Document:

Exhibit
10.1

 

ASSET
PURCHASE AGREEMENT

 

THIS
ASSET PURCHASE AGREEMENT made as of the 24th day of August, 2017 (the “Effective Date”), by and among
PositiveID Corporation, a Delaware corporation (“PSID”), PositiveID Diagnostics, Inc., a California corporation (“PSID
Diagnostics” together with PSID, collectively, the “Seller”), and ExcitePCR Corporation, a Delaware corporation
(the “Buyer”).

 

R
E C I T A L S

 

WHEREAS,
the Seller, over the past five years, has been developing the Firefly Dx and Dragonfly Dx technology and products, along with
patents, the applicable know how used in the development of the above products, and breadboard prototypes of both products (the
“Firefly Technology”);

 

WHEREAS,
the Seller believes that Firefly Technology has significant potential value to its stockholders;

 

WHEREAS,
the Seller has determined that potential partners and/or investors key to the completion and commercialization of the Firefly
Technology do not wish to invest in a company that is highly leveraged; and

 

WHEREAS,
the Seller desires to sell and deliver to the Buyer, and the Buyer desires to purchase and receive from Seller all, right, title
and interest in all assets used or useful in connection with the operation of the Firefly Technology, so as to permit the Buyer
to independently pursue the development and improvement of the Firefly Technology.

 

IT
IS THEREFORE AGREED:

 

ARTICLE
I.

ASSETS
TO BE PURCHASED

 

1.1.       Description
of Assets. Upon the terms and subject to the conditions hereof, on the Closing Date (as defined in Section 9.1), the Seller
shall sell, transfer, assign and deliver to the Buyer, and the Buyer shall purchase from the Seller, all of the Seller’s
right, title and interest in and to all of the Seller’s assets exclusively related to the Firefly Technology and any other
derivative works thereto owned by Seller, including, without limitation, the following assets (collectively referred to as the
“Purchased Assets”) which shall be conveyed in the manner described:

 

(a)
The patents and patent applications, including divisions, continuations, renewals, reissuances, and extensions of the foregoing
(as applicable) listed on Schedule 1.1(a) shall be transferred and assigned to the Buyer (the “Assigned Patents”),
pursuant to a patent assignment agreement in the form attached hereto as Exhibit 1.1(a) (the “Patent Assignment Agreement”)’

 

    	 

    	 		 

    

 

(b)
The assets, excluding assets related to the M-BAND product, currently owned by PSID Diagnostics, scheduled on Schedule 1.1(b).

 

1.2.       Certain
Agreements. On or as soon as possible after Closing, PSID shall enter into, assign or transfer to Buyer, as applicable,
the following agreements:

 

(a)
License Agreement. PSID and PSID Diagnostics are a party to a non-exclusive patent license agreement, dated June 4, 2014,
with Lawrence Livermore National Security LLC, for use of a Spore Lysis Microsonicator.

 

(b)
Accounting Services Agreement. The parties shall enter into the Accounting Services Agreement the form of which is attached
hereto as Exhibit 1.2(b). The initial monthly charge for the services will be $5,000 per month.

 

(c)
Lease with Thermo Fischer. PSID is a party to a lease agreement, dated December 2, 2015, with Thermo Fischer Financial
Services, Inc. for a 7500FST real-time PCR SYS, LAPTP device.

 

(d)
Office Lease/Lab. PSID is a party to an office lease, dated October 4, 2011, as amended October 22, 2015, with Edenglen Technologies,
LLC, for the space located at 1252 Quarry Lane, Suite A, Pleasanton, CA 94566.

 

ARTICLE
II.

ASSUMPTION
OF LIABILITIES 

 

2.1       The
Buyer will assume the liabilities as listed on Schedule 2.1(a). In addition, the Parties will cooperate to transfer the
certain agreements key to the Firefly Technology set forth in Section 1.2.

 

ARTICLE
III.

PURCHASE
PRICE

 

3.1       Consideration.
The consideration to be paid by the Buyer to the Seller for the Purchased Assets, shall be 10,500,000 shares of common stock
of the Buyer (the “Consideration”). The number of shares of common stock of the Buyer delivered at Closing shall be
adjusted for any stock splits occurring on or after the Effective Date.

 

ARTICLE
IV.

REPRESENTATIONS
AND WARRANTIES OF THE SELLER 

 

As
an inducement to the Buyer to enter into and perform its obligations under this Agreement, the Seller hereby represents and warrants
to the Buyer as of the date hereof and as of the Closing Date as follows:

 

4.1.       Organization;
Enforceability. PSID is a corporation duly organized, validly existing and in good standing under the laws of the State
of Delaware. PSID Diagnostics is a corporation duly organized, validly existing and in good standing under the laws of the State
of California. The execution and delivery of this Agreement, and consummation of the transactions contemplated herein, have been
duly and validly authorized by the Board of Directors of each Seller and the stockholders of PSID. This Agreement will, upon execution
and delivery, be a legal, valid and binding obligation of each Seller, enforceable against such Seller in accordance with its
terms, except as may be limited by bankruptcy, insolvency or other laws affecting creditors’ rights generally.

 

    	-2-

    	 		 

    

 

 

4.2.       No
Breach or Default. Except as set forth on Schedule 4.2, the execution and delivery of this Agreement, and the consummation
of the transactions herein provided will not:

 

(a)
Result in the breach of any of the terms or conditions of, or constitute a default under, or in any manner release any Seller
from any obligations under, or accelerate any mortgage, note, bond, contract, indenture, agreement, license or other instrument
or obligation of any kind or nature to which any Seller is now a party or by which any of its properties or assets may be bound
or affected;

 

(b)
Violate any order, writ, injunction or decree of any court, administrative agency or governmental body or require the approval,
consent or permission of any governmental body or agency which has not been heretofore obtained; or

 

(c)
Violate any provision of the Certificate of Incorporation or Bylaws of any Seller.

 

4.3.       Bankruptcy
and Insolvency. No petition in bankruptcy (voluntary or otherwise), assignment for the benefit of creditors or petition
seeking reorganization or arrangement or other action under federal or state bankruptcy laws is pending on behalf of or against
any Seller.

 

4.4.       Title
to Assets. All of the Purchased Assets are owned by Seller. On the Closing Date, Seller will convey to Buyer good and
marketable title to all of the Purchased Assets, free and clear of all leases, security interests, liens, encumbrances on title,
mortgages, pledges, conditional sale and other title-retention agreements, covenants, restrictions, easements, reservations and
other burdens or charges of title every kind and nature (collectively, “Liens”).

 

4.5.       Intellectual
Property.

 

(a)
As of the Closing Date, Seller is the record owner of all right, title and interest in and to each of the Assigned Patents and
each such Assigned Patent is free and clear of any Liens.

 

(b)
To the knowledge of Seller, the use, operation or other exploitation of the Purchased Assets transferred to Buyer hereunder by
Seller prior to the date hereof did not infringe or misappropriate any of the intellectual property rights of any other person
or entity, and Seller has not received written notice from any person or entity (i) claiming that such Purchased Assets infringes
or misappropriates any of the intellectual property rights of any person or entity, or (ii) disputing Seller’s ownership
of such assets.

 

    	-3-

    	 		 

    

 

(c)
To Seller’s knowledge, no person or entity is infringing upon the Assigned Patents.

 

(d)
To the knowledge of Seller, none of the Assigned Patents is subject to any proceeding or outstanding decree, order, judgment or
settlement agreement or stipulation that restricts in any manner the use, transfer or licensing thereof by Seller or may affect
the validity, use (as contemplated by this Agreement) or enforceability of such Assigned Patents.

 

(e)
To the knowledge of Seller, the know-how is not subject to any proceeding or outstanding decree, order, judgment or settlement
agreement or stipulation that restricts in any manner the use, transfer or licensing thereof by Seller or may affect the use (as
contemplated by this Agreement) of such know-how (as contemplated by this Agreement).

 

4.6.       Litigation
and Governmental Action. There are no suits, actions or claims, legal, administrative or arbitration proceedings pending
or, to Seller’s knowledge, threatened against any Seller, or to which any Seller is a party (whether or not covered by insurance)
which in any manner relate to or affect the Purchased Assets. To Seller’s knowledge, there is not outstanding any notice,
order, writ, injunction or decree of any court, governmental agency or arbitration tribunal relating to or affecting the Purchased
Assets.

 

4.7       No
Disputes. There are no contracts or material disputes between any Seller and any third party with respect to the Assigned
Patents and know-how under which there is any material dispute regarding the scope of the contract or regarding performance under
the contract.

 

4.8       Anti-Takeover
Statute Not Applicable. No “business combination,” “fair price,” “moratorium,” “control
share acquisition” or other similar anti-takeover statute or regulation or anti-takeover provision in any Seller organizational
document is applicable to any Seller, this Agreement, or the transactions contemplated by this Agreement.

 

ARTICLE
V.

REPRESENTATIONS AND WARRANTIES OF THE BUYER

 

As
an inducement to Seller to enter into and perform its obligations under this Agreement, the Buyer hereby represents and warrants
to the Seller as of the date hereof and as of the Closing Date as follows:

 

5.1.       Organization;
Enforceability. The Buyer is a corporation duly organized, validly existing and in good standing under the laws of the
State of Delaware. The execution and delivery of this Agreement, and consummation of the transactions contemplated herein, have
been duly and validly authorized by the Board of Directors of the Buyer. This Agreement will, upon execution and delivery, be
a legal, valid and binding obligation of the Buyer, enforceable against Buyer in accordance with its terms, except as may be limited
by bankruptcy, insolvency or other laws affecting creditors’ rights generally.

 

    	-4-

    	 		 

    

 

5.2.       No
Breach or Default. The execution and delivery of this Agreement, and the consummation of the transactions herein provided
will not:

 

(a)
Result in the breach of any of the terms or conditions of, or constitute a default under, or in any manner release the Buyer from
any obligations under, or accelerate any mortgage, note, bond, contract, indenture, agreement, license or other instrument or
obligation of any kind or nature to which Buyer is now a party or by which any of its properties or assets may be bound or affected;

 

(b)
Violate any order, writ, injunction or decree of any court, administrative agency or governmental body or require the approval,
consent or permission of any governmental body or agency which has not been heretofore obtained; or

 

(c)
Violate any provision of the Certificate of Incorporation or Bylaws of Buyer.

 

5.3.       Bankruptcy
and Insolvency. No petition in bankruptcy (voluntary or otherwise), assignment for the benefit of creditors or petition
seeking reorganization or arrangement or other action under federal or state bankruptcy laws is pending on behalf of or against
the Buyer.

 

    	-5-

    	 		 

    

 

ARTICLE
VI.

AS
IS, WHERE IS

 

6.1       Except
for the representations and warranties of the Seller expressly set forth in this Agreement, the Buyer agrees that the Purchased
Assets are being acquired “as is, where is” at Closing, and in their condition at Closing “with all faults,”
and that the Buyer is relying on its own examination of the Purchased Assets. Without limiting the generality of the foregoing
and except for the representations and warranties expressly set forth in this Agreement, the Buyer understands and agrees that
the Seller expressly disclaim any representations or warranties as to the title, condition, value or quality of the Purchased
Assets, and any representation or warranty of merchantability, usage, suitability or fitness for any particular purpose with respect
to the Purchased Assets or any part thereof, or as to the workmanship thereof or the absence of any defects therein, whether latent
or patent. Except for the representations and warranties of the Seller expressly set forth in this Agreement, the Buyer further
agrees that no information or material provided by or communication made by the Seller, or by any representative of the Seller,
will constitute, create or otherwise cause to exist any representation or warranty.

 

ARTICLE
VII.

CONDITIONS PRECEDENT TO THE BUYER’S OBLIGATIONS

 

Unless
waived by the Buyer, the obligations of the Buyer under this Agreement with respect to the Closing are subject to the fulfillment
of each of the following conditions precedent:

 

7.1       Seller’s
Closing Documents. The Seller shall have executed (as appropriate) and delivered to the Buyer all of the documents to
be provided by it pursuant to Article 9 hereof which are to be delivered to the Buyer.

 

7.2       Authorization.
The Seller shall have provided evidence that execution of the Agreement and consummation of all transactions contemplated herein
have been duly authorized.

 

7.3       Conveyance
Instruments. The bill of sale and other sufficient instruments of conveyance and transfer as shall be effective to vest
in the Buyer all of the Seller’s title to and interest in the Purchased Assets.

 

7.4       Financing.
The Buyer shall have completed financing transaction with net proceeds to the Buyer of at least $3 million.

 

    	-6-

    	 		 

    

 

ARTICLE
VIII.

CONDITIONS PRECEDENT TO THE SELLER’S OBLIGATIONS

 

Unless
waived by the Seller, the obligations of the Seller under this Agreement with respect to the Closing are subject to the fulfillment
of each of the following conditions precedent:

 

8.1       Buyer’s
Closing Documents. The Buyer shall have executed (as appropriate) and delivered to the Seller all of the documents to
be provided by it pursuant to Article 9 hereof which are to be delivered to Seller.

 

8.2       Authorization.
The Buyer shall have provided evidence that execution of the Agreement and consummation of all transactions contemplated herein
have been duly authorized.

 

8.3        Financing.The
Buyer shall have completed financing transaction with net proceeds to the Buyer of at least $3 million.

 

8.4       Consents.
The Seller shall have received all required consents from all third parties.

 

8.5       No
Legal Actions. No governmental authority of competent jurisdiction will have instituted any proceeding to restrain, prohibit
or otherwise challenge the legality or validity of the transactions contemplated herein that has not been dismissed or otherwise
resolved in a manner that does not materially and adversely affect the transactions contemplated herein and no injunction, order
or decree of any Governmental Authority will be in effect that restrains or prohibits the purchase or sale of the Purchased Assets
or the consummation of the other transactions contemplated herein.

 

ARTICLE
IX.

CLOSING

 

9.1       Closing.
The consummation of the purchase and sale of the Purchased Assets and the related transactions and deliveries provided for
herein (“Closing”) shall take place upon satisfaction of all conditions set forth in Sections 7 and 8 of this Agreement
(“Closing Date”), or such other date as the parties may mutually agree.

 

9.2       Documents
to be Delivered by the Seller. At the Closing, the following instruments and documents shall be delivered or provided
to the Buyer by the Seller:

 

		(i)	Bill
                                         of sale and other sufficient instruments of conveyance and transfer as shall be effective
                                         to vest in the Buyer all of the Seller’s title and interest in the Purchased Assets;
                                         

 

		(ii)	The
                                         Accounting Services Agreement;

 

		(iii)	The
                                         Patent Assignment Agreement;

 

    	-7-

    	 		 

    

 

9.3       Documents
to be Delivered by the Buyer. At the Closing, the following instruments and documents shall be delivered or provided by
the Buyer to the Seller:

 

		(i)	The
                                         Consideration;

 

		(ii)	The
                                         Accounting Services Agreement;

 

		(iii)	The
                                         Patent Assignment Agreement;

 

ARTICLE
X.

CONFIDENTIAL INFORMATION 

 

10.1
Confidentiality. Each party agrees to keep the Confidential Information confidential. Each party shall limit disclosure
of the Confidential Information to its employees, directors, officers, consultants, contractors, attorneys, advisors and agents
who otherwise have a need to know the Confidential Information in connection with its business and provided that are advised of
and agree to the obligations contained in this Section 10.1. Each party shall use at least the same degree of care in handling
the Confidential Information as it uses with regard to its other confidential information, and, at a minimum, shall use reasonable
care to protect the Confidential Information. The obligations of this Section 10.1 are continuing in nature and shall survive
termination or expiration of this Agreement.

 

ARTICLE
XI.

POST-CLOSING
OBLIGATIONS OF THE PARTIES

 

On
and after the Closing Date:

 

11.1       Each
party shall execute all certificates, instruments and other documents and take all actions reasonably requested by the other party
to effectuate the purposes of this Agreement and to consummate and evidence the consummation of the transactions herein provided
for. The Seller shall transfer and assign to the Buyer any Purchased Assets owned, registered to or listed with such person related
to the Firefly Technology, and which was not properly transferred prior to Closing.

 

11.2       The
Seller shall take all actions reasonably necessary to transfer the agreements identified in Section 1.2 to the Buyer.

 

11.3       The
Seller shall take all actions reasonably necessary or appropriate to put the Buyer in immediate actual possession and operating
control of all of the Purchased Assets.

 

11.4       The
Seller will indemnify and hold the Buyer harmless from any damage, loss, liability or expense (including, without limitation,
reasonable expenses of investigation, reasonable attorneys’ fees and other reasonable legal costs and expenses) arising
out of any breach of a representation or warranty or covenant made by any Seller in this Agreement, in any exhibit or schedule
attached to this Agreement, or in any agreement, instrument, or document provided to the Buyer by or on behalf of any Seller in
connection with the transactions contemplated hereby.

 

    	-8-

    	 		 

    

 

11.5       The
Buyer agrees to hold harmless, defend, and indemnify each Seller and their officers, directors, subsidiaries, affiliates, employees,
agents, attorneys, representatives, successors and assigns (collectively the “Seller Indemnified Parties”)
from and against, and pay to the applicable Seller Indemnified Parties the amount of any and all losses, liabilities, claims,
obligations, deficiencies, demands, judgments, damages (including incidental and consequential damages), interest, fines, penalties,
claims, suits, actions, causes of action, assessments, awards, costs and expenses (including the costs of investigation and defense
and attorneys’ and other professionals’ fees), whether or not involving a third party claim arising out of or relating
to (individually, a “Loss” and collectively, the “Losses”):

 

(a)       the
failure of any of the representations or warranties made by the Buyer in this Agreement to be true and correct in all respects
at and as of the Effective Date and at the Closing Date;

 

(b)       the
breach of any covenant or other agreement on the part of the Buyer under this Agreement;

 

(c)       any
claims or demands against any Seller Indemnified Party arising out of or resulting to the Assumed Liabilities (as detailed on
Schedule 2.1);

 

(d)       any
claims or demands against any Seller Indemnified Party arising out of or resulting to the Buyer’s ownership, lease, use
or operation of the Firefly Technology after the Closing.

 

ARTICLE
XII.

TERMINATION

 

12.1
Termination. This Agreement may be terminated and the transactions contemplated hereby abandoned at any time prior
to the Closing:

 

		(a)	by
                                         mutual written consent of the Buyer and the Seller;

 

		(b)	by
                                         the Buyer or the Seller if (i) there shall be a final non-appealable order of a federal
                                         or state court in effect preventing consummation of the transactions contemplated hereby;
                                         or (ii) there shall be any statute, rule, regulation or order enacted, promulgated or
                                         issued or deemed applicable to the transactions contemplated by this Agreement by any
                                         governmental entity that would make consummation of the transactions contemplated by
                                         this Agreement illegal;

 

		(c)	by
                                         the Buyer if it is not in material breach of its obligations under this Agreement and
                                         there has been a material breach of any material representation, warranty, covenant or
                                         agreement contained in this Agreement on the part of any Seller and such breach has not
                                         been cured within ten (10) calendar days after written notice to such Seller; or

 

    	-9-

    	 		 

    

 

		(d)	by
                                         the Seller if it is not in material breach of its obligations under this Agreement and
                                         there has been a material breach of any material representation, warranty, covenant or
                                         agreement contained in this Agreement on the part of the Buyer and such breach has not
                                         been cured within ten (10) calendar days after written notice to the Buyer.

 

ARTICLE
XIII.

WAIVERS;
AMENDMENTS; ASSIGNMENT; SUCCESSORS AND ASSIGNS

 

13.1
Effect of Waiver. Any waiver of any term or condition of this Agreement, or of the breach of any covenant, representation
or warranty contained herein, in any one instance, shall not operate as or be deemed to be or construed as a further or continuing
waiver of any other breach of such term, condition, covenant, representation or warranty, nor shall any failure at any time or
times to enforce or require performance of any provision hereof operate as a waiver of or affect in any manner such party’s
right at a later time to enforce or require performance of such provision or of any other provision hereof.

 

13.2
Modification of Agreement. This Agreement may not be amended, nor shall any waiver, change, modification, consent or
discharge be effected, except by an instrument in writing executed by or on behalf of the party against whom enforcement of any
amendment, waiver, change, modification, consent or discharge is sought.

 

13.3
Assignment; Successors and Assigns. Except as otherwise specifically set forth in this Agreement, this Agreement shall
not be assignable by any party without the prior written consent of the other; notwithstanding the foregoing, this Agreement may
be transferred by the Buyer in connection with a merger, consolidation, or the sale of substantially all of its assets. This Agreement
shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and permitted assigns.
This Agreement is not intended and shall not be construed to create any rights in or to be enforceable in any part by persons
other than the parties hereto.

 

ARTICLE
XIV.

MISCELLANEOUS PROVISIONS

 

14.1       Severability.
If any provision of this Agreement shall be held or deemed to be, or shall in fact be, invalid, inoperative or unenforceable
as applied to any particular case in any jurisdiction or jurisdictions, or in all jurisdictions or in all cases, because of the
conflict of any provision with any constitution or statute or rule of public policy or for any other reason, such circumstance
shall not have the effect of rendering the provision or provisions in question invalid, inoperative or unenforceable in any other
jurisdiction or in any other case or circumstance or of rendering any other provision or provisions herein contained invalid,
inoperative or unenforceable to the extent that such other provisions are not themselves actually in conflict with such constitution,
statute or rule of public policy, but this Agreement shall be reformed and construed in any such jurisdiction or case as if such
invalid, inoperative or unenforceable provision had never been contained herein and such provision reformed so that it would be
valid, operative and enforceable to the maximum extent permitted in such jurisdiction or in such case.

 

    	-10-

    	 		 

    

 

14.2
Binding Effect. This Agreement shall inure to the benefit of, and be binding upon, the parties hereto and their respective
successors and assigns; provided, however, that no party shall assign or delegate any of the rights or obligations under this
Agreement (whether by merger, operation of law or otherwise) without the prior written consent of the other party hereto, and
any such purported assignment or delegation without such consent shall be void and of no effect.

 

14.3
       Counterparts. This Agreement may be executed in two or more counterparts,
each of which shall be deemed an original, but all of which together shall constitute one and the same instrument, and in pleading
or proving any provision of this Agreement it shall not be necessary to produce more than one such counterpart. Delivery of an
executed counterpart of this Agreement via facsimile transmission or PDF shall be effective as delivery of a manually executed
counterpart of this Agreement.

 

14.4
Notices. All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed
to have been duly given if sent by facsimile or delivered via certified or registered mail, or recognized courier, delivery confirmation
or return receipt requested:

 

	(a)	If
    to Seller, to:	 	POSITIVEID
    CORPORATION
	 	 	 	1690
    South Congress Avenue, Suite 201
	 	 	 	Delray
    Beach, Florida 33445
	 	 	 	Attention:
    William J. Caragol

 

	(b)	If
    to Buyer, to:	 	EXCITEPCR
    CORPORATION
	 	 	 	1252
    Quarry Lane, Suite A
	 	 	 	Pleasanton,
    CA 94566
	 	 	 	Attention:
    Lyle L. Probst

  

or
to such other person(s) and address(es) as either party shall have specified in writing to the other.

 

14.5
Entire Agreement. The Seller and the Buyer agree that this Agreement and its Exhibits and Schedules and the other contracts
and deeds referenced in and required by this Agreement, constitute the entire agreement among the parties with respect to the
subject matter hereof and supersedes all prior understandings and agreements with respect thereto.

 

14.6
Governing Law and Venue. This Agreement shall be governed by and construed and enforced in accordance with the law
(other than the law governing conflict of law questions) of the State of Florida. Any action to enforce the terms of this Agreement
shall be brought in a court of competent jurisdiction located in Palm Beach County, Florida.

 

    	 	-11-	 

     

    

 

14.7
Captions and Headings. Captions and Section headings used herein are for convenience only and are not a part of this
Agreement and shall not be used in construing it.

 

14.8
Time of the Essence. Time shall be of the essence of this Agreement and of every part hereof.

 

14.9
Expenses. Each of the parties shall pay all costs and expenses incurred or to be incurred by it in negotiating and
preparing this Agreement and in closing and carrying out the transactions contemplated by this Agreement.

 

    	 	-12-	 

     

    

 

IN
WITNESS WHEREOF, the Seller and the Buyer have caused this Agreement to be duly executed as of the date first above written.

 

	 	SELLER:
	 	 	 
	 	POSITIVEID
    CORPORATION
	 	 	 
	 	By:	/s/
    William J. Caragol
	 		William
    J. Caragol, CEO

 

	 	POSITIVEID
    DIAGNOSTICS, INC.
	 	 	 
	 	By:
    	/s/
    Allison Tomek
	 	 	Allison
    Tomek, Secretary

 

	 	BUYER:
	 	 	 
	 	EXCITEPCR
    CORPORATION
	 	 	 
	 	By:	/s/
    Lyle L. Probst
	 	 	Lyle
    L. Probst, CEO

 

    	 	-13-	 

     

    

 

SCHEDULE
1.1(a) - ASSIGNED PATENTS

 

    	 	-14-	 

     

    

 

SCHEDULE
1.1(b) - ASSETS SOLD

  

    	 	-15-	 

     

    

 

SCHEDULE
2.1(a) - ASSUMED LIABILITIES

 

    	 	-16-EX-10.1

 Exhibit 10.1 

SEVENTH AMENDED EXECUTIVE EMPLOYMENT AGREEMENT 

This Seventh Amended Executive Employment Agreement (this “Agreement”) is entered into by and between IXYS Corporation (the
“Company”), a Delaware corporation, and Nathan Zommer (“Executive”), effective as of, and contingent upon, the occurrence of a Change in Control (as defined in the Company’s 2016 Equity Incentive Plan, as
amended from time to time, or any successor thereto) on or before December 31, 2018 (the effective date of such Change in Control, the “Effective Date”). If a Change in Control is not consummated on or before December 31,
2018, this Agreement shall be null and void and the Prior Agreement shall remain in full force and effect. 
 W I T N E S S E T H 

WHEREAS, the Company and Executive are parties to that certain Sixth Amended Executive Employment Agreement, effective as of August 1, 2015 (the
“Prior Agreement”), which is hereby amended and restated in its entirety by this Agreement; 
 WHEREAS, the Company desires to
continue the employment of Executive, and Executive desires to continue to be employed by the Company, in each case, under the terms and conditions herein. 

NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
  

	1.	EMPLOYMENT BY THE COMPANY. 

 1.1 Subject to the provisions for earlier
termination hereinafter provided, Executive’s employment hereunder shall be for a term commencing on the Effective Date and ending on the third anniversary of the Effective Date (the “Initial Employment Period”). Thereafter, if
not previously terminated in accordance herewith, Executive’s employment hereunder shall automatically be extended for successive one-year periods (each, a “Renewal Employment Period”), unless either party elects not to so
renew the term by notifying the other party, in writing, of such election at least 90 days prior to the commencement of any renewal period. The Initial Employment Period and any Renewal Employment Period(s) are collectively referred to as the
“Employment Period”). 
 1.2 During the Employment Period, Executive shall render full-time services to the Company
as its Chief Executive Officer and Chief Technology Officer. Executive shall have such responsibilities, duties and authorities that are customarily associated with such position, and such duties that are assigned by the Company’s Board of
Directors (the “Board”). Executive acknowledges that the Board may delegate to a committee of the Board any matter referred to in this Agreement as being for the Board’s determination. Executive agrees to devote
Executive’s full business time and attention to the business and affairs of the Company during the Employment Period. Notwithstanding the forgoing, during the Employment Period, it shall not be a violation of this Agreement for Executive to:
(i) serve on boards, committees or similar bodies of other companies or organizations, provided that such companies and organizations are not competitors of the Company (as determined by the Board in its sole discretion), or (ii) fulfill
teaching, speaking and writing engagements, in each case, so long as such activities do not individually or in the aggregate materially interfere or conflict with the performance of Executive’s duties and responsibilities under this Agreement.

  
 Page 1 

	2.	COMPENSATION, VACATION AND BENEFITS. 

 2.1 During the Employment Period, the
Company shall pay Executive an annual base salary (the “Base Salary”) in the amount of $525,000, payable every two weeks. The Base Salary may be increased in the Company’s discretion, but not reduced, and the term “Base
Salary” as utilized in this Agreement shall refer to the Base Salary as so increased. 
 2.2 In addition to the Base Salary,
Executive shall be considered for an annual performance bonus on such terms and conditions as the Board shall determine in its sole discretion. Executive’s performance and bonus arrangement will be reviewed by the Board from time to time, as
the Board determines in its sole discretion. 
 2.3 Executive shall be eligible for stock options, restricted stock grants and/or
other equity awards, as determined by the Board in its sole discretion. 
 2.4 During the Employment Period, Executive (and
Executive’s spouse and/or eligible dependents to the extent provided in the applicable plans and programs) shall be eligible to participate in the Company’s retirement, health and welfare benefit plans and programs generally made available
to the Company’s similarly-situated executives from time to time. Details about these benefits are set forth in the employee handbook and summary plan descriptions, copies of which have previously been provided to Executive. Unless the context
otherwise requires, as used in this Agreement, “benefits” does not include any rights to the Company’s equity securities (whether stock options, restricted stock units, stock awards or other equity awards). Nothing contained in this
Section 2.4 shall create or be deemed to create any obligation on the part of the Company to adopt or maintain any health, welfare, retirement or other benefit plan or program at any time or to create any limitation on the Company’s
ability to modify or terminate any such plan or program. 
 2.5 In addition to the benefits provided to Executive pursuant to
subsections 2.1, 2.2, 2.3 and 2.4 hereof, the Company shall: 
 (a) pay directly for or reimburse Executive (as determined by the
Company in its sole discretion) for all reasonable costs of a yearly medical exam of Executive by a physician of his choice, with any such payment or reimbursement made prior to the 15th day of
the third month following the end of the fiscal year with respect to which such amount is payable; 
 (b) maintain term life insurance
(without a buildup of equity) in the amount of $2,000,000 on the life of Executive, payable to such beneficiary or beneficiaries as Executive may designate from time to time; 

(c) pay directly for or reimburse Executive (as determined by the Company in its sole discretion) for the services of a personal tax
and/or investment advisor, not to exceed $2,000 per year, with any such payment or reimbursement made prior to the 15th day of the third month following the end of the fiscal year with respect to
which such amount is payable; 
 (d) either (as determined by the Company in its sole discretion) (i) provide Executive with a
car of such make and model as Executive and the Board shall agree is commensurate with Executive’s position with the Company and reimburse Executive in accordance with the Company’s applicable policies and procedures for the actual costs
incurred by Executive in connection with the use of such car for business purposes (including gas, insurance for such car and reasonable maintenance thereof) or (ii) pay Executive a monthly allowance for a car on an economic basis comparable to
the benefits described in the foregoing clause (i) (as determined by the Board in its discretion); 

  
 Page 2 

 
provided, however, that Executive shall at all times (x) comply with all policies of the Company from time to time in effect with respect to the maintenance and operation of
motor vehicles, and (y) maintain a valid driver’s license. In the event the Company provides Employee with a car in accordance with the forgoing clause (i), the Company may, in its sole discretion, allow Employee to retain such car
following a termination of Employee’s employment; and 
 (e) except as otherwise set forth in applicable Company policies,
programs or practices, Executive shall be entitled to accrue and use 20 days of paid vacation per calendar year (pro-rated for any partial year of service), subject to any accrual limits set forth in the policies, programs and practices of the
Company applicable to its similarly-situated employees generally; provided, however, that if there are no such accrual limits in the Company’s applicable policies, programs and practices, then Executive will not accrue any
vacation time in excess of 20 days per year and will cease accruing vacation time if Executive’s accrued vacation reaches 20 days until such time as Executive’s accrued vacation drops below such limit. 

 

	3.	EMPLOYEE HANDBOOK. By signing this Agreement, Executive acknowledges that Executive has received and read the Company’s employee handbook. Executive agrees to abide by all company policies and procedures.
Notwithstanding the foregoing, if there shall be any conflict between this Agreement and such employee handbook, the terms of this Agreement shall govern. 

  

	4.	TERMINATION OF EMPLOYMENT. 

 4.1 Executive’s employment shall
terminate automatically upon Executive’s death during the Employment Period. 
 4.2 The Company may terminate Executive’s
employment during the Employment Period for Cause or without Cause. For purposes of this Agreement, “Cause” shall mean: 
  

	 	(i)	Executive’s unauthorized use or disclosure of the Company’s confidential information or trade secrets, which use or disclosure causes material harm to the Company; 

 

	 	(ii)	Executive’s commission of an act of material dishonesty in connection with Executive’s responsibilities as an employee of the Company; 

 

	 	(iii)	Executive’s repeated failure, in the reasonably judgement of the Board, to substantially perform Executive’s duties or responsibilities as an employee as directed or assigned by the Board (other than a failure
resulting from Executive’s Disability) after written notice thereof to Executive from the Company describing in reasonable detail the factual basis of Executive’s failure to perform such duties or responsibilities and Executive having had
the opportunity to address the Board regarding such alleged failures and Executive’s failure to remedy said non-performance to the Company’s satisfaction within 60 days of receiving written notice; 

 

	 	(iv)	Executive’s commission of, or plea of “guilty” or “no contest” to, a felony under the laws of the United States or any State; 

 

	 	(v)	Executive’s engagement in gross misconduct and such misconduct is materially harmful to the Company; 

  

	 	(vi)	Executive’s failure to comply with the terms of any written Company policy or rule as they may be in effect from time to time during the Employment Period if such failure is materially harmful to the Company;

  
 Page 3 

	 	(vii)	Executive’s failure to cooperate in good faith with a governmental or internal investigation of the Company or its directors, officers or employees, if the Company has requested cooperation; or 

 

	 	(viii)	Executive’s breach of this Agreement, the confidentiality and nondisclosure agreement between Executive and the Company or any other agreements with the Company including, but not limited to, agreements regarding
confidentiality or proprietary information, if such breach is materially harmful to the Company. For the avoidance of doubt, Executive’s Disability shall not constitute “Cause.” Failure to accomplish corporate financial and management
goals shall not constitute “cause”. 

 4.3 Executive’s employment may be terminated by Executive for any
reason, including with Good Reason or by Executive without Good Reason. For purposes of this Agreement, “Good Reason” shall mean the occurrence of any one or more of the following events without the Executive’s prior written
consent, unless the Company fully corrects the circumstances constituting Good Reason (provided such circumstances are capable of correction) as provided below: 
  

	 	(i)	a reduction of Executive’s Base Salary by more than five percent; 

  

	 	(ii)	the failure by the Company to pay or provide Executive when due any compensation, benefits or perquisites to which the Executive is entitled pursuant to this Agreement or any other plan, contract or arrangement in which
the Executive participates or is entitled to participate; 

  

	 	(iii)	a diminution in Executive’s responsibilities, authority or title, excluding for this purpose an isolated, insubstantial and inadvertent action not taken in bad faith (it being understood that the fact that the
Company is no longer a public company or an ultimate parent entity shall not be a basis for diminution); 

  

	 	(iv)	the relocation of Executive’s worksite to a location that is more than 25 miles from his prior worksite; 

  

	 	(v)	the failure or refusal of a successor company to assume the Company’s obligations under this Agreement; or 

  

	 	(vi)	a material breach by the Company or any successor company of any of the material provisions of this Agreement 

Notwithstanding the foregoing, Executive will not be deemed to have resigned for Good Reason unless (1) Executive provides
the Company with written notice setting forth in reasonable detail the facts and circumstances claimed by Executive to constitute Good Reason within 60 days after the date of the occurrence of any event that Executive knows or should reasonably have
known to constitute Good Reason, (2) the Company fails to cure such acts or omissions within 30 days following its receipt of such notice, and (3) the effective date of Executive’s termination for Good Reason occurs no later than 60
days after the expiration of the Company’s cure period. 
 4.4 Upon the termination of Executive’s employment for any
reason, Executive agrees to return to the Company all documents of the Company and its affiliates (and all copies thereof) and all other Company or Company affiliate property that Executive has in Executive’s

  
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possession, custody or control, including (i) any materials that contain or embody proprietary or confidential information of the Company or an affiliate thereof, (ii) computers and
other electronic devices, cellular phones/smartphones, credit cards, entry cards, identification badges and keys, and (iii) any correspondence, manuals, notes, reports, plans, proposals, financial documents, and other documents concerning the
customers, business plans, marketing strategies, products and/or processes of the Company or any of its affiliates; provided, however, that Executive may, as determined by the Board in its sole discretion, retain certain materials or
property on the condition that Executive removes all confidential and proprietary information from such materials or property. 
  

	5.	OBLIGATIONS OF THE COMPANY UPON TERMINATION. 

 5.1 Upon a termination of
Executive’s employment for any reason, Executive shall be paid, in a single lump-sum payment within 30 days following the date of Executive’s termination of employment (or such earlier date as may be required by applicable law), the
aggregate amount of Executive’s earned but unpaid Base Salary, accrued but unpaid vacation pay through the date of such termination, and unreimbursed business expenses incurred prior to the date of termination that are reimbursable in
accordance with Section 2.5 above. 
 5.2 QUALIFYING TERMINATION OF EMPLOYMENT. In the event that, during the Employment Period,
(i) the Company terminates Executive’s employment without Cause, but not for reasons of Disability or death, (ii) Executive resigns for Good Reason, or (iii) Executive’s employment terminates due to a non-renewal of the
Employment Period by the Company (provided that Executive is willing and able to at such time to continue in employment with the Company in terms and conditions substantially similar to those set forth herein) (any of (i), (ii) or (iii), a
“Qualifying Termination”), then upon Executive’s Separation from Service (as defined below) (such date, the “Separation Date”), Executive shall receive as severance the following payments and benefits: 

(a) The Company shall pay to Executive a lump-sum amount equal to three times Executive’s average total annual cash compensation,
including Base Salary and annual bonuses (if any), over the three years immediately preceding the Separation Date, payable within 60 days following the Separation Date; provided, however, that if any period during which Executive is entitled
to consider and revoke the Release spans two calendar years, such amount shall be paid to Executive in the second (2nd) such calendar year. 

(b) Executive shall continue to receive all employment benefits as defined in Sections 2.4 and 2.5 above (excluding 2.5(e)), or
their cash equivalent where benefit plan participation by Executive is not available or where providing such benefits would violate applicable law and/or impose penalties on the Company, for 18 months following the Separation Date. 

(c) The vesting of all shares of Company stock underlying or subject to stock options, restricted stock awards, stock appreciation
rights or other equity awards, in each case, granted to Executive by the Company, shall be accelerated effective as of the date on which the Release becomes effective and irrevocable (and, notwithstanding anything to the contrary in the applicable
Company equity plan or award agreement, shall remain outstanding and eligible to vest in accordance with this Section 5.2(c) following the Separation Date upon the effectiveness of the Release and shall be forfeited on the 60th day following the Separation Date if such awards do not become vested on or prior to such date). 

  
 Page 5 

 Notwithstanding the forgoing, the Company’s obligation to make any payment or provide any
benefit under this Section 5.2 is conditioned upon the execution and delivery by Executive of a general release of claims in favor of the Company in the form attached hereto as Exhibit A (the “Release”) that becomes
effective within 60 days after the Separation Date. 
 5.3 TERMINATION DUE TO DISABILITY. In the event Executive suffers and continues
to suffer a disability that renders him unable to perform the essential functions of his position for three months within any six-month period (a “Disability”), the Company shall, for 18 months commencing at the conclusion of such
three-month period, (i) continue to pay Executive his Base Salary in accordance with the Company’s regular payroll practices, (ii) continue to provide Executive’s health insurance at the same level as in effect on the conclusion
of such three-month period (or its cash equivalent where providing such benefits would violate applicable law and/or impose penalties on the Company) and (ii) maintain life insurance in the manner and in the amount set forth in
Section 2.5(b) hereof. If upon the conclusion of the 18-month period, Executive remains unable to perform the essential functions of the job, or the Company has no suitable vacant position for him, Executive’s employment shall be
automatically terminated. 
 5.4 NON-QUALIFYING TERMINATION OF EMPLOYMENT. In the event Executive’s employment is terminated
other than due to a Qualifying Termination, all of Executive’s compensation and benefits will cease immediately, and Executive shall not be entitled to any severance or other benefits (other than the amounts described in Section 5.1 above)
and all other benefits provided hereunder shall cease as of such termination. 
 5.5 LIMITATION ON COMPENSATION. Except as expressly
provided in Section 2, Section 5 or Section 6, Executive will not be entitled to any other compensation, severance, pay-in-lieu of notice or any such compensation. 

 

	6.	CHANGE IN CONTROL. Effective immediately prior to the occurrence of a Change in Control, the vesting of all shares of Company stock underlying or subject to stock options, restricted stock awards, stock
appreciation rights or other equity awards, in each case, granted to Executive by the Company, shall be accelerated. 

  

	7.	NOTICES. All notices, requests, consents and other communications required or permitted to be given hereunder shall be in writing and shall be deemed to have been duly given if personally delivered or delivered
by registered or certified mail (return receipt requested), or private overnight mail (delivery confirmed by such service, to the address listed below, or to such other address as either party shall designate by notice in writing to the other in
accordance herein): 

 If to the Company: 

IXYS Corporation 

1590 Buckeye Drive 

Milpitas, CA 95035 

Attention: Chairman of the Compensation Committee of the Board of Directors 

If to Executive: at Executive’s most recent address on the records of the Company. 

 

	8.	ARBITRATION. To ensure rapid and economical resolution of any and all disputes which may arise under this Agreement, the Company and Executive each agree that any and all disputes or controversies, whether of law
or fact of any nature whatsoever (including, but not limited to, all state and federal statutory and discrimination claims), arising from or regarding the interpretation, performance, enforcement or breach of this Agreement shall be resolved by
final and binding arbitration under the procedures set forth in Exhibit B to this Agreement, which exhibit is incorporated herein by reference, and the then existing Judicial Arbitration and Mediation Services (JAMS) Rules of Practice
and Procedure (except insofar as they are inconsistent with the procedures set forth in Exhibit B). 

  
 Page 6 

	9.	CERTAIN REDUCTIONS IN PAYMENTS OR BENEFITS. Executive and the Company hereby agree as follows: 

9.1 Anything in this Agreement to the contrary notwithstanding, in the event that any payment, distribution or other benefit provided by
the Company to or for the benefit of Executive (whether paid or payable or provided or to be provided pursuant to the terms of this Agreement or otherwise) (“Payments”) would (i) constitute a “parachute payment”
within the meaning of Section 280G of the Internal Revenue Code (the “Code”), and (ii) but for this Section 9, be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”),
then, in accordance with this Section 9, such Payments shall be reduced to the maximum amount that would result in no portion of the payments being subject to the Excise Tax, but only if and to the extent that such a reduction would result in
Executive’s receipt of Payments that are greater than the net amount Executive would receive (after application of the Excise Tax) if no reduction is made. The amount of required reduction, if any, shall be the smallest amount so that
Executive’s net proceeds with respect to the Payments (after taking into account payment of any Excise Tax and all federal, state and local income, employment or other taxes) shall be maximized. If, notwithstanding any reduction described in
this Section 9 (or in the absence of any such reduction), the Internal Revenue Service determines that a Payment is subject to the Excise Tax (or subject to a different amount of the Excise Tax than determined by the Company or Executive), then
Section 9.3 shall apply. If the Excise Tax is not eliminated pursuant to this Section 9, Executive shall pay the Excise Tax. 

9.2 All determinations required to be made under this Section 9 shall be made by the Company’s independent auditors. Such
auditors shall provide detailed supporting calculations both to the Company and Executive. Any such determination by the Company’s independent auditors shall be binding upon the Company and Executive. The Payments, including, without
limitation, any equity award acceleration benefits provided under this Agreement or otherwise (“Equity Award Benefits”), shall be eliminated or reduced consistent with the requirements of this Section 9, first by eliminating or
reducing cash payments and then by eliminating or reducing the number of Company shares, options or other equity awards that vest. Within five business days following a determination pursuant to this Section 9.2, the Company shall pay to or
distribute to or for the benefit of Executive such amounts as are then due to Executive under this Agreement. 
 9.3 As a result of
the uncertainty in the application of Section 280G of the Code at the time of the initial determination by the Company’s independent auditors hereunder, it is possible that Equity Award Benefits or other Payments, as the case may be, will
have been made by the Company which should not have been made (“Overpayment”) or that additional Equity Award Benefits or other Payments, as the case may be, which will not have been made by the Company could have been made
(“Underpayment”), in each case, consistent with the calculations required to be made hereunder. In the event that the Company’s independent auditors, based upon the assertion of a deficiency by the Internal Revenue Service
against Executive or the Company which the Company’s independent auditors believe has a high probability of success, determine that an Overpayment has been made, any such Overpayment paid or distributed by the Company to or for the benefit of
Executive shall be repaid to the Company; provided, that no amount shall be payable by Executive to the Company if and to the extent such payment would not either reduce the amount on which Executive is subject to tax under Section 280G
and Section 4999 of the Code or generate a refund of such taxes. In the event that the Company’s independent auditors, based upon controlling precedent or other substantial authority, determine that an Underpayment has occurred, any such
Underpayment shall be promptly paid by the Company to or for the benefit of Executive. 

  
 Page 7 

	10.	OTHER TAX MATTERS. Notwithstanding the other provisions of this Agreement, to the extent that any amounts payable to Executive pursuant to this Agreement would not be deductible by the Company for federal income
tax purposes on account of the limitations of Section 162(m) of the Code, the Company may defer payment of such amounts to the earliest subsequent calendar year in which the Company reasonably anticipates that payment of such amounts would be
deductible by the Company in accordance with Section 409A and Section 1.409A-2(b)(7)(i) of the regulations thereunder. 

  

	11.	GENERAL. 

 11.1 ENTIRE AGREEMENT. This Agreement sets forth the complete, final
and exclusive embodiment of the entire agreement between Executive and the Company with respect to the subject matter hereof. This Agreement is entered into without reliance upon any promise, warranty or representation, written or oral, other than
those expressly contained herein, and it supersedes any other such promises, warranties, representations or agreements, including, without limitation, the Prior Agreement. Executive hereby agrees that as of the Effective Date, the Prior Agreement is
hereby terminated and shall be of no further force or effect. 
 11.2 SEVERABILITY. If any provision of this Agreement shall be held
by a court of competent jurisdiction to be excessively broad as to duration, activity or subject, it shall be deemed to extend only over the maximum duration, activity and/or subject as to which such provision shall be valid and enforceable under
applicable law. If any provisions shall, for any reason, be held by a court of competent jurisdiction to be invalid, illegal or unenforceable, such invalidity, illegality or unenforceability shall not affect any other provision of this agreement,
but this agreement shall be construed as if such invalid, illegal or unenforceable provision had never been contained herein. 
 11.3
SUCCESSORS AND ASSIGNS. This Agreement shall bind the heirs, personal representatives, assigns, executors and administrators of each party, and inure to the benefit of each party, its heirs, successors and assigns. However, because of the unique
and personal nature of Executive’s duties under this Agreement, Executive agrees not to delegate the performance of Executive’s duties under this Agreement without the prior consent of the Company. 

11.4 APPLICABLE LAW; CLAWBACKS. This Agreement shall be deemed to have been entered into and shall be construed in accordance with the
laws of the state of California as applied to contracts made and to be performed entirely within California. Executive agrees and acknowledges that any compensation paid to Executive by the Company, whether heretofore or hereafter, is subject to
clawback by the Company under any rule adopted, from time to time, by the U.S. Securities and Exchange Commission or any stock exchange on which the Company’s stock is traded. 

11.5 HEADINGS. The section headings contained herein are for reference purposes only and shall not in any way affect the meaning or
interpretation of this Agreement. 
 11.6 COUNTERPARTS. This Agreement may be executed in two counterparts, each of which shall be
deemed an original, all of which together shall constitute one and the same instrument. 
 11.7 SECTION 409A OF THE CODE.  

(a) To the extent applicable, this Agreement shall be interpreted in accordance with Section 409A of the Code and Department of
Treasury regulations and other interpretive guidance issued thereunder (together, “Section 409A”). Notwithstanding any provision of this Agreement to the contrary, if the Company determines that any compensation or benefits payable
under this Agreement may be subject to Section 409A, the Company 

  
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shall work in good faith with Executive to adopt such amendments to this Agreement or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect),
or take any other actions, that the Company determines are necessary or appropriate to avoid the imposition of taxes under Section 409A, including without limitation, actions intended to (i) exempt the compensation and benefits payable
under this Agreement from Section 409A, and/or (ii) comply with the requirements of Section 409A; provided, however, that this Section 11.7 shall not create an obligation on the part of the Company to adopt any such
amendment, policy or procedure or take any such other action, nor shall the Company have any liability for failing to do so. 
 (b)
Notwithstanding anything to the contrary in this Agreement, no compensation or benefits, including without limitation any severance payments or benefits payable under Section 5.2 hereof, shall be paid to Executive during the six (6)-month
period following Executive’s “separation from service” from the Company (within the meaning of Section 409A, a “Separation from Service”) if the Company determines that paying such amounts at the time or times
indicated in this Agreement would be a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code. If the payment of any such amounts is delayed as a result of the previous sentence, then on the first day of the seventh month following
the date of Separation from Service (or such earlier date upon which such amount can be paid under Section 409A without resulting in a prohibited distribution, including as a result of Executive’s death), the Company shall pay Executive a
lump-sum amount equal to the cumulative amount that would have otherwise been payable to Executive during such period. 
 (c) Any
right to a series of installment payments pursuant to this Agreement is to be treated as a right to a series of separate payments. To the extent permitted under Section 409A, any separate payment or benefit under this Agreement or otherwise
shall not be deemed “nonqualified deferred compensation” subject to Section 409A and Section 11.7(d) hereof to the extent provided in the exceptions in Treasury Regulation Section 1.409A-1(b)(4), Section 1.409A-1(b)(9)
or any other applicable exception or provision of Section 409A. 
 (d) To the extent that any payments or reimbursements provided
to Executive under this Agreement are deemed to constitute compensation to Executive to which Treasury Regulation Section 1.409A-3(i)(1)(iv) would apply, such amounts shall be paid or reimbursed reasonably promptly, but not later than
December 31 of the year following the year in which the expense was incurred. The amount of any such payments eligible for reimbursement in one year shall not affect the payments or expenses that are eligible for payment or reimbursement in any
other taxable year, and Executive’s right to such payments or reimbursement of any such expenses shall not be subject to liquidation or exchange for any other benefit. 

11.8 WITHHOLDING. The Company may withhold from any amounts payable under this Agreement such federal, state, local or foreign taxes as
shall be required to be withheld pursuant to any applicable law or regulation. 
 11.9 AMENDMENT. No amendment or other modification
of this Agreement shall be effective unless made in writing and signed by the parties hereto. 
 [Signatures Appear on Following
Page] 

  
 Page 9 

 IN WITNESS WHEREOF, the parties have duly authorized and caused this Seventh Amended Executive Employment
Agreement to be executed as follows: 
  

									
	 Nathan Zommer,
 An
individual
	 		 	 IXYS Corporation,
 a
Delaware Corporation

				
	/s/ Nathan Zommer	 	  
	 	By:	 	/s/ James R. Jones
		 		 		 		 	James R. Jones, Vice President
					
	Date:	 	 8/25/2017
	 		 	Date:	 	 8/25/2017

  
 [Signature Page to
Employment Agreement] 

 EXHIBIT A 

GENERAL RELEASE OF CLAIMS 
 This General
Release of Claims (this “Release”) is entered into by and between Nathan Zommer (hereinafter “Executive”) and IXYS Corporation, a Delaware corporation (hereinafter the “Company”), in accordance with
the severance provisions set forth in Section 5.2 of that certain Seventh Amended Executive Employment Agreement, dated on or around August 25, 2017, entered into by and between Executive and the Company (the “Employment
Agreement”). 
 1. Separation of Employment. Effective
                            , Executive shall no longer be employed by the Company in any capacity.

 2. Separation Pay. In accordance with the Employment Agreement, the Company shall pay to Executive the severance payments and
benefits as provided in Section 5.2 of the Employment Agreement. 
 3. No Admission of Liability. This Release does not
constitute an admission of any kind by the Company. 
 4. Release of Known and Unknown Claims By Executive. In exchange for the
payments and agreements contained in Section 5.2 of the Employment Agreement, Executive agrees to unconditionally and forever release and discharge the Company and the Company’s affiliated, related, parent and subsidiary corporations, as
well as the Company’s and any affiliated, related, parent and subsidiary corporation’s respective attorneys, agents, representatives, partners, joint venturers, successors, assigns, insurers, owners, employees, officers, and directors
(hereinafter the “Releasees”) from any and all claims, actions, causes of action, demands, rights, or damages of any kind or nature (hereinafter called “Claims”) which he may now have, or ever have, whether known or
unknown, of any nature arising out of or in any way relating to his employment with, or separation from the Company on or before the date of the execution of this Release; any alleged breach of any express or implied contract of employment; any
alleged torts or other alleged legal restrictions on Releasees’ right to terminate the employment of Executive; and any alleged violation of any federal, state or local statute or ordinance including, without limitation, Title VII of the Civil
Rights Act of 1964, the Age Discrimination In Employment Act, the Americans With Disabilities Act, the California Fair Employment and Housing Act, the California Equal Pay Law, the Moore-Brown-Roberti Family Rights Act of 1991, the California Labor
Code, the California WARN Act, the California False Claims Act and the California Corporate Criminal Liability Act. Notwithstanding the foregoing, this Release shall not operate to release any rights or claims of Executive (i) to payments or
benefits under Section 5.2 of the Employment Agreement, (ii) to accrued or vested benefits Executive may have, if any, as of the date hereof under any applicable plan, policy, practice, program, contract or agreement with the Company,
(iii) to any Claims, including claims for indemnification and/or advancement of expenses arising under any indemnification agreement between Executive and the Company or under the bylaws, certificate of incorporation or other similar governing
document of the Company, or (iv) to any Claims which cannot be waived by an employee under applicable law. 
 5. Release of Unknown
Claims By Executive. Executive further agrees to knowingly to waive the provisions and protections of Section 1542 of the California Civil Code, which reads: 

A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING
THE RELEASE, WHICH, IF KNOWN BY HIM OR HER, MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR. 

  
 Exhibit A 

 This release of claims shall be construed as broadly as possible under applicable law but shall
not include any claim for indemnification under California Labor Code Section 2802 or California Corporations Code Section 317 or any other claim the release of which would violate California or federal statutory law or the public policy
of the State of California. 
 6. Knowing and Voluntary. Executive represents and agrees that he is entering into this Release
knowingly and voluntarily. Executive affirms that no promise or inducement was made to cause him to enter into this Release, other than the severance benefits promised to Executive herein. Executive further confirms that he has not relied upon any
other statement or representation by anyone other than what is in this Release as a basis for his agreement. 
 7. Execution of
Release. Executive expressly acknowledges that he has been provided with at least [21]1 days to consider this Release form the Company and that he was informed that he had the right to consult
with counsel regarding this Release, and that he has had the opportunity to consult with counsel. To the extent that Executive has taken fewer than [21] days to consider this Release, Executive acknowledges that he had sufficient time to consider
this Release and to consult with counsel and that he does not desire additional time. Executive waives the restarting of the [21]-day period in the event of any modification of this Release, whether or not material. 

8. Revocation. This Release is revocable by Executive for a period of seven calendar days following his execution of this Release. The
revocation must be in writing, must specifically revoke this Release, and must be received by the Company prior to the eighth calendar day following the execution of this Release. This Release becomes effective, enforceable and irrevocable on the
eighth calendar day following Executive’s execution of this Release. 
 9. Release of Known and Unknown Claims by the Company.
In exchange for the agreements contained in the Employment Agreement, the Company agrees to unconditionally and forever to release and discharge Executive, as well as his attorneys, agents, assigns and representatives from any and all claims,
actions, causes of action, demands, rights, or damages of any kind or nature which it may now have, or ever have, whether known or unknown, of any nature arising out of or in any way relating to Executive’s employment with, or separation from,
the Company on or before the date of the execution of this Release. The Company further agrees knowingly to waive the provisions and protections of Section 1542 of the California Civil Code, which reads: 

A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE
RELEASE, WHICH, IF KNOWN, MUST HAVE MATERIALLY AFFECTED THE SETTLEMENT WITH THE DEBTOR. 
 10. No Actions. Executive irrevocably
agrees to refrain from directly or indirectly asserting any claim or demand or commencing (or causing to be commenced) any suit, action, or proceeding of any kind, in any court or before any tribunal, against any Released Party based upon any Claim.
Executive agrees that if Executive hereafter commences any suit arising out of, 
  

	1 	 NTD: To be increased to 45 days in certain circumstances.

  
 Exhibit A 

 
based upon, or relating to any of the Claims released hereunder or in any manner assert against the Releasees any of the Claims released hereunder, then Executive will pay to the Releasees, in
addition to any other damages caused to the Releasees thereby, all attorneys’ fees incurred by the Releasees in defending or otherwise responding to said suit or Claim. Executive further understands and agrees that neither the payment of any
sum of money nor the execution of this Release shall constitute or be construed as an admission of any liability whatsoever by the Releasees, who have consistently taken the position that they have no liability whatsoever to Executive. 

11. Representations and Warranties; Indemnification. Executive represents and warrants that there has been no assignment or other
transfer of any interest in any Claim which Executive may have against the Releasees, and Executive agrees to indemnify and hold the Releasees harmless from any liability, Claims, demands, damages, costs, expenses and attorneys’ fees incurred
by Releasees as the result of any such assignment or transfer or any rights or Claims under any such assignment or transfer. It is the intention of the parties that this indemnity does not require payment as a condition precedent to recovery by
the Releasees against Executive under this indemnity. 
 12. Governing Law. This Release shall be construed under the laws of the
State of California, both procedural and substantive. 
 13. Arbitration. Any dispute or controversy arising out of or relating to
any interpretation, construction, performance, termination or breach of this Release, will be settled by final and binding arbitration under the procedures set forth in Exhibit B to the Employment Agreement, which exhibit is incorporated
herein by reference (except that references to the Employment Agreement therein shall instead be deemed to refer to this Release), and the then existing Judicial Arbitration and Mediation Services (JAMS) Rules of Practice and Procedure (except
insofar as they are inconsistent with the procedures set forth in Exhibit B). 
 14. Confidentiality. Executive agrees
not to disclose the existence of this Release or any of its terms to anyone other than his attorneys, accountants and immediate family members, or where compelled by an order of a court of competent jurisdiction or a subpoena issued under the
authority thereof. Executive further agrees to keep this Release and all of its terms strictly confidential and agrees that he will inform any such attorneys, accountants and immediate family members about this confidentiality provision. 

15. Waiver. The failure to enforce any provision of this Release shall not be construed to be a waiver of such provision or to affect
the validity of this Release or the right of any party to enforce this Release. 
 16. Modification. No amendments to this Release
will be valid unless written and signed by Executive and an authorized representative of the Company. 
 17. Severability. If any
sentence, phrase, paragraph, subparagraph or portion of this Release is found to be illegal or unenforceable, such action shall not affect the validity or enforceability of the remaining sentences, phrases, paragraphs, subparagraphs or portions of
this Release. 
 18. Ambiguities. Both parties have participated in the negotiation of this Release and, thus, it is understood and
agreed that the general rule that ambiguities are to be construed against the drafter shall not apply to this Release. In the event that any language of this Release is found to be ambiguous, each party shall have an opportunity to present evidence
as to the actual intent of the parties with respect to any such ambiguous language. 

  
 Exhibit A 

 19. Entire Agreement/Integration. This Release and any confidentiality, proprietary
information, or inventions agreements signed by Executive during his employment with the Company (all of which survive the termination of the employment relationship) constitute the entire agreement between Executive and the Company concerning the
terms of Executive’s employment with and separation from the Company and the compensation related thereto. All prior discussions and negotiations have been and are merged and integrated into, and are superseded by, this Release. 

[Signature page follows] 

  
 Exhibit A 

 PLEASE READ CAREFULLY. THIS RELEASE CONTAINS A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS. THE UNDERSIGNED AGREE
TO THE TERMS OF THIS RELEASE AND VOLUNTARILY ENTER INTO IT WITH THE INTENT TO BE BOUND THEREBY. 
  

									
		 		 		  	EXECUTIVE
				
	Dated:	 	  
	 		  	  

		 		 		  	NATHAN ZOMMER
					
		 		 		  	Address:	 	  

					
		 		 		  		 	  

				
		 		 		  	IXYS CORPORATION
				
	Dated:	 	  
	 	            By:	  	  

		 		 		  	OFFICER OF THE COMPANY

  
 Exhibit A 

 Exhibit B 

ARBITRATION PROCEDURE 
 1. The
parties agree that any dispute that arises in connection with this Agreement or the termination of this Agreement shall be resolved by binding arbitration in the manner described below. 

2. A party intending to seek resolution of any dispute under the Agreement by arbitration shall provide a written demand for arbitration to the other
party, which demand shall contain a brief statement of the issues to be resolved. 
 3. The arbitration shall be conducted by a mutually acceptable
retired judge from the panel of Judicial Arbitration and Mediation Services, Inc. (“JAMS”). At the request of either party, arbitration proceedings will be conducted in the utmost secrecy and, in such case, all documents, testimony
and records shall be received, heard and maintained by the arbitrator in secrecy under seal, available for inspection only by the parties to the arbitration, their respective attorneys, and their respective expert consultants or witnesses who shall
agree, in advance and in writing, to receive all such information confidentially and to maintain such information in secrecy, and make no use of such information except for the purposes of arbitration, unless compelled by legal process. 

4. The arbitrator is required to disclose any circumstances that might preclude the arbitrator from rendering an objective and impartial determination.
In the event the parties cannot mutually agree upon the selection of a JAMS arbitrator, the President and vice president of JAMS shall designate the arbitrator. 

5. The party demanding arbitration shall promptly request that JAMS conduct a scheduling conference within 15 days of the date of that party’s
written demand for arbitration or on the first available date thereafter on the arbitrator’s calendar. The arbitration hearing shall be held within 30 available date thereafter on the arbitrator’s calendar. Nothing in this paragraph shall
prevent a party from seeking temporary equitable relief at any time, from JAMS or any court of competent jurisdiction, to prevent irreparable harm pending the resolution of the arbitration. 

6. Discovery shall be conducted as follows: (a) prior to the arbitration any party may make a written demands for lists of the witnesses to be
called and the documents to be introduced at the hearing; (b) the lists must be served within 15 days of the date of receipt of the demand, or one day prior to the arbitration, whichever is earlier; and (c) each party may take no more than
two depositions (pursuant to the procedure set forth in the California Code of Civil Procedure) with a maximum of five hours of examination time per deposition, and no other form of pre-arbitration discovery shall be permitted. 

7. It is the intent of the parties that the Federal Arbitration Act (“FAA”) shall apply to the enforcement of this provision unless it
is held inapplicable by a court with jurisdiction over the dispute, in which event the California Arbitration Act (“CAA”) shall apply. 

8. The arbitrator shall apply California law, including the California Evidence Code, and shall be able to decree any and all relief of an equitable
nature, including, but not limited to, such relief as a temporary restraining order, a preliminary injunction, a permanent injunction, or replevin of Company property. The arbitrator shall also be able to award actual, general or consequential
damages, but shall not award any other form of damage (e.g., punitive damages). 
 9. Each party shall pay its pro rata share of the
arbitrator’s fees and expenses, in addition to other expenses of the arbitration approved by the arbitrator, pending the resolution of the arbitration. The arbitrator shall have authority to award the payment of such fees and expenses to the
prevailing party, as appropriate in the discretion of the arbitrator. Notwithstanding the foregoing, in no event shall the cost to Executive exceed the cost in a court of law or equity. Each party shall pay its own attorneys’ fees, witness fees
and other expenses incurred for its own benefit. 

  
 Exhibit B 

 10. The arbitrator shall render a written award setting forth the reasons for his or her decision. The
decree or judgment of an award by the arbitrator may be entered and enforced in any court having jurisdiction over the parties. The award of the arbitrator shall be final and binding upon the parties without appeal or review except as permitted by
the FAA, or if the FAA is not applicable, as permitted by the CAA. 

  
 Exhibit B

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