting stock of GCT Semiconductor, Inc. which has by appropriate action assumed the Plan. 
 J. Employee shall mean an individual who is in the employ of the Corporation (or any Parent or Subsidiary, whether now existing or subsequently established), subject to the control and
direction of the employer entity as to both the work to be performed and the manner and method of performance. 
 K.
Exercise Date shall mean the date on which the Corporation shall have received written notice of the option exercise. 
 L. Fair Market Value per share of Common Stock on any relevant date shall be determined in accordance with the following provisions: 

(i) If the Common Stock is at the time traded on the Nasdaq Global or Global Select Market, then the Fair Market Value
shall be the closing selling price per share of Common Stock on the date in question, as such price is reported by the National Association of Securities Dealers for that particular Stock Exchange and published in The Wall Street Journal. If
there is no closing selling price for the Common Stock on the date in question, then the Fair Market Value shall be the closing selling price on the last preceding date for which such quotation exists. 

(ii) If the Common Stock is at the time listed on any other Stock Exchange, then the Fair Market Value shall be the
closing selling price per share of Common Stock on the date in question on the Stock Exchange determined by the Plan Administrator to be the primary market for the Common Stock, as such price is officially quoted in the composite tape of
transactions on such exchange and published in The Wall Street Journal. If there is no closing selling price for the Common Stock on the date in question, then the Fair Market Value shall be the closing selling price on the last preceding
date for which such quotation exists. 
 (iii) If the Common Stock is not at the time listed on any Stock
Exchange, then the Fair Market Value shall be determined by the Plan Administrator through the reasonable application of a reasonable valuation method that takes into account the applicable valuation factors set forth in the Treasury Regulations
issued under Section 409A of the Code; provided, however, that with respect to an Incentive Option, such Fair Market Value shall be determined in accordance with the standards of Section 422 of the Code and the applicable
Treasury Regulations thereunder. 

  
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 M. Family Member means, with respect to a particular Optionee or Participant,
any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law. 

N. Good Reason shall, with respect to each Award made under the Plan, be defined in accordance with the following
provisions: 
  

	 	•	 	 Good Reason shall have the meaning assigned to such term in the Award Agreement for the particular Award or in any other agreement incorporated by
reference into the Award Agreement for purposes of defining such term. 

  

	 	•	 	 In the absence of any other Good Reason definition in the Award Agreement (or in any other agreement incorporated by reference into the Award
Agreement), Good Reason shall mean an individual’s voluntary resignation following 

 (A)
a material reduction in the scope of the duties, responsibilities and authority of his or her position with the Corporation (or any Parent or Subsidiary), it being understood that a change in such individual’s title shall not, in and of itself,
be deemed a material reduction, 
 (B) a materially adverse change in his or her reporting requirements so that
such individual is required to report to a person whose duties, responsibilities and authority are materially less than the person to whom he or she previously reported, 

(C) a material reduction in such individual’s base salary or the aggregate of his or her base salary and target
bonus under any corporate-performance based bonus or incentive programs, with a reduction of fifteen percent (15%) or more to the his or her base salary or aggregate base salary and target bonus to be deemed a material, or 

(D) a relocation of such individual’s place of employment by more than fifty (50) miles; 

provided and only if such change, reduction or relocation is effected by the Corporation (or any Parent or Subsidiary) without the individual’s
consent. 
 O. Incentive Bonus Program shall mean the incentive bonus program in effect under Article Four of the
Plan. 
 P. Incentive Option shall mean an option which satisfies the requirements of Code Section 422.

  
 A-4

 Q. Involuntary Termination shall mean the termination of the Service of any
individual which occurs by reason of: 
 (i) such individual’s involuntary dismissal or discharge by the
Corporation (or any Parent or Subsidiary) for reasons other than for Cause, or 
 (ii) such individual’s
voluntary resignation for Good Reason. 
 R. 1934 Act shall mean the Securities Exchange Act of 1934, as amended.

 S. Non-Statutory Option shall mean an option not intended to satisfy the requirements of Code Section 422.

 T. Option/SAR Grant Program shall mean the grant program in effect under Article Two of the Plan pursuant to
which stock options and stock appreciation rights may be granted to one or more eligible individuals. 
 U. Optionee
shall mean any person to whom an option is granted under the Discretionary Grant Program. 
 V. Parent shall
mean any corporation (other than the Corporation) in an unbroken chain of corporations ending with the Corporation, provided each corporation in the unbroken chain (other than the Corporation) owns, at the time of the determination, stock possessing
fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. 
 W. Participant shall mean any person who is issued (i) shares of Common Stock, restricted stock units, performance shares, performance units or other stock-based awards under the Stock
Issuance Program or (ii) an incentive bonus award under the Incentive Bonus Program. 
 X. Performance Goals
shall mean any of the following performance criteria upon which the vesting of one or more Awards under the Plan may be based: (i) earnings or operating income before interest, taxes, depreciation, amortization and/or charges for stock-based
compensation; (ii) earnings per share; (iii) growth in earnings or earnings per share; (iv) market price of the Common Stock; (v) return on equity or average stockholder equity; (vi) total stockholder return or growth in
total stockholder return; (vii) return on capital or invested capital; (viii) return on assets or net assets; (ix) revenue, growth in revenue or return on sales; (x) income or net income; (xi) operating income or net
operating income; (xii) operating profit or net operating profit; (xiii) operating margin; (xiv) return on operating revenue or return on operating profit; (xv) cash flow, operating cash flow or free cash flow; (xvi) market
share; (xvii) collections and recoveries, (xviii) debt reduction, (xix) litigation and regulatory resolution goals, (xx) expense control goals, (xxi) budget comparisons, (xxii) development and implementation of
strategic plans and/or organizational restructuring goals; (xxiii) productivity goals; (xxiv) workforce management; (xxv) economic value added, (xxvi) measures of customer satisfaction, (xxvii) formation of joint ventures or
marketing or customer service collaborations or the completion of other corporate transactions intended to enhance the Corporation’s revenue or profitability or enhance its customer base; and (xxviii) mergers and acquisitions. In
addition, 

  
 A-5

 
such performance criteria may be based upon the attainment of specified levels of the Corporation’s performance under one or more of the measures described above relative to the performance
of other entities and may also be based on the performance of any of the Corporation’s business units or divisions or any Parent or Subsidiary. Each applicable Performance Goal may include a minimum threshold level of performance below which no
Award will be earned, levels of performance at which specified portions of an Award will be earned and a maximum level of performance at which an Award will be fully earned. Each applicable performance goal may be structured at the time of the Award
to provide for appropriate adjustments or exclusions for one or more of the following items: (A) asset impairments or write-downs; (B) litigation and governmental investigation expenses and judgments, verdicts and settlements in connection
therewith; (C) the effect of changes in tax law, accounting principles or other such laws or provisions affecting reported results; (D) accruals for reorganization and restructuring programs; (E) costs and expenses incurred in
connection with mergers and acquisitions; (F) bonus or incentive compensation costs and expenses associated with cash-based awards made under the Plan or other bonus or incentive compensation plans of the Corporation or any Parent or
Subsidiary, (G) extraordinary or nonrecurring items; (H) items of income, gain, loss or expense attributable to the operations of any business acquired by the Corporation or any Parent or Subsidiary; (I) items of income, gain, loss or
expense attributable to one or more business operations divested by the Corporation or any Parent or Subsidiary or the gain or loss realized upon the sale of any such business or the assets thereof and (J) the impact of foreign currency
fluctuations or changes in exchange rates. 
 Y. Permanent Disability or Permanently Disabled shall mean the
inability of the Optionee or the Participant to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment expected to result in death or to be of continuous duration of twelve (12) months
or more. However, solely for purposes of the Automatic Grant Program, Permanent Disability or Permanently Disabled shall mean the inability of the non-employee Board member to perform his or her usual duties as a Board member by reason of any
medically determinable physical or mental impairment expected to result in death or to be of continuous duration of twelve (12) months or more. 
 Z. Plan shall mean the Corporation’s 2011 Incentive Compensation Plan, as set forth in this document and as subsequently amended or modified from time to time. 

AA. Plan Administrator shall mean the particular entity, whether the Compensation Committee, the Board or the Secondary
Board Committee, which is authorized to administer the Discretionary Grant, Stock Issuance and Incentive Bonus Programs with respect to one or more classes of eligible persons, to the extent such entity is carrying out its administrative functions
under the Plan with respect to the persons under its jurisdiction. 
 BB. Plan Effective Date shall mean
September 12, 2011. 
 CC. Predecessor Plans shall mean (i) the Corporation’s 2010 Stock
Option/Stock Issuance Plan and (ii) the Corporation’s 2002 Special Stock Option/Stock Issuance Plan. 

  
 A-6

 DD. Secondary Board Committee shall mean a committee of one or more Board
members appointed by the Board to administer the Plan with respect to eligible persons other than Section 16 Insiders. 

EE. Section 16 Insider shall mean an officer or director of the Corporation subject to the short-swing profit
liabilities of Section 16 of the 1934 Act. 
 FF. Service shall mean the performance of services for the
Corporation (or any Parent or Subsidiary, whether now existing or subsequently established) by a person in the capacity of an Employee, a non-employee member of the board of directors or a consultant or independent advisor, except to the extent
otherwise specifically provided in the documents evidencing the option grant or stock issuance. For purposes of the Plan, an Optionee or Participant shall be deemed to cease Service immediately upon the occurrence of the either of the following
events: (i) the Optionee or Participant no longer performs services in any of the foregoing capacities for the Corporation or any Parent or Subsidiary or (ii) the entity for which the Optionee or Participant is performing such services
ceases to remain a Parent or Subsidiary of the Corporation, even though the Optionee or Participant may subsequently continue to perform services for that entity. Service shall not be deemed to cease during a period of military leave, sick leave or
other personal leave approved by the Corporation; provided, however, that should such leave of absence exceed three (3) months, then for purposes of determining the period within which an Incentive Option may be exercised as such
under the federal tax laws, the Optionee’s Service shall be deemed to cease on the first day immediately following the expiration of such three (3)-month period, unless Optionee is provided with the right to return to Service following such
leave either by statute or by written contract. Except to the extent otherwise required by law or expressly authorized by the Plan Administrator or by the Corporation’s written policy on leaves of absence, no Service credit shall be given for
vesting purposes for any period the Optionee or Participant is on a leave of absence. 
 GG. Stock Exchange shall
mean the American Stock Exchange, the Nasdaq Global or Global Select Market or the New York Stock Exchange. 
 HH. Stock
Issuance Agreement shall mean the agreement entered into by the Corporation and the Participant at the time of issuance of shares of Common Stock under the Stock Issuance Program. 

II. Stock Issuance Program shall mean the stock issuance program in effect under Article Three of the Plan. 

JJ. Subsidiary shall mean any corporation (other than the Corporation) in an unbroken chain of corporations beginning with
the Corporation, provided each corporation (other than the last corporation) in the unbroken chain owns, at the time of the determination, stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock
in one of the other corporations in such chain. 
 KK. 10% Stockholder shall mean the owner of stock (as
determined under Code Section 424(d)) possessing more than ten percent (10%) of the total combined voting power of all classes of stock of the Corporation (or any Parent or Subsidiary). 

  
 A-7

 LL. Withholding Taxes shall mean the applicable federal and state income and
employment withholding taxes to which the holder of an Award under the Plan may become subject in connection with the issuance, exercise, vesting or settlement of that Award. 

  
 A-8

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