Document:

Exhibit 10.2 -- Employment Agreement

 Exhibit 10.2 
 EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT AGREEMENT (“Agreement”) is
entered into on the 12th day of September, 2007 to be effective on and as of the 12th day of September, 2007 (the “Effective Date”), by and between Integral Systems, Inc., a Maryland corporation (the “Company”), and Elaine M.
Brown (the “Executive”). 
 NOW, THEREFORE, in consideration of the mutual promises made below, the parties agree as
follows: 
  

	 	1.	Employment, Duties and Acceptance. 

 1.1 Employment. 
 (a) Effective upon the Effective Date, the Company shall employ the Executive as its
Executive Vice President, Administration. The Executive shall have such powers, perform such duties and fulfill such responsibilities as may be determined by the Chief Executive Officer of the Company from time to time. The Executive accepts such
employment and shall perform her duties faithfully and to the best of her abilities. 
 (b) The Executive shall devote her full working time
and creative energies to the performance of her duties hereunder and will at all times devote such additional time and efforts as are reasonably sufficient for fulfilling the significant responsibilities entrusted to her. So long as such activities,
in the aggregate, do not interfere with the performance by the Executive of her duties hereunder: (i) the Executive shall be permitted a reasonable amount of time to supervise her personal, passive investments; and (ii) the Executive shall
be permitted a reasonable amount of time to participate (as board member, officer or volunteer) in civic, political and charitable activities. 
 1.2 Place of Employment. The Executive’s principal place of employment shall be in Lanham, Maryland, subject to such travel as may be reasonably required by her employment pursuant to the terms hereof. 

 

	 	2.	Term of Employment. 

 2.1 Term of
Employment. Executive agrees that the initial term of this Agreement shall be for a period of three (3) years commencing on the date first written above (the “Effective Date”) and will continue until the third anniversary
of the Effective Date (as may be extended, the “Term”). At the end of the initial Term or at the end of any twelve (12) month renewal period (as described in Section 2.2 below), the Term of this Agreement may
automatically extend as provided below in Section 2.2. Notwithstanding anything to the contrary contained herein, the Company may terminate Executive’s employment with or without Cause. 

 2.2 Renewal Periods. If this Agreement has not been terminated earlier in accordance with the
provisions of this Agreement, at the end of the initial Term or any twelve (12) month renewal period, the Term shall be extended automatically for an additional twelve (12) month period unless either party provides written notice of
non-renewal to the other party at least one hundred twenty (120) days prior to the last day of the Term or any renewal period, as applicable. 
  

	 	3.	Compensation. 

 3.1
Salary. As compensation for all services to be rendered pursuant to this Agreement, the Company shall pay to the Executive during the Term a salary of $233,064.00 per annum (the “Base Salary”), which shall be pro-rated
for calendar year 2007, less such deductions as shall be required to be withheld by applicable laws and regulations or as otherwise authorized by the Executive. The Base Salary shall accrue from and after the Effective Date, and shall be payable
during the Term, in arrears in equal periodic installments and in accordance with the practices of the Company in effect from time to time for the payment of salaries to employees of the Company, but in any event not less frequently than monthly.
The Executive’s Base Salary shall be reviewed at least annually and may be increased (but not decreased) based upon the evaluation of the Executive’s performance and the compensation policies of the Company in effect at the time of each
such review. 
 3.2 Additional Compensation. During the Term, Executive shall be entitled to participate, in
accordance with the terms thereof and in a manner substantially similar to other similarly situated executive officers, in any present or future bonus, profit sharing, stock option (whether incentive or non qualified) or other employee compensation
or incentive plan adopted by the Company. 
 3.3 Participation in Executive Officer Benefit Plans; Vacation. The
Executive shall be permitted during the Term, if and to the extent eligible, to participate in any group life, hospitalization or disability insurance plan, health program, 401(k) pension or similar benefit plan of the Company which may be available
to other executive officers of the Company generally on the same terms as such other executive officers. The Executive shall receive vacation in accordance with the vacation policy of the Company. 
 3.4 Expenses. The Company shall pay or reimburse the Executive for all ordinary, necessary and reasonable expenses (including,
without limitation, travel, meetings, dues, subscriptions, fees, educational expenses, computer equipment, mobile telephones, professional insurance, and the like) actually incurred or paid by the Executive during the Term in the performance of the
Executive’s services under this Agreement, upon presentation of expense statements or vouchers or such other supporting information as may be required by the policies and procedures of the Company in effect from time to time. 
 3.5 Withholding. The Company is authorized to withhold from the amount of any Base Salary and any other things of value paid to or
for the benefit of the Executive, all sums 

  

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authorized by the Executive or required to be withheld by law, court decree, or executive order, including (but not limited to) such things as income taxes,
employment taxes, and employee contributions to fringe benefit plans sponsored by the Company. 
  

	 	4.	Termination. 

 4.1
General. The employment of the Executive hereunder shall terminate as provided in Section 2, unless earlier terminated in accordance with the provisions of this Section 4. 
 4.2 Termination Upon Mutual Agreement. The Company and the Executive may, by mutual written agreement, terminate this Agreement
and/or the employment of the Executive at any time. 
 4.3 Death or Disability of Executive. 
 (a) The employment of the Executive hereunder shall terminate upon (i) the death of the Executive, and (ii) at the option of the Company upon
not less than thirty (30) days’ prior written notice to the Executive or her personal representative or guardian, if the Executive suffers a “Total Disability” (as defined in Section 4.3(b) below). 
 (b) For purposes of this Agreement, “Total Disability” shall mean (i) if the Executive is subject to a legal decree of incompetency (the
date of such decree being deemed the date on which such disability occurred), or (ii) the written determination by a physician selected by the Company that, because of a medically determinable disease, injury or other physical or mental
disability, the Executive is unable substantially to perform each of the material duties of the Executive required hereby, and that such disability has lasted for the immediately preceding ninety (90) days and is, as of the date of
determination, reasonably expected to last an additional ninety (90) days or longer after the date of determination, in each case based upon medically available reliable information, and the provision of clear and convincing evidence by the
Company of the Executive’s inability substantially to perform each material duty hereunder in support of such determination by the physician. 
 (c) Any leave on account of illness or temporary disability which is short of “Total Disability” shall not constitute a breach of this Agreement by the Executive and in no event shall any party be entitled to terminate this
Agreement for “Cause” (as defined in Section 4.4 below) due to any such leave. All physicians selected hereunder shall be Board certified in the specialty most closely related to the nature of the disability alleged to exist.

 4.4 Termination For Cause. The Company may, upon written notice to the Executive specifying in reasonable
detail the reason therefor, terminate the employment of the Executive at any time for “Cause” (as defined below). For purposes of this Agreement, “Cause” means (i) the material failure of the Executive to perform her duties
under this Agreement, or to follow the Company’s policies and procedures applicable to executive officers of the Company in effect from time to time, after notice and a reasonable opportunity to cure; (ii) willful 

  

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malfeasance by the Executive in connection with the performance of her duties under this Agreement; (iii) the Executive being convicted of, or pleading
guilty or nolo contendere to, or being indicted for a felony or other crime involving theft, fraud or moral turpitude; (iv) fraud or embezzlement against the Company; (v) the failure of the Executive to obey in any material respects any
proper written direction of the Chief Executive Officer of the Company that is not inconsistent with this Agreement; (vi) the material violation by the Executive of any of the provisions of Section 5 of this Agreement; or
(vii) based on the results of the investigation by the Securities and Exchange Commission, the Board of Directors determines that the Executive’s conduct or actions represented willful malfeasance in connection with the performance of her
job. 
 4.5 Payments Upon Termination. 
 (a) The Company may at any time during the Term terminate the Executive without Cause. In the event the Executive’s employment is terminated by the Company without Cause during the Term, then the Company shall
pay (on the same schedule used to pay Base Salary to the Executive during the Term) the Executive (in lieu of any severance benefits as described in the Company’s employment manual as in effect from time to time and in lieu of any amounts that
would have otherwise been payable under that certain Change in Control Agreement dated August 2, 2006 by and between the Company and the Executive (the “Change in Control Agreement”) or that certain Transition Bonus Agreement dated
August 7, 2006 by and between the Company and the Executive (the “Transaction Bonus Agreement”)): 
 (1) the Base Salary to
which the Executive would have been entitled pursuant to Section 3.1 of this Agreement had the Executive remained in the employ of the Company for a period commencing upon the date of such termination and ending on the first anniversary
of the date of termination (“Termination Coverage Period”); provided, however, that in the event that during the Termination Coverage Period such period Executive receives compensation from a third party employer (“Third Party
Employer Compensation”), then Executive shall promptly provide written evidence of such compensation and any payments under this Section 4.5(a) shall be net of such Third Party Employer Compensation, and 
 (2) the Executive’s COBRA Premiums (as defined below in this Section 4.5(a)) for the Termination Coverage Period, or the portion
thereof, that Executive or Executive’s dependents are eligible for such COBRA coverage. 
 The term “COBRA Premiums” shall mean the amount of
the premiums due for Executive and Executive’s covered dependents (as defined under COBRA) under any so-called COBRA continuation coverage under any of the Company’s group health insurance programs in which Executive is eligible and elects
to be covered thereunder. The Company shall make such COBRA Premiums payments within thirty (30) days of the Executive’s furnishing such documentation concerning coverage under such contract or premium amounts as the Company reasonably
requires. 
  

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 (b) In the event the Executive’s employment is terminated (i) by the Company for Cause, or
(ii) voluntarily by the Executive, then the Company shall have no duty to make any payments or provide any benefits to the Executive pursuant to this Agreement other than payment of the amount of the Executive’s Base Salary accrued through
the date of termination of her employment and any other benefits the Executive is then due pursuant to the employment benefit plans of the Company. 
 (d) Upon termination of Executive’s employment for death or due to Total Disability, the Company shall pay to the Executive, guardian, personal representative or estate, as the case may be, in addition to any
insurance or disability benefits to which Executive may be entitled hereunder, all amounts accrued or vested prior to such termination. 
 (e) Upon termination of Executive’s employment for death, due to Total Disability or without Cause, the Executive, or the Executive’s guardian, personal representative or estate, as the case may be, shall be entitled to a bonus
(consistent with the provisions of Section 3.2 of this Agreement) for the fiscal year in which the date of termination of employment occurs, prorated for the period of employment in such fiscal year; provided, however, that such bonus
will be withheld and not deemed earned only in the event that: (i) the Company reasonably determines that Executive had not substantially met, to the extent reasonably obtainable, Executive’s bonus related goals as of the date of
termination of employment or (ii) no other similarly situated executive actually receives a bonus for such fiscal year. Any such bonus deemed earned, shall be payable at the time in which other similarly situated Company executive’s
receive their bonus payments. 
 (f) In the event that this Agreement is not renewed either after the initial Term or after a renewal
period, then the Company shall have no duty to make any payments or provide any benefits to the Executive pursuant to this Agreement other than payment of the amount of the Executive’s Base Salary accrued through the date of termination of her
employment and any other benefits the Executive is then due pursuant to the employment benefit plans of the Company. 
 4.7 No
Disparaging Comments Upon Termination. 
 Upon termination of this Agreement, the Company will refrain from making any
disparaging remarks about the Executive. Similarly, the Executive shall refrain from making any disparaging remarks about the Company or the businesses, services, products, stockholders, officers, directors or other personnel of the Company or any
of its affiliates. 
  

	 	5.	Certain Covenants of the Executive. 

 5.1 Restrictive Covenants. 
 (a) The parties hereto agree that as used herein “Confidential
Information” means all information which becomes known to the Executive as a consequence of 

  

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her employment by the Company and includes, but is not limited to, information about the Company’s customers, methods of operation, prospective and
executed contracts, trade secrets, business contacts, customer lists, and all technological, business, financial, accounting, statistical and personnel information regarding the Company. The parties hereto further agree and stipulate that this
Confidential Information was developed by the Company at considerable expense, that this information is a valuable asset and part of the Company’s goodwill, that this information is vital to the Company’s success and is the sole property
of the Company. 
 (b) The Executive recognizes and acknowledges that during her employment by the Company, the Executive has, or will,
become familiar with the Company’s Confidential Information. 
 (c) The Executive recognizes and acknowledges that the Company is
engaged in the business of, among other things, building satellite ground systems and equipment for command and control, integration and test, data processing and simulation (the “Business”). The Business is a highly competitive
enterprise, so that any unauthorized disclosure or unauthorized use by the Executive of the Confidential Information protected under this Agreement, whether during her employment with the Company or after its termination, would cause immediate,
substantial and irreparable injury to the Business and the goodwill of the Company. 
 (d) The Executive agrees that upon termination of her
employment with the Company for any reason, whether voluntary or involuntary or with or without Cause, she will surrender to the Company every item and every document which is the Company’s property or will completely remove from the
Executive’s personal property such Confidential Information in whatever form (e.g. cell phones, PDA’s, personal computers, etc.). All such documents and Confidential Information are the sole and absolute property of the Company. At the
written request of the Company, the Executive shall provide the designated representative of the Company a certificate containing the following statement: “The Executive hereby certifies that she has notified the Company’s designated
representative of all Confidential Information residing on any personal property of the Executive to which the Executive is aware of after due review and inspection and has removed and destroyed (unless otherwise directed in writing by the Company)
all Confidential Information from all personal property of the Executive.” Thereafter, in the event that the Executive becomes aware of any further Confidential Information on the Executive’s personal property, the Executive shall notify
the Company in writing and again comply with the immediately preceding sentence. 
 (e) The Executive agrees that during her employment and
following the termination of that employment for any reason, whether voluntary or involuntary or with or without Cause, she will not, on her own behalf or as a partner, officer, director, employee, agent, or consultant of any other person or entity,
directly or indirectly, disclose the Company’s Confidential Information to any person or entity other than agents of the Company, and she will not use or aid others in obtaining or using any such Confidential Information. The Executive’s
obligations under this Section 5.1(e) shall not be deemed violated in the event that (i) the Executive discloses any Confidential Information pursuant to order of a court of competent 

  

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jurisdiction, provided the Executive has notified the Company of such potential legal order and provided the Company with the opportunity to challenge or
limit the scope of the disclosure, or (ii) the information becomes generally available from a source other than the Company, any of its affiliates, or any of their employees when such source is not legally prohibited, to the best of the
Executive’s knowledge, from making such information available. 
 (f) All inventions, prototypes, discoveries, improvements,
innovations and the like (“Inventions”) and all works of original authorship or images that are fixed in any tangible medium of expression and all copies thereof (“Works”) which are designed, created or developed by the
Executive, solely or in conjunction with others, in the course of performance of the Executive’s duties which relate to the Business, shall be made or conceived for the exclusive benefit of and shall be the exclusive property of the Company.
The Executive shall immediately notify the Company upon the design, creation or development of all Inventions and Works. At any time thereafter, the Executive, at the request and expense of the Company, shall execute and deliver to the Company all
documents or instruments which may be necessary to secure or perfect the Company’s title to or interest in the Inventions and Works, including but not limited to applications for letters of patent, and extensions, continuations or reissues
thereof, applications for copyrights and documents or instruments of assignment or transfer. All Works are agreed and stipulated to be “works made for hire,” as that term is used and understood within the Copyright Act of 1976, as amended
or any successor statute. To the extent any Works are not deemed to be works made for hire as defined above, and to the extent that title to or ownership of any Invention or Work and all other rights therein are not otherwise vested exclusively in
the Company, the Executive shall, without further consideration but at the expense of the Company, assign and transfer to the Company the Executive’s entire right, title and interest (including copyrights and patents) in or to those Inventions
and Works. 
 (g) The Executive agrees that during her employment with the Company and for a period commencing on the termination of such
employment and ending (i) in the event the Executive’s employment is terminated in accordance with Section 2 by the Company without Cause, at the end of the Termination Coverage Period, or (ii) in the event the
Executive’s employment terminates for any other reason (whether voluntarily or involuntarily), on the date one (1) year following such date of termination, she will not, on her own behalf or as a partner, officer, director, employee,
agent, or consultant of any other person or entity, directly or indirectly, engage or attempt to engage in a business which competes against the Business of the Company in any geographic area in which the Company engages in the Business. This
subsection shall not be construed as precluding the Executive from working as an employee or consultant for a separate business unit of a competitor of the Company, if the separate business unit is not in competition with the Business. 

(h) The Executive agrees that during her employment and for a period of twenty four (24) months after the termination of such employment,
whether voluntary or involuntary or with or without Cause, she will not, on her own behalf or as a partner, officer, director, employee, agent, or consultant of any other person or entity, directly or indirectly, solicit or induce (or attempt to
solicit or induce) any employees of the Company to leave their employment with the Company and/or consider employment with any other person or entity. 
  

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 5.2 Rights and Remedies Upon Breach. If the Executive breaches, or threatens, either
in writing or as evidenced by a demonstrable course of conduct, to commit a breach of, any of the provisions of Section 5.1 (the “Restrictive Covenants”), the Company shall, in addition to its right immediately to terminate
this Agreement, have the right and remedy (which right and remedy shall be independent of others and severally enforceable, and which shall be in addition to, and not in lieu of, any other rights and remedies available to the Company under law or in
equity) to have the Restrictive Covenants specifically enforced by any court having equity jurisdiction, it being acknowledged and agreed that any such breach or threatened breach could cause irreparable injury to the Company or its affiliates and
that money damages may not provide adequate remedy to the Company. 
 5.3 Covenants Currently Binding the Executive. The
Executive warrants that her employment by the Company, and her execution, delivery and performance of this Agreement, will not (a) violate any non-disclosure agreements, covenants against competition, or other restrictive covenants made by the
Executive to or for the benefit of any previous employer or partner, or (b) violate or constitute a breach or default under, any statute, law, judgment, order, decree, writ, injunction, deed, instrument, contract, lease, license or permit to
which the Executive is a party or by which the Executive is bound. 
 5.4 Litigation. There is no litigation, proceeding
or investigation of any nature (either civil or criminal) which is pending or, to the best of the Executive’s knowledge, threatened against or affecting the Executive or which would adversely affect her ability to substantially perform the
duties herein. 
 5.5 Review. The Executive has received or been given the opportunity to review the provisions of this
Agreement, and the meaning and effect of each provision, with independent legal counsel of the Executive’s choosing. 
 5.6
Severability of Covenants. The Executive acknowledges and agrees that the Restrictive Covenants are reasonable and valid in geographical and temporal scope and in all respects. If any court determines that any of the Restrictive
Covenants, or any part thereof, is invalid or unenforceable, the remainder of the Restrictive Covenants shall not thereby be affected and shall be given full effect, without regard to the invalid portions. 
 5.7 Blue-Penciling. If any court determines that any of the Restrictive Covenants, or any part thereof, is unenforceable because of
the duration or geographic scope of such provision, such court shall have the power to reduce the duration or scope of such provision, as the case may be, and, in its reduced form, such provision shall then be enforceable and shall be enforced. If
any such court declines to so revise such covenant, the parties agree to negotiate in good faith a modification that will make such duration or scope enforceable. 
  

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	 	6.	Dispute Resolution. 

 6.1
Costs of Arbitration. If either party brings an arbitration proceeding to enforce its rights under this Agreement, the substantially prevailing party (as determined by the arbitrator) shall be entitled to recover from the other
party all expenses incurred by it in preparing for and in trying the case, including, but not limited to, investigative costs, court costs and reasonable attorneys’ fees. 
 6.2 No Jury Trial. NEITHER PARTY SHALL ELECT A TRIAL BY JURY IN ANY ACTION, SUIT, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR IN
ANY WAY CONNECTED WITH A BREACH OF THER AGREEMENT. 
 6.3 Personal Jurisdiction. Both parties agree to submit to the
jurisdiction and venue of the state courts in the State of Maryland as to matters involving enforcement of ther Agreement including any award under an arbitration proceeding. 
 6.4 Arbitration. SUBJECT TO THE COMPANY’S RIGHT TO SEEK INJUNCTIVE RELIEF AS SPECIFIED IN THER AGREEMENT, ANY DISPUTE BETWEEN
THE PARTIES HERETO ARISING UNDER OR RELATING TO THER AGREEMENT (INCLUDING, BUT NOT LIMITED TO, THE AMOUNT OF DAMAGES, THE NATURE OF THE EXECUTIVE’S TERMINATION OR THE CALCULATION OF ANY BONUS OR OTHER AMOUNT OR BENEFIT DUE) SHALL BE RESOLVED IN
ACCORDANCE WITH THE PROCEDURES OF THE AMERICAN ARBITRATION ASSOCIATION. ANY RESULTING HEARING SHALL BE HELD IN LANHAM, MARYLAND. THE RESOLUTION OF ANY DISPUTE ACHIEVED THROUGH SUCH ARBITRATION SHALL BE BINDING AND ENFORCEABLE BY A COURT OF COMPETENT
JURISDICTION. 
  

	 	7.	Other Provisions. 

 7.1
Notices. Any notice or other communication required or which may be given hereunder shall be in writing and shall be delivered personally, telegraphed, telexed, sent by facsimile transmission or sent by certified, registered or
express mail, postage paid, and shall be deemed given when so delivered personally, telegraphed, telexed or sent by facsimile transmission or, if mailed, four days after the date of mailing, as follows: 
  

	 	(i)	if to the Company, to: 

 Integral Systems,
Inc. 
 5000 Philadelphia Way 
 Lanham, Maryland 
 Fax: (301) 731-3183 
 Attention: Chief Executive Officer 
  

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 with copies to: 
 Venable LLP 
 575 7th Street, NW 
 Washington, DC 20004 
 Fax: (202) 344-8300 
 Attention: Wallace E. Christner, Esq. 
  

	 	(ii)	if to the Executive, to: 

 Elaine M. Brown

 10731 Judy Lane 
 Columbia, MD 21044 
 Fax: (410) 531-1823 
 Any party may by notice given in accordance with this Section to the other party designate another address or person for receipt of notices hereunder.

 7.2 Entire Agreement. This Agreement contains the entire agreement between the parties with respect to the subject
matter hereof and supersedes all prior agreements and understandings, written or oral, with respect thereto, including without limitation any severance benefits as described in the Company’s employment manual as in effect from time to time and
the Change in Control Agreement and the Transition Bonus Agreement, both of which agreements are hereby terminated and shall be of no further force and effect. 
 7.3 Waivers and Amendments. This Agreement may be amended, modified, superseded, canceled, renewed or extended, and the terms and conditions hereof may be waived, only by a written instrument
signed by the Executive and a duly authorized officer of the Company (each, in such capacity, a party) or, in the case of a waiver, by the party waiving compliance. No delay on the part of any party in exercising any right, power or privilege
hereunder shall operate as a waiver thereof, nor shall any waiver on the part of any party of any right, power or privilege hereunder, nor any single or partial exercise of any right, power or privilege hereunder, preclude any other or further
exercise thereof or the exercise of any other right, power or privilege hereunder. 
 7.4 Governing Law. This Agreement
has been negotiated and is to be performed in the State of Maryland, and shall be governed and construed in accordance with the laws of the State of Maryland applicable to agreements made and to be performed entirely within such State. 

7.5 Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original but all
of which together shall constitute one and the same instrument. 
  

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 7.6 Confidentiality. Neither party shall disclose the contents of this Agreement or
of any other agreement they have simultaneously entered into to any person, firm or entity, except the agents or representatives of the parties, or except as required by law. 
 7.7 Word Forms. Whenever used herein, the singular shall include the plural and the plural shall include the singular. The use of
any gender or tense shall include all genders and tenses. 
 7.8 Headings. The Section headings have been included for
convenience only, are not part of this Agreement, and are not to be used to interpret any provision hereof. 
 7.9 Binding Effect
and Benefit. This Agreement shall be binding upon and inure to the benefit of the parties, their successors, heirs, personal representatives and other legal representatives. This Agreement may be assigned by the Company to any entity
which buys substantially all of the Company’s assets. However, the Executive may not assign this Agreement without the prior written consent of the Company. 
 7.10 Separability. The covenants contained in this Agreement are separable, and if any court of competent jurisdiction declares any of them to be invalid or unenforceable, that declaration of
invalidity or unenforceability shall not affect the validity or enforceability of any of the other covenants, each of which shall remain in full force and effect. 
  

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 IN WITNESS WHEREOF, the parties, intending to be legally bound, have executed this Agreement or caused it
to be executed and attested by their duly authorized officers as a document under seal on the day and year first above written. 
  

					
	INTEGRAL SYSTEMS, INC.
			
	By:	 	 /s/ Alan W. Baldwin
	 	(SEAL)
	Name:	 	Alan W. Baldwin	 	
	Title:	 	Chief Executive Officer	 	
	
	EXECUTIVE:
		
	 /s/ Elaine M. Brown
	 	(SEAL)
	Elaine M. Brown

  

 -12-2006 Employee Stock Purchase Plan

 Exhibit 10.2 
 RAMBUS INC. 
 2006 EMPLOYEE STOCK PURCHASE PLAN 
 (as amended and restated February 21, 2007) 
 The following constitutes the provisions of the 2006 Employee Stock Purchase Plan of Rambus Inc. 
 1. Purpose. The purpose
of the Plan is to provide Employees with an opportunity to purchase Common Stock through accumulated payroll deductions. It is the intention of the Company to have the Plan qualify as an “employee stock purchase plan” under
Section 423 of the Code. The provisions of the Plan, accordingly, will be construed so as to extend and limit Plan participation in a uniform and nondiscriminatory basis consistent with the requirements of Section 423 of the Code.

 2. Definitions. 
 (a) “Administrator” means the Board or any committee designated by the Board to administer the Plan pursuant to Section 14. 
 (b) “Board” means the Board of Directors of the Company. 
 (c)
“Change of Control” means the occurrence of any of the following events: 
 (i) Any “person” (as
such term is used in Sections 13(d) and 14(d) of the Exchange Act) becomes the “beneficial owner” (as defined in Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or
more of the total voting power represented by the Company’s then outstanding voting securities; or 
 (ii) The
consummation of the sale or disposition by the Company of all or substantially all of the Company’s assets; or 
 (iii)
The consummation of a merger or consolidation of the Company, with any other corporation, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent
(either by remaining outstanding or by being converted into voting securities of the surviving entity or its parent) at least fifty percent (50%) of the total voting power represented by the voting securities of the Company, or such surviving
entity or its parent outstanding immediately after such merger or consolidation. 
 (iv) A change in the composition of the
Board occurring within a two (2)-year period, as a result of which fewer than a majority of the Directors are Incumbent Directors. “Incumbent Directors” means Directors who either (A) are Directors as of the effective date of the Plan
(pursuant to Section 23 hereof), or (B) are elected, or nominated for election, to the Board with the affirmative votes of at least a majority of those Incumbent Directors at the time of such election or nomination (but will not include an
individual whose election or nomination is in connection with an actual or threatened proxy contest relating to the election of Directors of the Company). 
 (d) “Code” means the Internal Revenue Code of 1986, as amended. Any reference to a section of the Code herein will be a reference to any successor or amended section of the Code. 
 (e) “Common Stock” means the common stock of the Company. 
 (f) “Company” means Rambus Inc., a Delaware corporation. 
 (g) “Compensation” means an Employee’s base straight time gross earnings, but exclusive of payments for overtime,
shift premium, incentive compensation, incentive payments, bonuses and other compensation. 
 (h) “Designated
Subsidiary” means any Subsidiary that has been designated by the Administrator from time to time in its sole discretion as eligible to participate in the Plan. 

 (i) “Director” means a member of the Board. 
 (j) “Employee” means any individual who is a common law employee
of an Employer and is customarily employed for at least twenty (20) hours per week and more than five (5) months in any calendar year by the Employer. For purposes of the Plan, the employment relationship will be treated as continuing
intact while the individual is on sick leave or other leave of absence that the Employer approves. Where the period of leave exceeds ninety (90) days and the individual’s right to reemployment is not guaranteed either by statute or by
contract, the employment relationship will be deemed to have terminated on the ninety-first (91st) day of such leave. The Administrator, in its
discretion, from time to time may, prior to an Enrollment Date for all options to be granted on such Enrollment Date, determine (on a uniform and nondiscriminatory basis) that the definition of Employee will or will not include an individual if he
or she: (1) has not completed at least two years of service since his or her last hire date (or such lesser period of time as may be determined by the Administrator in its discretion), (2) customarily works not more than 20 hours per week
(or such lesser period of time as may be determined by the Administrator in its discretion), (3) customarily works not more than five (5) months per calendar year (or such lesser period of time as may be determined by the Administrator in
its discretion), (4) is an officer or other manager, or (5) is a highly compensated employee under Section 414(q) of the Code. 
 (k) “Employer” means any one or all of the Company and its Designated Subsidiaries. 
 (l) “Enrollment Date” means the first Trading Day of each Offering Period. 
 (m) “Exchange
Act” means the Securities Exchange Act of 1934, as amended, including the rules and regulations promulgated thereunder. 
 (n) “Exercise Date” means the first Trading Day on or after May 1 and November 1 of each year. 
 (o) “Fair Market Value” means, as of any date, the value of Common Stock determined as follows: 
 (i) If the Common Stock is listed on any established stock exchange or a national market system, including without limitation the Nasdaq Global Select Market, the Nasdaq Global Market or the Nasdaq Capital Market of The Nasdaq Stock Market,
its Fair Market Value will be the closing sales price for the Common Stock (or the closing bid, if no sales were reported) as quoted on such exchange or system on the date of determination, as reported in The Wall Street Journal or such other
source as the Administrator deems reliable, or; 
 (ii) If the Common Stock is regularly quoted by a recognized securities
dealer but selling prices are not reported, its Fair Market Value will be the mean of the closing bid and asked prices for the Common Stock on the date of determination, as reported in The Wall Street Journal or such other source as the
Administrator deems reliable, or; 
 (iii) In the absence of an established market for the Common Stock, its Fair Market Value
will be determined in good faith by the Administrator. 
 (p) “Offering Periods” means the periods of
approximately six (6) months during which an option granted pursuant to the Plan may be exercised, commencing on the first Trading Day on or after May 1 and November 1 of each year and terminating on the first Trading Day on or after
the May 1 and November 1 Offering Period commencement date approximately six (6) months later. The duration and timing of Offering Periods may be changed pursuant to Section 4 of this Plan. 
 (q) “Parent” means a “parent corporation,” whether now or hereafter existing, as defined in Section 424(e)
of the Code. 
  

 -2- 

 (r) “Plan” means this 2006 Employee Stock Purchase Plan. 
 (s) “Purchase Price” means an amount equal to eighty-five percent (85%) of the Fair Market Value of a share of
Common Stock on the Enrollment Date or on the Exercise Date, whichever is lower; provided however, that the Purchase Price may be adjusted by the Administrator pursuant to Section 20. 
 (t) “Subsidiary” means a “subsidiary corporation,” whether now or hereafter existing, as defined in
Section 424(f) of the Code. 
 (u) “Trading Day” means a day on which the U.S. national stock exchanges
and the Nasdaq System are open for trading. 
 3. Eligibility. 
 (a) Offering Periods. Any individual who is an Employee as of the Enrollment Date of any Offering Period will be eligible to
participate in such Offering Period, subject to the requirements of Section 5. 
 (b) Limitations. Any provisions
of the Plan to the contrary notwithstanding, no Employee will be granted an option under the Plan (i) to the extent that, immediately after the grant, such Employee (or any other person whose stock would be attributed to such Employee pursuant
to Section 424(d) of the Code) would own capital stock of the Company or any Parent or Subsidiary of the Company and/or hold outstanding options to purchase such stock possessing five percent (5%) or more of the total combined voting power
or value of all classes of the capital stock of the Company or of any Parent or Subsidiary of the Company, or (ii) to the extent that his or her rights to purchase stock under all employee stock purchase plans (as defined in Section 423 of
the Code) of the Company or any Parent or Subsidiary of the Company accrues at a rate which exceeds twenty-five thousand dollars ($25,000) worth of stock (determined at the Fair Market Value of the stock at the time such option is granted) for each
calendar year in which such option is outstanding at any time. 
 4. Offering Periods. The Plan will be implemented by consecutive
Offering Periods with a new Offering Period commencing on the first Trading Day on or after May 1 and November 1 of each year, or on such other date as the Administrator will determine, and continuing thereafter until terminated in
accordance with Section 20. The Administrator will have the power to change the duration of Offering Periods (including the commencement dates thereof) with respect to future offerings without stockholder approval if such change is announced
prior to the scheduled beginning of the first Offering Period to be affected thereafter. 
 5. Participation. An Employee who is
eligible to participate in the Plan pursuant to Section 3(a) may become a participant by (i) submitting to the Company’s payroll office (or its designee), on or before a date prescribed by the Administrator prior to an applicable
Enrollment Date, a properly completed subscription agreement authorizing payroll deductions in the form provided by the Administrator for such purpose, or (ii) following an electronic or other enrollment procedure prescribed by the
Administrator. 
 6. Payroll Deductions. 
 (a) At the time a participant enrolls in the Plan pursuant to Section 5, he or she will elect to have payroll deductions made on each payday during the Offering Period in an amount not exceeding fifteen percent
(15%) of the Compensation which he or she receives on each such payday. A participant’s subscription agreement shall remain in effect for successive Offering Periods unless terminated as provided in Section 10 hereof. 
 (b) Payroll deductions authorized by a participant will commence on the first payday following the Enrollment Date and will end on the
last payday in the Offering Period to which such authorization is applicable, unless sooner terminated by the participant as provided in Section 10. 
  

 -3- 

 (c) All payroll deductions made for a participant will be credited to his or her account
under the Plan and will be withheld in whole percentages only. A participant may not make any additional payments into such account. 
 (d) A participant may discontinue his or her participation in the Plan as provided in Section 10, or may increase or decrease the rate of his or her payroll deductions during the Offering Period by (i) properly completing and
submitting to the Company’s payroll office (or its designee), on or before a date prescribed by the Administrator prior to an applicable Exercise Date, a new subscription agreement authorizing the change in payroll deduction rate in the form
provided by the Administrator for such purpose, or (ii) following an electronic or other procedure prescribed by the Administrator; provided, however, that unless the Administrator provides otherwise, a participant may reduce, but not increase,
his or her contributions during an Offering Period for that Offering Period (it being understood that a participant may increase contributions for future Offering Periods prior to the commencement of any such Offering Period). If a participant has
not followed such procedures to change the rate of payroll deductions, the rate of his or her payroll deductions will continue at the originally elected rate throughout the Offering Period and future Offering Periods (unless terminated as provided
in Section 10). The Administrator may, in its sole discretion, limit the nature and/or number of payroll deduction rate changes that may be made by participants during any Offering Period. Any change in payroll deduction rate made pursuant to
this Section 6(d) will be effective as of the first full payroll period following five (5) business days after the date on which the change is made by the participant (unless the Administrator, in its sole discretion, elects to process a
given change in payroll deduction rate more quickly). 
 (e) Notwithstanding the foregoing, to the extent necessary to comply
with Section 423(b)(8) of the Code and Section 3(b), a participant’s payroll deductions may be decreased to zero percent (0%) at any time during an Offering Period. Subject to Section 423(b)(8) of the Code and Section 3(c)
hereof, payroll deductions will recommence at the rate originally elected by the participant effective as of the beginning of the first Offering Period which is scheduled to end in the following calendar year, unless terminated by the participant as
provided in Section 10. 
 (f) At the time the option is exercised, in whole or in part, or at the time some or all of
the Company’s Common Stock issued under the Plan is disposed of, the participant must make adequate provision for the Company’s federal, state, or other tax withholding obligations, if any, which arise upon the exercise of the option or
the disposition of the Common Stock. At any time, the Company may, but will not be obligated to, withhold from the participant’s compensation the amount necessary for the Company to meet applicable withholding obligations, including any
withholding required to make available to the Company any tax deductions or benefits attributable to the sale or early disposition of Common Stock by the Employee. 
 7. Grant of Option. On the Enrollment Date of each Offering Period, each Employee participating in such Offering Period will be granted an option to purchase on the Exercise Date(s) of such Offering Period (at
the applicable Purchase Price) up to a number of shares of Common Stock determined by dividing such participant’s payroll deductions accumulated prior to such Exercise Date and retained in the participant’s account as of the Exercise Date
by the applicable Purchase Price; provided that in no event will a participant be permitted to purchase during each Offering Period more than five thousand (5,000) shares of Common Stock (subject to any adjustment pursuant to Section 19),
and provided further that such purchase will be subject to the limitations set forth in Sections 3(b) and 13. The Employee may accept the grant of such option with respect to any 

  

 -4- 

 
Offering Period under the Plan, by electing to participate in the Plan in accordance with the requirements of Section 5. The Administrator may, for
future Offering Periods, increase or decrease, in its absolute discretion, the maximum number of shares of Common Stock that a participant may purchase during each Offering Period. Exercise of the option will occur as provided in Section 8,
unless the participant has withdrawn pursuant to Section 10. The option will expire on the last day of the Offering Period. 
 8.
Exercise of Option. 
 (a) Unless a participant withdraws from the Plan as provided in Section 10, his or her
option for the purchase of shares of Common Stock will be exercised automatically on the Exercise Date, and the maximum number of full shares subject to option will be purchased for such participant at the applicable Purchase Price with the
accumulated payroll deductions in his or her account. No fractional shares of Common Stock will be purchased; any payroll deductions accumulated in a participant’s account which are not sufficient to purchase a full share will be retained in
the participant’s account for the subsequent Offering Period, subject to earlier withdrawal by the participant as provided in Section 10. Any other funds left over in a participant’s account after the Exercise Date will be returned to
the participant. During a participant’s lifetime, a participant’s option to purchase shares hereunder is exercisable only by him or her. 
 (b) Notwithstanding any contrary Plan provision, if the Administrator determines that, on a given Exercise Date, the number of shares of Common Stock with respect to which options are to be exercised may exceed
(i) the number of shares of Common Stock that were available for sale under the Plan on the Enrollment Date of the applicable Offering Period, or (ii) the number of shares of Common Stock available for sale under the Plan on such Exercise
Date, the Administrator may in its sole discretion (x) provide that the Company will make a pro rata allocation of the shares of Common Stock available for purchase on such Enrollment Date or Exercise Date, as applicable, in as uniform a manner
as will be practicable and as it will determine in its sole discretion to be equitable among all participants exercising options to purchase Common Stock on such Exercise Date, and either (x) continue any Offering Period then in effect, or
(y) terminate any Offering Period then in effect pursuant to Section 20. The Company may make pro rata allocation of the shares of Common Stock available on the Enrollment Date of any applicable Offering Period pursuant to the preceding
sentence, notwithstanding any authorization of additional shares of Common Stock for issuance under the Plan by the Company’s stockholders subsequent to such Enrollment Date. 
 9. Delivery. As soon as administratively practicable after each Exercise Date on which a purchase of shares of Common Stock occurs, the Company
will arrange the delivery to each participant, as appropriate, the shares purchased upon exercise of his or her option in a form determined by the Administrator (in its sole discretion) and pursuant to rules established by the Administrator. No
participant will have any voting, dividend, or other stockholder rights with respect to shares of Common Stock subject to any option granted under the Plan until such shares have been purchased and delivered to the participant as provided in this
Section 9. 
 10. Withdrawal. 
 (a) Under procedures established by the Administrator, a participant may withdraw all but not less than all the payroll deductions credited to his or her account and not yet used to exercise his or her option under
the Plan at any time by (i) submitting to the Company’s payroll office (or its designee) a written notice of withdrawal in the form prescribed by the Administrator for such purpose, or (ii) following an electronic or other withdrawal
procedure prescribed by the Administrator. All of the participant’s payroll deductions credited to his or her account will be paid to such participant as promptly as practicable after the effective date of his or 

  

 -5- 

 
her withdrawal and such participant’s option for the Offering Period will be automatically terminated, and no further payroll deductions for the
purchase of shares will be made for such Offering Period. If a participant withdraws from an Offering Period, payroll deductions will not resume at the beginning of the succeeding Offering Period unless the participant re-enrolls in the Plan in
accordance with the provisions of Section 5. 
 (b) A participant’s withdrawal from an Offering Period will not have
any effect upon his or her eligibility to participate in any similar plan which may hereafter be adopted by the Company or in succeeding Offering Periods which commence after the termination of the Offering Period from which the participant
withdraws. 
 11. Termination of Employment. Upon a participant’s ceasing to be an Employee, for any reason, he or she will be
deemed to have elected to withdraw from the Plan and the payroll deductions credited to such participant’s account during the Offering Period but not yet used to purchase shares of Common Stock under the Plan will be returned to such
participant or, in the case of his or her death, to the person or persons entitled thereto under Section 15, and such participant’s option will be automatically terminated. The preceding sentence notwithstanding, a participant who receives
payment in lieu of notice of termination of employment will be treated as continuing to be an Employee for the participant’s customary number of hours per week of employment during the period in which the participant is subject to such payment
in lieu of notice. 
 12. Interest. No interest will accrue on the payroll deductions of a participant in the Plan. 
 13. Stock. 
 (a)
Subject to adjustment upon changes in capitalization of the Company as provided in Section 19, the maximum number of shares of Common Stock which will be made available for sale under the Plan will be 1,600,000 shares of Common Stock.

 (b) Shares of Common Stock to be delivered to a participant under the Plan will be registered in the name of the
participant or in the name of the participant and his or her spouse. 
 14. Administration. The Board or a committee of members of the
Board who will be appointed from time to time by, and will serve at the pleasure of, the Board, will administer the Plan. The Administrator will have full and exclusive discretionary authority to construe, interpret and apply the terms of the Plan,
to determine eligibility, to adjudicate all disputed claims filed under the Plan and to establish such procedures that it deems necessary for administration of the Plan (including, without limitation, to adopt such procedures and sub-plans as are
necessary or appropriate to permit the participation in the Plan by employees who are foreign nationals or employed outside the United States). The Administrator, in its sole discretion and on such terms and conditions as it may provide, may
delegate to one or more individuals all or any part of its authority and powers under the Plan. Every finding, decision and determination made by the Administrator (or its designee) will, to the full extent permitted by law, be final and binding
upon all parties. 
 15. Designation of Beneficiary. 
 (a) A participant may designate a beneficiary who is to receive any shares of Common Stock and cash, if any, from the participant’s
account under the Plan in the event of such participant’s death subsequent to an Exercise Date on which the option is exercised but prior to delivery to such participant of such shares and cash. In addition, a participant may designate a
beneficiary who is to receive any cash from the participant’s account under the Plan in the event of such participant’s death prior to exercise of the option. If a participant is married and the designated beneficiary is not the spouse,
spousal consent will be required for such designation to be effective. 
 (b) The participant may change such designation of
beneficiary at any time by written notice. In the event of the death of a participant and in the absence of a beneficiary validly 

  

 -6- 

 
designated under the Plan who is living at the time of such participant’s death, the Company will deliver such shares and/or cash to the executor or
administrator of the estate of the participant, or if no such executor or administrator has been appointed (to the knowledge of the Company), the Company, in its discretion, may deliver such shares and/or cash to the spouse or to any one or more
dependents or relatives of the participant, or if no spouse, dependent or relative is known to the Company, then to such other person as the Company may designate. 
 (c) All beneficiary designations under this Section 15 will be made in such form and manner as the Administrator may prescribe from
time to time. 
 16. Transferability. Neither payroll deductions credited to a participant’s account nor any rights with regard
to the exercise of an option or to receive shares of Common Stock under the Plan may be assigned, transferred, pledged or otherwise disposed of in any way (other than by will, the laws of descent and distribution or as provided in Section 15)
by the participant. Any such attempt at assignment, transfer, pledge or other disposition will be without effect, except that the Company may treat such act as an election to withdraw from an Offering Period in accordance with Section 10.

 17. Use of Funds. The Company may use all payroll deductions received or held by the Company under the Plan for any corporate
purpose, and the Company will not be obligated to segregate such payroll deductions. Until shares of Common Stock are issued under the Plan (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of
the Company), a participant will only have the rights of an unsecured creditor with respect to such shares. 
 18. Reports. Individual
accounts will be maintained for each participant in the Plan. Statements of account will be given to participating Employees at least annually, which statements will set forth the amounts of payroll deductions, the Purchase Price, the number of
shares of Common Stock purchased and the remaining cash balance, if any. 
 19. Adjustments, Dissolution, Liquidation or Change of
Control. 
 (a) Adjustments. In the event that any dividend or other distribution (whether in the form of cash,
Common Stock, other securities, or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of Common Stock or other securities of the
Company, or other change in the corporate structure of the Company affecting the Common Stock such that an adjustment is appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available
under the Plan, the Administrator will adjust the number and class of Common Stock which may be delivered under the Plan, the Purchase Price per share and the number of shares of Common Stock covered by each option under the Plan which has not yet
been exercised, and the numerical limits of Sections 7 and 13. 
 (b) Dissolution or Liquidation. In the event of the
proposed dissolution or liquidation of the Company, any Offering Period then in progress will be shortened by setting a new Exercise Date (the “New Exercise Date”), and will terminate immediately prior to the consummation of such proposed
dissolution or liquidation, unless provided otherwise by the Board. The New Exercise Date will be before the date of the Company’s proposed dissolution or liquidation. The Board will notify each participant in writing, at least ten
(10) business days prior to the New Exercise Date, that the Exercise Date for the participant’s option has been changed to the New Exercise Date and that the participant’s option will be exercised automatically on the New Exercise
Date, unless prior to such date the participant has withdrawn from the Offering Period as provided in Section 10. 
  

 -7- 

 (c) Change of Control. In the event of a Change of Control, each outstanding
option will be assumed or an equivalent option substituted by the successor corporation or a Parent or Subsidiary of the successor corporation. In the event that the successor corporation refuses to assume or substitute for the option, any Offering
Period then in progress will be shortened by setting a new Exercise Date (the “New Exercise Date”) and any Offering Period then in progress will end on the New Exercise Date. The New Exercise Date will be before the date of the
Company’s proposed Change of Control. The Board will notify each participant in writing, at least ten (10) business days prior to the New Exercise Date, that the Exercise Date for the participant’s option has been changed to the New
Exercise Date and that the participant’s option will be exercised automatically on the New Exercise Date, unless prior to such date the participant has withdrawn from the Offering Period as provided in Section 10. 
 20. Amendment or Termination. 
 (a) The Administrator may at any time and for any reason terminate or amend the Plan. Except as provided in Section 19, no such termination can affect options previously granted under the Plan, provided that an Offering Period may be
terminated by the Administrator on any Exercise Date if the Administrator determines that the termination or suspension of the Plan is in the best interests of the Company and its stockholders. Except as provided in Section 19 and this
Section 20, no amendment may make any change in any option theretofore granted which adversely affects the rights of any participant. To the extent necessary to comply with Section 423 of the Code (or any successor rule or provision or any
other applicable law, regulation or stock exchange rule), the Company will obtain stockholder approval in such a manner and to such a degree as required. 
 (b) Without stockholder consent and without regard to whether any participant rights may be considered to have been “adversely affected,” the Administrator will be entitled to change the Offering Periods,
limit the frequency and/or number of changes in the amount withheld during an Offering Period, establish the exchange ratio applicable to amounts withheld in a currency other than U.S. dollars, permit payroll withholding in excess of the amount
designated by a participant in order to adjust for delays or mistakes in the Company’s processing of properly completed withholding elections, establish reasonable waiting and adjustment periods and/or accounting and crediting procedures to
ensure that amounts applied toward the purchase of Common Stock for each participant properly correspond with amounts withheld from the participant’s Compensation, and establish such other limitations or procedures as the Administrator
determines in its sole discretion advisable which are consistent with the Plan. 
 (c) In the event the Administrator
determines that the ongoing operation of the Plan may result in unfavorable financial accounting consequences, the Board may, in its discretion and, to the extent necessary or desirable, modify, amend or terminate the Plan to reduce or eliminate
such accounting consequence including, but not limited to: 
 (i) amending the Plan to conform with the safe harbor definition
under Statement of Financial Accounting Standards 123R, including with respect to an Offering Period underway at the time; 
 (ii) altering the Purchase Price for any Offering Period including an Offering Period underway at the time of the change in Purchase Price; 
 (iii) shortening any Offering Period so that such Offering Period ends on a new Exercise Date, including an Offering Period underway at the time of the Board action; 
 (iv) reducing the maximum percentage of Compensation a participant may elect to set aside as payroll deductions; and 
  

 -8- 

 (v) reducing the maximum number of Shares a participant may purchase during any Offering
Period. 
 Such modifications or amendments will not require stockholder approval or the consent of any Plan participants. 
 21. Notices. All notices or other communications by a participant to the Company under or in connection with the Plan will be deemed to have been
duly given when received in the form and manner specified by the Company at the location, or by the person, designated by the Company for the receipt thereof. 
 22. Conditions Upon Issuance of Shares. Shares of Common Stock will not be issued with respect to an option under the Plan unless the exercise of such option and the issuance and delivery of such shares
pursuant thereto will comply with all applicable provisions of law, domestic or foreign, including, without limitation, the Securities Act of 1933, as amended, including the rules and regulations promulgated thereunder, the Exchange Act, and the
requirements of any stock exchange upon which the shares may then be listed, and will be further subject to the approval of counsel for the Company with respect to such compliance. 
 As a condition to the exercise of an option, the Company may require the person exercising such option to represent and warrant at the time of any such
exercise that the shares are being purchased only for investment and without any present intention to sell or distribute such shares if, in the opinion of counsel for the Company, such a representation is required by any of the aforementioned
applicable provisions of law. 
 23. Term of Plan. The Plan will become effective upon the earlier to occur of its adoption by the
Board or its approval by the stockholders of the Company. It will continue in effect for a term of ten (10) years, unless sooner terminated under Section 20. 
  

 -9- 

 SAMPLE SUBSCRIPTION AGREEMENT 
 RAMBUS INC. 
 2006 EMPLOYEE STOCK PURCHASE PLAN 
 SUBSCRIPTION AGREEMENT 
  

			
	             Original Application	  	Offering Date:                    
	             Change in Payroll Deduction Rate	  	
	             Change of Beneficiary(ies)	  	

  

	1.	                                 hereby elects to participate in the
Rambus Inc. 2006 Employee Stock Purchase Plan (the “Plan”) and subscribes to purchase shares of the Company’s Common Stock in accordance with this Subscription Agreement and the Plan. 

  

	2.	I hereby authorize payroll deductions from each paycheck in the amount of         % of my Compensation on each payday (from 1 to 15%)
during the Offering Period in accordance with the Plan. (Please note that no fractional percentages are permitted.) 

  

	3.	I understand that said payroll deductions will be accumulated for the purchase of shares of Common Stock at the applicable Purchase Price determined in accordance with the Plan. I
understand that if I do not withdraw from an Offering Period, any accumulated payroll deductions will be used to automatically exercise my option. 

  

	4.	I have received a copy of the complete Plan. I understand that my participation in the Plan is in all respects subject to the terms of the Plan. I understand that my ability to
exercise the option under this Subscription Agreement is subject to stockholder approval of the Plan. 

  

	5.	Shares of Common Stock purchased for me under the Plan should be issued in the name(s) of Employee or Employee and Spouse only. 

  

	6.	I understand that if I dispose of any shares received by me pursuant to the Plan within 2 years after the Enrollment Date (the first day of the Offering Period during which I
purchased such shares) or one year after the Exercise Date, I will be treated for federal income tax purposes as having received ordinary income at the time of such disposition in an amount equal to the excess of the fair market value of the shares
at the time such shares were purchased by me over the price which I paid for the shares. I hereby agree to notify the Company in writing within 30 days after the date of any disposition of my shares and I will make adequate provision for Federal,
state or other tax withholding obligations, if any, which arise upon the disposition of the Common Stock. The Company may, but will not be obligated to, withhold from my compensation the amount necessary to meet any applicable withholding
obligation including any withholding necessary to make available to the Company any tax deductions or benefits attributable to sale or early disposition of Common Stock by me. If I dispose of such shares at any time after the expiration of the
2-year and 1-year holding periods, I understand that I will be treated for federal income tax purposes as having received income only at the time of such disposition, and that such income will be taxed as ordinary income only to the extent of an
amount equal to the lesser of (1) the excess of the fair market value of the shares at the time of such disposition over the purchase price which I paid for the shares, or (2) 15% of the fair market value of the shares on the first day of
the Offering Period. The remainder of the gain, if any, recognized on such disposition will be taxed as capital gain. 

  

 -10- 

	7.	I hereby agree to be bound by the terms of the Plan. The effectiveness of this Subscription Agreement is dependent upon my eligibility to participate in the Plan.

  

	8.	In the event of my death, I hereby designate the following as my beneficiary(ies) to receive all payments and/or shares due me under the Plan: 

  

							
	NAME: (Please print)	  	 	  	 	  	 
		  	(First)	  	(Middle)	  	(Last)

  

					
	 	 		  	 
	Relationship	 		  	
			
	 	 		  	 
	Percentage Benefit	 		  	(Address)

  

							
	NAME: (please print)	  	 	  	 	  	 
		  	(First)	  	(Middle)	  	(Last)

  

					
	 	 		  	 
	Relationship	 		  	
			
	 	 		  	 
	Percentage of Benefit	 		  	(Address)

  

 -11- 

			
	Employee’s Social	  	
	Security Number:	  	 
	Employee’s Address:	  	 
		  	 
		  	 

 I UNDERSTAND THAT THIS SUBSCRIPTION AGREEMENT WILL REMAIN IN EFFECT THROUGHOUT SUCCESSIVE OFFERING PERIODS UNLESS
TERMINATED BY ME. 
  

					
			
	Dated: ______________________	 		 	  
		 		 	Signature of Employee
			
	 	 		 	  
		 		 	Spouse’s Signature (If beneficiary other than spouse)

  

 -12- 

 SAMPLE WITHDRAWAL NOTICE 
 RAMBUS INC. 
 2006 EMPLOYEE STOCK PURCHASE PLAN 
 NOTICE OF WITHDRAWAL 
 The undersigned
participant in the Offering Period of the Rambus Inc. 2006 Employee Stock Purchase Plan which began on                     ,
             (the “Enrollment Date”) hereby notifies the Company that he or she hereby withdraws from the Offering Period. He or she hereby directs the Company to pay to
the undersigned as promptly as practicable all the payroll deductions credited to his or her account with respect to such Offering Period. The undersigned understands and agrees that his or her option for such Offering Period will be automatically
terminated. The undersigned understands further that no further payroll deductions will be made for the purchase of shares in the current Offering Period and the undersigned will be eligible to participate in succeeding Offering Periods only by
delivering to the Company a new Subscription Agreement. 
  

	
	Name and Address of Participant:
	  
	  
	  
	
	Signature:
	  

			
	Date:

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