Document:

EX-10.25

 Exhibit 10.25 

FORM OF 

EMPLOYMENT AGREEMENT 

This Employment Agreement (“Agreement”) is between Amplify Snack Brands, Inc., a Delaware corporation (the “Company”), and
            (the “Executive”) and is made effective as of the closing of the Company’s first underwritten public offering of its equity securities pursuant to an effective
registration statement under the Securities Act of 1933, as amended (the “IPO”), provided the IPO is consummated prior to             , 2015 (the “Effective Date”). 

WHEREAS, the Company and the Executive previously entered in an employment agreement, dated
            , which the Company and the Executive intend to replace with this Agreement; and 

WHEREAS, the Company desires to continue to employ the Executive and the Executive desires to continue to be employed by the Company on the
new terms and conditions contained herein. 
 NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained and
other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 
 1.
Employment. 
 (a) Term. The term of this Agreement shall commence on the Effective Date and continue until terminated in
accordance with the provisions of Section 3 (the “Term”). The Executive’s employment with the Company shall be “at will,” meaning that the Executive’s employment may be terminated by the Company or the Executive at
any time and for any reason. 
 (b) Position and Duties. During the Term, the Executive shall serve as the
                     of the Company, and shall have supervision and control over and responsibility for the day-to-day business and affairs of the Company and shall have such other powers and duties as may from time to time be prescribed by the [Board of Directors of the Company (the “Board”)] [Chief
Executive Officer of the Company (the “CEO”) or other authorized executive], provided that such duties are consistent with the Executive’s position or other positions that he may hold from time to time. The Executive shall report to
the [Board][CEO]. The Executive shall devote his full working time and efforts to the business and affairs of the Company. Notwithstanding the foregoing, the Executive may serve on other boards of directors, with the approval of the [Board][Board of
Directors of the Company (the “Board”)], or engage in religious, charitable or other community activities as long as such services and activities are disclosed to the Board and do not materially interfere with the Executive’s
performance of his duties to the Company as provided in this Agreement[; provided, however, that unless the Executive receives express written permission from the Board, the Executive may serve on the board of directors of up to a maximum of two
(2) entities that are not a Competing Business (as defined herein). The Executive’s service on such board(s) is conditioned upon the Executive disclosing in writing to the Board the name and address of the entities for which the Executive
is providing such service as a board member.]. 

 2. Compensation and Related Matters. 

(a) Base Salary. During the Term, the Executive’s initial annual base salary shall be
             dollars ($        ). The Executive’s base salary shall be redetermined annually by the Board or the Compensation Committee. The
annual base salary in effect at any given time is referred to herein as “Base Salary.” The Base Salary shall be payable in a manner that is consistent with the Company’s usual payroll practices for senior executives. 

(b) Incentive Compensation. During the Term, the Executive shall be eligible to receive cash incentive compensation as determined by
the Board or the Compensation Committee from time to time. The Executive’s target annual incentive compensation shall be fifty percent (50%) of his Base Salary (which actual incentive compensation, for the avoidance of doubt, may exceed
fifty percent (50%) of his Base Salary). To earn incentive compensation, the Executive must be employed by the Company on the day such incentive compensation is paid. 

(c) Expenses. The Executive shall be entitled to receive prompt reimbursement for all reasonable expenses incurred by him during the
Term in performing services hereunder, in accordance with the policies and procedures then in effect and established by the Company for its senior executive officers. 

(d) Other Benefits. During the Term, the Executive shall be eligible to participate in or receive benefits under the Company’s
employee benefit plans in effect from time to time, subject to the terms of such plans. 
 (e) Vacations. During the Term, the
Executive shall be entitled to accrue paid vacation in accordance with the Company’s applicable vacation policy. 
 (f) Automobile
and Mobile Phone Allowance. During the Term, the Company shall reimburse the Executive for documented automobile-related expenses (i.e., lease payments, registration, insurance, maintenance, auto cleaning) and mobile telephone charges up to a
monthly aggregate cap of $1,100 (prorated for any partial month of service to the Company). 
 3. Termination. During the Term, the
Executive’s employment hereunder may be terminated without any breach of this Agreement under the following circumstances: 
 (a)
Death. The Executive’s employment hereunder shall terminate upon his death. 
 (b) Disability. The Company may terminate
the Executive’s employment if he is disabled and unable to perform the essential functions of the Executive’s then existing position or positions under this Agreement with or without reasonable accommodation for a period of one hundred
eighty (180) days (which need not be consecutive) in any 12-month period. If any question shall arise as to whether during any period the Executive is disabled so as to be unable to perform the essential functions of the Executive’s then
existing position or positions with or without reasonable accommodation, the Executive may, and at the request of the Company shall, submit to the Company a certification in reasonable detail by a physician selected by the Company to whom the
Executive or the Executive’s guardian has no reasonable 

  
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objection as to whether the Executive is so disabled or how long such disability is expected to continue, and such certification shall for the purposes of this Agreement be conclusive of the
issue. The Executive shall cooperate with any reasonable request of the physician in connection with such certification. If such question shall arise and the Executive shall fail to submit such certification, the Company’s determination of such
issue shall be binding on the Executive. Nothing in this Section 3(b) shall be construed to waive the Executive’s rights, if any, under existing law including, without limitation, the Family and Medical Leave Act of 1993, 29 U.S.C.
§2601 et seq. and the Americans with Disabilities Act, 42 U.S.C. §12101 et seq.  
 (c) Termination by
Company for Cause. The Company may terminate the Executive’s employment hereunder for Cause. For purposes of this Agreement, “Cause” shall mean: (i) conduct by the Executive constituting a material act of misconduct in
connection with the performance of the Executive’s duties, including, without limitation, misappropriation of funds or property of the Company or any of its subsidiaries or affiliates; (ii) the indictment of the Executive for any felony
involving deceit, dishonesty or fraud, or any criminal conduct by the Executive that would reasonably be expected to result in material injury or reputational harm to the Company or any of its subsidiaries and affiliates if the Executive was
retained in his position; (iii) continued non-performance by the Executive of the Executive’s duties hereunder (other than by reason of the Executive’s physical or mental illness, incapacity or disability) which has continued for more
than thirty (30) days following written notice of such non-performance from the [Board][CEO]; (iv) a material breach by the Executive of any of the provisions contained in this Agreement which has continued for more than thirty
(30) days following written notice of such non-performance from the [Board][CEO]; (v) a material violation by the Executive of the Company’s written employment policies which has continued for more than thirty (30) days following
written notice of such non-performance from the [Board][CEO]; provided, that the cure period specified in this clause (v) shall not apply to material violations of Section 7 of this Agreement; or (vi) failure to reasonably
cooperate with a bona fide internal investigation or an investigation by regulatory or law enforcement authorities, after being instructed by the Company to cooperate, or the willful destruction or failure to preserve documents or other materials
known to be relevant to such investigation or the inducement of others to fail to reasonably cooperate or to produce documents or other materials in connection with such investigation. 

(d) Termination Without Cause. The Company may terminate the Executive’s employment hereunder at any time without Cause. Any
termination by the Company of the Executive’s employment under this Agreement which does not constitute a termination for Cause under Section 3(c) and does not result from the death or disability of the Executive under Section 3(a) or
(b) shall be deemed a termination without Cause. 
 (e) Termination by the Executive. The Executive may terminate his employment
hereunder at any time for any reason, including but not limited to Good Reason. For purposes of this Agreement, “Good Reason” shall mean that the Executive has complied with the “Good Reason Process” (hereinafter defined)
following the occurrence of any of the following events without the Executive’s express written consent: (i) a material diminution in the Executive’s responsibilities, authority or duties; (ii) a material diminution in the
Executive’s Base Salary except for across-the-board salary reductions based on the Company’s financial performance similarly affecting all or substantially all senior management employees of the

  
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Company; (iii) the material breach by the Company of (A) this Agreement or (B) any other agreement between the Executive (on the one hand) and the Company or any of its
subsidiaries or affiliates (on the other hand) relating to (x) any grant, award or issuance by the Company of any equity or debt securities to the Executive (including any stock option or restricted stock awards) or (y) indemnification of
the Executive by the Company or any of its subsidiaries; or (iv) the relocation of Executive’s principal place of employment by more than fifty (50) miles from its then current location. “Good Reason Process” shall mean that
(i) the Executive reasonably determines in good faith that a “Good Reason” condition has occurred; (ii) the Executive notifies the Company in writing of the first occurrence of the Good Reason condition within sixty
(60) days of the first occurrence of such condition; (iii) the Executive cooperates in good faith with the Company’s efforts, for a period not less than thirty (30) days following such notice (the “Cure Period”) to
remedy the condition; (iv) notwithstanding such efforts, the Good Reason condition continues to exist; and (v) the Executive terminates his employment within sixty (60) days after the end of the Cure Period. If the Company cures the
Good Reason condition during the Cure Period, Good Reason shall be deemed not to have occurred. 
 (f) Notice of Termination. Except
for termination as specified in Section 3(a), any termination of the Executive’s employment by the Company or any such termination by the Executive shall be communicated by written Notice of Termination to the other party hereto. For
purposes of this Agreement, a “Notice of Termination” shall mean a notice which shall indicate the specific termination provision in this Agreement relied upon. 

(g) Date of Termination. “Date of Termination” shall mean: (i) if the Executive’s employment is terminated by his
death, the date of his death; (ii) if the Executive’s employment is terminated on account of disability under Section 3(b) or by the Company for Cause under Section 3(c), the date on which Notice of Termination is given;
(iii) if the Executive’s employment is terminated by the Company under Section 3(d), the date on which a Notice of Termination is given; (iv) if the Executive’s employment is terminated by the Executive under
Section 3(e) without Good Reason, thirty (30) days after the date on which a Notice of Termination is given, and (v) if the Executive’s employment is terminated by the Executive under Section 3(e) with Good Reason, the date
on which a Notice of Termination is given after the end of the Cure Period. Notwithstanding the foregoing, in the event that either party gives a Notice of Termination, the Company may unilaterally accelerate the Date of Termination. 

(h) Insurance. In no event shall the termination of the Executive’s employment by the Company or any such termination by the
Executive pursuant to this Agreement release any claim by the Executive for indemnification that he is otherwise entitled to under any director or officer’s insurance policy or any articles, bylaws or other foundation documents of the Company.
Without limiting the foregoing, the Company shall provide Executive with reasonable director’s and officer’s insurance coverage that is at least as favorable as the coverage in existence on the date of this Agreement (the “Existing
D&O Coverage”); provided, however, that in no event shall the Company be obligated to maintain director’s and officer’s insurance coverage to the extent that premiums thereunder exceed 200% of the premiums payable by the Company
under the Existing D&O Coverage on the date hereof (the “Threshold”); provided, further, that to the extent such premiums exceed the foregoing Threshold, the Company shall obtain director’s and officer’s insurance coverage on
terms as 

  
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similar as reasonably practicable to the terms of the Existing D&O Coverage without exceeding the Threshold. Such insurance coverage shall continue in effect during the Term and after the
Term ends for a period of six (6) years thereafter. The cost of such coverage shall be paid by the Company. Notwithstanding anything to the contrary in this Agreement, including but not limited to Section 24, upon the occurrence of a
Change in Control of the Company, the obligations set forth in this section shall terminate, provided that the Company shall (x) secure “tail insurance” with respect to the Existing D&O Insurance on reasonable terms and conditions
of coverage, and (y) require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Company to honor any indemnification obligations that the
Executive is otherwise entitled to under any articles, bylaws or other foundation documents of the Company in the same manner as the Company’s directors and officers immediately prior to such Change in Control. 

4. Compensation Upon Termination. 

(a) Termination Generally. If the Executive’s employment with the Company is terminated for any reason, the Company shall pay or
provide to the Executive (or to his authorized representative or estate) (i) any Base Salary earned through the Date of Termination, unpaid expense reimbursements (subject to, and in accordance with, Section 2(c) of this Agreement) and
unused vacation that accrued through the Date of Termination on or before the time required by law but in no event more than thirty (30) days after the Executive’s Date of Termination; and (ii) any vested benefits the Executive may
have under any employee benefit plan of the Company through the Date of Termination, which vested benefits shall be paid and/or provided in accordance with the terms of such employee benefit plans (collectively, the “Accrued Benefits”).

 (b) Termination by the Company Without Cause or by the Executive with Good Reason. During the Term, if the Executive’s
employment is terminated by the Company without Cause as provided in Section 3(d), or the Executive terminates his employment for Good Reason as provided in Section 3(e), then the Company shall pay the Executive his Accrued Benefits. In
addition, subject to the Executive signing a separation agreement containing, among other provisions, a general release of claims in favor of the Company and related persons and entities, confidentiality, return of property and non-disparagement, in
a form and manner satisfactory to the Company (the “Separation Agreement and Release”) and the Separation Agreement and Release becoming fully effective, all within the time frame set forth in the Separation Agreement and Release: 

(i) the Company shall pay the Executive an amount equal to one hundred percent (100%) of the Executive’s Base Salary
(the “Severance Amount”); and 
 (ii) if the Executive was participating in the Company’s group health plan
immediately prior to the Date of Termination and elects COBRA health continuation, then the Company shall pay to the Executive a monthly cash payment for twelve (12) months or the Executive’s COBRA health continuation period, whichever
ends earlier, in an amount equal to the monthly employer contribution that the Company would have made to provide health insurance to the Executive if the Executive had remained employed by the Company; and 

  
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 (iii) the amounts payable under this Section 4(b) shall be paid out in
substantially equal installments in accordance with the Company’s payroll practice over twelve (12) months commencing within sixty (60) days after the Date of Termination; provided, however, that if the 60-day period begins in one
(1) calendar year and ends in a second calendar year, the Severance Amount shall begin to be paid in the second calendar year by the last day of such 60-day period; provided, further, that the initial payment shall include a catch-up payment to
cover amounts retroactive to the day immediately following the Date of Termination. Each payment pursuant to this Agreement is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2). 

(iv) The receipt of any severance payments or benefits pursuant to Section 4 shall be subject to Executive not violating
the restrictive covenants referenced in Sections 7, 8 and 9 of this Agreement (the “Restrictive Covenants”). In the event Executive breaches the Restrictive Covenants, in addition to all other legal and equitable remedies, the Company
shall have the right to terminate or suspend all continuing payments and benefits to which Executive may otherwise be entitled pursuant to Section 4 without affecting the Executive’s release or Executive’s obligations under the
Separation Agreement and Release. 
 5. Change in Control Payment. The provisions of this Section 5 set forth certain terms of
an agreement reached between the Executive and the Company regarding the Executive’s rights and obligations upon the occurrence of a Change in Control of the Company. These provisions are intended to assure and encourage in advance the
Executive’s continued attention and dedication to his assigned duties and his objectivity during the pendency and after the occurrence of any such event. These provisions shall apply in lieu of, and expressly supersede, the provisions of
Section 4(b) regarding severance pay and benefits upon a termination of employment, if such termination of employment occurs within twenty-four (24) months after the occurrence of the first event constituting a Change in Control. These
provisions shall terminate and be of no further force or effect beginning twenty-four (24) months after the occurrence of a Change in Control. 

(a) Change in Control. During the Term, if within twenty-four (24) months after a Change in Control, the Executive’s
employment is terminated by the Company without Cause as provided in Section 3(d) or the Executive terminates his employment for Good Reason as provided in Section 3(e), then the Company shall pay the Executive his Accrued Benefits. In
addition, subject to the signing of the Separation Agreement and Release by the Executive and the Separation Agreement and Release becoming irrevocable, all within sixty (60) days after the Date of Termination, 

(i) the Company shall pay the Executive an amount equal to two hundred percent (200%) of the Executive’s Base Salary
(or the Executive’s Base Salary in effect immediately prior to the Change in Control, if higher); and 
 (ii)
notwithstanding anything to the contrary in any applicable option agreement or stock-based award agreement, the vesting of all stock options and other stock-based awards outstanding and held by the Executive shall immediately accelerate and become
fully vested and exercisable or nonforfeitable as of the Date of Termination; and 

  
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 (iii) if the Executive was participating in the Company’s group health plan
immediately prior to the Date of Termination and elects COBRA health continuation, then the Company shall pay to the Executive a monthly cash payment for twenty-four (24) months or the Executive’s COBRA health continuation period,
whichever ends earlier, in an amount equal to the monthly employer contribution that the Company would have made to provide health insurance to the Executive if the Executive had remained employed by the Company; and 

(iv) The amounts payable under this Section 5(a) shall be paid out in substantially equal installments in accordance with
the Company’s payroll practice over twenty-four (24) months commencing within sixty (60) days after the Date of Termination; provided, however, that if the 60-day period begins in one (1) calendar year and ends in a second
calendar year, such payment shall be paid or commence to be paid in the second calendar year by the last day of such 60-day period; provided, further, that the initial payment shall include a catch-up payment to cover amounts retroactive to the day
immediately following the Date of Termination. Each payment pursuant to this Agreement is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2). 

(b) The receipt of any severance payments or benefits pursuant to Section 5 shall be subject to Executive not violating the Restrictive
Covenants. In the event Executive breaches the Restrictive Covenants, in addition to all other legal and equitable remedies, the Company shall have the right to terminate or suspend all continuing payments and benefits to which Executive may
otherwise be entitled pursuant to Section 5 without affecting the Executive’s release or Executive’s obligations under the Separation Agreement and Release. 

(c) Additional Limitation. 

(i) Anything in this Agreement to the contrary notwithstanding, in the event that the amount of any compensation, payment or
distribution by the Company to or for the benefit of the Executive, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, calculated in a manner consistent with Section 280G of the
Internal Revenue Code of 1986, as amended (the “Code”) and the applicable regulations thereunder (the “Severance Payments”), would be subject to the excise tax imposed by Section 4999 of the Code, the following provisions
shall apply: 
 (A) If the Severance Payments, reduced by the sum of (1) the Excise Tax and (2) the total of the
federal, state, and local income and employment taxes payable by the Executive on the amount of the Severance Payments which are in excess of the Threshold Amount, are greater than or equal to the Threshold Amount, the Executive shall be entitled to
the full benefits payable under this Agreement. 
 (B) If the Threshold Amount is less than (x) the Severance Payments,
but greater than (y) the Severance Payments reduced by the sum of (1) the Excise Tax and (2) the total of the federal, state, and local income and employment taxes on the amount of the Severance Payments which are in excess of the
Threshold Amount, then the Severance Payments shall be reduced (but not below zero) to the extent necessary so that the sum of all Severance Payments shall not exceed the Threshold Amount. In such event, the Severance Payments shall be reduced in
the following order: (1) cash payments not subject to Section 409A of the Code; (2) cash payments subject to Section 409A of the Code; (3) equity-based payments and acceleration; and (4) non-cash forms of benefits. To
the extent any payment is to be made over time (e.g., in installments, etc.), then the payments shall be reduced in reverse chronological order. 

  
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 (ii) For the purposes of this Section 5(c), “Threshold Amount”
shall mean three (3) times the Executive’s “base amount” within the meaning of Section 280G(b)(3) of the Code and the regulations promulgated thereunder less one dollar ($1.00); and “Excise Tax” shall mean the
excise tax imposed by Section 4999 of the Code, and any interest or penalties incurred by the Executive with respect to such excise tax. 

(iii) The determination as to which of the alternative provisions of Section 5(c)(i) shall apply to the Executive shall be
made by a nationally recognized accounting firm selected by the Company (the “Accounting Firm”), which shall provide detailed supporting calculations both to the Company and the Executive within fifteen (15) business days of the Date
of Termination, if applicable, or at such earlier time as is reasonably requested by the Company or the Executive. For purposes of determining which of the alternative provisions of Section 5(c)(i) shall apply, the Executive shall be deemed to
pay federal income taxes at the highest marginal rate of federal income taxation applicable to individuals for the calendar year in which the determination is to be made, and state and local income taxes at the highest marginal rates of individual
taxation in the state and locality of the Executive’s residence on the Date of Termination, net of the maximum reduction in federal income taxes which could be obtained from deduction of such state and local taxes. Any determination by the
Accounting Firm shall be binding upon the Company and the Executive. 
 (d) Definitions. For purposes of this Section 5, the
following terms shall have the following meanings: 
 “Change in Control” shall mean “Sale Event,” as such term is
defined in the Company’s 2015 Stock Option and Incentive Plan. 
 (e) Acceleration of Time-Based Equity Awards. Notwithstanding
the foregoing, in the event of a Change in Control where the parties to such Change in Control do not provide for the assumption, continuation or substitution of equity awards of the Company, any and all outstanding and unvested stock options and
stock appreciation rights held by the Executive with vesting, conditions, or restrictions that are solely time-based and that are not exercisable immediately prior to the effective time of the Change in Control shall become fully

  
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exercisable as of the effective time of the Change in Control and all other outstanding and unvested equity awards (including any restricted stock awards) held by the Executive with vesting,
conditions or restrictions that are solely time-based shall become fully vested and nonforfeitable as of the effective time of the Change in Control. Except to the extent expressly agreed to in writing by the Company and the Executive, any and all
equity award agreements evidencing equity awards of the Company issued to the Executive from and after the date hereof shall be consistent with the terms of this Section 3(e), notwithstanding any provisions to the contrary contained in
any stock option, equity incentive, or similar plan in effect from and after the date hereof. 
 6. Section 409A. 

(a) Anything in this Agreement to the contrary notwithstanding, if at the time of the Executive’s separation from service within the
meaning of Section 409A of the Code, the Company determines that the Executive is a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code, then to the extent any payment or benefit that the Executive
becomes entitled to under this Agreement on account of the Executive’s separation from service would be considered deferred compensation otherwise subject to the twenty percent (20%) additional tax imposed pursuant to Section 409A(a)
of the Code as a result of the application of Section 409A(a)(2)(B)(i) of the Code, such payment shall not be payable and such benefit shall not be provided until the date that is the earlier of (A) six (6) months and one (1) day
after the Executive’s separation from service, or (B) the Executive’s death. If any such delayed cash payment is otherwise payable on an installment basis, the first payment shall include a catch-up payment covering amounts that would
otherwise have been paid during the six-month period but for the application of this provision, and the balance of the installments shall be payable in accordance with their original schedule. 

(b) All in-kind benefits provided and expenses eligible for reimbursement under this Agreement shall be provided by the Company or incurred by
the Executive during the time periods set forth in this Agreement. All reimbursements shall be paid as soon as administratively practicable, but in no event shall any reimbursement be paid after the last day of the taxable year following the taxable
year in which the expense was incurred. The amount of in-kind benefits provided or reimbursable expenses incurred in one (1) taxable year shall not affect the in-kind benefits to be provided or the expenses eligible for reimbursement in any
other taxable year (except for any lifetime or other aggregate limitation applicable to medical expenses). Such right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit. 

(c) To the extent that any payment or benefit described in this Agreement constitutes “non-qualified deferred compensation” under
Section 409A of the Code, and to the extent that such payment or benefit is payable upon the Executive’s termination of employment, then such payments or benefits shall be payable only upon the Executive’s “separation from
service.” The determination of whether and when a separation from service has occurred shall be made in accordance with the presumptions set forth in Treasury Regulation Section 1.409A-1(h). 

  
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 (d) The parties intend that this Agreement shall be administered in accordance with
Section 409A of the Code. To the extent that any provision of this Agreement is ambiguous as to its compliance with Section 409A of the Code, the provision shall be read in such a manner so that all payments hereunder comply with
Section 409A of the Code. Each payment pursuant to this Agreement is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2). The parties agree that this
Agreement may be amended, as reasonably requested by either party, and as may be necessary to fully comply with Section 409A of the Code and all related rules and regulations in order to preserve the payments and benefits provided hereunder
without additional cost to either party. 
 (e) The Company makes no representation or warranty and shall have no liability to the Executive
or any other person if any provisions of this Agreement are determined to constitute deferred compensation subject to Section 409A of the Code but do not satisfy an exemption from, or the conditions of, such Section. 

7. Nondisclosure/Confidentiality. 

(a) Confidential Information. As used in this Agreement, “Confidential Information” shall mean information belonging to the
Company or any of its affiliates or related entities, as applicable (together, the “Protected Parties” and each of them, a “Protected Party”) which is of value to any of the Protected Parties in the course of conducting its
business and the disclosure of which could result in a competitive or other disadvantage to a Protected Party. Confidential Information includes, without limitation: 

(i) the identity of any current or prospective customers, clients, suppliers or vendors; 

(ii) information relating to the business, products, affairs and finances of any of the Protected Parties; 

(iii) information relating to the manufacture, production, distribution, marketing, or sale of any product sold by any of the
Protected Parties; 
 (iv) technical data and know-how relating to the business of any of the Protected Parties; 

(v) any information relating to technology, marketing and business plans or strategies of any of the Protected Parties; 

(vi) any non-public management accounting or other similar financial information that would typically be included in the
financial statements of any of the Protected Parties, including without limitation, the amount of the assets, liabilities, net worth, revenues or net income of any of the Protected Parties; 

(vii) names and addresses of any of the customers, clients, suppliers, vendors and employees of any of the Protected Parties,
and details of any independent contractor or agency arrangements of any of the Protected Parties; 

  
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 (viii) non-public information relating to legal and professional dealings, real
property, tangible property, finances, business, and investment activities, and other personal affairs of any of the Protected Parties; 

(ix) any and all books, notes, memoranda, records, correspondence, documents, computer and other discs and tapes, data
listings, codes, designs, drawings and other documents and materials (whether made or created by the Executive or otherwise) relating to the business of any of the Protected Parties; and 

(x) any other non-public information gained in the course of the Executive’s employment with any of the Protected Parties
that could reasonably be expected to prove harmful to any of the Protected Parties if disclosed to third parties, including without limitation, any information that could be reasonably expected to aid a competitor or potential competitor of any of
the Protected Parties. 
 Notwithstanding the foregoing, Confidential Information does not include information in the public domain, unless due to breach of
the Executive’s duties under Section 7(b). 
 (b) Confidentiality. The Executive understands and agrees that the
Executive’s employment with the Company shall create a relationship of confidence and trust between the Executive and the Company with respect to all Confidential Information. At all times, both during the Executive’s employment with the
Company and after its termination, the Executive shall keep in confidence and trust all such Confidential Information, and shall not use or disclose any such Confidential Information without the written consent of the Company, except as may be
necessary in the ordinary course of performing the Executive’s duties to the Company. 
 (c) Company Property. All documents,
records, data, apparatus, equipment and other physical property, whether or not pertaining to Confidential Information, which are furnished to the Executive by the Company or any other Protected Party or are produced by the Executive in connection
with the Executive’s employment shall be and remain the sole property of the Company. The Executive shall return to the Company all such materials and property as and when requested by the Company. 

8. Noncompetition and Nonsolicitation. 

(a) During the Executive’s employment with the Company and continuing through eighteen (18) months after the Date of Termination
(the “Restricted Period”), the Executive (i) shall not, directly or indirectly, whether as owner, partner, shareholder, consultant, agent, employee, co-venturer or otherwise, engage, participate, assist or invest or actively prepare
to engage, participate, assist or invest in any Competing Business (as hereinafter defined); (ii) shall refrain from directly or indirectly employing, attempting to employ, recruiting, hiring or otherwise soliciting, inducing or influencing any
person to leave employment with any of the Protected Parties; and (iii) shall refrain from soliciting or encouraging any customer, supplier, consultant or vendor to terminate or otherwise modify adversely its business relationship with any of
the Protected Parties. The Executive understands that the restrictions set forth in this Section 8 are intended to protect the interest of each of the 

  
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Protected Parties in its Confidential Information, goodwill and established employee, customer, supplier, consultant and vendor relationships and goodwill, and agrees that such restrictions are
reasonable and appropriate for this purpose. 
 (b) For purposes of this Agreement, the term “Competing Business” shall mean
(i) any business engaged in manufacturing, producing, distributing, marketing, selling, or purchasing popcorn or popcorn-related products, (ii) any other business carried on by the Company and/or its affiliates over the course of the
Restricted Period (irrespective of whether such business is carried on by the Company and/or any of its affiliates as of the Effective Date); and (iii) any business in an active phase of development at the Company and/or any of its affiliates
over the course of the Restricted Period (irrespective of whether such business is carried on by the Company and/or any of its affiliates as of the Effective Date); provided, however, that Competing Business shall not include any business unrelated
to popcorn in which the Executive as of the Effective Date holds a passive investment interest (i.e., no involvement whatsoever in the management or operation of the business, including no involvement with or position on the board of directors of
such business). 
 (c) The restrictions in this Section 8 shall apply to any conduct in (i) the United States of America;
(ii) any geographic area in which the Company or its affiliates has sold, is then selling, or is actively planning to sell its products or services; and (iii) any other geographic area in which the Company or its affiliates has operated,
is then operating or is actively planning to operate its business. 
 9. Work Product. As used in this Agreement, the term “Work
Product” means all inventions, innovations, improvements, technical information, systems, software developments, methods, designs, analyses, drawings, reports, service marks, trademarks, trade names, logos and all similar or related information
(whether patentable or unpatentable, copyrightable, registerable as a trademark, reduced to writing, or otherwise) which relates to the Company’s or any of its affiliates’ actual or anticipated business, research and development or
existing or future products or services and which are or were conceived, developed or made by the Executive (whether or not during usual business hours, whether or not by the use of the facilities of the Company or any of its affiliates, and whether
or not alone or in conjunction with any other person) while employed by the Company together with all patent applications, letters patent, trademark, trade name and service mark applications or registrations, copyrights and reissues thereof that may
be granted for or upon any of the foregoing. All Work Product that the Executive may discover, invent or originate during the Term, shall be the exclusive property of the Company, and its affiliates, as applicable, and the Executive hereby assigns
all of the Executive’s right, title and interest in and to such Work Product to the Company or its applicable affiliate, including all intellectual property rights therein. The Executive shall promptly disclose all Work Product to the Company,
shall execute at the request of the Company any assignments or other documents the Company may deem necessary to protect or perfect its (or any of its affiliate’s, as applicable) rights therein, and shall assist the Company, at the
Company’s expense, in obtaining, defending and enforcing the Company’s (or any of its affiliate’s, as applicable) rights therein. The Executive hereby appoints the Company as his attorney-in-fact to execute on his behalf any
assignments or other documents deemed necessary by the Company to protect or perfect the Company’s (and any of its affiliate’s, as applicable) rights to any Work Product. 

  
 12 

 10. Third-Party Agreements and Rights. The Executive represents to the Company that the
Executive’s execution of this Agreement, the Executive’s employment with the Company and the performance of the Executive’s duties for the Company as contemplated under this Agreement shall not violate any obligations the Executive
may have to any previous employer or other party. In the Executive’s work for the Company, the Executive shall not disclose or make use of any information in violation of any agreements with or rights of any such previous employer or other
party, and the Executive shall not bring to the premises of the Company any copies or other tangible embodiments of non-public information belonging to or obtained from any such previous employment or other party. 

11. Litigation and Regulatory Cooperation. During and after the Executive’s employment, the Executive shall cooperate fully with
the Company in the defense or prosecution of any claims or actions now in existence or which may be brought in the future against or on behalf of the Company which relate to events or occurrences that transpired while the Executive was employed by
the Company. The Executive’s full cooperation in connection with such claims or actions shall include, but not be limited to, being available to meet with counsel to prepare for discovery or trial and to act as a witness on behalf of the
Company at mutually convenient times. During and after the Executive’s employment, the Executive also shall cooperate fully with the Company in connection with any investigation or review of any federal, state or local regulatory authority as
any such investigation or review relates to events or occurrences that transpired while the Executive was employed by the Company. The Company shall reimburse the Executive for any reasonable out-of-pocket expenses incurred in connection with the Executive’s performance of obligations pursuant to this Section 11. 

12. Remedies. The Executive acknowledges that the restrictions contained in this Agreement are reasonable and necessary to protect the
Company’s legitimate business interests and that any violation of the provisions contained herein would result in irreparable injury to the Company and that monetary damages may not be sufficient to compensate the Company for any economic loss
which may be incurred by reason of breach of the restrictions contained herein. In the event of a breach or a threatened breach by the Executive of any provision contained herein, the Company shall be entitled to a temporary restraining order and
injunctive relief restraining the Executive from the commission of any breach, shall not be required to provide any bond or other security in connection with obtaining any such equitable remedy and shall be entitled to recover the Company’s
reasonable attorneys’ fees, costs and expenses related to the breach or threatened breach. Nothing contained in this Section 12 shall be construed as prohibiting the Company from pursuing any other remedies available to it for any breach
or threatened breach, including, without limitation, the recovery of money damages. 
 13. Consent to Jurisdiction. The parties
hereby consent to the jurisdiction of the federal and state courts located in Travis County, Texas with respect to all matters rising under this Agreement. Accordingly, with respect to any such court action, the Executive (a) submits to the
personal jurisdiction of such courts; (b) consents to service of process; and (c) waives any other requirement (whether imposed by statute, rule of court, or otherwise) with respect to personal jurisdiction or service of process. 

  
 13 

 14. Integration. This Agreement constitutes the entire agreement between the parties with
respect to the subject matter hereof and supersedes all prior agreements between the parties concerning such subject matter. 
 15.
Withholding. All payments made by the Company to the Executive under this Agreement shall be net of any tax or other amounts required to be withheld by the Company under applicable law. 

16. Successor to the Executive. This Agreement shall inure to the benefit of and be enforceable by the Executive’s personal
representatives, executors, administrators, heirs, distributees, devisees and legatees. In the event of the Executive’s death after his termination of employment but prior to the completion by the Company of all payments due him under this
Agreement, the Company shall continue such payments to the Executive’s beneficiary designated in writing to the Company prior to his death (or to his estate, if the Executive fails to make such designation). 

17. Enforceability. If any portion or provision of this Agreement (including, without limitation, any portion or provision of any
section of this Agreement) shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder of this Agreement, or the application of such portion or provision in circumstances other than those as to
which it is so declared illegal or unenforceable, shall not be affected thereby, and each portion and provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law. 

18. Survival. The provisions of this Agreement shall survive the termination of this Agreement and/or the termination of the
Executive’s employment to the extent necessary to effectuate the terms contained herein. 
 19. Waiver. No waiver of any
provision hereof shall be effective unless made in writing and signed by the waiving party. The failure of any party to require the performance of any term or obligation of this Agreement, or the waiver by any party of any breach of this Agreement,
shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any subsequent breach. 
 20.
Notices. Any notices, requests, demands and other communications provided for by this Agreement shall be sufficient if in writing and delivered in person or sent by a nationally recognized overnight courier service or by registered or
certified mail, postage prepaid, return receipt requested, to the Executive at the last address the Executive has filed in writing with the Company or, in the case of the Company, at its main offices, attention of the Board. 

21. Amendment. This Agreement may be amended or modified only by a written instrument signed by the Executive and by a duly authorized
representative of the Company. 
 22. Governing Law. This is a Texas contract and shall be construed under and be governed in all
respects by the laws of the State of Texas, without giving effect to the conflict of laws principles of such State. 

  
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 23. Counterparts. This Agreement may be executed in any number of counterparts, each of
which when so executed and delivered shall be taken to be an original; but such counterparts shall together constitute one and the same document. 

24. Successor to Company. The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation or
otherwise) to all or substantially all of the business or assets of the Company expressly to assume and agree to perform this Agreement to the same extent that the Company would be required to perform it if no succession had taken place. Failure of
the Company to obtain an assumption of this Agreement at or prior to the effectiveness of any succession shall be a material breach of this Agreement. 

25. Gender Neutral. Wherever used herein, a pronoun in the masculine gender shall be considered as including the feminine gender unless
the context clearly indicates otherwise. 

  
 15 

 IN WITNESS WHEREOF, the parties have executed this Agreement effective on the date and year first
above written. 
  

			
	Amplify Snack Brands, Inc.
		
	By:		  

	Its:Exhibit 10.1

 

SIGMA DESIGNS, INC.

 

EXECUTIVE SEVERANCE AGREEMENT

 

This Executive Severance Agreement (this “Agreement”), is made and entered into effective as of _______ (the “Effective Date”), by and between _______ (the “Executive”) and Sigma Designs, Inc., a California corporation (the “Company”). Certain capitalized terms used in this Agreement are defined in Section 1 below.

 

RECITALS

 

A. The Compensation Committee (the “Committee”) of the Board of Directors of the Company (the “Board”) believes that the best interests of the Company and its shareholders will be served if the Executive is entitled to a severance benefit in the event Executive is subject to an involuntary termination and without cause.

 

B. The Committee also believes that in the event of a corporate transaction involving the Company it is in the best interests of the Company and its shareholders to provide Executive with an incentive to continue Executive’s employment without distraction and to maximize the value of the Company for the benefit of its shareholders.

 

AGREEMENT

 

In consideration of the mutual covenants herein contained and the continued employment of Executive by the Company, the parties agree as follows:

 

1.                  Definition of Terms. The following terms referred to in this Agreement shall have the following meanings:

 

(a)                Cause. “Cause” shall mean (i) commission of a felony, an act involving moral turpitude, or an act constituting common law fraud, and which has a material adverse effect on the business or affairs of the Company or its affiliates or shareholders; (ii) intentional or willful misconduct or refusal to follow the lawful instructions of the Board; or (iii) intentional breach of Company confidential information obligations which has an adverse effect on the Company or its affiliates or shareholders. For these purposes, no act or failure to act shall be considered “intentional or willful” unless it is done, or omitted to be done, in bad faith without a reasonable belief that the action or omission is in the best interests of the Company, and no event under clause (ii) which is capable of being cured shall constitute Cause unless the Executive shall have failed to cure such event within thirty (30) days of receipt of written notice from the Company describing the nature of such event.

 

(b)               Change of Control. “Change of Control” shall mean the occurrence of any of the following events:

 

(i)                 the closing of a sale by the Company of all or substantially all of the Company’s assets;

 

 

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(ii)               a merger or consolidation of the Company with any other corporation, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent directly or indirectly (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation; or

 

(iii)             any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended) becoming the “beneficial owner” (as defined in Rule 13d-3 under said Act), directly or indirectly, of securities of the Company representing thirty percent (30%) or more of the total voting power represented by the Company’s then outstanding voting securities.

 

Notwithstanding the foregoing, the term “Change of Control” shall not be deemed to have occurred if the Company files for bankruptcy protection, or if a petition for involuntary relief is filed against the Company.

 

(c)                Involuntary Termination. “Involuntary Termination” shall mean:

 

(i)                 without Executive’s express written consent, a material reduction in Executive’s authority, duties or responsibilities relative to Executive’s authority, duties or responsibilities prior to such reduction; provided, however, that for this purpose, Executive’s authority, duties or responsibilities will not be deemed to be materially reduced if following a Change of Control where the Company becomes part of another business, the Executive’s functional authority, duties, and responsibilities on a subsidiary or divisional level are similar to those before the Change in Control;

 

(ii)               without Executive’s express written consent, a material reduction by the Company of Executive’s base compensation;

 

(iii)             without Executive’s express written consent, the relocation of Executive’s principal place of employment to a facility or a location more than thirty (30) miles from Executive’s current location;

 

(iv)             any termination of Executive by the Company which is not effected for Cause; or

 

(v)               the failure of the Company to obtain the assumption of this Agreement or any other agreement between the Company and Executive by any successors contemplated in Section 7 below.

 

A termination shall not be considered an “Involuntary Termination” unless Executive provides notice to the Company of the existence of the condition described in subsections (i), (ii) or (iii), or (v) above within ninety (90) days of the initial existence of such condition, and the Company fails to remedy the condition within thirty (30) days following the receipt of such notice. A termination due to death or disability shall not be considered an Involuntary Termination.

 

 

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(d)               Termination Date. “Termination Date” shall mean Executive’s “separation from service” within the meaning of that term under Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”).

 

2.                  At-Will Employment. The Company and Executive acknowledge that Executive’s employment is and shall continue to be at-will, as defined under applicable law.

 

3.                  Severance Benefits.

 

(a)                Involuntary Termination. If Executive’s employment with the Company terminates as a result of an Involuntary Termination and Executive signs and does not revoke a standard release of claims with the Company in a form reasonably acceptable to the Company (the “Release”) which becomes effective and irrevocable no later than the 60th day after the Termination Date, then Executive shall be entitled to the following severance benefits:

 

(i)                 An amount equal to ______ months of Executive’s annual base salary as in effect as of the Termination Date (prior to any reduction that constitutes grounds for Involuntary Termination), less applicable withholding, payable in a lump sum on the 60th day following the Termination Date or with respect to any portion of the Severance Benefit which constitutes nonqualified deferred compensation under Section 409A of the Code the date provided in Section 6 (the appropriate payment date being the “Applicable Payment Date”) below. For purposes of this subsection (i), annual base salary shall be deemed to include (A) any commission payments received by Executive during the twelve (12) month period ending on the Termination Date) and (B) __% of the amount of Executive’s full target bonus for the fiscal year in which Involuntary Termination occurs; and

 

(ii)               If Executive elects continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985 (as amended, “COBRA”), Company will reimburse Executive, or pay directly on Executive’s behalf an amount equal to the estimated group health continuation coverage premiums that would be charged for Executive and Executive’s eligible dependents under COBRA, determined as of the Termination Date, for coverage over a period equal to _______ months from the Termination Date, less applicable withholding, payable in a lump sum on the Applicable Payment Date; and

 

(iii) __________ percent (__%) acceleration of the vesting and exercisability or payment of all of Executive’s outstanding equity awards with respect to the common stock of the Company to the extent outstanding (provided that payment shall be made in compliance with Section 409A of the Code).

 

(b)               Involuntary Termination in Connection with a Change in Control. If the Executive’s employment with the company terminates as a result of an Involuntary Termination on or within eighteen (18) months following a Change in Control then in addition to the Severance Benefits under Section 4(a), and conditioned on Executive providing the Release under Section 4(a), Executive shall receive (i) an additional ___________months of base salary and COBRA premiums, payable as provided in Section 4(a), and (ii) one hundred percent (100%) acceleration of the vesting and exercisability or payment of all of Executive’s outstanding equity awards with respect to the common stock of the Company or its successor, or the parent of either, to the extent outstanding, or of any deferred compensation into which Executive’s equity awards were converted upon the Change of Control (provided that payment shall be made in compliance with Section 409A of the Code). For purposes of this subsection (b), annual base salary shall be deemed to include (A) any commission payments received by Executive during the twelve (12) month period ending on the Termination Date) and (B) __% of the amount of Executive’s full target bonus for the fiscal year in which Involuntary Termination occurs.

 

 

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(c)                Accrued Wages and Vacation; Expenses. In addition to the severance benefits provided under Section 4(a) and/or 4(b) above: (i) the Company shall pay Executive any unpaid wages due for periods prior to the Termination Date; (ii) the Company shall pay Executive all of Executive’s accrued and unused vacation through the Termination Date; and (iii) following submission of proper expense reports by Executive, the Company shall reimburse Executive for all expenses reasonably and necessarily incurred by Executive in connection with the business of the Company prior to the Termination Date. These payments shall be made promptly upon termination and within the period of time mandated by law.

 

4.                  Limitation on Payments. In the event that the severance and other benefits provided for in this Agreement or otherwise payable to Executive (i) constitute “parachute payments” within the meaning of Section 280G of the Code and (ii) would be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then Executive’s benefits under this Agreement shall be either:

 

(a)                delivered in full or

 

(b)               delivered as to such lesser extent which would result in no portion of such benefits being subject to the Excise Tax,

 

whichever of the foregoing amounts, taking into account the applicable federal, state and local income taxes and the Excise Tax, results in the receipt by Executive on an after-tax basis, of the greatest amount of benefits, notwithstanding that all or some portion of such benefits may be taxable under Section 4999 of the Code.

 

Unless the Company and Executive otherwise agree in writing, any determination required under this Section 5 shall be made in writing by the Company’s independent public accountants (the “Accountants”), whose determination shall be conclusive and binding upon Executive and the Company for all purposes. For purposes of making the calculations required by this Section 5, the Accountants may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the Code. The Company and Executive shall furnish to the Accountants such information and documents as the Accountants may reasonably request in order to make a determination under this Section 5. The Company shall bear all costs the Accountants may reasonably incur in connection with any calculations contemplated by this Section 5. In the event that a reduction is required, the reduction shall be applied beginning with benefits which have the lowest present value to the Executive.

 

 

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5.                  Section 409A; Delayed Commencement of Benefits. The parties intend that this Agreement shall be interpreted to comply with or be exempt from Section 409A of the Code, and the regulations and guidance promulgated thereunder to the extent applicable (collectively “Code Section 409A”), and all provisions of this Agreement shall be construed in a manner consistent with the requirements for avoiding taxes or penalties under Code Section 409A. If Executive is deemed to be a “specified employee” within the meaning of that term under Code Section 409A(a)(2)(B on the Termination Date, then with regard to any payment or the provision of any benefit that is considered nonqualified deferred compensation under Code Section 409A payable on account of Executive’s “separation from service” within the meaning of Code Section 409A, such payment or benefit shall be made or provided at the date which is the earlier of (i) the expiration of the six (6)-month period measured from the Termination Date, and (ii) the date of Executive’s death (the “Delay Period”).  Upon the expiration of the Delay Period, all payments and benefits delayed pursuant to this Section 6 (whether they would have otherwise been payable in a single sum or in installments in the absence of such delay) shall be paid or reimbursed on the first business day following the expiration of the Delay Period to Executive in a lump sum with interest during the Delay Period at the prime rate, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. For purposes of Code Section 409A, Executive’s right to receive any installment payments pursuant to this Agreement shall be treated as a right to receive a series of separate and distinct payments.

 

6.                  Successors.

 

(a)                Company’s Successors. Any successor to the Company (whether direct or indirect and whether by purchase, lease, merger, consolidation, liquidation or otherwise) to all or substantially all of the Company’s business and/or assets shall assume the Company’s obligations under this Agreement and agree expressly to perform the Company’s obligations under this Agreement in the same manner and to the same extent as the Company would be required to perform such obligations in the absence of a succession. For all purposes under this Agreement, the term “Company” shall include any successor to the Company’s business and/or assets which executes and delivers the assumption agreement described in this subsection (a) or which become bound by the terms of this Agreement by operation of law.

 

(b)               Executive’s Successors. Executive shall not assign or transfer this Agreement or any right or obligation under this Agreement to any other person or entity. Notwithstanding the foregoing, the terms of this Agreement and all rights of Executive hereunder shall inure to the benefit of, and be enforceable by, Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees.

 

7.                  Notices.

 

(a)                General. Notices and all other communications contemplated by this Agreement shall be in writing and shall be deemed to have been duly given when personally delivered or when mailed by U.S. registered or certified mail, return receipt requested and postage prepaid. In the case of Executive, mailed notices shall be addressed to Executive at the home address which Executive most recently communicated to the Company in writing. In the case of the Company, mailed notices shall be addressed to its corporate headquarters, and all notices shall be directed to the attention of its Secretary.

 

 

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(b)               Notice of Termination. Any termination by the Company for Cause or by Executive as a result of an Involuntary Termination shall be communicated by a notice of termination to the other party hereto given in accordance with this Section 8. Such notice shall indicate the specific termination provision in this Agreement relied upon, shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination under the provision so indicated, and shall specify the Termination Date (which shall be not more than thirty (30) days after the giving of such notice). The failure by Executive to include in the notice any fact or circumstance which contributes to a showing of Involuntary Termination shall not waive any right of Executive hereunder or preclude Executive from asserting such fact or circumstance in enforcing Executive’s rights hereunder, subject to the requirements of Section 1(c).

 

8.                  Arbitration.

 

Any controversy involving the construction or application of any terms, covenants or conditions of this Agreement, or any claims arising out of any alleged breach of this Agreement, will be governed by the rules of the American Arbitration Association and submitted to and settled by final and binding arbitration in Santa Clara County, California, except that any alleged breach of Executive’s confidential information obligations shall not be submitted to arbitration and instead the Company may seek all legal and equitable remedies, including without limitation, injunctive relief.

 

9.                  Miscellaneous Provisions.

 

(a)                No Duty to Mitigate. Executive shall not be required to mitigate the amount of any payment contemplated by this Agreement, nor shall any such payment be reduced by any earnings that Executive may receive from any other source.

 

(b)               Waiver. No provision of this Agreement may be modified, waived or discharged unless the modification, waiver or discharge is agreed to in writing and signed by Executive and by an authorized officer of the Company (other than Executive). No waiver by either party of any breach of, or of compliance with, any condition or provision of this Agreement by the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time.

 

(c)                Integration. This Agreement represents the entire agreement and understanding between the parties with respect to the subject matter hereof, and supersedes all prior or contemporaneous agreements, whether written or oral, with respect thereto, including, without limitation.

 

 

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(d)               Choice of Law. The validity, interpretation, construction and performance of this Agreement shall be governed by the internal substantive laws, but not the conflicts of law rules, of the State of California.

 

(e)                Severability. The invalidity or unenforceability of any provision or provisions of this Agreement shall not affect the validity or enforceability of any other provision hereof, which shall remain in full force and effect.

 

(f)                Employment Taxes. All payments made pursuant to this Agreement shall be subject to withholding of applicable income and employment taxes.

 

(g)               Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together will constitute one and the same instrument.

 

 

 

* * *

 

[Remainder of this page intentionally left blank.]

 

 

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IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company by its duly authorized officer or member of the Board of Directors, as of the day and year first above written.

 

	
 

COMPANY:

 
	
 

SIGMA DESIGNS, INC.

 

By:                                                                                   

 

Title:                                                                                

 

Date: _________________________________

 

	 	
 

 

 

	EXECUTIVE:	
______________________________________ 

Signature

 

______________________________________
Printed Name

 

Date: _________________________________

 

 

 

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