Document:

Offer Letter from the registrant to Jonathan J. Rubinstein

 Exhibit 10.62 
 June 10, 2009 
 Mr. Jon Rubinstein 
 c/o Palm,
Inc. 
 950 West Maude Avenue 
 Sunnyvale, California 94085

 Dear Jon: 
 On behalf of the Board of Directors of Palm, Inc.
(“Palm” or the “Company”), I am pleased to offer you the position of President and Chief Executive Officer of Palm, effective June 12, 2009 (the “Effective Date”). Following the Effective Date,
you will continue to serve as Chairman of Palm’s Board of Directors (“Board”). The terms of your appointment as President and Chief Executive Officer, and your continued service as Chairman of Palm’s Board, are set forth
below: 
 Chairman, President and Chief Executive Officer. 
 As Palm’s President and Chief Executive Officer (“CEO”), you will be the most senior officer of the Company and will render such business and professional services in the performance of your duties as are customary to
such offices and positions in a Delaware corporation and consistent with Palm’s Certificate of Incorporation and Bylaws, including general supervision, direction, and control of the business and officers of Palm, subject in every case to the
direction and control of the Board and its committees. All other executive officers and employees of Palm and its subsidiaries will report directly to you or through such personnel as you shall designate. You, in turn, shall report directly and
solely to the Board. You agree to serve without additional remuneration in an executive or director capacity for one or more direct or indirect subsidiaries of Palm as the Board may from time to time request. 
 Following the Effective Date, you will continue to serve as a member and as Chairman of Palm’s Board. As Palm’s Chairman of the Board, you will carry out the
responsibilities assigned to the Company’s Chairman in its Certificate of Incorporation, Bylaws and Corporate Governance Guidelines as they may be modified from time to time by the Board or its committees. Consistent with best practices, the
Company’s lead independent director will perform any duties you may not be able to perform as an employee Chairman, such as chairing separate meetings of the independent directors. 
 Hereafter, at each meeting of the Company’s stockholders for which your designated class stands for election and for so long as you are the Company’s President and CEO, the Board or its designee will
nominate you to serve as a member of the Board and, subject to any required shareholder approval, you shall serve as a member of the Board 

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for each period for which you are so nominated and elected. Upon the termination of your employment for any reason, and unless otherwise requested by the
Board, you will be deemed to have voluntarily resigned from the Board (and all other positions held at the Company and its affiliates) without any further action required by you or the Board. At the Board’s request, you will execute any
documents necessary to reflect your resignation. 
 Obligations. 
 As President and CEO, you shall devote your full business efforts and time to Palm and will use good faith efforts to discharge your obligations to the best of your abilities and in accordance with each of the
Company’s Certificate of Incorporation, Bylaws, Corporate Governance Guidelines, Employee Agreement (as defined below), U.S. Handbook (Employee Standards and Guidelines) and Worldwide Code of Business Conduct and Ethics. For so long as you
serve as Palm’s President and CEO, you agree not to actively engage in any other employment, occupation, or consulting activity for any direct or indirect remuneration without the prior approval of the Board (which approval will not be
unreasonably withheld); provided, however, that you may, without the approval of the Board, serve in any capacity with any civic, educational, or charitable organization, provided such service does not interfere with your obligations to the
Company. You agree not to accept a position on any other board of directors of a for-profit entity unless approved in advance by the Board. 
 You
hereby affirm that you are not now a party to any contract, understanding, agreement or policy, written or otherwise, which would be breached by your appointment as President and CEO of Palm. You further represent that you have disclosed to the
Company in writing all threatened, pending, or actual claims brought against you by any previous employer from and after June 2, 2007, that are unresolved and outstanding as of the date of this letter. 
 Compensation. 
 Salary. As of the
Effective Date, your base salary per annum will be increased from the current $600,000 to $850,000, payable periodically in accordance with the Company’s payroll policies and procedures then in effect. Your salary will be subject to annual
review for increase by the Compensation Committee of the Board, or any successor thereto (the “Committee”). Any such increase shall be made in the sole discretion of the Committee. Your annual salary of $850,000, as it may be
increased from time to time by the Committee pursuant hereto, shall be referred to hereinafter as your “Base Salary.”  

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 Annual Performance Bonus. Your target annual performance bonus will be 100% of Base Salary.
The actual amount payable to you as an annual performance bonus will be dependent upon the achievement of annual performance objectives established in the discretion of the Board or the Committee. Accordingly, depending on whether such objectives
are under- or over-achieved, the actual amount payable to you as an annual performance bonus may be less than, greater than or equal to the target specified above. Subject to your continued employment with the Company through the date on which such
bonuses are paid, any bonus payable pursuant to this paragraph shall be paid at the same time as bonuses are payable to other executive officers of the Company and in accordance with the provisions of the bonus plan generally applicable to the
Company’s executive officers as the same may be in effect from time to time. 
 Long-Term Incentive Awards. 
 Stock Options. Subject to the Board’s approval, the Committee will grant you an option to purchase 430,000 shares of
Company common stock (“Option”) at an exercise price equal to the closing price of Palm’s common stock on July 6, 2009 (the “Grant Date”) or, if the stock market is closed on that date, the closing price
of Palm’s common stock on the last trading day prior to that date. The option will be subject to the terms and conditions set forth in Palm’s standard stock option agreement and shall vest as to 1/48th of the shares subject to the Option monthly so that all of the shares subject to the Option shall be fully vested and
exercisable four (4) years from the Grant Date, subject to your continued service with the Company on the relevant vesting dates. The governing stock option agreement will provide that you shall have up to twelve (12) months following the
date you cease (for any reason) to be an Employee, Director or Consultant of the Company (as defined under the 1999 Stock Plan) within which to exercise the Option. The governing stock option agreement will further provide that if the exercise of
your Option following your termination of service with the Company would be prohibited at any time solely because the issuance of shares of Company common stock would violate the registration requirements under the Securities Act of 1933, then your
Option shall terminate on the earlier of the expiration of the term of the Option or the expiration of a period of twelve (12) months after the termination of your service during which the exercise of the Option would not be in violation of
such registration requirements. 
 Performance Shares. On the Grant Date and subject to the Board’s approval, the Committee will
grant you the right to purchase 215,000 Palm performance shares (also known as “restricted stock units”) at a purchase price of $.001 per share, subject to the terms and conditions set forth in Palm’s standard performance share
agreement. Contingent on your continued service with Palm on each vesting date, the performance shares will vest in 25% increments on each of the first four anniversaries of the Grant Date. 

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 Restricted Stock. On the Grant Date and subject to the Board’s approval, the Compensation
Committee will grant you the right to purchase 215,000 shares of restricted Company stock at a price of $.001 per share, subject to the terms and conditions set forth in Palm’s standard restricted stock agreement. Contingent on your continued
service with Palm on each vesting date, the restricted stock will vest, and the Company’s right of repurchase will lapse, in 25% increments on each of the first four anniversaries of the Grant Date. 
 Future Equity Awards. Subject to the terms of this Agreement, you shall be entitled to participate in any stock option, performance share,
performance unit or other equity based long-term incentive compensation plan, program or arrangement generally made available to executive officers of the Company, on substantially the same terms and conditions as generally apply to such other
officers, except that the size of the awards made to you shall reflect your position with the Company, the Committee’s evaluation of your performance and competitive compensation practices. The governing stock option agreement for any stock
option granted to you hereunder will provide that you shall have up to twelve (12) months following the date you cease (for any reason) to be an Employee, Director or Consultant of the Company (as defined under the 1999 Stock Plan or the
employee stock plan then in effect) within which to exercise such options. Such governing stock option agreements will further provide that if the exercise of your option following your termination of service with the Company would be prohibited at
any time solely because the issuance of shares of Company common stock would violate the registration requirements under the Securities Act of 1933, then your Option shall terminate on the earlier of the expiration of the term of the Option or the
expiration of a period of twelve (12) months after the termination of your service during which the exercise of the Option would not be in violation of such registration requirements. 
 Benefits and Expenses. 
 Employee
Benefits. During your employment, you will be eligible to participate in the employee benefit plans currently and hereafter maintained by the Company of general applicability to other executive officers of the Company, including, without
limitation, the Company’s group medical, dental, vision, disability, life insurance, flexible-spending account, 401(k) and employee stock purchase plans and vacation policies. The Company reserves the right to cancel or change the benefit plans
and programs it offers to its employees at any time. 
 Severance Benefits. In the event your employment is terminated
involuntarily without Cause (as defined in your Management Retention Agreement and Severance Agreement) or by you pursuant to a Voluntary Termination for Good Reason (as defined in your Management Retention Agreement and Severance Agreement),
whether in connection with or in the absence of a Change of Control (as defined in your 

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Management Retention Agreement), you will be entitled to severance benefits on the terms and subject to the conditions set forth, as applicable, in the
Management Retention Agreement and the Severance Agreement between you and Palm, both of which were executed by you on June 2, 2007 (hereinafter, respectively, the “Severance Agreement” and the “Management
Agreement”). The Severance Agreement is hereby amended to delete Section 4(c)(vii) in its entirety. Likewise, the Management Agreement is hereby amended to delete Section 5(f)(vii) in its entirety. In addition, any reference in
either the Severance Agreement or the Management Agreement to the term “Offer Letter” shall be deemed a reference to this letter and not to the offer letter between you and the Company dated June 1, 2007, and executed by you on
June 2, 2007. 
 Business Expenses. The Company will pay or reimburse you for reasonable travel, entertainment and other expenses
incurred by you in the furtherance of or in connection with the performance of your duties hereunder in accordance with the Company’s expense reimbursement policies as in effect from time to time. 
 Indemnification. 
 Subject to applicable law, the Company will
continue to provide you indemnification to the maximum extent permitted by Palm’s Certificate of Incorporation and Bylaws, in addition to coverage under any directors and officers insurance policies maintained by the Company, with such
indemnification to be on terms determined by the Board or any of its committees, but in no case less favorable than those provided to any other officer or director of the Company. 
 Confidential Information.
 You hereby acknowledge that you remain subject to the Palm Employee Agreement
executed by you on June 2, 2007 (the “Employee Agreement”), which among other things governs your treatment of the Company’s confidential information. 
 Noncompetition. 
 You agree that, as long as you are employed by Palm pursuant to this letter agreement, you
will not engage in, or have any direct or indirect interest in any person, firm, corporation or business (whether as an employee, officer, director, agent, security holder, creditor, consultant, partner or otherwise) that designs or manufactures
Competitive Product or causes the design or manufacture by third parties of Competitive Product. Notwithstanding the preceding sentence, you may own (a) not more than 1% of the securities of any company whose securities are publicly traded, and
(b) the securities of any company presently owned by you and disclosed in writing to Palm and approved by Palm prior to the execution of this letter agreement. For purposes of this paragraph, 

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Competitive Product shall mean one or more products that compete with the products designed, developed, manufactured or sold by the Company during the term
of your employment, including products that have been on the Company’s roadmap within the two (2) years preceding the date hereof and products that are placed on the roadmap during the term of your employment, whether or not ultimately
designed, developed, manufactured or sold by the Company. 
 At-Will Employment. 
 This agreement is for employment of an unspecific period of time and constitutes a continuing “employment at will” relationship that may be terminated at any time by you or Palm, with or without
notice, for any or no reason, with or without good cause or for any or no cause, at either party’s option. Your signature at the end of this letter agreement confirms that no promises or agreements that are contrary to our at-will relationship
have been made to you during any of your discussions with Palm, and that this letter agreement contains our complete agreement regarding the terms and conditions of your employment. This “at-will” relationship may not be altered
except as agreed by you and the Board in writing. Neither your job performance nor promotions, commendations, bonuses or the like will give rise to or in any way serve as the basis for modification, amendment, or extension, by implication or
otherwise, of your employment with the Company. 
 Arbitration. 
 You hereby acknowledge that any dispute or controversy arising out of, relating to, or in connection with this letter, or the interpretation, validity, construction, performance, breach, or termination thereof,
including any dispute or controversy relating to your service with the Company or the termination of your service with the Company hereunder, is subject to final and binding arbitration pursuant to Section 11 of the Severance Agreement, which
is the sole, exclusive and final remedy for any dispute or controversy between you and the Company. Nothing in this letter agreement shall prejudice either party’s ability to pursue provisional remedies under California Code of Civil Procedure
§1281.8. 
 Miscellaneous. 
 Assignment. Neither this letter agreement nor the rights or obligations hereunder may be assigned by either party, except that Palm may assign its rights and obligations to a successor. For purposes of this letter agreement,
“successor” means any person, firm, corporation or other business entity that at any time, whether by purchase, merger or otherwise, directly or indirectly, acquires all or substantially all of the assets or business of the Company.
None of your rights to receive any form of compensation payable 

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pursuant to this letter agreement may be assigned or transferred except by will or the laws of descent and distribution. Any other attempted assignment,
transfer, conveyance, or other disposition of your right to compensation or other benefits will be null and void. 
 Successors. This
Agreement will be binding upon and inure to the benefit of (a) your heirs, executors, and legal representatives, and (b) the Company and any person or entity that succeeds to the interest of the Company by reason of a merger, consolidation
or reorganization involving the Company or a sale of all or substantially all of the assets of the Company. The Company further agrees that, in the event of a sale of assets as described in the preceding sentence, it shall use its reasonable best
efforts to cause such assignee or transferee to expressly assume the liabilities, obligations and duties of the Company hereunder. Any successor of the Company will be deemed substituted for the Company under the terms of this letter agreement for
all purposes.
 Waiver. No delay or omission by you or Palm in exercising any right under this letter agreement shall operate as
a waiver of that or any other rights. A waiver or consent given by you or Palm on any one occasion shall be effective only in that instance and shall not be construed as a bar or waiver of any right on any other occasion. No waiver shall
be binding unless in writing, designated as a waiver, and signed by the party waiving the breach. Any waiver, modification or amendment of any provision of this letter agreement shall be effective only if in writing and signed by the parties hereto.
No waiver by either party of any breach of, or compliance with, any condition or provision of this letter agreement by the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another
time. 
 Modification. This letter agreement may not be amended or modified other than by a written agreement designated as an
amendment and executed by you and Palm, following approval of the Board or its designee. 
 Headings. All captions and headings
used in this letter agreement are for convenient reference only and do not form a part of this agreement. 
 Savings Clause. In
the event any provision of this letter agreement, or the application thereof, shall for any reason and to any extent be held invalid, illegal or unenforceable under any applicable law by an arbitrator or a court of competent jurisdiction, the
invalid, illegal or unenforceable provision shall not be deemed a part of this letter agreement. The remainder of this letter agreement shall remain valid and shall be interpreted so as best to reasonably effect the intent of the parties hereto.

 Complete Agreement. This letter agreement, together with the Employee Agreement, the Severance Agreement, as amended hereinabove,
the Management Agreement, as amended hereinabove, the Indemnification Agreement between you and 

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the Company dated July 20, 2007, and the agreements that describe outstanding equity awards made by the Company to you to date (together, the
“Agreements”), constitute the entire understanding and agreement between you and Palm with respect to your employment relationship with the Company and any other subject matter contained herein, and supersede and replace in their entirety
any prior and contemporaneous negotiations, discussions, understandings and agreements, whether written or oral, with respect thereto, including the offer letter from Palm to you dated June 1, 2007 and executed by you on June 2, 2007,
which from and after the Effective Date shall have no further force or effect. This will also confirm that, in coming to this understanding, neither you nor Palm have relied on or made any representation, warranty, inducement or promise that is not
in this letter. Any representations, promises or agreements not specifically included in the Agreements shall not be binding or enforceable against either you or Palm. 
 Withholding. Palm may withhold from any amounts payable to you under this letter agreement such federal, state and local income, employment or other taxes that may be required to be withheld pursuant to
any applicable law or regulation. 
 Governing Law. Except to the extent the federal law of the United States applies, this
letter agreement and the rights and obligations of you and Palm under this letter agreement shall be governed by and construed in accordance with the laws of the State of California (without giving effect to any provision that would result in the
application of another jurisdiction’s laws). You hereby expressly consent to the personal jurisdiction of the state and federal courts located in California for any action or proceeding arising from or relating to this offer letter and/or
relating to any arbitration in which the parties are participants. 
 Advice of Counsel. You acknowledge that you have had the
opportunity to discuss this matter with and obtain advice from your private attorney, have had sufficient time to, and have carefully read and fully understand all the provisions of this letter, and are knowingly and voluntarily entering into this
letter agreement. 
 Counterparts. This letter agreement may be executed in counterparts. Each counterpart will have the same
force and effect as an original and will constitute an effective, binding agreement on the part of each of the undersigned. 

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 If the provisions of this letter accurately set forth our understanding, please sign and date this letter in the
space provided below and return it to me. A duplicate original is enclosed for your records. 
  

					
		 		 	Very truly yours,
			
		 		 	 /s/    Gordon Campbell

		 		 	Gordon Campbell
		 		 	Chair, Compensation Committee
		 		 	Palm, Inc. Board of Directors
			
	ACKNOWLEDGED AND AGREED:	 		 	
			
	 /s/    Jonathan J. Rubinstein
	 		 	 6/10/09

	Jon Rubinstein	 		 	DateSeparation Agreement between the registrant and Edward C. Colligan

 Exhibit 10.63 
 June 10, 2009 
 Edward T. Colligan 
 Dear Ed:

 This letter confirms our agreement concerning your departure from Palm, Inc. (referred to in this letter as “Palm” or the “Company”).

 You hereby resign as CEO, President and director of Palm, effective June 12, 2009, and as an employee of Palm and an officer or director of any of
Palm’s subsidiaries effective July 12, 2009 (hereinafter the “Termination Date”). Further, you hereby resign any other positions that you may hold as a representative of Palm or at the request of Palm, also effective as of the
Termination Date. 
 In satisfaction of Palm’s obligations under the Severance Agreement between you and the Company, amended and restated as of
December 16, 2008 (hereinafter the “Severance Agreement”), provided you have signed and not revoked the Release Agreement attached hereto as Exhibit A, Palm will furnish you or, upon your death, your beneficiary of your estate,
the following benefits: 
  

	 	1.	Palm will pay you a total of $1,200,000, less all applicable federal and state withholding taxes, which amount shall be paid in (a) twelve equal consecutive monthly
installments of $66,666.67 each, commencing August 12, 2009, and (b) an additional single lump sum in the amount of $400,000, payable on July 12, 2010. 

  

	 	2.	 (a) All options (set forth on Schedule I attached hereto) granted to you to purchase Palm stock that are unvested and unexpired on the Termination Date and that
otherwise would have vested (solely by virtue of your continued employment with the Company and not, directly or indirectly, due to a change of control of the Company as defined in the Management Retention Agreement between you and the Company
amended and restated effective as of December 16, 2008, hereinafter “Management Retention Agreement”) during the twelve (12) month period commencing on the Termination Date shall become vested and exercisable on July 31,
2009. (b) In addition, provided that you comply with all of the terms of paragraphs 11-15 below, all options granted to you to purchase Palm stock that are unvested and unexpired on the Termination Date and that otherwise would have vested
(solely by virtue of your continued employment with the Company and not, directly or indirectly, due to a change of control of the Company as defined in the Management Retention Agreement between you and the Company amended and restated effective as
of December 16, 2008, hereinafter “Management Retention Agreement”) on 

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2009 
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or prior to the end of the six (6) month period commencing on the first anniversary of the Termination Date shall remain outstanding and become vested
and exercisable on July 12, 2010. (c) All other unvested options will be forfeited on the Termination Date. 

  

	 	3.	All options granted to you to purchase Palm stock that are vested but unexercised as of the Termination Date or that will become vested and exercisable pursuant hereto following the
Termination Date, and provided that you comply with all of the terms of paragraphs 11-15 below, shall remain outstanding and exercisable during the longer of the eighteen (18) month period commencing on the Termination Date or the period
provided under the applicable stock option agreement. 

  

	 	4.	Those shares of restricted Palm stock that you have purchased from the Company under Grant Number R0000185 and that remain subject to a right of repurchase on the Termination Date
will vest and the Company’s right of repurchase will terminate with respect thereto effective on the Termination Date. This will confirm that those shares of restricted stock that you have purchased from the Company under Grant Numbers
R0000168, R0000178 and R0000183 will be fully vested in accordance with their terms as of June 6, 2009. 

  

	 	5.	Those shares of restricted Palm stock that you have purchased from the Company under Grant Number R0000186 and that remain subject to a right of repurchase on the Termination Date
will vest, and the Company’s right of repurchase with respect thereto will terminate, on the Termination Date if such shares otherwise would have vested and the Company’s right of repurchase would have terminated pursuant the terms of
Grant Number R0000186, amended as provided herein, during the eighteen (18) month period commencing on the Termination Date solely by virtue of your continued employment with the Company and not, directly or indirectly, due to a change of
control of the Company as defined in the Management Retention Agreement. Prior to the Termination Date, Palm will amend Grant Number R0000186 to reflect that all performance-based vesting criteria to which that grant is subject, if any, shall be
deemed achieved in full as of the Termination Date. 

  

	 	6.	 (a) Those restricted stock units (also known as performance shares) with respect to Company stock granted to you under Grant Number PS000800 that are unvested and
unexpired on the Termination Date will vest and be paid effective as of the Termination Date if such shares otherwise would have vested pursuant to the terms of Grant Number PS000800, amended as provided herein, during the twelve (12) month
period commencing on the Termination Date solely by virtue of your continued employment with the Company and not, directly or indirectly, due to a change of control of the Company as defined in the Management Retention Agreement. (b) In
addition, provided that you comply with all of the terms of paragraphs 11-15 below, those restricted stock units with respect to Company stock granted to you under Grant Number PS000800 that 

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2009 
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are unvested and unexpired on the Termination Date and that otherwise would have vested (solely by virtue of your continued employment with the Company and
not, directly or indirectly, due to a change of control of the Company as defined in the Management Retention Agreement) on or prior to the end of the six (6) month period commencing on the first anniversary of the Termination Date, shall
remain outstanding and become vested and be paid July 12, 2010. (c) All other unvested restricted stock units will be forfeited on the Termination Date. (d) Prior to the Termination Date, Palm will amend Grant Number PS000800 to
reflect that all performance-based vesting criteria to which that grant is subject, if any, shall be deemed achieved in full as of the Termination Date. 

  

	 	7.	The Company will pay the premiums otherwise payable by you and your eligible dependents for health, dental and vision benefits coverage for up to eighteen (18) months beginning
on the Termination Date, or until you become eligible for group insurance benefits from another employer, whichever comes first, provided you elect continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended
(“COBRA”), within the time period prescribed under COBRA. After the eighteen (18) month period, you will be responsible for the payment of any COBRA premiums. The Company will not reimburse you for any taxable income imputed to you
because the Company has paid your COBRA premiums or those of your eligible dependents. 

  

	 	8.	On the Termination Date you will receive payment of your accrued but unused vacation time through the Termination Date and, following your submission of proper expense reports, the
total unreimbursed amount of all expenses incurred by you in connection with your employment with Palm that are reimbursable in accordance with the Company’s policies. 

  

	 	9.	For a period of twelve (12) months from the Termination Date, neither Palm (in Company sanctioned communications) nor any of Palm’s officers (as that term is defined in 17
C.F.R. § 240.16a-1(f)) and directors will directly or indirectly disparage, criticize or otherwise make derogatory statements about you to any person or make any public statement or statements to analysts or the press concerning you (except to
the extent consistent with the Company press release and Q&A attached hereto as Exhibit C or as otherwise required by law). The foregoing restrictions will not apply to any statements that are made truthfully in response to a subpoena or
other compulsory legal process. 

 You hereby acknowledge and agree that the Company is authorized to withhold, or cause to be withheld, from
any payment or benefit under this letter agreement the full amount of any applicable withholding taxes. You further acknowledge and agree that, except as provided above, no further additional or other sums, benefits or consideration are due and
owing, or will hereafter become due and owing, to you in consideration of your employment with Palm, other than payment of such benefits as have been accrued for your account under Palm’s 401(k) plan prior to the Termination Date. 

 Edward T. Colligan 
 June 10,
2009 
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 In consideration of the
foregoing, you acknowledge and agree: 
  

	 	10.	On or about July 12, 2009, you will execute the Release Agreement attached to this letter agreement as Exhibit A (hereinafter, the “Release Agreement”).

  

	 	11.	You will comply in all material respects with the provisions of the Employee Agreement that you signed effective the first day of your employment with Palm (the “Employee
Agreement”), a copy of which is attached hereto as Exhibit B for your information. 

  

	 	12.	You will return on or before the Termination Date any and all property of Palm, including all tangible property and equipment and all notes, memos, correspondence, computer-recorded
information and any other embodiment or reproduction (in whole or in part) of any Company confidential or proprietary information, except that you may retain your personal notes, diaries, Rolodex, calendars and correspondence of a personal nature.

  

	 	13.	Your right to receive payment under paragraph 1(b) above and your right to additional vesting under paragraphs 2(b) and 6(b) above, as well as your continued ability to exercise
your vested and unexercised options under the extended exercise provisions of paragraph 3 above, shall terminate if, during the twelve (12) months following the Termination Date, you directly or indirectly recruit, solicit, induce or encourage
any of the Company’s employees to leave their employment. Nothing in this paragraph shall prevent you from serving as a reference upon the request of any Company employee. 

  

	 	14.	Your right to receive payment under paragraph 1(b) above and your right to additional vesting under paragraphs 2(b) and 6(b) above, as well as your continued ability to exercise
your vested and unexercised options under the extended exercise provisions of paragraph 3 above, shall terminate if at any time after the date of this letter agreement and for a period of twelve (12) months following the Termination Date you
directly or indirectly recruit, solicit, induce or encourage any customer of the Company (a) to stop or decrease doing business with or through the Company, or (b) to do business with any other person, firm, partnership, corporation or
other entity that provides Competitive Product, as hereinafter defined. 

  

	 	15.	 The nature of Palm’s business is such that, if you were to become employed by, or substantially involved in, the business of a competitor following the
termination of your employment with the Company, it would be very difficult for you not to rely on or use the Company’s trade secrets and confidential information. To avoid the inevitable disclosure of the Company’s trade secrets and
confidential information, you agree that 

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2009 
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your right to receive payment under paragraph 1(b) above and your right to additional vesting under paragraphs 2(b) and 6(b) above, as well as your continued
ability to exercise your vested and unexercised options under the extended exercise provisions of paragraph 3 above, shall terminate in the event that, prior to July 12, 2010, you directly or indirectly engage in (whether as an employee,
consultant, agent, proprietor, principal, partner, stockholder, corporate officer, director or otherwise), or take any ownership interest in or participate in the financing, operation, management or control of, any person, firm, corporation or
business that designs or manufactures Competitive Product or causes the design or manufacture by third parties of Competitive Product, except for (a) ownership of less than 1% of a publicly-traded company or (b) compensatory equity in
connection with activities permitted under this letter agreement. Notwithstanding the foregoing, you may directly or indirectly provide services (whether as an employee, consultant, agent, proprietor, principal, partner, stockholder, corporate
officer, director or otherwise) to a conglomerate, provided the services are not for a business unit that designs or manufactures Competitive Product or causes the design or manufacture by third parties of Competitive Product (excluding
non-significant customization of existing products). 

 For purposes of this letter agreement, Competitive Product shall
mean one or more products that compete with (i) the existing products of the Company, (ii) those products scheduled to come to market within the two years following the date of this letter agreement or (iii) products on the
Company’s roadmap as of the Termination Date or any time during the one year preceding the date of this letter agreement. Competitive Products shall not include desktop computers, laptop computers, or broadcast media, audio, video or music
players. 
  

	 	16.	For a period of twelve (12) months following the Termination Date you shall not directly or indirectly disparage, criticize or otherwise make derogatory statements regarding
the Company, its business, prospects, products, services, directors, officers or employees or make any public statement or statements to analysts or the press concerning Palm, its business, prospects, products, services, directors, officers or
employees (except to the extent consistent with the Company press release and Q&A attached hereto as Exhibit C). The foregoing restrictions will not apply to any statements that are made truthfully in response to a subpoena or other
compulsory legal process. 

 This letter agreement is not intended, and in no way should it be construed, as an admission of liability or
wrongdoing by any party hereto. 
 Except to the extent the federal law of the United States applies, this letter agreement will be interpreted in accordance
with and governed by the laws of the State of California (without giving effect to any provision that would result in the application of another jurisdiction’s laws). 

 Edward T. Colligan 
 June 10,
2009 
  Page
 6
 
  
 You agree that in the event any
claim or dispute arises between you and the Company based on or relating to the interpretation, performance or breach of this letter agreement and/or the Release Agreement, whether in tort, contract or otherwise, we shall attempt to resolve such
claim or dispute first on an amicable basis through good faith discussions. If we are not able to resolve any dispute through good faith discussions within a reasonable period of time given the nature of the claim or dispute (not in any case to
exceed 30 days), we hereby agree promptly to submit any such claim or dispute to arbitration under the provisions of Section 12 of the Severance Agreement . 
 This letter agreement, together with the Employee Agreement, the Release Agreement, Section 12 of the Severance Agreement, the Indemnification Agreement between you and the Company dated December 16, 2004, and all applicable
equity award agreements (as amended) constitute the entire understanding and agreement between you and Palm with respect to the subject matter contained herein, and supersede any prior negotiations, agreements and understandings, whether written or
oral, with respect thereto, including the Severance Agreement which, with the exception of Section 12 thereof, shall have no further force or effect. For avoidance of doubt, you agree that references in Section 12 of the Severance
Agreement to that agreement shall be construed instead as references to this letter agreement. 
 In the event any provision of this letter agreement, or the
application thereof, shall for any reason and to any extent be held invalid, illegal or unenforceable under any applicable law by an arbitrator or a court of competent jurisdiction, the invalid, illegal or unenforceable provision shall not be deemed
a part of this letter agreement. The remainder of this letter agreement shall remain valid and shall be interpreted so as best to reasonably effect the intent of the parties hereto. 
 Any waiver, modification or amendment of any provision of this letter agreement shall be effective only if in writing and signed by the parties hereto. No waiver by either party of any breach of, or compliance with,
any condition or provision of this letter agreement by the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time. 
 This letter agreement is not assignable by either party, except that Palm may assign it to a successor. For purposes of this letter agreement, “successor”
means any person, firm, corporation or other business entity that at any time, whether by purchase, merger or otherwise, directly or indirectly, acquires all or substantially all of the assets or business of the Company. Any such successor shall be
bound by and shall have the benefit of the provisions of this letter agreement, and Palm shall take all actions necessary to insure that any such successor is so bound. 

 Edward T. Colligan 
 June 10,
2009 
  Page
 7
 
  
 The intent of this letter
agreement is that payments and benefits hereunder comply with Section 409A of the Internal Revenue Code of 1986, as amended, and the regulations and other guidance promulgated thereunder (“Section 409A”), and, accordingly, to the
maximum extent permitted, this letter agreement shall be interpreted to be in compliance therewith. In addition, with regard to any provision herein that provides for reimbursement of costs and expenses or in-kind benefits, except as permitted by
Section 409A all such payments shall be made on or before the last day of the calendar year following the calendar year in which the expense occurred. 
 If the provisions of this letter accurately set forth our understanding, please acknowledge your agreement by signing the enclosed copy of this letter and returning it to me. 
  

	
	Sincerely,
	
	 /s/    Gordon Campbell

	Gordon Campbell
	Chair, Compensation Committee
	Palm, Inc. Board of Directors

 ACKNOWLEDGED AND AGREED: 
  

					
	 /s/    Edward T. Colligan
	 		  	 6/10/09

	Edward T. Colligan	 		  	Date

 EXHIBIT A 
 RELEASE AGREEMENT 
 This Release Agreement is entered pursuant to that letter agreement between me and Palm, Inc.
(hereinafter “Palm” or the “Company”), dated June 10, 2009 (the “Letter Agreement”). 
 1. Except with
respect to the obligations created by, acknowledged by, or arising out of the Letter Agreement, I, on behalf of myself, my heirs, administrators, representatives, executors, agents, attorneys, insurers, legal successors and assigns, and each of
them, hereby fully and forever release Palm and each of its current and former employees, officers, directors, shareholders, affiliates, subsidiaries, agents, attorneys, insurers, legal successors and assigns, in such capacities (the “Released
Parties”) of and from any and all claims, duties, obligations, actions and causes of action, whether now known or unknown, that I now have, at any other time had, or shall or may hereafter have against the Released Parties, or any of them,
based upon or arising out of any matter, cause, fact, thing, act or omission whatsoever occurring or existing any time up to and including the date I sign this Release Agreement, including, but not limited to, any claims arising from or related to
my employment with the Company or the termination of that employment, any and all claims relating to, or arising from, my right to purchase, or actual purchase of shares of stock of the Company, including, without limitation, any claims for fraud,
misrepresentation, breach of fiduciary duty, breach of duty under applicable state corporate law, and securities fraud under any state or federal law and any claims of breach of contract, wrongful termination, fraud, defamation, infliction of
emotional distress or discrimination due to national origin, race, religion, age, sex, sexual orientation, disability or other discrimination or harassment under the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Age Discrimination in
Employment Act of 1967, the Americans with Disabilities Act of 1990, the Fair Labor Standards Act, the Employee Retirement Income Security Act of 1974, the Worker Adjustment and Retraining Notification Act, the Older Workers Benefit Protection Act,
the Family and Medical Leave Act, the California Family Rights Act, the California Fair Employment and Housing Act, and the California Labor Code, including, but not limited to California Labor Code Sections 1400-1408 or any other applicable law.
The foregoing release shall not extend to any right I may have to coverage under the Company’s directors and officers insurance coverage, to indemnification by the Company in connection with my acts or omissions in the course and scope of my
employment with the Company, nor to rights or benefits in which I have vested under the Company’s employee benefit plans. In addition, the foregoing release does not extend to claims that cannot be released as a matter of law. 
 2. I acknowledge and confirm that: 
 a.
pursuant to paragraph 1 of this Release Agreement, I am waiving and releasing any rights I may have under the Age Discrimination in Employment Act of 1967 (hereinafter “ADEA”), that such waiver and release is knowing and voluntary, and
that such waiver and release does not apply to any rights or claims that may arise under ADEA after the date I sign this Release Agreement; 

 b. this Release Agreement is entered in exchange for the payments and benefits described in paragraphs
1-9 of the Letter Agreement, which I agree provide independent consideration for this Release Agreement and are in addition to anything of value to which I otherwise would have been entitled on account of the termination of my employment, whether
under the Severance Agreement or otherwise; 
 c. I have been advised to consult with an attorney prior to executing this Release
Agreement; have up to twenty-one (21) days within which to consider this Release Agreement; have seven (7) days following my execution of this letter agreement to revoke this Release Agreement; that this Release Agreement will not be
effective until the revocation period has expired; and that I will not receive any consideration pursuant to the Letter Agreement until the revocation period has expired; 
 d. that nothing in this Release Agreement prevents or precludes me from challenging or seeking a determination in good faith of the validity of this Release Agreement under the ADEA, nor does it impose any condition
precedent, penalties or costs for doing so, unless specifically authorized by federal law. 
 3. In connection with the foregoing general
release, I acknowledge that I have read and understand Section 1542 of the Civil Code of the State of California, which provides in full as follows: 
 A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected
his or her settlement with the debtor. 
 I hereby expressly waive and relinquish all rights and benefits I have or may have under Section 1542 or
any similar provision of the laws of any other applicable jurisdiction to the full extent that I may lawfully waive such rights and benefits. I affirm that I am releasing all known and unknown claims that I have or may have against the Released
Parties. I further acknowledge that I or my agents or attorneys may hereafter discover facts or claims in addition to or different from those I now know or believe to exist, but that I nevertheless intend to fully and finally settle all claims
released herein. 
 4. I warrant and represent that I have not voluntarily, by operation of law, or otherwise, assigned or transferred to any
other person or entity any interest in all or any portion of those matters released under this Release Agreement. 
 5. In the event any
provision of this Release Agreement is deemed invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired. The remainder of this letter agreement shall remain
valid and shall be interpreted so as best to reasonably effect the intent of the parties hereto. 

 6. Except to the extent the federal law of the United States applies, this Release Agreement shall be
interpreted in accordance with and governed by the laws of the State of California (without giving effect to any provision that would result in the application of another jurisdiction’s laws). 
  

							
	Dated: July    , 2009	 		 	By:	 	  

		 		 		 	Edward T. Colligan

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