Document:

Form of Indemnification Agreement

 Exhibit 10.3 

INDEMNIFICATION AGREEMENT 

This Indemnification Agreement (the “Agreement”), dated as of
                            , 2010, between Inphi Corporation, a Delaware corporation (the
“Corporation”), and                             
(“Indemnitee”), 
 W I T N E S S E T H: 

WHEREAS, Indemnitee is either a member of the board of directors of the Corporation (the “Board of Directors”), a
director of a wholly owned subsidiary of the Corporation, an officer of the Corporation or an officer of a wholly owned subsidiary of the Corporation, or one or more of such positions, and in such capacity or capacities, or otherwise as an Agent (as
hereinafter defined) of the Corporation, is performing a valuable service for the Corporation; and 
 WHEREAS, the Corporation
is aware that competent and experienced persons are increasingly reluctant to serve as directors or officers of corporations or other business entities unless they are protected by comprehensive indemnification and liability insurance, due to
increased exposure to litigation costs and risks resulting from their service to such entities, and because the exposure frequently bears no reasonable relationship to the compensation of such directors and officers; and 

WHEREAS, the Board of Directors of the Corporation has concluded that, to retain and attract talented and experienced individuals to
serve or continue to serve as officers or directors of the Corporation or its subsidiaries, and to encourage such individuals to take the business risks necessary for the success of the Corporation, it is necessary for the Corporation contractually
to indemnify directors and officers and to assume for itself to the fullest extent permitted by law expenses and damages in connection with claims against such officers or directors in connection with their service to the Corporation; and

 WHEREAS, section 145 of the General Corporation Law of Delaware (the “DGCL”), under which the
Corporation is organized, empowers the Corporation to indemnify by agreement its officers, directors, employees and agents, and persons who serve, at the request of the Corporation, as directors, officers, employees or agents of other corporations
or enterprises, and expressly provides that the indemnification provided by the DGCL is not exclusive; and 
 WHEREAS, the
Corporation desires and has requested the Indemnitee to serve or continue to serve as a director, officer or agent of the Corporation or one or more of its subsidiaries free from undue concern for claims for damages arising out of or related to such
services to the Corporation; and 
 WHEREAS, Indemnitee is willing to serve, continue to serve and to take on additional service
for or on behalf of the Corporation on the condition that he or she be indemnified as herein provided; and 
 WHEREAS, it is
intended that Indemnitee shall be paid promptly by the Corporation all amounts necessary to effectuate in full the indemnity provided herein; and 

 WHEREAS, certain defined terms are set forth in Section 16 below: 

NOW, THEREFORE, in consideration of the premises and the covenants in this Agreement, and of Indemnitee serving or continuing to serve
the Corporation or one or more of its subsidiaries as an Agent and intending to be legally bound hereby, the parties hereto agree as follows: 

1. Services by Indemnitee. Indemnitee agrees to serve or continue to serve (a) as a director or an officer of the
Corporation, or as a director or employee of a wholly owned subsidiary of the Corporation, or one or more of such positions, so long as Indemnitee is duly appointed or elected and qualified in accordance with the applicable provisions of the
Certificate of Incorporation and bylaws of the Corporation, and until such time as Indemnitee resigns or fails to stand for election or is removed from Indemnitee’s position, or (b) otherwise as an Agent of the Corporation. Indemnitee may
from time to time also perform other services at the request or for the convenience of, or otherwise benefiting the Corporation or one or more of its subsidiaries. Indemnitee may at any time and for any reason resign or be removed from such position
(subject to any other contractual obligation or other obligation imposed by operation of law), in which event the Corporation shall have no obligation under this Agreement to continue Indemnitee in any such position. 

2. Indemnification of Indemnitee. Subject to the limitations set forth herein and particularly in Section 6 hereof, the
Corporation shall indemnify Indemnitee as follows: 
 (a) The Corporation shall, with respect to any Proceeding (as hereinafter
defined), indemnify Indemnitee to the fullest extent permitted by applicable law or as such law may from time to time be amended (but, in the case of any such amendment, only to the extent such amendment permits the Corporation to provide broader
indemnification rights than the law permitted the Corporation to provide before such amendment). The right to indemnification conferred herein shall be presumed to have been relied upon by Indemnitee in serving or continuing to serve the Corporation
as an Agent and shall be enforceable as a contract right. Without in any way diminishing the scope of the indemnification provided by this Section 2(a), the rights of indemnification of Indemnitee shall include but shall not be limited to those
rights hereinafter set forth. 
 (b) The Corporation shall indemnify Indemnitee if Indemnitee is or was a party or is threatened
to be made a party to any Proceeding (other than an action by or in the right of the Corporation) by reason of the fact that Indemnitee is or was an Agent of the Corporation, or any subsidiary of the Corporation, or by reason of the fact that
Indemnitee is or was serving at the request of the Corporation as an Agent of another corporation, partnership, joint venture, trust or other enterprise, against Expenses (as hereinafter defined) or Liabilities (as hereinafter defined), actually and
reasonably incurred by Indemnitee in connection with such Proceeding if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Corporation, and, with respect to any criminal
action or proceeding, had no reasonable cause to believe Indemnitee’s conduct was unlawful. 
  

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 (c) The Corporation shall indemnify Indemnitee if Indemnitee was or is a party or is
threatened to be made a party to any Proceeding by or in the right of the Corporation or any subsidiary of the Corporation to procure a judgment in its favor by reason of the fact that Indemnitee is or was an Agent of the Corporation, or any
subsidiary of the Corporation, or by reason of the fact that Indemnitee is or was serving at the request of the Corporation as an Agent of another corporation, partnership, joint venture, trust or other enterprise, against Expenses and, to the
fullest extent permitted by law, Liabilities if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Corporation, except that no indemnification shall be made in respect
of any claim, issue or matter as to which Indemnitee shall have been adjudged to be liable to the Corporation unless and only to the extent that the Court of Chancery of the State of Delaware or the court in which such action or suit was brought
shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery of the State of
Delaware or such other court shall deem proper. 
 3. Advancement of Expenses. All reasonable Expenses incurred by or on
behalf of Indemnitee (including costs of enforcement of this Agreement) shall be advanced from time to time by the Corporation to Indemnitee within thirty (30) days after the receipt by the Corporation of a written request for an advance of
Expenses, whether prior to or after final disposition of a Proceeding (except to the extent that there has been a Final Adverse Determination (as hereinafter defined) that Indemnitee is not entitled to be indemnified for such Expenses), including
without limitation any Proceeding brought by or in the right of the Corporation. The written request for an advancement of any and all Expenses under this paragraph shall contain reasonable detail of the Expenses incurred by Indemnitee. In the event
that such written request shall be accompanied by an affidavit of counsel to Indemnitee to the effect that such counsel has reviewed such Expenses and that such Expenses are reasonable in such counsel’s view, then such expenses shall be deemed
reasonable in the absence of clear and convincing evidence to the contrary. By execution of this Agreement, Indemnitee shall be deemed to have made whatever undertaking as may be required by law at the time of any advancement of Expenses with
respect to repayment to the Corporation of such Expenses. In the event that the Corporation shall breach its obligation to advance Expenses under this Section 3, the parties hereto agree that Indemnitee’s remedies available at law would
not be adequate and that Indemnitee would be entitled to specific performance. 
 4. Presumptions and Effect of Certain
Proceedings. Upon making a request for indemnification, Indemnitee shall be presumed to be entitled to indemnification under this Agreement and the Corporation shall have the burden of proof to overcome that presumption in reaching any contrary
determination. The termination of any Proceeding by judgment, order, settlement, arbitration award or conviction, or upon a plea of nolo contendere or its equivalent shall not affect this presumption or, except as determined by a judgment or other
final adjudication adverse to Indemnitee, establish a presumption with regard to any factual matter relevant to determining Indemnitee’s rights to indemnification hereunder. If the person or persons so empowered to make a determination pursuant
to Section 5 hereof shall have failed to make the requested determination within the period provided for in Section 5, a determination that Indemnitee is entitled to indemnification shall be deemed to have been made. 

 

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 5. Procedure for Determination of Entitlement to Indemnification. 

(a) Whenever Indemnitee believes that Indemnitee is entitled to indemnification pursuant to this Agreement, Indemnitee shall submit a
written request for indemnification to the Corporation. Any request for indemnification shall include sufficient documentation or information reasonably available to Indemnitee for the determination of entitlement to indemnification. In any event,
Indemnitee shall submit Indemnitee’s claim for indemnification within a reasonable time, not to exceed five (5) years after any judgment, order, settlement, dismissal, arbitration award, conviction, acceptance of a plea of nolo contendere
or its equivalent, or final determination, whichever is the later date for which Indemnitee requests indemnification. The Secretary or other appropriate officer shall, promptly upon receipt of Indemnitee’s request for indemnification, advise
the Board of Directors in writing that Indemnitee has made such request. Determination of Indemnitee’s entitlement to indemnification shall be made not later than sixty (60) days after the Corporation’s receipt of Indemnitee’s
written request for such indemnification, provided that any request for indemnification for Liabilities, other than amounts paid in settlement, shall have been made after a determination thereof in a Proceeding. If it is so determined that the
Indemnitee is entitled to indemnification, and Indemnitee has already paid the Liabilities, reimbursement to the Indemnitee shall be made within ten (10) days after such determination; otherwise, the Corporation shall pay the Liabilities on
behalf of Indemnitee if and when Indemnitee becomes legally obligated to make payment. 
 (b) The Corporation shall be entitled
to select the forum in which Indemnitee’s entitlement to indemnification will be heard; provided, however, that if there is a Change in Control of the Corporation, Independent Legal Counsel (as hereinafter defined) shall determine
whether Indemnitee is entitled to indemnification. The forum shall be any one of the following: 
 (i) a majority
vote of Disinterested Directors (as hereinafter defined), even though less than a quorum; 
 (ii) by a committee
of Disinterested Directors designated by majority vote of Disinterested Directors, even though less than a quorum; 

(iii) Independent Legal Counsel, whose determination shall be made in a written opinion; or 

(iv) the stockholders of the Corporation. 

6. Specific Limitations on Indemnification. Notwithstanding anything in this Agreement to the contrary, the Corporation shall not
be obligated under this Agreement to make any payment to Indemnitee with respect to any Proceeding: 
 (a) To the extent that
payment is actually made to Indemnitee under any insurance policy, or is made to Indemnitee by the Corporation or an affiliate otherwise than pursuant to this Agreement. Notwithstanding the availability of such insurance, Indemnitee also may claim
indemnification from the Corporation pursuant to this Agreement by assigning to the Corporation any claims under such insurance to the extent Indemnitee is paid by the Corporation; 

 

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 (b) Provided there has been no Change in Control, for Liabilities in connection with
Proceedings settled without the Corporation’s consent, which consent, however, shall not be unreasonably withheld; 
 (c)
For an accounting of profits made from the purchase or sale by Indemnitee of securities of the Corporation within the meaning of section 16(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or
similar provisions of any state statutory or common law; 
 (d) To the extent it would be otherwise prohibited by law, if so
established by a judgment or other final adjudication adverse to Indemnitee; or 
 (e) In connection with a Proceeding commenced
by Indemnitee (other than a Proceeding commenced by Indemnitee to enforce Indemnitee’s rights under this Agreement) unless the commencement of such Proceeding was authorized by the Board of Directors. 

7. Fees and Expenses of Independent Legal Counsel. The Corporation agrees to pay the reasonable fees and expenses of Independent
Legal Counsel should such Independent Legal Counsel be retained to make a determination of Indemnitee’s entitlement to indemnification pursuant to Section 5(b) of this Agreement, and to fully indemnify such Independent Legal Counsel
against any and all expenses and losses incurred by any of them arising out of or relating to this Agreement or their engagement pursuant hereto. 

8. Remedies of Indemnitee. 

(a) In the event that (i) a determination pursuant to Section 5 hereof is made that Indemnitee is not entitled to
indemnification, (ii) advances of Expenses are not made pursuant to this Agreement, (iii) payment has not been timely made following a determination of entitlement to indemnification pursuant to this Agreement, or (iv) Indemnitee
otherwise seeks enforcement of this Agreement, Indemnitee shall be entitled to a final adjudication in the Court of Chancery of the State of Delaware of the remedy sought. Alternatively, unless court approval is required by law for the
indemnification sought by Indemnitee, Indemnitee at Indemnitee’s option may seek an award in arbitration to be conducted by a single arbitrator pursuant to the commercial arbitration rules of the American Arbitration Association now in effect,
which award is to be made within ninety (90) days following the filing of the demand for arbitration. The Corporation shall not oppose Indemnitee’s right to seek any such adjudication or arbitration award. In any such proceeding or
arbitration Indemnitee shall be presumed to be entitled to indemnification and advancement of Expenses under this Agreement and the Corporation shall have the burden of proof to overcome that presumption. 

(b) In the event that a determination that Indemnitee is not entitled to indemnification, in whole or in part, has been made pursuant to
Section 5 hereof, the decision in the judicial proceeding or arbitration provided in paragraph (a) of this Section 8 shall be made de novo and Indemnitee shall not be prejudiced by reason of a determination that Indemnitee is
not entitled to indemnification. 
  

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 (c) If a determination that Indemnitee is entitled to indemnification has been made pursuant
to Section 5 hereof, or is deemed to have been made pursuant to Section 4 hereof or otherwise pursuant to the terms of this Agreement, the Corporation shall be bound by such determination. 

(d) The Corporation shall be precluded from asserting that the procedures and presumptions of this Agreement are not valid, binding and
enforceable. The Corporation shall stipulate in any such court or before any such arbitrator that the Corporation is bound by all the provisions of this Agreement and is precluded from making any assertion to the contrary. 

(e) Expenses reasonably incurred by Indemnitee in connection with Indemnitee’s request for indemnification under, seeking
enforcement of or to recover damages for breach of this Agreement shall be advanced by the Corporation when and as incurred by Indemnitee irrespective of any Final Adverse Determination that Indemnitee is not entitled to indemnification. 

9. Contribution. To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is
unavailable to Indemnitee for any reason whatsoever, the Corporation, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in
settlement and/or for Expenses, in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances of such Proceeding in order to reflect
(i) the relative benefits received by the Corporation and Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such Proceeding; and/or (ii) the relative fault of the Corporation (and its directors, officers,
employees and agents) and Indemnitee in connection with such event(s) and/or transaction(s). 
 10. Maintenance of
Insurance. The Corporation represents that it presently has in place certain directors’ and officers’ liability insurance policies covering the directors and officers of the Corporation and the directors and officers of the wholly
owned subsidiaries of the Corporation. Subject only to the provisions within this Section 10, the Corporation agrees that so long as Indemnitee shall have consented to serve or shall continue to serve as a director or officer of the Corporation
as a director or officer of a wholly owned subsidiary of the Corporation, or one or more of such positions, or as an Agent of the Corporation, and thereafter so long as Indemnitee shall be subject to any possible Proceeding (such periods being
hereinafter sometimes referred to as the “Indemnification Period”), the Corporation will use all reasonable efforts to maintain in effect for the benefit of Indemnitee one or more valid, binding and enforceable policies of
directors’ and officers’ liability insurance from established and reputable insurers, providing, in all respects, coverage both in scope and amount which is no less favorable than that presently provided or, following the
Corporation’s initial public offering, than that provided as of the time of such initial public offering. Notwithstanding the foregoing, the Corporation shall not be required to maintain said policies of directors’ and officers’
liability insurance during any time period if during such period such insurance is not reasonably available or if it is determined in good faith by the then directors of the Corporation either that: 

 

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 (i) The premium cost of maintaining such insurance is substantially
disproportionate to the amount of coverage provided thereunder; or 
 (ii) The protection provided by such
insurance is so limited by exclusions, deductions or otherwise that there is insufficient benefit to warrant the cost of maintaining such insurance. 

Anything in this Agreement to the contrary notwithstanding, to the extent that and for so long as the Corporation shall choose to
continue to maintain any policies of directors’ and officers’ liability insurance during the Indemnification Period, the Corporation shall maintain similar and equivalent insurance for the benefit of Indemnitee during the Indemnification
Period (unless such insurance shall be less favorable to Indemnitee than the Corporation’s existing policies). 
 11.
Modification, Waiver, Termination and Cancellation. No supplement, modification, termination, cancellation or amendment of this Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the
provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar), nor shall such waiver constitute a continuing waiver. 

12. Subrogation. In the event of payment under this Agreement, the Corporation shall be subrogated to the extent of such payment
to all of the rights of recovery of Indemnitee, who shall execute all papers required and shall do everything that may be necessary to secure such rights, including the execution of such documents necessary to enable the Corporation effectively to
bring suit to enforce such rights. 
 13. Notice by Indemnitee and Defense of Claim. Indemnitee shall promptly notify the
Corporation in writing upon being served with any summons, citation, subpoena, complaint, indictment, information or other document relating to any matter, whether civil, criminal, administrative or investigative which may result in the right to
indemnification or the advancement of Expenses, but the omission so to notify the Corporation will not relieve it from any liability that it may have to Indemnitee if such omission does not prejudice the Corporation’s rights. If such omission
does prejudice the Corporation’s rights, the Corporation will be relieved from liability only to the extent of such prejudice. Notwithstanding the foregoing, such omission will not relieve the Corporation from any liability that it may have to
Indemnitee otherwise than under this Agreement. With respect to any Proceeding as to which Indemnitee notifies the Corporation of the commencement thereof: 

(a) The Corporation will be entitled to participate therein at its own expense; and 

(b) The Corporation jointly with any other indemnifying party similarly notified will be entitled to assume the defense thereof, with
counsel reasonably satisfactory to Indemnitee; provided, however, that the Corporation shall not be entitled to assume the defense of any Proceeding if there has been a Change in Control or if Indemnitee shall have reasonably concluded
that there may be a conflict of interest between the Corporation and Indemnitee with respect to such Proceeding. After notice from the Corporation to Indemnitee of its election to assume the defense thereof, the Corporation will not be liable to
Indemnitee under this 
  

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Agreement for any Expenses subsequently incurred by Indemnitee in connection with the defense thereof, other than reasonable costs of investigation or as otherwise provided below. Indemnitee
shall have the right to employ Indemnitee’s own counsel in such Proceeding, but the fees and expenses of such counsel incurred after notice from the Corporation of its assumption of the defense thereof shall be at the expense of Indemnitee
unless: 
 (i) the employment of counsel by Indemnitee has been authorized by the Corporation; 

(ii) Indemnitee shall have reasonably concluded that counsel engaged by the Corporation may not adequately represent
Indemnitee due to, among other things, actual or potential differing interests; or 
 (iii) the Corporation shall
not in fact have employed counsel to assume the defense in such Proceeding or shall not in fact have assumed such defense and be acting in connection therewith with reasonable diligence; in each of which cases the fees and expenses of such counsel
shall be at the expense of the Corporation. 
 (c) The Corporation shall not settle any Proceeding in any manner that would
impose any penalty or limitation on Indemnitee without Indemnitee’s written consent; provided, however, that Indemnitee will not unreasonably withhold his or her consent to any proposed settlement. 

14. Notices. All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have
been duly given if (i) delivered by hand and receipted for by the party to whom said notice or other communication shall have been directed, or (ii) mailed by certified or registered mail with postage prepaid, on the third business day
after the date on which it is so mailed: 
  

	 	(a)	If to Indemnitee, to the address set forth below Indemnitee’s signature on the signature page hereof. 

 

	 	(b)	If to the Corporation, to: 

Inphi Corporation 

2393 Towngate Road 

Westlake Village CA 91361 

Attn:
[                                        ]

 or to such other address as may have been furnished to Indemnitee by the Corporation or to the Corporation by Indemnitee, as the case may be.

 15. Nonexclusivity. The rights of Indemnitee hereunder shall not be deemed exclusive of any other rights to which
Indemnitee may be entitled under applicable law, the Corporation’s Certificate of Incorporation or bylaws, or any agreements, vote of stockholders, resolution of the Board of Directors or otherwise, and to the extent that during the
Indemnification Period the rights of the then existing directors and officers are more favorable to such directors or officers than the rights currently provided to Indemnitee thereunder or under this Agreement, Indemnitee shall be entitled to the
full benefits of such more favorable rights. 
  

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 16. Indemnification and Advancement Rights Primary. The Company hereby acknowledges
that Indemnitee has or may have certain rights to indemnification, advancement of expenses and/or insurance provided by one or more parties other than the Company or an affiliate of the Company (collectively, the “Secondary
Indemnitors”). The Company hereby acknowledges and the Company and Indemnitee hereby agree: (i) that the Company is the indemnitor of first resort; i.e., its obligations to Indemnitee are primary and any obligation of the Secondary
Indemnitors to advance expenses or to provide indemnification for the same expenses or liabilities incurred by Indemnitee are secondary; (ii) that the Company shall be required to advance the full amount of expenses incurred by Indemnitee and
shall be liable for the full amount of all expenses, judgments, penalties, fines and amounts paid in settlement to the extent legally permitted and as required by the terms of this Agreement and the Certificate of Incorporation and/or Bylaws of the
Company (or any other agreement between the Company and Indemnitee), without regard to any rights Indemnitee may have against the Secondary Indemnitors; and (iii) that the Company irrevocably waives, relinquishes and releases the Secondary
Indemnitors from any and all claims against the Secondary Indemnitors that the Company may have for contribution, subrogation or any other recovery of any kind in respect thereof. The Company further agrees that no advancement or payment by the
Secondary Indemnitors on behalf of Indemnitee with respect to any claim for which Indemnitee has sought indemnification from the Company shall affect the foregoing and the Secondary Indemnitors shall have a right of contribution and/or subrogation
to the extent of such advancement or payment to all of the rights of recovery of Indemnitee against the Company. The Company and Indemnitee agree that the Secondary Indemnitors are express third party beneficiaries of the terms of this provision.

 17. Certain Definitions. 

(a) “Agent” shall mean any person who is or was, or who has consented to serve as, a director, officer, employee,
agent, fiduciary, joint venturer, partner, manager or other official of the Corporation or a subsidiary or an affiliate of the Corporation, or any other entity (including without limitation, an employee benefit plan), in each case either at the
request of, for the convenience of, or otherwise to benefit the Corporation or a subsidiary of the Corporation. Any person who is or was serving as a director, officer, employee or agent of a subsidiary of the Corporation shall be deemed to be
serving, or have served, at the request of the Corporation. 
 (b) “Change in Control” shall mean the
occurrence, after the Corporation’s initial public offering, of any of the following: 
 (i) Both
(A) any “person” (as defined below) is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Corporation representing at least twenty percent
(20%) of the total voting power represented by the Corporation’s then outstanding voting securities and (B) the beneficial ownership by such person of securities representing such percentage is not approved by a majority of the
“Continuing Directors” (as defined below); 
 (ii) Any “person” is or becomes the
“beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Corporation 

 

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representing at least fifty percent (50%) of the total voting power represented by the Corporation’s then outstanding voting securities; 

(iii) A change in the composition of the Board of Directors occurs, as a result of which fewer than two-thirds of the
incumbent directors are directors who either (A) had been directors of the Corporation on the “look-back date” (as defined below) (the “Original Directors”) or (B) were elected, or nominated for election,
to the Board of Directors with the affirmative votes of at least a majority in the aggregate of the Original Directors who were still in office at the time of the election or nomination and directors whose election or nomination was previously so
approved (together, the directors referenced in clauses (A) and (B) of this Section 16(b)(iii) shall be referred to as the “Continuing Directors”); 

(iv) The stockholders of the Corporation approve a merger or consolidation of the Corporation with any other corporation,
if such merger or consolidation would result in the voting securities of the Corporation outstanding immediately prior thereto representing (either by remaining outstanding or by being converted into voting securities of the surviving entity) 50% or
less of the total voting power represented by the voting securities of the Corporation or such surviving entity outstanding immediately after such merger or consolidation; or 

(v) The stockholders of the Corporation approve (A) a plan of complete liquidation of the Corporation or (B) an
agreement for the sale or disposition by the Corporation of all or substantially all of the Corporation’s assets. 
 For
purposes of Subsections (i) and (ii) above, the term “person” shall have the same meaning as when used in sections 13(d) and 14(d) of the Exchange Act, but shall exclude (x) a trustee or other fiduciary holding
securities under an employee benefit plan of the Corporation or of a parent or subsidiary of the Corporation or (y) a corporation owned directly or indirectly by the stockholders of the Corporation in substantially the same proportions as their
ownership of the common stock of the Corporation. 
 For purposes of Subsection (iii) above, the term “look-back
date” shall mean the later of (x) the date first written above in the preamble to this Agreement or (y) the date 24 months prior to the date of the event that may constitute a “Change in Control.” 

Any other provision of this Section 17(b) notwithstanding, the term “Change in Control” shall not include a transaction,
if undertaken at the election of the Corporation, the result of which is to sell all or substantially all of the assets of the Corporation to another corporation (the “surviving corporation”); provided that the surviving corporation is
owned directly or indirectly by the stockholders of the Corporation immediately following such transaction in substantially the same proportions as their ownership of the Corporation’s common stock immediately preceding such transaction; and
provided, further, that the surviving corporation expressly assumes this Agreement. 
  

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 (c) “Disinterested Director” shall mean a director of the
Corporation who is not or was not a party to the Proceeding in respect of which indemnification is being sought by Indemnitee. 

(d) “Expenses” shall include all direct and indirect costs (including, without limitation, attorneys’ fees,
retainers, court costs, transcripts, fees of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, all other disbursements or out-of-pocket expenses and reasonable
compensation for time spent by Indemnitee for which Indemnitee is otherwise not compensated by the Corporation or any third party) actually and reasonably incurred in connection with either the investigation, defense, settlement or appeal of a
Proceeding or establishing or enforcing a right to indemnification under this Agreement, applicable law or otherwise; provided, however, that “Expenses” shall not include any Liabilities. 

(e) “Final Adverse Determination” shall mean that a determination that Indemnitee is not entitled to
indemnification shall have been made pursuant to Section 5 hereof and either (1) a final adjudication in the courts of the State of Delaware from which there is no further right of appeal or decision of an arbitrator pursuant to
Section 8(a) hereof shall have denied Indemnitee’s right to indemnification hereunder, or (2) Indemnitee shall have failed to file a complaint in a Delaware court or seek an arbitrator’s award pursuant to Section 8(a) for a
period of one hundred twenty (120) days after the determination made pursuant to Section 5 hereof. 
 (f)
“Independent Legal Counsel” shall mean a law firm or a member of a firm or law professor selected by the Corporation and approved by Indemnitee (which approval shall not be unreasonably withheld) or, if there has been a
Change in Control, selected by Indemnitee and approved by the Corporation (which approval shall not be unreasonably withheld), that neither is presently nor in the past five (5) years has been retained to represent: (i) the Corporation or
any of its subsidiaries or affiliates, or Indemnitee or any corporation of which Indemnitee was or is a director, officer, employee or agent, or any subsidiary or affiliate of such a corporation, in any material matter, or (ii) any other party
to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Legal Counsel” shall not include any person who, under the applicable standards of professional conduct then
prevailing, would have a conflict of interest in representing either the Corporation or Indemnitee in an action to determine Indemnitee’s right to indemnification under this Agreement. 

(g) “Liabilities” shall mean liabilities of any type whatsoever including, but not limited to, any judgments,
fines, Employee Retirement Income Security Act excise taxes and penalties, penalties and amounts paid in settlement (including all interest assessments and other charges paid or payable in connection with or in respect of such judgments, fines,
penalties or amounts paid in settlement) of any Proceeding. 
 (h) “Proceeding” shall mean any
threatened, pending or completed action, claim, suit, arbitration, alternate dispute resolution mechanism, investigation, administrative hearing or any other proceeding whether civil, criminal, administrative or investigative, in which Indemnitee
was, is or will be involved as a party, as a witness or otherwise, that is associated with Indemnitee’s being an Agent of the Corporation. 
  

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 18. Binding Effect; Duration and Scope of Agreement. This Agreement shall be binding
upon the parties hereto and their respective successors and assigns (including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business or assets of the Corporation), spouses, heirs
and personal and legal representatives. This Agreement shall be deemed to be effective as of the commencement date of the Indemnitee’s service as an officer or director of the Corporation and shall continue in effect during the Indemnification
Period, regardless of whether Indemnitee continues to serve as an Agent. 
 19. Severability. If any provision or
provisions of this Agreement (or any portion thereof) shall be held to be invalid, illegal or unenforceable for any reason whatsoever: 

(a) the validity, legality and enforceability of the remaining provisions of this Agreement shall not in any way be affected or impaired
thereby; and 
 (b) to the fullest extent legally possible, the provisions of this Agreement shall be construed so as to give
effect to the intent of any provision held invalid, illegal or unenforceable. 
 20. Governing Law. This Agreement shall
be governed by and construed and enforced in accordance with the laws of the State of Delaware, as applied to contracts between Delaware residents entered into and to be performed entirely within the State of Delaware, without regard to conflict of
laws rules. 
 21. Consent to Jurisdiction. The Corporation and Indemnitee each irrevocably consent to the jurisdiction
of the courts of the State of Delaware for all purposes in connection with any action or proceeding that arises out of or relates to this Agreement and agree that any action instituted under this Agreement shall be brought only in the state courts
of the State of Delaware. 
 22. Entire Agreement. This Agreement represents the entire agreement between the parties
hereto, and there are no other agreements, contracts or understandings between the parties hereto with respect to the subject matter of this Agreement, except as specifically referred to herein or as provided in Section 15 hereof. 

 

 12 

 23. Counterparts. This Agreement may be executed in one or more counterparts, each of
which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same Agreement. 

IN WITNESS WHEREOF, the Corporation has caused this Agreement to be executed by a duly authorized officer and Indemnitee has executed
this Agreement as of the date first above written. 
  

			
	INPHI CORPORATION,
	a Delaware corporation
		
	By	 	  

		
	Its	 	  

	
	INDEMNITEE

			
	
	  

		
	Address:	 	  

		
		 	  

		
		 	  

		 	
		 	
		 	

  

 13Offer letter dated July 14, 2007

 Exhibit 10.4 

 

 

 July 14, 2007 

Mr. Young Sohn 
 Re: Offer of
Employment 
 Dear Young, 
 On
behalf of Inphi Corporation (“Inphi” or the “Company”), we are pleased to offer you full-time employment as CEO in our Westlake Village, CA facility reporting to the Chairman of the Board, subject to the following terms and
conditions. 
 Cash Compensation/Benefits 

Your starting base salary annualized will be $250,000 per year paid on a bi-monthly payroll schedule. 

In addition, you will be eligible for Inphi standard benefits including health, dental, vision, life insurance, vacation and sick leave with an optional
401(k) plan. 
 In the event that Inphi undergoes a corporate transaction and you are subject to involuntary termination, you will receive one
year of benefits and salary coverage. 
 In the event that you are subject to involuntary termination, you will receive one year of benefits
coverage. 
 Inphi Corporation 2393 Townsgate Road, #101 Westlake Village, CA (v) 805.446.5100 (f) 805.446.5191 

 Commuting Allowance 

Inphi recognizes that you will maintain your primary residence in the Bay Area during your employment and commute during the work week to Inphi in
Westlake Village, CA. Inphi will provide a housing allowance of $4,167.67 per month ($50,000 annually) during your employment for a residence in Southern California. All weekly airline costs to travel to and from your home in the Bay Area and
Southern California will be paid by the company. You will provide your own automobile in Southern California and bear those expenses yourself. 

Equity 
 Contingent on approval by
the Company’s Board of Directors, you will receive an incentive stock option package consisting of options to purchase shares of the Company’s Common Stock equal to 2,848,310 shares of common shares subject to Board of Directors
approval. The grant date and option price will be established on the date the Board of Directors grants the options to you pursuant to the Company’s Stock Option/Stock Issuance Plan (the “Plan”). Provided you remain
in the service of the Company (as defined in the Plan), the option will vest four year period with one-fourth (25%) of the shares vesting on the date that is one year after the commencement of your service as an employee of the Company and the
remaining shares vesting in a series of 36 equal monthly installments upon your completion of each month of service thereafter. Any shares purchased pursuant to the option will be subject to a right of first refusal in favor of the Company, and any
shares that you decide to purchase before you become vested in the underlying option shall be subject to repurchase by the Company if your employment with the company terminates. All of the terms discussed above are described in, and your option
shall be governed by the provisions of, the Stock Option/Stock Issuance Plan and the related documentation that you will receive. 
 Subject to
the approval of the Board of Directors, you will be offered accelerated vesting of such shares following your termination after a corporate transaction in a form substantially similar to the form attached to this letter. 

Young, as discussed if there is an acquisition before IPO that incurs substantial dilution to everyone, we will work to increase your equity ownership
but not necessarily all the way up to 6%. The idea here is that the acquisition will increase the value of Inphi such that even with dilution, investors and employees will still retain most of their equity value. 

“At Will” Employment 

Employment with the Company is “at-will”. This means that it is not for any specified period of time and can be terminated by you or by the
Company at any time, with or without advance notice, and for any or no particular reason or cause. It also means that your job duties, title and responsibility and reporting level, compensation and benefits, as well as the Company’s

  

 2 

 
personnel policies and procedures, may be changed with or without notice at any time in the sole discretion of the Company. This “at-will” nature of your employment shall remain
unchanged during your tenure as an employee and may not be changed, except in an express writing signed by you and by the Company’s Chairman of the Board of Directors. 

Full-time Services to The Company 

The Company requires that, as a full-time employee, you devote your full business time, attention, skills and efforts to the tasks and duties of your
position as assigned by the Company. The Company recognizes that you currently have board obligations at ARM Holdings and Cymer as well as providing an advisory role at Panorama Capital. If you wish to request consent to provide services (for any or
no form of compensation) to any other person or business entity while employed by the Company, please contact the Company’s Chairman of the Board of Directors. 

Confidential Information 
 Inphi
was formed on the principles of working hard, doing things the right way and treating each project and customer as the top priority. We expect the highest quality and level of personal commitment from each employee. We are hiring people with the
right skills and qualifications, not based upon any specific knowledge you may have obtained about potential products, clients or industries. For that reason, if you signed a confidentiality agreement with a previous employer, you should read it and
honor it Inphi does not permit the use of trade secret information belonging to others or the violation of any agreements to keep information confidential. You must also sign a confidentiality and proprietary information agreement at the start of
your employment with Inphi, 
 Conditions 

This offer, and any employment pursuant to this offer, is conditioned upon the following: 

 

	•	 	 As required by law, your ability to provide satisfactory documentary proof of your identity and right to work in the United States of America no later
than the third day after you commence working for the Company. 

  

	•	 	 Your signed agreement to, and ongoing compliance with, the terms of the enclosed Proprietary Information and Inventions Agreement without
modification. 

  

	•	 	 Your return of the enclosed copy of this letter, after being signed by you without modification, to the undersigned no later than July 15,
2007, after which time offer will expire. By signing and accepting this offer, you represent and warrant that you are not subject to any pre-existing contractual or other legal obligation with any person, company or business enterprise which may
be an impediment to your employment with, or your 

  

 3 

	 	 
providing services to, the Company, as its employee. If you accept employment, you may not either bring onto Company premises or use in any manner any confidential or proprietary information
developed, used or disclosed to you while you were employed by some other company or entity. 

 Entire Agreement

 If you accept this offer, this letter and the written agreements referenced in this letter shall constitute the complete agreement
between you and the Company with respect to the initial terms and conditions of your employment. Any representations not contained in this letter, or contrary to those contained in this letter (whether written or oral), that may have been made to
you are expressly cancelled and superceded by this offer, Except as otherwise specified in this letter, the terms and conditions of your employment pursuant to this letter may not be changed, except by a writing issued by Human Resources.

 We look forward to you accepting this offer and a mutually rewarding relationship. As with all-important decisions, you should make a
decision concerning this offer based on your own independent investigation and judgment concerning the Company and its future prospects. 
 If
you accept this offer, please date and sign below, on the enclosed copy of this letter and return it to me no later than July 15, 2007. You will be provided with an original copy for you to retain in your records. You should bring your
INS Form I-9 required identification, and proof of authorization to work with you on your first day of employment 
 Your
starting date will be July 16th, 2007 per our
discussions. 
 If you have any questions regarding this offer letter, please feel free to me directly at [REDACTED]. 

Sincerely, 

 

 

 Dado Banatao 

Chairman of the Board 
 I accept the above
offer, and request to begin employment on July 16th, 2007 per our discussion. 
  

			
	Date July 19, 2007	 	
 

		 	Signature

  

 4 

 ADDENDUM 

TO 

STOCK ISSUANCE AGREEMENT 

The following provisions are hereby incorporated into, and are hereby made a part of, that certain Stock Issuance Agreement (the
“Issuance Agreement”) by and between INPHI Corporation (the “Corporation”) and Young Sohn (“Participant”) evidencing the shares of Common Stock purchased on this date by Participant under the Corporation’s 2000
Stock Option/Stock Issuance Plan, and such provisions shall be effective immediately. All capitalized terms in this Addendum, to the extent not otherwise defined herein, shall have the meanings assigned to such terms in the Issuance Agreement.

 INVOLUNTARY TERMINATION FOLLOWING 

CORPORATE TRANSACTION 

1. To the extent the Repurchase Right is assigned to the successor corporation (or parent thereof) in connection with a Corporate
Transaction, no accelerated vesting of the Purchased Shares shall occur upon such Corporate Transaction, and the Repurchase Right shall continue to remain in full force and effect in accordance with the provisions of the Issuance Agreement.
Participant shall, over his or her period of Service following the Corporate Transaction, continue to vest in the Purchased Shares in one or more installments in accordance with the provisions of the Issuance Agreement. However, upon an Involuntary
Termination of Participant’s Service within eighteen (18) months following the Corporate Transaction, the Repurchase Right shall terminate automatically, and all the Purchased Shares shall immediately vest in full at that time. Any
unvested escrow account maintained on Participant’s behalf pursuant to Paragraph D.5 of the Issuance Agreement shall also vest at the time of such Involuntary Termination and shall be paid to Participant promptly thereafter. 

2. For purposes of this Addendum, the following definitions shall be in effect: 

An Involuntary Termination shall mean the termination of Participant’s Service by reason of: 

(a) Participant’s involuntary dismissal or discharge by the Corporation for reasons other than for Misconduct, or

 (b) Participant’s voluntary resignation following (A) a change in
his or her position with the Corporation (or Parent or Subsidiary employing Participant) which materially reduces his or her duties and responsibilities or the level of management to which he or she reports, (B) a reduction in
Participant’s level of compensation (including base salary, fringe benefits and target bonus under any corporate-performance based incentive programs) by more than fifteen percent (15%) or (C) a relocation of Participant’s place
of employment by more than fifty (50) miles, provided and only if such change, reduction or relocation is effected by the Corporation without Participant’s consent. 

Misconduct shall mean the termination of Participant’s Service by reason or Participant’s commission of any act of
fraud, embezzlement or dishonesty, any unauthorized use or disclosure by Participant of confidential information or trade secrets of the Corporation (or any Parent or Subsidiary), or any other intentional misconduct by Participant adversely
affecting the business or affairs of the Corporation (or any Parent or Subsidiary) in a material manner. The foregoing definition shall not be deemed to be inclusive of all the acts or omissions which the Corporation (or any Parent or Subsidiary)
may consider as grounds for the dismissal or discharge of the Participant or any other individual in the Service of the Corporation (or any Parent or Subsidiary). 

IN WITNESS WHEREOF, INPHI Corporation has caused this Addendum to be executed by its duly-authorized officer as of the Effective
Date specified below. 
  

			
	INPHI CORPORATION
		
	By:	 	  

		
	Title:	 	  

EFFECTIVE DATE:
                    ,          

 

 2. 

 [Inphi Corporation] 

June 7, 2010 
 Young Sohn 

<ADDRESS> 
 <ADDRESS> 

Re: Amendment of Offer Letter for Compliance with Section 409A 

Dear Young: 
 This Amendment
(the “Amendment”) amends the terms and conditions of the letter agreement by and between Inphi Corporation (the “Company”) and you dated July 14, 2007 (the “Agreement”) to conform to the requirements of
Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”). 
 Benefits payable under the
Agreement are intended to be exempt from the definition of “nonqualified deferred compensation” under Section 409A in accordance with one or more of the exemptions available thereunder. In this regard, each such payment that is made
in a series of scheduled installments shall be deemed a separate payment for purposes of Section 409A. To the extent that any benefits payable under the Agreement are or become subject to Section 409A due to a failure to qualify for such
an exemption, the Agreement is intended to comply with the applicable requirements of Section 409A and any ambiguities shall be interpreted and administered in a manner consistent with the foregoing statement of intent. 

For purposes of clarification, any severance consisting of salary coverage payable to you under the Agreement shall be payable in
accordance with the Company’s regular payroll schedule commencing at the time of your termination of employment. However, notwithstanding anything to the contrary in the Agreement, if you are a “specified employee” within the meaning
of Section 409A at the time of your termination of employment, then any payment or benefit otherwise due to you on or within the six (6) month period following your termination that is not exempt from Section 409A will accrue during
such six (6) month period and will become payable in a lump sum on the date six (6) months and one (1) day following the date of your termination of employment to the extent such delayed payment is required to avoid a prohibited
distribution under Section 409A. All subsequent payments or benefits, if any, will be payable in accordance with the payment schedule applicable to each payment or benefit. 

Your date of termination of employment for purposes of determining the date that any payment or benefit that is treated as deferred
compensation subject to Section 409A is to be paid or provided (or in determining whether an exemption to such treatment applies), and for purposes of determining whether you are a “specified employee” on the date of termination,
shall be the date on which you have incurred a “separation from service” as defined under Section 409A. 

 Except as otherwise expressly provided herein, to the extent any expense reimbursement or
the provision of any in-kind benefit by the Company is determined to be subject to Section 409A, the amount of any such expenses eligible for reimbursement, or the provision of any in-kind benefit, in one calendar year shall not affect the
expenses eligible for reimbursement in any other taxable year (except for any life-time or other aggregate limitation applicable to medical expenses), in no event shall any expenses be reimbursed after the last day of the calendar year following the
calendar year in which you incurred such expenses, and in no event shall any right to reimbursement or the provision of any in-kind benefit be subject to liquidation or exchange for another benefit. 

Except as amended hereby, all other terms and conditions of the Agreement shall remain in full force and effect. This Amendment and the
Agreement constitute the complete and entire agreement among the parties relating to the subject matter thereof, and there are no prior or contemporaneous oral or written representations, promises or agreements not expressly set forth therein. This
Amendment may not be modified in any respect except by a writing dated and signed by the parties hereto. 
 If you accept the
terms and conditions of this Amendment as set forth above, please sign and date this Amendment and return it to me by June 7, 2010. 
 Best
regards, 
 Inphi Corporation 
  

			
	By:	 	 /s/ John Edmunds

	Name:	 	John Edmunds
	Title:	 	Chief Financial Officer
	Date:	 	June 7, 2010

 Accepted and agreed: 

 

			
	 	 	 /s/ Young Sohn

		 	 Young Sohn

Date: June 7, 2010

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