Document:

Offer Letter to Satish Rishi dated April 7, 2006

 Exhibit 10.19 
 April 7, 2006 
 Satish Rishi 
 [Intentionally Omitted] 
 [Intentionally Omitted] 
  

	Dear	Satish: 

 We are pleased to offer you a
position with Rambus as Vice President of Finance and Chief Financial Officer. 
 Your starting base salary will be $25,000.00/month, which over a full year
would equal $300,000.00. You will also have a target bonus of $200,000.00 annually. You will be eligible for Rambus’ standard benefits package including insurance and 3 weeks annual vacation. 
 Rambus agrees to reimburse you for up to $250,000.00 for relocation expenses. If you should terminate employment with Rambus for any reason within one year of your
relocation, you will be required to repay a pro-rated portion of the amount received. 
 You will also receive a signing bonus of $120,000.00. This will be
payable within 2 weeks of your start date. If you should terminate employment with Rambus for any reason within one year of your date of hire, you will be required to repay a pro-rated portion of the amount received. 
 Rambus will grant an option to you to purchase 220,000 shares of Rambus stock. The option grant will be made after formal approval by the Compensation Committee on your
first day of employment at Rambus. Options vest as follows: no options will vest in the first six months; after six months 10% of options will vest; after that each month options will vest at a linear rate such that all options have vested to you
exactly five years after starting with Rambus. This is a standard vesting schedule. 
 Additionally, Rambus will grant you 40,000 restricted shares under the
following vesting schedule: 5,000 vesting on your six month anniversary; 5,000 vesting on your twelve month anniversary; and the remainder vesting annually in equal 10,000 share amounts. 

 Enclosed is a copy of our Employment, Confidential Information and Invention Assignment Agreement. This document assigns
rights to all inventions to Rambus and requires you to keep confidential all matters regarding Rambus technology and business relationships until Rambus has made such information public. Please read, sign, and return this agreement on your first day
of work. 
 Also enclosed is a copy of our Insider Trading Compliance Program and our Code of Business Conduct and Ethics. Please review, sign the
acknowledgment forms, and return on your first day of work. 
 Federal legislation requires all employers to verify the authorization to work of all
employees. Under this law, you will be required to furnish documentation within 72 hours of starting work. 
 If you wish to accept employment at Rambus
under the terms set out above, please sign and date this letter and return it to me no later than Friday, April 14, 2006, keeping the copy for your records. If you accept our offer we would like you to start as soon as possible. 
 Satish, I know you can do a great job for us. I believe Rambus is an excellent company that can provide you with a continuing challenge and opportunity for personal
growth. 
 Sincerely, 
 Harold Hughes 
 CEO 
 I have read and accept the above: 
  

									
	/s/ Harold Hughes	 		 	April 7, 2006
	Signature	 		 	Date Signed
			
	  	 		 	
	Start DateFourth Amendment to the Rights Agreement

 Exhibit 4.5 
 FOURTH AMENDMENT 
 to the 
 RIGHTS AGREEMENT 
 between 
 REDBACK NETWORKS INC. 
 and 
 U.S. STOCK TRANSFER CORPORATION 
 This Fourth Amendment (the “Amendment”) to the Rights Agreement
is made and entered into as of May 9, 2006 between REDBACK NETWORKS INC., a Delaware corporation (the “Company”), and U.S. STOCK TRANSFER CORPORATION, as Rights Agent (the “Rights Agent”). 
 B A C K G R O U N D 
 WHEREAS, the Company
and the Rights Agent entered into a Rights Agreement dated as of June 12, 2001, which was amended on May 21, 2002, October 2, 2003 and January 5, 2004 (the “Rights Agreement”); 
 WHEREAS, Section 27 of the Rights Agreement provides that, in certain circumstances, the Company may supplement or amend the Rights Agreement
without the approval of any holders of Rights; 
 WHEREAS, TCV IV, L.P. and TCV IV Strategic Partners, L.P. (the “Investors”) may
purchase shares of the Common Stock, par value $0.0001 per share, in the proposed public offering contemplated by the proposed May 9, 2006 prospectus supplement to the Registration Statement on Form S-3ASR (Registration No. 333-133903)
initially filed by the Company with the United States Securities and Exchange Commission on May 8, 2006 (the “Offering”); 
 WHEREAS, on May 9, 2006, the Investors entered into an agreement with Alta Partners LTD and Alta Partners Discount Convertible Arbitrage LTD (together, “Alta”), for which Quattro Global Capital, LLC serves as investment
manager, pursuant to which the Investors will purchase 1,927,500 shares of the Common Stock from Alta (the “Quattro Sale Transaction”); 
 WHEREAS, the Investors may acquire additional shares of the Common Stock from time to time in various types of transactions, including but not limited to, open market purchases and privately negotiated transactions; 
 WHEREAS, on May 5, 2006, the Board of Directors of the Company resolved to amend the Rights Agreement to render the Rights inapplicable to shares of
the Common Stock acquired by the Investors pursuant to (i) the Offering, (ii) the Quattro Sale Transaction and (iii) other transactions to the extent that such acquisitions do not cause the aggregate shares of the Common Stock held by
the Investors and their affiliates to exceed 19.9% beneficial ownership (calculated in accordance with Rule 13d-3 under the Securities Exchange Act of 1934, as amended) of the Common Stock; and 

 WHEREAS, the Company desires to modify the terms of the Rights Agreement in certain respects as set forth
herein, and in connection therewith, is entering into this Amendment and directing the Rights Agent to enter into this Amendment. 
 NOW,
THEREFORE, for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows: 
 1. Effect of Amendment. Except as expressly provided herein, the Rights Agreement shall be and remain in full force and effect. 
 2. Capitalized Terms. All capitalized, undefined terms used in this Amendment shall have the meanings assigned thereto in the Rights Agreement. 
 Removal of Certain Definitions. The definitions for “Market Purchases” and “Warrants” contained in Section 1 of the Rights Agreement shall be removed from the Rights Agreement and shall
have no further force or effect. 
 3. Amendment to Section 1(a). Section 1(a) of the Rights Agreement is hereby amended by
deleting the sentence added to Rights Agreement pursuant to Section 4 of the Third Amendment to the Rights Agreement between the Company and the Rights Agent dated January 5, 2004 and replacing it with following new sentence: 

“Notwithstanding any of the foregoing, neither of the Investors nor any of their Affiliates or Associates shall be an “Acquiring
Person” unless and until the Investors or any of their Affiliates or Associates shall become the Beneficial Owner of greater than 19.9% of the shares of Common Stock then outstanding, excluding for the purpose of such calculation the Director
Grants or any shares of Common Stock issued upon exercise thereof; provided, however, that neither of the Investors nor any of their Affiliates or Associates shall become an “Acquiring Person” as the result of an acquisition
of shares of Common Stock by the Company which, by reducing the number of shares outstanding, increases the proportionate number of shares of Common Stock beneficially owned by such Person to greater than 19.9% of the shares of Common Stock then
outstanding, provided, however, that if either of the Investors or any of their Affiliates or Associates shall become the Beneficial Owner of greater than 19.9% of the shares of Common Stock then outstanding by reason of such share
acquisitions by the Company, or pursuant to a split or subdivision of the outstanding Common Stock or Series B Preferred, or pursuant to a dividend or distribution paid or made by the Company on the outstanding Common Stock or Series B Preferred
other than any shares of Common Stock issued pursuant to Section (d)(xiii) of the Certificate of Designation with respect to the Series B Preferred as payment for accrued dividends on the Series B Preferred, which shall be attributed to the
Investors and their Affiliates and Associates, and shall thereafter become the Beneficial Owner of any additional shares of Common Stock (other than through Director Grants or any exercise thereof), then such Person shall be deemed to be an
“Acquiring Person” unless upon becoming the Beneficial Owner of such additional shares of Common Stock such Person does not beneficially own greater than 19.9% of the shares of Common Stock then outstanding.” 
 4. Effective Date. This Amendment is effective as of the date hereof. 
  

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 5. Governing Law. This Amendment shall be governed by, construed and enforced in accordance with
the laws of the State of Delaware without reference to the conflicts or choice of law principles thereof. 
 6. Counterparts. This
Amendment may be executed in separate counterparts, each of which when executed and delivered is an original but all of which taken together constitute one and the same instrument. 
 7. Fax Transmission. A facsimile, telecopy or other reproduction of this Amendment may be executed by one or more parties hereto, and an executed
copy of this Amendment may be delivered by one or more parties hereto by facsimile or similar instantaneous electronic transmission device pursuant to which the signature of or on behalf of such party can be seen, and such execution and delivery
shall be considered valid, binding and effective for all purposes. At the request of any party hereto, all parties hereto agree to execute an original of the Amendment as well as any facsimile, telecopy or other reproduction thereof. 
 [signature page follows] 
  

 3 

 IN WITNESS WHEREOF, the Company and the Rights Agent have caused this Amendment to be duly executed as of
the day first above written. 
  

			
	REDBACK NETWORKS INC.
		
	By:	 	 /S/    BETH
FRENSILLI        

		 	 Name: Beth Frensilli
 Title: Vice President
and General Counsel

  

			
	 U.S. STOCK TRANSFER CORPORATION
 as Rights Agent

		
	By:	 	 /S/    BRIDGET
BARELA        

		 	 Name: Bridget Barela
 Title: Assistant Vice
President

  

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