Document:

EX-10.6

 Exhibit 10.6 

April 21, 2016 
 Mr. Faraj Aalaei 

Amended & Restated Employment Agreement 

Dear Faraj: 
 On behalf of
Aquantia Corp. (the “Company”), this letter agreement (this “Agreement”) amends and restates the employment letter agreement between you and the Company that was effective as of June 22,
2011. 
 1. Positions. You will continue to serve as the Company’s President and Chief Executive Officer, on a
full time basis, reporting to the Board of Directors (the “Board”). You shall perform such duties and responsibilities as are customarily associated with such position in accordance with the standards of the
industry. You will devote substantially all of your working time and attention to the business of the Company and will not, except with the prior approval of the Board, engage, directly or indirectly, in any other business activity (other than those
described on Annex I hereto) that is competitive in any manner with the business of the Company. You will also be expected to comply with and be bound by the Company’s operating policies, procedures and practices that are from time to time in
effect during your employment. 
 2. Base Salary, Bonus, Benefits. Your current base annual salary is $450,000 per year, which
is payable in accordance with the Company’s regular payroll practices. Your base salary may be increased by the Board in its sole discretion. You are eligible to earn an annual performance-based bonus with a target amount equal to 50% of your
base salary, with the amount earned determined by the Board based on individual and Company performance. In all events, any bonus will be paid not later than March 15 of the year following the year in which your right to such amount became
vested. You will be eligible to participate in the employee benefit plans and policies made available to all full time employees from time to time on the terms and conditions of those plans and policies. All compensation payable to you is subject to
applicable payroll deductions and withholdings. 
 3. Equity Compensation. The Board may make grants of equity awards to you
from time to time, in its sole discretion. Unless otherwise requested by you prior to a future date of grant, if the Board makes grants to you in the future, such grants will contain the following terms: 

 

	 	•	 	Each option grant will be early exercisable (that is, exercisable, prior to vesting, subject to the Company’s repurchase right); 

 

	 	•	 	Each equity award grant will vest monthly, in equal installments, over four years from the grant date, so long as you remain in the continuous service of the Company; and 

 

	 	•	 	If you remain employed by the Company through the effective date of a Change of Control, with such term having the meaning set forth below, your then outstanding, but unvested, equity awards, will become fully vested.

  
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 Nothing in this Agreement modifies the terms of any previously granted equity awards, including
any awards granted under our 2004 Equity Incentive Plan and 2015 Equity Incentive Plan, except as expressly set forth herein. 
 4.
Better After-Tax Provision. In the event that it shall be determined that the payments and benefits you may receive in connection with a Change of Control would be subject to the excise tax imposed pursuant to Section 4999 of the Internal
Revenue Code of 1986, as amended (the “Code”), then, at your sole discretion, you may cause the Company to solicit shareholder approval of your “parachute payments” in accordance with the requirements
set forth in Section 280G(b)(5) of the Code and the underlying regulations, provided that immediately before the Change of Control, none of the Company’s stock is readily tradeable on an established securities market or otherwise. If you
do not elect to have the Company solicit such shareholder approval or if any of the Company’s stock is readily tradeable on an established securities market immediately before the Change of Control, your “parachute payments” shall be
payable (i) in full, or (ii) as to such lesser amount which would result in no portion of such severance and other benefits being subject to the excise tax under Section 4999 of the Code, whichever of the foregoing amounts, taking
into account the applicable federal, state and local income taxes and the excise tax imposed by Section 4999, results in the receipt by you on an after-tax basis, of the greatest amount of payments and benefits, notwithstanding that all or some
portion of such payments and benefits may be taxable under Section 4999 of the Code. Unless the Company and you otherwise agree in writing, any determination required under this Section shall be made in writing by the Company’s independent
public accountants (the “Accountants”), whose determination shall be conclusive and binding upon you and the Company for all purposes. For purposes of making the calculations required by this Section, the
Accountants may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the Code. The Company and you shall furnish to
the Accountants such information and documents as the Accountants may reasonably request in order to make a determination under this Section. The Company shall bear all costs the Accountants may reasonably incur in connection with any calculations
contemplated by this Section. If a reduced amount will give rise to the greater after-tax benefit, the reduction in the payments shall occur in the following order: (a) reduction of cash payments; (b) cancellation of accelerated vesting of
equity awards other than stock options; (c) cancellation of accelerated vesting of stock options; and (d) reduction of other benefits paid to you. Within any such category of payments and benefits (that is, (a), (b), (c) or (d)), a
reduction shall occur first with respect to amounts that are not “deferred compensation” within the meaning of Section 409A of the Code and then with respect to amounts that are. In the event that acceleration of compensation from
your equity awards is to be reduced, such acceleration of vesting shall be canceled, subject to the immediately preceding sentence, in the reverse order of the date of grant. 

5. Employment and Termination. Upon any termination of your employment with the Company, you will receive payment for all unpaid salary
and vacation accrued but not used through the date of your termination of employment, and your right to continued participation in  

  
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employee benefits plans and policies will be as determined under the applicable plans and policies and applicable laws. In no way limiting the at-will nature of your employment, we note that:

 (a) You may terminate your employment upon written notice to the Board at any time for “Good Reason,” as defined below
(an “Involuntary Termination”); 
 (b) You may terminate your employment upon written notice to the Board at
any time in your discretion without Good Reason (“Voluntary Termination”); 
 (c) The Company may terminate
your employment upon written notice to you at any time following a determination by the Board that there is “Cause,” as defined below, for such termination (“Termination for Cause”); 

(d) The Company may terminate your employment upon written notice to you at any time in the sole discretion of the Board without a
determination that there is Cause for such termination (“Termination without Cause”); or 
 (e) Your
employment will automatically terminate upon your death or upon your disability as determined by the Board (“Termination for Death or Disability”); provided that “disability” shall mean your complete inability to
perform your job responsibilities for a period of ninety (90) days in the aggregate in any twelve (12) month period. 
 6.
Definitions. 
 (a) “Cause”. As used in this agreement, “Cause” means
(i) willfully engaging in conduct that is in bad faith and materially injurious to the Company, including, but not limited to, misappropriation of trade secrets, fraud, or embezzlement; (ii) failure to perform your duties to the Company
(other than as a result of a disability) as reasonably determined by the Board in good faith which is not cured within ninety (90) days after written notice from the Board; (iii) conviction of a felony or a crime causing material harm to
the business and affairs of the Company or (iv) a material breach by you of this Agreement, the Confidential Information and Invention Assignment Agreement, Employee Invention Assignment and Confidentiality Agreement or any other agreements
entered into by you and the Company and failure to cure such breach (to the extent that such breach is capable of cure) within ninety (90) days after written notice from the Board. 

(b) “Change of Control”. As used in this Agreement, “Change of Control” means
(a) any reorganization, consolidation, merger, sale of shares or similar transaction or series of related transactions (each, a “combination transaction”) in which the Company is a constituent corporation or is a party if, as a result
of such combination transaction, the voting securities of the Company that are outstanding immediately prior to the consummation of such combination transaction (other than any such securities that are held by an “Acquiring Stockholder”,
as defined below) do not represent, or are not converted into, securities of the surviving corporation of such combination transaction (or such surviving corporation’s parent corporation if the surviving corporation is owned by the parent
corporation) that, immediately after the consummation of such combination transaction, together represent at least a majority of the total voting power of all securities of such surviving corporation (or its parent corporation, if

  
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applicable) that are outstanding immediately after the consummation of such combination transaction, including securities of such surviving corporation (or its parent corporation, if applicable)
that are held by the Acquiring Stockholder; or (b) a sale, exclusive license or other conveyance of all or substantially all of the assets of the Company, in one transaction or a series of related transactions. For the avoidance of doubt, the
sale of equity securities of the Company for the primary purpose of raising additional working capital shall not be deemed to be a Change of Control. For purposes hereof, an “Acquiring Stockholder” means a stockholder or stockholders of
the Company that (i) merges or combines with the Company in such combination transaction or (ii) owns or controls a majority of another corporation that merges or combines with the Company in such combination transaction. Notwithstanding
the foregoing, to the extent that the Company determines that any of the payments or benefits to you under this Agreement or otherwise that are payable in connection with a Change of Control constitute deferred compensation under Section 409A
that may only be paid on a qualifying transaction (that is, the payments and benefits are not otherwise “exempt” under 409A), the foregoing definition of Change of Control shall apply only to the extent the transaction also is “a
change in ownership or effective control of a corporation” or “a change in the ownership of a substantial portion of the assets of a corporation”, as defined under Treasury Regulations Section 1.409A-3(i)(5). 

(c) “Good Reason”. As used in this agreement, “Good Reason” means a
voluntary resignation by you in the event of (1) a reduction in your salary of more than ten percent (excluding pro rata reductions across all executives in the Company), (2) you no longer have the title of President and Chief Executive
Officer or their equivalent, (3) a reduction in your responsibilities to less than those typically held by a President and Chief Executive Officer, (4) a relocation of the offices at which you are required to work to a location more than
fifty (50) miles from the office at which you previously were required to work or (5) a material breach by the Company of this Agreement or any other agreements entered into by you and the Company and failure to cure such breach (to the
extent that such breach is capable of cure) within ninety (90) days after written notice thereof to the Board. 
 7.
Separation Benefits. If at any time (whether before or after a Change of Control) you suffer an Involuntary Termination or a Termination Without Cause (and to be clear, a Termination for Death or Disability shall not constitute a
Termination without Cause), and provided such termination constitutes a “separation from service” (as defined under Treasury Regulations Section 1.409A-1(h), without regard to any alternative definition thereunder, a
“Separation from Service”), then subject to your obligations below (including but not limited to your execution of an effective release and waiver of claims, in the form attached hereto as Annex II, that is effective not
later than the sixtieth (60th) day following your Separation from Service), you shall be entitled to receive (collectively, the “Severance Benefits”):

  

	 	•	 	an amount equal to eighteen (18) months of your then current base salary, ignoring any decrease in base salary that forms the basis for Good Reason, less all applicable withholdings and deductions, paid over such
eighteen (18) month period on the schedule described below (the “Salary Continuation”). 

  

	 	•	 	acceleration of the vesting of each of your then outstanding compensatory stock grants as of the date of termination as to the number of shares that would have vested in accordance with their applicable vesting
schedules if you had been in service for an additional eighteen (18) months as of your termination date (based upon months of service and not the occurrence of corporate events or milestones). 

 

	 	•	 	to the extent that you timely elect COBRA coverage under the Company’s health plans, the Company will pay or reimburse you for the cost of your COBRA premiums for a period of up to eighteen (18) months
commencing on the first date on which you lose health care coverage as a result of your Separation from Service, provided, however, that the Company’s obligation to pay or reimburse your COBRA premiums will cease immediately in the event
that you either become eligible for group health insurance or cease to be eligible for COBRA coverage during such eighteen (18) month period (such period that you are eligible for Company-paid COBRA benefits, the “COBRA Payment
Period”). 

  
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 If at any time the Company determines, in its sole discretion, that the payment of the COBRA
premiums would result in a violation of the nondiscrimination rules of Section 105(h)(2) of the Code or any statute or regulation of similar effect (including but not limited to the 2010 Patient Protection and Affordable Care Act, as amended by
the 2010 Health Care and Education Reconciliation Act), then in lieu of providing the COBRA premiums, the Company will instead pay you on the last day of each remaining month of the COBRA Payment Period, a taxable cash amount that, on an after-tax
basis, is sufficient to obtain the same or equivalent coverage with any such gross-up for taxes paid in accordance with Treasury Regulations Section 1.409A-3(i)(1)(v) (such amount, the “Special Severance Payment”), for
the remainder of the COBRA Payment Period. For clarity, you are not required to elect continued health insurance coverage under COBRA or use this Special Severance Payment to obtain alternative health insurance coverage in order to receive this
payment. 
 The Severance Benefits are conditional upon (a) your continuing to comply with your obligations under your Confidential
Information and Invention Assignment Agreement, Employee Invention Assignment and Confidentiality Agreement and any similar agreement during the period of time in which you are receiving the Severance Benefits; (b) your delivering to the
Company an effective, general release of claims in favor of the Company in substantially the form set forth on Annex II within sixty (60) days following your Separation from Service; and (c) if you are a member of the Board, your
resignation from the Board, to be effective no later than the date of your termination (or such other date as requested by the Board). The Salary Continuation will be paid in equal installments on the Company’s regular payroll schedule and will
be subject to applicable tax withholdings over the period outlined above following the date of your Separation from Service; provided, however, that no payments will be made prior to the 60th day following your Separation from Service. On the 60th
day following your Separation from Service, the Company will pay you in a lump sum the Salary Continuation and other Severance Benefits (including any Special Severance Payments) that you would have received on or prior to such date under the
original schedule but for the delay while waiting for the 60th day in compliance with Section 409A of the Code and the effectiveness of the release, with the balance of the Salary Continuation and other Severance Benefits being paid as
originally scheduled. 
 8. Section 409A. It is intended that all of the benefits and payments payable under this Agreement
satisfy, to the greatest extent possible, the exemptions from the application of Section 409A of the Code provided under Treasury Regulations Sections 1.409A-1(b)(4), 

  
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1.409A-1(b)(5) and 1.409A-1(b)(9), and this Agreement will be construed to the greatest extent possible as
consistent with those provisions, and to the extent not so exempt, this Agreement (and any definitions hereunder) will be construed in a manner that complies with Section 409A of the Code. For purposes of Section 409A of the Code
(including, without limitation, for purposes of Treasury Regulations Section 1.409A-2(b)(2)(iii)), your right to receive any installment payments under this letter (whether severance payments,
reimbursements or otherwise) shall be treated as a right to receive a series of separate payments and, accordingly, each installment payment hereunder (including the Severance Benefits) shall at all times be considered a separate and distinct
payment. Notwithstanding any provision to the contrary in this letter, if you are deemed by the Company at the time of your Separation from Service to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code, and
if any of the payments upon Separation from Service set forth herein and/or under any other agreement with the Company are deemed to be “deferred compensation”, then to the extent delayed commencement of any portion of such payments is
required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code and the related adverse taxation under Section 409A of the Code, such payments shall not be provided to you prior to the earliest of
(i) the expiration of the six-month period measured from the date of your Separation from Service with the Company, (ii) the date of your death or (iii) such earlier date as permitted under Section 409A of the Code without the
imposition of adverse taxation. Upon the first business day following the expiration of such applicable period, all payments deferred pursuant to this paragraph shall be paid in a lump sum to you, and any remaining payments due shall be paid as
otherwise provided herein or in the applicable agreement. No interest shall be due on any amounts so deferred. 
 9. At Will Employment.
You will continue to be an at-will employee of the Company, which means the employment relationship can be terminated by either you or the Company for any reason, at any time, with or without prior notice and with or without Cause. Any
modification or change in your at-will employment status may only occur by way of a written employment agreement signed by you and the Board. 

10. Confidential Information and Invention Assignment Agreement. You are obligated to comply with the Employee Invention Assignment and
Confidentiality Agreement you entered in connection with you hiring. Nothing in this Agreement alters the terms and conditions of that Employee Invention Assignment and Confidentiality Agreement. 

11. Arbitration. To ensure rapid and economical resolution of any disputes regarding this Agreement, you and the Company agree that any
and all claims, disputes or controversies of any nature whatsoever arising out of, or relating to, this Agreement, or its interpretation, enforcement, breach, performance or execution, your employment with the Company, or the termination of such
employment, including but not limited to any statutory claims, shall be resolved, to the fullest extent permitted by law, by final, binding and confidential arbitration in San Jose, California conducted before a single arbitrator by JAMS, Inc.
(“JAMS”) or its successor, under the then applicable JAMS arbitration rules. The parties each acknowledge that by agreeing to this arbitration procedure, they waive the right to resolve any such dispute,
claim or demand through a trial by jury or judge or by administrative proceeding. You will have the right to be represented by legal counsel at any arbitration proceeding. The arbitrator shall: (a) have the authority to compel adequate
discovery for the  

  
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resolution of the dispute and to award such relief as would otherwise be available under applicable law in a court proceeding; and (b) issue a written statement signed by the arbitrator
regarding the disposition of each claim and the relief, if any, awarded as to each claim, the reasons for the award, and the arbitrator’s essential findings and conclusions on which the award is based. The arbitrator, and not a court, shall
also be authorized to determine whether the provisions of this paragraph apply to a dispute, controversy, or claim sought to be resolved in accordance with these arbitration proceedings. The Company shall pay all costs and fees in excess of the
amount of court fees that you would be required to incur if the dispute were filed or decided in a court of law. Nothing in this Agreement is intended to prevent either you or the Company from obtaining injunctive relief in court to prevent
irreparable harm pending the conclusion of any such arbitration. 
 12. Indemnification. In the event you are made, or threatened to
be made, a party to any legal action or proceeding, whether civil or criminal, by reason of the fact that you are or were an employee, director or officer of the Company or serve or served any other corporation owned or controlled by the Company in
any capacity at the Company’s request, you shall be indemnified by the Company, and the Company shall pay your related expenses, including, but not limited to, any attorneys’ fees and costs, when and as incurred, all to the fullest extent
permitted by law. 
 13. Miscellaneous. 

(a) Authority to Enter into Agreement. The Company represents that its Chairman of the Board has due authority to execute and
deliver this agreement on behalf of the Company. 
 (b) Absence of Conflicts. You represent that your performance of your
duties under this Agreement will not breach any other agreement as to which you are a party. 
 (c) Attorneys’ Fees. If a
legal action or other proceeding is brought for enforcement of this Agreement because of an alleged dispute, breach, default, or misrepresentation in connection with any of the provisions of this Agreement, the successful or prevailing party shall
be entitled to recover reasonable attorneys’ fees and costs incurred, both before and after judgment, in addition to any other relief to which they may be entitled. 

(d) Successors. This Agreement is binding on and may be enforced by the Company and its successors and assigns and is binding on
and may be enforced by you and your heirs and legal representatives. Any successor to the Company or substantially all of its business (whether by purchase, merger, consolidation or otherwise) will in advance assume in writing and be bound by all of
the Company’s obligations under this Agreement. 
 (e) Notices. Notices under this Agreement must be in writing and will
be deemed to have been given when personally delivered or two days after mailed by U.S. registered or certified mail, return receipt requested and postage prepaid. Mailed notices to you will be addressed to you at the home address which you have
most recently communicated to the Company in writing. 

  
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 (f) Amendments; Waiver. No provision of this Agreement will be modified or waived
except in a writing signed by you and an officer of the Company duly authorized by its Board. No waiver by either party of any breach of this Agreement by the other party will be considered a waiver of any other breach of this Agreement. 

(g) Entire Agreement. This Agreement, together with the Employee Invention Assignment and Confidentiality Agreement, any Stock Option
Agreement (and any related agreement such as a promissory note) between you and the Company, and any indemnification agreement between you and the Company, represents the entire agreement between the parties concerning the subject matter of your
employment by the Company. 
 (h) Severability. In the event that any provision hereof becomes or is declared by a court of competent
jurisdiction to be illegal, unenforceable or void, this Agreement shall continue in full force and effect without said provision. 
 (i)
Governing Law. This Agreement will be governed by the laws of the State of California without reference to conflict of laws provisions. 

(j) Counterparts. This Agreement may be executed in counterparts, and each counterpart shall have the same force and effect as an
original and shall constitute an effective, binding agreement on the part of each of the undersigned. 
 Please indicate your acceptance of
the terms of this Agreement by signing in the place indicated below. 
  

			
	AQUANTIA CORP.
		
	By:	 	 /s/ Faraj Aalaei

		
	Date:	 	 April 21, 2016

	
	Accepted:
	
	 /s/ Faraj Aalaei

	Faraj Aalaei
		
	Date:	 	 April 21, 2016

  
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 April 21, 2016 

Annex I 
 Permitted Competitive
Ventures 
 None. 

  
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 Annex II 

            ,         

[DATE] 
 Faraj Aalaei

 [ADDRESS] 

Re:    Terms of Separation 

Dear                     : 

This letter confirms the agreement (this “Agreement”) between you and Aquantia Corp. (the
“Company”) concerning the terms of your separation and offers you the Severance Benefits set forth in the amended and restated employment agreement between you and the Company dated April 21, 2016 (the
“Employment Letter Agreement”) in exchange for a release of claims. 
 1.
Termination. You have terminated your relationship with the Company, effective                     (the “Termination
Date”). 
 2. Acknowledgment of Payment of Wages/Expenses. By your signature below, you acknowledge that
[herewith [or] on                    
[DATE]],                     we provided you a final paycheck in the amount of
                    Dollars ($         ) for all wages, salary, bonuses, reimbursable expenses, accrued but
unused vacation and any similar payments due you from Company as of the Termination Date. By signing below, you acknowledge that Company does not owe you any other amounts. 

3. Return of Company Property. You hereby represent and warrant to Company that you have returned to Company all real or intangible
property or data of Company of any type whatsoever that has been in your possession or control. 
 4. Confidential
Information. You hereby acknowledge that you are bound by the attached Employee Invention Assignment and Confidentiality Agreement dated
                    (the “Employee Invention Agreement”), and that as a result of your employment with Company you have had
access to Company’s Proprietary Information (as defined in the Employee Invention Agreement), that you will hold all Proprietary Information in strictest confidence and that you will not make use of such Proprietary Information on behalf of
anyone. You further confirm that you have delivered to Company all documents and data of any nature containing or pertaining to such Proprietary Information and that you have not taken with you any such documents or data or any reproduction
thereof. 
 5. Severance Benefits. Provided you sign this Agreement, allow it to become effective within the time
period set forth below, and otherwise observe your obligations set forth in this Agreement and in your Employment Letter Agreement, the Company will provide you with the Severance Benefits as set forth in the Employment Letter Agreement in full
satisfaction of its obligations to you under such agreement.  

  
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 6. Waiver of Claims. 

(a) By You. In consideration for the Severance Benefits offered to you under your Employment Letter Agreement, you hereby release and
waive any other claims you may have against Company and its owners, agents, officers, shareholders, employees, directors, attorneys, subscribers, subsidiaries, affiliates, successors and assigns (collectively “Company
Releasees”), whether known or not known, including, without limitation, claims under any employment laws, including, but not limited to, claims of unlawful discharge, breach of contract, breach of the covenant of good faith and fair
dealing, fraud, violation of public policy, defamation, physical injury, emotional distress, claims for vacation pay, bonus pay, profit-sharing, stock awards, termination or severance benefits or other compensation or benefits arising out of your
employment or your separation of employment, claims under Title VII of the 1964 Civil Rights Act, as amended, the California Fair Employment and Housing Act and any other laws and/or regulations relating to employment or employment discrimination,
including, without limitation, claims based on age or under the Age Discrimination in Employment Act or Older Workers Benefit Protection Act (the “ADEA”). 

You also acknowledge that (i) the consideration given to you in exchange for the waiver and release in this Agreement is in addition to
anything of value to which you were already entitled; (ii) you are not releasing any right of indemnification you may have in your capacity as an employee, officer and/or director of the Company pursuant to any express indemnification
agreement; (iii) you are not releasing any rights you may have as an owner and/or holder of the Company’s common stock and stock awards; and (iv) your waiver and release do not apply to any rights or claims that may arise after the
date you sign this Agreement. Excluded from this release are any claims which cannot be waived by law. You are waiving, however, your right to any monetary recovery should any agency, such as the EEOC or DFEH, pursue any claims on your behalf. 

(b) By the Company. The Company hereby releases and waives any claims it may have against you, for yourself and on behalf of your
spouse, and your predecessors and successors in interest, heirs and assigns (“Your Releasees” and, collectively with the Company Releasees, the “Releasees”), whether known or not known. 

(c) Release of Unknown Claims. By signing below, each party expressly waives any benefits of Section 1542 of the Civil Code of the
State of California, which provides as follows: 
 “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR
SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.” 

  
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 7. Representations. You hereby represent that you have been paid all compensation owed and
for all time worked, you have received all the leave and leave benefits and protections for which you are eligible pursuant to applicable laws or Company policies, and you have not suffered any work-related injury or illness for which you have not
already filed a workers’ compensation claim. 
 8. Nondisparagement. You agree that you will not disparage Company
Releasees or their products, services, agents, representatives, directors, officers, shareholders, attorneys, employees, vendors, affiliates, successors or assigns, or any person acting by, through, under or in concert with any of them, with any
written or oral statement. The Company agrees that it will not disparage Your Releasees or any person acting by, through, under or in concert with any of them, with any written or oral statement. 

9. Legal and Equitable Remedies. Each party agree that Releasees have the right to enforce this Agreement and any of its provisions by
injunction, specific performance or other equitable relief without prejudice to any other rights or remedies Releasees may have at law or in equity for breach of this Agreement. 

10. Attorneys’ Fees. If any action is brought to enforce the terms of this Agreement, the prevailing party will be entitled to
recover its reasonable attorneys’ fees, costs and expenses from the other party, in addition to any other relief to which the prevailing party may be entitled. 

11. Confidentiality. The contents, terms and conditions of this Agreement must be kept confidential by you and may not be disclosed
except to your accountant or attorneys or pursuant to subpoena or court order. You agree that if you are asked for information concerning this settlement, you will state only that you and Company reached an amicable resolution of any disputes
concerning your separation from Company. Any breach of this confidentiality provision shall be deemed a material breach of this Agreement. 

12. No Admission of Liability. This Agreement is not and shall not be construed or contended by you to be an admission or evidence of
any wrongdoing or liability on the part of Releasees, their representatives, heirs, executors, attorneys, agents, partners, officers, shareholders, directors, employees, subsidiaries, affiliates, divisions, successors or assigns. This Agreement
shall be afforded the maximum protection allowable under California Evidence Code Section 1152 and/or any other state or Federal provisions of similar effect. 

13. Entire Agreement. This Agreement constitutes the entire agreement between you and the Company with respect to the subject matter
hereof and supersedes all prior negotiations and agreements, whether written or oral, relating to such subject matter other than the confidentiality agreement referred to in paragraph 4, above. You acknowledge that neither Releasees nor their agents
or attorneys have made any promise, representation or warranty whatsoever, either express or implied, written or oral, which is not contained in this Agreement for the purpose of inducing you to execute the Agreement, and you acknowledge that you
have executed this Agreement in reliance only upon such promises, representations and warranties as are contained herein. 

  
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 14. Modification. It is expressly agreed that this Agreement may not be altered, amended,
modified, or otherwise changed in any respect except by another written agreement that specifically refers to this agreement, executed by authorized representatives of each of the parties to this Agreement. 

15. Review of Separation Agreement/ADEA Waiver. As required by the ADEA, we hereby advise you to consult with your own attorney
concerning the terms of this Agreement. You further understand that you may take up to twenty-one (21) days to consider this Agreement and, by signing below, affirm that you were advised to consult with an attorney prior to signing this
agreement. You also understand you may revoke this agreement within seven (7) days of signing this document and that the compensation to be paid to you pursuant to your employment agreement will be paid only at the end of that seven
(7) day revocation period. 
 16. Miscellaneous. This Agreement will bind the heirs, personal representatives, successors
and assigns of both you and the Company, and inure to the benefit of both you and the Company, their heirs, successors and assigns. If any provision of this Agreement is determined to be invalid or unenforceable, in whole or in part, this
determination will not affect any other provision of this Agreement and the provision in question will be modified by the court so as to be rendered enforceable. This Agreement will be deemed to have been entered into and will be construed and
enforced in accordance with the laws of the State of California as applied to contracts made and to be performed entirely within California. 

If you agree to abide by the terms outlined in this Agreement, please sign the attached copy and return it to me. I wish you the best in your
future endeavors. 
  

			
	Sincerely,
	
	AQUANTIA CORP.
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

 I have read, understand and agree to the terms set forth above: 

 

							
	  
	 		 	Date:	 	  

	Faraj Aalaei	 		 		 	

  
 4EX-10.7

 Exhibit 10.7 
  

 
 December 10, 2015 

Mr. Mark Voll 
 Offer of Employment by
Aquantia Corp 
 Dear Mark, 
 I am very
pleased to confirm our offer to you of full-time employment with Aquantia Corp. (the “Company”). You will report to Faraj Aalaei, the President and CEO„ in the exempt position of Chief Financial Officer. Your specific duties and
responsibilities will be explained to you by your manager. 
 The terms of our offer and the benefits currently provided by the Company are
as follows: 
 1. Starting Salary. Your starting salary will be Twenty Five Thousand Dollars ($25,000.00) per month; when annualized,
your salary will be Three Hundred Thousand Dollars and ($300,000.00) per year and will be subject to an annual review. 
 2. Annual
Discretionary Bonus Program. Aquantia has established an annual bonus program for all of its employees and executives based on the Company’s targets and individual objectives. Your target annual bonus will be Thirty Five Percent
(35%) of your base salary; eligibility requirements will be explained in further detail upon your hire. Employees starting employment after January 1st in a plan year will receive a pro-rated incentive, calculated from the date of hire.

 3. Benefits. In addition, you will be eligible to participate in ‘health insurance, bonus and other employee benefit plane established
by the Company for its employees from time to time. A brief summary of the benefits currently offered is attached to this letter. 
 Except as provided
below, the Company reserves the right to change or otherwise modify, in its sole discretion, the preceding terms of employment, as well as any of the terms set forth herein at any time in the future. 

4. Confidentiality. As an employee of the Company, you will have access to certain confidential information of the Company and you may, during
the course of your employment, develop certain information or inventions that will be the property of the Company. To protect the interests of the Company, you will need to sign the Company’s standard “Employee invention Assignment and
Confidentiality Agreement” as a condition of your employment. We wish to impress upon you that we do not want you to, and we hereby direct you not to, bring with you any confidential or proprietary material of any former employer or to violate
any other obligations you may have to any former employer. During the period that you render services to the Company, you agree to not engage in any employment, business or activity that is in any way competitive with the business or proposed
business of the Company. You will disclose to the Company in writing any other gainful employment, business or activity that you are currently associated with or participate in that competes with the Company. You will not assist any other person or
organization in competing with the Company or in preparing to engage in competition with the business or proposed business of the Company. You represent that your signing of this offer letter, agreement(s) concerning stock options granted to you, if
any, under the Plan (as defined below) and the Company’s Employee invention Assignment and Confidentiality Agreement and your commencement of employment with the Company will not violate any agreement currently place between yourself and
current or past employers. 
  
  

  
 Aquantia Corp., 105 E.
Tasman Dr., San Jose, CA 95134 • www.aquantia.com 

 5. Options. We will recommend to the Board of Directors of the Company that you be granted the
opportunity to purchase up to Eight Hundred Fifty Thousand (850,000) shares of Common Stock of the Company under our 2015 Equity incentive Plan (the “Plan”) at the fair market value of the Company’s Common
Stock, as determined by the Board of Directors on the date the Board approves such grant. The shares you will be given the opportunity to purchase will vest at the rate of 25% at the end of your first anniversary with the Company, and an additional
2.08333% per month thereafter, so long as you remain employed by the Company: 
 However: the grant of such options by the Company is
subject to the Board’s approval and this promise to recommend such approval is not a promise of compensation and is not intended to create an obligation on the part of the Company. Further details on the Plan and any specific option grant to
you will be provided upon approval of such grant by the Company’s Board of Directors„ 
 6. At Will Employment. While we look forward
to a long and profitable relationship, should you decide to accept our offer, you will be an at-will employee of the Company, which means the employment relationship can be terminated by either of us for any reason, at any time, with or
‘without prior notice and with our without cause: Any statements or representations to the contrary (and, indeed, any statements contradicting any provision in this letter) should be regarded by you as ineffective: Further, your participation
in any stock option or benefit program is not to be regarded as assuring you of continuing employment for any particular period of time. Any modification or change in your at will employment status may only occur by way of a written employment
agreement signed by you and the Chief Executive Officer of the Company. 
 7. Authorization to Work. Please note that because of employer
regulations adopted in the Immigration Reform and Control Act of 1986, within three (3) business days of starting your new position you will need to present documentation demonstrating that you have authorization to work in the United States.
If you have questions about this requirement, which applies to U.S. citizens and non-U.S. citizens alike, you may contact our personnel office. 
 8.
Arbitration. You and the Company shall submit to mandatory and exclusive binding arbitration of any controversy or claim arising out of, or relating to, this Agreement or any breach hereof, provided however, that the
parties retain their right to, and shall not be prohibited, limited or in any other way restricted from, seeking or obtaining equitable relief from a court having Jurisdiction over the parties. Such arbitration shall be governed by the Federal
Arbitration Act and conducted through the American Arbitration Association in the [State of California, Santa Clara County] before a single neutral arbitrator, in accordance with the National Rules for the Resolution of Employment Disputes of the
American Arbitration Association in effect at that time, The parties may conduct only essential discovery prior to the hearing, as defined by the AAA arbitrator. The arbitrator shall issue a- written decision that contains the essential findings and
conclusions on which the decision is based. You shall bear only those costs of arbitration you would otherwise bear had you brought a claim covered by this Agreement in court. Judgment upon the determination or: award rendered by the arbitrator may
be entered in any court having jurisdiction thereof. 
 9. Background Check. This offer is contingent upon a successful employment verification
of criminal, education, and employment background. This offer can be rescinded based upon data received in the verification. 
 10. Acceptance.
This offer will remain open until 5:00pm on Tuesday, December 15, 2015. If you decide to accept our offer, and I hope you will, please sign the enclosed copy of this letter in the space indicated along with your expected start date and
return it to me. Your signature will acknowledge that you have read and understood and agreed to the terms and conditions of this offer letter and the attached documents, if any. Should you have anything else that you wish to discuss, please do not
hesitate to call me. 
  
  

  
 Aquantia Corp., 105 E.
Tasman Dr., San Jose, CA 95134 • www.aquantia.com 

 We look forward to the opportunity to welcome you to the Company. 

Very truly yours, 
  

					
	 /s/ Faraj Aalaei
	  		  	Date signed: December 10, 2015            

 I have read and understood this offer letter and hereby acknowledge, accept and agree to the terms as set forth above and
further acknowledge that no other commitments were made to me as part of my employment offer except as specifically set forth herein: 
  

					
	 /s/ Mark Voll
	  		 	Date signed: December 14, 2015            
	(Candidate Name)	  		 	
		  		 	Expected Start date: January 11, 2016

  
  

  
 Aquantia Corp., 105 E.
Tasman Dr., San Jose, CA 95134 • www.aquantia.com 

 

 
 December 9, 2016 

Mr. Mark Voll 
 70 Morningside Circle 

Los Altos, Ca 94022 
 First Amendment to Offer
of Employment by Aquantia Corp. 
 This First Amendment (the “Amendment”) to the Offer of Employment by Aquantia Corp. (the
“Company”) between the Company and Mark Voll, dated December 10, 2015 (the “Offer Letter”), is made and entered into as of December 9, 2016, by and between the Company and Mark Voll. The following Sections 7
and 8 are hereby added immediately following Section 6 of the Offer Letter, and Sections 7, 8, 9 and I 0 of the Offer Letter (and any references to such Sections therein) are hereby deemed to be renumbered Sections 9, 10, II and 12,
respectively: 
 7. Severance Benefits. 

7.1 Termination Without Cause or Resignation for Good Reason After a Change in Control. If your employment ends because of a Covered
Termination on or within eighteen ( 18) months after a Change in Control, you will be eligible to receive a lump sum cash severance payment in an amount equal to twelve ( 12) months of your then current base salary (ignoring any reduction in salary
that forms the basis for a resignation for Good Reason), Jess any applicable withholdings and deductions, and effective as of your termination date, all of your then-outstanding and unvested compensatory equity awards will become vested.
Additionally, you will receive 12 months of COBRA benefits starting from your termination date. 
 7.2 Payment Terms. As a precondition to
receiving any severance benefits as provided in this Section 7, you must sign, and allow to become effective by the 60th day following your Separation from Service, a form of release satisfactory to the Company. You must also continue to comply
with all your continuing obligations to the Company under this offer letter and your Employee Invention Assignment and Confidentiality Agreement, and must refrain from engaging, directly or indirectly, in any employment or other business activity
which competes with the business of the Company. Your cash severance will be paid in the form of a lump sum payment paid on the 60th day following your Separation from Service. 

7.3 Application of 409A. It is intended that each installment of the severance payments provided for in this after letter is a separate
“payment” for purposes of Treasury Regulation Section 1.409A-2(b)(2)(i). For the avoidance of doubt, it is intended that the severance payments satisfy, to the greatest extent possible, the exemptions from the application of
Section 409A of the Internal Revenue Code of 1986, as amended (“Code”), provided under Treasury Regulation Sections 1.409A-1(b)(4), 1.409A-1(b)(5) and l.409A-1(b)(9). However, if the
Company (or, if applicable, the successor entity thereto) determines that all or any portion of the severance payments constitute “deferred compensation” under Section 409A of the Code and you are, on your Separation from Service, a
“specified employee” of the Company or any successor entity thereto, as such term is defined in 

 
Section 409A(a)(2)(B)(i) of the Code, then, solely to the extent necessary to avoid the incurrence of the adverse personal tax consequences under Section 409A of the Code, the timing of
the severance payments shall be delayed as follows: on the earlier to occur of (i) the date that is six (6) months and one (1) day after your Separation from Service, or (ii) the date of your death (such earlier date, the
“Delayed Initial Payment Date”), and the Company (or the successor entity thereto, as applicable) shall (1) pay you a lump sum amount equal to the sum of the severance payments that you would otherwise have received through the
Delayed Initial Payment Date but for the delay imposed by this paragraph, and (2) begin paying the balance of the severance payments in accordance with the payment schedule set forth above. 

8. Definitions. For purposes of this offer letter, capitalized terms used herein shall have the following meanings: 

8.1 The occurrence of any of the following shall constitute “Cause” for termination: 

(a) willful neglect, failure or refusal by you to perform your employment duties (except resulting from your incapacity due to illness) as reasonably directed
by the Company; (b) willful misconduct by you in the performance of your employment duties; (c) your indictment for a felony (other than traffic related offense) or a misdemeanor involving moral turpitude; (d) your commission of an
act involving personal dishonesty including, but not limited to, an act constituting misappropriation or embezzlement of Company property; or (e) your material breach of this offer letter or any other agreement between you and the Company,
including without limitation, your Employee Invention Assignment and Confidentiality Agreement. The determination of Cause will be made by the Company in its sole discretion; provided, however, that Cause shall not be deemed to exist under clauses
(a) or (e) above unless you have been given notice by the Company of the existence of Cause and, if the existence of Cause is reasonably curable, a reasonable opportunity to cure the existence of such Cause. You will only be entitled to
one such notice and cure period. 
 8.2 “Covered Termination” means a termination of your employment with the Company, its
affiliates and any successor corporation or entity, which termination constitutes a Separation from Service, and which termination is caused either by (a) a termination by the Company (or any successor corporation or entity) without Cause and
other than as a result of your death or disability or (b) your resignation for Good Reason. 
 8.3 “Good Reason” means
a voluntary resignation by you from all positions you then hold with the Company, its affiliates and any successor corporation or entity in the event of (1) a reduction in your salary of more than ten percent (excluding pro rata reductions
across all executives in the Company), which reduction the parties have determined to be a material reduction, (2) your title is materially adversely changed, such that you do not have a title of Chief Financial Officer or its equivalent or any
title of superior stature, which change in title is determined by the parties to be a material breach of this Agreement, (3) a material reduction in your responsibilities to less than those typically held by a Chief Financial Officer, which
change is determined by the parties to be a material breach of this offer letter agreement, (4) a relocation of the offices that you are required to work to a location more than fifty (50) miles from the office at which you previously were
required to work and which results in a material change in the geographic location at which you perform services, or (5) any other material breach by the Company (or any successor corporation or entity) of this Agreement or any other agreements
entered into by you and the Company (or any successor corporation or entity) under which you provide services. However, Good Reason shall only exist if you provide written notice to the Company’s Board (or the board of directors of any
successor corporation or entity) of any such material adverse change or breach within thirty (30) days after such change or breach first occurs, and the Company (or any successor corporation or entity) fails to cure such change or breach (to
the extent that such change or breach is capable of cure) 

 
within ninety (90) days after written notice thereof, and your resignation for Good Reason is effective not later than ninety (90) days after the expiration of such cure period. 

8.4 “Separation from Service” means your separation from service as provided under Treasury Regulation
Section 1.409A-1(h) without regard to any alternative definitions thereunder. 
 8.5 “Change in Control” means the
sale, lease, or other disposition of all or substantially all of the Company’s assets or the Company’s merger into or consolidation with any other corporation or other entity, or any other corporate reorganization, in which the holders of
the Company’s outstanding voting stock immediately prior to such transaction own immediately after such transaction, securities representing less than a majority of the voting power of the corporation or other entity surviving such transaction;
provided that, a Change in Control shall not include a sale of assets, merger or other transaction effected exclusively for the purpose of changing the domicile of the Company. 

Very truly yours, 
  

					
	 /s/ Faraj Aalaei
	 	Date:	 	December 13, 2016            
	Faraj Aalaei	 		 	
			
	Agreed and accepted:	 		 	
			
	 /s/ Mark Voll
	 	Date:	 	December 13, 2016            
	Mark Voll

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