Document:

EX-10.1

 Exhibit 10.1 
  

 
 AGREEMENT 
 This Agreement (“Agreement”) is hereby made and entered into by and between Bradford J. Davidson (“Employee”) and Kellogg Company, a Delaware corporation (“Kellogg”).

 1. Employee’s Last Day of Active Employment and Departure Date of October 1, 2013. Except as otherwise expressly
provided in this Agreement, Employee acknowledges that as of the Departure Date, the Employee’s participation will cease in all of the benefit plans of Kellogg and any of its subsidiaries, divisions or affiliates (collectively, the
“Company”). Employee will be entitled to receive benefits, including any right to exercise any conversion privileges, that are vested and accrued prior to the Departure Date pursuant to the terms and conditions of the Company’s
benefit plans and programs. 
 2. Consideration. In consideration for Employee entering into this Agreement and fully abiding by
its terms, and assuming Employee has not revoked this Agreement as described in Paragraph 20 below, Kellogg agrees to provide Employee with the following consideration: 

(a). Kellogg agrees to provide Employee compensation and benefits pursuant to the terms and conditions of the Kellogg Company
Severance Benefit Plan, as amended from time to time (the “Plan”), a copy of which is attached to this Agreement as Exhibit A, and the terms of which are incorporated into this Agreement. Employee represents and warrants that Employee has
read the Plan and understands its meaning and application. For purposes of the Plan, the parties agree that Employee shall receive the benefits for a Senior Executive who is a Direct Report of the CEO. The payments shall be made over a two-year
period in equal bi-weekly installments (the “Leave of Absence”). Employee acknowledges and agrees that: 
 (i).
Usual and customary withholding for tax purposes will be withheld from any payments made to Employee pursuant to this Agreement, to the extent required by law, and 

(ii). All tax liability, with respect to any and all payments or services received by Employee under this Agreement (other than
employer withholding and employer payroll taxes) will be Employee’s responsibility. 
 (b). Employee will be eligible
to retire from the Company under the Kellogg Company Pension Plan and the Kellogg Company Excess Plan (the “Pension Plans”) subject to the terms of the pension plans and in accordance with this paragraph, at the end of the Leave of
Absence, and if employee elects to retire, employee shall otherwise be eligible to receive retirement benefits which are provided at that time to salaried retirees of Kellogg Company in accordance with the terms of the benefit plans. This pension
benefit would be payable from the Excess Plan. 
 3. No Other Compensation or Benefits Owing. Employee acknowledges and agrees
that, except as otherwise expressly provided in this Agreement, Employee is not and will 
  
 Kellogg Company / Corporate Headquarters 
 One Kellogg Square / P.O. Box 3599 / Battle Creek, Michigan
49016-3599 (269) 961-2000 

 
not be due any other compensation or benefits whatsoever from the Company and the Company will have no further obligations of any kind or nature to Employee. For avoidance of doubt, employee
hereby releases, waives, and forfeits, any and all right, title and interest in and to any payments under (a) the 2012-2014 and 2013-2015 Executive Performance Plans, (b) any unvested restricted stock award, or (c) the 2013 Annual
Incentive Plan (or any other Incentive or bonus plan). 
 4. No Other Representations. Employee represents and warrants that no
promise or inducement has been offered or made except as set forth and that Employee is entering into and executing this Agreement without reliance on any statement or representation not set forth within this Agreement by the Company, or any
person(s) acting on its behalf. 
 5. Non-Assignment of Rights. Employee represents and warrants that Employee has not sold,
assigned, transferred, conveyed or otherwise disposed of to any third party, by operation of law or otherwise, any action, cause of action, debt, obligation, contract, agreement, covenant, guarantee, judgment, damage, claim, counterclaim, liability
or demand of any nature whatsoever relating to any matter covered in this Agreement. 
 6. Non-Compete. In further consideration of
the foregoing, Employee agrees that, for a period of two years beginning with the date of this Agreement (the “Restricted Period”), Employee shall not: 

(a). Directly or indirectly, accept any employment, consult for or with, or otherwise provide or perform any services of any nature
to, for or on behalf of (x) General Mills, Nestlé, ConAgra, Post, Mondelez, Diamond Foods, Malt-O-Meal, Campbell’s, PepsiCo, Kraft, Hershey or Snyder’s-Lance, or any successor to any such company, or (y) any person, firm,
partnership, corporation or other business or entity that sells any of the Products (as defined below) in the Geographic Area (as defined below) and any retailer that sells a private label version of any of our Products in the Geographic Area.

 (b). Directly or indirectly, permit any business, entity or organization which Employee, individually or jointly with
others, owns, manages, operates, or controls, to engage in the manufacture, production, distribution, sale or marketing of any of the Products in the Geographic Area. 
 For purposes of this Paragraph, the term “Products” mean ready-to-eat cereal products, toaster pastries, cereal bars, granola bars, frozen waffles, frozen pancakes, crispy marshmallow, crispy marshmallow
squares, cookies, crackers, salty snacks, any other grain-based convenience food, or meat substitutes or potato-based products; the term “Geographic Area” means any country in the world where the Company manufactures, produces,
distributes, sells or markets any of the Products at any time during the applicable Restricted Period. 
 7. Non-Solicitation. In
further consideration of the foregoing, Employee agrees that, for a period of two years beginning with the date of this Agreement, Employee will not, without the prior written consent of the General Counsel of Kellogg; 

  

					
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 (a). Directly or indirectly employ, or solicit the employment of (whether as an
employee, officer, director, agent, consultant or independent contractor) any person who is or was at any time during the previous year an officer, director, representative, agent or employee of the Company. 

(b). Encourage any employee of Kellogg to terminate employment with Kellogg; or 

(c). Directly or indirectly solicit, divert or take away, or attempt to solicit, divert or take away, any customers, business or
suppliers of Kellogg upon whom Employee called, serviced, or solicited, or with whom Employee became acquainted as a result of Employee’s employment with Kellogg. 
 8. Non-Disparagement of the Company. Employee agrees not to engage in any form of conduct or make any statements or representations that, directly or indirectly, disparage, portray in a negative light, are
retaliatory against, or otherwise impair the reputation, goodwill or commercial interests of the Company, or its past, present and future subsidiaries, divisions, affiliates, successors, officers, directors, attorneys, contacts, agents and/or
employees. Employee also agrees that he will not solicit anyone to engage in the conduct above on his behalf. 
 9. Employment
Status. Employee understands and agrees that Employee’s active employment with the Company ends effective October 1, 2013 (“the Departure Date”); and, the Company has no obligation to reinstate, rehire, reemploy, recall, or
hire Employee in the future. 
 10. Disclosure of Information. As of the date Employee signs this Agreement, Employee represents
and warrants that Employee has disclosed to Kellogg any information in Employee’s possession concerning any conduct involving the Company or any of its officers, directors, representatives, agents or employees that Employee has any reason to
believe may be unlawful, or violates Company policy or would otherwise reflect poorly on the Company in any respect. 
 11. Return of
Property. Employee agrees to return to the Company, no later than the Departure Date, all property of the Company, regardless of the type or medium (i.e., computer disk, CD-ROM) upon which it is maintained, including, but not limited to, all
files, documents, correspondence, memoranda, customer and client lists, prospect lists, subscription lists, contracts, pricing policies, operational methods, marketing plans or strategies, product development techniques or plans, business
acquisition plans, employee records, technical processes, designs and design projects, inventions, research project presentations, proposals, quotations, data, notes, records, photographic slides, photographs, posters, manuals, brochures, internal
publications, books, films, drawings, videos, sketches, plans, outlines, computer disks, computer files, work plans, specifications, credit cards, keys (including elevator, pass, building and door keys), identification cards, and any other
documents, writings and materials that Employee came to possess or otherwise acquired as a result of and/or in connection with Employee’s employment with the Company. If Employee later finds any Company property in Employee’s possession,
Employee agrees to immediately return it. Employee further agrees not to maintain any copies of said property or make any copies of said property available to any third-party. 

  

					
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 12. Non-Admission of Liability. Employee understands and agrees that this Agreement does not
and will not be deemed or construed as an admission of liability or responsibility by the Company for any purpose. Employee further agrees that nothing contained in this Agreement can be used by Employee or any other past, present or future employee
of the Company in any way as precedent for future dealings with the Company or any of its successors, officers, directors, attorneys, representatives, agents or employees. 
 13. Releases, Representations and Covenants. In consideration of the compensation and benefits provided pursuant to this Agreement, the sufficiency of which Employee expressly acknowledges, to the maximum
extent permitted by law, Employee, for Employee and for any person who may claim by or through Employee, irrevocably (except with respect to Paragraph 20 below) and unconditionally releases, waives and forever discharges the Company and its past,
present and future subsidiaries, divisions, affiliates, successors, and their respective officers, directors, attorneys, agents and employees, from any and all legally waivable claims or causes of action that Employee had, has or may have, known or
unknown, relating to Employee’s employment with and/or termination from the Company up until the date of this Agreement, including but not limited to, any claims arising under Title VII of the Civil Rights Act of 1964, as amended,
Section 1981 of the Civil Rights Act of 1866, as amended, the Civil Rights Act of 1991, as amended, the Family and Medical Leave Act of 1993, as amended, the Age Discrimination in Employment Act, as amended by the Older Workers Benefit
Protection Act of 1990, the Americans with Disabilities Act of 1990, as amended, the Employee Retirement Income Security Act of 1974; as amended, claims under any other federal, state or local statute, regulation or ordinance; claims for
discrimination or harassment of any kind, breach of contract or public policy, wrongful or retaliatory discharge, defamation or other personal or business injury of any kind; claims of representation, misrepresentation, or negligent representation,
and any and all other claims to any form of legal or equitable relief, damages, compensation or benefits (except as set forth in subparagraph (c), below), or for attorneys’ fees or costs. Employee additionally waives and releases any right
Employee may have to recover in any lawsuit or proceeding against the Company brought by Employee, an administrative agency, or any other person on Employee’s behalf or which includes Employee in any class. 

(a). No Representation by Kellogg. Employee acknowledges that no Kellogg employee, including any attorney or human resource
representative, has provided advice or counsel to Employee regarding the circumstances surrounding Employee’s separation from employment with Kellogg, including the negotiation of any term or provision set forth in this Agreement. Employee
acknowledges that Employee’s decision to execute this Agreement is without reliance upon any statements made by any employee or representative of Kellogg. 
 (b). No Pending Claims/Withdrawal of Claims. Employee represents and warrants that, as of the date Employee signs this Agreement, Employee has no charges, claims or lawsuits of any kind pending against the
Company or any of its past, present and future subsidiaries, divisions, affiliates, successors, or their respective officers, directors, attorneys, agents and employees that would fall within the scope of the

  

					
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Release set forth in this Paragraph 13. To the extent that Employee has such pending charges, claims or lawsuits as of the date Employee signs this Agreement, Employee agrees to seek and obtain
immediate dismissal with prejudice and provide written confirmation immediately (i.e., court order, and/or agency determination) as a condition precedent to the Kellogg’s obligations under this Agreement on and after the date Employee signs
this Agreement (including, but not limited to, providing any compensation or benefits under this Agreement). 
 (c).
Remedies for Breach. If Employee breaches any portion of this Agreement, or disavows any portion of the release given above, Employee acknowledges and agrees that, in addition to any damages, Employee will be obligated, to the maximum extent
permitted by law, to reimburse Kellogg for all amounts paid to Employee pursuant to this Agreement, under the Plan, and any Pension Plans, and Employee will be liable for all expenses, including costs and reasonable attorney’s fees, incurred by
any entity released in defending the lawsuit or claim, regardless of the outcome. Employee also agrees and acknowledges that if he or she breaches this Agreement, because it would be impractical and excessively difficult to determine the actual
damages to the Company as a result of such breach, any remedies at law (such as a right to monetary damages) would be inadequate. Employee, therefore agrees that, if he or she breaches this Agreement, the Company will have the right (in addition to,
and not in lieu of, any other right or remedy available to it) to a temporary and permanent injunctive relief from a court of competent jurisdiction, without posting any bond or other security and without proof of actual damage. 

(d). Exclusion for Certain Claims. Notwithstanding the foregoing, Kellogg and Employee agree that the release given above
will not apply to instituting any action to enforce the terms of this Agreement. In addition, Employee and Kellogg agree that nothing in this Agreement will be construed to prevent Employee from enforcing any rights Employee may have under the
Employee Retirement Income Security Act of 1974 to recover any vested benefits. 
 14. Preservation of Company Confidential
Information. Employee acknowledges and agrees that previously executed Company confidentiality or non-disclosure agreements, if any, will continue to remain in effect after the Departure Date. In addition, Employee agrees that he will not
(without first obtaining the prior written consent in each instance from Kellogg) during the term of this Agreement or thereafter, disclose, make commercial or other use of, give or sell to any person, firm or corporation, any information received
directly or indirectly from the Company or acquired or developed in the course of Employee’s employment, including, by way of example only, trade secrets (including organizational charts, reporting relationships, employee information such as
credentials, individual performance, skill sets, salaries and background information), ideas, inventions, methods, designs, formulas, systems, improvements, prices, discounts, business affairs, products, product specifications, manufacturing
processes, data and know-how and technical information of any kind whatsoever unless such information has been publicly disclosed by authorized officials of the Company. 

  

					
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 15. Confidentiality of Agreement. Employee agrees that the nature, discussions involving, and
background to this Agreement are confidential and will be kept and treated by Employee as strictly confidential. Employee agrees that these matters and the terms, existence and any related information will not be reviewed or discussed with, or
disclosed to, any third party except for Employee’s spouse, tax or legal advisor(s), provided such parties agree to keep such information confidential and, in the case of disclosure to any such advisor(s), only to the extent necessary to
perform services, or except as disclosure of such matters may be required by law. Employee agrees to assume responsibility for any disclosure of the existence or terms of this Agreement by such third parties. Any review, discussion or disclosure in
violation of this paragraph will be deemed a breach of this Agreement by Employee. 
 16. Cooperation. Employee agrees to cooperate
truthfully and fully with the Company in connection with any and all existing or future investigations or litigation of any nature brought by or against the Company involving events that occurred during Employee’s employment with the Company.
Employee agrees to notify the Company immediately if subpoenaed or asked to appear as a witness in any matter related to the Company. The Company will reimburse Employee for reasonable out-of-pocket expenses and, if approved in advance by the
General Counsel of Kellogg, reasonable attorney’s fees incurred as a result of such cooperation. 
 17. General. 

(a). Severability. If any provision of this Agreement is found by a court of competent jurisdiction to be unenforceable, in
whole or in part, then that provision will be eliminated, modified or restricted in whatever manner is necessary to make the remaining provisions enforceable to the maximum extent allowable by law. 

(b). Successors. This Agreement will be binding upon, enforceable by, and inure to the benefit of Employee and Kellogg, and
Employee’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees, and to any successor or assignee of Kellogg, but neither this Agreement, nor any rights, payments, or obligations
arising hereunder may be assigned, pledged, transferred, or hypothecated by Employee. 
 (c). Controlling Law and
Venue. Employee agrees that the laws of the State of Michigan will govern this Agreement. Employee also agrees that any controversy, claim or dispute between the parties, directly or indirectly, concerning this Agreement or the breach of this
Agreement will only be resolved in the Circuit Court of Calhoun County, or the United States District Court for the Western District of Michigan, whichever court has jurisdiction over the subject matter thereof, and the parties hereby submit to the
jurisdiction of said courts. 
 (d). Waiver. Neither party to this Agreement can discharge or waive any claim or
right arising out of a breach or default under this Agreement unless the waiver or discharge is in writing and is signed by the party that will be bound by the waiver. A waiver by either party to this Agreement of a breach or default by the other

  

					
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party of any provision of this Agreement will not be deemed a waiver of future compliance with that provision and that provision will remain in full force and effect. 

(e). Notices. All notices, requests, demands and other communications regarding this Agreement must be in writing and
delivered in person or sent by registered or certified mail, postage prepaid, return receipt requested, and properly addressed as follows: 
  

			
	 To Kellogg:
	  	Kellogg Company
		  	One Kellogg Square
		  	P.O. Box 3599
		  	Battle Creek, MI 49016
		
		  	Attention: General Counsel
		
		  	With a copy to:
		
		  	Kellogg Company
		  	One Kellogg Square
		  	P.O. Box 3599
		  	Battle Creek, MI 49016
		
		  	Attention: Chief Counsel, Employment and Labor

 To Employee: At the address agreed to by the parties in writing. 

(f). Notwithstanding the waiver and releases contained in this Agreement, Employee and Kellogg agree that nothing in this Agreement
is intended to prevent or inhibit Employee from filing a charge or a complaint with a government agency or otherwise participating in or assisting a government investigation. 

(g). Any payment otherwise payable under the Severance Benefit Plan during the period beginning on the departure date and ending six
months after such date (the “Six Month Period”) that would cause the total amount of payments made during the Six-Month Period to exceed the dollar limit contained in Treasury Regulation §1.409A-1(b)(9)(iii) shall not be paid until
the Six Month Period has expired. The total amount of any suspended payments shall be paid in a lump sum in the first payroll period ending after the Six Month period expires. No interest shall be paid on any suspended payments. The
parties acknowledge that the delay in these payments is intended solely to comply with the requirements of Internal Revenue Code Section 409A and shall be interpreted to comply with those requirements.

18. Entire Agreement/Amendment. Employee agrees that this Agreement, including any Exhibits attached to this document, constitutes the
entire agreement between Employee and Kellogg, and that this Agreement supersedes any and all prior and/or contemporaneous written and/or oral agreements relating to Employee’s employment with the Company and separation from the Company.
Employee acknowledges that this Agreement may not be modified except by written document, signed by Employee and the General Counsel of Kellogg. 

  

					
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 19. Knowing and Voluntary Action. Employee acknowledges that Employee has been advised to
consult an attorney before signing this Agreement. Employee further acknowledges that Employee has read this Agreement and any Exhibits attached to this Agreement; has been given a period of at least 21 days to consider this Agreement;
understands its meaning and application; and is signing of Employee’s own free will with the intent of being bound by it. If Employee elects to sign this Agreement prior to the expiration of 21 days, Employee has done so voluntarily and
knowingly, without any improper inducement or coercion by the Company. 
 20. Revocation of Agreement. Employee further
acknowledges that Employee may revoke this Agreement at any time within a period of seven days following the date Employee signs this Agreement. Notice of revocation must be made in writing addressed to Kellogg in accordance with Paragraph 17(e)
above. Such revocation must be received by Kellogg by the close of business of the first day following the end of the seven-day revocation period. This Agreement will not become effective until after the time period for revocation has expired.

 IN WITNESS WHEREOF, the parties have executed and agreed to this Agreement. 

 

			
	EMPLOYEE	  	KELLOGG COMPANY
		
	/s/ Bradford J. Davidson	  	By: /s/ John Bryant
	Bradford J. Davidson	  	
		
	 Date: August 21, 2013
	  	Date: August 21, 2013

  

					
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	 	- 8 -EX-10.1

 Exhibit 10.1 

EMPLOYMENT AGREEMENT 

This Employment Agreement (this “Agreement”) is made and entered into effective as of August 22, 2013 (the
“Effective Date”), by and between Ajay Kumar (the “Executive”), Blucora, Inc. (the “Company”), and Monoprice, Inc. (“Monoprice”). 

RECITALS 
 WHEREAS,
Monoprice became a wholly owned subsidiary of the Company on August 22, 2013, as a result of the Company’s purchase of all the outstanding equity interests of Monoprice pursuant to a Stock Purchase Agreement dated July 31, 2013 (such
transaction, the “Acquisition”). 
 WHEREAS, prior to the Acquisition, the Executive was employed by Monoprice as
its Chief Executive Officer pursuant to an employment letter agreement dated July 9, 2011 (the “Prior Agreement”); 

WHEREAS, the Company desires to continue the employment of Executive with Monoprice, a wholly owned subsidiary of the Company, as its
President (the “Operating Unit”); 
 NOW THEREFORE, in consideration of the foregoing, the mutual covenants
contained herein, the employment of the Executive by the Company, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

 

	1.	Certain Definitions 

 (a) “Additional Employee Agreements” means
the Noncompetition and Nonsolicitation Agreement between Executive and Blucora dated as of July 31, 2013, and the Supplementary Terms of Employment attached hereto as Exhibit A. 

(b) “Base Salary” has the meaning set forth in Section 5(a). 

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

(d) “Cause” means, as determined by the Board in its reasonable discretion: (i) the Executive’s conviction
of, or plea of guilty or nolo contendere to, a misdemeanor involving dishonesty, wrongful taking of property, immoral conduct, bribery or extortion or any felony; (ii) willful material misconduct by the Executive in connection with the
business of the Company; (iii) the Executive’s continued and willful failure to perform substantially his responsibilities to the Company under this Agreement, after written demand for substantial performance has been given by the Board
that specifically identifies how the Executive has not substantially performed his responsibilities; (iv) the Executive’s improper disclosure of confidential information or other material breach of this Agreement, including the Additional
Employee Agreements; (v) the Executive’s material fraud or dishonesty against the Company; (vi) the Executive’s willful and material breach of the Company’s written code of conduct and business ethics or other material
written policy, procedure or guideline in effect from time to time (provided that the Executive was given access to a copy of such policy, procedure or guideline prior to the alleged breach) relating to personal conduct; or (vii) the
Executive’s willful attempt to obstruct or willful failure to cooperate with any investigation authorized by the Board or any governmental or self-regulatory entity. Any determination of Cause by the Company shall be made by a resolution
approved by a majority of the members of the Board, provided that, with respect to Section 1(d)(iii), the Board must give the Executive notice and 60 days to cure the substantial nonperformance. 

 (e) “Change of Control” means the occurrence of any of the following:

 (i) any “person” (as defined in Sections 13(d) and 14(d) of the Exchange Act), excluding for this purpose, (A) the
Company or any subsidiary of the Company or (B) any employee benefit plan of the Company or any subsidiary of the Company, or any person or entity organized, appointed or established by the Company for or pursuant to the terms of any such plan
that acquires beneficial ownership of voting securities of the Company, is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing more than
50% of the combined voting power of the Company’s then outstanding securities; 
 (ii) consummation of a reorganization, merger or
consolidation of the Company, in each case, unless, following such transaction, all or substantially all the individuals and entities who were the beneficial owners of outstanding voting securities of the Company immediately prior to such
transaction beneficially own, directly or indirectly, more than 50% of the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors of the company resulting from such transaction
(including, without limitation, a company that, as a result of such transaction, owns the Company or all or substantially all the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as
their ownership immediately prior to such transaction of the outstanding voting securities of the Company; 
 (iii) any sale or disposition
by the Company, in one transaction or a series of related transactions, of all or substantially all the Company’s assets; 
 (iv) a
“Board Change” which, for purposes of this Agreement, shall have occurred if a majority of the seats on the Board are occupied by individuals who were neither (A) nominated by a majority of the Incumbent Directors nor
(B) appointed by directors so nominated (“Incumbent Director” means a member of the Board who has been either (1) nominated by a majority of the directors of the Company then in office or (2) appointed by
directors so nominated, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of either an actual or threatened election contest (as such terms are used in Rule 14a-11 of Regulation 14A
promulgated under the Exchange Act) or other actual or threatened solicitation of proxies or consents by or on behalf of a person other than the Board); or 

(v) an approval by the stockholders of the Company of a complete liquidation or dissolution of the Company. 

(f) “Code” means the Internal Revenue Code of 1986, as amended. 

(g) “Company Transaction” means a Change of Control or a Significant Operating Unit Transaction. 

(h) “Compensation Committee” means the Compensation Committee of the Board. 

(i) “Constructive Termination” means the occurrence, on a date that is prior to the two-month

  
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period prior to the consummation of a Company Transaction or after the 12-month period following the consummation of a Company Transaction, of any of the following without the Executive’s
express prior written consent: (i) a material reduction of or to the Executive’s duties, responsibilities or title (a change in reporting relationship alone does not constitute such a material reduction); (ii) a material reduction by
the Company of the Executive’s Base Salary, unless similarly situated executives also experience a reduction; or (iii) a requirement that the Executive relocate his primary work location more than 25 miles from Rancho Cucamonga, California
or from any work location to which the Company transfers the Executive during the course of his employment and to which such transfer the Executive has consented. Notwithstanding the foregoing, a Constructive Termination shall not exist unless
(x) the Executive delivers written notice to the Company (the “Constructive Termination Notice”) of the existence of the condition which the Executive believes constitutes a Constructive Termination within 30 days
of the initial existence of such condition (which Constructive Termination Notice specifically identifies such condition), (y) the Company fails to remedy such condition within 30 days after the date on which it receives such notice (the
“Constructive Termination Cure Period”), and (z) the Executive actually terminates employment within 30 days after the expiration of the Constructive Termination Cure Period. 

(j) “Disability” means the Executive’s inability to perform his employment duties to the Company hereunder, with
or without reasonable accommodation, for 180 days (in the aggregate) in any one-year period as determined by an independent physician selected by the Company. 

(k) “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

(l) “Good Reason” means the occurrence of any of the following without the Executive’s express prior written
consent: (i) a material reduction of or to the Executive’s duties, title, responsibilities or reporting relationship; (ii) a material reduction of the Executive’s Base Salary; (iii) a material reduction of the
Executive’s Target Bonus; (iv) a material reduction in the kind or level of employee benefits to which the Executive is entitled that occurs within 12 months following a Company Transaction, unless similarly situated employees also
experience a reduction; (v) a requirement that the Executive relocate his primary work location more than 25 miles from Rancho Cucamonga, California or from any work location to which the Company transfers the Executive during the course of his
employment and to which such transfer the Executive has consented; (vi) in connection with a Company Transaction, the failure of the Company to assign this Agreement to a successor to the Company or the failure of a successor to the Company to
explicitly assume and agree to be bound by this Agreement in a writing delivered to the Executive; or (vii) a material breach of this Agreement by the Company. 

Notwithstanding the foregoing, termination of employment by the Executive will not be for Good Reason unless (x) the Executive delivers
written notice to the Company (the “Good Reason Notice”) of the existence of the condition which the Executive believes constitutes Good Reason within 30 days of the initial existence of such condition (which Good Reason
Notice specifically identifies such condition), (y) the Company fails to remedy such condition within 30 days after the date on which it receives such notice (the “Good Reason Cure Period”), and (z) the
Executive actually terminates employment within 30 days after the expiration of the Good Reason Cure Period. 
 (m)
“Release” means a full release of claims against the Company substantially in the form attached hereto as Exhibit B; provided, however, that notwithstanding the foregoing, such Release is not intended to
and will not waive the Executive’s rights: (i) to indemnification pursuant to any applicable 

  
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provision of the Company’s Bylaws or Certificate of Incorporation, as amended, pursuant to any written indemnification agreement between the Executive and the Company, or pursuant to
applicable law; (ii) to vested benefits or payments specifically to be provided to the Executive under this Agreement or any Company employee benefit plans or policies; or (iii) respecting any claims the Executive may have solely by virtue
of the Executive’s status as a stockholder of the Company. The Release also shall not include claims that an employee cannot lawfully release through execution of a general release of claims. 

(n) “Section 409A” means Section 409A of the Code and the Treasury Regulations and official guidance issued
in respect of Section 409A of the Code. 
 (o) “Significant Operating Unit Transaction” means a merger or
consolidation of the Operating Unit with or into any other company, entity or person or a sale or disposition by the Company, in one transaction or a series of related transactions, of all or substantially all the Operating Unit’s assets (a
“Transaction”), other than a Transaction with a subsidiary or another corporation or other entity that is or becomes as a result of the Transaction controlled by the Company. 

(p) “Target Bonus” has the meaning set forth in Section 5(b). 

 

	2.	Duties and Scope of Employment 

 The Company, either directly or through Monoprice, shall
employ the Executive in the position of President of the Operating Unit. The Executive shall report directly to the Chief Executive Officer. The Executive will render such business and professional services in the performance of the Executive’s
duties, consistent with the Executive’s position(s) within the Company, as shall be reasonably assigned to the Executive at any time and from time to time by the Chief Executive Officer. Upon termination of the Executive’s employment for
any reason, unless otherwise requested by the Chief Executive Officer, the Executive will be deemed to have resigned from all positions held at the Company and its affiliates voluntarily, without any further action by the Executive, as of the end of
the Executive’s employment, and the Executive, at the Chief Executive Officer’s request, will execute any documents necessary to reflect his resignation. 
  

	3.	Obligations 

 While employed hereunder, the Executive will perform his duties ethically,
faithfully and to the best of the Executive’s ability and in accordance with law and Company policy. The Executive agrees not to actively engage in any other employment, occupation or consulting activity for any direct or indirect remuneration
without the express prior written approval of the Company’s Chief Executive Officer; provided, however, that notwithstanding anything to the contrary in the Additional Employee Agreements, the Executive may engage in charitable activities so
long as such activities do not materially interfere with the Executive’s responsibilities to the Company. 
  

	4.	Agreement Term 

 Unless earlier terminated as provided herein, the term of this Agreement
(the “Agreement Term”) shall be for a period of three years commencing on the Effective Date, and may be extended thereafter upon the written mutual agreement of the Executive and the Company. 

  
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	5.	Compensation and Benefits 

 (a) Base Salary. The Company agrees to pay the
Executive a base salary (the “Base Salary”) at an annual rate of not less than $357,690, payable in accordance with the regular payroll practices of the Company, but not less frequently than monthly. The Executive’s Base
Salary shall be subject to annual review by the Board (or a committee thereof). 
 (b) Annual Bonus. During the Agreement Term
beginning with calendar year 2014, the Executive shall be eligible to participate in the Company’s bonus and other incentive compensation plans and programs for the Company’s senior executives at a level commensurate with his position. The
Executive shall have the opportunity to earn an annual target bonus (the “Target Bonus”) measured against criteria to be determined by the Board (or a committee thereof) of at least 50% of Base Salary. The Executive’s
existing bonus arrangements with the Operating Unit for calendar year 2013 shall remain unchanged. 
 (c) Benefits. The Executive and
his eligible dependents shall be eligible to participate in the employee benefit plans that are available or that become available to other employees of the Operating Unit, with the adoption or maintenance of such plans to be in the discretion of
the Company, subject in each case to the generally applicable terms and conditions of the plan or program in question and to the determination of any committee administering such plan or program. Such benefits shall include participation in the
group medical, life, disability, and retirement plans that are made generally available to employees of the Operating Unit, and any supplemental plans available to senior executives of the Company from time to time. The Company reserves the right to
change or terminate its employee benefit plans and programs at any time. 
 (d) Expenses. The Company shall reimburse the Executive
for reasonable business expenses incurred by the Executive in the furtherance of or in connection with the performance of the Executive’s duties hereunder, in accordance with the Company’s expense reimbursement policy as in effect from
time to time. 
 (e) Restricted Stock Units. Effective on the Effective Date, the Executive shall be granted 50,000 time-vested
restricted stock units and 150,000 (at maximum achievement) performance-vested restricted stock units (the time-vested and the performance vested RSUs together referred to as the “RSU Grant”), which shall vest in accordance
with the terms set forth in the Restricted Stock Unit Letter Agreements approved by the Compensation Committee with respect to such RSU Grant (the “Restricted Stock Unit Agreement”) and shall otherwise be subject to the terms
and conditions of the 1996 Plan and the Restricted Stock Unit Agreement; provided, however, that notwithstanding the foregoing, in the event of a conflict between the terms and conditions of the Restricted Stock Unit Agreement and this Agreement,
the terms and conditions of this Agreement shall prevail. 
  

	6.	Termination of Employment 

 (a) General Provisions. This Agreement and the
Executive’s employment with the Company may be terminated by either the Executive or the Company at will at any time with or without Cause; provided, however, that the parties’ rights and obligations upon such termination during the
Agreement Term shall be as set forth in applicable provisions of this Agreement; and provided, further, that Section 6(d) provides for payments in the event of certain terminations of employment after the expiration of the Agreement Term. 

  
 -5- 

 (b) Any Termination by Company or Executive. In the event of any termination of
Executive’s employment with the Company, whether by the Company or by the Executive, (i) the Company shall pay the Executive any unpaid Base Salary due for periods prior to the date of termination of employment (“Termination
Date”); (ii) the Company shall pay the Executive any unpaid bonus compensation pursuant to Section 5(b), to the extent earned through the Termination Date; (iii) the Company shall pay the Executive all of the
Executive’s accrued and unused “paid time off” (PTO), if any, through the Termination Date; and (iv) following submission of proper expense reports by the Executive, the Company shall reimburse the Executive for all expenses
reasonably and necessarily incurred by the Executive in connection with the business of the Company through the Termination Date (collectively, the “Accrued Obligations”). The Accrued Obligations shall be paid promptly upon
termination and within the period of time mandated by applicable law (but, in any event, within 30 days after the Termination Date). The Accrued Obligations paid or provided pursuant to this Section 6(b) shall be in addition to the
payments and benefits, if any, to be provided to the Executive upon his termination of employment pursuant to Section 6(c), 6(d), 6(e), or 6(f). Except as expressly stated above or as required by law or this Agreement, the Executive shall
receive no further compensation in any form other than as set forth in this Section 6(b). 
 (c) Termination by Company Without
Cause or Constructive Termination. If, other than in connection with a Company Transaction as described in Section 6(d), the Executive’s employment with the Company is terminated by the Company without Cause or the Executive terminates
employment with the Company under circumstances constituting a Constructive Termination, then subject to Section 6(g), the Executive shall receive the following payments and benefits: 

(i) a severance payment in an amount equal to one times the Executive’s Base Salary in effect as of the Termination Date (less applicable
withholding taxes), which amount shall be payable in a single lump sum on the first payroll date that is at least 60 days following the Termination Date (but, in any event, by no later than March 15 of the calendar year immediately
following the calendar year that includes the Termination Date), in accordance with Section 13(b)(ii); and 
 (ii) a lump-sum payment
in an amount equal to (A) the monthly COBRA premium in effect under the Company’s group health plan as of the Termination Date for the coverage in effect under such plan for the Executive (and the Executive’s spouse and dependent
children) on such date multiplied by (B) 12, which amount shall be payable in a single lump sum on the first payroll date that is at least 60 days following the Termination Date (but, in any event, by no later than March 15 of the
calendar year immediately following the calendar year that includes the Termination Date), in accordance with Section 13(b)(ii). 

Notwithstanding any provision to the contrary in any Company equity compensation plan or any outstanding equity award agreement, if, during
the Agreement Term, the Executive terminates employment with the Company under circumstances described in this Section 6(c), there shall be no acceleration of vesting or exercisability of any outstanding equity awards or extension of any option
post-termination exercise period. 
 For the avoidance of doubt, under no circumstances will the Executive be entitled to payments and
benefits under both this Section 6(c) and Section 6(d). 

  
 -6- 

 (d) Termination of Employment in Connection With a Company Transaction. If the Company
terminates the Executive’s employment without Cause or the Executive terminates employment with the Company for Good Reason (1) on the day of or during the 12-month period immediately following the consummation of a Company Transaction or
(2) during the 2-month period prior to the consummation of a Company Transaction but at the request of any third party participating in or causing the Company Transaction or otherwise in connection with the Company Transaction, then subject to
Section 6(g), the Executive shall receive the following payments and benefits: 
 (i) a severance payment in an amount equal to one
times the Executive’s Base Salary in effect as of the Termination Date and his then current Target Bonus amount (in each case less applicable withholding taxes), which amount shall be payable in a single lump sum on the first payroll date that
is at least 60 days following the Termination Date (but, in any event, by no later than March 15 of the calendar year immediately following the calendar year that includes the Termination Date), in accordance with Section 13(b)(ii);

 (ii) a lump-sum payment in an amount equal to (A) the monthly COBRA premium in effect under the Company’s group health plan as
of the Termination Date for the coverage in effect under such plan for the Executive (and the Executive’s spouse and dependent children) on such date multiplied by (B) 12, which amount shall be payable in a single lump sum on the first
payroll date that is at least 60 days following the Termination Date (but, in any event, by no later than March 15 of the calendar year immediately following the calendar year that includes the Termination Date), in accordance with
Section 13(b)(ii); and 
 (iii) notwithstanding any provision to the contrary in any applicable equity compensation plan or any
outstanding equity award agreement, the treatment of the Executive’s outstanding equity awards shall be governed solely by the following provisions: (A) all of the Executive’s then-outstanding time-vesting equity awards (including any
portion of earned performance-vesting awards that remain subject to time vesting) shall become fully vested and all restrictions thereon shall lapse, (B) all of the Executive’s then-outstanding unearned performance-vesting awards shall
become earned and fully vested assuming 100% achievement of performance objectives and all restrictions thereon shall lapse and (C) to the extent vested (including as a result of the acceleration provided under this Section 6(d)(iii)), all
of the Executive’s outstanding stock options (if any) shall remain exercisable until the first to occur of 12 months following the Termination Date and each such stock option’s original expiration date. 

If a Company Transaction is consummated prior to the expiration of the Agreement Term, this Section 6(d) shall apply to a termination of
the Executive’s employment by the Company without Cause or by the Executive for Good Reason during the 12-month period immediately following the consummation of the Company Transaction even if such 12-month period extends past the expiration of
the Agreement Term. Moreover, notwithstanding the expiration of the Agreement Term, if a Company Transaction is consummated within two months after the expiration of the Agreement Term, then this Section 6(d) shall apply to a termination of the
Executive’s employment by the Company without Cause or by the Executive for Good Reason (i) on the day of or during the 12-month period immediately following the consummation of the Company Transaction or (ii) during the 2-month
period prior to the consummation of the Company Transaction but at the request of any third party participating in or causing the Company Transaction or otherwise in connection with the Company Transaction. 

  
 -7- 

 For the avoidance of doubt, the payments and benefits described under this Section 6(d) and
the Accrued Obligations shall be the only payments and benefits to which the Executive is entitled in the event that the Executive’s employment terminates under this Section 6(d). 

(e) Death. In the event of the Executive’s death while employed hereunder, and subject to Section 6(g), the Executive’s
beneficiary (or such other person(s) specified by will or the laws of descent and distribution) shall be entitled to receive a lump-sum payment in an amount equal to three months’ Base Salary in effect as of the Termination Date (less
applicable withholding taxes), which amount shall be payable in a single lump sum on the first payroll date that is at least 60 days following the Termination Date (but, in any event, by no later than March 15 of the calendar year
immediately following the calendar year that includes the Termination Date), in accordance with Section 13(b)(ii). 
 (f)
Disability. In the event of the Executive’s termination of employment with the Company due to Disability, and subject to Section 6(g), the Executive shall be entitled to receive a lump-sum payment in an amount equal to six months
Base Salary in effect as of the Termination Date (less applicable withholding taxes), which amount shall be payable in a single lump sum on the first payroll date that is at least 60 days following the Termination Date (but, in any event, by no
later than March 15 of the calendar year immediately following the calendar year that includes the Termination Date), in accordance with Section 13(b)(ii). 

(g) Release and Other Conditions. The payments and benefits described in Sections 6(c) through 6(f) are expressly conditioned on
(i) the Executive (or, in the case of the Executive’s death, the Executive’s representative) signing and delivering (and not revoking thereafter) a Release to the Company (which, in the case of the Executive’s death, also
releases any claims by the Executive’s estate or survivors), which Release is executed, delivered and effective no later than 60 days following the Termination Date and (ii) the Executive continuing to satisfy any obligations to the
Company under this Agreement, the Release and the Additional Employee Agreements that are incorporated herein by reference, and any other agreement(s) between the Executive and the Company. In the event the Release described in Section 6(g)(i)
is not executed, delivered and effective by the 60th day after the Termination Date, none of such payments or benefits shall be provided to the Executive. 
  

	7.	Section 280G 

 (a) Amount of Payments and Benefits. Notwithstanding anything
to the contrary herein, in the event that the Executive becomes entitled to receive or receives any payments, options, awards or benefits (including, without limitation, the monetary value of any noncash benefits and the accelerated vesting of
equity-based awards) under this Agreement or under any other plan, agreement or arrangement with the Company or any person affiliated with the Company (collectively, the “Payments”), that may separately or in the aggregate
constitute “parachute payments” within the meaning of Section 280G of the Code and the Treasury Regulations promulgated thereunder (or any similar or successor provision) (collectively, “Section 280G”) and
it is determined that, but for this Section 7(a), any of the Payments will be subject to any excise tax pursuant to Section 4999 of the Code or any similar or successor provision (the “Excise Tax”), the Company
shall pay to the Executive either (i) the full amount of the Payments or (ii) an amount equal to the Payments, reduced by the minimum amount necessary to prevent any portion of the Payments from being an “excess parachute
payment” (within the meaning of Section 280G) (the 

  
 -8- 

 
“Capped Payments”), whichever of the foregoing amounts results in the receipt by the Executive, on an after-tax basis, of the greatest amount of Payments notwithstanding
that all or some portion of the Payments may be subject to the Excise Tax. For purposes of determining whether the Executive would receive a greater after-tax benefit from the Capped Payments than from receipt of the full amount of the Payments,
(i) there shall be taken into account any Excise Tax and all applicable federal, state and local taxes required to be paid by the Executive in respect of the receipt of such payments and (ii) such payments shall be deemed to be subject to
federal income taxes at the highest rate of federal income taxation applicable to individuals that is in effect for the calendar year in which the payments and benefits are to be paid, and state and local income taxes at the highest rate of taxation
applicable to individuals in the state and locality of the Executive’s residence on the effective date of the relevant transaction described under Section 280G(b)(2)(A)(i) of the Code, net of the maximum reduction in federal income taxes
that could be obtained from deduction of such state and local taxes (as determined by assuming that such deduction is subject to the maximum limitation applicable to itemized deductions under Section 68 of the Code and any other limitations
applicable to the deduction of state and local income taxes under the Code). 
 (b) Computations and Determinations. All computations
and determinations called for by this Section 7 shall be made by an independent accounting firm or independent tax counsel appointed by the Company (the “Tax Counsel”), and all such computations and determinations shall
be conclusive and binding on the Company and the Executive. For purposes of such calculations and determinations, the Tax Counsel may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the
Code. The Tax Counsel shall submit its determination and detailed supporting calculations to both the Executive and the Company within 15 days after receipt of a notice from either the Company or the Executive that the Executive may receive
payments which may be considered “parachute payments.” The Company and the Executive shall furnish to the Tax Counsel such information and documents as the Tax Counsel may reasonably request in order to make the computations and
determinations called for by this Section 7. The Company shall bear all costs that the Tax Counsel may reasonably incur in connection with the computations and determinations called for by this Section 7. 

(c) Reduction Methodology. In the event that Section 7(a) applies and a reduction is required to be applied to the Payments
thereunder, the Payments shall be reduced by the Company in its reasonable discretion in the following order: (i) reduction of any Payments that are subject to Section 409A on a pro-rata basis or such other manner that complies with
Section 409A, as determined by the Company, and (ii) reduction of any Payments that are exempt from Section 409A. 
  

	8.	No Impediment to Agreement 

 The Executive hereby represents to the Company that the
Executive is not, as of the date hereof, and will not be, during the Executive’s employment with the Company, employed under contract, oral or written, by any other person, firm or entity, and is not and will not be bound by the provisions of
any restrictive covenant or confidentiality agreement that would constitute an impediment to, or restriction upon, the Executive’s ability to enter this Agreement and to perform the duties of the Executive’s employment. 

 

	9.	Additional Employee Agreements 

 The Additional Employee Agreements are incorporated
herein by reference. The Additional Employee Agreements shall survive the termination of this Agreement and/or the Executive’s employment with the Company. 

  
 -9- 

	10.	Arbitration 

 (a) Executive agrees that any dispute and/or claim between the Company
(including without limitation its officers, directors, employees agents or shareholders and its subsidiaries) and Executive that underlies, relates to and/or results from Executive’s employment relationship with the Company or the termination
of that relationship or any of the terms of this Agreement, including the Additional Employee Agreements, that cannot be resolved by mutual agreement of the Company and Executive will be submitted to final, binding arbitration to the maximum extent
permitted by law in accordance with the National Rules for the Resolution of Employment Disputes of the American Arbitration Association that are then in effect. This arbitration provision includes, but is not limited to, claims of wrongful
discharge, infliction of emotional distress, breach of contract (including breach of this Agreement), breach of any covenant of good faith and fair dealing, and claims of retaliation and/or discrimination in violation of any local, state or federal
law. Examples of such laws include Title VII of the Civil Rights Act of 1964; the Age Discrimination in Employment Act of 1967; the Americans with Disabilities Act of 1990; the Family and Medical Leave Act of 1993; RCW Chapter 49.60, and all
amendments to each such Act as well as the regulations issued thereunder. This arbitration provision does not affect Executive’s right to pursue worker’s compensation or unemployment compensation benefits for which he may be eligible in
accordance with state law, nor does it affect Executive’s right to file and/or to cooperate in the investigation of an administrative charge of discrimination. 

(b) Notwithstanding this arbitration provision, either Executive or the Company may apply to any court of competent jurisdiction for a
temporary restraining order, preliminary injunction, or other interim or conservatory relief, as necessary, without breach of this Agreement and without abridgement of the powers of the arbitrator. 

(c) The Company, as further consideration for Executive’s agreement to arbitrate covered disputes, agrees to pay for the
arbitrator’s fees and other costs directly associated with the arbitration that would not otherwise be charged if the parties pursued civil litigation in court 
  

	11.	Successors; Personal Services 

 The services and duties to be performed by the Executive
hereunder are personal and may not be assigned or delegated. This Agreement shall be binding upon and inure to the benefit of the Company and its successors and assigns, and the Executive and the Executive’s heirs and representatives. 

 

	12.	Notices 

 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 the Executive, mailed notices shall be addressed to
the Executive at the home address the 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 General Counsel. 

  
 -10- 

	13.	Section 409A 

 (a) The parties intend that this Agreement and the payments and
benefits provided hereunder be exempt from the requirements of Section 409A, to the maximum extent possible, whether pursuant to the short-term deferral exception described in Treasury Regulation Section 1.409A-1(b)(4), the involuntary
separation pay plan exception described in Treasury Regulation Section 1.409A-1(b)(9)(iii), or otherwise. To the extent Section 409A is applicable to this Agreement, the parties intend that this Agreement and any payments and benefits
thereunder comply with the deferral, payout and other limitations and restrictions imposed under Section 409A. Notwithstanding anything herein to the contrary, this Agreement shall be interpreted, operated and administered in a manner
consistent with such intentions. 
 (b) Without limiting the generality of the foregoing, and notwithstanding any other provision of this
Agreement to the contrary: 
 (i) if the Executive is deemed on the date of termination to be a “specified employee” within the
meaning of that term under Section 409A, then with regard to any payment that is considered a “deferral of compensation” under Section 409A payable on account of a “separation from service,” such payment shall be made
on the date which is the earlier of (A) the date that is six months and one day after the date of such “separation from service” of the Executive and (B) the date of the Executive’s death (the “Delay
Period”), to the extent required under Section 409A. Within ten business days following the expiration of the Delay Period, all payments delayed pursuant to this Section 13(b)(i) (whether they would have otherwise been payable
in a single sum or in installments in the absence of such delay) shall be paid to the Executive in a lump sum, and all remaining payments due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for
those payments in this Agreement; 
 (ii) to the extent that any payments or benefits under this Agreement are conditioned on a Release, if
the Release is executed and delivered by the Executive to the Company and becomes irrevocable and effective within the specified 60-day post-termination period, then, subject to Section 13(b)(i) and to the extent not exempt under
Section 409A, such payments or benefits shall be made or commence on the first payroll date after the date that is 60 days after the Termination Date (but, in any event, by no later than March 15 of the calendar year immediately
following the calendar year that includes the Termination Date). If a payment or benefit under this Agreement is conditioned on a Release and such Release is not executed, delivered and effective by the 60th day after the Termination Date, such
payment or benefit shall not be paid or provided to the Executive; 
 (iii) all expenses or other reimbursements under this Agreement shall
be made on or prior to the last day of the taxable year following the taxable year in which such expenses were incurred by the Executive (provided that if any such reimbursements constitute taxable income to the Executive, such reimbursements shall
be paid no later than March 15 of the calendar year following the calendar year in which the expenses to be reimbursed were incurred). No such reimbursement or expenses eligible for reimbursement in any taxable year shall in any way affect the
expenses eligible for reimbursement in any other taxable year, and the Executive’s right to reimbursement shall not be subject to liquidation in exchange for any other benefit; 

(iv) for purposes of Section 409A, the Executive’s right to receive any installment

  
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payments pursuant to this Agreement shall be treated as a right to receive a series of separate and distinct payments. Whenever a payment under this Agreement specifies a payment period with
reference to a number of days (e.g., “payment shall be made within 30 days”), the actual date of payment within the specified period shall be within the sole discretion of the Company; 

(v) in no event shall any payment under this Agreement that constitutes a “deferral of compensation” for purposes of
Section 409A be offset by any other payment pursuant to this Agreement or otherwise; and 
 (vi) to the extent required for purposes of
compliance with Section 409A, termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of any amounts or benefits upon or following a termination of employment
unless such termination is also a “separation from service” within the meaning of Section 409A, and for purposes of any such provision of this Agreement, references to a “termination,” “termination of employment”
or like terms shall mean “separation from service.” 
 (c) The Company and the Executive agree to work together in good faith to
consider amendments to this Agreement and to take such reasonable actions that may be necessary, appropriate, or desirable to avoid imposition of additional tax or income recognition on the Executive under Section 409A, in each case to the
maximum extent permitted. Notwithstanding any provision of this Agreement to the contrary, (i) in no event will the Company be liable for any additional tax, interest or penalty that may be imposed on the Executive by Section 409A or
damages for failing to comply with Section 409A and (ii) the Executive acknowledges and agrees that the Executive will not have any claim or right of action against the Company or any of its employees, officers, directors or agents in the
event it is determined that any payment or benefit provided hereunder does not comply with Section 409A. 
  

	14.	Miscellaneous Provisions 

 (a) Waiver. No provision of this Agreement shall be
modified, waived or discharged unless the modification, waiver or discharge is agreed to in writing and signed by the Executive and by an authorized officer of the Company (other than the 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. 

(b) Entire Agreement. This Agreement (including exhibits) shall supersede and replace all prior agreements or understandings relating
to the subject matter hereof, and no agreements, representations or understandings (whether oral or written or whether express or implied) that are not expressly set forth in this Agreement have been made or entered into by either party with respect
to the relevant matters hereof. This Agreement may not be modified except expressly in a writing signed by both parties. 
 (c) Choice of
Law. The validity, interpretation, construction and performance of this Agreement shall be governed by the internal substantive laws of the State of Washington without reference to any choice of law rules. 

(d) 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. 

  
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 (e) No Assignment of Benefits. The rights of any person to payments or benefits under this
Agreement shall not be made subject to option or assignment, either by voluntary or involuntary assignment or by operation of law, in respect of bankruptcy, garnishment, attachment or other creditor’s process, and any action in violation of
this Section 14(e) shall be void. 
 (f) No Duty to Mitigate. The 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 the Executive may receive from any other source. 

(g) Employment Taxes. All payments made pursuant to this Agreement will be subject to withholding of all applicable income, employment
and other taxes. 
 (h) Assignment by Company. The Company may assign its rights under this Agreement to an affiliate (as defined
under the Exchange Act), and an affiliate may assign its rights under this Agreement to another affiliate of the Company or to the Company. In the case of any such assignment, the term “Company” when used in a section of this Agreement
shall mean the corporation that actually employs the Executive. 
 (i) 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. 
 (j) Effect on Prior
Agreement. This Agreement amends and restates the Prior Agreement, which is superseded in all respects hereby. 
 IN WITNESS WHEREOF,
each of the parties has executed this Agreement, in the case of the Company by its duly authorized officer, as of the day and year first above written. 
  

			
	BLUCORA, INC.
		
	By:	 	 /s/ William J. Ruckelshaus

	Name: William J. Ruckelshaus
	Title:   President and Chief Executive Officer

  

			
	MONOPRICE, INC.
		
	 By:
	 	 /s/ Linda Schoemaker

	 Name: Linda Schoemaker

	 Title:   Secretary

 

	
	EXECUTIVE:
	
	 /S/ Ajay Kumar

	Ajay Kumar

  
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 Exhibit A 

BLUCORA 
 California
Supplementary Terms of Employment – Managerial/Professional 
 In consideration of my employment by Blucora, a Delaware corporation,
its subsidiaries, affiliates, successors or assigns (collectively herein “Blucora” or the “Company”), and in consideration of the compensation now and hereafter paid to me, I agree to the following terms and conditions of my
employment relationship with Blucora (the “Agreement”) which supplement the terms of my original offer letter and/or my employment agreement with the company: 

Section I – General Terms 
 1. At-Will
Employment: I acknowledge that my employment will be of indefinite duration and that either Blucora or I will be free to terminate this employment relationship at will at any time with or without cause. I also acknowledge that any
representations to the contrary are unauthorized and void, unless contained in a separate written employment contract signed by the Chief Executive Officer of Blucora. I further acknowledge that the terms and conditions of this Agreement shall
survive termination of my employment. 
 2. Outside Activities and Investments: I will devote my best efforts to furthering the best interests
of Blucora. During my employment, I will not engage in any activity or investment (other than an investment of less than one percent (1%) of the shares of a company traded on a registered stock exchange), that (a) conflicts with
Blucora’s business interest, including without limitation, any business activity contemplated by this Agreement, (b) occupies my attention so as to interfere with the proper and efficient performance of my duties at Blucora, or
(c) interferes with the independent exercise of my judgment in Blucora’s best interests.  
 Also, during my employment by Blucora, I will
not actively engage in any other employment, occupation or consulting activity for any direct or indirect remuneration without the prior approval of the Company’s Chief Executive Officer. I have listed on the Company’s Outside Activity
Disclosure form, attached hereto as Exhibit A, any business activities or ventures with which I am currently involved. As used herein, “Blucora’s business” means all content, technology, services or products that, during my
employment, Blucora (i) produces, provides, markets, licenses, distributes or supports or (ii) actively and demonstrably is researching and developing or preparing to produce, provide, market, license, distribute or support. 

3. Return of Company Property: At the time I leave the employ of Blucora or at Blucora’s request, I will return to Blucora all papers, drawings,
notes, memoranda, manuals, specifications, designs, devices, documents, diskettes and tapes, and any other material on any media containing or disclosing any confidential or proprietary technical or business information. I will also return any keys,
pass cards, identification cards or any other property belonging to Blucora. 
 4. Obligation to Disclose This Agreement: For a period of one
(1) year after termination of my 

  
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employment for any reason (the “Post-Employment Year”), I agree to inform any new employer, prior to accepting any such new employment, of the existence and terms of this Agreement
and to provide such new employer with a copy of this Agreement.  
 Section II – Non-Disclosure 

5. Non-Disclosure of Blucora Information: During my employment with Blucora and at any time thereafter, I will not disclose to anyone outside Blucora
nor use for any purpose other than my work for Blucora any confidential or proprietary technical, financial, marketing, distribution or business information or trade secrets of Blucora, including without limitation, concepts, techniques, processes,
methods, systems, designs, cost data, computer programs, formulas, development or experimental work, work in progress, or information or details regarding Blucora’s relationships with customers, vendors, partners and suppliers (collectively
“Blucora Confidential Information”). I will also not disclose any Blucora Confidential Information inside Blucora except on a “need to know” basis. If I have any questions as to what comprises such Blucora Confidential
Information, or to whom, if anyone, inside Blucora, it may be disclosed, I will consult my manager at Blucora. 
 6. Non-Disclosure of Third-Party
Information Obtained through Blucora: Blucora has received and will receive confidential and proprietary information from third parties subject to a duty on Blucora’s part to maintain the confidentiality of such information and to use it
only for certain limited purposes. During my employment with Blucora and thereafter, I will not disclose such confidential or proprietary information to anyone except as necessary in carrying out my work for Blucora and consistent with
Blucora’s agreement with such third party. I will not use such information for the benefit of anyone other than Blucora or such third party, or in any manner inconsistent with any agreement between Blucora and such third party of which I am
made aware. 
 7. Non-Disclosure of Third-Party Information Obtained Elsewhere: During my employment at Blucora I will not improperly use or
disclose any confidential or proprietary information or trade secrets of my former or current employers, principals, partners, co-ventures, clients, customers, or suppliers, or the vendors or customers of such persons or entities, unless such
persons or entities have given consent to my use or disclosure. I will not violate any non-disclosure or proprietary rights agreement I might have signed in connection with any such person or entity. 

Section III – Invention Assignment, Release and Cooperation 

8. Invention Assignment and Release: I will make prompt and full disclosure to Blucora, will hold in trust for the sole benefit of Blucora, and will
assign and hereby do assign exclusively to Blucora all my right, title and interest in and to any and all inventions, discoveries, designs, developments, improvements, copyrightable material, and trade secrets (collectively herein
“Inventions”) that I, solely or jointly, may conceive, develop, or reduce to practice during the period of time I am in the employ of Blucora. I hereby waive and quitclaim to Blucora any and all claims of any nature whatsoever that I now
or hereafter may have for infringement of any patent resulting from any patent applications for any Inventions so assigned to Blucora. I will assign to Blucora or its designee all right, title and interest in and to any and all Inventions full title
to which may be required to be in the United States by any contract between Blucora and the United States or any of its agencies. I understand that the provisions of this Agreement requiring assignment of Inventions to the Company do not apply to
any invention which qualifies fully under the provisions of California Labor Code Section 2870 (attached hereto as Exhibit C). I will advise the Company promptly in writing of any inventions that I conceive, develop or reduce to practice during
my employment that I believe meet the criteria in California Labor Code Section 2870 and not otherwise disclosed on Exhibit B (discussed below). 

  
 -15- 

 My obligation to assign shall not apply to any Invention about which I can prove that it was developed entirely
on my own time; and 
  

	 	a)	No equipment, supplies, facility, or trade secret information of Blucora was used in its development; and 

  

	 	b)	It does not relate (1) directly to the business of Blucora or (2) to the actual or demonstrably anticipated research or development of Blucora; and 

 

	 	c)	It does not result from any work performed by me for Blucora. 

 8. Prior Inventions: I have listed and
described on Exhibit B, attached hereto, all Inventions belonging to me and made by me prior to my employment at Blucora that I wish to have excluded from this Agreement. If Exhibit B is left blank, I represent that there are no such
Inventions. If, in the course of my employment at Blucora, I use in or incorporate into an Blucora product, process, or machine an Invention owned by me or in which I have an interest that is not on Exhibit B and is related (1) directly
to the business of Blucora or (2) to the actual or demonstrably anticipated research or development of Blucora, Blucora is hereby granted and shall have a non-exclusive, fully-paid up, royalty-free, irrevocable, worldwide license to make, have
made, use and sell that Invention without restriction as to the extent of my ownership or interest. 
 9. Cooperation: I will execute any
proper oath or verify any proper document in connection with carrying out the terms of this Agreement. If, because of my mental or physical incapacity or for any other reason whatsoever, Blucora is unable to secure my signature to apply for or to
pursue any application for any United States or foreign patent or copyright covering Inventions assigned to Blucora as stated above, I hereby irrevocably designate and appoint Blucora and its duly authorized officers and agents as my agent and
attorney in fact, to act for me and in my behalf and stead to execute and file any such applications and to all other lawfully permitted acts to further the prosecution and issuance of U.S. and foreign patents and copyrights thereon with the same
legal force and effect as if executed by me. I will testify at Blucora’s request and expense in any interference, litigation, or other legal proceeding that may arise during or after my employment. 

Section IV – Unfair Competition 
 10.
Following Termination of Employment: During the Post-Employment Year, I agree that I will not, (a) solicit, directly or indirectly, any employee, consultant or other independent contractor to terminate or limit his/her relationship as a
service provider to Blucora. In this regard, I acknowledge that the identity, skills, experience and compensation of the employees, consultants, and other independent contractors of Blucora, together with the identity, contact information, and
pricing arrangements of its clients, vendors and business partners, are valuable trade secrets of Blucora and qualify as Blucora Confidential Information, and (b) solicit, induce, or attempt to influence directly or indirectly, any customer,
business partner, supplier or vendor of Blucora to terminate or limit his/her/its business relationship with Blucora.  

  
 -16- 

 Section V – Arbitration 

11. Mutual Agreement to Arbitrate: I understand that Blucora is committed to resolving any employment related disputes and claims efficiently and
effectively, while preserving due process safeguards, through the use of binding arbitration. I agree that any dispute and/or claim between Blucora (including without limitation its officers, directors, employees agents or shareholders) and me that
underlies, relates to and/or results from my employment relationship with Blucora or any of the terms of this Agreement, including the confidentiality, non-compete and non-solicitation requirements, that cannot be resolved by mutual agreement by
Blucora and me will be submitted to final, binding arbitration to the maximum extent permitted by law in accordance with the National Rules for the Resolution of Employment Disputes of the American Arbitration Association that
are then in effect.  
 I understand that this Agreement governs any claim I have that underlies, relates to and/or results from my
employment relationship with Blucora or the termination of that relationship, including, but not limited to, claims of wrongful discharge, infliction of emotional distress, breach of contract (including breach of this Agreement), breach of any
covenant of good faith and fair dealing, and claims of retaliation and/or discrimination in violation of any local, state or federal law. Examples of such laws include Title VII of the Civil Rights Act of 1964; the Age Discrimination in Employment
Act of 1967; the Americans with Disabilities Act of 1990; the Family and Medical Leave Act of 1993; RCW Chapter 49.60, and all amendments to each such Act as well as the regulations issued thereunder. 

12. Excluded from Arbitration: This Agreement does not affect my right to pursue worker’s compensation or unemployment compensation benefits for
which I may be eligible in accordance with state law, nor does it affect my right to file and/or to cooperate in the investigation of an administrative charge of discrimination. 

13. Arbitration Remedies and Awards: I understand that I may seek in arbitration any remedy or award that would be available to me through civil
litigation and the arbitrator has authority to grant any such remedy or award. I agree that such remedies include monetary damages but do not include reinstatement unless authorized by statute. 

14. Arbitration Fees: I understand that Blucora, as further consideration for my agreement to arbitrate covered disputes, agrees to pay for the
arbitrator’s fees and other costs directly associated with the arbitration that would not otherwise be charged if the parties pursued civil litigation in court. 

15. Injunctive or Other Relief: I understand that, pursuant to this Agreement, I forego and waive the right to take any covered dispute or claim to
civil litigation in court. However, I understand that either I or Blucora may apply to any court of competent jurisdiction for a temporary restraining order, preliminary injunction, or other interim or conservatory relief, as necessary, without
breach of this Agreement and without abridgement of the powers of the arbitrator.  
 Section VI – Miscellaneous Terms 

16. Choice of Law and Venue: I agree that this Agreement shall be governed for all purposes by the laws of the state of Washington as such laws apply to
contracts to be performed within Washington by residents of Washington and that venue for any action arising out of this Agreement shall be exclusively laid in King County, Washington or in the Federal District Court of the Western District of
Washington. In any matter that is presented to an arbitrator under this Agreement, I agree that the location of the arbitration hearing(s) will be in King County, Washington, unless another location is mutually agreed upon. 

  
 -17- 

 17. Conflicting Provisions: If any provision of this Agreement shall be declared excessively broad, it
shall be construed or modified so as to afford Blucora the maximum protection permissible by law. If any provision of this Agreement is void or so declared, such provision shall be severed from this Agreement, which shall otherwise remain in full
force and effect.  
 18. Entire Agreement: This Agreement, together with the Employment Agreement and the Noncompetition and Nonsolicitation
Agreement between the parties hereto, sets forth the entire Agreement of the parties as to the subject matter hereof and any representations, promises, or conditions in connection therewith not in writing and signed by both parties shall not be
binding upon either party. 
 19. Acknowledgment: I acknowledge that I have had a full opportunity to read this Agreement before signing it. I
confirm that I understand its terms and believe them to be reasonable, and I agree that Blucora’s offer of employment or continued employment is sufficient consideration for this Agreement. 

HAVING READ AND FULLY UNDERSTOOD THIS AGREEMENT, I have signed my name this date. 

Signature of Employee: /s/ Ajay Kumar             

Name of Employee: Ajay Kumar 
 Date: August 22, 2013 

  
 -18- 

 EXHIBIT B 

GENERAL RELEASE OF ALL CLAIMS 

This General Release and Waiver of Claims (this “Release”) is executed by Ajay Kumar (“Executive”) as of the date set
forth below, and will become effective as of the “Effective Date” as defined below. This Release is in consideration of severance benefits to be paid to Executive by Blucora, Inc., a Delaware corporation (the “Company”) pursuant
to the Employment Agreement between Executive and the Company dated as of August 22, 2013 (the “Employment Agreement”). Execution of this Release without revocation by Executive will satisfy the requirement, set forth in
Section 6(g) of the Employment Agreement, that Executive execute a general release and waiver of claims in order to receive severance benefits pursuant to the Employment Agreement. 

 

	 	1.	Termination of Employment 

 Executive acknowledges that his employment
with the Company and any of its subsidiaries (collectively, the “Company Group”) and any and all appointments he held with any member of the Company Group, whether as officer, director, employee, consultant, agent or otherwise, terminated
as of              (the “Termination Date”). Effective as of the Termination Date, Executive has not had or exercised or purported to have or exercise any authority to act
on behalf of the Company or any other member of the Company Group, nor will Executive have or exercise or purport to have or exercise such authority in the future. 
  

	 	2.	Waiver and Release 

  

	 	(a)	Executive, for and on behalf himself and his heirs and assigns, hereby waives and releases any common law, statutory or other complaints, claims, charges or causes of action arising out of or relating to
Executive’s employment or termination of employment with, or Executive’s serving in any capacity in respect of any member of the Company Group (collectively, “Claims”). The Claims waived and released by this Release include any
and all Claims, whether known or unknown, whether in law or in equity, which Executive may now have or ever had against any member of the Company Group or any shareholder, employee, officer, director, agent, attorney, representative, trustee,
administrator or fiduciary of any member of the Company Group (collectively, the “Company Releasees”) up to and including the date of Executive’s execution of this Agreement. The Claims waived and released by this Release
include, without limitation, any and all Claims arising out of Executive’s employment with the Company Group under, by way of example and not limitation, the Age Discrimination in Employment Act of 1967 (“ADEA”, a law which
prohibits discrimination on the basis of age against persons age 40 and older), the National Labor Relations Act, the Civil Rights Act of 1991, the Americans With Disabilities Act of 1990, Title VII of the Civil Rights Act of 1964, the Employee
Retirement Income Security Act of 1974, the Family Medical Leave Act, the Securities Act of 1933, the Securities Exchange Act of 1934, and the Washington Law Against Discrimination, all as amended, and all other federal, state and local statutes,
ordinances, regulations and the common law, and any and all Claims arising out of any express or implied contract, except as described in Paragraphs 2(b) and 2(c) below. 

 

	 	(b)	 The waiver and release set forth in this Section 2 is intended to be construed as broadly and comprehensively as applicable law permits. The
waiver and release shall not be construed as waiving or releasing any claim or right that as a matter of law cannot be 

  
 -19- 

	 	
waived or released, including Executive’s right to file a charge with the Equal Employment Opportunity Commission or other government agency; however, Executive waives any right to recover
monetary remedies and agrees that he will not accept any monetary remedy as a result of any such charge or as a result of any legal action taken against the Company by any such agency. 

 

	 	(c)	Notwithstanding anything else in this Release, Executive does not waive or release claims with respect to: 

  

	 	(i)	Executive’s entitlement, if any, to severance benefits pursuant to the Employment Agreement; 

  

	 	(ii)	vested benefits or payments specifically to be provided to the Executive pursuant to the Employment Agreement or any Company employee benefit plans or policies; 

 

	 	(iii)	indemnification pursuant to any applicable provision of the Company’s Bylaws or Certificate of Incorporation, as amended, pursuant to any written indemnification agreement between the Executive and the Company, or
pursuant to applicable law; 

  

	 	(iv)	any claims which the Executive may have solely by virtue of the Executive’s status as a shareholder of the Company 

  

	 	(v)	unemployment compensation to which Executive may be entitled under applicable law. 

  

	 	(d)	Executive represents and warrants that he is the sole owner of the actual or alleged Claims that are released hereby, that the same have not been assigned, transferred, or disposed of in fact, by operation of law, or in
any manner, and that he has the full right and power to grant, execute and deliver the releases, undertakings, and agreements contained herein. 

  

	 	(e)	Executive represents that he has not filed any complaints, charges or lawsuits against the Company with any governmental agency or any court based on Claims that are released and waived by this Release.

  

	 	3.	No Admission of Wrongdoing 

 This Release shall not be construed as an
admission by either party of any wrongful or unlawful act or breach of contract. 
  

	 	4.	Binding Agreement; Successors and Assigns 

 This Release binds
Executive’s heirs, administrators, representatives, executors, successors, and assigns, and will inure to the benefit of the respective heirs, administrators, representatives, executors, successors, and assigns of any person or entity as to
whom the waiver and release set forth in Section 2 applies. 

  
 -20- 

	 	5.	Other Agreements 

 This Release does not supersede or modify in any way
Executive’s continuing obligations pursuant to the Employment Agreement (including Exhibit B thereto) or the dispute resolution provisions of the Employment Agreement (including Exhibit B thereto). 

 

	 	6.	Knowing and Voluntary Agreement; Consideration and Revocation Periods 

  

	 	(a)	Executive acknowledges that he has been given twenty-one (21) calendar days from the date of receipt of this Release to consider all of the provisions of this Release and that if he signs this Release before the
21-day period has ended he knowingly and voluntarily waives some or all of such 21-day period. 

  

	 	(b)	Executive represents that (i) he has read this Release carefully, (ii) he has hereby been advised by the Company to consult an attorney of his choice and has either done so or voluntarily chosen not to do so,
(iii) he fully understands that by signing below he is giving up certain rights which he might otherwise have to sue or assert a claim against any of the Company Releasees, and (iv) he has not been forced or pressured in any manner
whatsoever to sign this Release, and agrees to all of its terms voluntarily. 

  

	 	(c)	Executive shall have seven (7) calendar days from the date of his execution of this Release (the “Revocation Period”) in which he may revoke this Release. Such revocation must be in writing and
delivered, prior to the expiration of the Revocation Period, to the attention of the Company’s Chief Executive Officer at the Company’s then-current headquarters address. If Executive revokes this Release during the Revocation Period, then
the Release shall be null and void and without effect. 

  

	 	7.	Effective Date 

 The Effective Date of this Release will be day after the
Revocation Period expires without revocation by Executive. 
 IN WITNESS WHEREOF, Executive has executed this Release as of the date
indicated below. 
  

									
	  
	 		 	Dated:	 	  

  
 -21-

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