Document:

EX-10.7

 Exhibit 10.7 

EASIC CORPORATION 

2015 EMPLOYEE STOCK PURCHASE PLAN 

ADOPTED BY THE BOARD OF DIRECTORS:
FEBRUARY 18, 2015 
 APPROVED BY THE STOCKHOLDERS:
[            ], 2015 
 IPO DATE/EFFECTIVE
DATE: [            ], 2015 
  

	1.	GENERAL; PURPOSE. 

 (a) The Plan provides a means by
which Eligible Employees of the Company and certain Designated Companies may be given an opportunity to purchase shares of Common Stock. The Plan permits the Company to grant a series of Purchase Rights to Eligible Employees under an Employee Stock
Purchase Plan. 
 (b) The Company, by means of the Plan, seeks to retain the services of such Employees, to secure and retain the
services of new Employees and to provide incentives for such persons to exert maximum efforts for the success of the Company and its Related Corporations. 

(c) The Plan includes two components: a 423 Component and a Non-423 Component. The Company intends (but makes no undertaking or
representation to maintain) the 423 Component to qualify as an Employee Stock Purchase Plan. The provisions of the 423 Component, accordingly, will be construed in a manner that is consistent with the requirements of Section 423 of the Code. In
addition, this Plan authorizes grants of Purchase Rights under the Non-423 Component that do not meet the requirements of an Employee Stock Purchase Plan. Except as otherwise provided in the Plan or determined by the Board, the Non-423 Component
will operate and be administered in the same manner as the 423 Component. In addition, under the 423 Component, the Company may make separate Offerings which vary in terms (provided that such terms are not inconsistent with the provisions of the
Plan or the requirements of an Employee Stock Purchase Plan), and the Company will designate which Designated Company is participating in each separate Offering. 
  

	2.	ADMINISTRATION. 

 (a) The Board will administer the Plan unless and
until the Board delegates administration of the Plan to a Committee or Committees, as provided in Section 2(c). 
 (b) The
Board will have the power, subject to, and within the limitations of, the express provisions of the Plan: 
 (i) To determine how and
when Purchase Rights will be granted and the provisions of each Offering (which need not be identical). 
 (ii) To designate from
time to time which Related Corporations of the Company will be eligible to participate in the Plan as Designated 423 Corporations or as Designated Non-423 Corporations, which Affiliates may be excluded from participation in the Plan, and which
Designated 

  
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Companies will participate in each separate Offering (to the extent that the Company makes separate Offerings). 

(iii) To construe and interpret the Plan and Purchase Rights, and to establish, amend and revoke rules and regulations for its
administration. The Board, in the exercise of this power, may correct any defect, omission or inconsistency in the Plan, in a manner and to the extent it deems necessary or expedient to make the Plan fully effective. 

(iv) To settle all controversies regarding the Plan and Purchase Rights granted under the Plan. 

(v) To suspend or terminate the Plan at any time as provided in Section 12. 

(vi) To amend the Plan at any time as provided in Section 12. 

(vii) Generally, to exercise such powers and to perform such acts as it deems necessary or expedient to promote the best interests of
the Company, its Related Corporations and Affiliates and to carry out the intent that the 423 Component be treated as an Employee Stock Purchase Plan. 

(viii) To adopt such procedures and sub-plans as are necessary or appropriate to permit or facilitate participation in the Plan by
Employees who are foreign nationals or employed or located outside the United States. Without limiting the generality of, but consistent with, the foregoing, the Board specifically is authorized to adopt rules, procedures, and sub-plans, which, for
purposes of the Non-423 Component, may be beyond the scope of Section 423 of the Code, regarding, without limitation, eligibility to participate in the Plan, handling and making of Contributions, establishment of bank or trust accounts to hold
Contributions, payment of interest, conversion of local currency, obligations to pay payroll tax, determination of beneficiary designation requirements, withholding procedures and handling of share issuances, any of which may vary according to
applicable requirements. 
 (c) The Board may delegate some or all of the administration of the Plan to a Committee or Committees. If
administration is delegated to a Committee, the Committee will have, in connection with the administration of the Plan, the powers theretofore possessed by the Board that have been delegated to the Committee, including the power to delegate to a
subcommittee any of the administrative powers the Committee is authorized to exercise (and references in this Plan to the Board will thereafter be to the Committee or subcommittee), subject, however, to such resolutions, not inconsistent with the
provisions of the Plan, as may be adopted from time to time by the Board. The Board may retain the authority to concurrently administer the Plan with the Committee and may, at any time, revest in the Board some or all of the powers previously
delegated. Whether or not the Board has delegated administration of the Plan to a Committee, the Board will have the final power to determine all questions of policy and expediency that may arise in the administration of the Plan. 

(d) All determinations, interpretations and constructions made by the Board in good faith will not be subject to review by any person
and will be final, binding and conclusive on all persons. 

  
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	3.	SHARES OF COMMON STOCK SUBJECT TO THE PLAN. 

(a) Subject to the provisions of Section 11(a) relating to Capitalization Adjustments, the maximum number of shares of Common Stock
that may be issued under the Plan will not exceed 530,000 shares of Common Stock, plus the number of shares of Common Stock that are automatically added on January 1 of each year, commencing on (and including) January 1, 2016 and ending on
(and including) January 1, 2025, in an amount equal to the lesser of (i) two percent (2%) of the total number of shares of Capital Stock outstanding on December 31 of the preceding fiscal year, and (ii) 600,000 shares of
Common Stock. Notwithstanding the foregoing, the Board may act prior to the first day of any fiscal year to provide that there will be no January 1 increase in the share reserve for such fiscal year or that the increase in the share reserve for
such fiscal year will be a lesser number of shares of Common Stock than would otherwise occur pursuant to the preceding sentence. 

(b) If any Purchase Right granted under the Plan terminates without having been exercised in full, the shares of Common Stock not
purchased under such Purchase Right will again become available for issuance under the Plan.  
 (c) The stock purchasable
under the Plan will be shares of authorized but unissued or reacquired Common Stock, including shares repurchased by the Company on the open market.  
  

	4.	GRANT OF PURCHASE RIGHTS; OFFERING. 

(a) The Board may from time to time grant or provide for the grant of Purchase Rights to Eligible Employees under an Offering
(consisting of one or more Purchase Periods) on an Offering Date or Offering Dates selected by the Board. Each Offering will be in such form and will contain such terms and conditions as the Board will deem appropriate, and with respect to the 423
Component, will comply with the requirement of Section 423(b)(5) of the Code that all Employees granted Purchase Rights will have the same rights and privileges. The terms and conditions of an Offering shall be incorporated by reference into
the Plan and treated as part of the Plan. The provisions of separate Offerings need not be identical, but each Offering will include (through incorporation of the provisions of this Plan by reference in the document comprising the Offering or
otherwise) the period during which the Offering will be effective, which period will not exceed 27 months beginning with the Offering Date, and the substance of the provisions contained in Sections 5 through 8, inclusive. 

(b) If a Participant has more than one Purchase Right outstanding under the Plan, unless he or she otherwise indicates in forms
delivered to the Company: (i) each form will apply to all of his or her Purchase Rights under the Plan, and (ii) a Purchase Right with a lower exercise price (or an earlier-granted Purchase Right, if different Purchase Rights have
identical exercise prices) will be exercised to the fullest possible extent before a Purchase Right with a higher exercise price (or a later-granted Purchase Right if different Purchase Rights have identical exercise prices) will be exercised.

 (c) The Board will have the discretion to structure an Offering so that if the Fair Market Value of a share of Common Stock on
the first Trading Day of a new Purchase Period within that Offering is less than or equal to the Fair Market Value of a share of Common Stock 

  
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on the Offering Date for that Offering, then (i) that Offering will terminate immediately as of that first Trading Day, and (ii) the Participants in such terminated Offering will be
automatically enrolled in a new Offering beginning on the first Trading Day of such new Purchase Period. 
  

	5.	ELIGIBILITY. 

 (a) Purchase Rights may be granted only to Employees
of the Company or, as the Board may designate in accordance with Section 2(b), to Employees of a Related Corporation or an Affiliate. Except as provided in Section 5(b), an Employee will not be eligible to be granted Purchase Rights
unless, on the Offering Date, the Employee has been in the employ of the Company, a Related Corporation, or an Affiliate, as the case may be, for such continuous period preceding such Offering Date as the Board may require, but in no event will the
required period of continuous employment be equal to or greater than two years. In addition, the Board may provide that no Employee will be eligible to be granted Purchase Rights under the Plan unless, on the Offering Date, such Employee’s
customary employment with the Company, the Related Corporation, or the Affiliate, as applicable, is more than 20 hours per week and more than five months per calendar year or such other criteria as the Board may determine consistent with
Section 423 of the Code, unless such exclusion from eligibility is prohibited by applicable laws or regulations.  
 (b)
The Board may provide that each person who, during the course of an Offering, first becomes an Eligible Employee will, on a date or dates specified in the Offering which coincides with the day on which such person becomes an Eligible Employee or
which occurs thereafter, receive a Purchase Right under that Offering, which Purchase Right will thereafter be deemed to be a part of that Offering. Such Purchase Right will have the same characteristics as any Purchase Rights originally granted
under that Offering, as described herein, except that: 
 (i) the date on which such Purchase Right is granted will be the
“Offering Date” of such Purchase Right for all purposes, including determination of the exercise price of such Purchase Right; 

(ii) the period of the Offering with respect to such Purchase Right will begin on its Offering Date and end coincident with the end of
such Offering; and 
 (iii) the Board may provide that if such person first becomes an Eligible Employee within a specified
period of time before the end of the Offering, he or she will not receive any Purchase Right under that Offering. 
 (c) No
Employee will be eligible for the grant of any Purchase Rights if, immediately after any such Purchase Rights are granted, such Employee owns stock possessing five percent or more of the total combined voting power or value of all classes of stock
of the Company or of any Related Corporation. For purposes of this Section 5(c), the rules of Section 424(d) of the Code will apply in determining the stock ownership of any Employee, and stock which such Employee may purchase under all
outstanding Purchase Rights and options will be treated as stock owned by such Employee. 
 (d) As specified by
Section 423(b)(8) of the Code, an Eligible Employee may be granted Purchase Rights only if such Purchase Rights, together with any other rights granted 

  
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under all Employee Stock Purchase Plans of the Company and any Related Corporations, do not permit such Eligible Employee’s rights to purchase stock of the Company or any Related Corporation
to accrue at a rate which exceeds $25,000 of Fair Market Value of such stock (determined at the time such rights are granted, and which, with respect to the Plan, will be determined as of their respective Offering Dates) for each calendar year in
which such rights are outstanding at any time. 
 (e) Officers of the Company and any Designated Company, if they are otherwise
Eligible Employees, will be eligible to participate in Offerings under the Plan. Notwithstanding the foregoing, the Board may provide in an Offering that Employees who are highly compensated Employees within the meaning of Section 423(b)(4)(D)
of the Code will not be eligible to participate, unless such exclusion from eligibility is prohibited by applicable laws or regulations. 
  

	6.	PURCHASE RIGHTS; PURCHASE PRICE. 

(a) On each Offering Date, each Eligible Employee, pursuant to an Offering made under the Plan, will be granted a Purchase Right to
purchase up to that number of shares of Common Stock purchasable either with a percentage or with a maximum dollar amount, as designated by the Board, but in either case not exceeding 15% of such Employee’s earnings (as defined by the Board in
each Offering) during the period that begins on the Offering Date (or such later date as the Board determines for a particular Offering) and ends on the date stated in the Offering, which date will be no later than the end of the Offering. 

(b) The Board will establish one or more Purchase Dates during an Offering on which Purchase Rights granted for that Offering will be
exercised and shares of Common Stock will be purchased in accordance with such Offering. 
 (c) In connection with each
Offering made under the Plan, the Board may specify (i) a maximum number of shares of Common Stock that may be purchased by any Participant on any Purchase Date during such Offering, (ii) a maximum aggregate number of shares of Common
Stock that may be purchased by all Participants pursuant to such Offering and/or (iii) a maximum aggregate number of shares of Common Stock that may be purchased by all Participants on any Purchase Date under the Offering. If the aggregate
purchase of shares of Common Stock issuable upon exercise of Purchase Rights granted under the Offering would exceed any such maximum aggregate number, then, in the absence of any Board action otherwise, a pro rata (based on each Participant’s
accumulated Contributions) allocation of the shares of Common Stock available will be made in as nearly a uniform manner as will be practicable and equitable. 

(d) The purchase price of shares of Common Stock acquired pursuant to Purchase Rights will be not less than the lesser of: 

(i) an amount equal to 85% of the Fair Market Value of the shares of Common Stock on the Offering Date; and 

(ii) an amount equal to 85% of the Fair Market Value of the shares of Common Stock on the applicable Purchase Date. 

  
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	7.	PARTICIPATION; WITHDRAWAL; TERMINATION. 

(a) An Eligible Employee may elect to authorize payroll deductions as the means of making Contributions by completing and delivering to
the Company, within the time specified in the Offering, an enrollment form provided by the Company. The enrollment form will specify the amount of Contributions not to exceed the maximum amount specified by the Board. Each Participant’s
Contributions will be credited to a bookkeeping account for such Participant under the Plan and will be deposited with the general funds of the Company except where applicable laws or regulations require that Contributions be deposited with a third
party or otherwise be segregated. If permitted in the Offering, a Participant may begin such Contributions with the first payroll occurring on or after the Offering Date (or, in the case of a payroll date that occurs after the end of the prior
Offering but before the Offering Date of the next new Offering, Contributions from such payroll will be included in the new Offering). If permitted in the Offering, a Participant may thereafter reduce (including to zero) or increase his or her
Contributions. If required under applicable laws or regulations or if specifically provided in the Offering, in addition to or instead of making Contributions by payroll deductions, a Participant may make Contributions through a payment by cash,
check or wire transfer prior to a Purchase Date, in a manner directed by the Company. 
 (b) During an Offering, a Participant
may cease making Contributions and withdraw from the Offering by delivering to the Company a withdrawal form provided by the Company. The Company may impose a deadline before a Purchase Date for withdrawing. Upon such withdrawal, such
Participant’s Purchase Right in that Offering will immediately terminate and the Company will distribute to such Participant all of his or her accumulated but unused Contributions and such Participant’s Purchase Right in that Offering
shall thereupon terminate. A Participant’s withdrawal from that Offering will have no effect upon his or her eligibility to participate in any other Offerings under the Plan, but such Participant will be required to deliver a new enrollment
form to participate in subsequent Offerings. 
 (c) Unless otherwise required by applicable laws or regulations, Purchase
Rights granted pursuant to any Offering under the Plan will terminate immediately if the Participant either (i) is no longer an Employee for any reason or for no reason or (ii) is otherwise no longer eligible to participate. The Company
will distribute to such individual all of his or her accumulated but unused Contributions.  
 (d) During a Participant’s
lifetime, Purchase Rights will be exercisable only by such Participant. Purchase Rights are not transferable by a Participant, except by will, by the laws of descent and distribution, or, if permitted by the Company, by a beneficiary designation as
described in Section 10.  
 (e) Unless otherwise specified in the Offering, the Company will have no obligation to pay
interest on Contributions, unless required to do so by applicable laws or regulations. 
  

	8.	EXERCISE OF PURCHASE RIGHTS. 

(a) On each Purchase Date, each Participant’s accumulated Contributions will be applied to the purchase of shares of Common Stock,
up to the maximum number of shares of 

  
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Common Stock permitted by the Plan and the applicable Offering, at the purchase price specified in the Offering. No fractional shares will be issued unless specifically provided for in the
Offering. 
 (b) If any amount of accumulated Contributions remains in a Participant’s account after the purchase of shares of
Common Stock and such remaining amount is less than the amount required to purchase one share of Common Stock on the final Purchase Date of an Offering, then such remaining amount will be held in such Participant’s account for the purchase of
shares of Common Stock under the next Offering under the Plan, unless such Participant withdraws from or is not eligible to participate in such Offering, in which case such amount will be distributed to such Participant after the final Purchase
Date, without interest. If the amount of Contributions remaining in a Participant’s account after the purchase of shares of Common Stock is at least equal to the amount required to purchase one whole share of Common Stock on the final Purchase
Date of an Offering, then such remaining amount will not roll over to the next Offering and will instead be distributed in full to such Participant after the final Purchase Date of such Offering without interest. 

(c) No Purchase Rights may be exercised to any extent unless the shares of Common Stock to be issued upon such exercise under the Plan
are covered by an effective registration statement pursuant to the Securities Act and the Plan is in material compliance with all applicable U.S. federal and state, foreign and other securities and other laws applicable to the Plan. If on a Purchase
Date the shares of Common Stock are not so registered or the Plan is not in such compliance, no Purchase Rights will be exercised on such Purchase Date, and the Purchase Date will be delayed until the shares of Common Stock are subject to such an
effective registration statement and the Plan is in material compliance, except that the Purchase Date will in no event be more than 6 months from the Offering Date. If, on the Purchase Date, as delayed to the maximum extent permissible, the shares
of Common Stock are not registered and the Plan is not in material compliance with all applicable laws or regulations, as determined by the Company in its sole discretion, no Purchase Rights will be exercised and all accumulated but unused
Contributions will be distributed to the Participants without interest, unless otherwise required by applicable laws or regulations. 
  

	9.	COVENANTS OF THE COMPANY. 

The Company will seek to obtain from each U.S. federal or state, foreign or other regulatory commission or agency having jurisdiction over the
Plan such authority as may be required to grant Purchase Rights and issue and sell shares of Common Stock thereunder unless the Company determines in its sole discretion, that doing so would cause the Company to incur costs that are unreasonable.
If, after commercially reasonable efforts, the Company is unable to obtain the authority that counsel for the Company deems necessary for the grant of Purchase Rights or the lawful issuance and sale of Common Stock under the Plan, and at a
commercially reasonable cost, the Company will be relieved from any liability for failure to grant Purchase Rights and/or to issue and sell Common Stock upon exercise of such Purchase Rights. 

  
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	10.	DESIGNATION OF BENEFICIARY. 

 (a) The
Company may, but is not obligated to, permit a Participant to submit a form designating a beneficiary who will receive any shares of Common Stock and/or Contributions from the Participant’s account under the Plan if the Participant dies before
such shares and/or Contributions are delivered to the Participant. The Company may, but is not obligated to, permit the Participant to change such designation of beneficiary. Any such designation and/or change must be on a form approved by the
Company. 
 (b) If a Participant dies, in the absence of a valid beneficiary designation, the Company will deliver any shares
of Common Stock and/or Contributions to the executor or administrator of the estate of the Participant. If no executor or administrator has been appointed (to the knowledge of the Company), the Company, in its sole discretion, may deliver such
shares of Common Stock and/or Contributions to the Participant’s spouse, dependents or relatives, or if no spouse, dependent or relative is known to the Company, then to such other person as the Company may designate. 

 

	11.	ADJUSTMENTS UPON CHANGES IN COMMON STOCK; CORPORATE TRANSACTIONS. 

(a) In the event of a Capitalization Adjustment, the Board will appropriately and proportionately adjust: (i) the class(es) and
maximum number of securities subject to the Plan pursuant to Section 3(a), (ii) the class(es) and maximum number of securities by which the share reserve is to increase automatically each year pursuant to Section 3(a), (iii) the
class(es) and number of securities subject to, and the purchase price applicable to outstanding Offerings and Purchase Rights, and (iv) the class(es) and number of securities that are the subject of the purchase limits under each ongoing
Offering. The Board will make these adjustments, and its determination will be final, binding and conclusive.  
 (b) In the
event of a Corporate Transaction, then: (i) any surviving corporation or acquiring corporation (or the surviving or acquiring corporation’s parent company) may assume or continue outstanding Purchase Rights or may substitute similar rights
(including a right to acquire the same consideration paid to the stockholders in the Corporate Transaction) for outstanding Purchase Rights, or (ii) if any surviving or acquiring corporation (or its parent company) does not assume or continue
such Purchase Rights or does not substitute similar rights for such Purchase Rights, then the Participants’ accumulated Contributions will be used to purchase shares of Common Stock within ten business days prior to the Corporate Transaction
under the outstanding Purchase Rights, and the Purchase Rights will terminate immediately after such purchase. 
  

	12.	AMENDMENT, TERMINATION OR SUSPENSION OF THE PLAN. 

(a) The Board may amend the Plan at any time in any respect the Board deems necessary or advisable. However, except as provided in
Section 11(a) relating to Capitalization Adjustments, stockholder approval will be required for any amendment of the Plan for which stockholder approval is required by applicable laws, regulations or listing requirements, including any
amendment that either (i) materially increases the number of shares of Common Stock available for issuance under the Plan, (ii) materially expands the class of individuals 

  
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eligible to become Participants and receive Purchase Rights, (iii) materially increases the benefits accruing to Participants under the Plan or materially reduces the price at which shares
of Common Stock may be purchased under the Plan, (iv) materially extends the term of the Plan, or (v) expands the types of awards available for issuance under the Plan, but in each of (i) through (v) above only to the extent
stockholder approval is required by applicable laws, regulations or listing requirements. 
 (b) The Board may suspend or terminate
the Plan at any time. No Purchase Rights may be granted under the Plan while the Plan is suspended or after it is terminated. 

(c) Any benefits, privileges, entitlements and obligations under any outstanding Purchase Rights granted before an amendment,
suspension or termination of the Plan will not be materially impaired by any such amendment, suspension or termination except (i) with the consent of the person to whom such Purchase Rights were granted, (ii) as necessary to comply with
any laws, listing requirements, or governmental regulations (including, without limitation, the provisions of Section 423 of the Code and the regulations and other interpretive guidance issued thereunder relating to Employee Stock Purchase
Plans) including without limitation any such regulations or other guidance that may be issued or amended after the date the Plan is adopted by the Board, or (iii) as necessary to obtain or maintain any special tax, listing, or regulatory
treatment. To be clear, the Board may amend outstanding Purchase Rights without a Participant’s consent if such amendment is necessary to ensure that the Purchase Right and/or the 423 Component complies with the requirements of Section 423
of the Code. 
  

	13.	SECTION 409A OF THE CODE; TAX QUALIFICATION. 

(a) Purchase Rights granted under the 423 Component are intended to be exempt from the application of Section 409A of the Code
under U.S. Treasury Regulation Section 1.409A-1(b)(5)(ii). Purchase Rights granted under the Non-423 Component to U.S. taxpayers are intended to be exempt from the application of Section 409A of the Code under the short-term deferral
exception and any ambiguities will be construed and interpreted in accordance with such intent. Subject to Section 13(b) below, Purchase Rights granted to U.S. taxpayers under the Non-423 Component will be subject to such terms and
conditions that will permit such Purchase Rights to satisfy the requirements of the short-term deferral exception available under Section 409A of the Code, including the requirement that the shares subject to a Purchase Right be delivered
within the short-term deferral period. Subject to Section 13(b) below, in the case of a Participant who would otherwise be subject to Section 409A of the Code, to the extent the Board determines that a Purchase Right or the exercise,
payment, settlement or deferral thereof is subject to Section 409A of the Code, the Purchase Right will be granted, exercised, paid, settled or deferred in a manner that will comply with Section 409A of the Code, including U.S. Department
of Treasury regulations and other interpretive guidance issued thereunder, including, without limitation, any such regulations or other guidance that may be issued after the adoption of the Plan. Notwithstanding the foregoing, the Company will
have no liability to a Participant or any other party if the Purchase Right that is intended to be exempt from or compliant with Section 409A of the Code is not so exempt or compliant or for any action taken by the Board with respect thereto.
 

  
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 (b) Although the Company may endeavor to (i) qualify a Purchase Right for special tax
treatment under the laws of the United States or jurisdictions outside of the United States or (ii) avoid adverse tax treatment (e.g., under Section 409A of the Code), the Company makes no representation to that effect and expressly
disavows any covenant to maintain special or to avoid unfavorable tax treatment, notwithstanding anything to the contrary in this Plan, including Section 13(a) above. The Company will be unconstrained in its corporate activities without
regard to the potential negative tax impact on Participants under the Plan.  
  

	14.	EFFECTIVE DATE OF PLAN. 

 The
Plan will become effective immediately prior to and contingent upon the IPO Date. No Purchase Rights will be exercised unless and until the Plan has been approved by the stockholders of the Company, which approval must be within 12 months before or
after the date the Plan is adopted (or if required under Section 12(a) above, materially amended) by the Board. 
  

	15.	MISCELLANEOUS PROVISIONS. 

 (a) Proceeds from the
sale of shares of Common Stock pursuant to Purchase Rights will constitute general funds of the Company. 
 (b) A Participant will
not be deemed to be the holder of, or to have any of the rights of a holder with respect to, shares of Common Stock subject to Purchase Rights unless and until the Participant’s shares of Common Stock acquired upon exercise of Purchase Rights
are recorded in the books of the Company (or its transfer agent). 
 (c) The Plan and Offering do not constitute an employment
contract. Nothing in the Plan or in the Offering will in any way alter the at will nature of a Participant’s employment, if applicable, or be deemed to create in any way whatsoever any obligation on the part of any Participant to continue in
the employ of the Company, a Related Corporation, or an Affiliate, or on the part of the Company, a Related Corporation, or an Affiliate to continue the employment of a Participant. 

(d) The provisions of the Plan will be governed by the laws of the State of Delaware without resort to that state’s conflicts of
laws rules. 
 (e) If any particular provision of the Plan is found to be invalid or otherwise unenforceable, such provision will not
affect the other provisions of the Plan, but the Plan will be construed in all respects as if such invalid provision were omitted. 
  

	16.	DEFINITIONS. 

 As used in the Plan, the following definitions will apply
to the capitalized terms indicated below: 
 (a) “423 Component” means the part of the Plan, which excludes
the Non-423 Component, pursuant to which Purchase Rights that satisfy the requirements for an Employee Stock Purchase Plan may be granted to Eligible Employees. 

  
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 (b) “Affiliate” means any branch or
representative office or other disregarded entity of a Related Corporation, as determined by the Board, whether now or hereafter existing. 

(c) “Board” means the Board of Directors of the Company. 

(d) “Capital Stock” means each and every class of common stock of the Company,
regardless of the number of votes per share. 
 (e) “Capitalization
Adjustment” means any change that is made in, or other events that occur with respect to, the Common Stock subject to the Plan or subject to any Purchase Right after the date the Plan is adopted by the Board without the receipt of
consideration by the Company through merger, consolidation, reorganization, recapitalization, reincorporation, stock dividend, dividend in property other than cash, large nonrecurring cash dividend, stock split, liquidating dividend, combination of
shares, exchange of shares, change in corporate structure or other similar equity restructuring transaction, as that term is used in Financial Accounting Standards Board Accounting Standards Codification Topic 718 (or any successor thereto).
Notwithstanding the foregoing, the conversion of any convertible securities of the Company will not be treated as a Capitalization Adjustment. 

(f) “Code” means the U.S. Internal Revenue Code of 1986, as amended, including any
applicable regulations and guidance thereunder. 
 (g)
“Committee” means a committee of one or more members of the Board to whom authority has been delegated by the Board in accordance with Section 2(c). 

(h) “Common Stock” means, as of the IPO Date, the common stock of the
Company. 
 (i) “Company” means eASIC Corporation, a Delaware
corporation. 
 (j) “Contributions” means the payroll deductions and/or other
payments specifically provided for in the Offering that a Participant contributes to fund the exercise of a Purchase Right. A Participant may make additional payments into his or her account if specifically provided for in the Offering, and then
only if the Participant has not already had the maximum permitted amount withheld during the Offering through payroll deductions. 

(k) “Corporate Transaction” means the consummation, in a single transaction or in a
series of related transactions, of any one or more of the following events: 
 (i) a sale or other disposition of all
or substantially all, as determined by the Board in its sole discretion, of the consolidated assets of the Company and its Subsidiaries; 

(ii) a sale or other disposition of at least 90% of the outstanding securities of the Company; 

(iii) a merger, consolidation or similar transaction following which the Company is not the surviving corporation; or 

  
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 (iv) a merger, consolidation or similar transaction following which the Company is the
surviving corporation but the shares of Common Stock outstanding immediately preceding the merger, consolidation or similar transaction are converted or exchanged by virtue of the merger, consolidation or similar transaction into other property,
whether in the form of securities, cash or otherwise. 
 (l) “Designated Company” means any Designated
Non-423 Corporation or Designated 423 Corporation. 
 (m) “Designated 423 Corporation” means any Related
Corporation selected by the Board as participating in the 423 Component. 
 (n) “Designated Non-423
Corporation” means any Related Corporation or Affiliate selected by the Board as participating in the Non-423 Component. 

(o) “Director” means a member of the Board. 

(p) “Eligible Employee” means an Employee who meets the requirements set forth in
the document(s) governing the Offering for eligibility to participate in the Offering, provided that such Employee also meets the requirements for eligibility to participate set forth in the Plan. 

(q) “Employee” means any person, including an Officer or Director, who is treated
as an employee in the records of the Company or a Related Corporation (including an Affiliate). However, service solely as a Director, or payment of a fee for such services, will not cause a Director to be considered an “Employee” for
purposes of the Plan.  
 (r) “Employee Stock Purchase Plan” means
a plan that grants Purchase Rights intended to be options issued under an “employee stock purchase plan,” as that term is defined in Section 423(b) of the Code. 

(s) “Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended and
the rules and regulations promulgated thereunder. 
 (t) “Fair Market
Value” means, as of any date, the value of the Common Stock determined as follows: 
 (i) If the Common
Stock is listed on any established stock exchange or traded on any established market, the Fair Market Value of a share of Common Stock will be the closing sales price for such stock as quoted on such exchange or market (or the exchange or market
with the greatest volume of trading in the Common Stock) on the date of determination, as reported in such source as the Board deems reliable. Unless otherwise provided by the Board, if there is no closing sales price for the Common Stock on the
date of determination, then the Fair Market Value will be the closing sales price on the last preceding date for which such quotation exists. 

(ii) In the absence of such markets for the Common Stock, the Fair Market Value will be determined by the Board in good faith in
compliance with applicable laws and regulations and in a manner that complies with Sections 409A of the Code. 

  
 12 

 (iii) Notwithstanding the foregoing, for any Offering that commences on the IPO Date, the
Fair Market Value of the shares of Common Stock on the Offering Date will be the price per share at which shares are first sold to the public in the Company’s initial public offering as specified in the final prospectus for that initial public
offering. 
 (u) “IPO Date” means the date of the underwriting agreement between the Company and the
underwriter(s) managing the initial public offering of the Common Stock, pursuant to which the Common Stock is priced for the initial public offering. 

(v) “Non-423 Component” means the part of the Plan, which excludes the 423 Component, pursuant to which
Purchase Rights that are not intended to satisfy the requirements for an Employee Stock Purchase Plan may be granted to Eligible Employees. 

(w) “Offering” means the grant to Eligible Employees of Purchase Rights, with the exercise of those Purchase
Rights automatically occurring at the end of one or more Purchase Periods. The terms and conditions of an Offering will generally be set forth in the “Offering Document” approved by the Board for that Offering. 

(x) “Offering Date” means a date selected by the Board for an Offering to
commence. 
 (y) “Officer” means a person who is an officer of the
Company or a Related Corporation within the meaning of Section 16 of the Exchange Act. 
 (z)
“Participant” means an Eligible Employee who holds an outstanding Purchase Right. 

(aa) “Plan” means this eASIC Corporation 2014 Employee Stock Purchase Plan, including both the 423 Component
and the Non-423 Component, as amended from time to time. 
 (bb) “Purchase Date”
means one or more dates during an Offering selected by the Board on which Purchase Rights will be exercised and on which purchases of shares of Common Stock will be carried out in accordance with such Offering. 

(cc) “Purchase Period” means a period of time specified within an Offering,
generally beginning on the Offering Date or on the first Trading Day following a Purchase Date, and ending on a Purchase Date. An Offering may consist of one or more Purchase Periods. 

(dd) “Purchase Right” means an option to purchase shares of Common Stock granted
pursuant to the Plan. 
 (ee) “Related Corporation” means any
“parent corporation” or “subsidiary corporation” of the Company whether now or subsequently established, as those terms are defined in Sections 424(e) and (f), respectively, of the Code. 

(ff) “Securities Act” means the U.S. Securities Act of 1933, as amended.

  
 13 

 (gg) “Trading Day” means any day on
which the exchange(s) or market(s) on which shares of Common Stock are listed, including but not limited to the NYSE, Nasdaq Global Select Market, the Nasdaq Global Market, the Nasdaq Capital Market or any successors thereto, is open for
trading. 

  
 14EX-10.9

 Exhibit 10.9 

2585 Augustine Drive, Suite 100 

Santa Clara, CA 95054 

Phone: (408) 855-9200 

Fax: (408) 855-9201 

www.easic.com 
 October 15, 2010 

Ronnie Vasishta 
 eASIC Corporation 

2585 Augustine Drive, Suite 100 
 Santa Clara, CA 95054 

Re: Amended and Restated Employment Agreement 
 Dear
Ronnie: 
 As we have discussed, this letter agreement sets forth your amended and restated employment agreement (the “Agreement”)
with eASIC Corporation (the “Company”), which supersedes and replaces in full your previous employment agreement with the Company dated January 29, 2008. This Agreement is effective as of October 15, 2010 (the
“Effective Date”), provided that you have signed and returned this Agreement within ten (10) business days after receipt. 

1. Compensation (Salary; Incentive). Your current salary shall remain intact for the remainder of 2010. Beginning January 1, 2011,
you will be paid an annual base salary of $250,000 (payable in accordance with the Company’s usual payroll practice), which covers all hours worked; and you will be eligible to earn an annual performance bonus of up to $100,000 based on the
assessment by the board of directors of the Company (the “Board”) of your performance and the Company’s attainment of targeted goals as set by the Board in its sole discretion for fiscal year 2011 and for each year thereafter.
All payments made pursuant to this Agreement will be subject to withholding of applicable taxes. The annual performance bonus, if earned, will be paid no later than January 31 of the calendar year after the year to which it relates. Your base
salary and bonus eligibility will be reviewed on an annual or more frequent basis by the Board (or any authorized committee thereof), and are subject to change at the discretion of the Board (or any authorized committee thereof). 

2. Duties. You have been appointed by the Company to serve as its Chief Executive Officer and you shall perform the duties of such
positions as are customary and as may be required by the Board. Throughout the term of your employment, you will devote on a full time basis such business time and energies to the business and affairs of the Company as needed to carry out your
duties and responsibilities, subject to the overall supervision and direction of the Board. You will also be entitled to a seat on the Board as long as you hold the position of Chief Executive Officer. 

As an exempt employee, you are required to exercise your specialized expertise, independent judgment and discretion to provide high-quality
services. You are required to follow written office policies and procedures adopted from time to time by the Company. You will also be required to provide the Company with an I-9 form and satisfactory documentation confirming your right to work in
the United States. 

  
 1 

 3. Proprietary Information Agreement. The Company’s standard Proprietary Information
and Invention Agreement (the “PIIA”), which you have already signed and remains in full force and effect, is incorporated herein by reference. 

4. Stock Options.  

(a) Existing Options. Previously you were granted multiple stock options to purchase a total of 3,971,304 shares of Company common
stock, of which you have exercised a total of 400,000 shares (collectively, the “Existing Options”). The Existing Options shall continue to be governed in all respects by the terms of the applicable grant agreements, grant notices
and plan documents, provided however that, the Existing Options are hereby amended to incorporate the provisions contained in Sections 4(c)-(d) below. 

(b) New Options. At the most recent meeting of the Board of Directors you were granted two options (collectively, the “New
Options”): (i) one option to purchase 2,574,621 shares of Company’s common stock (the “True-Up Option”), (ii) one option to purchase 2,054,426 shares of the Company’s common stock (the
“Additional Option”) and (iii) one option to purchase 1,228,622 shares of the Company’s common stock (the “Performance Option”), each at an exercise price equal to the fair market value on the date of
grant, as determined by the Board, pursuant to the Company’s 2010 stock option plan (the “Plan”). The New Options will be immediately exercisable, subject to the Company’s right of repurchase over any unvested shares. The
shares subject to the True-Up Option shall vest monthly over four years from the vesting commencement date of the date of grant. The shares subject to the Additional Option shall vest monthly over four years from the vesting commencement date of the
date of grant. The shares subject to the Performance Option shall vest as follows: (x) 50% of the shares shall vest upon the Company’s attainment of its Board approved FY2011 financial plan during your Continuous Service (as defined in the
Plan) as the Company’s Chief Executive Officer, (y) 50% of the shares shall vest upon the Company’s attainment of its Board approved FY2012 financial plan during your Continuous Service as the Company’s Chief Executive Officer,
and (z) 100% of the shares shall vest upon the effectiveness of the Company’s initial public offering occuring prior to December 31, 2013 and during your Continuous Service as the Company’s Chief Executive Officer.
Notwithstanding the foregoing, any unvested shares under the Performance Option outstanding as of the 10th anniversary of the date of grant shall vest on such date assuming your Continuous Service
through such date; any unvested shares under the Performance Option shall not vest and shall immediately terminate upon a Change in Control. The New Options shall be subject to other standard provisions as set forth in the Plan and your option
agreements and related documents. 
 (c) Change in Control Acceleration. In the event of (i) your involuntary termination by the
Company without Cause, or (ii) your voluntary termination for Good Reason, in either case occurring after a Change in Control but not later than twelve (12) months following a Change in Control, and subject to your signing, dating,
returning to the Company and allowing to become effective a general release of all known and unknown claims in favor of the Company and its officers, directors, shareholders, employees, agents and successors, the Existing Options,

  
 2 

 
the True-Up Option and the Additional Option will be subject to vesting acceleration of 100% of each such option’s then unvested shares. Furthermore, upon your Continuous Service as the
Company’s Chief Executive Officer (or such other position with substantially similar duties and scope) through the first anniversary of a Change of Control, the Existing Options, the True-Up Option and the Additional Option will be subject to
vesting acceleration of 100% of each such option’s then unvested shares. 
 (d) Post-Termination Exercise Period. The Existing
Options and the New Option are hereby amended to provide that all stock options outstanding as of the date of the termination of your employment for any reason (and regardless of whether your employment terminates at your request or the
Company’s request), will be exercisable until the earlier of (i) the original end of the term of each such option, or (ii) the date that is ninety (90) days after the three (3) year anniversary of the employment
termination date. 
 5. Severance Benefits. In the event of your involuntary termination by the Company without Cause, or your
termination of employment with the Company for Good Reason, and subject to (A) your signing, dating, returning to the Company and allowing to become effective a general release of all known and unknown claims in favor of the Company and its
officers, directors, shareholders, employees, agents and successors, and (B) your agreement to seek diligently a new position of comparable responsibility and compensation, then you will receive the following as your sole severance benefits
(the “Severance Benefits”): (i) severance pay in the form of continuation of your base salary in effect as of the employment termination date for nine (9) months, less applicable withholding taxes, payable in accordance
with the Company’s normal payroll practices, plus (ii) if you timely elect continued group health insurance coverage under federal COBRA law or applicable state insurance laws (collectively, “COBRA”), then the Company
shall pay the COBRA premiums necessary to continue your medical insurance coverage in effect for yourself and your eligible dependents on the employment termination date for a period of nine (9) months following your termination (provided that
such COBRA payments shall terminate on such earlier date as you are no longer eligible for COBRA coverage). The salary continuation payments described in clause (i) above will be paid in substantially equal installments on the Company’s
regular payroll schedule and subject to standard deductions and withholdings over the nine (9) month period following your termination; provided, however, that no payments will be made prior to the effective date of the release of
claims. On the first payroll pay day following the effective date of the release of claims, the Company will pay the salary continuation payments that you would have received on or prior to such date in a lump sum under the original schedule but for
the delay in the effectiveness of the release of claims, with the balance of the cash severance being paid as originally scheduled. Each such installment will be deemed a separate “payment” for purposes of Section 409A of the Internal
Revenue Code. Notwithstanding the foregoing, all Severance Benefits shall cease under this Section 5 upon your commencement of employment or a full-time consulting relationship with another company or other employer. You agree to notify the
Company in writing during the nine-month period following the date of your employment termination of your commencement of employment or a full-time consulting relationship. 

6. Employee Benefits. You will be eligible for paid vacation, holidays, health benefits and other employee benefits, in accordance with
the Company’s employee policies and benefit plans as developed, adopted and modified from time to time. The Company reserves the right to modify or cancel such benefits at any time. 

  
 3 

 7. Definitions. For purposes of this Agreement, the following definitions shall apply:

 (a) Definition of Change in Control. “Change in Control” means (i) the acquisition of the Company by another entity
by means of any transaction or series of related transactions (including, without limitation, any reorganization, merger or consolidation but excluding any merger effected exclusively for the purpose of changing the domicile of the Company) if as a
result of such transaction or series of related transactions the shareholders of the Company prior to the commencement of the transaction or transactions own less than thirty percent (30%) of the voting shares of the entity surviving such
transaction or transactions; (ii) the sale, transfer or other disposition of all or substantially all assets of the Company; or (iii) a sale of all or substantially all of the capital stock of the Company. 

(b) Definition of Cause. “Cause” means (i) your conviction or plea of nolo contendere to a felony or other intentional
misconduct that, in the reasonable and good faith determination of the Board, (A) makes it impracticable for you to discharge substantially all of your duties as an officer of the Company, or (B) has a deleterious effect on the
Company’s reputation in its market or in the financial community, (ii) you commit gross negligence or intentional misconduct (including, without limitation, embezzlement, fraud or dishonesty) that is materially injurious to the Company, or
(iii) you violate in a material respect your employment duties (including, but not limited to, (A) a willful or grossly negligent act by you constituting a material breach of the PIIA or (B) your failure to substantially perform your
duties as an employee of the Company consistent with your title and duties and you do not cure such violation within fifteen (15) calendar days after receiving written notice from the Company detailing the specific actions of such failure to
perform and the specific actions necessary for you to cure such failure to perform). 
 (c) Definition of Good Reason. “Good
Reason” means your resignation of employment with the Company as a result of any action by the Company (or its successor or acquirer) which, without your written consent, (i) materially reduces the amount of your then annual base
compensation, except for a general reduction that applies proportionally to similarly situated employees, or (ii) unilaterally and materially changes your title and duties; provided, however, that the unilateral change by the surviving
or acquiring entity (or its parent) in your title and duties to a position that is substantially comparable in salary and responsibility to your current position shall not constitute “Good Reason”, or (iii) relocation of your
principal place of employment by more than twenty-five (25) miles, or (iv) a successor entity’s failure to assume this Agreement, or (v) any material breach by the Company of any material provision of any written agreement
between you and the Company. For your resignation to qualify as “Good Reason,” the following also must occur: (A) within the 60-day period immediately following the material change or reduction that you claim constitutes Good Reason
for your resignation, you provide the Board with written notice of the applicable material change or reduction; (B) such material change or reduction is not remedied by the Company within thirty (30) days following the Board’s receipt
of such written notice from you; and (C) your resignation of employment is effective not later than thirty (30) days after the expiration of the aforementioned thirty (30) day cure period. 

  
 4 

 8. At-Will Employment. Your continued employment with the Company is at the Company’s
sole discretion (in legal terms, this means that your employment is “at-will”). In other words, either you or the Company can terminate your employment at any time and for any legally permitted reason, with or without cause, and with or
without advance notice, and without thereby incurring any liability except as agreed upon under this Agreement, and subject to the conditions set forth herein. Your at will employment is not subject to change or modification of any kind except if in
a written agreement approved by the Board and signed by you and a member of the Board. 
 9. Dispute Resolution. 

(a) Obligation to Arbitrate. The Company and you mutually agree that any dispute or controversy arising out of, relating to, or in
connection with this Agreement, or the interpretation, validity, construction, performance, breach, or termination thereof, your employment, or the termination of your employment, shall be settled by confidential and binding arbitration to be held
in Santa Clara County, California in accordance with the National Rules for the Resolution of Employment Disputes then in effect of the American Arbitration Association (the “Rules”); provided, however, that nothing in this
Agreement is intended to prevent either you or the Company from obtaining injunctive relief in court to prevent irreparable harm pending the conclusion of any arbitration, including seeking such injunctive relief in connection with breach or
potential breach of the PIIA. Any such requests to court for injunctive relief shall be submitted to the state courts of California for the County of Santa Clara. Subject to the foregoing, the arbitrator may grant additional injunctions or other
relief in such dispute or controversy. The decision of the arbitrator will be final, conclusive and binding on the parties to the arbitration. Judgment may be entered on the arbitrator’s decision in any court having jurisdiction. 

(b) Legal Standards. The arbitrator(s) (and if applicable, the courts) will apply California law to the merits of any dispute or claim,
without reference to rules of conflicts of law. The arbitration proceedings will be governed by the Rules without reference to any other arbitration standards. You hereby consent to the personal jurisdiction of the state and federal courts located
in Santa Clara County, California for any action or proceeding arising from or relating to this Agreement or relating to any arbitration in which the parties are participants. 

(c) Costs. You and the Company will share the costs of arbitration equally, except that the Company will bear the cost of the
arbitrator’s fee and any other type of expense or cost that you would not be required to bear if you were to bring the dispute or claim in court. Both you and the Company will be responsible for their own attorney’s fees, and the
arbitrator may not award attorneys’ fees unless a statute or contract at issue specifically authorizes such an award. 
 (d)
ACKNOWLEDGEMENT. YOU HAVE READ AND UNDERSTAND THIS SECTION 9, WHICH DISCUSSES ARBITRATION. YOU UNDERSTAND THAT BY SIGNING THIS AGREEMENT, YOU AGREE TO SUBMIT ANY CLAIMS ARISING OUT 

  
 5 

 
OF, RELATING TO, OR IN CONNECTION WITH THIS AGREEMENT, OR THE INTERPRETATION, VALIDITY, CONSTRUCTION, PERFORMANCE, BREACH OR TERMINATION THEREOF, YOUR EMPLOYMENT, OR THE TERMINATION OF YOUR
EMPLOYMENT, TO CONFIDENTIAL, FINAL AND BINDING ARBITRATION, AND THAT THIS ARBITRATION CLAUSE CONSTITUTES A WAIVER OF YOUR RIGHT TO A JURY TRIAL AND RELATES TO THE RESOLUTION OF ALL DISPUTES RELATING TO ALL ASPECTS OF THE EMPLOYER/EMPLOYEE
RELATIONSHIP, INCLUDING BUT NOT LIMITED TO, DISCRIMINATION CLAIMS (WITH THE VERY NARROW EXCLUSION SET FORTH ABOVE OF APPLICATION FOR INJUNCTIVE RELIEF TO COURT) 

10. Integrated Agreement. This Agreement (together with the PIIA, any stock option agreements and related documents, including the
equity compensation plan pursuant to which such options are granted) supersedes any prior agreements (including without limitation the Letter Agreement between you and the Company dated February 14, 2006, and the Amendment to Employment
Agreement dated November 7, 2007), representation or promises of any kind, whether written, oral, express or implied, between you and the Company with respect to your employment terms and constitutes the full, complete and exclusive agreement
between you and the Company with respect to your employment with the Company. 
 11. Miscellaneous. No provision of this Agreement
may be amended or waived unless such amendment or waiver is agreed to by you and the Board in a signed writing. No waiver by you or by the Company of the breach of any condition or provision of this Agreement will be deemed a waiver of a similar or
dissimilar provision or condition at the same or any prior or subsequent time. In the event any portion of this Agreement is determined to be invalid or unenforceable for any reason, the remaining portions shall be unaffected thereby and will remain
in full force and effect to the fullest extent permitted by law. All matters relating to the interpretation or enforcement of this Agreement shall be governed by California law, without regard to its choice of law provisions. For purposes of
construing this Agreement, any ambiguity shall not be construed against either party as the drafter. 
 12. Absence of Conflicts. You
represent that your performance of your duties under this Agreement will not breach any other agreement as to which you are a party. 

13. Successors. This Agreement is binding on and may be enforced by the Company and its successors and assigns and is binding on and
may be enforced by you and your heirs and legal representatives. The Company will take commercially reasonable efforts to ensure that any successor to the Company or substantially all of its business (whether by purchase, merger, consolidation or
otherwise) assumes in writing and will be bound by all of the Company’s obligations under this Agreement. 
 14. Notices.
Notices hereunder must be in writing and will be deemed to have been given when personally delivered or two days after mailed by U.S. registered or certified mail, return receipt requested and postage prepaid. Mailed notices to you will be addressed
to you at the home address that you have most recently communicated to the Company in writing. Notices to the Company will be addressed to the Chairman of the Board (if you are in the position of Chief Executive Officer at the time of such notice),
or to the Chief Executive Officer at the Company’s corporate headquarters if you are not in the position of Chief Executive Officer at the time of such notice. 

  
 6 

 15. Legal Advice. You acknowledge that you had the opportunity to discuss this Agreement
with and obtain advice from your personal legal counsel, you had sufficient time to, and have carefully read and fully understand all the provisions of this Agreement, and you are knowingly and voluntarily entering into this Agreement. 

Please sign below if these terms are acceptable to you, and return the fully signed letter to me within ten (10) business days after receipt. 

Understood and Agreed: 
  

	
	EASIC CORPORATION
	
	/s/ Wayne Cantwell
	Wayne Cantwell
	Director
	
	RONNIE VASISHTA
	
	/s/ Ronnie Vasishta
	Signature
	
	10/17/10
	Date

  
 7

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