Document:

Exhibit 10.8.2

 

AMENDMENT TO LEASE

 

This Amendment to Lease made the 6 day of May 2013 between 3800 WILKE L.L.C., an Illinois limited liability company (“Landlord”) and PAYLOCITY CORPORATION, an Illinois corporation (“Tenant”).

 

Recitals:

 

WHEREAS, Tenant and 3850 Wilke L.L.C. entered into that certain Lease dated January 12, 2007 (the “Lease”), under which 3850 Wilke L.L.C. leased the Tenant that certain premises on the first and second floor of 3850 N. Wilke Road, Arlington Heights, Illinois (“3850”), consisting of forty-five thousand four hundred twenty-seven (45,427) rentable square feet (the “Premises”); and

 

WHEREAS, on January 5, 2011, Tenant and 3850 entered into an Amendment to Lease in which Tenant leased an additional twenty-five thousand seventy-four (25,074) rentable square feet on the fourth floor at 3850 (“Expansion Premises”); and

 

WHEREAS, Tenant desires to lease additional space on the third and fourth floors at the building common known as 3800 N. Wilke Road, Arlington Heights, Illinois (“3800 Premises”) and

 

WHEREAS, Landlord herein is a related party to the landlord of 3850 and both Tenant and Landlord desire to adopt as the terms of the Lease for the 3800 Premises all of the terms of Tenant’s Lease of the Premises and Expansion Premises at 3850, except as herein provided; and

 

WHEREAS, the parties desire to be bound by the terms and conditions hereinafter contained and the modifications and amendments of the terms of the Lease.

 

NOW, THEREFORE, in consideration of the foregoing premises and mutual covenants and conditions herein contained, the parties hereto agree as follows:

 

1.                                      Preamble. The recitations herein above set forth in the Preamble are hereby adopted by this reference and incorporated herein, the same is so set forth in full context.

 

2.                                      Definitions. Terms as used herein shall have the same meaning as in the Lease, and any previous amendments thereto, except the term “Landlord” shall have the meaning herein ascribed.

 

3.                                      3800 Premises. Landlord agrees to lease to Tenant, and Tenant agrees to lease from Landlord forty-six thousand four hundred seventy-nine (46,479) rentable square feet (“RSF”) of space on the third and fourth floors of 3800 Wilke Road, Arlington Heights, Illinois (“3800 Premises”)in Phases as set forth in the following schedule:

 

1

 

	
 
    	
 
    	
 
    	
 
    	
Rental
    	
 
    	
Occupancy
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
Square Feet
    	
 
    	
Date
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Phase I
    	
 
    	
3rd Floor
    	
 
    	
23,286
    	
 
    	
8/1/13
    	
 
    
	
Phase II
    	
 
    	
4th Floor
    	
 
    	
23,193
    	
 
    	
4/1/14
    	
 
    

 

Tenant may elect to lease Phase II earlier than the occupancy date set forth above on notice to Landlord, not later than one hundred twenty (120) days prior to the scheduled occupancy date, to permit sufficient time for Landlord to complete the improvements to the space.

 

4.                                 Term. The Lease of 3800 Premises shall commence as of the dates Landlord delivers the Tenant occupancy of each of the respective phases and shall terminate on May 31, 2020 unless there is a delay in completion of Landlord Improvements, then in such case the Lease shall end on the last day of the month eighty two (82) months after the Commencement Date of Phase I. Notwithstanding anything to the contrary, Landlord grants permission to Tenant to enter each Phase of the 3800 Premises thirty (30) days prior to the anticipated Occupancy Date for purposes of wiring for telephone and computer and installation of furniture and fixtures. Such early access by Tenant shall not interfere with Landlord’s completion of improvements to Premises.

 

5.                                 Rent:

 

A.                               Phase I: Tenant shall pay Base Rent for Phase I (3rd Floor Premises) in accordance with the following schedule:

 

	
 
    	
 
    	
Annualized
   Base Rent
    	
 
    	
Monthly
   Base Rent
    	
 
    
	
8/1/13 — 7/31/14
    	
 
    	
$
    	
459,898.50
    	
 
    	
$
    	
38,324.87
    	
 
    
	
8/1/14 — 7/31/15
    	
 
    	
$
    	
469,212.90
    	
 
    	
$
    	
39,101.07
    	
 
    
	
8/1/15 — 7/31/16
    	
 
    	
$
    	
478,527.30
    	
 
    	
$
    	
39,877.27
    	
 
    
	
8/1/16 — 7/31/17
    	
 
    	
$
    	
487,841.70
    	
 
    	
$
    	
40,653.47
    	
 
    
	
8/1/17 — 7/31/18
    	
 
    	
$
    	
497,156.10
    	
 
    	
$
    	
41,429.67
    	
 
    
	
8/1/18 — 7/31/19
    	
 
    	
$
    	
506,470.50
    	
 
    	
$
    	
42,205.87
    	
 
    
	
8/1/19 — 5/31/20
    	
 
    	
$
    	
515,784.90
    	
 
    	
$
    	
42,982.07
    	
 
    

 

Tenant shall not be required to pay Base Rent from the Occupancy Date to and including February 28, 2014.

 

B.                               Phase II: Tenant shall pay Base Rent for Phase II (4th Floor Premises”) in accordance with the following:

 

2

 

	
 
    	
 
    	
Annualized
   Base Rent
    	
 
    	
Monthly
   Base Rent
    	
 
    
	
4/1/14 — 7/31/14
    	
 
    	
$
    	
458,061.75
    	
 
    	
$
    	
38,171.81
    	
 
    
	
8/1/14 — 7/31/15
    	
 
    	
$
    	
467,338.95
    	
 
    	
$
    	
38,944.91
    	
 
    
	
8/1/15 — 7/31/16
    	
 
    	
$
    	
476,616.15
    	
 
    	
$
    	
39,718.01
    	
 
    
	
8/1/16 — 7/31/17
    	
 
    	
$
    	
485,893.35
    	
 
    	
$
    	
40,491.11
    	
 
    
	
8/1/17 — 7/31/18
    	
 
    	
$
    	
495,170.55
    	
 
    	
$
    	
41,264.21
    	
 
    
	
8/1/18 — 7/31/19
    	
 
    	
$
    	
504,447.75
    	
 
    	
$
    	
42,037.31
    	
 
    
	
8/1/19 — 5/31/20
    	
 
    	
$
    	
513,724.95
    	
 
    	
$
    	
42,810.41
    	
 
    

 

Tenant shall not be required to pay Base Rent, for the period from the Occupancy Date to and including September 30, 2014.

 

C.                               In the event that Tenant elects to take occupancy of Phase II earlier than provided for herein, then in such case the Base Rent shall be adjusted accordingly, and calculated on the same per RSF basis as used herein.

 

6.                                 Additional Rent. Tenant shall pay additional rent for each Phase it is leasing in accordance with Section 3 of the Lease, provided however the Tax Stop for purposes of calculating Tenant’s obligation hereunder is $502,465.00. Tenant shall not have to pay its Pro Rata Share of Taxes until Landlord pays real estate taxes for the 3800 Building in excess of $502,465.00. The Operating Expense Stop is $558,300.00. Tenant shall not have to pay its Pro Rata Share of the Operating Expenses until Landlord pays Operating Expenses for the 3800 Building in excess of $558,300.00. Landlord shall be required to pay all Taxes and Operating Expenses to the extent Taxes and Operating expenses do not exceed the respective Tax and Operating Expense Stop.

 

For all purposes hereunder Tenant’s Pro Rata Share is as follows:

 

	
 
    	
Phase   I — 3rd Floor
    	
 
    	
25.62
    	
%
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
Phase   ll — 4th Floor
    	
 
    	
25.52
    	
%
    	
 
    	
 
    

 

7.                                 Landlord Improvement/Tenant Improvement Allowance. Landlord shall improve each Phase of the 3800 Premises at its cost and expense, subject to an allowable Tenant Improvement Allowance in accordance with the following schedule:

 

	
Phase I — 3rd Floor
    	
 
    	
$
    	
25.00 RSF
    	
 
    	
$
    	
582,150.00
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Phase ll — 4th Floor
    	
 
    	
$
    	
25.00 RSF
    	
 
    	
$
    	
579,825.00
    	
 
    

 

Landlord will construct the improvements to the 3rd and 4th Floors pursuant to plans that are agreed upon between Landlord and Tenant, prior to Landlord

 

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commencing such improvements. In the case of Phase I, Landlord will improve the Phase I Premises in accordance with the preliminary space plan prepared by Featherstone Consulting, Inc., dated April 16, 2013 and identified as Job 0426AS, Concept 5 and the Workletter of the same date, each attached hereto as Group Exhibit A.

 

Landlord agrees to replace blinds as needed during Phase I construction at its cost, which amount shall be in addition to Tenant Improvement Allowance provided to Tenant for construction.

 

It is understood that the costs to construct the Improvements may exceed Tenant Improvement Allowance (“Cost Differential”). The ratio that the Cost Differential bears to the estimate of the entire costs to construct the Improvements (“Estimate of Costs”), being the Cost Differential divided by the Estimate of Costs shall be deemed the “Tenant’s Proportionate Share”. The ratio that the Tenant Improvement Allowance bears to the Estimate of Costs being the Tenant Improvement Allowance divided by the Estimate of Costs, shall be “Landlord’s Proportionate Share”. In connection with each draw by the general contractor, Landlord shall fully fund an amount equal to Landlord’s Proportionate Share multiplied by the aggregate amount of each such draw. In connection with each such draw request, Tenant shall fully pay an amount equal to Tenant’s Proportionate Share multiplied by the amount of each such draw request during Landlord’s completion of improvements.

 

If after full disbursement of the Tenant Improvement Allowance there exists any shortage in the amount of the cost of Tenant Improvements based on the actual costs of the construction of the Improvements, Tenant shall be responsible for paying such costs. In the event that the actual costs are less than the Estimate of Costs, Landlord, nevertheless, shall be required to fund, and shall fund, the entire amount of the Tenant Improvement Allowance.

 

8.                                 Architectural Plans. Landlord agrees to pay an amount not to exceed fifty cents ($.50) per square for architectural plans needed to construct Phase I or Phase II. Any additional charges associated with such plans shall be paid by Tenant within thirty (30) days of Landlord’s invoice.

 

9.                                 Right of First Refusal. At any time during the term of this Lease, and on the terms and conditions hereinafter set forth, provided that this Lease is in full force and effect and Tenant is not in default under this Lease beyond applicable notice and cure periods, Tenant shall have a continuing right to negotiate for additional space on the second floor of 3800 N. Wilke Road, Arlington Heights (“Expansion Space”) on the terms and conditions hereinafter set forth:

 

A.                               During the term of this Lease, prior to Landlord’s executing a lease (“Proposed Lease”) for any of the Expansion Space, Landlord shall notify Tenant in writing of the rentable area of the Expansion Space proposed to be leased, the proposed rental rate, the proposed commencement date (the “Expansion Space

 

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Commencement Date”) and the proposed terms and conditions of the Proposed Lease.

 

B.                               If Tenant desires to negotiate for the lease of the Expansion Space, Tenant must, by written notice to Landlord given within five (5) business days after Landlord’s notice, commence negotiation for the lease of the Expansion Space.

 

C.                               If Landlord and Tenant do not enter into a lease agreement for all of the Expansion Space within fifteen (15) days of the date of Landlord’s notice of a prospective tenant for the Expansion Space, then Tenant shall have no further rights to lease such Expansion Space under this Section 42. In the event such space again becomes available, Tenant’s rights to negotiate for such space in the future shall renew.

 

10.                               Option to Extend. Provided that this Lease is then in full force and effect and provided further that Tenant is not then in default under this Lease, Landlord hereby grants to Tenant an option to extend the term of this Lease for the 3800 Premises on the same terms, conditions and provisions as contained in the Lease or this Amendment, except as otherwise provided herein, for an additional five (5) year period which shall commence upon the day next following the termination date of the 3800 Premises Lease term and shall end on the day preceding the fifth (5th) anniversary of the 3800 Premises Lease term’s expiration date (the “Option Period”).

 

A.                                    Tenant’s option to extend shall be exercisable by written notice of Tenant’s election to extend the Lease Term from Tenant to Landlord received no later than three hundred sixty (360) days prior to the expiration of the Term. If not so exercised, Tenant’s option under this section shall thereupon expire.

 

B.                                    The Base Rent payable during the Option Period with respect to the Leased Premises shall be equal to the Market Rental Rate (as hereinafter defined in this Section G hereof (for the five (5) year lease term commencing on or about the date of commencement of the Option Period).

 

C.                                    Tenant may only exercise its extension option granted hereunder so long as the entire 3800 Premises is then occupied by the original Tenant hereunder and Tenant has not assigned this Lease or sublet the Leased Premises.

 

D.                                    Landlord shall within thirty (30) days of receiving notice of Tenant’s election to extend and in response to Tenant’s written request, advise Tenant in writing of Landlord’s determination of the Market Rental Rate for term commencing on or about the date of the commencement of the Option Period.

 

E.                                     Tenant shall advise Landlord within fifteen (15) days of notice of Market Rental Rate of its intention to accept such rental rate.

 

F.                                      Within ten (10) days after Tenant’s acceptance of Landlord’s determination of the Market Rental Rates as set forth in Section D and E hereof,

 

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Landlord and Tenant shall enter into a written supplement to this Lease confirming the revisions to the rental provisions contained in this Lease as may be necessary to confirm the change in the Base Rent. In the event a written supplement is not executed within said ten (10) day period by Tenant, Tenant’s right to exercise its option to extend shall thereupon expire.

 

G.                               For purposes of this section, the “Market Rental Rate” shall mean the then prevailing annual rental rate per square foot of rentable area, as determined in good faith by Landlord, for improved space comparable to the Premises in area and location. The components of the Market Rental Rate may include, among the other then prevailing components of rent: a fixed annual rent (such as Base Rent), periodic adjustments or additions to a fixed annual rent based on a share of the Building real estate taxes and other expenses (such as Additional Rent) in excess of a certain amount of increases based on an inflation index (such as a CPI Adjustment), and any concessions for Rent abatement and build-out allowances available to new tenants who may lease space within the Building.

 

H.                              In the event Landlord and Tenant do not reach agreement concerning the Market Rate, then Landlord and Tenant shall each designate an independent, licensed real estate broker, within seven (7) days from the expiration of the thirty (30) day period after Landlord has notified Tenant of its Market Rate determination, who shall have not less than five (5) years’ experience as a real estate broker specializing in commercial leasing and who shall be familiar with the commercial real estate market in which the Premises is located. Said brokers shall each determine the Market Rate within fifteen (15) days. If the lower of the two determinations is not less than ninety-five percent (95%) of the higher of the two determinations, then the Market Rate shall be the average of the two determinations. If the lower of the two determinations is less than ninety-five percent (95%) of the higher of the two determinations, then the two brokers shall render separate written reports of their determinations and within fifteen (15) days thereafter the two brokers shall appoint a third broker with like qualifications. Such third broker shall be furnished the written reports of the first two brokers. Within fifteen (15) days after the appointment of the third (3rd) broker, the third broker shall appraise the Market Rate. The Market Rate, for purposes of this section, shall equal the average of the two closest determinations; provided, however, that (i) if any one determination is agreed upon by any two of the brokers, then the Market Rate shall be such determination, and (ii) if any one determination is equidistant from the other two determinations, then the Market Rate shall be such middle determination. Landlord and Tenant shall each bear the cost of its broker and shall share equally the cost of the third broker.

 

11.                          Terms of Lease Binding. All terms and provisions of the Lease are incorporated herein as if set forth in full content.

 

12.                          Complete Understanding. This Amendment constitutes the entire agreement between the parties with respect to the subject matter hereof; this

 

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unless the same is in writing and signed by all of the parties hereto. No waiver of any provision of the Lease or any Amendment shall be valid unless in writing and signing by the person or party to be charged.

 

IN WITNESS WHEREOF, the parties have executed this Amendment to Lease as of the day and date first above written.

 

	
 
    	
LANDLORD:
    
	
 
    	
 
    
	
 
    	
3800   WILKE L.L.C.,
    
	
 
    	
an   Illinois limited liability company
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
First   American Properties L.L.C.,
    
	
 
    	
 
    	
managing   agent
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/C.   Mark Jordan
    
	
 
    	
 
    	
C.   Mark Jordan
    
	
 
    	
 
    	
Authorized   Representative
    
	
 
    	
 
    	
 
    
	
 
    	
TENANT:
    
	
 
    	
 
    
	
 
    	
PAYLOCITY   CORPORATION, an Illinois corporation
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/Peter McGrail
    
	
 
    	
 
    	
 
    	
Its: 
    	
CFO
    

 

7

 

	
Featherstone   Consulting, Inc.
    	
32 Fawn Ridge Drive
    	
Phone: (847) 462-8120
    
	
Architects &   Planners,
    	
Oakwood Hills, Illinois 60013
    	
Fax: (847) 462-8065
    

 

April 16, 2013

 

First American Properties 

1731 N. Marcey St.

Suite 520

Chicago, Illinois 60614

 

Attn: Kathy Brush

 

	
 
    	
RE: Commerce   Point I
    
	
 
    	
Paylocity
    
	
 
    	
3rd   Floor
    
	
 
    	
Job   # 0426-AS Concept #5
    

 

Dear Ms. Brush:

 

Attached you will find the PDF file of the Preliminary Space Plan for the above prospective tenant. We have attempted to provide for all the basic elements requested by the tenant. You may wish to review the plan and advise us if it is acceptable or if anything has been overlooked.

 

During the preparation of this preliminary plan, we noted that the following items should be reviewed with the General Contractor and Owner:

 

1.                                      On the plan, all new tenant interior partitions are indicated with hollow lines and all the existing partitions are indicated with solid lines. New corridor partitions and partitions around the Training Rooms are indicated with cross hatching and shall extend to the deck above. Partitions between Training Rooms and Training Rooms and workstations to have sound board added to each side of the wall behind the gypsum board. Partitions to be removed are indicated as dashed on the plan. Patch all existing walls to remain as needed to look as new.

 

2.                                      Provide new vinyl tile floors in the Break Room, Supply Rooms, IDF Closets, Electric Rooms and Data Room. Install new building standard carpeting in the balance of the space. Carpet color and tile color to be selected by the tenant to match the tenant’s existing finishes on the fourth floor of the 3850 building.

 

3.                                      Provide new egg shell wall paint on all walls thru-out the tenant space. Allow for three paint colors in the space. Provide for smooth finish at all perimeter office walls. Provide new 4” vinyl base at all walls. Install coved base at tile areas and straight base at carpeting. Paint color and base color to match the tenant’s existing finishes.

 

4.                                      Provide recessed indirect fluorescent fixtures and dimmable fluorescent down lights and dimmers in each of the Training Rooms. Provide building standard parabolic 2’x2’ & 2’x4’ fluorescent fixtures with T8 lamps and electronic ballasts thru-out the balance of the space. Provide switching in each room and space with occupancy detectors or split switching to meet the energy conservation code.

 

5.                                      Verify the existing ceiling grid and rework as needed for the new layout. All tiles to be

 

 

replaced with new building standard regressed tiles.

 

6.                                      New phone and electrical shall be building standard as indicated on the plan. All outlets indicated are new proposed locations. Data and phone outlet boxes and 3/4” conduit (unless noted otherwise) into the ceiling are to be provided as part of the construction with all cabling, outlets and cover plates provided and installed by the tenant. All cabling thru the ceiling plenum shall be plenum approved type. Verify existing electric service and rework as needed for this space. Provide dedicated electric outlets for the printers, copiers, microwave ovens, vending machines, water heater, and outlet adjacent to desk in each office. Provide three 208 volt 20 amp dedicated outlets dropped from the ceiling in the IDF rooms as indicated. Verify electrical requirements for the Data Room located in the lower level. Provide connections to tenant wired workstations with one circuit to every two stations and data conduits sized for 2 cables to each station in each group. Final connections of the stations to the outlets to be provided by the furniture installer. Provide flush floor outlets in each of the Conference Rooms with power, phone and data connection with 1 1/4” conduit for low voltage. Verify electrical connections in the Training Rooms with the furniture system. Provide boxes and conduits for card access at all doors tagged “C” on the plan. Relocate existing electric panels as needed for the new layout. Provide locks on all electric panels which are in open unlocked spaces. Existing horns and battery lights are indicated for reference only and will need to be adjusted and added to as needed for the new layout. Verify additional electrical requirements with the tenant.

 

7.                                      All interior doors to be building standard doors and aluminum frames. The existing glass entry doors and side lights are to remain. All doors with 90 degree swings are new doors. Doors with 45 degree swings are existing to remain. The existing doors ro be removed are indicated as dashed. Provide electric strikes at all doors tagged “C” on the plan and locks at all office and conference room doors.

 

8.                                      Furniture indicated on the plan shall be provided by the tenant and is indicated here for scale and layout. Actual furniture may vary from that indicated. Workstations to be provided, installed and wired by the tenant.

 

9.                                      All existing blinds to be repaired as required for proper operation.

 

10.                               Re-balance the entire HVAC system for proper air flow to each area.

 

11.                               Provide new base and wall cabinets with plastic laminate counter and ss sinks in the Break Room as indicated. Provide lowered section of counter with recessed front panel at the sink per IAC requirements. Include under counter water heater with drip pan and drain. Provide new plumbing as required to nearest riser locations. Allow space for tenant provided refrigerator and vending equipment. Provide dishwasher with all required connections. Laminate counter top color to be selected by the tenant from standard colors. Include water lines with shut-offs at each refrigerator, coffee station and vending area as indicated. Remove existing plumbing at removed sink locations back to risers as required by code.

 

12.                               Provide hat shelf and hangrod per IAC requirements in the coat closet.

 

13.                               Provide recessed motorized projection screens in Training Room 1 and pull down screens in the other Training Rooms and Conference Rooms. Include supports from structure

 

 

above and all wiring for a complete installation.

 

14.                               Provide ceiling outlets in the Training Rooms and Conference Rooms for tenant installed video projectors. All data wiring to be routed back to the IDF Rooms.

 

Please let me know of any additional services or information which we can provide for you on this project. We have issued copies of the plan by e-mail to Mark Jordan, Ron Rutkowski, Kimberly Sullivan and Peter McGrail for review.

 

	
Very   truly yours,
    	
 
    
	
Featherstone   Consulting, Inc.
    	
 
    
	
 
    	
 
    
	
by:
    	
/s/Terry   L. Frisch
    	
 
    
	
 
    	
Terry   L. Frisch, PresidentBRCM-EX10.20_2013.12.31-10K

EXHIBIT 10.20
STANDARD QUARTERLY VESTING
CEO ONLY

BROADCOM CORPORATION 
RESTRICTED STOCK UNIT ISSUANCE AGREEMENT

RECITALS

A.    The Board has adopted the Plan for the purpose of retaining the services of selected Employees and consultants and other independent advisors who provide services to the Corporation (or any Parent or Subsidiary).
B.    Participant is to render valuable services to the Corporation (or a Parent or Subsidiary), and this Agreement is executed pursuant to, and is intended to carry out the purposes of, the Plan in connection with the Corporation’s issuance of shares of Common Stock to the Participant under the Stock Issuance Program.
C.    All capitalized terms in this Agreement shall have the meaning assigned to them in the attached Appendix A.
NOW, THEREFORE, it is hereby agreed as follows:
1.Grant of Restricted Stock Units.  The Corporation hereby awards to the Participant, as of the Award Date, Restricted Stock Units under the Plan. Each Restricted Stock Unit represents the right to receive one share of Common Stock on the vesting date specified for that unit in accordance with the express provisions of this Agreement. The number of shares of Common Stock subject to the awarded Restricted Stock Units, the applicable vesting schedule for those shares, the date or dates on which those vested shares shall become issuable to Participant and the remaining terms and conditions governing the award (the “Award”) shall be as set forth in this Agreement.
AWARD SUMMARY	
		
	Participant:
	_______________________________

	Award Date:
	______________________, 20____

	Vesting Commencement Date:
	______________________, 20___ (the “Vesting Commencement Date”)

	Number of Shares Subject to Award:
	

______________ shares of Common Stock (the “Shares”) 

2014.01.06

	
		
	Vesting Schedule:
	The Shares shall vest in a series of sixteen (16) successive equal quarterly installments upon the Participant’s completion of each successive three (3)-month period of Service (each date on which such three (3)-month period ends, a “Vesting Date”) over the forty-eight (48)-month period measured from the Vesting Commencement Date (the “Normal Vesting Schedule”). However, the Shares may also vest in whole or in part on an accelerated basis in accordance with the provisions of Sections 3 and 5 of this Agreement.

	Issuance Schedule:
	Subject to Section 8 of this Agreement, each quarterly installment of Shares to which the Participant becomes entitled in accordance with the Normal Vesting Schedule shall be issued, subject to the Corporation’s collection of the applicable Withholding Taxes, on the date that installment vests in accordance with such schedule or as soon thereafter as administratively practicable, but in no event later than thirty (30) days after the applicable Vesting Date. Any Shares that vest on an accelerated basis pursuant to Section 3 or 5 of this Agreement shall be issued in accordance with the applicable provisions of such section. The Corporation shall in all instances collect the applicable Withholding Taxes with respect to the issued Shares pursuant to the procedures set forth in Section 7 of this Agreement.

2.        Limited Transferability.  Prior to actual receipt of the Shares that become issuable hereunder, the Participant may not transfer any interest in the Award or the underlying Shares or pledge or otherwise hedge the sale of those Shares, including (without limitation) any short sale or any acquisition or disposition of any put or call option or other instrument tied to the value of those Shares. Any attempt by the Participant to do so will result in an immediate forfeiture of all of the Restricted Stock Units awarded to the Participant hereunder. Any Shares that vest hereunder but which otherwise remain unissued at the time of the Participant’s death may be transferred pursuant to the provisions of the Participant’s will or the laws of inheritance or to the Participant’s designated beneficiary or beneficiaries of this Award. The Participant may also direct the Corporation to immediately re-issue the stock certificates for any Shares that in fact vest and become issuable to Participant under the Award during his or her lifetime to one or more designated Family Members or a trust established for the Participant and/or his or her Family Members. The Participant may make such a beneficiary designation or certificate directive at any time by filing the appropriate form with the Plan Administrator or its designee.
3.    Cessation of Service.  
(a)    Except as otherwise provided in this Section 3 or Section 5 below, should the Participant cease Service for any reason prior to a Vesting Date, then the Award shall be immediately cancelled with respect to those unvested Shares.  Participant shall thereupon cease to have any right or entitlement to receive any Shares under those cancelled units. 

2

(b)    The Normal Vesting Schedule requires continued Service by the Participant through each Vesting Date as a condition to the vesting of that quarterly installment and the rights and benefits provided under this Agreement with respect to that installment. Accordingly, if the Participant’s Service terminates for any reason prior to an applicable quarterly Vesting Date, this Award shall be immediately cancelled, and no further Restricted Stock Units shall thereafter vest.  Service for only a portion of a quarterly vesting period, even if a substantial portion, will not entitle the Participant to any proportionate vesting for that quarter or avoid or mitigate the cancellation and forfeiture of the Restricted Stock Units that will occur upon the termination of his Service prior to vesting in all the Restricted Stock Units subject to this Award. Upon the cancellation of one or more Restricted Stock Units, the Participant shall cease to have any right or entitlement to receive any Shares under those cancelled units.
(c)    The Participant also has an employment agreement with the Corporation in the form of an amended and restated letter agreement and appendix (the “Employment Agreement”) pursuant to which the Participant’s equity or equity-based awards from the Corporation, including this Award, may vest in whole or in part on an accelerated basis in connection with the Participant’s cessation of Employee status under various specified circumstances. The Employment Agreement also sets forth the date or dates on which the shares of Common Stock subject to the awards that vest on such an accelerated basis, including the Shares subject to this Award, are to be issued, subject to certain required delays as set forth in the Employment Agreement.  The terms and provisions of the Employment Agreement, as they apply to this Award, are hereby incorporated by reference into this Agreement and shall have the same force and effect as if expressly set forth in this Agreement.  
(d)    In the event the Participant’s Employee status terminates prior to vesting in all the Shares due to his death or Disability, then the applicable death and Disability provisions of the Employment Agreement shall govern the Participant’s rights and entitlements.
4.    Shareholder Rights. 
(a)    The Restricted Stock Units subject to this Award do not impose any fiduciary obligations upon the Corporation and create only a contractual obligation on the part of the Corporation to issue the Shares that vest in accordance with the express terms of this Agreement.  The Restricted Stock Units shall not be treated as property or as a trust fund of any kind.
(b)    Participant shall not have any shareholder rights, including voting, dividend or liquidation rights, with respect to the Shares subject to the Award until Participant becomes the record holder of those Shares upon their actual issuance following the Corporation’s collection of the applicable Withholding Taxes.  
(c)    Except as otherwise provided in Section 6, no adjustments will made to this Award for dividends or other shareholder distributions for which the record date is prior to the date Participant becomes the record holder of the Shares subject to this Award.  

3

5.     Change of Control. 
(a)    Any Restricted Stock Units subject to this Award at the time of a Change in Control may be assumed by the successor entity or otherwise continued in full force and effect or may be replaced with a cash retention program of the successor entity that preserves the Fair Market Value (at the time of the Change in Control) of the unvested shares of Common Stock subject to the Award  and provides for the subsequent vesting and payout of that value in accordance with the same vesting and issuance schedules applicable to the Award. In the event of such assumption or continuation of this Award or such replacement of the Award with a cash retention program, no accelerated vesting of the Restricted Stock Units or the underlying Shares shall occur at the time of the Change in Control.
(b)    In the event this Award is assumed or otherwise continued in effect, the Restricted Stock Units subject to the Award shall be adjusted immediately after the consummation of the Change in Control so as to apply to the number and class of securities into which the Shares subject to those units immediately prior to the Change in Control would have been converted in consummation of that Change in Control had those Shares actually been issued and outstanding at that time.  To the extent the actual holders of the outstanding Common Stock receive cash consideration for their Common Stock in consummation of the Change in Control,  the successor corporation (or parent entity) may, in connection with the assumption or continuation of the Restricted Stock Units subject to the Award at that time, substitute one or more shares of its own common stock with a fair market value equal to the cash consideration paid per share of Common Stock in the Change in Control transaction, provided the substituted common stock is readily tradable on an established U.S. securities exchange or market.    
(c)    If the Participant’s Employee status continues until the Change in Control and the Restricted Stock Units subject to this Award at the time of the Change in Control are not assumed or otherwise continued in effect or replaced with a cash retention program in accordance with Section 5(a), then those units will vest immediately prior to the closing of the Change in Control. The Shares subject to those vested units shall be converted into the right to receive the same consideration per share of Common Stock payable to the other shareholders of the Corporation in consummation of that Change in Control, and such consideration per Share shall be distributed to Participant upon such Change in Control or at the earlier of (1) such later time or times as the consideration is paid to the other holders of Common Stock in connection with the Change in Control or (2) such time or times that are in accordance with the issuance schedules applicable to the Award, provided that in no circumstances will the consideration per Share be distributed at such time or times that would cause the Participant to include amounts payable in respect of the Restricted Stock Units in income under Code Section 409A.
(d)    This Agreement shall not in any 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.

4

6.    Adjustment in Shares.  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, then equitable adjustments shall be made by the Plan Administrator to the total number and/or class of securities issuable pursuant to this Award. The adjustments shall be made by the Plan Administrator in such manner as the Plan Administrator deems appropriate to reflect such change, and those adjustments shall be final, binding and conclusive. In the event of a Change in Control, the provisions of Section 5 shall be controlling. 
7.    Issuance of Shares of Common Stock.  
(a)    Except as otherwise provided in Section 5(c), on any applicable date that Shares are to be issued pursuant to this Agreement, the Corporation shall issue to or on behalf of Participant a certificate (which may be in electronic form) for the vested shares of Common Stock to be issued on that date. 
(b)     The applicable Withholding Taxes with respect to the issued Shares or any other consideration distributed to Participant shall be collected from Participant as and when such taxes become due.  Participant may, with respect to the issued Shares, satisfy the applicable Withholding Taxes through one or more of the following methods: 
(i)    The delivery of a separate check payable to the Corporation; 
(ii)    if and to the extent expressly authorized by the Plan Administrator at the time, through a share withholding procedure, pursuant to which the Corporation will automatically withhold, immediately upon the issuance of the Shares, a portion of those Shares with a Fair Market Value (measured as of the issuance date) equal to the amount of such Withholding Taxes  (the “Share Withholding Method”); provided, however, that the amount of any Shares so withheld shall not exceed the amount necessary to satisfy the Corporation’s required tax withholding obligations using the minimum statutory withholding rates for federal and state tax purposes, including payroll taxes, that are applicable to supplemental taxable income. Participant will be notified (either in writing or through electronic transmission) of the time or times when the Share Withholding Method will actually be available with respect to one or more vested Shares that become issuable under this Agreement (such notification will also set forth the procedures authorized and established by the Plan Administrator for such purpose); 

5

(iii)    irrevocable instructions given by Participant to a broker to remit to the Corporation cash, in an amount equal to such Withholding Taxes, from a previously established account Participant maintains with such broker; or
(iv)    to the extent the Share Withholding Method is not otherwise available at the time one or more vested Shares become issuable,  Participant may also satisfy the applicable Withholding Taxes with respect to those Shares through the use of proceeds from a next day sale of the issued  Shares, provided and only if (i) such a sale is permissible under the Corporation’s insider trading policies governing sales of Corporation shares and (ii) such transaction is not otherwise deemed to constitute a prohibited loan under Section 402 of the Sarbanes-Oxley Act of 2002. 
(c)    If any withholding event is other than the issuance of the Shares, or if the Corporation for any reason is unable to collect the applicable Withholding Taxes with respect to the issuance of the Shares through any of the foregoing collection procedures specified in this Section 7, then the Corporation shall be entitled to require Participant to make a cash payment and/or to deduct from other compensation payable to him or her the amount of such applicable Withholding Taxes.
(d)    Notwithstanding the foregoing provisions of this Section 7, the employee portion of the federal, state and local employment taxes required to be withheld by the Corporation in connection with the vesting of the Shares or any other amounts hereunder (the “Employment Taxes”) shall in all events be collected from the Participant no later than the last business day of the calendar year in which the Shares or other amounts vest hereunder.  Accordingly, to the extent the issuance date for one or more vested Shares or the distribution date for such other amounts is to occur in a year subsequent to the calendar year in which those Shares or other amounts vest hereunder, the Participant shall, on or before the last business day of the calendar year in which the Shares or other amounts vest, deliver to the Corporation a check payable to its order in the dollar amount equal to the Employment Taxes required to be withheld with respect to those Shares or other amounts.  The provisions of this Section 7(d) shall be applicable only to the extent necessary to comply with the applicable tax withholding requirements of Code Section 3121(v). 
(e)    Except as otherwise provided in Section 5 or Section 7(b), the settlement of all Restricted Stock Units that vest under the Award shall be made solely in shares of Common Stock.  In no event, however, shall any fractional shares be issued. Accordingly, the total number of shares of Common Stock to be issued at the time the Award vests shall, to the extent necessary, be rounded down to the next whole share to avoid the issuance of a fractional share.
8.    Code Section 409A Limitations.  Notwithstanding any provision in this Agreement to the contrary, should this Agreement be deemed a deferred compensation arrangement subject to Section 409A of the Code:

6

-    In no event shall the Shares that become issuable under this Agreement in connection with the Participant’s cessation of Employee status be actually issued, nor shall Participant have any right to the issuance of those Shares, prior to the date on which the Participant incurs a Separation from Service due to that cessation of Employee status.
-    If the issuance date for the Shares (or the distribution date of any other amounts due the Participant hereunder) is tied to the Participant’s Separation from Service in accordance with the applicable provisions of this Agreement or the Employment Agreement, then in no event will the Shares be issued (or such amounts be distributed) prior to the earlier of (i) the first day of the seventh (7th) month following the date of such Separation from Service or (ii) the date of Participant’s death, if Participant is deemed at the time of such Separation from Service to be a specified employee under Section 1.409A-1(i) of the Treasury Regulations issued under Code Section 409A, as determined by the Plan Administrator in accordance with consistent and uniform standards applied to all other Code Section 409A arrangements of the Corporation, and such delayed commencement is otherwise required to avoid a prohibited distribution under Code Section 409A(a)(2).  Upon the expiration of the applicable deferral period, the Shares shall be issued (or any other amounts due the Participant hereunder shall be distributed) in a lump sum on the first day of the seventh (7th) month after the date of Participant’s Separation from Service, or if earlier, the first day of the month immediately following the date the Corporation receives proof of Participant’s death.
In addition, it is the intent of the Corporation and the Participant that the provisions of this Agreement comply with all applicable requirements of Section 409A of the Code.  Accordingly, to the extent there is any ambiguity as to whether one or more provisions of this Agreement would otherwise contravene the applicable requirements or limitations of Code Section 409A, then those provisions shall be interpreted and applied in a manner that does not result in a violation of the applicable requirements or limitations of Code Section 409A and the applicable Treasury Regulations thereunder.  
9.        Deferred Release Date.  Should the applicable Restricted Stock Unit issuance date occur during any period Participant is under investigation by the Corporation for any act or transaction that might constitute grounds for termination for Misconduct, then those issued Shares and/or the net proceeds from any sale or sales of those Shares during such period (the gross sale proceeds less  withholding taxes due the Corporation and broker commissions) will be held by the Corporation in escrow until such time as the investigation is satisfactorily completed.  If it is determined that Participant has not engaged in any action or transaction that might constitute grounds for a termination for Misconduct. then the escrowed Shares and/or funds will be released to Participant, subject to the Corporation’s collection of all applicable  Withholding Taxes not otherwise previously collected, as soon as administratively practicable following the completion of the investigation,  but in no event later than the close of the calendar 

7

year in which such determination is made.  If it is determined that the Participant has engaged in any act or transaction that constitutes grounds for termination for Misconduct, then Participant shall cease to have any further right, title or interest in the escrowed Shares and/or funds, and those Shares and funds shall be returned to the Corporation.
10.         Securities Law Compliance. The Corporation shall use its reasonable commercial efforts to assure that all Shares issued pursuant to this Agreement are registered under the federal securities laws. However, no Shares will be issued pursuant to this Award if such issuance would otherwise constitute a violation of any applicable federal or state securities laws or regulations or the requirements of any Stock Exchange on which the Common Stock may then be listed. The inability of the Corporation to obtain approval from any regulatory body having authority deemed by the Corporation to be necessary to the lawful issuance of any Shares hereunder shall defer the Corporation’s obligation with respect to the issuance of such Shares until such approval shall have been obtained.
11.        Transfer Restriction.  None of the issued Shares may be sold or transferred in contravention of (i) any market blackout periods the Corporation may impose from time to time or (ii) the Corporation’s insider trading policies to the extent applicable to you from time to time.
12.        Parachute Payment .  In the event the accelerated vesting and issuance of the Shares subject to this Award would otherwise constitute a parachute payment under Code Section 280G, then the applicable parachute payment provisions of the Employment Agreement shall govern the Participant’s rights and entitlements.
13.        Notice. Any notice to be given or delivered to the Corporation relating to this Agreement shall be in writing and addressed to the Corporation at its principal corporate offices. Any notice to be given or delivered to Participant relating to this Agreement shall be in writing and addressed to Participant at the address indicated below his or her signature line on the last page of this Agreement or such other address of which Participant may later advise the Corporation in writing. All notices shall be deemed effective upon personal delivery or upon deposit in the U.S. mail, postage prepaid and properly addressed to the party to be notified.
14.        Successors and Assigns. The provisions of this Agreement shall inure to the benefit of, and be binding upon, the Corporation and its successors and assigns and upon Participant and the legal representatives, heirs and the legatees of his or her estate.
15.        Construction. This Agreement and the Award evidenced hereby are made and granted pursuant to the Plan and are in all respects limited by and subject to the terms of the Plan. The Plan Administrator shall have the discretionary authority to interpret and construe any term or provision of the Plan or this Agreement, and such interpretation shall be binding on all persons having an interest in the Award.

8

16.        Governing Law. The interpretation, performance and enforcement of this Agreement shall be governed by the laws of the State of California without resort to that State’s conflict-of-laws rules.
17.         At Will Employment. Nothing in this Agreement or the Award shall provide Participant with any right to continue in Service for any period of specific duration or interfere with or otherwise restrict in any way Participant’s right or the right of the Corporation to terminate Participant’s Service at any time for any reason, with or without cause, or for no reason.  
18.        Mandatory Arbitration. ANY AND ALL DISPUTES OR CONTROVERSIES BETWEEN PARTICIPANT AND THE CORPORATION ARISING OUT OF, RELATING TO OR OTHERWISE CONNECTED WITH THIS AGREEMENT OR THE AWARD OF RESTRICTED STOCK UNITS EVIDENCED HEREBY OR THE VALIDITY, CONSTRUCTION, PERFORMANCE OR TERMINATION OF THIS AGREEMENT SHALL BE SETTLED EXCLUSIVELY BY BINDING ARBITRATION TO BE HELD IN THE COUNTY IN WHICH PARTICIPANT IS (OR HAS MOST RECENTLY BEEN) EMPLOYED BY THE CORPORATION (OR ANY PARENT OR SUBSIDIARY) AT THE TIME OF SUCH ARBITRATION. THE ARBITRATION PROCEEDINGS SHALL BE GOVERNED BY (i) THE NATIONAL RULES FOR THE RESOLUTION OF EMPLOYMENT DISPUTES THEN IN EFFECT OF THE AMERICAN ARBITRATION ASSOCIATION AND (ii) THE FEDERAL ARBITRATION ACT. THE ARBITRATOR SHALL HAVE THE SAME, BUT NO GREATER, REMEDIAL AUTHORITY AS WOULD A COURT HEARING THE SAME DISPUTE. THE DECISION OF THE ARBITRATOR SHALL BE FINAL, CONCLUSIVE AND BINDING ON THE PARTIES TO THE ARBITRATION AND SHALL BE IN LIEU OF THE RIGHTS THOSE PARTIES MAY OTHERWISE HAVE TO A JURY TRIAL; PROVIDED, HOWEVER, THAT SUCH DECISION SHALL BE SUBJECT TO CORRECTION, CONFIRMATION OR VACATION IN ACCORDANCE WITH THE PROVISIONS AND STANDARDS OF APPLICABLE LAW GOVERNING THE JUDICIAL REVIEW OF ARBITRATION AWARDS. THE PREVAILING PARTY IN SUCH ARBITRATION, AS DETERMINED BY THE ARBITRATOR, AND IN ANY ENFORCEMENT OR OTHER COURT PROCEEDINGS, SHALL BE ENTITLED, TO THE EXTENT PERMITTED BY LAW, TO REIMBURSEMENT FROM THE OTHER PARTY FOR ALL OF THE PREVAILING PARTY’S COSTS, EXPENSES AND ATTORNEY’S FEES.  HOWEVER, THE ARBITRATOR’S COMPENSATION AND OTHER FEES AND COSTS UNIQUE TO ARBITRATION SHALL IN ALL EVENTS BE PAID BY THE CORPORATION.  JUDGMENT SHALL BE ENTERED ON THE ARBITRATOR’S DECISION IN ANY COURT HAVING JURISDICTION OVER THE SUBJECT MATTER OF SUCH DISPUTE OR CONTROVERSY. NOTWITHSTANDING THE FOREGOING, EITHER PARTY MAY IN AN APPROPRIATE MATTER APPLY TO A COURT PURSUANT TO CALIFORNIA CODE OF CIVIL PROCEDURE SECTION 1281.8, OR ANY COMPARABLE STATUTORY PROVISION OR COMMON LAW PRINCIPLE, FOR PROVISIONAL RELIEF, INCLUDING A TEMPORARY RESTRAINING ORDER OR A 

9

PRELIMINARY INJUNCTION. TO THE EXTENT PERMITTED BY LAW, THE PROCEEDINGS AND RESULTS, INCLUDING THE ARBITRATOR’S DECISION, SHALL BE KEPT CONFIDENTIAL.
19.        Electronic Delivery. The Corporation may, in its sole discretion, decide to deliver any document related to the Award, the Plan or future awards that may be granted under the Plan by electronic means, and Participant hereby consents to receive such documents by electronic delivery.
20.        Remaining Terms. The remaining terms and conditions of this Award are governed by the Plan, and this Award is also subject to all interpretations, amendments, rules and regulations that may from time to time be adopted under the Plan. The official prospectus summarizing the principal features of the Plan and the restricted stock units issuable under the Plan is available for review on the Corporation’s website at http://finbu.broadcom.com/stock/default.aspx.  In the event of any conflict between the provisions of this Agreement and those of the Plan, the provisions of the Plan shall be controlling. In the event of any conflict between the provisions of this Agreement and those of the Employment  Agreement, the provisions of the Employment Agreement shall be controlling.  Provisions of the Plan that confer discretionary authority on the Board or the Plan Administrator do not (and shall not be deemed to) confer in Participant any rights, except to the extent such rights are expressly set forth herein or are otherwise in the sole discretion of the Board or the Plan Administrator expressly conferred by appropriate action after the date hereof.
IN WITNESS WHEREOF, the parties have executed this Agreement on the day and year first indicated above.
	
		
	BROADCOM CORPORATION

	 
	 

	By:
	 

	Title:
	 

	PARTICIPANT

	 
	 

	Signature:
	 

	Name:
	 

	Address:
	 

	 
	 

10

EXHIBIT 10.20
STANDARD QUARTERLY VESTING
CEO ONLY

APPENDIX A 

DEFINITIONS
The following definitions shall be in effect under the Agreement:
A.    Agreement shall mean this Restricted Stock Unit Issuance Agreement.
B.    Award shall mean the award of Restricted Stock Units made to the Participant pursuant to the terms of this Agreement.
C.    Award Date shall mean the date the Restricted Stock Units are awarded to Participant pursuant to the Agreement and shall be the date indicated in Section 1 of the Agreement.
D.    Board shall mean the Corporation’s Board of Directors.
E.    Change in Control shall mean a change in ownership or control of the Corporation effected through any of the following transactions:
 (i)    a shareholder-approved merger, consolidation or other reorganization, unless securities representing more than fifty percent (50%) of the total combined voting power of the outstanding securities of the successor corporation are immediately after such transaction, beneficially owned, directly or indirectly and in substantially the same proportion, by the persons who beneficially owned Broadcom’s outstanding voting securities immediately prior to such transaction,
(ii)     a shareholder-approved sale, transfer or other disposition of all or substantially all of Broadcom’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 Broadcom 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, Broadcom, becomes 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) the beneficial owner (within the meaning of Rule 13d-3 of the 1934 Act) of securities possessing (or convertible into or exercisable for securities possessing) more than fifty percent (50%) of the total combined voting power of Broadcom’s securities (as measured in terms of the power to vote with respect to the election of Board members) outstanding 

A-1

EXHIBIT 10.20
STANDARD QUARTERLY VESTING
CEO ONLY

immediately after the consummation of such transaction or series of related transactions, whether the transaction or transactions involve a direct issuance from Broadcom or the acquisition of outstanding securities held by one or more of Broadcom’s existing shareholders, or
(iv)    a change in the composition of the Board over a period of twenty-four (24) 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; provided, however, that solely for purposes of determining whether a permissible Section 409A distribution can be made under Section 5(d) in connection with such Change in Control event, the period for measuring a change in the composition of the Board shall be limited to a period of twelve (12) consecutive months or less;
Provided, however, that if this Agreement is deemed to constitute a deferred compensation arrangement for purposes of Code Section 409A, then for purposes of any circumstances in which a Change in Control constitutes a payment date or settlement date with respect to the Restricted Stock Units subject hereto, including without limitation, pursuant to Section 5(c) above, the foregoing shall only constitute a Change in Control to the extent that such transaction(s) also constitute a “change in control event” within the meaning of Code Section 409A.
F.    Code shall mean the Internal Revenue Code of 1986, as amended.
G.    Common Stock shall mean shares of the Corporation’s Class A common stock.
H.    Corporation shall mean Broadcom Corporation, a California corporation, and any successor corporation to all or substantially all of the assets or voting stock of Broadcom Corporation that shall by appropriate action adopt the Plan. 
I.    Employee shall mean an individual who is in the employ of the Corporation (or any Parent or Subsidiary), 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.
J.    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 Select Market (or the Nasdaq Global Market), then the Fair Market Value 

A-2

EXHIBIT 10.20
STANDARD QUARTERLY VESTING
CEO ONLY

shall be the closing selling price per share of Common Stock at the close of regular trading hours (i.e. before after-hours trading begins) on the Nasdaq Global Select Market (or the Nasdaq Global Market) on the date in question, as such price is reported by the Nasdaq Global Select Market (or the Nasdaq Global Market) either as reported on the Nasdaq website (www.nasdaq.com), or otherwise. 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, the then Fair Market Value shall be the closing selling price per share of Common Stock at the close of regular hours trading (i.e., before after-hours trading begins) 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. If there is no closing selling price for the Common Stock on the date in question, the then Fair Market Value shall be the closing selling price on the last preceding date for which such quotation exists.
L.        Family Members shall mean, with respect to the 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.     
M.        Misconduct shall mean the commission of any act of fraud, embezzlement or dishonesty by the Participant, any unauthorized use or disclosure by the Participant of confidential information or trade secrets of the Corporation (or any Parent or Subsidiary), or any other intentional misconduct by the Participant adversely affecting the business or affairs of the Corporation (or any Parent or Subsidiary) in a material manner. The foregoing definition shall not in any way preclude or restrict the right of the Corporation (or any Parent or Subsidiary) to discharge or dismiss the Participant or any other person in the Service of the Corporation (or any Parent or Subsidiary) for any other acts or omissions, but such other acts or omissions shall not be deemed, for purposes of the Plan or this Agreement, to constitute grounds for termination for Misconduct.
N.    1934 Act shall mean the Securities Exchange Act of 1934, as amended from time to time.
O.     Participant shall mean the person to whom the Award is made pursuant to the Agreement.
P.    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 

A-3

EXHIBIT 10.20
STANDARD QUARTERLY VESTING
CEO ONLY

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.
Q.    Plan shall mean the Corporation’s 2012 Stock Incentive Plan, as amended and restated from time to time.
R.    Plan Administrator shall mean either the Board or a committee of the Board acting in its capacity as administrator of the Plan. 
S.    Separation from Service shall mean a “separation from service” from the Corporation (within the meaning of Section 409A of the Code).
T.    Service shall mean the Participant’s performance of services for the Corporation (or any Parent or Subsidiary) in the capacity of an Employee, a non-employee member of the board of directors or a consultant or independent advisor.  Service (as defined herein) shall include continued employment or service through any pre-termination notice period that is applicable to the Participant serving in any of the foregoing capacities.  For purposes of the Award, the Participant shall be deemed to cease Service immediately upon the occurrence of either of the following events: (i) the Participant no longer performs services in any of the foregoing capacities for the Corporation or any Parent or Subsidiary, provided that, for the avoidance of doubt, the performance of services shall include continued employment through the period of time occurring during any pre-termination notice period that is applicable to such Participant or (ii) the entity for which the Participant is performing such services ceases to remain a Parent or Subsidiary of the Corporation, even though the Participant may subsequently continue to perform services for that entity.  
U.    Stock Exchange shall mean the American Stock Exchange, the Nasdaq Global or Global Select Market or the New York Stock Exchange.
V.    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. 
W.    Withholding Taxes shall mean the federal, state and local income taxes and the employee portion of the federal, state and local employment taxes required to be withheld by the Corporation in connection with the issuance of the shares of Common Stock to which the Participant becomes entitled under this Agreement or any other consideration that becomes payable to Participant with respect to those shares. 

A-4

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