Document:

EX-10.1

 Exhibit 10.1 

TAX MATTERS AGREEMENT 

by and between 
 ADEIA
INC. 
 and 

XPERI INC. 
 Dated as of
October 1, 2022 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 Section 1. Definition of Terms
	  	 	2	 
	 Section 2. Allocation of Tax Liabilities
	  	 	9	 
	 Section 2.01
	 	General Rule	  	 	9	 
	 Section 2.02
	 	Tax Year Ends	  	 	9	 
	 Section 3. Preparation and Filing of Tax Returns
	  	 	10	 
	 Section 3.01
	 	General	  	 	10	 
	 Section 3.02
	 	Responsibility for Preparation and Filing	  	 	10	 
	 Section 3.03
	 	Tax Reporting Practices	  	 	10	 
	 Section 3.04
	 	Consolidated or Combined Tax Returns	  	 	10	 
	 Section 3.05
	 	Right to Review Tax Returns	  	 	11	 
	 Section 3.06
	 	Refunds, Carrybacks, and Amended Tax Returns	  	 	11	 
	 Section 3.07
	 	Apportionment of Tax Attributes	  	 	12	 
	 Section 4. Indemnification Payments
	  	 	13	 
	 Section 4.01
	 	Indemnification Payments	  	 	13	 
	 Section 5. Tax Benefits
	  	 	14	 
	 Section 5.01
	 	Realized Tax Benefits	  	 	14	 
	 Section 5.02
	 	Tax Benefit Payments	  	 	14	 
	 Section 6. Employment Tax Matters
	  	 	14	 
	 Section 7. Tax-Free Status
	  	 	14	 
	 Section 7.01
	 	Restrictions on Product SpinCo	  	 	14	 
	 Section 7.02
	 	Restrictions on IP RemainCo	  	 	16	 
	 Section 7.03
	 	Procedures Regarding Opinions and Rulings	  	 	16	 
	 Section 7.04
	 	Liability for Distribution Tax-Related Losses	  	 	17	 
	 Section 8. Assistance and Cooperation
	  	 	17	 
	 Section 8.01
	 	Assistance and Cooperation	  	 	18	 
	 Section 8.02
	 	Income Tax Return Information	  	 	19	 
	 Section 8.03
	 	Reliance by IP RemainCo	  	 	19	 
	 Section 8.04
	 	Reliance by Product SpinCo	  	 	19	 
	 Section 8.05
	 	Non-Performance	  	 	20	 
	 Section 9. Tax Records
	  	 	20	 
	 Section 9.01
	 	Retention of Tax Records	  	 	20	 
	 Section 9.02
	 	Access to Tax Records	  	 	20	 
	 Section 9.03
	 	Preservation of Privilege	  	 	21	 
	 Section 10. Tax Contests
	  	 	21	 
	 Section 10.01
	 	Notice	  	 	21	 
	 Section 10.02
	 	Control of Tax Contests	  	 	21	 
	 Section 11. Effective Date
	  	 	23	 
	 Section 12. Survival of Obligations
	  	 	23	 

  
 i 

							
	 Section 13. Treatment of Payments
	  	 	23	 
	 Section 13.01
	 	Treatment of Tax Indemnity and Tax Benefit Payments	  	 	23	 
	 Section 13.02
	 	Tax Gross Up	  	 	24	 
	 Section 14. Disagreements
	  	 	24	 
	 Section 14.01
	 	Discussion	  	 	24	 
	 Section 14.02
	 	Escalation	  	 	24	 
	 Section 14.03
	 	Referral to Tax Advisor	  	 	24	 
	 Section 14.04
	 	Injunctive Relief	  	 	25	 
	 Section 15. Expenses
	  	 	25	 
	 Section 16. General Provisions
	  	 	25	 
	 Section 16.01
	 	Complete Agreement; Construction	  	 	25	 
	 Section 16.02
	 	Other Agreements	  	 	25	 
	 Section 16.03
	 	Counterparts	  	 	25	 
	 Section 16.04
	 	Survival or Agreement	  	 	25	 
	 Section 16.05
	 	Notices	  	 	25	 
	 Section 16.06
	 	Waivers	  	 	27	 
	 Section 16.07
	 	Amendments	  	 	27	 
	 Section 16.08
	 	Assignment	  	 	27	 
	 Section 16.09
	 	Successors and Assigns	  	 	27	 
	 Section 16.10
	 	Payment Terms	  	 	27	 
	 Section 16.11
	 	No Circumvention	  	 	28	 
	 Section 16.12
	 	Subsidiaries	  	 	28	 
	 Section 16.13
	 	Third Party Beneficiaries	  	 	29	 
	 Section 16.14
	 	Title and Headings	  	 	29	 
	 Section 16.15
	 	Governing Law	  	 	29	 
	 Section 16.16
	 	Specific Performance	  	 	29	 
	 Section 16.17
	 	Severability	  	 	29	 
	 Section 16.18
	 	No Duplication; No Double Recovery	  	 	29	 
	 Section 16.19
	 	Further Action	  	 	30	 

  
 ii 

 TAX MATTERS AGREEMENT 

This TAX MATTERS AGREEMENT (this “Agreement”) is dated as of October 1, 2022, by and between Adeia Inc. (f/k/a Xperi
Holding Corporation), a Delaware corporation (“IP RemainCo”), and Xperi Inc. (f/k/a TiVo Product HoldCo Corporation), a Delaware corporation (“Product SpinCo”). Each of IP RemainCo and Product SpinCo is sometimes
referred to herein as a “Party” and collectively, as the “Parties.” 
 RECITALS 

WHEREAS, IP RemainCo, acting through its direct and indirect Subsidiaries, currently conducts (a) the Product Business, and (b) the
IP Business; 
 WHEREAS, the Board has determined that it is appropriate, desirable, and in the best interests of IP RemainCo and its
stockholders to separate IP RemainCo into two separate, publicly traded companies, one for each of (a) the Product Business, which shall be owned and conducted, directly or indirectly, by Product SpinCo, and (b) the IP Business, which
shall be owned and conducted, directly or indirectly, by IP RemainCo; 
 WHEREAS, in order to effect such separation, the Board has
determined that it is appropriate, desirable, and in the best interests of IP RemainCo and its stockholders (a) to enter into a series of transactions whereby (i) IP RemainCo and/or one or more members of the IP RemainCo Group will,
collectively, own all of the IP Assets, assume (or retain) all of the IP Liabilities, and, except as provided in any Ancillary Agreement, operate the IP Business, and (ii) Product SpinCo and/or one or more members of the Product SpinCo Group
will, collectively, own all of the Product Assets, assume (or retain) all of the Product Liabilities and, except as provided in any Ancillary Agreement, operate the Product Business, and (b) for IP RemainCo to distribute to the holders of IP
RemainCo Common Stock by way of a pro rata dividend (in each case without consideration being paid by such stockholders) all of the then issued and outstanding shares of Product SpinCo Common Stock (the “Distribution”), in each case
upon the terms and subject to the conditions set forth in the Separation and Distribution Agreement by and between IP RemainCo and Product SpinCo, dated as of the date hereof (the “Separation Agreement”); 

WHEREAS, in order to effect such separation, the Board has determined that it is appropriate, desirable, and in the best interests of IP
RemainCo and its stockholders for IP RemainCo to undertake the Internal Reorganization and Business Realignment; 
 WHEREAS, as of the date
hereof, IP RemainCo is the common parent of an affiliated group of corporations (including Product SpinCo) which has elected to file consolidated U.S. federal income tax returns; 

WHEREAS, it is the intention of the Parties that the Contribution and the Distribution, taken together, will qualify as a transaction that is tax-free for U.S. federal income tax purposes under Section 355 and Section 368(a)(1)(D) of the Code; 

 WHEREAS, the Parties desire to provide for and agree upon the allocation between the Parties
and their respective Groups of liabilities, and entitlements to refunds thereof, for certain Taxes arising prior to, at the time of, and subsequent to the Distribution, and to provide for and agree upon other matters relating to Taxes and to set
forth certain covenants and indemnities relating to the preservation of the intended tax treatment of the Contribution and the Distribution and certain transactions effected pursuant to the Internal Reorganization and Business Realignment; 

NOW THEREFORE, in consideration of the mutual agreements contained herein, the parties hereby agree as follows: 

Section 1. Definition of Terms. For purposes of this Agreement (including the recitals hereof), the following
terms have the following meanings, and capitalized terms used but not otherwise defined herein shall have the meaning ascribed to them in the Separation Agreement: 

“Active Trade or Business” means, (a) with respect to Product SpinCo, the active conduct (as defined in
Section 355(b)(2) of the Code and the Treasury Regulations thereunder) of the TiVo Product Business (as defined in the IRS Ruling Request) as conducted immediately prior to the Distribution, or, with respect to another Tax-Free Separation Transaction intended to qualify as tax-free pursuant to Section 355 of the Code or analogous provisions of state or local law, the active conduct (as
defined in Section 355(b)(2) of the Code and the Treasury Regulations thereunder) by the relevant member of the Product SpinCo Group immediately prior to such Tax-Free Separation Transaction of the
business on which such entity relied for purposes of satisfying the requirements of Section 355(b) of the Code, and (b) with respect to IP RemainCo, the active conduct (as defined in Section 355(b)(2) of the Code and the Treasury
Regulations thereunder) of the Rovi Guides IP Business (as defined in the IRS Ruling Request) as conducted immediately prior to the Distribution, or, with respect to another Tax-Free Separation Transaction
intended to qualify as tax-free pursuant to Section 355 of the Code or analogous provisions of state or local law, the active conduct (as defined in Section 355(b)(2) of the Code and the Treasury
Regulations thereunder) by the relevant member of the IP RemainCo Group immediately prior to such Tax-Free Separation Transaction of the business on which such member relied for purposes of satisfying the
requirements of Section 355(b) of the Code. 
 “Affiliate” has the meaning set forth in the Separation Agreement. 

“Agreement” means this Tax Matters Agreement. 

“Board” has the meaning set forth in the Separation Agreement. 

“Business Day” has the meaning set forth in the Separation Agreement. 

“Capital Stock” means all classes or series of capital stock of a Party or a member of a Party’s Group, including
(a) common stock, (b) all options, warrants and other rights to acquire such capital stock, and (c) all instruments properly treated as stock in for U.S. federal income tax purposes. 

“Code” means the U.S. Internal Revenue Code of 1986, as amended. 

  
 2 

 “Consolidated Return” means an IP RemainCo Consolidated Return or a Product
SpinCo Consolidated Return, as the case may be. 
 “Contribution” has the meaning set forth in the Separation Agreement.

 “Controlling Party” has the meaning set forth in Section 10.02(a) of this Agreement. 

“DGCL” means the Delaware General Corporation Law. 

“Dispute” has the meaning set forth in Section 14.01 of this Agreement. 

“Distribution” has the meaning set forth in the recitals hereto. 

“Distribution Date” has the meaning set forth in the Separation Agreement. 

“Distribution Taxes” means any and all Taxes (a) required to be paid by or imposed on a Party or any of its Affiliates
resulting from, or directly arising in connection with, the failure of the Contribution and the Distribution, taken together, to qualify as a reorganization described in Sections 355(a) and 368(a)(1)(D) of the Code, (b) required to be paid by
or imposed on a Party or any of its Affiliates resulting from, or directly arising in connection with, the failure of the stock distributed in the Distribution to constitute “qualified property” for purposes of Sections 355(d), 355(e), and
361(c) of the Code (or any corresponding provision of the Tax Laws of other jurisdictions), or (c) required to be paid by or imposed on a Party or any of its Affiliates resulting from the failure of any
Tax-Free Separation Transaction to qualify for its intended tax treatment as described in the IRS Ruling. 

“Distribution Tax-Related Losses” means (a) all Distribution Taxes imposed
pursuant to any Final Determination, and (b) all reasonable out-of-pocket accounting, legal, and other professional fees and court costs incurred in connection with
such Distribution Taxes. 
 “Employee Matters Agreement” has the meaning set forth in the Separation Agreement. 

“Employment Tax” means any Tax the liability or responsibility for which is allocated pursuant to the Employee Matters
Agreement. 
 “Fifty-Percent or Greater Interest” has the meaning ascribed to such term for purposes of Sections 355(d) and
(e) of the Code. 
 “Final Determination” shall have the meaning given to the term “determination” by
Section 1313 of the Code with respect to U.S. federal Tax matters and with respect to non-U.S., state, and local Tax matters Final Determination shall mean any final settlement with a relevant Taxing
Authority that does not provide a right to appeal or any final decision by a court with respect to which no timely appeal is pending and as to which the time for filing such appeal has expired. 

“Group” has the meaning set forth in the Separation Agreement. 

  
 3 

 “Internal Reorganization and Business Realignment” has the meaning set
forth in the Separation Agreement. 
 “IP Assets” has the meaning set forth in the Separation Agreement. 

“IP Business” has the meaning set forth in the Separation Agreement. 

“IP Liabilities” has the meaning set forth in the Separation Agreement. 

“IP RemainCo” has the meaning provided in the first sentence of this Agreement. 

“IP RemainCo Common Stock” has the meaning set forth in the Separation Agreement. 

“IP RemainCo Consolidated Return” means any U.S. federal consolidated income Tax Return required to be filed by IP RemainCo
as the “common parent” of an “affiliated group” (in each case, within the meaning of Section 1504 of the Code), and any consolidated, combined, unitary, or similar income Tax Return required to be filed by IP RemainCo or a
member of the IP RemainCo Group as common parent (or analogous concept) under a similar or analogous provision of state, local, or non-U.S. Tax Law. 

“IP RemainCo Group” has the meaning set forth in the Separation Agreement. 

“IP RemainCo Tainting Act” means (a) any action (or the failure to take any action) within the control of IP RemainCo or
any member of the IP RemainCo Group (including entering into any agreement, understanding, or arrangement or any negotiations with respect to any transaction or series of transactions) that, (b) any event (or series of events) involving the
Capital Stock of IP RemainCo or another member of the IP RemainCo Group that, or (c) any breach by IP RemainCo or any member of the IP RemainCo Group of any representation, warranty, or covenant made by them in this Agreement, the Separation
Agreement, any Ancillary Agreement, or any Representation Letter that, in each case, would affect the Tax-Free Status or otherwise cause a Tax-Free Separation
Transaction to fail to qualify for its intended tax treatment as described in the IRS Ruling. 
 “IP RemainCo Taxes” means,
without duplication, (a) any Taxes required to be paid by IP RemainCo or a member of the IP RemainCo Group on or after the Distribution Date (including any Taxes imposed due to an adjustment of Taxes due and payable prior to the Distribution
Date), (b) any Taxes required to be paid with respect to a Consolidated Return for any Pre-Distribution Period, and (c) any Taxes attributable to an IP RemainCo Tainting Act, in the case of each of
clauses (a), (b) and (c), other than Taxes that would not have been incurred but for a Product SpinCo Tainting Act. 

“IRS” means the Internal Revenue Service. 

“IRS Ruling” means the private letter ruling, dated April 8, 2021, issued by the IRS to IP RemainCo in connection
with the Contribution, Distribution, and certain Separation Transactions, and any amendment or supplement to such ruling. 

  
 4 

 “IRS Ruling Request” means the letter filed by IP RemainCo with the
IRS on October 12, 2020, as supplemented through the Distribution Date, requesting a ruling (which was ultimately issued as the IRS Ruling) regarding certain tax consequences of the Contribution, Distribution, and Separation Transactions
(including all attachments, exhibits, and other materials submitted with such ruling request letter) and any amendment or supplement to such ruling request letter. 

“Merger” means the combination of TiVo and Xperi under IP RemainCo on June 1, 2020. 

“Mid-Term Applicable Federal Rate” means the applicable federal rate as set forth in
Section 1274(d) of the Code for obligations with maturities of more than three (3) years but not more than nine (9) years, as published from time to time. 

“Non-Controlling Party” has the meaning set forth in
Section 10.02(b) of this Agreement. 
 “Payor” has the meaning set forth in
Section 4.01(a) of this Agreement. 
 “Person” means an individual, a partnership, a corporation,
a limited liability company, an association, a joint stock company, a trust, a joint venture, an unincorporated organization, or a governmental entity or any department, agency, or political subdivision thereof, without regard to whether any entity
is treated as disregarded for U.S. federal income tax purposes. 
 “Post-Distribution Period” means any Tax Period
beginning after the Distribution Date and, in the case of any Straddle Period, the portion of such Tax Period beginning on the day after the Distribution Date. 

“Pre-Distribution Period” means any Tax Period ending on or before the Distribution
Date and, in the case of any Straddle Period, the portion of such Straddle Period ending on the Distribution Date. 
 “Preliminary
Tax Advisor” has the meaning set forth in Section 14.03 of this Agreement. 

“Privilege” means any privilege that may be asserted under applicable law, including any privilege arising under or relating
to the attorney-client relationship (including the attorney-client and work product privileges), the accountant-client privilege, and any privilege relating to internal evaluation processes. 

“Product Assets” has the meaning set forth in the Separation Agreement. 

“Product Business” has the meaning set forth in the Separation Agreement. 

“Product Liabilities” has the meaning set forth in the Separation Agreement. 

“Product SpinCo” has the meaning provided in the first sentence of this Agreement. 

“Product SpinCo Common Stock” has the meaning set forth in the Separation Agreement. 

“Product SpinCo Consolidated Return” means any consolidated, combined, unitary, or similar income Tax Return required to be
filed by Product SpinCo or a member of the Product SpinCo Group as common parent (or analogous concept) under a similar or analogous provision of state, local, or non-U.S. Law. 

  
 5 

 “Product SpinCo Group” has the meaning set forth in the Separation
Agreement. 
 “Product SpinCo Tainting Act” means (a) any action (or the failure to take any action) within its
control by Product SpinCo or any member of the Product SpinCo Group (including entering into any agreement, understanding, or arrangement or any negotiations with respect to any transaction or series of transactions) that, (b) any event (or
series of events) involving the Capital Stock of Product SpinCo or another member of the Product SpinCo Group that, or (c) any breach by Product SpinCo or any member of the Product SpinCo Group of any representation, warranty, or covenant made
by them in this Agreement, the Separation Agreement, any Ancillary Agreement, or any Representation Letter that, in each case, would affect the Tax-Free Status or otherwise cause a Tax-Free Separation Transaction to fail to qualify for its intended tax treatment as described in the IRS Ruling. 

“Product SpinCo Taxes” means, without duplication, (a) any Taxes required to be paid by Product SpinCo or a member of
the Product SpinCo Group on or after the Distribution Date (including any Taxes imposed due to an adjustment of Taxes due and payable prior to the Distribution Date), and (b) any Taxes attributable to a Product SpinCo Tainting Act, in the case
of each of clauses (a) and (b), other than Taxes that would not have been incurred but for an IP RemainCo Tainting Act. 

“Proposed Acquisition Transaction” means a transaction or series of transactions (or any agreement, understanding, or
arrangement, within the meaning of Section 355(e) of the Code and Treasury Regulations Section 1.355-7, or any other regulations promulgated thereunder, to enter into a transaction or series of
transactions), whether such transaction is supported by Product SpinCo management or shareholders, is a hostile acquisition, or otherwise, as a result of which Product SpinCo would merge or consolidate with any other Person or as a result of which
any Person or any group of related Persons would (directly or indirectly) acquire, or have the right to acquire, from Product SpinCo and/or one or more holders of outstanding shares of Capital Stock of Product SpinCo, a number of shares of Capital
Stock of Product SpinCo that, when combined with any other changes in ownership of Capital Stock of (a) Product SpinCo, (b) TiVo (prior to the Distribution, including in connection with the Merger), (c) IP RemainCo (prior to the
Distribution, including in connection with the Merger), or (d) Xperi (prior to the Distribution, including in connection with the Merger), could reasonably be expected to cause the Distribution to be a taxable event to IP RemainCo as a result
of the application of Section 355(e) of the Code, in each case taking into account the relevant rulings in the IRS Ruling. Notwithstanding the foregoing, a Proposed Acquisition Transaction shall not include (i) the adoption by Product
SpinCo of a shareholder rights plan or (ii) issuances by Product SpinCo that satisfy Safe Harbor VIII (relating to acquisitions in connection with a person’s performance of services) or Safe Harbor IX (relating to acquisitions by a
retirement plan of an employer) of Treasury Regulations Section 1.355-7(d). For purposes of determining whether a transaction constitutes an indirect acquisition, any recapitalization resulting in a shift
of voting power or any redemption of shares of stock shall be treated as an indirect acquisition of shares of stock by the non-exchanging shareholders. This definition and the application thereof is intended
to monitor compliance with Section 355(e) of the Code and shall be interpreted accordingly. Any clarification of, or change in, the statute or regulations promulgated under Section 355(e) of the Code shall be incorporated in this
definition and its interpretation. For purposes of this Agreement, this definition shall apply to any relevant member of the Product SpinCo Group other than Product SpinCo mutatis mutandis. 

  
 6 

 “Refund” means any refund (or credit in lieu thereof) of Taxes (including
any overpayment of Taxes that can be refunded or, alternatively, applied to other Taxes payable), including any interest paid on or with respect to such refund of Taxes; provided, however, the amount of the refund of Taxes shall be net
of any Taxes by any Taxing Authority on the receipt of the refund. 
 “Representation Letters” means the statements of
facts and representations, officer’s certificates, representation letters, and any other materials (including, without limitation, the IRS Ruling Request and any related supplemental submissions to the IRS or other Taxing Authority) delivered
or deliverable by IP RemainCo, its Affiliates, or representatives thereof in connection with the rendering by Tax Advisors, and/or the issuance by the IRS or other Taxing Authority, of the Tax Opinions/Rulings. 

“Required Party” has the meaning set forth in Section 4.01(a) of this Agreement. 

“Responsible Party” means, with respect to any Tax Return, the Party having responsibility for preparing and filing such Tax
Return under this Agreement. 
 “Retention Date” has the meaning set forth in Section 9.01 of
this Agreement. 
 “Ruling” means a ruling from the IRS substantially to the effect that, in respect of any action
described in Section 7.01(c), such action will not affect (a) the Tax-Free Status, and/or (b) the intended Tax treatment of any applicable
Tax-Free Separation Transaction. 
 “Separation Agreement” has the meaning set
forth in the recitals hereto. 
 “Separation Transactions” means those transactions undertaken by the Parties and their
Affiliates pursuant to the Internal Reorganization and Business Realignment. 
 “Straddle Period” means any Tax Period that
begins before and ends after the Distribution Date. 
 “Subsidiary” has the meaning set forth in the Separation Agreement.

 “Tax” or “Taxes” means any income, gross income, gross receipts, profits, capital stock, franchise,
withholding, payroll, social security, workers compensation, unemployment, disability, property, ad valorem, value added, stamp, excise, severance, occupation, service, sales, use, license, lease, transfer, import, export, escheat, alternative
minimum, estimated, or other tax (including any fee, assessment, or other charge in the nature of or in lieu of any tax), imposed by any governmental entity or political subdivision thereof, and any interest, penalty, additions to tax, or additional
amounts in respect of the foregoing. 

  
 7 

 “Tax Advisor” means a tax counsel or accountant, in each case of recognized
national standing. 
 “Tax Attribute” means a net operating loss, net capital loss, unused investment credit, unused
foreign tax credit, excess charitable contribution, general business credit, research and development credit, or any other Tax Item that could reduce a Tax or create a Tax Benefit. 

“Tax Benefit” means any refund, credit, or other reduction in otherwise required liability for Taxes. 

“Tax Contest” means an audit, review, examination, or any other administrative or judicial proceeding with the purpose or
effect of redetermining Taxes (including any administrative or judicial review of any claim for refund). 
 “Tax-Free Separation Transactions” means those Separation Transactions that are described in the IRS Ruling as qualifying partially or wholly as tax-free for U.S.
federal income tax purposes. 
 “Tax-Free Status” means the qualification of the
Contribution and the Distribution, taken together, (a) as a reorganization described in Sections 355(a) and 368(a)(1)(D) of the Code, (b) as a transaction in which the stock distributed thereby is “qualified property” for
purposes of Sections 355(d), 355(e), and 361(c) of the Code, and (c) as a transaction in which IP RemainCo, Product SpinCo, and the shareholders of IP RemainCo recognize no income or gain for U.S. federal income tax purposes pursuant to
Sections 355, 361, and 1032 of the Code, other than, in the case of IP RemainCo and Product SpinCo, intercompany items or excess loss accounts taken into account pursuant to the Treasury Regulations promulgated pursuant to Section 1502 of the
Code. 
 “Tax Item” means any item of income, gain, loss, deduction, expense, or credit, or other attribute that may have
the effect of increasing or decreasing any Tax. 
 “Tax Law” means the law of any governmental entity or political
subdivision thereof relating to any Tax. 
 “Tax Opinions/Rulings” means the formal written opinions of Tax Advisors and/or
the rulings by the IRS or other Taxing Authorities deliverable to IP RemainCo in connection with the Contribution and the Distribution or otherwise with respect to the Separation Transactions, including, for the avoidance of doubt, the IRS Ruling.

 “Tax Period” means, with respect to any Tax, the period for which the Tax is reported as provided under the Code or
other applicable Tax Law. 
 “Tax Records” means any (a) Tax Returns, (b) Tax Return workpapers,
(c) documentation relating to any Tax Contests, and (d) any other books of account or records (whether or not in written, electronic or other tangible or intangible forms and whether or not stored on electronic or any other medium)
required to be maintained under the Code or other applicable Tax Laws or under any record retention agreement with any Taxing Authority, in each case filed with respect to or otherwise relating to Taxes. 

  
 8 

 “Tax Return” means any report of Taxes due, any claim for refund of Taxes
paid, any information return with respect to Taxes, or any other similar report, statement, declaration, or document required to be filed under the Code or other Tax Law with respect to Taxes, including any attachments, exhibits, or other materials
submitted with any of the foregoing, and including any amendments or supplements to any of the foregoing. 
 “Taxing
Authority” means, with respect to any Tax, the governmental entity or political subdivision thereof that imposes such Tax, and the agency (if any) charged with the collection of such Tax for such entity or subdivision. 

“TiVo” means TiVo Corporation, a Delaware corporation, and any successor entity thereto (including, for the avoidance of
doubt, TiVo LLC, a Delaware limited liability company). 
 “Transfer Pricing Adjustment” means any proposed or actual
allocation by a Taxing Authority of any Tax Item between or among any member of the IP RemainCo Group and any member of the Product SpinCo Group with respect to any Tax Period ending prior to or including the Distribution Date. 

“Treasury Regulations” means the regulations promulgated from time to time under the Code as in effect for the relevant Tax
Period. 
 “Unqualified Tax Opinion” means an unqualified “will” opinion of a Tax Advisor, on which the Parties
may rely substantially to the effect that a transaction will not (a) affect the Tax-Free Status, and/or (b) cause any Tax-Free Separation Transaction to fail
to qualify for the intended tax treatment as described in the IRS Ruling. Any such opinion must assume that the Contribution and the Distribution, taken together, would have qualified for the Tax-Free Status
and that other Tax-Free Separation Transactions would have qualified for the intended tax treatment as described in the IRS Ruling. 

“Xperi” means Xperi Corporation, a Delaware corporation, and any successor entity thereto. 

Section 2. Allocation of Tax Liabilities. 

Section 2.01 General Rule. 

(a) IP RemainCo Liability. IP RemainCo shall be liable for, and shall indemnify and hold harmless the Product SpinCo Group from
and against (i) any liability for IP RemainCo Taxes, and (ii) any Distribution Tax-Related Losses for which IP RemainCo is responsible pursuant to Section 7.04. 

(b) Product SpinCo Liability. Product SpinCo shall be liable for, and shall indemnify and hold harmless the IP RemainCo Group
from and against (i) any liability for Product SpinCo Taxes, and (ii) any Distribution Tax-Related Losses for which Product SpinCo is responsible pursuant to Section 7.04.

 Section 2.02 Tax Year Ends. IP RemainCo and Product SpinCo shall take all actions necessary or
appropriate to close the taxable year of Product SpinCo and each member of the Product SpinGo Group for all Tax purposes as of the close of the Distribution Date to the extent permissible or required under applicable Tax Law. 

  
 9 

 Section 3. Preparation and Filing of Tax Returns. 

Section 3.01 General. Tax Returns shall be prepared and filed when due (including extensions) in accordance
with this Section 3. The Parties shall provide, and shall cause their Affiliates to provide, assistance and cooperation to one another in accordance with Section 8 with respect to the preparation
and filing of Tax Returns, including providing information required to be provided in Section 8. 

Section 3.02 Responsibility for Preparation and Filing. IP RemainCo shall prepare and timely file, or cause
to be prepared and timely filed, taking into account applicable extensions, all Consolidated Returns required to be filed with respect to or including a Pre-Distribution Period, and shall pay, or cause to be
paid, all Taxes shown as due and payable on such Consolidated Returns. Except as set forth in the prior sentence, each Party shall prepare and timely file, or cause to be prepared and timely filed, taking into account applicable extensions, all Tax
Returns required to be filed by such Party or any member of such Party’s Group under applicable Tax Law, and shall pay, or cause to be paid, all Taxes shown as due and payable on such Tax Returns. 

Section 3.03 Tax Reporting Practices. 

(a) General Rule. With respect to any Tax Return that either Party has the obligation and right to prepare and file, or cause to
be prepared and filed, under Section 3.02, such Tax Return shall, to the extent consistent with applicable Tax Law, be prepared in accordance with past practices, accounting methods, elections, or conventions, to the extent
such Tax Return may reasonably be expected to affect the Tax liability of the other Party or any member of the other Party’s Group. 

(b) Reporting of Contribution, Distribution, and Tax-Free Separation Transactions. The
Tax treatment reported on any Tax Return of (i) the Contribution and Distribution, taken together, and (ii) each Tax-Free Separation Transaction, shall be consistent with the treatment of such
transaction as described in the IRS Ruling. 
 Section 3.04 Consolidated or Combined Tax Returns. 

(a) Product SpinCo will elect and join, and will cause its applicable Affiliates to elect and join, in filing any consolidated,
combined, or unitary Tax Returns that IP RemainCo determines in good faith are required to be filed by IP RemainCo under Section 3.02 with Product SpinCo and/or Affiliates of Product SpinCo. With respect to all Product
SpinCo Consolidated Returns for the taxable year which includes the Distribution Date, Product SpinCo shall use (or cause to be used) the closing of the books method under Treasury Regulations
Section 1.1502-76 (or analogous method under applicable state, local, or non-U.S. Tax Law). 

(b) IP RemainCo will elect and join, and will cause its applicable Affiliates to elect and join, in filing any consolidated, combined,
or unitary Tax Returns that Product SpinCo determines in good faith are required to be filed by Product SpinCo under Section 3.02 with IP RemainCo and/or Affiliates of IP RemainCo. With respect to all IP RemainCo
Consolidated Returns for the taxable year which includes the Distribution Date, IP RemainCo shall use (or cause to be used) the closing of the books method under Treasury Regulations Section 1.1502-76 (or
analogous method under applicable state, local, or non-U.S. Tax Law). 

  
 10 

 Section 3.05 Right to Review Tax Returns.  

(a) General. The Responsible Party with respect to any material Tax Return shall make the portion of such Tax Return and related
workpapers which are relevant to the determination of the other Party’s rights or obligations under this Agreement available for review by the other Party, if requested, to the extent (i) such Tax Return relates to Taxes for which the
requesting Party would reasonably be expected to be liable, (ii) the requesting Party would reasonably be expected to be liable in whole or in part for any additional Taxes owing as a result of adjustments to the amount of Taxes reported on
such Tax Return, (iii) such Tax Return relates to Taxes for which the requesting Party would reasonably be expected to have a claim for Tax Benefits under this Agreement, or (iv) the requesting Party reasonably determines that it must
inspect such Tax Return to confirm compliance with the terms of this Agreement. The Responsible Party shall use reasonable best efforts to (A) make such portion of such Tax Return available for review as required under this paragraph
sufficiently in advance of the due date for filing of such Tax Return to provide the requesting Party with a meaningful opportunity to analyze and comment on such Tax Return, and (B) have such Tax Return modified before filing to address
reasonable comments made by the requesting Party, taking into account the Party responsible for payment of the Tax (if any) reported on such Tax Return and whether the amount of Tax liability allocable to the requesting Party with respect to such
Tax Return is material. The Parties shall use good faith efforts to resolve any issues arising out of the review of any Tax Returns.

(b) Material Tax Returns. For purposes of Section 3.05(a), a Tax Return is “material” if it
could reasonably be expected to reflect (i) Tax liability equal to or in excess of $150,000 (ii) a credit or credits equal to or in excess of $150,000, or (iii) a loss or losses equal to or in excess of $600,000, in each case with respect
to the requesting party. 
 Section 3.06 Refunds, Carrybacks, and Amended Tax Returns. 

(a) Refunds. IP RemainCo shall be entitled to any Refund of Taxes for which IP RemainCo is liable hereunder, Product SpinCo
shall be entitled to any Refund of Taxes for which Product SpinCo is liable hereunder, and a Party receiving a Refund to which the other Party is entitled hereunder shall pay over such Refund (net of any reasonable expenses incurred by the receiving
Party in connection with the receipt of such Refund) to such other Party within twenty (20) Business Days after such refund is received. Each Party shall cooperate in good faith with any reasonable request to pursue any Refund to which either
Party may be entitled under this Section 3.06(a). 

  
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 (b) Carrybacks. 

(i) Each Party shall be permitted (but not required) to carry back (or to cause its Affiliates to carry back) a Tax Attribute
realized in a Post-Distribution Period to a Pre-Distribution Period only if such carryback cannot reasonably result in the other Party (or its Affiliates) being liable for additional Taxes. If a carryback
could reasonably result in the other Party (or its Affiliates) being liable for additional Taxes, such carryback shall be permitted only if such other Party consents in writing to such carryback. 

(ii) Notwithstanding anything to the contrary in this Agreement, (A) any Party that has claimed (or caused one or more of
its Affiliates to claim) a Tax Attribute carryback shall be liable for any Taxes that result from such carryback claim or that become due and payable as a result of the subsequent adjustment, if any, to the carryback claim, and (B) no Party
shall be required to file, or cause to be filed, any Tax Return, including an amended Tax Return, affecting the carry back of a Tax Attribute realized in a Post-Distribution Period to a Pre-Distribution
Period. 
 (iii) A Party shall be entitled to any Refund that is attributable to, and would not have arisen but for, a
carryback of a Tax Attribute by such Party pursuant to the provisions set forth in this Section 3.06(b). 
 (c)
Amended Tax Returns. 
 (i) Product SpinCo shall not file (or permit to be filed) any amended Tax Return for a member of
the Product SpinCo Group that relates to a Pre-Distribution Period or any Tax Return that IP RemainCo has reviewed in connection with its rights under Section 3.05 without the prior
written consent (not to be unreasonably withheld, conditioned, or delayed) of IP RemainCo. 
 (ii) IP RemainCo shall not file
(or permit to be filed) any amended Tax Return that Product SpinCo has reviewed in connection with its rights under Section 3.05 without the prior written consent (not to be unreasonably withheld, conditioned, or delayed)
of Product SpinCo. 
 Section 3.07 Apportionment of Tax Attributes. 

(a) IP RemainCo shall use its best efforts, within ninety (90) Business Days following the close of the year of the Distribution,
to advise Product SpinCo in writing of the proposed amount, if any, of any Tax Attributes that IP RemainCo reasonably determines shall be allocated or apportioned to the Product SpinCo Group under applicable Tax Law. Product SpinCo shall have sixty
(60) Business Days to review and provide to IP RemainCo written comments on such allocation and apportionment after receipt thereof from IP RemainCo. The Tax departments of IP RemainCo and Product SpinCo shall negotiate in good faith to resolve
any disagreements in respect of the allocation and apportionment within thirty (30) Business Days after IP RemainCo’s receipt of any such written comments from Product SpinCo. If any such disagreements cannot be resolved within such thirty
(30) Business Day period, then such disagreements shall be resolved in accordance with the provisions of Section 14. If Product SpinCo does not submit written comments to IP RemainCo within Product SpinCo’s sixty
(60) Business Day review and comment period described above, the allocation and apportionment of Tax Attributes as determined by IP RemainCo and delivered to Product SpinCo pursuant to the 

  
 12 

 
first sentence of this Section 3.07 shall be deemed final, and Product SpinCo agrees that it shall not dispute such allocation and apportionment. Notwithstanding
anything to the contrary contained herein, IP RemainCo shall bear no liability to Product SpinCo for determinations made by IP RemainCo pursuant to this Section 3.07(a) if any such determination shall be found or asserted
to be inaccurate. 
 (b) In the event there is an adjustment to any Tax Attributes reflected on a Tax Return relating to a Pre-Distribution Period that affects the apportionment or allocation of Tax Attributes as finally determined under Section 3.07(a), the Party whose Group made such adjustment (or is party
to a Tax Contest resulting in such adjustment) shall promptly notify the other Party of such adjustment, and the allocation and apportionment of Tax Attributes as finally determined under Section 3.07(a) shall be updated to
take into account such adjustment. 
 (c) IP RemainCo shall, and shall cause all members of the IP RemainCo Group to, and Product
SpinCo shall, and shall cause all members of the Product SpinCo Group to, prepare and file all Tax Returns in accordance with the allocation and apportionment of Tax Attributes as finally determined under Section 3.07(a),
and adjusted (if applicable) under Section 3.07(b), unless otherwise required pursuant to a Final Determination. 

Section 4. Indemnification Payments. 

Section 4.01 Indemnification Payments. 

(a) If any Party (the “Payor”) or any Affiliate of the Payor is required under applicable Tax Law to pay to a Taxing
Authority a Tax that the other Party (the “Required Party”) is liable for under this Agreement, the Payor shall provide notice to the Required Party for the amount due, accompanied by evidence of payment and a statement detailing
the Taxes paid and describing in reasonable detail the particulars relating thereto. Such Required Party shall have a period of thirty (30) days after the receipt of notice to respond thereto. Unless the Required Party disputes the amount it is
liable for under this Agreement within the thirty (30) day period described in the preceding sentence, the Required Party shall reimburse the Payor within sixty (60) Business Days of delivery by the Payor of the notice described above. To
the extent the Required Party does not agree with the amount the Payor claims the Required Party is liable for under this Agreement, the dispute shall be resolved in accordance with Section 14. 

(b) Any Tax indemnity payment required to be made by the Required Party pursuant to this Agreement shall be reduced by any
corresponding Tax Benefit payment required to be made to the Required Party by the other Party pursuant to Section 5. For the avoidance of doubt, a Tax Benefit realized is treated as corresponding to a Tax indemnity payment
to the extent the Tax Benefit realized is attributable to the same Tax Item (or adjustment of such Tax Item pursuant to a Final Determination) that gave rise to the Tax indemnity payment. 

(c) All indemnification payments under this Agreement shall be made by IP RemainCo directly to Product SpinCo and by Product SpinCo
directly to IP RemainCo; provided, however, that if the Parties mutually agree with respect to any such indemnification payment, any member of the IP RemainCo Group, on the one hand, may make such indemnification payment to any member
of the Product SpinCo Group, on the other hand, and vice versa. Notwithstanding the prior sentence, all indemnification payments shall be treated in the manner described in Section 13. 

  
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 Section 5. Tax Benefits. 

Section 5.01 Realized Tax Benefits. If a member of the Product SpinCo Group realizes any Tax Benefit as a
result of an adjustment pursuant to a Final Determination to any Taxes for which a member of the IP RemainCo Group is liable hereunder or under the Employee Matters Agreement, or if a member of the IP RemainCo Group realizes any Tax Benefit as a
result of an adjustment pursuant to a Final Determination to any Taxes for which a member of the Product SpinCo Group is liable hereunder or under the Employee Matters Agreement, Product SpinCo or IP RemainCo, as the case may be, shall make a
payment to the other Party within one hundred twenty (120) Business Days following such realization of the Tax Benefit, in an amount equal to such Tax Benefit. For the avoidance of doubt, if such Tax Benefit results in the reduction of an
indemnity payment pursuant to Section 4.01(b), no payment shall be required under this Section 5 to the extent the Required Party reduced its Tax indemnity payment under
Section 4.01(b). 
 Section 5.02 Tax Benefit Payments. No later than ninety
(90) Business Days after a Tax Benefit described in Section 5.01 is realized by a member of the IP RemainCo Group or a member of the Product SpinCo Group, IP RemainCo (if a member of the IP RemainCo Group realizes such
Tax Benefit) or Product SpinCo (if a member of the Product SpinCo Group realizes such Tax Benefit) shall provide the other Party with notice of the amount payable to such other Party by IP RemainCo or Product SpinCo pursuant to this
Section 5, together with a written calculation supporting such amount. In the event that IP RemainCo or Product SpinCo disagrees with any such calculation described in this Section 5.02, IP
RemainCo or Product SpinCo shall so notify the other Party in writing within thirty (30) Business Days of receiving such written calculation. IP RemainCo and Product SpinCo shall endeavor in good faith to resolve such disagreement and the
amount payable under this Section 5 shall be determined in accordance with the disagreement resolution provisions of Section 14 as promptly as practicable.  

Section 6. Employment Tax Matters. Notwithstanding anything contained herein to the contrary, the Employee
Matters Agreement shall govern with respect to the allocation of (a) liability for Employment Taxes and related Tax reporting and withholding obligations, and (b) Tax Items allocated pursuant to the Employee Matters Agreement. 

Section 7. Tax-Free Status. 

Section 7.01 Restrictions on Product SpinCo. 

(a) Product SpinCo agrees that it will not take or fail to take, or permit any Affiliate to take or fail to take, any action where such
action or failure to act would be inconsistent with or cause to be untrue any statement, information, covenant, or representation in any Representation Letter or Tax Opinion/Ruling. Product SpinCo agrees that it will not take or fail to take, or
permit any Affiliate to take or fail to take, any action which could reasonably be expected to adversely affect (i) the Tax-Free Status, or (ii) the intended Tax treatment of any Tax-Free Separation Transaction. 

  
 14 

 (b) Product SpinCo agrees that, from the date hereof until the first Business Day
after the two-year anniversary of the Distribution Date, it will (i) maintain its status as a company engaged in the Active Trade or Business for purposes of Section 355(b)(2) of the Code,
(ii) not engage in any transaction that would result in it ceasing to be a company engaged in the Active Trade or Business for purposes of Section 355(b)(2) of the Code, (iii) cause each Affiliate whose Active Trade or Business is
relied upon in the Tax Opinions/Rulings for purposes of qualifying a Tax-Free Separation Transaction as tax-free pursuant to Section 355 of the Code or other Tax
Law to maintain its status as a company engaged in such Active Trade or Business for purposes of Section 355(b)(2) of the Code and any such other applicable Tax Law, (iv) not engage in any transaction or permit any Affiliate to engage in
any transaction that would result in an Affiliate described in clause (iii) hereof ceasing to be a company engaged in the relevant Active Trade or Business for purposes of Section 355(b)(2) or such other applicable Tax Law, taking into
account Section 355(b)(3) of the Code for purposes of clauses (i) through (iv) hereof, and (v) not dispose of or permit an Affiliate to dispose of, directly or indirectly, any interest in an Affiliate described in clause
(iii) hereof or permit any such Affiliate to make or revoke any election under Treasury Regulations Section 301.7701-3. 

(c) Product SpinCo agrees that, from the date hereof until the first Business Day after the
two-year anniversary of the Distribution Date, it will not and will not permit any Affiliate described in clause (iii) of Section 7.01(b), to (i) enter into any Proposed
Acquisition Transaction or, to the extent Product SpinCo has the right to prohibit any Proposed Acquisition Transaction, permit any Proposed Acquisition Transaction to occur (whether by (A) redeeming rights under a shareholder rights plan,
(B) finding a tender offer to be a “permitted offer” under any such plan or otherwise causing any such plan to be inapplicable or neutralized with respect to any Proposed Acquisition Transaction, (C) approving any Proposed
Acquisition Transaction, whether for purposes of Section 203 of the DGCL or any similar corporate statute, any “fair price” or other provision of its charter or bylaws, (D) amending its certificate of incorporation to declassify
its Board of Directors or approving any such amendment, or (E) otherwise), (ii) merge or consolidate with any other Person or liquidate or partially liquidate, (iii) in a single transaction or series of transactions sell or transfer (other
than sales or transfers of inventory in the ordinary course of business) all or substantially all of the assets that were transferred (or deemed to be transferred for U.S. federal income tax purposes) to Product SpinCo pursuant to the Contribution
or sell or transfer 25% or more of the gross assets of any Active Trade or Business or 25% or more of the consolidated gross assets of Product SpinCo and its Affiliates (such percentages to be measured based on fair market value as of the initial
Distribution Date), (iv) redeem or otherwise repurchase (directly or through an Affiliate) any of its stock, or rights to acquire stock, except to the extent such repurchases satisfy Section 4.05(1)(b) of Revenue Procedure 96-30 (as in effect prior to the amendment of such Revenue Procedure by Revenue Procedure 2003-48), (v) amend its certificate of incorporation (or other organizational
documents), or take any other action, whether through a stockholder vote or otherwise, affecting the voting rights of its Capital Stock (including, without limitation, through the conversion of one class of its Capital Stock into another class of
its Capital Stock), or (vi) take any other action or actions (including any action or transaction that would be reasonably likely to be inconsistent with any representation made in the Representation Letters or the Tax Opinions/Rulings) which
in the aggregate (and taking into account (x) any other transactions described in this Section 7.01(c), and (y) the Merger) would be reasonably likely to have the effect of causing or permitting one or more
persons (whether or not acting in concert) to acquire directly or indirectly stock representing a Fifty-Percent or 

  
 15 

 
Greater Interest in Product SpinCo or otherwise jeopardize the Tax-Free Status, unless prior to taking any such action set forth in the foregoing
clauses (i) through (vi), (A) Product SpinCo shall have (I) requested and obtained from IP RemainCo consent to obtain a Ruling in accordance with Section 7.03, and (II) received such Ruling in form and
substance reasonably satisfactory to IP RemainCo, (B) Product SpinCo shall have provided to IP RemainCo an Unqualified Tax Opinion in form and substance reasonably satisfactory to IP RemainCo, or (C) IP RemainCo shall have waived the
requirement to obtain such Ruling or Unqualified Tax Opinion. In determining whether a Ruling or Unqualified Tax Opinion is satisfactory, IP RemainCo may consider, among other factors, the appropriateness of any underlying assumptions,
representations, or covenants used as a basis for the Ruling or Unqualified Tax Opinion and the views on the substantive merit. Product SpinCo shall bear all costs and expenses of securing any such Ruling or Unqualified Tax Opinion and shall
reimburse IP RemainCo for all reasonable out-of-pocket costs and expenses that IP RemainCo may incur in seeking to obtain or evaluate any such Ruling or Unqualified Tax
Opinion. For the avoidance of doubt, the presence of such a Ruling or Unqualified Tax Opinion, or the waiver by IP RemainCo of the requirement to obtain a Ruling or Unqualified Tax Opinion, shall not relieve Product SpinCo from any indemnification
obligations otherwise present under this Agreement. 
 Section 7.02 Restrictions on IP RemainCo. IP
RemainCo agrees that it will not take or fail to take, or permit any Affiliate to take or fail to take, any action (a) where such action or failure to act would be inconsistent with or cause to be untrue any statement, information, covenant or
representation in any Representation Letter or Tax Opinion/Ruling, or (b) which adversely affects or could reasonably be expected to adversely affect (i) the Tax-Free Status, or (ii) the
intended Tax treatment of any Tax-Free Separation Transaction; provided, however, that this Section 7.02 shall not be construed as obligating IP RemainCo to consummate
the Distribution nor shall it be construed as preventing IP RemainCo from terminating the Separation Agreement pursuant to the terms thereof. 

Section 7.03 Procedures Regarding Opinions and Rulings. If Product SpinCo notifies IP RemainCo that it
desires to take one of the actions described in clauses (i) through (vi) of Section 7.01(c), IP RemainCo and Product SpinCo shall reasonably cooperate to attempt to obtain the Ruling or Unqualified Tax Opinion referred
to in Section 7.01(c), unless IP RemainCo shall have waived the requirement to obtain such Ruling or Unqualified Tax Opinion. If such a Ruling is to be sought, Product SpinCo shall apply for such Ruling and IP RemainCo
shall jointly control the process of obtaining such Ruling. IP RemainCo shall take any and all actions reasonably requested by Product SpinCo in connection with obtaining such Ruling or Unqualified Tax Opinion (including by making any representation
or reasonable covenant or providing any materials requested by the IRS in connection with such Ruling or the Tax Advisor issuing such Unqualified Tax Opinion); provided, that IP RemainCo shall not be required to make (or cause any of its
Affiliates to make) any representation or covenant that is untrue or inconsistent with historical facts, or as to future matters or events over which it has no control (in each case, as determined by IP RemainCo in its reasonable discretion). In no
event shall Product SpinCo be permitted to file any request for a Ruling under this Section 7.03 unless IP RemainCo has approved such request (such approval not to be unreasonably withheld, conditioned, or delayed). Product
SpinCo shall reimburse IP RemainCo for all reasonable costs and expenses incurred by IP RemainCo and its Affiliates in obtaining or seeking to obtain a Ruling or Unqualified Tax Opinion requested by Product SpinCo within forty-five (45) days
after receiving an invoice from IP RemainCo therefor. 

  
 16 

 Section 7.04 Liability for Distribution Tax-Related Losses. 
 (a) In the event that Distribution Taxes become due and payable to a
Taxing Authority pursuant to a Final Determination, then, notwithstanding anything to the contrary in this Agreement: 
 (i)
if such Distribution Taxes are attributable to an IP RemainCo Tainting Act, then IP RemainCo shall be responsible for any Distribution Tax-Related Losses arising out of such Distribution Taxes; 

(ii) if such Distribution Taxes are attributable to a Product SpinCo Tainting Act, then Product SpinCo shall be responsible for
any Distribution Tax-Related Losses arising out of such Distribution Taxes; 
 (iii)
if such Distribution Taxes are attributable to both an IP RemainCo Tainting Act and a Product SpinCo Tainting Act, responsibility for any Distribution Tax-Related Losses arising out of such Distribution Taxes
shall be allocated between IP RemainCo and Product SpinCo according to relative fault; provided, however, that if such Distribution Taxes result from the application of Section 355(e) of the Code to the Distribution or any Tax-Free Separation Transaction intended to be tax-free under Section 355 of the Code, (A) IP RemainCo shall be 100% responsible for any Distribution Tax-Related Losses if an IP RemainCo Tainting Act causes such application of Section 355(e) of the Code and a Product SpinCo Tainting Act does not cause such application of Section 355(e) of the Code, and
(B) Product SpinCo shall be 100% responsible for any Distribution Tax-Related Losses if a Product SpinCo Tainting Act causes such application of Section 355(e) of the Code and an IP RemainCo Tainting
Act does not cause such application of Section 355(e) of the Code; and 
 (iv) if such Distribution Taxes are not
attributable to an IP RemainCo Tainting Act or a Product SpinCo Tainting Act, then responsibility for any Distribution Tax-Related Losses arising out of such Distribution Taxes shall be shared by IP RemainCo
and Product SpinCo in accordance with IP RemainCo’s and Product SpinCo’s relative market capitalizations as of the Distribution Date (determined based on the average trading prices of IP RemainCo and Product SpinCo during the ten trading
days beginning on the Distribution Date). 
 (b) For purposes of calculating the amount and timing of any Distribution Tax-Related Loss for which a Party is responsible under Section 7.04(b), Distribution Tax-Related Losses shall be calculated by assuming that the
Party incurring such Losses, such Party’s affiliated group (within the meaning of Section 1504 of the Code), and each member of such Party’s Group (i) pay Tax at the highest marginal corporate Tax rates in effect in each relevant
taxable year, and (ii) have no Tax Attributes in any relevant year. 
 Section 8. Assistance and
Cooperation. 

  
 17 

 Section 8.01 Assistance and Cooperation. 

(a) The Parties shall cooperate (and cause their respective Affiliates to cooperate) with each other and with each other’s agents,
including accounting firms and legal counsel, in connection with Tax matters relating to the Parties and their Affiliates including (i) preparation and filing of Tax Returns, (ii) determining the liability for and amount of any Taxes due
(including estimated Taxes) or the right to and amount of any Refund, (iii) examinations of Tax Returns, (iv) any administrative or judicial proceeding in respect of Taxes assessed or proposed to be assessed, and (v) preparation of
the provision for Taxes to be reported in IP RemainCo’s year-end financial statements for the year of the Distribution. Such cooperation shall include making all information and documents in their
possession relating to the other Party and its Affiliates available to such other Party as provided in Section 9. Each of the Parties shall also make available to the other, as reasonably requested and available,
personnel (including officers, directors, employees, and agents of the Parties or their respective Affiliates) responsible for preparing, maintaining, and interpreting information and documents relevant to Taxes, and personnel reasonably required as
witnesses or for purposes of providing information or documents in connection with any administrative or judicial proceedings relating to Taxes. In the event that a member of the IP RemainCo Group, on the one hand, or a member of the Product
SpinCo Group, on the other hand, suffers a Tax detriment as a result of a Transfer Pricing Adjustment, the Parties shall cooperate pursuant to this Section 8 to seek any competent authority relief that may be available with
respect to such Transfer Pricing Adjustment. Product SpinCo shall cooperate with IP RemainCo and take any and all actions reasonably requested by IP RemainCo in connection with obtaining and maintaining the effectiveness of the Tax
Opinions/Rulings (including, without limitation, by making any new representation or covenant, confirming any previously made representation or covenant, or providing any materials or information requested by any Tax Advisor or Taxing Authority);
provided, that, Product SpinCo shall not be required to make or confirm any representation or covenant that is inconsistent with historical facts or as to future matters or events over which it has no control. The requesting Party shall
reimburse the other Party for all third-party and reasonable costs and expenses, including $200 per hour for expenses relating to the utilization of the other Group’s personnel, incurred by the cooperating Group in complying with this
Section 8.01(a); provided, that, neither Party shall be required to reimburse the other for such personnel expenses except to the extent that the aggregate amount of such cooperating Group personnel expenses exceeds
$10,000 or the aggregate time spent by the cooperating Group personnel in connection with such cooperation exceeds 50 hours (it being expressly understood and acknowledged that all cooperation requested by a Party pursuant to this
Section 8.01(a) shall count against such $10,000 and 50 hour thresholds, and such thresholds shall not apply on a per-month or per-invoice
basis). A Party entitled to reimbursement pursuant to the preceding sentence (x) may issue an invoice for reimbursement in the month following the month in which the applicable cooperation was provided, but (y) shall, in any event,
issue an invoice for such reimbursement no later than thirty (30) days after the end of the fiscal quarter in which the applicable cooperation was provided, and each invoice shall set forth a description of the cooperation provided. Each
invoice shall be payable within forty-five (45) days after the requesting Party’s receipt of the invoice. The Transition Services Agreement, dated as of October 1, 2022, by and between IP RemainCo and Product SpinCo, and the schedules
thereto, shall govern the payment for inter-Group support and services in respect of Tax items expressly provided for therein, and the preceding three sentences shall not apply with respect to such Tax items. 

  
 18 

 (b) Any information or documents provided under this
Section 8 shall be kept confidential by the Party receiving the information or documents, except as may otherwise be necessary in connection with the filing of Tax Returns or in connection with any administrative or
judicial proceedings relating to Taxes. Notwithstanding any other provision of this Agreement or any other agreement, (i) neither IP RemainCo nor any Affiliate of IP RemainCo shall be required to provide Product SpinCo or any Affiliate of
Product SpinCo or any other Person access to or copies of any information, documents, or procedures (including the proceedings of any Tax Contest) other than information, documents or procedures that relate to Product SpinCo, the business or assets
of Product SpinCo, or any Affiliate of Product SpinCo, and (ii) in no event shall IP RemainCo or any Affiliate of IP RemainCo be required to provide Product SpinCo, any Affiliate of Product SpinCo, or any other Person access to or copies of any
information or documents if such action could reasonably be expected to result in the waiver of any Privilege. In addition, in the event that either Party determines that the provision of any information or documents to the other Party or any
Affiliate thereof could be commercially detrimental, violate any law or agreement, or waive any Privilege, the Parties shall use reasonable best efforts to permit compliance with its obligations under this Section 8 in a
manner that avoids any such harm or consequence. 
 Section 8.02 Income Tax Return Information. IP RemainCo
and Product SpinCo acknowledge that time is of the essence in relation to any request for information, assistance, or cooperation made by IP RemainCo or Product SpinCo pursuant to Section 8.01 or this
Section 8.02. IP RemainCo and Product SpinCo acknowledge that failure to conform to the reasonable deadlines set by IP RemainCo or Product SpinCo could cause irreparable harm. Each Party shall provide to the other Party
information and documents relating to its Group required by the other Party to prepare Tax Returns, including, but not limited to, any pro forma returns required by the Responsible Party for purposes of preparing such Tax Returns. Any information or
documents the Responsible Party requires to prepare such Tax Returns shall be provided in such form as the Responsible Party reasonably requests and at or prior to the time reasonably specified by the Responsible Party so as to enable the
Responsible Party to file such Tax Returns on a timely basis. 
 Section 8.03 Reliance by IP RemainCo. If
any member of the Product SpinCo Group supplies information to a member of the IP RemainCo Group in connection with a Tax liability and an officer of a member of the IP RemainCo Group signs a statement or other document under penalties of perjury in
reliance upon the accuracy of such information, then upon the written request of such member of the IP RemainCo Group identifying the information being so relied upon, the chief financial officer of Product SpinCo (or any officer of Product SpinCo
as designated by the chief financial officer of Product SpinCo) shall certify in writing that to his or her knowledge (based upon consultation with appropriate employees) the information so supplied is accurate and complete. 

Section 8.04 Reliance by Product SpinCo. If any member of the IP RemainCo Group supplies information to a
member of the Product SpinCo Group in connection with a Tax liability and an officer of a member of the Product SpinCo Group signs a statement or other document under penalties of perjury in reliance upon the accuracy of such information, then upon
the written request of such member of the Product SpinCo Group identifying the information being so relied upon, the chief financial officer of IP RemainCo (or any officer of IP RemainCo as designated by the chief financial officer of IP RemainCo)
shall certify in writing that to his or her knowledge (based upon consultation with appropriate employees) the information so supplied is accurate and complete. 

  
 19 

 Section 8.05
Non-Performance. If a Party (or any of its Affiliates) fails to comply with any of its obligations set forth in this Section 8 upon reasonable request and notice by the other
Party (or any of its Affiliates) and such failure results in the imposition of additional Taxes, the non-performing Party shall be liable in full for such additional Taxes. 

Section 9. Tax Records. 

Section 9.01 Retention of Tax Records. Each Party shall preserve and keep all Tax Records exclusively
relating to the assets and activities of its Group for Pre-Distribution Periods, and IP RemainCo shall preserve and keep all other Tax Records relating to Taxes of the Groups for
Pre-Distribution Tax Periods, for so long as the contents thereof may become material in the administration of any matter under the Code or other applicable Tax Law, but in any event until the later of
(a) the expiration of any applicable statutes of limitations, or (b) seven years after the Distribution Date (such later date, the “Retention Date”). After the Retention Date, each Party may dispose of such Tax Records
upon sixty (60) Business Days’ prior written notice to the other Party. If, prior to the Retention Date, a Party reasonably determines that any Tax Records which it would otherwise be required to preserve and keep under this
Section 9 are no longer material in the administration of any matter under the Code or other applicable Tax Law and the other Party agrees, then such first Party may dispose of such Tax Records upon sixty (60) Business
Days’ prior notice to the other Party. Any notice of an intent to dispose given pursuant to this Section 9.01 shall include a list of the Tax Records to be disposed of describing in reasonable detail each file, book,
or other record accumulation being disposed. The notified Party shall have the opportunity, at its cost and expense, to copy or remove, within such sixty (60) Business Day period, all or any part of such Tax Records. If, at any time prior to
the Retention Date, a Party determines to decommission or otherwise discontinue any computer program or information technology system used to access or store any Tax Records, then such Party may decommission or discontinue such program or system
upon ninety (90) Business Days’ prior notice to the other Party and the other Party shall have the opportunity, at its cost and expense, to copy, within such ninety (90) Business Day period, all or any part of the underlying data
relating to the Tax Records accessed by or stored on such program or system. 
 Section 9.02 Access to Tax
Records. The Parties and their respective Affiliates shall make available to each other for inspection and copying during normal business hours upon reasonable notice all Tax Records (and, for the avoidance of doubt, any pertinent underlying
data accessed or stored on any computer program or information technology system) in their possession and shall permit the other Party and its Affiliates, authorized agents and representatives and any representative of a Taxing Authority or other
Tax auditor direct access, at the cost and expense of such other Party, during normal business hours upon reasonable notice to any computer program or information technology system used to access or store any Tax Records, in each case to the extent
reasonably required by the other Party in connection with the preparation of Tax Returns or financial accounting statements, audits, litigation, or the resolution of items under this Agreement. 

  
 20 

 Section 9.03 Preservation of Privilege. Neither Party shall
(or permit any Affiliate to) provide access to, copies of, or otherwise disclose to any Person any documentation relating to Taxes existing prior to the Distribution Date to which Privilege may reasonably be asserted without the prior written
consent of the other Party, such consent not to be unreasonably withheld. 
 Section 10. Tax Contests. 

Section 10.01 Notice. Each of the Parties shall provide prompt notice to the other Party of any written
communication from a Taxing Authority regarding any pending Tax audit, assessment or proceeding or other Tax Contest of which it becomes aware related to Taxes for Tax Periods for which it is indemnified by the other Party hereunder or for which it
may be required to indemnify the other Party hereunder. Such notice shall attach copies of the pertinent portion of any written communication from a Taxing Authority and contain factual information (to the extent known) describing any asserted Tax
liability in reasonable detail and shall be accompanied by copies of any notice and other documents received from any Taxing Authority in respect of any such matters. If a Party has knowledge of an asserted Tax liability with respect to a matter for
which it is to be indemnified hereunder and such Party fails to give the indemnifying Party prompt notice of such asserted Tax liability and the indemnifying Party is entitled under this Agreement to contest the asserted Tax liability, then
(a) if the indemnifying Party is precluded from contesting the asserted Tax liability in any forum as a result of the failure to give prompt notice, the indemnifying Party shall have no obligation to indemnify the indemnified Party for any
Taxes arising out of such asserted Tax liability, and (b) if the indemnifying Party is not precluded from contesting the asserted Tax liability in any forum, but such failure to give prompt notice results in a material monetary detriment to the
indemnifying Party, then any amount which the indemnifying Party is otherwise required to pay the indemnified Party pursuant to this Agreement shall be reduced by the amount of such detriment. 

Section 10.02 Control of Tax Contests. 

(a) Controlling Party. In the case of any Tax Contest with respect to any Tax Return, the Party that would be primarily liable
under this Agreement to pay the applicable Taxing Authority the Taxes resulting from such Tax Contest shall administer and control such Tax Contest (the “Controlling Party”). Notwithstanding the previous sentence, in the case of any
Tax Contest with respect to the Tax-Free Status or the tax treatment of any Tax-Free Separation Transaction, IP RemainCo shall be the Controlling Party; provided,
however, that if Product SpinCo may reasonably be expected to become liable to make any indemnification payment under this Agreement in connection with the resolution of such Tax Contest, Product SpinCo shall have the right to jointly control
the Tax Contest to the extent relating to Taxes for which Product SpinCo may reasonably be expected to indemnify under this Agreement, and IP RemainCo shall not settle any such Tax Contest without the prior written consent of Product SpinCo (not to
be unreasonably withheld, conditioned, or delayed) to the extent such settlement relates to Taxes for which Product SpinCo may reasonably be expected to indemnify under this Agreement.

  
 21 

 (b) Information Rights. Unless waived by the Parties in writing, in connection
with any potential adjustment in a Tax Contest as a result of which adjustment the other non- controlling Party (the “Non-Controlling Party”) may reasonably be expected to become liable to
make any indemnification payment (or any payment under Section 5) to the Controlling Party under this Agreement: (i) the Controlling Party shall keep the Non-Controlling Party
informed in a timely manner of all actions taken or proposed to be taken by the Controlling Party with respect to such potential adjustment in such Tax Contest; (ii) the Controlling Party shall provide the
Non-Controlling Party copies of any written materials relating to such potential adjustment in such Tax Contest received from any Taxing Authority; (iii) the Controlling Party shall timely provide the Non-Controlling Party with copies of any correspondence or filings submitted to any Taxing Authority or judicial authority in connection with such potential adjustment in such Tax Contest; (iv) the Controlling
Party shall consult with the Non-Controlling Party (including, without limitation, regarding the use of outside advisors to assist with the Tax Contest) and offer the
Non-Controlling Party a reasonable opportunity to comment before submitting any written materials prepared or furnished in connection with such potential adjustment in such Tax Contest; and (v) the
Controlling Party shall defend such Tax Contest diligently and in good faith. 
 (c) Tax Contest Participation. Unless waived
by the Parties in writing, the Controlling Party shall provide the Non-Controlling Party with written notice reasonably in advance of, and the Non-Controlling Party
shall have the right to attend, any formally scheduled meetings with Taxing Authorities or hearings or proceedings before any judicial authorities in connection with any potential adjustment in a Tax Contest pursuant to which the Non-Controlling Party may reasonably be expected to become liable to make any indemnification payment (or any payment under Section 5) to the Controlling Party under this Agreement. The
failure of the Controlling Party to provide any notice specified in this Section 10.02(c) to the Non-Controlling Party shall not relieve the
Non-Controlling Party of any liability and/or obligation which it may have to the Controlling Party under this Agreement except to the extent that the Non-Controlling
Party was actually harmed by such failure, and in no event shall such failure relieve the Non-Controlling Party from any other liability or obligation which it may have to the Controlling Party. 

(d) Power of Attorney. Each member of the Product SpinCo Group shall execute and deliver to IP RemainCo (or such member of the
IP RemainCo Group as IP RemainCo shall designate) any power of attorney or other similar document reasonably requested by IP RemainCo (or such designee) in connection with any Tax Contest (as to which IP RemainCo is the Controlling Party) described
in this Section 10. Each member of the IP RemainCo Group shall execute and deliver to Product SpinCo (or such member of the Product SpinCo Group as Product SpinCo shall designate) any power of attorney or other similar
document requested by Product SpinCo (or such designee) in connection with any Tax Contest (as to which Product SpinCo is the Controlling Party) described in this Section 10. 

(e) Costs. All external out-of-pocket costs and
expenses that are incurred by the Controlling Party with respect to a Tax Contest related to an adjustment which the Non-Controlling Party may reasonably be expected to become liable to make any
indemnification payment under this Agreement shall be shared by the Parties according to each Party’s relative share of the potential Tax liability with respect to the Tax Contest as determined under this Agreement; provided,
however, that a Non-Controlling Party shall not be liable for fees payable to outside advisors to the extent that the Controlling Party failed to consult with the
Non-Controlling Party to the extent required by Section 10.02(b). It the Controlling Party incurs out-

  
 22 

 
of-pocket costs and expenses to be shared under this Section 10.02(e) during a fiscal quarter, such Controlling Party shall
provide notice to the Non-Controlling Party within thirty (30) days after the end of such fiscal quarter for the amount due from such Non-Controlling Party pursuant
to this Section 10.02(e), describing in reasonable detail the particulars relating thereto. Such Non-Controlling Party shall have a period of thirty (30) days after the receipt
of notice to respond thereto. Unless the Non-Controlling Party disputes the amount it is liable for under this Section 10.02(e), the
Non-Controlling Party shall reimburse the Controlling Party within forty-five (45) Business Days of delivery by the Controlling Party of the notice described above. To the extent the Non-Controlling Party does not agree with the amount the Controlling Party claims the Non-Controlling Party is liable for under this
Section 10.02(e), the dispute shall be resolved in accordance with Section 14. During the first month of each fiscal quarter in which it expects to incur costs for which reimbursement may be sought
under this Section 10.02(e), the Controlling Party will provide the Non-Controlling Party with a good faith estimate of such costs. 

Section 11. Effective Date. This Agreement shall be effective as of the date hereof. 

Section 12. Survival of Obligations. The representations, warranties, covenants, and agreements set forth in
this Agreement shall be unconditional and absolute and shall remain in effect without limitation as to time. 

Section 13. Treatment of Payments; Tax Gross Up. 

Section 13.01 Treatment of Tax Indemnity and Tax Benefit Payments. To the extent permitted by applicable Tax
Law, unless otherwise required by a Final Determination or this Agreement or otherwise agreed among the Parties, for U.S. federal Tax purposes, any Tax indemnity payment or Tax Benefit payment made pursuant to this Agreement shall be treated as
follows: 
 (a) to the extent the member or assets of the payor Group and the member or assets of the payee Group to which the
liability for payment relates were separated in a tax-free distribution for U.S. federal Tax purposes, such payment shall be treated as a tax-free contribution or tax-free distribution, as applicable, with respect to the stock of the applicable member of the payee Group or payor Group, as applicable, occurring immediately prior to the relevant Separation Transaction or the
Contribution, as applicable; and 
 (b) to the extent the member or assets of the payor Group and the member or assets of the payee
Group to which the liability for payment relates were separated in a taxable transaction for U.S. federal Tax purposes, such payment shall be treated as an adjustment to the price or amount, as applicable, of the relevant Separation Transaction or
the Contribution, as applicable. 
 Payments of interest shall be treated as deductible by the payor Party or its relevant Subsidiary and as
income to the payee Party or its relevant Subsidiary, as permitted and applicable. In the case of each of the foregoing, no Party shall take any position inconsistent with such treatment. In the event that a Taxing Authority asserts that a
Party’s treatment of a payment pursuant to this Agreement should be other than as set forth in this Section 13.01, such Party shall use its commercially reasonable efforts to contest such challenge. 

  
 23 

 Section 13.02 Tax Gross Up. If notwithstanding the manner
in which Tax indemnity payments and Tax Benefit payments were reported, there is an adjustment to the Tax liability of a Party or another member of its Group as a result of the receipt of a payment pursuant to this Agreement, such payment shall be
appropriately adjusted so that the amount of such payment, reduced by all income Taxes payable with respect to the receipt thereof (but taking into account all correlative Tax Benefits resulting from the payment of such income Taxes), shall equal
the amount of the payment which the Party entitled to such payment would otherwise be entitled to receive pursuant to this Agreement. The Party entitled to a payment under this Agreement shall take all reasonable efforts to avoid or reduce any
income Taxes on such receipt. 
 Section 14. Disagreements. 

Section 14.01 Discussion. The Parties mutually desire that friendly collaboration will continue between them.
Accordingly, they will try, and they will cause their respective Group members to try, to resolve in an amicable manner all disagreements and misunderstandings connected with their respective rights and obligations under this Agreement, including
any amendments hereto. In furtherance thereof, in the event of any dispute or disagreement between any member of the IP RemainCo Group and any member of the Product SpinCo Group as to the interpretation of any provision of this Agreement or the
performance of obligations hereunder (a “Dispute”), the Tax departments of the Parties shall negotiate in good faith to resolve the Dispute. 

Section 14.02 Escalation. If such good faith negotiations do not resolve the Dispute, then the matter, upon
written request of either Party, will be referred for resolution pursuant to the procedures set forth in Section 9.1(b) of the Separation Agreement. Except as expressly provided herein, Disputes hereunder shall not be subject to the dispute
resolution procedures set forth in the Separation Agreement. 
 Section 14.03 Referral to Tax Advisor. If
the Parties are not able to resolve the Dispute through the escalation process referred to above, then the matter will be referred to a Tax Advisor acceptable to each of the Parties to act as an arbitrator in order to resolve the Dispute. In the
event that the Parties are unable to agree upon a Tax Advisor within fifteen (15) Business Days following the completion of the escalation process, the Parties shall each separately retain an independent, nationally recognized law or accounting
firm (each, a “Preliminary Tax Advisor”), which Preliminary Tax Advisors shall jointly select a Tax Advisor on behalf of the Parties to act as an arbitrator in order to resolve the Dispute. The Tax Advisor may, in its discretion,
obtain the services of any third-party appraiser, accounting firm or consultant that the Tax Advisor deems necessary to assist it in resolving such disagreement. The Tax Advisor shall furnish written notice to the Parties of its resolution of any
such Dispute as soon as practical, but in any event no later than thirty (30) Business Days after its acceptance of the matter for resolution. Any such resolution by the Tax Advisor will be conclusive and binding on the Parties. Following
receipt of the Tax Advisor’s written notice to the Parties of its resolution of the Dispute, the Parties shall each take or cause to be taken any action necessary to implement such resolution of the Tax Advisor. Each Party shall pay its own
fees and expenses (including the fees and expenses of its representatives) incurred in connection with the referral of the matter to the Tax Advisor (and the Preliminary Tax Advisors, if any). All fees and expenses of the Tax Advisor (and the
Preliminary Tax Advisors, if any) in connection with such referral shall be shared equally by the Parties.  

  
 24 

 Section 14.04 Injunctive Relief. Nothing in this
Section 14 will prevent either Party from seeking injunctive relief if any delay resulting from the efforts to resolve the Dispute through the process set forth above could result in serious and irreparable injury to either
Party. Notwithstanding anything to the contrary in this Agreement, IP RemainCo and Product SpinCo are the only members of their respective Group entitled to commence a dispute resolution procedure under this Agreement, and each of IP RemainCo and
Product SpinCo will cause its respective Group members not to commence any dispute resolution procedure other than through such Party as provided in this Section 14. 

Section 15. Expenses. Except as otherwise provided in this Agreement, each Party and its Affiliates shall
bear their own expenses incurred in connection with preparation of Tax Returns, Tax Contests, and other matters related to Taxes under the provisions of this Agreement. 

Section 16. General Provisions. 

Section 16.01 Complete Agreement; Construction. Except as otherwise expressly noted herein with respect to
the Employee Matters Agreement and the Separation Agreement, this Agreement shall constitute the entire agreement among the Parties with respect to Taxes and Tax Returns of the Parties and their respective Subsidiaries and shall supersede all
previous negotiations, commitments, course of dealings, and writings with respect to such subject matter. In the event and to the extent of any conflict between this Agreement, on the one hand, and the Separation Agreement or any Ancillary
Agreements relating to the transactions contemplated by the Separation Agreement, on the other hand, with respect to Taxes and Tax Returns of the Parties and their respective Subsidiaries, the terms and conditions of this Agreement shall govern.

 Section 16.02 Other Agreements. Except as expressly set forth herein (including, for the avoidance of
doubt, as provided in Section 16.01), this Agreement is not intended to address, and should not be interpreted to address, the matters specifically and expressly covered by the Separation Agreement and the other Ancillary
Agreements. 
 Section 16.03 Counterparts. This Agreement may be executed and delivered (including by
facsimile or other means of electronic transmission, such as by electronic mail in “pdf” form) in more than one counterpart, all of which shall be considered one and the same agreement, each of which when executed shall be deemed to be an
original, and shall become effective when one or more such counterparts have been signed by each of the Parties and delivered to each of the Parties. 

Section 16.04 Survival of Agreement. Except as otherwise contemplated by this Agreement, all covenants and
agreements of the Parties contained in this Agreement shall survive the Effective Time and remain in full force and effect in accordance with their applicable terms. 

Section 16.05 Notices. All notices and other communications to be given to either Party under this Agreement
shall be sufficiently given for all purposes hereunder if in writing and delivered by hand, courier or overnight delivery service, or five (5) days after being mailed by certified or registered mail, return receipt requested, with appropriate
postage prepaid, or electronically mailed (with a response confirming receipt), and shall be directed to the address set forth below (or at such other address for a Party as shall be specified in a notice given in accordance with this
Section 16.05): 

  
 25 

 To IP RemainCo: 

Adeia Inc. 
 3025 Orchard
Parkway 
 San Jose, California 95134 

Attention:                 [•] 

Email:                      
[•] 
 with a copy (which shall not constitute notice) to: 

Skadden, Arps, Slate, Meagher & Flom LLP 

525 University Avenue 
 Palo
Alto, California 94301 
 Attention:
                    Mike Ringler 

Email:
                         Mike.Ringler@skadden.com 

Skadden, Arps, Slate, Meagher & Flom LLP 

525 University Avenue 
 Palo
Alto, California 94301 
 Attention:
                    Nathan Giesselman 

Email:
                         Nathan.Giesselman@skadden.com 

To Product SpinCo: 
 Xperi Inc.

 2190 Gold Street 
 San
Jose, California 95002 
 Attention:                
[•] 

Email:                      [•]

 with a copy (which shall not constitute notice) to: 

Skadden, Arps, Slate, Meagher & Flom LLP 

525 University Avenue 
 Palo
Alto, California 94301 
 Attention:
                    Mike Ringler 

Email:
                         Mike.Ringler@skadden.com 

Skadden, Arps, Slate, Meagher & Flom LLP 

525 University Avenue 
 Palo
Alto, California 94301 
 Attention:
                    Nathan Giesselman 

Email:
                         Nathan.Giesselman@skadden.com 

  
 26 

 Section 16.06 Waivers. Any provision of this Agreement may
be waived if and only if such waiver is in writing and signed by the Party against whom the waiver is to be effective. Notwithstanding the foregoing, no failure to exercise and no delay in exercising, on the part of either Party, any right, remedy,
power or privilege hereunder shall operate as a waiver hereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder or preclude any other or further exercise thereof or the exercise of any other right, remedy,
power or privilege. Any consent required or permitted to be given by either Party to the other Party under this Agreement shall be in writing and signed by the Party giving such consent and shall be effective only against such Party (and the members
of its Group). 
 Section 16.07 Amendments. This Agreement may not be modified or amended except by an
agreement in writing signed by each of the Parties. 
 Section 16.08 Assignment. Except as otherwise
provided for in this Agreement, neither this Agreement nor any right, interest, or obligation shall be assignable, in whole or in part, directly or indirectly, by either Party without the prior written consent of the other Party (not to be
unreasonably withheld, conditioned, or delayed), and any attempt to assign any rights, interests, or obligations arising under this Agreement without such consent shall be void; except, that a Party may assign this Agreement or any or all of the
rights, interests, and obligations hereunder in connection with a merger, reorganization, or consolidation transaction in which such Party is a constituent party but not the surviving entity or the sale by such Party of all or substantially all of
its Assets; provided, that the surviving entity of such merger, reorganization, or consolidation transaction or the transferee of such Assets shall assume all the obligations of the relevant Party by operation of law or pursuant to an
agreement in writing, reasonably satisfactory to the other Party, to be bound by the terms of this Agreement as if named as a “Party” hereto; provided, however, that in the case of each of the preceding clauses, no
assignment permitted by this Section 16.08 shall release the assigning Party from Liability for the full performance of its obligations under this Agreement, unless agreed to in writing by the
non-assigning Parties. 
 Section 16.09 Successors and Assigns. The
provisions of this Agreement and the obligations and rights hereunder shall be binding upon, inure to the benefit of, and be enforceable by (and against) the Parties and their respective successors and permitted transferees and assigns. 

Section 16.10 Payment Terms. 

(a) Except as set forth in Section 4 or as otherwise expressly provided to the contrary in this Agreement,
any amount to be paid or reimbursed by a Party (and/or a member of such Party’s Group), on the one hand, to the other Party (and/or a member of such Party’s respective Group), on the other hand, under this Agreement shall be paid or
reimbursed hereunder within forty-five (45) days after presentation of an invoice or a written demand therefor and setting forth, or accompanied by, reasonable documentation or other reasonable explanation supporting such amount. 

  
 27 

 (b) Except as set forth in Section 4 or as otherwise
expressly provided to the contrary in this Agreement, any amount not paid when due pursuant to this Agreement (and any amount billed or otherwise invoiced or demanded and properly payable that is not paid within forty-five (45) days of such
bill, invoice or other demand) shall bear interest at a rate per annum equal to the Mid-Term Applicable Federal Rate (in effect on the date on which such payment was due) plus 1.5% calculated for the actual
number of days elapsed, accrued from the date on which such payment was due up to the date of the actual receipt of payment. 
 (c)
In the event of a dispute or disagreement with respect to all or a portion of any amounts requested by either Party (and/or a member of such Party’s Group) as being payable, the payor Party shall in no event be entitled to withhold payments for
any such amounts (and any such disputed amounts shall be paid in accordance with Section 16.10(a), subject to the right of the payor Party to dispute such amount following such payment); provided, that in the event
that following the resolution of such dispute it is determined that the payee Party (and/or a member of the payee Party’s Group) was not entitled to all or a portion of the payment made by the payor Party, the payee Party shall repay (or cause
to be repaid) such amounts to which it was not entitled, including interest, to the payor Party (or its designee), which amounts shall bear interest at a rate per annum equal to the Mid-Term Applicable Federal
Rate (in effect on the date on which such payment was due) plus 1.5%, calculated for the actual number of days elapsed, accrued from the date on which such payment was made by the payor Party to the payee Party. 

(d) Without the consent of the Party receiving any payment under this Agreement specifying otherwise, all payments to be made by IP
RemainCo or Product SpinCo under this Agreement shall be made in U.S. dollars. Except as expressly provided herein, any amount which is not expressed in U.S. dollars shall be converted into U.S. dollars by using the Bloomberg fixing rate at 5:00
p.m. New York City Time on the day before the date the payment is required to be made or, as applicable, on which an invoice is submitted (provided, however, that with regard to any payment hereunder made by a Party to indemnify the
other Party for a payment or payments made by such other Party to third parties, the date shall be the day before the relevant payment was made to the third party) or in the Wall Street Journal on such date if not so published on Bloomberg. Except
as expressly provided herein, in the event that any indemnification payment required to be made hereunder may be denominated in a currency other than U.S. dollars, the amount of such payment shall be converted into U.S. dollars on the date on which
notice of the claim is given to the Party obligated to make such payment. 
 Section 16.11 No
Circumvention. The Parties agree not to directly or indirectly take any actions, act in concert with any Person who takes an action, or cause or allow any member of any such Party’s Group to take any actions (including the failure to take a
reasonable action) such that the resulting effect is to materially undermine the effectiveness of any of the provisions of this Agreement (including adversely affecting the rights or ability of either Party to successfully pursue indemnification or
payment pursuant to Section 4). 
 Section 16.12 Subsidiaries. Each of the
Parties shall cause to be performed, and hereby guarantees the performance of, all actions, agreements, and obligations set forth herein to be performed by any Subsidiary of such Party or by any entity that becomes a Subsidiary of such Party on and
after the Distribution Date. 

  
 28 

 Section 16.13 Third Party Beneficiaries. Except as
specifically provided in the Separation Agreement or any Ancillary Agreement, this Agreement is solely for the benefit of, and is only enforceable by, the Parties and their permitted successors and assigns and should not be deemed to confer upon
third parties any remedy, benefit, claim, liability, reimbursement, claim of action, or other right of any nature whatsoever, including any rights of employment for any specified period, in excess of those existing without reference to this
Agreement. 
 Section 16.14 Title and Headings. Titles and headings to sections herein are inserted for the
convenience of reference only and are not intended to be a part of or to affect the meaning or interpretation of this Agreement. 

Section 16.15 Governing Law. This Agreement and any dispute arising out of, in connection with or relating to
this Agreement shall be governed by and construed in accordance with the Laws of the State of Delaware, without giving effect to the conflicts of laws principles thereof. 

Section 16.16 Specific Performance. The Parties acknowledge and agree that irreparable harm would occur in
the event that the Parties do not perform any provision of this Agreement in accordance with its specific terms or otherwise breach this Agreement and the remedies at law for any breach or threatened breach of this Agreement, including monetary
damages, are inadequate compensation for any indemnifiable loss. Accordingly, from and after the Effective Time, in the event of any actual or threatened default in, or breach of, any of the terms, conditions and provisions of this Agreement, the
Parties agree that the Party or Parties to this Agreement who are or are to be thereby aggrieved shall, subject and pursuant to the terms of this Section 16 (including for the avoidance of doubt, after compliance with all
notice and negotiation provisions herein), have the right to specific performance and injunctive or other equitable relief of its or their rights under this Agreement, in addition to any and all other rights and remedies at law or in equity, and all
such rights and remedies shall be cumulative. The Parties agree that any defense in any action for specific performance that a remedy at law would be adequate is hereby waived, and that any requirements for the securing or posting of any bond with
such remedy are hereby waived. 
 Section 16.17 Severability. In the event any one or more of the
provisions contained in this Agreement should be held invalid, illegal, or unenforceable in any respect, the validity, legality, and enforceability of the remaining provisions contained herein and therein shall not in any way be affected or impaired
thereby. The Parties shall endeavor in good-faith negotiations to replace the invalid, illegal, or unenforceable provisions with valid, legal, and enforceable provisions, the economic effect of which comes as close as possible to that of the
invalid, illegal, or unenforceable provisions. 
 Section 16.18 No Duplication; No Double Recovery. Nothing
in this Agreement is intended to confer to or impose upon either Party a duplicative right, entitlement, obligation, or recovery with respect to any matter arising out of the same facts and circumstances (including with respect to the rights,
entitlements, obligations, and recoveries that may arise out of Section 4). 

  
 29 

 Section 16.19 Further Action. The Parties shall execute and
deliver all documents, provide all information, and take or refrain from taking action as may be necessary or appropriate to achieve the purposes of this Agreement, including the execution and delivery to the other Parties and their Affiliates and
representatives of such powers of attorney or other authorizing documentation as is reasonably necessary or appropriate in connection with Tax Contests (or portions thereof) under the control of such other Parties in accordance with Section 10.

 [Signature page follows] 

  
 30 

 IN WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed as of the day
and year first above written. 
  

					
	ADEIA INC.
		
	By	 	 /s/ Keith Jones

		 	Name:	 	Keith Jones
		 	Title:	 	Chief Financial Officer
	
	XPERI INC.
		
	By	 	 /s/ Robert Andersen

		 	Name:	 	Robert Andersen
		 	Title:	 	Chief Financial Officer

 [Signature Page to the Tax Matters Agreement]EX-10.2

 Exhibit 10.2 

EMPLOYEE MATTERS AGREEMENT 

by and among 
 ADEIA
INC. 
 and 

XPERI INC. 
 dated as of

 October 1, 2022 

 TABLE OF CONTENTS 
  

							
		 		  	 	Page	 
	ARTICLE I	  

	
	DEFINITIONS AND INTERPRETATION	  

			
	 Section 1.1
	 	General	  	 	1	 
	 Section 1.2
	 	References; Interpretation	  	 	7	 
	
	ARTICLE II	  

	
	GENERAL PRINCIPLES	  

			
	 Section 2.1
	 	Nature of Liabilities	  	 	7	 
	 Section 2.2
	 	Transfers of Employees Generally	  	 	7	 
	 Section 2.3
	 	Assumption and Retention of Liabilities Generally	  	 	8	 
	 Section 2.4
	 	Service Recognition	  	 	8	 
	 Section 2.5
	 	Information and Consultation	  	 	9	 
	 Section 2.6
	 	WARN	  	 	9	 
	
	ARTICLE III	  

	
	CERTAIN BENEFIT PLAN PROVISIONS	  

			
	 Section 3.1
	 	Benefits Generally	  	 	10	 
	 Section 3.2
	 	Health and Welfare Benefit Plans	  	 	10	 
	 Section 3.3
	 	Savings Plans	  	 	10	 
	 Section 3.4
	 	Flexible Spending Account Plan	  	 	10	 
	
	ARTICLE IV	  

	
	EQUITY INCENTIVE AWARDS	  

			
	 Section 4.1
	 	Treatment of Options	  	 	11	 
	 Section 4.2
	 	Treatment of Restricted Stock Units	  	 	12	 
	 Section 4.3
	 	Treatment of Performance Stock Unit Awards	  	 	12	 
	 Section 4.4
	 	Treatment of Key RSU Awards	  	 	14	 
	 Section 4.5
	 	SpinCo Stock Plan	  	 	14	 
	 Section 4.6
	 	General Terms	  	 	14	 
	 Section 4.7
	 	Employee Stock Purchase Plan	  	 	16	 

  
 i 

							
	ARTICLE V	  

	
	ADDITIONAL MATTERS	  

			
	 Section 5.1
	 	Intellectual Property Incentive Plan	  	 	16	 
	 Section 5.2
	 	Annual Bonus Programs	  	 	17	 
	 Section 5.3
	 	Time-Off Benefits	  	 	17	 
	 Section 5.4
	 	COBRA Compliance	  	 	17	 
	 Section 5.5
	 	Code Section 409A	  	 	18	 
	 Section 5.6
	 	Payroll Taxes and Reporting	  	 	18	 
	 Section 5.7
	 	Regulatory Filings	  	 	18	 
	 Section 5.8
	 	Disability	  	 	18	 
	
	ARTICLE VI s	  

	
	GENERAL AND ADMINISTRATIVE	  

			
	 Section 6.1
	 	Employer Rights	  	 	19	 
	 Section 6.2
	 	Effect on Employment	  	 	19	 
	 Section 6.3
	 	Consent of Third Parties	  	 	19	 
	 Section 6.4
	 	Access to Employees	  	 	19	 
	 Section 6.5
	 	Employee Data Protection and the Data Sharing Agreement	  	 	19	 
	 Section 6.6
	 	Beneficiary Designation/Release of Information/Right to Reimbursement	  	 	19	 
	 Section 6.7
	 	No Third-Party Beneficiaries	  	 	20	 
	 Section 6.8
	 	No Acceleration of Benefits	  	 	20	 
	 Section 6.9
	 	Employee Benefits Administration	  	 	20	 
	
	ARTICLE VII	  

	
	MISCELLANEOUS	  

			
	 Section 7.1
	 	Amendments and Waivers	  	 	20	 
	 Section 7.2
	 	Entire Agreement	  	 	21	 
	 Section 7.3
	 	Survival of Agreements	  	 	21	 
	 Section 7.4
	 	Third-Party Beneficiaries	  	 	21	 
	 Section 7.5
	 	Notices	  	 	21	 
	 Section 7.6
	 	Counterparts; Electronic Delivery	  	 	21	 
	 Section 7.7
	 	Severability	  	 	22	 
	 Section 7.8
	 	Assignability; Binding Effect	  	 	22	 
	 Section 7.9
	 	Termination; Effect of Termination	  	 	22	 
	 Section 7.10
	 	Governing Law	  	 	22	 
	 Section 7.11
	 	Construction	  	 	22	 
	 Section 7.12
	 	Performance	  	 	23	 
	 Section 7.13
	 	Title and Headings	  	 	23	 
	 Section 7.14
	 	Schedules	  	 	23	 

  
 ii 

 EMPLOYEE MATTERS AGREEMENT 

This EMPLOYEE MATTERS AGREEMENT (this “Agreement”), is entered into as of October 1, 2022, by and among Adeia Inc., a
Delaware corporation (“RemainCo”) and Xperi Inc., a Delaware corporation and a subsidiary of RemainCo (“SpinCo”). RemainCo and SpinCo are sometimes referred to herein individually as a “Party,” and
collectively as the “Parties”. Capitalized terms used in this Agreement, but not otherwise defined in this Agreement, shall have the meaning given to such terms in the Separation and Distribution Agreement by and between the
Parties, dated as of October 1, 2022 (the “Separation Agreement”). 
 W I T N E
S E T H: 
 WHEREAS, the RemainCo Board has determined that it is advisable and in the best interests of
RemainCo and its stockholders to restructure the Assets and Liabilities of RemainCo into two companies: (i) RemainCo, which, following consummation of the transactions contemplated under the Separation Agreement, will own and conduct the
RemainCo Business; and (ii) SpinCo, which, following consummation of the transactions contemplated under the Separation Agreement, will own and conduct the SpinCo Business, in the manner contemplated by the Separation Agreement; 

WHEREAS, the Separation Agreement sets forth the terms and conditions applicable to the Distribution; and 

WHEREAS, pursuant to the Separation Agreement, RemainCo and SpinCo have agreed to enter into this Agreement for the purpose of allocating
Assets, Liabilities and responsibilities with respect to certain employee matters and employee compensation and benefit plans and programs between them and to address certain other employment-related matters. 

NOW, THEREFORE, in consideration of the foregoing and the mutual agreements, provisions and covenants contained in this Agreement, the Parties
hereby agree as follows: 
 ARTICLE I 

DEFINITIONS AND INTERPRETATION 

Section 1.1 General. As used in this Agreement, the following terms shall have the following meanings: 

“Adjusted SpinCo Stock Value” shall mean the product obtained by multiplying (a) the SpinCo Stock Value by
(b) the Distribution Ratio. 
 “Affiliate” means, with respect to any specified Person, any other Person that
directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with, the specified Person. 

“Agreement” shall have the meaning set forth in the Preamble. 

 “Applicable Exchange” shall mean the securities exchange as may at the
applicable time be the principal market for shares of RemainCo Common Stock or shares of SpinCo Common Stock, as applicable. 

“Benefit Arrangement” shall mean, with respect to an entity, each compensation or employee benefit plan, program, policy,
agreement or other arrangement, whether or not “employee benefit plans” (within the meaning of Section 3(3) of ERISA, whether or not subject to ERISA), including any benefit plan, program, policy, agreement or arrangement providing
cash- or equity-based compensation or incentives, health, medical, dental, vision, disability, accident or life insurance benefits or vacation, paid or unpaid leave, severance, retention, change in control, termination, deferred compensation,
individual employment, retirement, pension or savings benefits, supplemental income, retiree benefit or other fringe benefit (whether or not taxable), or employee loans, that are sponsored or maintained by such entity (or to which such entity
contributes or is required to contribute or in which it participates), and excluding workers’ compensation plans, policies, programs and arrangements. 

“Code” means the Internal Revenue Code of 1986, as amended from time to time, or any successor federal income tax law, and
the regulations promulgated thereunder. 
 “Data Sharing Agreement” shall mean the Data Sharing Agreement by and between
Adeia Inc. and Xperi Inc., dated October 1, 2022. 
 “Distribution Ratio” shall mean the number of shares of Product
SpinCo Common Stock (as defined in the Separation Agreement) received by each holder of IP RemainCo Common Stock (as defined in the Separation Agreement) on the Distribution Record Date pursuant to Section 4.1 the Separation Agreement with
respect to each share of IP RemainCo Common Stock. 
 “Employee” shall mean any RemainCo Employee or SpinCo Employee. 

“ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended. 

“IPIP” shall mean the Xperi Holding Corporation Intellectual Property Incentive Plan. 

“Party” and “Parties” shall have the meanings set forth in the Preamble. 

“Person” means an individual, a partnership, a corporation, an association, a joint stock company, a trust, a joint venture,
a limited liability company, a union, an unincorporated organization or other legal entity, including a governmental entity or any department, agency or political subdivision thereof. 

“Plan Transition Date” shall mean the date that is (i) the Distribution Date or (ii) such earlier date as agreed
between the Parties. 
 “Post-Separation RemainCo Awards” shall mean Post-Separation RemainCo Options, Post-Separation
RemainCo Restricted Stock Unit Awards, Post-Separation RemainCo Performance Stock Unit Awards (2020), Post-Separation RemainCo Performance Stock Unit Awards (2021), Post-Separation RemainCo Performance Stock Unit Awards (2022) and
Post-Separation RemainCo Key RSU Awards, collectively. 

  
 2 

 “Post-Separation RemainCo Key RSU Award” shall mean a RemainCo Key RSU
Award adjusted as of the Effective Time in accordance with Section 4.4. 
 “Post-Separation RemainCo Option” shall
mean a RemainCo Option adjusted as of the Effective Time in accordance with Section 4.1. 
 “Post-Separation RemainCo
Performance Stock Unit Award (2020)” shall mean a RemainCo Performance Restricted Stock Unit Award (2020) adjusted as of the Effective Time in accordance with Section 4.3(a). 

“Post-Separation RemainCo Performance Stock Unit Award (2021)” shall mean a RemainCo Performance Restricted Stock Unit Award
(2021) adjusted as of the Effective Time in accordance with Section 4.3(b). 
 “Post-Separation RemainCo Performance Stock
Unit Award (2022)” shall mean a RemainCo Performance Restricted Stock Unit Award (2022) adjusted as of the Effective Time in accordance with Section 4.3(c). 

“Post-Separation RemainCo Restricted Stock Unit Award” shall mean a RemainCo Restricted Stock Unit Award adjusted as of the
Effective Time in accordance with Section 4.2. 
 “Post-Separation RemainCo Stock Value” shall mean the simple average
of the volume-weighted average per-share price of RemainCo Common Stock (i) trading “ex distribution” on the Applicable Exchange during each of the last five (5) full Trading Sessions
immediately prior to the Effective Time (or such shorter number of Trading Sessions that the RemainCo Common Stock is trading “ex distribution,” immediately prior to the Effective Time), excluding the date upon which the Effective Time
occurs and (ii) trading on the Applicable Exchange during each of the first five (5) full Trading Sessions immediately after the Effective Time, including the date upon which the Effective Time occurs. 

“Pre-Separation RemainCo Stock Value” shall mean the simple average of the
volume-weighted average per-share price of RemainCo Common Stock trading “regular way with due bills” on the Applicable Exchange during each of the last ten (10) full Trading Sessions, or such
shorter number of Trading Sessions that the RemainCo Common Stock is trading “regular way with due bills,” immediately prior to the Effective Time. 

“RemainCo” shall have the meaning set forth in the Preamble. 

“RemainCo 401(k) Plan” means a tax-qualified 401(k) defined contribution savings plan
to be established by RemainCo or a member of the RemainCo Group. 
 “RemainCo Benefit Arrangement” shall mean any
Benefit Arrangement sponsored, maintained or contributed to by any member of the IP RemainCo Group as of immediately following the Effective Time. 

“RemainCo Change in Control” shall have the meaning set forth in Section 4.6(b). 

  
 3 

 “RemainCo Common Stock” shall mean the common stock of RemainCo, par value
$0.001 per share. 
 “RemainCo Director” shall mean any individual who is a
non-employee member of the board of directors of RemainCo as of the Effective Time. 

“RemainCo Employee” shall mean each individual identified on Schedule 1.1 hereto. 

“RemainCo ESPP” shall mean the Xperi Holding Corporation 2020 Employee Stock Purchase Plan. 

“RemainCo Key RSU Award” shall mean an award of Restricted Stock Units granted in 2022 by RemainCo pursuant to the Xperi
Holding Corporation 2020 Equity Incentive Plan that is subject to solely time-based vesting and that is identified on Schedule 4.4 and held by such individual set forth on Schedule 4.4. 

“RemainCo Option” shall mean an option to purchase shares of RemainCo Common Stock granted pursuant to a RemainCo Stock Plan.

 “RemainCo Performance Stock Unit Award (2020)” shall mean an award of Restricted Stock Units granted in 2020 by RemainCo
pursuant to the RemainCo Stock Plans that is subject to performance-based vesting. 
 “RemainCo Performance Stock Unit Award
(2021)” shall mean an award of Restricted Stock Units granted in 2021 by RemainCo pursuant to the RemainCo Stock Plans that is subject to performance-based vesting. 

“RemainCo Performance Stock Unit Award (2022)” shall mean an award of Restricted Stock Units granted in 2022 by RemainCo
pursuant to the RemainCo Stock Plans that is subject to performance-based vesting. 
 “RemainCo Ratio” shall mean
the quotient obtained by dividing (a) the Pre-Separation RemainCo Stock Value by (b) the Post-Separation RemainCo Stock Value. 

“RemainCo Restricted Stock Unit Award” shall mean an award of Restricted Stock Units granted by RemainCo pursuant to the
RemainCo Stock Plans that is subject to solely time-based vesting, other than a RemainCo Key RSU Award. 
 “RemainCo Stock
Plans” shall mean the (i) Xperi Holding Corporation 2020 Equity Incentive Plan; (ii) TiVo Corporation 2008 Equity Incentive Plan (f/k/a the Rovi Corporation 2008 Equity Incentive Plan); (iii) TiVo Inc. Amended and Restated 2008
Equity Incentive Award Plan (now named the TiVo Corporation Titan Equity Incentive Award Plan); (iv) Xperi Corporation Seventh Amended and Restated 2003 Equity Incentive Plan and Amendment No. 1; (v) DTS, Inc. 2014 New Employee Incentive Plan,
including Amendment No. 1 and Amendment No. 2 thereto; (v) DTS, Inc. 2012 Equity Incentive Plan, including Amendment No. 1 thereto; (vi) SRS Labs, Inc. 2006 Stock Incentive Plan, as amended and restated on August 9,
2012; (vii) DTS, Inc. 2003 Equity Incentive Plan, as amended on May 9, 2005, May 15, 2008, February 19, 2009, February 15, 2010, June 3, 2010 and October 8, 2010. 

  
 4 

 “RemainCo Value Factor” shall mean the quotient obtained by dividing
(a) the Pre-Separation RemainCo Stock Value by (b) the sum of (i) the Adjusted SpinCo Stock Value and (ii) the Post-Separation RemainCo Stock Value. 

“RemainCo Welfare Plans” shall mean any Welfare Plan maintained by RemainCo or any member of the IP RemainCo Group.

 “Restricted Stock Unit” shall have the meaning set forth under the RemainCo Stock Plans. 

“Separation Agreement” shall have the meaning set forth in the Preamble. 

“SpinCo” shall have the meaning set forth in the Preamble. 

“SpinCo Awards” shall mean SpinCo Options, SpinCo Restricted Stock Unit Awards, SpinCo Performance Stock Unit Awards (2020),
SpinCo Performance Stock Unit Awards (2021), and SpinCo Performance Stock Unit Awards (2022) and SpinCo Key RSU Awards, collectively. 

“SpinCo Benefit Arrangement” shall mean any Benefit Arrangement sponsored, maintained or contributed to exclusively by
any member of the Product SpinCo Group other than a SpinCo Transferred Benefit Arrangement. 
 “SpinCo Change in Control”
shall have the meaning set forth in Section 4.6(b). 
 “SpinCo Common Stock” shall mean the common stock of SpinCo,
par value $0.001 per share. 
 “SpinCo Director” shall mean any individual who is a
non-employee member of the board of directors of SpinCo as of the Effective Time. 
 “SpinCo
Employee” shall mean each individual who is an employee of RemainCo or any of its Subsidiaries or Affiliates immediately prior to the Effective Time and who is not identified on Schedule 1.1 as a RemainCo Employee. 

“SpinCo Key RSU Award” shall mean a RemainCo Key RSU Award assumed by SpinCo in accordance with Section 4.4. 

“SpinCo Option” shall mean an award of options to purchase shares of SpinCo Common Stock assumed by SpinCo in accordance with
Section 4.1. 
 “SpinCo Performance Stock Unit Award (2020)” shall mean a RemainCo Performance Stock Unit Award
assumed by SpinCo in accordance with Section 4.3(a). 
 “SpinCo Performance Stock Unit Award (2021)” shall mean a
RemainCo Performance Stock Unit Award assumed by SpinCo in accordance with Section 4.3(b). 
 “SpinCo Performance Stock Unit
Award (2022)” shall mean a RemainCo Performance Stock Unit Award assumed by SpinCo in accordance with Section 4.3(c). 

  
 5 

 “SpinCo Ratio” shall mean the quotient obtained by dividing (a) the Pre-Separation RemainCo Stock Value by (b) the SpinCo Stock Value. 
 “SpinCo Restricted
Stock Unit Award” shall mean a RemainCo Restricted Stock Unit Award assumed by SpinCo in accordance with Section 4.2. 

“SpinCo Stock Plans” shall have the meaning set forth in Section 4.5. 

“SpinCo Stock Value” shall mean the simple average of the volume-weighted average
per-share price of SpinCo Common Stock (i) trading “as when issued” on the Applicable Exchange during each of the last five (5) full Trading Sessions immediately prior to the Effective Time
(or such shorter number of Trading Sessions that the SpinCo Common Stock is trading “as when issued” immediately prior to the Effective Time), excluding the date upon which the Effective Time occurs and (ii) trading on the Applicable
Exchange during each of the first five (5) full Trading Sessions immediately after the Effective Time, including the date upon which the Effective Time occurs. 

“SpinCo Transferred Benefit Arrangement” shall have the meaning set forth in Section 3.1. 

“SpinCo Value Factor” shall mean the quotient obtained by dividing (a) the
Pre-Separation RemainCo Stock Value by (b) the sum of (i) the SpinCo Stock Value and (ii) the quotient obtained by dividing the Post-Separation RemainCo Stock Value by the Distribution Ratio.

 “SpinCo Welfare Plans” shall mean any Welfare Plan maintained by SpinCo or any member of the SpinCo Group. 

“Trading Session” shall mean the period of time during any given calendar day, commencing with the determination of the
opening price on the Applicable Exchange and ending with the determination of the closing price on the Applicable Exchange, in which trading in shares of RemainCo Common Stock or shares of SpinCo Common Stock (as applicable) is permitted on the
Applicable Exchange. 
 “Welfare Plan” shall mean, where applicable, a “welfare plan” (as defined in
Section 3(1) of ERISA and in 29 C.F.R. §2510.3-1) or a “cafeteria plan” under Section 125 of the Code, and any benefits offered thereunder, and any other plan offering health benefits
(including medical, prescription drug, dental, vision and mental health and substance use disorder), disability benefits, or life, accidental death and disability, pre-tax premium conversion benefits,
dependent care assistance programs, employee assistance programs, contribution funding toward a health savings account, flexible spending accounts, tuition reimbursement or adoption assistance programs or cashable credits. 

“Xperi 401(k) Plan” shall mean the Xperi 401(k) Retirement Plan. 

“Xperi Benefit Arrangement” shall mean any Benefit Arrangement sponsored, maintained or contributed to by RemainCo prior to
the Effective Time. 
 “Xperi Director” shall mean any individual who is a
non-employee member of the board of directors of RemainCo immediately prior to the Effective Time. 

  
 6 

 Section 1.2 References; Interpretation. References in this Agreement to any
gender include references to all genders, and references to the singular include references to the plural and vice versa. Unless the context otherwise requires, the words “include,” “includes” and “including” when used
in this Agreement shall be deemed to be followed by the phrase “without limitation.” Unless the context otherwise requires, references in this Agreement to Articles, Sections, Annexes, Exhibits and Schedules shall be deemed references to
Articles and Sections of, and Annexes, Exhibits and Schedules to, this Agreement. Unless the context otherwise requires, the words “hereof,” “hereby” and “herein” and words of similar meaning when used in this Agreement
refer to this Agreement in its entirety and not to any particular Article, Section or provision of this Agreement. The words “written request” when used in this Agreement shall include email. Unless the context requires otherwise,
references in this Agreement to “RemainCo” shall also be deemed to refer to the applicable member of the IP RemainCo Group, references to “SpinCo” shall also be deemed to refer to the applicable member of the
Product SpinCo Group and, in connection therewith, any references to actions or omissions to be taken, or refrained from being taken, as the case may be, by RemainCo or SpinCo shall be deemed to require RemainCo or SpinCo, as the case may be, to
cause the applicable members of the IP RemainCo Group or the Product SpinCo Group, respectively, to take, or refrain from taking, any such action. In the event of any inconsistency or conflict which may arise in the application or interpretation of
any of the definitions set forth in Section 1.1, for the purpose of determining what is and is not included in such definitions, any item explicitly included on a Schedule referred to in any such definition shall take priority over any
provision of the text thereof. 
 ARTICLE II 

GENERAL PRINCIPLES 

Section 2.1 Nature of Liabilities. All Liabilities assumed or retained by a member of the IP RemainCo Group under this Agreement
shall be IP Liabilities for purposes of the Separation Agreement. All Liabilities assumed or retained by a member of the Product SpinCo Group under this Agreement shall be Product Liabilities for purposes of the Separation Agreement. 

Section 2.2 Transfers of Employees Generally. 

(a) Effective as of no later than the Effective Time and except as otherwise agreed by the Parties, (i) the applicable members of the IP
RemainCo Group and the Product SpinCo Group shall have taken such actions as are necessary to ensure that each SpinCo Employee is employed by a member of the Product SpinCo Group as of immediately following the Effective Time; and (ii) the
applicable members of the IP RemainCo Group shall have taken such actions as are necessary to ensure that each individual who is intended to be a RemainCo Employee as of immediately following the Effective Time is employed by a member of the IP
RemainCo Group as of the Effective Time. 
 (b) The IP RemainCo Group and the Product SpinCo Group agree to execute, and to seek to have the
applicable RemainCo Employees and SpinCo Employees execute such documentation, if any, as may be necessary to reflect the transfer of employment described in this Section 2.2. 

  
 7 

 Section 2.3 Assumption and Retention of Liabilities Generally. 

(a) Except as pursuant to this Agreement, in connection with the Distribution, or, if applicable, from and after the Effective Time, RemainCo
shall, or shall cause one or more members of the IP RemainCo Group to, accept, assume (or, as applicable, retain) and perform, discharge and fulfill (i) all Liabilities with respect to the employment and termination of employment of all
RemainCo Employees (and related Liabilities with respect to their respective dependents and beneficiaries), including Liabilities arising under any Xperi Benefit Arrangements (including SpinCo Transferred Benefit Arrangements) and RemainCo Benefit
Arrangements, whenever incurred; and (ii) all other Liabilities or obligations expressly assigned to or assumed by a member of the IP RemainCo Group under this Agreement.

(b) Except as pursuant to this Agreement, in connection with the Distribution, or, if applicable, from and after the Effective Time, SpinCo
shall, or shall cause one or more members of the Product SpinCo Group to, accept, assume (or, as applicable, retain) and perform, discharge and fulfill (i) all Liabilities under all SpinCo Benefit Arrangements, whenever incurred; (ii) all
Liabilities with respect to the employment, or termination of employment of all SpinCo Employees and their respective dependents and beneficiaries, including under any Xperi Benefit Arrangements and SpinCo Transferred Benefit Arrangements, whenever
incurred; and (iii) other Liabilities or obligations expressly assigned to or assumed by a member of the Product SpinCo Group under this Agreement. 

(c) The Parties shall promptly reimburse one another, upon reasonable request of the Party requesting reimbursement and the presentation by
such Party of such substantiating documentation as the other Party shall reasonably request, for the cost of any obligations or Liabilities satisfied or assumed by the Party requesting reimbursement or its Affiliates that are, or that have been made
pursuant to this Agreement, the responsibility of the other Party or any of its Affiliates. 
 (d) Notwithstanding any provision of this
Agreement or the Separation Agreement to the contrary, SpinCo shall, or shall cause one or more members of the Product SpinCo Group to, accept, assume (or, as applicable, retain) and perform, discharge and fulfill all Liabilities that have been
accepted, assumed or retained under this Agreement irrespective of whether accruals for such Liabilities have been transferred to SpinCo or a member of the Product SpinCo Group or included on a combined balance sheet of the SpinCo Business or
whether any such accruals are sufficient to cover such Liabilities. 
 Section 2.4 Service Recognition. 

(a) From and after the Effective Time, SpinCo shall, and shall cause each member of the Product SpinCo Group to use commercially reasonable
efforts to, give each SpinCo Employee full credit for purposes of eligibility, vesting and determination of level of benefits under any SpinCo Benefit Arrangement for such SpinCo Employee’s prior service with any member of the IP RemainCo Group
or the Product SpinCo Group or any predecessor thereto, to the same extent such service was recognized by the applicable Xperi Benefit Arrangement; provided that, such service shall not be recognized to the extent it would result in the duplication
of benefits. 

  
 8 

 (b) From and after the Effective Time, RemainCo shall, and shall cause each member of the IP
RemainCo Group to use commercially reasonable efforts to, give each RemainCo Employee full credit for purposes of eligibility, vesting and determination of level of benefits under any RemainCo Benefit Arrangement for such RemainCo Employee’s
prior service with any member of the IP RemainCo Group or Product SpinCo Group or any predecessor thereto, to the same extent such service was recognized by the applicable Xperi Benefit Arrangement; provided that, such service shall not be
recognized to the extent it would result in the duplication of benefits. 
 (c) Except to the extent prohibited by applicable Law and to the
extent permitted under the terms of the applicable SpinCo Benefit Arrangement, as soon as administratively practicable on or after the Plan Transition Date, SpinCo shall use commercially reasonable efforts to: (i) waive or cause to be waived
all limitations as to preexisting conditions or waiting periods with respect to participation and coverage requirements applicable to each SpinCo Employee under any SpinCo Welfare Plan in which SpinCo Employees participate (or are eligible to
participate) to the same extent that such conditions and waiting periods were satisfied or waived under an analogous Xperi Benefit Arrangement, and (ii) provide or cause each SpinCo Employee to be provided with credit for any co-payments, deductibles or other out-of-pocket amounts paid pursuant to an Xperi Benefit Arrangement during the plan year in which the
SpinCo Employees become eligible to participate in the SpinCo Welfare Plans in satisfying any applicable co-payments, deductibles or other
out-of-pocket requirements under any such plans for such plan year. 

(d) Except to the extent prohibited by applicable Law and to the extent permitted under the terms of the applicable RemainCo Benefit
Arrangement, as soon as administratively practicable on or after the Plan Transition Date, RemainCo shall us commercially reasonable efforts to: (i) waive or cause to be waived all limitations as to preexisting conditions or waiting periods
with respect to participation and coverage requirements applicable to each RemainCo Employee under any RemainCo Welfare Plan in which RemainCo Employees participate (or are eligible to participate) to the same extent that such conditions and waiting
periods were satisfied or waived under an analogous Xperi Benefit Arrangement, and (ii) provide or cause each RemainCo Employee to be provided with credit for any co-payments, deductibles or other out-of-pocket amounts paid pursuant to an Xperi Benefit Arrangement during the plan year in which the RemainCo Employees become eligible to participate in the RemainCo Welfare
Plans in satisfying any applicable co-payments, deductibles or other out-of-pocket requirements under any such plans for such
plan year. 
 Section 2.5 Information and Consultation. The Parties shall comply with all requirements and obligations to
inform, consult or otherwise notify any SpinCo Employees or RemainCo Employees in relation to the transactions contemplated by this Agreement and the Separation Agreement as required by applicable Law. 

Section 2.6 WARN. Notwithstanding anything set forth in this Agreement to the contrary, none of the transactions contemplated by
or undertaken by this Agreement is intended to and shall not constitute or give rise to an “employment loss” or employment separation within the meaning of the federal Worker Adjustment and Retraining Notification (WARN) Act, or any other
federal, state or local law or legal requirement addressing mass employment separations. 

  
 9 

 ARTICLE III 

CERTAIN BENEFIT PLAN PROVISIONS 

Section 3.1 Benefits Generally. Effective as of the Plan Transition Date, the RemainCo Group shall have taken all necessary or
appropriate actions to ensure that each Xperi Benefit Arrangement that is intended to be transferred to SpinCo, as set forth on Schedule 3.1 hereto (each, a “SpinCo Transferred Benefit Arrangement”), is transferred to a
member of the SpinCo Group. 
 Section 3.2 Health and Welfare Benefit Plans. RemainCo shall or shall cause a member of the
RemainCo Group to have in effect, no later than the Business Day immediately prior to the Plan Transition Date, RemainCo Welfare Plans providing health and welfare benefits for the benefit of each RemainCo Employee. 

Section 3.3 Savings Plans. Effective no later than the Plan Transition Date, RemainCo shall take all steps necessary or
appropriate to cause (a) the Xperi 401(k) Plan, including all of the accounts, underlying Assets, and related trusts and agreements applicable thereto, and all Liabilities related thereto, to be transferred to a member of the Product SpinCo
Group; and (b) a member of the SpinCo Group to assume and adopt the Xperi 401(k) Plan, including all of the accounts, underlying Assets, and related trusts and agreements applicable thereto, and all Liabilities related thereto. RemainCo shall
or shall cause a member of the RemainCo Group to have in effect no later than the Business Day immediately prior to the Plan Transition Date the RemainCo 401(k) Plan. As soon as practicable following the Plan Transition Date (and at such mutually
agreed by RemainCo and SpinCo), SpinCo shall cause the accounts (including any outstanding loan balances) in the RemainCo 401(k) Plan attributable to RemainCo Employees and all of the Assets in the Xperi 401(k) Plan related thereto, to be
transferred to the RemainCo 401(k) Plan and RemainCo shall cause the RemainCo 401(k) Plan to accept such transfer of accounts and underlying Assets and, effective as of the date of such transfer, to assume and to fully perform, pay and discharge,
all obligations of the Xperi 401(k) Plan relating to the accounts of RemainCo Employees (to the extent the assets related to those accounts are actually transferred from the Xperi 401(k) Plan to the RemainCo 401(k) Plan). Any transfer of assets
pursuant to this Section 3.3 shall be conducted in accordance with Section 414(l) of the Code, Treasury Regulation Section 1.414(1)-1, Section 410(a)(12) of the Code, and Section 208
of ERISA. 
 Section 3.4 Flexible Spending Account Plan. Effective no later than the Distribution Date, or such other date
agreed between the Parties, RemainCo shall take all steps necessary or appropriate to cause RemainCo to have in effect a flexible spending plan providing flexible spending accounts for medical and dependent care expenses. 

  
 10 

 ARTICLE IV 

EQUITY INCENTIVE AWARDS 

Section 4.1 Treatment of Options. 

(a) Each RemainCo Option that is outstanding immediately prior to the Effective Time and held by a RemainCo Employee, former RemainCo
Employee, SpinCo Employee, former SpinCo Employee or a Xperi Director shall be converted, as of the Effective Time, into both a Post-Separation RemainCo Option and a SpinCo Option and each such award shall be subject to the same terms and conditions
(including with respect to vesting and expiration) after the Effective Time as the terms and conditions applicable to such RemainCo Option immediately prior to the Effective Time; provided, however, that certain restrictions may be imposed on such
Post-Separation RemainCo Option or SpinCo Option after the Effective Time if necessary and appropriate to comply with applicable Law; and further, provided, however, that from and after the Effective Time: 

(i) the number of shares of RemainCo Common Stock subject to such Post-Separation RemainCo Option shall be equal to the product, rounded down
to the nearest whole share, obtained by multiplying (A) the number of shares of RemainCo Common Stock subject to the corresponding RemainCo Option immediately prior to the Effective Time by (B) the RemainCo Value Factor; and 

(ii) the number of shares of SpinCo Common Stock subject to such SpinCo Option shall be equal to the product, rounded down to the nearest
whole share, obtained by multiplying (A) the number of shares of RemainCo Common Stock subject to the corresponding RemainCo Option immediately prior to the Effective Time by (B) the SpinCo Value Factor; 

(iii) the per share exercise price of such Post-Separation RemainCo Option shall be equal to the quotient, rounded up to the nearest cent,
obtained by dividing (A) the per share exercise price of the corresponding RemainCo Option immediately prior to the Effective Time by (B) the RemainCo Ratio; 

(iv) the per share exercise price of such SpinCo Option shall be equal to the quotient, rounded up to the nearest cent, obtained by dividing
(A) the per share exercise price of the corresponding RemainCo Option immediately prior to the Effective Time by (B) the SpinCo Ratio. 

(b) Notwithstanding anything to the contrary in this Section 4.1, the exercise price, the number of shares of RemainCo Common Stock
subject to each Post-Separation RemainCo Option and the number of shares of SpinCo Common Stock subject to the SpinCo Option, as applicable, and the terms and conditions of exercise of such options, shall be determined in a manner consistent with
the requirements of Section 409A of the Code; provided, that, in the case of any RemainCo Option to which Section 421 of the Code applies by reason of its qualification under Section 422 of the Code as of immediately prior to the
Effective Time, the exercise price, the number of shares of RemainCo Common Stock subject to the Post-Separation RemainCo Option and the number of shares of SpinCo Common Stock subject to the SpinCo Option, and the terms and conditions of exercise
of such options shall be determined in a manner consistent with the requirements of Section 424(a) of the Code. 

  
 11 

 Section 4.2 Treatment of Restricted Stock Units Awards. 

(a) Except as provided in Section 4.4, each RemainCo Restricted Stock Unit Award that is outstanding immediately prior to the Effective
Time and held by a RemainCo Employee, former RemainCo Employee, a SpinCo Employee, a former SpinCo Employee or a Xperi Director shall be converted, as of the Effective Time, into both a Post-Separation RemainCo Restricted Stock Unit Award and a
SpinCo Restricted Stock Unit Award and each such award shall be subject to the same terms and conditions (including with respect to vesting and expiration) after the Effective Time as the terms and conditions applicable to such RemainCo Restricted
Stock Unit Award immediately prior to the Effective Time; provided, however, that certain restrictions may be imposed on such RemainCo Restricted Stock Unit Award or SpinCo Restricted Stock Unit Award after the Effective Time if necessary and
appropriate to comply with applicable Law; and further, provided, however, that from and after the Effective Time, the number of shares of RemainCo Common Stock subject to (i) the Post-Separation RemainCo Restricted Stock Unit Award shall be
equal to the number of shares of RemainCo Common Stock subject to the corresponding RemainCo Restricted Stock Unit Award immediately prior to the Effective Time, and (ii) the SpinCo Restricted Stock Unit Award shall be equal to the product,
rounded up to the nearest whole share, obtained by multiplying (A) the number of shares of RemainCo Common Stock subject to the RemainCo Restricted Stock Unit Award immediately prior to the Effective Time by (B) the Distribution Ratio.

 Section 4.3 Treatment of Performance Stock Unit Awards. 

(a) Performance Stock Unit Awards (2020). Each RemainCo Performance Stock Unit Award (2020) that is outstanding as of immediately
prior to the Effective Time shall be converted, as of the Effective Time, into both a Post-Separation RemainCo Performance Stock Unit Award (2020) and a SpinCo Performance Stock Unit Award (2020) and each such award shall be subject to the
same terms and conditions (including with respect to vesting and expiration) after the Effective Time as were applicable to such RemainCo Performance Stock Unit Award (2020) prior to the Effective Time; provided, however, that certain
restrictions may be imposed on the Post-Separation RemainCo Performance Stock Unit Award (2020) or the SpinCo Performance Stock Unit Award (2020) after the Effective Time if necessary and appropriate to comply with applicable Law; and
further, provided, however, that from and after the Effective Time, the number of shares subject to (i) the Post-Separation RemainCo Performance Stock Unit Award (2020) shall be equal to the number of shares of RemainCo Common Stock
subject to the corresponding RemainCo Performance Stock Unit Award (2020) immediately prior to the Effective Time, and (ii) the SpinCo Performance Stock Unit Award (2020) shall be equal to the product, rounded up to the nearest whole
share, obtained by multiplying (A) the number of shares of RemainCo Common Stock subject to the RemainCo Performance Stock Unit Award (2020) immediately prior to the Effective Time by (B) the Distribution Ratio; and provided, further,
that the stock price performance measures applicable to the SpinCo Performance Stock Unit Award (2020) shall be the same as those applicable to the RemainCo Performance Stock Unit Award (2020) and for purposes of measuring the highest 30-day average stock price in the last six months of the three-year performance period and the stock price for purposes of the relative TSR modifier, the stock prices of RemainCo and SpinCo shall be aggregated, and
the RemainCo Board or the SpinCo Board (or the respective compensation committee or other applicable committee thereof), as applicable, shall otherwise adjust the performance measures applicable to any RemainCo Performance Stock Unit Award
(2020) or SpinCo Performance Stock Unit Award (2020). 
 (b) Performance Stock Unit Awards (2021). Each RemainCo Performance
Stock Unit Award (2021) that is outstanding as of immediately prior to the Effective 

  
 12 

 
Time shall be converted, as of the Effective Time, into both a Post-Separation RemainCo Performance Stock Unit Award (2021) and a SpinCo Performance Stock Unit Award (2021) and each
such award shall be subject to the same terms and conditions (including with respect to vesting) after the Effective Time as were applicable to such RemainCo Performance Stock Unit Award (2021) prior to the Effective Time; provided, however,
that certain restrictions may be imposed on the Post-Separation RemainCo Performance Stock Unit Award (2021) or the SpinCo Performance Stock Unit Award (2021) after the Effective Time if necessary and appropriate to comply with applicable
Law; and, further provided, however, that from and after the Effective Time the number of shares subject to (i) the Post-Separation RemainCo Performance Stock Unit Award (2021) shall be equal to the number of shares of RemainCo Common
Stock subject to the corresponding RemainCo Performance Stock Unit Award (2021) immediately prior to the Effective Time, and (ii) the SpinCo Performance Stock Unit Award (2021) shall be equal to the product, rounded up to the nearest
whole share, obtained by multiplying (A) the number of shares of RemainCo Common Stock subject to the RemainCo Performance Stock Unit Award (2021) immediately prior to the Effective Time by (B) the Distribution Ratio; and provided,
further, that the stock price performance measures applicable to the SpinCo Performance Stock Unit Award (2021) shall be the same as those applicable to the RemainCo Performance Stock Unit Award (2021) and for purposes of measuring the
highest 30-day average stock price in the last six months of the three-year performance period and the stock price for purposes of the relative TSR modifier, the stock prices of RemainCo and SpinCo shall be
aggregated, and the RemainCo Board or the SpinCo Board (or the respective compensation committee or other applicable committee thereof), as applicable, shall otherwise adjust the performance measures applicable to any RemainCo Performance Stock Unit
Award (2021) or SpinCo Performance Stock Unit Award (2021). 
 (c) Treatment of Performance Stock Unit Awards (2022).

(1) Each RemainCo Performance Stock Unit Award (2022) that is outstanding immediately prior to the Effective Time and held by a RemainCo
Employee or former RemainCo Employee shall be subject to the same terms and conditions (including with respect to vesting and expiration) after the Effective Time as the terms and conditions applicable to such RemainCo Performance Stock Unit Award
(2022) immediately prior to the Effective Time; provided, however, that certain restrictions may be imposed on such RemainCo Performance Stock Unit Award (2022) after the Effective Time if necessary and appropriate to comply with
applicable Law; and further, provided, however, that from and after the Effective Time, the number of shares of RemainCo Common Stock subject to such Post-Separation RemainCo Performance Stock Unit Award (2022), rounded up to the nearest whole
number of shares, shall be equal to the product obtained by multiplying (A) the number of shares of RemainCo Common Stock subject to the corresponding RemainCo Performance Stock Unit Award (2022) immediately prior to the Effective Time by
(B) the RemainCo Ratio; and provided, further, that the RemainCo Board (or the compensation committee or other applicable committee thereof) shall adjust the performance measures applicable to any RemainCo Performance Stock Unit Award (2022).

 (2) Each RemainCo Performance Stock Unit Award (2022) that is outstanding immediately prior to the Effective Time and held by a
SpinCo Employee or former SpinCo Employee shall be converted into a SpinCo Performance Stock Unit Award (2022) and shall otherwise be subject to the same terms and conditions (including with respect to vesting and expiration) after the
Effective Time as the terms and conditions applicable to the corresponding 

  
 13 

 
RemainCo Performance Stock Unit Award (2022) immediately prior to the Effective Time; provided, however, that certain restrictions may be imposed on the SpinCo Performance Stock Unit Award
(2022) after the Effective Time if necessary and appropriate to comply with applicable Law; and further, provided, however, that from and after the Effective Time, the number of shares of SpinCo Common Stock subject to such SpinCo Performance
Stock Unit Award (2022), rounded up to the nearest whole number of shares, shall be equal to the product obtained by multiplying (A) the number of shares of RemainCo Common Stock subject to the corresponding RemainCo Performance Stock Unit
Award (2022) immediately prior to the Effective Time by (B) the SpinCo Ratio; and provided, further, that the SpinCo Board (or the compensation committee or other applicable committee thereof) shall adjust the performance measures
applicable to any SpinCo Performance Stock Unit Award (2022). 
 Section 4.4 Treatment of Key RSU Awards(a) . 

(a) Each RemainCo Key RSU Award that is outstanding immediately prior to the Effective Time shall be subject to the same terms and conditions
(including with respect to vesting) after the Effective Time as the terms and conditions applicable to such RemainCo Key RSU Award immediately prior to the Effective Time; provided, however, that certain restrictions may be imposed on such RemainCo
Key RSU Award after the Effective Time if necessary and appropriate to comply with applicable Law; and further, provided, however, that from and after the Effective Time, the number of shares of RemainCo Common Stock subject to such Post-Separation
RemainCo Key RSU Award, rounded up to the nearest whole number of shares, shall be equal to the product obtained by multiplying (A) the number of shares of RemainCo Common Stock subject to the corresponding RemainCo Key RSU Award immediately
prior to the Effective Time by (B) the RemainCo Ratio. 
 Section 4.5 SpinCo Stock Plan. Effective as of the
Effective Time, SpinCo shall have adopted the SpinCo Corporation 2022 Equity Incentive Plan and such other plans (the “SpinCo Stock Plans”), which shall permit the grant and issuance of equity incentive awards denominated in
shares of SpinCo Common Stock as described in this Article IV. 
 Section 4.6 General Terms. 

(a) All of the adjustments described in this Article IV shall be given effect in accordance with Sections 424 and 409A of the Code, in
each case to the extent applicable. The Parties shall, prior to the Effective Time, take all actions, including obtaining appropriate resolutions of the RemainCo Board and the SpinCo Board, and providing all notices and obtaining all consents, that
are necessary or desirable to give effect to the transactions contemplated by this Article IV. 
 (b) In addition, neither the Distribution
nor any employment transfer described in Section 2.2 shall constitute a termination of employment for any Employee for purposes of any RemainCo Award, Post-Separation RemainCo Award or any SpinCo Award, as applicable. After the Effective Time,
for any award adjusted under this Article IV, any reference to a “change in control,” “change of control” or similar definition in an award agreement, employment agreement or RemainCo Stock Plan applicable to such award
(x) with respect to Post-Separation RemainCo Awards, shall be deemed to refer to a “change in control,” “change of control” or similar definition as set forth in the applicable award agreement, employment agreement or
RemainCo Stock Plan (a “RemainCo Change in Control”), and (y) with respect to SpinCo Awards, shall be deemed to refer to a “Change in Control” as defined in the SpinCo Stock Plans or applicable award agreement (a
“SpinCo Change in Control”). 

  
 14 

 (c) In the event of a RemainCo Change in Control, (i) any accelerated vesting and/or
exercisability applicable to any Post-Separation RemainCo Award held by any RemainCo Employee or former RemainCo Employee shall apply to any SpinCo Award then held by any such individual, and (ii) any Post-Separation RemainCo Award then held by
any SpinCo Employee or former SpinCo Employee shall fully vest (and, to the extent applicable, become exercisable). In the event of a SpinCo Change in Control, (i) any accelerated vesting and/or exercisability applicable to any SpinCo Award
held by any SpinCo Employee or former SpinCo Employee shall apply to any Post-Separation RemainCo Award then held by any such individual, and (ii) any SpinCo Award then held by any RemainCo Employee or former RemainCo Employee shall fully vest
(and, to the extent applicable, become exercisable). 
 (d) Except as otherwise provided in this Section 4.6(d) or Article VI, after
the Effective Time, Post-Separation RemainCo Awards shall be settled by RemainCo, and SpinCo Awards shall be settled by SpinCo. Upon the vesting, payment or settlement, as applicable, of SpinCo Awards, SpinCo shall be solely responsible for ensuring
the satisfaction of all applicable tax withholding requirements on behalf of each SpinCo Employee. Upon the vesting, payment or settlement, as applicable, of Post-Separation RemainCo Awards, RemainCo shall be solely responsible for ensuring the
satisfaction of all applicable Tax withholding requirements on behalf of each RemainCo Employee. Following the Effective Time, RemainCo shall be responsible for all income tax reporting with respect to Post-Separation RemainCo Awards held by
RemainCo Employees and SpinCo shall be responsible for all income tax reporting with respect to SpinCo Awards held by SpinCo Employees. RemainCo or SpinCo, as applicable, shall facilitate performance by the other Party of its obligations hereunder
by promptly remitting amounts or shares withheld in conjunction with a transfer of shares or cash, either (as mutually agreed by the Parties) directly to the applicable taxing authority or to the other Party for remittance to such taxing authority.
The Parties will cooperate and communicate with each other and with third-party providers to effectuate withholding and remittance of taxes, as well as required tax reporting, in a timely, efficient and appropriate manner. 

(e) Following the Effective Time, if any Post-Separation RemainCo Award shall fail to become vested, such Post-Separation RemainCo Award shall
be forfeited to RemainCo, and if any SpinCo Award shall fail to become vested, such SpinCo Award shall be forfeited to SpinCo. The Parties will cooperate, notify and communicate with each other with respect to any such forfeitures for purposes of
ensuring accurate records of outstanding awards can be maintained by each of the Parties, including, without limitation, that SpinCo will notify RemainCo promptly of any SpinCo Employee or SpinCo Director whose employment or service, as applicable,
with the SpinCo Group terminates and RemainCo will notify SpinCo promptly of any RemainCo Employee or RemainCo Director whose employment or service, as applicable, with the RemainCo Group terminates, in each case, no greater than five
(5) Business Days following any such termination.

  
 15 

 (f) The Parties shall use their commercially reasonable efforts to maintain effective
registration statements with the Securities Exchange Commission with respect to the awards described in this Article IV, to the extent any such registration statement is required by applicable Law. 

(g) The Parties hereby acknowledge that the provisions of this Article IV are intended to achieve certain tax, legal and accounting
objectives and, in the event such objectives are not achieved, the Parties agree to negotiate in good faith regarding such other actions that may be necessary or appropriate to achieve such objectives. 

Section 4.7 Employee Stock Purchase Plan. The administrator of the RemainCo ESPP shall take all actions necessary and appropriate
to (a) suspend payroll deductions and other contributions by RemainCo Employees and SpinCo Employees immediately following the Exercise Date (as defined in the RemainCo ESPP) that occurs on August 31, 2022; (b) terminate the participation
of SpinCo Employees in the RemainCo ESPP effective no later than immediately prior to the Effective Time; and (c) commence a new Offering Period (as defined in the RemainCo ESPP) and resume payroll deductions and other contributions by RemainCo
Employees on December 1, 2022 or such other date as may be determined by the administrator of the RemainCo ESPP. Effective as of or before the Distribution Date, SpinCo shall adopt an employee stock purchase plan in a form substantially similar
to the RemainCo ESPP (the “SpinCo ESPP”), and the SpinCo Employees shall be eligible to participate in the SpinCo ESPP effective no later than December 1, 2022 or such other date as may be determined by the administrator
of the SpinCo ESPP; provided, however, that SpinCo may delay implementation of the SpinCo ESPP in one or more countries to the extent necessary to complete those actions and undertakings that SpinCo, in its sole discretion, determines to be
necessary or advisable to comply with applicable Law. 
 ARTICLE V 

ADDITIONAL MATTERS 

Section 5.1 Intellectual Property Incentive Plan. If at any time following the Effective Time, a SpinCo Employee who was a
participant under the IPIP immediately prior to the Effective Time would have earned or been eligible for a bonus under Section III of the IPIP (i.e., because such employee is a named inventor on a patent application filed by, or on a patent issued
to, RemainCo at such time) had such employee remained employed by RemainCo or one of its Affiliates, then, unless otherwise agreed between RemainCo and SpinCo, RemainCo shall make a payment to SpinCo in U.S. dollars, as described below, in the
amount of such bonus; provided that SpinCo has confirmed that such employee remains an employee of SpinCo or one of its Affiliates. Such payments and confirmations of employment shall be made by RemainCo and SpinCo on a quarterly basis. SpinCo will
pay to the applicable employee (subject to any applicable tax withholdings) any such bonus received from RemainCo, with such payment to be made in a manner that is exempt from or compliant with Section 409A of the Code. Any amounts payable in
currency other than U.S. dollars under the IPIP shall be converted to (and paid in) U.S. dollars by RemainCo to SpinCo at the exchange rate reported in The Wall Street Journal on the business day immediately preceding the payment date. 

  
 16 

 Section 5.2 Annual Bonus Programs. Annual cash bonuses payable under any Xperi
Benefit Arrangement that provides for payments of annual bonuses or other annual cash incentive awards in respect of the 2022 fiscal year, in either case that relates to the IP Business with respect to RemainCo Employees or to the Product Business
with respect to SpinCo Employees (the “2022 Cash Bonuses”) shall be determined as of the Effective Time based on actual performance results and level of performance achieved in respect of the portion of 2022 fiscal year that occurs up to
the Effective Time measured against the applicable targets under the applicable Xperi Benefit Arrangement and, if and to the extent earned, the 2022 Cash Bonuses shall be paid to the eligible RemainCo Employees with respect to each Xperi Benefit
Arrangement that relates to the IP Business and to the eligible SpinCo Employees with respect to each Xperi Benefit Arrangement that relates to the Product Business at the time or times RemainCo otherwise would have paid such 2022 Cash Bonuses in
the ordinary course of business. Following the Effective Time, each of RemainCo and SpinCo shall determine appropriate performance measures to be used for the remainder of the 2022 fiscal year for eligible RemainCo Employees and SpinCo Employees,
respectively. 
 Section 5.3 Time-Off Benefits. Unless otherwise required under
applicable Law (a) SpinCo shall (i) credit each SpinCo Employee with the amount of accrued but unused vacation time, paid time-off and other time-off benefits
as such SpinCo Employee had with the RemainCo as of immediately before the Distribution Date, and (ii) permit each such SpinCo Employee to use such accrued but unused vacation time, paid time off and other
time-off benefits in the same manner and upon the same terms and conditions as the SpinCo Employee would have been so permitted under the terms and conditions of the applicable RemainCo policies in effect for
the year in which such Distribution Date occurs, up to and including full exhaustion of such transferred unused vacation time, paid-time off and other time-off benefits (if such full exhaustion would be
permitted under the applicable RemainCo policies in effect for that year in which the Distribution Date occurs); and (b) RemainCo shall (i) credit each RemainCo Employee with the amount of accrued but unused vacation time, paid time-off and other time-off benefits as such RemainCo Employee had with the RemainCo as of immediately before the Distribution Date, and (ii) permit each RemainCo
Employee to use such accrued but unused vacation time, paid time off and other time-off benefits in the same manner and upon the same terms and conditions as the RemainCo Employee would have been so permitted
under the terms and conditions of the applicable RemainCo policies in effect for the year in which the Distribution Date occurs, up to and including full exhaustion of such transferred unused vacation time, paid-time off and other time-off benefits (if such full exhaustion would be permitted under the applicable RemainCo policies in effect for that year in which the Distribution Date occurs). 

Section 5.4 COBRA Compliance. 

(a) Effective as of the Plan Transition Date, SpinCo shall assume and be responsible for administering compliance with the health care
continuation requirements of COBRA, in accordance with the provisions of (i) the SpinCo Benefit Arrangements that are SpinCo Welfare Plans, with respect to SpinCo Employees and their covered dependents who incur a COBRA qualifying event or loss
of coverage under the SpinCo Welfare Plans at any time after the Plan Transition Date, and (ii) the SpinCo Transferred Benefit Arrangements with respect to SpinCo Employees and their covered dependents who incur a COBRA qualifying event or loss
of coverage under the SpinCo Transferred Benefit Arrangements at any time prior to the Plan Transition Date. 

  
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 (b) Effective as of the Plan Transition Date, RemainCo shall assume and be responsible for
administering compliance with the health care continuation requirements of COBRA, in accordance with the provisions of the RemainCo Benefit Arrangements that are RemainCo Welfare Plans, with respect to RemainCo Employees and former RemainCo
Employees and their covered dependents who incur a COBRA qualifying event or loss of coverage (i) under the Xperi Benefit Arrangements at any time prior to the Plan Transition Date, or (ii) under the RemainCo Benefit Arrangements at any
time on or after the Plan Transition Date. 
 Section 5.5 Code Section 409A. Notwithstanding anything in this
Agreement to the contrary, the Parties shall negotiate in good faith regarding the need for any treatment different from that otherwise provided herein with respect to the payment of compensation to ensure that the treatment of such compensation
does not cause the imposition of a Tax under Section 409A of the Code. In no event, however, shall any Party be liable to another in respect of any Taxes imposed under, or any other costs or Liabilities relating to, Section 409A of the
Code. 
 Section 5.6 Payroll Taxes and Reporting. The Parties shall (a) to the extent practicable, treat SpinCo (or the
appropriate member of the SpinCo Group) and RemainCo (or the appropriate member of the RemainCo) as a “successor employer” or “predecessor,” as applicable, within the meaning of Sections 3121(a)(1) and 3306(b)(1) of the Code,
with respect to SpinCo Employees and RemainCo Employees for purposes of Taxes imposed under the United States Federal Unemployment Tax Act or the United States Federal Insurance Contributions Act; and (b) cooperate with each other to avoid, to
the extent possible, the filing of more than one IRS Form W-2 with respect to each SpinCo Employee and RemainCo Employee for the calendar year in which the Effective Time occurs. 

Section 5.7 Regulatory Filings. Subject to applicable Law, RemainCo shall retain responsibility for all employee-related
regulatory filings for reporting periods ending at or prior to the Effective Time, except for Equal Employment Opportunity Commission EEO-1 reports and affirmative action program (AAP) reports and responses to
Office of Federal Contract Compliance Programs (OFCCP) submissions, for which RemainCo shall provide data and information (to the extent permitted by applicable Laws) to SpinCo, which shall be responsible for making such filings in respect of SpinCo
Employees. 
 Section 5.8 Disability. To the extent any RemainCo Employee is, as of the Plan Transition Date, receiving payments
as part of any short-term disability program that is part of a RemainCo Welfare Plan and that will become a SpinCo Transferred Benefit Arrangement as of the Plan Transition Date, such RemainCo Employee’s rights to continued short-term
disability benefits (a) will end under any such RemainCo Welfare Plan as of the Plan Transition Date; and (b) all remaining rights will be recognized under a RemainCo Benefit Arrangement as of the Plan Transition Date, and the remainder
(if any) of such RemainCo Employee’s short-term disability benefits will be paid by a RemainCo Welfare Plan that is a RemainCo Benefit Arrangement. In the event that any RemainCo Employee described above shall have any dispute with the
short-term disability benefits they are receiving under a RemainCo Welfare Plan that is a RemainCo Benefit Arrangement, any and all appeal rights of such employees shall be realized through such RemainCo Welfare Plan (and any appeal rights such
RemainCo Employee may have under any such RemainCo Welfare Plan will be limited to benefits received and time periods occurring prior to the Plan Transition Date). 

  
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 ARTICLE VIs 

GENERAL AND ADMINISTRATIVE 

Section 6.1 Employer Rights. Nothing in this Agreement shall be deemed to be an amendment to any Xperi Benefit Arrangement,
RemainCo Benefit Arrangement or SpinCo Benefit Arrangement or to prohibit any member of the IP RemainCo Group or the Product SpinCo Group, as the case may be, from amending, modifying or terminating any Xperi Benefit Arrangement, RemainCo Benefit
Arrangement or SpinCo Benefit Arrangement at any time within its sole discretion. 
 Section 6.2 Effect on Employment. Nothing
in this Agreement is intended to or shall confer upon any employee or former employee of RemainCo, SpinCo or any of their respective Affiliates any right to continued employment, or any recall or similar rights to any such individual on layoff or
any type of approved leave. 
 Section 6.3 Consent of Third Parties. If any provision of this Agreement is dependent on the
Consent of any third party and such Consent is withheld, the Parties shall use their commercially reasonable efforts to implement the applicable provisions of this Agreement to the fullest extent practicable. If any provision of this Agreement
cannot be implemented due to the failure of such third party to consent, the Parties hereto shall negotiate in good faith to implement the provision (as applicable) in a mutually satisfactory manner. 

Section 6.4 Access to Employees. On and after the Effective Time, RemainCo and SpinCo shall, or shall cause each of their
respective Affiliates to, make available to each other those of their employees who may reasonably be needed in order to defend or prosecute any legal or administrative action (other than a legal action between RemainCo and SpinCo) to which any
employee or director of the IP RemainCo Group or the Product SpinCo Group or any RemainCo Benefit Arrangement or SpinCo Benefit Arrangement is a party and which relates to a RemainCo Benefit Arrangement or SpinCo Benefit Arrangement. The Party to
whom an employee is made available in accordance with this Section 6.4 shall pay or reimburse the other Party for all reasonable expenses which may be incurred by such employee in connection therewith, including all reasonable travel, lodging
and meal expenses, but excluding any amount for such employee’s time spent in connection herewith. 
 Section 6.5 Employee Data
Protection and the Data Sharing Agreement. The Data Sharing Agreement shall govern with respect to the maintenance, use, sharing and processing of Personal Information. 

Section 6.6 Beneficiary Designation/Release of Information/Right to Reimbursement. To the extent permitted by applicable Law and
except as otherwise provided for in this Agreement, all beneficiary designations, authorizations for the release of information and rights to reimbursement made by or relating to (a) SpinCo Employees under Xperi Benefit Arrangements

  
 19 

 
shall be transferred to and be in full force and effect under the corresponding SpinCo Benefit Arrangements or SpinCo Transferred Benefit Arrangements until such beneficiary designations,
authorizations or rights are replaced or revoked by, or no longer apply, to the relevant SpinCo Employee; and (b) RemainCo Employees under Xperi Benefit Arrangements shall be transferred to and be in full force and effect under the
corresponding RemainCo Benefit Arrangements until such beneficiary designations, authorizations or rights are replaced or revoked by, or no longer apply, to the relevant RemainCo Employee. 

Section 6.7 No Third-Party Beneficiaries. This Agreement is solely for the benefit of the Parties and, except to the extent
otherwise expressly provided herein, nothing in this Agreement, express or implied, is intended to confer any rights, benefits, remedies, obligations or Liabilities under this Agreement upon any Person, including any RemainCo Employee, SpinCo
Employee or other current or former employee, officer, director or contractor of the IP RemainCo Group or the Product SpinCo Group, other than the Parties and their respective successors and assigns. 

Section 6.8 No Acceleration of Benefits. Except as otherwise provided in this Agreement, no provision of this Agreement shall be
construed to create any right, or accelerate vesting or entitlement, to any compensation or benefit whatsoever on the part of any RemainCo Employee, SpinCo Employee or other former, current or future employee of the IP RemainCo Group or the Product
SpinCo Group under any Benefit Arrangement of the IP RemainCo Group or the Product SpinCo Group. 
 Section 6.9 Employee Benefits
Administration. At all times following the date hereof, the Parties will cooperate in good faith as necessary to facilitate the administration of employee benefits and the resolution of related employee benefit claims with respect to SpinCo
Employees and RemainCo Employees, as applicable, including with respect to the provision of employee level information necessary for the other Party to manage, administer, finance and file required reports with respect to such administration. 

ARTICLE VII 

MISCELLANEOUS 

Section 7.1 Amendments and Waivers. (a) This Agreement may not be amended except by an agreement in writing signed by both
Parties. 
 (b) Any term or provision of this Agreement may be waived, or the time for its performance may be extended, by the Party
entitled to the benefit thereof and any such waiver shall be validly and sufficiently given for the purposes of this Agreement if it is in writing signed by an authorized representative of such Party. No delay or failure in exercising any right,
power or remedy hereunder shall affect or operate as a waiver thereof; nor shall any single or partial exercise thereof or any abandonment or discontinuance of steps to enforce such a right, power or remedy preclude any further exercise thereof or
of any other right, power or remedy. The rights and remedies hereunder are cumulative and not exclusive of any rights or remedies that either Party would otherwise have. 

  
 20 

 Section 7.2 Entire Agreement. This Agreement, the Separation Agreement, and the
Data Sharing Agreement, including the Exhibits and Schedules referenced herein and therein and attached hereto and thereto, constitute the entire agreement and understanding between the Parties with respect to the subject matter hereof and supersede
all prior negotiations, agreements, commitments, writings, courses of dealing and understandings with respect to the subject matter hereof. 

Section 7.3 Survival of Agreements. Except as otherwise contemplated by this Agreement, all covenants and agreements of the
Parties contained in this Agreement shall survive the Effective Time and remain in full force and effect in accordance with their applicable terms. 

Section 7.4 Third-Party Beneficiaries. This Agreement is solely for the benefit of the Parties and should not be deemed to confer
upon third parties any remedy, claim, liability, reimbursement, cause of action or other right in excess of those existing without reference to this Agreement. 

Section 7.5 Notices. All notices, requests, permissions, waivers and other communications hereunder shall be in writing and shall
be deemed to have been duly given (a) five (5) Business Days following sending by registered or certified mail, postage prepaid, (b) when sent, if sent by facsimile or email of a PDF document (with confirmation of transmission) if sent
during normal business hours of the recipient, and on the next Business Day if sent after normal business hours of the recipient, (c) when delivered, if delivered personally to the intended recipient, and (d) one (1) Business Day following
sending by overnight delivery via a national courier service and, in each case, addressed to a Party at the following address for such Party (as updated from time to time by notice in writing to the other Party): 

i. If to RemainCo: 
 c/o Adeia
Inc. 
 3025 Orchard Parkway 

San Jose, CA 95134 
 Attention:
General Counsel 
 ii. If to SpinCo: 

Xperi Inc. 
 2190 Gold Street

 San Jose, CA 95002 

Attention: General Counsel 

Section 7.6 Counterparts; Electronic Delivery. This Agreement may be executed in multiple counterparts, each of which when
executed shall be deemed to be an original, but all of which together shall constitute one and the same agreement. Execution and delivery of this Agreement or any other documents pursuant to this Agreement by facsimile or other electronic means
shall be deemed to be, and shall have the same legal effect as, execution by an original signature and delivery in person. 

  
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 Section 7.7 Severability. If any term or other provision of this Agreement or
the Schedules attached hereto is determined by a nonappealable decision by a court, administrative agency or arbitrators to be invalid, illegal or incapable of being enforced by any rule of law or public policy, all other conditions and
provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the transactions is not affected in any manner materially adverse to either Party. Upon such determination that any term or
other provision is invalid, illegal or incapable of being enforced, the court, administrative agency or arbitrators shall interpret this Agreement so as to affect the original intent of the Parties as closely as possible in an acceptable manner to
the end that the transactions are fulfilled to the fullest extent possible. If any sentence in this Agreement is so broad as to be unenforceable, the provision shall be interpreted to be only as broad as is enforceable. 

Section 7.8 Assignability; Binding Effect. This Agreement shall be binding upon and inure to the benefit of the Parties and their
successors and permitted assigns; provided, however, that the rights and obligations of each Party under this Agreement shall not be assignable, in whole or in part, directly or indirectly, whether by operation of law or otherwise, by such Party
without the prior written consent of the other Party (such consent not to be unreasonably withheld, conditioned or delayed) and any attempt to assign any rights or obligations under this Agreement without such consent shall be null and void.
Notwithstanding the foregoing, either Party may assign its rights and obligations under this Agreement to any of their respective Affiliates; provided that no such assignment shall release such assigning Party from any liability or obligation under
this Agreement. 
 Section 7.9 Termination; Effect of Termination. Upon written notice, this Agreement may be terminated at any
time prior to the Effective Time by and in the sole discretion of RemainCo without the approval of SpinCo or any other party thereto. In the event of termination pursuant to this Section 7.9, neither Party shall have any Liability of any kind
to the other Party as a result of such termination. 
 Section 7.10 Governing Law. This Agreement shall be governed by, and
construed and enforced in accordance with, the substantive Laws of the State of Delaware, without regard to any conflicts of law provisions thereof that would result in the application of the Laws of any other jurisdiction. 

Section 7.11 Construction. This Agreement shall be construed as if jointly drafted by the Parties and no rule of construction or
strict interpretation shall be applied against either Party. The Parties represent that this Agreement is entered into with full consideration of any and all rights which the Parties may have. The Parties have relied upon their own knowledge and
judgment. The Parties have had access to independent legal advice, have conducted such investigations they thought appropriate, and have consulted with such other independent advisors as they deemed appropriate regarding this Agreement and their
rights and asserted rights in connection therewith. The Parties are not relying upon any representations or statements made by the other Party, or such other Party’s employees, agents, representatives or attorneys, regarding this Agreement,
except to the extent such representations are expressly set forth or incorporated in this Agreement. The Parties are not relying upon a legal duty, if one exists, on the part of the other Party (or such other Party’s employees, agents,
representatives or attorneys) to disclose any information in connection with the execution of this Agreement or their preparation, it being expressly understood that neither Party shall ever assert any failure to disclose information on the part of
the other Party as a ground for challenging this Agreement. 

  
 22 

 Section 7.12 Performance. Each Party shall cause to be performed, and hereby
guarantees the performance of, all actions, agreements and obligations set forth herein to be performed by any Subsidiary or Affiliate of such Party. 

Section 7.13 Title and Headings. Titles and headings to Sections and Articles are inserted for the convenience of reference
only and are not intended to be a part of or to affect the meaning or interpretation of this Agreement. 
 Section 7.14
Schedules. The Schedules attached hereto are incorporated herein by reference and shall be construed with and as an integral part of this Agreement to the same extent as if the same had been set forth verbatim herein. 

[Signature Page Follows] 
  

  
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 IN WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed as of the day
and year first above written. 
  

			
	ADEIA INC.
		
	By:	 	 /s/ Keith Jones

		 	Name: Keith Jones
		 	Title: Chief Financial Officer
	
	XPERI INC.
		
	By:	 	 /s/ Robert Andersen

		 	Name: Robert Andersen
		 	Title: Chief Financial Officer

 Schedule 1.1 

[omitted] 

 Schedule 3.1 

[omitted] 

 Schedule 4.4 

[omitted]

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