Document:

exv10w1

EXHIBIT 10.1

EMPLOYMENT AGREEMENT 

     This EMPLOYMENT AGREEMENT (“Agreement”) is entered into as of the 5th day of August, 2011, by
and between Conexant Systems, Inc., a Delaware corporation (the “Company”), and Sailesh Chittipeddi
(the “Executive”).

     WHEREAS, the Executive is currently serving the Company as its President and Chief Operating
Officer pursuant to that certain Employment Agreement between the parties previously entered into
dated April 28, 2008 (as amended, the “Prior Employment Agreement”);

     WHEREAS, the Company desires to promote the Executive to, and the Executive desires to accept
the position of, the President and Chief Executive Officer of the Company;

     WHEREAS, this Agreement shall only become effective at the Effective Date (as defined in
Section 2); and at the Effective Date, this Employment Agreement will replace and supersede any
other previous employment agreements or arrangements (verbal or written) (express or implied)
between the Executive and the Company or any of its Affiliates or predecessors (including, without
limitation, the Prior Employment Agreement), which shall automatically be terminated as of the
Effective Date and shall be of no force or effect from and after the Effective Date; and

     WHEREAS, the parties hereto wish to enter into the arrangements set forth herein with respect
to the terms and conditions of the Executive’s employment with the Company from and after the
Effective Date (as defined in Section 2).

     NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein and
other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

     1. Employment Agreement. On the terms and conditions set forth in this Agreement, the
Company agrees to employ the Executive, and the Executive agrees to be employed by the Company, for
the Employment Period set forth in Section 2 and in the positions and with the duties set forth in
Section 3. Terms used herein with initial capitalization are defined in Section 25.

     2. Term. Unless earlier terminated pursuant to Section 8, the new term of the
Executive’s employment hereunder in the positions referenced under Section 3 will begin as of April
20, 2011 (the “Effective Date”) and will conclude on the first anniversary of the Effective Date
(the “Renewal Date”) (such period, the “Employment Period”); provided that the Employment
Period will automatically be extended for an additional one (1)-year period on the Renewal Date and
each anniversary of the Renewal Date unless either party gives written notice to the other party at
least sixty (60) days before the end of the Employment Period that it does not wish such automatic
one (1) year extension to occur.

     3. Position and Duties. The Executive will serve as the President and Chief Executive
Offer of the Company during the Employment Period. As President and Chief Executive Officer, the
Executive will render executive, policy and other management services to
the Company of the type customarily performed by persons serving in a similar capacity and as

 

 

reasonably determined by the Board of Directors of the Company (“Board”) with regard to the
Executive’s status and position within the Company. The Executive will report directly to the
Board. The Executive will devote the Executive’s reasonable best efforts and full business time to
the performance of his duties hereunder and the advancement of the business and affairs of the
Company during the Employment Period, it being understood that the Executive may, consistent with
the other provisions of this Agreement, pursue other outside interests including but not limited to
the Executive’s devoting time to managing the Executive’s personal investments and to charitable
and community activities.

     4. Place of Performance. During the Employment Period, the Executive’s primary place
of employment and work location will be Newport Beach, California, except for reasonable travel on
Company business and as otherwise consented to by the Executive.

     5. Compensation.

          (a) Base Salary. During the Employment Period, the Company will continue to pay to
the Executive an annual base salary (the “Base Salary”), which, as of the Effective Date, shall be
$400,000. The Base Salary will be reviewed by the Board no less frequently than annually and may
be increased (but not materially decreased) at the discretion of the Board. If the Executive’s
Base Salary is increased, the increased amount will be the Base Salary for the remainder of the
Employment Period. The Base Salary will be payable monthly or in such other installments as will
be consistent with the Company’s payroll procedures in effect from time to time.

          (b) Bonus. During the Employment Period, the Executive will be eligible to earn an
annual performance bonus in an amount determined at the discretion of the Board for each fiscal
year. It is the intention of the parties hereto that the Company shall establish a target bonus
for the Executive with respect to each fiscal year of the Employment Period based upon overall
performance of the Company (calculated based upon the EBITDA of the Company for such fiscal year).
The Executive’s target bonus for the 2011 fiscal year will be as established by the Board prior to
the Effective Date, subject to increase (but not decrease) in the sole discretion of the Board.
The Executive’s target bonus for the 2012 fiscal year shall be eighty percent (80%) of the Base
Salary, subject to the performance targets established by the Board pursuant to this Section
5(b).

     To be eligible for any bonuses, the Executive must be employed by the Company at the time the
bonuses are paid. Any bonus will be paid on or before the 15th day of the
3rd month after the end of the Company’s taxable year.

          (c) Benefits. During the Employment Period, the Executive will be entitled to all
employee benefits and perquisites made available to senior executives of the Company. Nothing
contained in this Agreement will prevent the Company from terminating plans, changing carriers or
effecting modifications in employee benefits coverage for the Executive as long as such
modifications affect all similarly situated employees and/or officers of the Company.

          (d) Vacation; Holidays. During the Employment Period, the Executive will be entitled
to all public holidays observed by the Company. Executive will also be entitled to

-2-

 

five (5) weeks
of vacation per year, which vacation days will be taken at a reasonable time or times and accrue in
accordance with the Company’s policies and practices, subject to the provisions set forth on
Schedule 5(d) attached hereto.

          (e) Withholding Taxes and Other Deductions. To the extent required by law, the
Company will withhold from any payments due to the Executive under this Agreement any applicable
federal, state or local taxes and such other deductions as are prescribed by law.

     6. Expenses. The Executive is expected and is authorized, subject to the business
expense policies as determined by the Company, to incur reasonable expenses in the performance of
the Executive’s duties hereunder, including the costs of entertainment, travel, and similar
business expenses. The Company will promptly reimburse the Executive for all such expenses upon
periodic presentation by the Executive of an accounting of such expenses on terms applicable to
senior executives of the Company.

     7. Confidentiality; Work Product.

          (a) Information. The Executive acknowledges that the information, observations and
data obtained by the Executive concerning the business and affairs of the Company and its
Affiliates and their predecessors during the course of the Executive’s performance of services for,
or employment with, any of the foregoing persons (whether or not compensated for such services) are
the property of the Company and its Affiliates, including information concerning acquisition
opportunities in or reasonably related to the business or industry of the Company or its Affiliates
and their predecessors of which the Executive becomes aware during such period. Therefore, the
Executive agrees that the Executive will not at any time (whether during or after the Employment
Period) disclose to any unauthorized person or, directly or indirectly, use for the Executive’s own
account, any of such information, observations, data or any Work Product (as defined below) or
Copyrightable Work (as defined below) without the Board’s consent, unless and to the extent that
the aforementioned matters become generally known to and available for use by the public other than
as a direct or indirect result of the Executive’s acts or omissions to act or the acts or omissions
to act of other senior or junior management employees of the Company and its Affiliates. The
Executive agrees to deliver to the Company at the termination of the Executive’s employment, or at
any other time the Company may request in writing (whether during or after the Employment Period),
all memoranda, notes, plans, records, reports and other documents, regardless of the format or
media (and copies thereof), relating to the business of the Company and its Affiliates and their
predecessors (including, without limitation, all acquisition prospects, lists and contact
information) which the Executive may then possess or have under the Executive’s control.

          (b) Intellectual Property. The Executive acknowledges that all inventions,
innovations, improvements, developments, methods, designs, analyses, drawings, reports, trade
secrets, know-how, ideas, computer programs, and all similar or related information (whether or not
patentable) that relate to the actual or anticipated business, research and development or existing
or future products or services of the Company or its Affiliates and their predecessors that are
conceived, developed, made or reduced to practice by the Executive while employed by the Company or
any of its predecessors (“Work Product”) belong to the Company, and the
Executive hereby assigns, and agrees to assign, all of the Executive’s rights, title and
interest in and to the Work Product to the Company. Any copyrightable work (“Copyrightable Work”)

-3-

 

prepared in whole or in part by the Executive in the course of the Executive’s work for any of the
foregoing entities will be deemed a “work made for hire” under the copyright laws, and the Company
will own all rights therein. To the extent that it is determined, by any authority having
jurisdiction, that any such Copyrightable Work is not a “work made for hire,” the Executive hereby
assigns and agrees to assign to the Company all of the Executive’s rights, title and interest,
including, without limitation, copyright in and to such Copyrightable Work. The Executive will
promptly disclose such Work Product and Copyrightable Work to the Board and perform all actions
reasonably requested by the Board (whether during or after the Employment Period) to establish and
confirm the Company’s ownership (including, without limitation, assignments, consents, powers of
attorney and other instruments).

          (c) Enforcement. The Executive acknowledges that the restrictions contained in this
Section 7 are reasonable and necessary, in view of the nature of the Company’s business, in order
to protect the legitimate interests of the Company, and that any violation thereof would result in
irreparable injury to the Company. Therefore, the Executive agrees that in the event of a breach
or threatened breach by the Executive of the provisions of this Section 7, the Company may be
entitled to obtain from any court of competent jurisdiction, preliminary or permanent injunctive
relief restraining the Executive from disclosing or using any such confidential information.
Nothing herein will be construed as prohibiting the Company from pursuing any other remedies
available to it for such breach or threatened breach, including, without limitation, recovery of
damages from the Executive.

     8. Termination of Employment. Any termination of the Employment Period by the Company
or the Executive will be communicated by a written Notice of Termination to the other party hereto
in accordance with Section 11. For purposes of this Agreement, a “Notice of Termination” will mean
a notice which will indicate the specific termination provision in this Agreement relied upon, if
any, and will set forth in reasonable detail the facts and circumstances claimed to provide a basis
for termination of the Employment Period if the termination is being effected by the Company for
Cause. Termination of the Employment Period will take effect on the Date of Termination. The
Employment Period will be terminated under the following circumstances:

          (a) Death. The Employment Period will terminate upon the Executive’s death;

          (b) By the Company. The Company may terminate the Employment Period (i) if the
Executive has a Disability, or (ii) with or without Cause;

          (c) By the Executive. The Executive may terminate the Employment Period at any time,
with or without Good Reason; or

          (d) Non-Renewal. The Employment Period may terminate pursuant to the terms of Section
2. If the Employment Period expires due to a notice of non-renewal by the Company to the Executive
and the Executive actually resigns from employment with the Company effective upon the expiration
of the Employment Period, such cessation of the Executive’s employment with the Company will be
treated as a termination of the Employment
Period by the Company without Cause. The expiration of the Employment Period due to a

-4-

 

notice
of non-renewal tendered by the Executive to the Company will be treated as a termination of the
Employment Period by the Executive.

     9. Compensation upon Termination. The Executive’s services as an employee of the
Company must be terminated in order for the Executive to receive any payment or other benefit under
this Section 9. Any change in job title or responsibilities will not constitute a termination of
the Employment Period under this contract, unless Executive terminates the Employment Period for
Good Reason (as described below).

          (a) Death. If the Employment Period terminates as a result of the Executive’s death,
the Company will promptly pay to the Executive’s estate, or as may be directed by the legal
representatives of such estate, after the Date of Termination any accrued but unpaid Base Salary
through the Date of Termination. All other unpaid amounts, if any, which the Executive has accrued
and is entitled to as of the Date of Termination in connection with any fringe benefits or under
any bonus or incentive compensation plan or program of the Company pursuant to Sections 5(b) and
(c) will be paid in accordance with the terms of any such plans or programs. The Company will have
no further obligations to the Executive under this Agreement or otherwise (other than pursuant to
any employee benefit plan and any life insurance, death in service or other equivalent policy for
the benefit of the Executive).

          (b) Disability. If the Company terminates the Employment Period because of the
Executive’s Disability, the Company will promptly pay to the Executive after the Date of
Termination any accrued but unpaid Base Salary through the Date of Termination. All other unpaid
amounts, if any, which the Executive has accrued and is entitled to as of the Date of Termination
in connection with any fringe benefits or under any bonus or incentive compensation plan or program
of the Company pursuant to Sections 5(b) and (c) will be paid in accordance with the terms of any
such plans or programs. In addition, if the Company terminates the Employment Period because of
the Executive’s Disability, then the Executive will be entitled to the cash payment referred to in
clause (iii) of Section 9(e). The Company will have no further obligations to the Executive under
this Agreement or otherwise (other than pursuant to any employee benefit plan and any disability or
other medical insurance policy for the benefit of the Executive).

          (c) By the Company for Cause; By the Executive Without Good Reason. If the Company
terminates the Employment Period for Cause or if the Executive terminates the Employment Period
without Good Reason, the Company will promptly pay to the Executive after the Date of Termination
any accrued but unpaid Base Salary through the Date of Termination. All other unpaid amounts, if
any, which the Executive has accrued and is entitled to as of the Date of Termination in connection
with any fringe benefits or under any bonus or incentive compensation plan or program of the
Company pursuant to Sections 5(b) and (c) will be paid in accordance with the terms of any such
plans or programs.

     Other than as set forth in this Section 9(c), the Company will have no further obligations to
the Executive under this Agreement or otherwise (other than pursuant to any employee benefit plan).

          (d) By the Company Without Cause; By the Executive for Good Reason. If the Company
terminates the Employment Period other than for Cause, Disability or death, or if

-5-

 

the Executive
terminates the Employment Period for Good Reason, the Executive will be entitled to the Separation
Benefits (as defined in Section 9(e)). Other than as set forth herein, the Company will have no
further obligations to the Executive under this Agreement or otherwise (other than pursuant to any
employee benefit plan).

     As an express condition precedent to Executive receiving any Separation Benefits under this
Section 9, Executive must execute and not revoke a unilateral general release of claims in a form
satisfactory to the Company within sixty (60) calendar days of the Date of Termination. Nothing in
this Section 9(d) will be deemed to operate or will operate as a release, settlement or discharge
of any liability of the Executive to the Company or others for any action or omission by the
Executive, including without limitation any actions which formed, or could have formed, the basis
for termination of the Executive’s employment for Cause.

          (e) Separation Benefits. For purposes of this Agreement, “Separation Benefits” will
mean payment by the Company to the Executive of a cash lump sum equal to the sum of (i) $400,000;
plus (ii) an amount equal to (A) if the Date of Termination occurs prior to the end of the
Company’s 2012 fiscal year, the pro-rata portion of Executive’s target bonus for the fiscal year in
which the Date of Termination occurs (i.e., such amount shall be equal to the product of (x)
$320,000 times (y) a fraction, the numerator of which is the number of days Executive has been
employed by the Company in such fiscal year and the denominator of which is 365), or (B) if the
Date of Termination occurs after the end of the Company’s 2012 fiscal year, the pro-rata portion of
Executive’s actual bonus paid by the Company for the fiscal year immediately preceding the fiscal
year in which the Date of Termination occurs (i.e., such amount shall be equal to the product of
(x) 100% of Executive’s actual bonus paid by the Company for the fiscal year immediately preceding
the fiscal year in which the Date of Termination occurs, times (y) a fraction, the numerator of
which is the number of days Executive has been employed by the Company in such fiscal year and the
denominator of which is 365); plus (iii) $25,000; plus (iv) any accrued but unpaid Base Salary
through the Date of Termination and all other unpaid amounts, if any, which the Executive has
accrued and is entitled to as of the Date of Termination. Any cash payment pursuant to this
Section 9(e) will be made by the Company on the 60th day following the Date of Termination.

          (f) Damages. The Executive agrees that, except for such other payments and benefits
to which the Executive may be entitled as expressly provided by the terms of this Agreement or any
applicable Company plan, such amounts will be in lieu of all other claims for damages that the
Executive may make with respect to the termination of the Executive’s employment, the Employment
Period or any such breach of this Agreement. In no event will the Executive be obligated to seek
other employment or take any other action by way of mitigation of the amounts payable to the
Executive under any of the provisions of this Agreement, and such amounts will not be reduced
whether or not the Executive obtains other employment.

     10. Noncompetition and Nonsolicitation.

          (a) Noncompetition. THIS SECTION 10(a) WILL HAVE NO FORCE OR EFFECT, AND WILL NOT BE
DEEMED A PART OF THIS AGREEMENT, DURING ANY AND ALL PERIODS IN WHICH THE EXECUTIVE PERFORMS
SERVICES AS AN
EMPLOYEE OF THE COMPANY PRINCIPALLY IN THE STATE OF CALIFORNIA, BUT WILL BECOME IMMEDIATELY
EFFECTIVE IF AND TO THE EXTENT THE

-6-

 

EXECUTIVE PERFORMS SERVICES AS AN EMPLOYEE OF THE COMPANY
PRINCIPALLY IN A JURISDICTION OTHER THAN THE STATE OF CALIFORNIA. The Executive and the Company
jointly acknowledge that Executive’s initial and principal place of employment is Newport Beach,
California, and therefore, this section 10 (a) is NOT in force and effect on the Effective Date.
However, the Executive further acknowledges that in the course of the Executive’s employment with
the Company and its Affiliates and their predecessors, the Executive has and will continue to
become familiar with the trade secrets of, and other confidential information concerning, the
Company and its Affiliates and their predecessors, that the Executive’s services will be of
special, unique and extraordinary value to the Company and its Affiliates and that the Company’s
ability to accomplish its purposes and to successfully pursue its business plan and compete in the
marketplace depends substantially on the skills and expertise of the Executive. Therefore, and in
further consideration of the compensation being paid to the Executive hereunder, the Executive
agrees that if his principal place of employment becomes a state other than California, then during
the Employment Period and for a period of twelve (12) months following the termination of the
Employment Period for any reason (the “Restricted Period”), the Executive will not directly or
indirectly own, manage, control, participate in, consult with, render services for, or in any
manner engage in any business competing with the businesses of the Company or its Affiliates, in
any country where the Company or its Affiliates conducts business; provided,
however, that passive investments amounting to no more than three percent (3%) of the
voting equity of a business and the Executive’s other current positions and activities described in
Section 3 will not be prohibited hereby.

          (b) Nonsolicitation. Executive agrees that, during the Employment Period and for a
period of twelve (12) months following the termination of the Employment Period for any reason, the
Executive will not directly or indirectly (i) induce or attempt to induce any employee of the
Company or any Affiliate or any portfolio company of Golden Gate Capital to leave the employ of the
Company or such Affiliate or such portfolio company of Golden Gate Capital, hire or attempt to hire
any employee of the Company or any Affiliate or any portfolio company of Golden Gate Capital or in
any way willfully interfere with the relationship between the Company or any Affiliate or any
portfolio company of Golden Gate Capital and any employee thereof, or (ii) induce or attempt to
induce any customer, supplier, licensee or other business relation of the Company or any Affiliate
or any portfolio company of Golden Gate Capital to cease doing business with the Company or such
Affiliate or such portfolio company of Golden Gate Capital, or in any way interfere with the
relationship between any such customer, supplier, licensee or business relation and the Company or
any Affiliate or any portfolio company of Golden Gate Capital.

          (c) Enforcement. If, at the time of enforcement of this Section 10, a court holds
that the restrictions stated herein are unreasonable under circumstances then existing, the parties
hereto agree that the maximum duration, scope or geographical area reasonable under such
circumstances will be substituted for the stated period, scope or area and that the court will be
allowed to revise the restrictions contained herein to cover the maximum duration, scope and area
permitted by law. If the provisions of this Section 10 will be deemed illegal by any jurisdiction,
the provisions in this Section 10 will be deemed ineffective within such jurisdiction.
Because the Executive’s services are unique and because the Executive has access to
confidential information, the parties hereto agree that money damages would be an inadequate remedy
for

-7-

 

any breach of any provision of this Agreement. Therefore, in the event of a breach or
threatened breach by the Executive of any provision of this Agreement, the Company may, in addition
to other rights and remedies existing in its favor, apply to any court of competent jurisdiction
for specific performance and/or injunctive or other relief in order to enforce, or prevent any
violations of, the provisions hereof (without posting a bond or other security).

     11. Notices. All notices, demands, requests or other communications required or
permitted to be given or made hereunder will be in writing and will be delivered, telecopied or
mailed by first class registered or certified mail, postage prepaid, addressed as follows:

          (a) If to the Company:

Conexant Systems, Inc

4000 MacArthur Boulevard, West Tower

Newport Beach, CA 92660

Fax: (949) 483-9475

Attention: Sharon Johur, Executive Director of Human Resources

with a copy to:

Golden Gate Capital

One Embarcadero Center, 39th Floor

San Francisco, CA 94111

Fax: (415) 983-2701

Attention: John Knoll

          (b) If to the Executive:

at the address on the books and records of the Company at the time of such notice, or to such other
address as may be designated by either party in a notice to the other. Each notice, demand,
request or other communication that will be given or made in the manner described above will be
deemed sufficiently given or made for all purposes three (3) days after it is deposited in the U.S.
mail, postage prepaid, or at such time as it is delivered to the addressee (with the return
receipt, the delivery receipt, the answer back or the affidavit of messenger being deemed
conclusive evidence of such delivery) or at such time as delivery is refused by the addressee upon
presentation.

     12. Severability. The invalidity or unenforceability of any one or more provisions of
this Agreement will not affect the validity or enforceability of the other provisions of this
Agreement, which will remain in full force and effect.

     13. Survival. It is the express intention and agreement of the parties hereto that
the provisions of Sections 7, 9, 10, 11, and 22 will survive the termination of employment of the
Executive. In addition, all obligations of the Company to make payments hereunder will survive any
termination of this Agreement on the terms and conditions set forth herein.

     14. Assignment. The rights and obligations of the parties to this Agreement will not
be assignable or delegable, except that (i) in the event of the Executive’s death, the personal

-8-

 

representative or legatees or distributees of the Executive’s estate, as the case may be, will have
the right to receive any amount owing and unpaid to the Executive hereunder, and (ii) the rights
and obligations of the Company hereunder will be assignable and delegable in connection with any
merger, consolidation or sale of all or substantially all of the assets of the Company and any
similar event with respect to any successor corporation. Notwithstanding anything herein to the
contrary, the rights and obligations of the Company hereunder will inure to the benefit of, and
will be binding upon, any successor to the Company or its business by merger or otherwise, whether
or not there is an express assignment, delegation or assumption of such rights and obligations.

     15. Binding Effect. Subject to any provisions hereof restricting assignment, this
Agreement will be binding upon the parties hereto and will inure to the benefit of the parties and
their respective heirs, devisees, executors, administrators, legal representatives, successors and
assigns.

     16. Amendment; Waiver. This Agreement will not be amended, altered or modified except
by an instrument in writing duly executed by the parties hereto. No waiver by either of the
parties hereto of a breach of or a default under any of the provisions of this Agreement will
thereafter be construed as a waiver of any subsequent breach or default of a similar nature. The
failure of either of the parties, on one or more occasions, to enforce any of the provisions of
this Agreement or to exercise any right or privilege hereunder will not be construed as a waiver of
any such provisions, rights or privileges hereunder, or a waiver of any subsequent breach or
default of a similar nature.

     17. Headings. Section and subsection headings contained in this Agreement are
inserted for convenience of reference only, will not be deemed to be a part of this Agreement for
any purpose, and will not in any way define or affect the meaning, construction or scope of any of
the provisions hereof.

     18. Governing Law. This Agreement, the rights and obligations of the parties hereto,
and any claims or disputes relating thereto, will be governed by and construed in accordance with
the laws of the State of California (but not including the choice of law rules thereof).

     19. Entire Agreement. This Agreement constitutes the entire agreement between the
parties respecting the employment of the Executive. There being no representations, warranties or
commitments between the parties except as set forth herein, this Agreement replaces and supersedes
any other employment or equity agreements or arrangements, oral or written (including, without
limitation, the Prior Employment Agreement), between the Executive and the Company or any of its
Affiliates or predecessors.

     20. Effective Date. This Agreement will become biding once both parties hereto have
executed this Agreement. Once executed, this Agreement will be effective as of the date hereof.

     21. Counterparts. This Agreement may be executed in two or more counterparts, each of
which will be an original and all of which will be deemed to constitute one and the same
instrument.

-9-

 

     22. Legal Expenses. The Company will pay or reimburse the Executive (up to $2,500)
for reasonable attorneys’ fees incurred by the Executive in connection with the negotiation of this
Agreement and the Executive’s commencement of employment hereunder. Any such reimbursement will be
made no later than the calendar year following the year in which such expense was incurred.

     23. Attorneys’ Fees. If either party sues the other to enforce any of the terms of
this Agreement, the prevailing party (as determined by a court of competent jurisdiction in a
final, non-appealable order) shall, in addition to all other damages, be entitled to recover its
reasonable, out-of-pocket costs and attorneys’ fees.

     24. Executive’s Cooperation. During the Employment Period and thereafter, the
Executive shall cooperate with the Company and its subsidiaries in any internal investigation, any
administrative, regulatory or judicial investigation or proceeding or any dispute with a third
party as reasonably requested by the Company (including, without limitation, the Executive being
available to the Company upon reasonable notice for interviews and factual investigations,
appearing at the Company’s request to give testimony without requiring service of a subpoena or
other legal process, volunteering to the Company all pertinent information and turning over to the
Company all relevant documents which are or may come into the Executive’s possession, all at times
and on schedules that are reasonably consistent with the Executive’s other permitted activities and
commitments). In the event the Company requires the Executive’s cooperation in accordance with this
Section, the Company shall reimburse the Executive solely for reasonable travel expenses (including
lodging and meals) upon submission of receipts.

     25. Provisions Regarding Code Section 409A.

          (a) Six-Month Wait for Key Employees Under Separation from Service. Notwithstanding
anything to the contrary in this Agreement, if the Executive is a “specified employee” within the
meaning of Section 409A of the Internal Revenue Code of 1986, as amended and any final regulations
and guidance promulgated thereunder (“Section 409A”) at the time of the Executive’s termination,
then the severance and benefits payable to the Executive pursuant to this Agreement (other than due
to death), if any, and any other severance payments or separation benefits which may be considered
deferred compensation under Section 409A (together, the “Deferred Compensation Separation
Benefits”), which are otherwise due to the Executive on or within the six (6) month period
following the Executive’s termination will accrue during such six (6) month period and will become
payable in a lump sum payment on the date six (6) months and one (1) day following the date of the
Executive’s termination of employment or the date of death, if earlier. All subsequent Deferred
Compensation Separation Benefits, if any, will be payable in accordance with the payment schedule
applicable to each payment or benefit.

          (b) Necessary Amendments Due to Code Section 409A. The intent of the parties is that
payments and benefits under this Agreement comply with Section 409A and the regulations and
guidance promulgated thereunder and, accordingly, to the maximum extent permitted, this Agreement
shall be interpreted to be in compliance therewith. In no event whatsoever shall the Company be
liable for any additional tax, interest or penalty that may be imposed on the Executive by Code
Section 409A or damages for failing to comply with Section 409A. Notwithstanding anything in this
Agreement to the contrary, in the event that

-10-

 

amendments to this Agreement are necessary in order to comply with future guidance or
interpretations under Section 409A, including amendments necessary to ensure that compensation will
not be subject to Section 409A, the Executive agrees that the Company will be permitted to make
such amendments, on a prospective and/or retroactive basis, in its sole discretion, provided that
it has first negotiated with the Executive on a good faith basis to construct an amendment that
would be mutually satisfactory to the parties hereto.

          (c) Separation from Service. A termination of employment shall not be deemed to have
occurred for purposes of any provision of this Agreement providing for the payment of any amounts
or benefits upon or following a termination of employment unless such termination is also a
“separation from service” within the meaning of Section 409A and, for purposes of any such
provision of this Agreement, references to a “termination,” “termination of employment” or like
terms shall mean “separation from service.”

          (d) Offset Limitation. Notwithstanding any other provision to the contrary, in no
event shall any payment under this Agreement that constitutes “deferred compensation” for purposes
of Section 409A be subject to offset by any other amount unless otherwise permitted by Section
409A.

     26. Definitions.

     “Affiliate” means any entity from time to time designated by the Board and any other
entity directly or indirectly controlling or controlled by or under common control with the
Company. For purposes of this definition: “control” means the power to direct the management and
policies of such entity, whether through the ownership of voting securities, by contract or
otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing.

     “Board” means the board of directors of the Company.

     “Cause” means: (i) the Executive’s indictment or conviction of or entering into a plea
of guilty or no contest in a court of competent jurisdiction to a felony or a crime involving moral
turpitude, or the intentional commission of any other material act or material omission involving
dishonesty or fraud that is materially injurious to the Company or any of its Affiliates; (ii) the
Executive’s willful, substantial and repeated failure to perform duties of the office(s) held by
the Executive, as reasonably directed by the Board, if such failure is not cured within thirty (30)
days after the Executive receives written notice thereof; (iii) gross negligence or willful
misconduct in the performance of the Executive’s duties which materially injures the Company or its
reputation; or (iv) the Executive’s willful and material breach of the material covenants of this
Agreement.

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

     “Date of Termination” means: (i) if the Executive’s employment is terminated by the
Executive’s death, the date of the Executive’s death; (ii) if the Executive’s employment is
terminated because of the Executive’s Disability, thirty (30) days after Notice of Termination,
provided that the Executive will not have returned to the performance of the Executive’s duties on
a full-time basis during such thirty (30)-day period; (iii) if the Executive’s employment is

-11-

 

terminated by the Company for Cause, the date specified in the Notice of Termination; (iv) if
the Executive’s employment is terminated during the Employment Period for any other reason, the
date specified in the Notice of Termination; or (v) if the Executive’s employment is terminated due
to the non-renewal of the Employment Period in accordance with Section 2 hereof, the date on which
the Employment Period expires by its terms.

     “Disability” means: as provided under Section 409A(a)(2)(C) and Treasury regulation
1.409A-3(i)(4) and other official guidance issued thereunder, that Executive (i) is unable to
engage in any substantial gainful activity by reason of any medically determinable physical or
mental impairment which can be expected to result in death or can be expected to last for a
continuous period of not less than twelve (12) months, or (ii) is, by reason of any medically
determinable physical or mental impairment, which can be expected to last for a continuous period
of not less than twelve (12) months, receiving income replacement benefits for a period of not less
than three (3) months under an accident and health plan covering Company employees.
Notwithstanding, Executive shall be deemed Disabled if he is determined to be totally disabled by
the United States Social Security Administration or by the then-current disability insurance
program of the Company; provided that, the definition of disability applied under such disability
insurance program complies with the requirements of Section 409A and the applicable Treasury
regulations and other official guidance issued thereunder.

     “Good Reason” means: (i) a material reduction of Executive’s authorities, duties or
responsibilities as President and Chief Executive Officer; (ii) a requirement that Executive
relocate his full-time residence outside of Orange County without Executive’s consent; (iii) any
reduction by the Company in Executive’s base salary or bonus targets as in effect on the date
hereof, or (iv) any other material breach of this Agreement by the Company; provided, in
each case, that (1) Executive has given written notice of such Good Reason condition within 90 days
of the initial existence of the condition; (2) the Company has not remedied such condition within
30 days of such notice; and (3) Executive’s termination occurs within 120 days of the initial
existence of the condition

{Signature page follows.}

-12-

 

     IN WITNESS WHEREOF, the undersigned have duly executed this Agreement, or have caused this
Agreement to be duly executed on their behalf, as of the day and year first hereinabove written.

	 	 	 	 	 
	 	Very truly yours,

CONEXANT SYSTEMS, INC.

 	 
	 	By:  	/s/ John Knoll
 	 
	 	 	Name:  	John Knoll 	 
	 	 	Title:  	Authorized Signatory 	 
	 

	 	 	 	 	 
	 	SAILESH CHITTIPEDDI

 	 
	 	/s/ Sailesh Chittipeddiexv10w2

EXHIBIT 10.2

INDEMNIFICATION AGREEMENT

     This INDEMNIFICATION AGREEMENT (this “Agreement”) is made and entered into as of
August 5, 2011, by and between Conexant Holdings, Inc., a Delaware corporation (the
“Company”), and Sailesh Chittipeddi (“Indemnitee”). Except as otherwise indicated
herein, capitalized terms used herein are defined in Section 13.

     WHEREAS, in order to serve corporations as directors, officers or in other capacities, highly
competent individuals may require protection, through insurance and/or adequate indemnification,
against inordinate risks of claims and actions arising out of their service to and activities on
behalf of the corporation;

     WHEREAS, Article Eleven of the Amended and Restated Certification of Incorporation of the
Company, dated as of May 2, 2011, (as the same may be amended from time to time in accordance with
its terms, the “Certificate of Incorporation”), and Article V of the Amended and Restated
By-laws of the Company, dated as of May 2, 2011 (as the same may be amended from time to time in
accordance with its terms, the “Bylaws”), each provide that the indemnification provided to
directors and officers of the Company thereunder shall not be exclusive of other indemnification
rights arising under any agreement or the Delaware General Corporation Law (as it may be amended
from time to time, and any successor legislation, the “DGCL”);

     WHEREAS, the Board of Directors of the Company (the “Board”) has determined that any
difficulty in attracting and retaining qualified individuals due to a lack of adequate protection
is detrimental to the best interests of the Company’s stockholders and that the Company should act
to assure such individuals that there will be increased certainty of such protection in the future;

     WHEREAS, it is reasonable, prudent and necessary for the Company contractually to obligate
itself to indemnify, and to advance expenses on behalf of, such individuals to the fullest extent
permitted by applicable law so that they will serve or continue to serve the Company free from
undue concern that they will not be so indemnified;

     WHEREAS, this Agreement is a supplement to and in furtherance of the Certificate of
Incorporation, the Bylaws and any resolutions adopted pursuant thereto, and shall not be deemed a
substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder; and

     WHEREAS, Indemnitee is willing to serve, continue to serve and to take on additional service
for or on behalf of the Company on the condition that Indemnitee be provided adequate protection
with respect to indemnification.

     NOW, THEREFORE, in consideration of Indemnitee’s agreement to serve as a director and/or
officer of the Company from and after the date hereof, the parties agree as follows:

     1. Indemnity of Indemnitee. The Company shall hold harmless and indemnify Indemnitee
to the fullest extent permitted by applicable law, as such may be amended from time to time. In
furtherance of the foregoing indemnification, and without limiting the generality thereof:

          (a) Proceedings Other Than Proceedings by the Company. Indemnitee shall be entitled
to the rights of indemnification provided in this Section 1(a) if, by reason of his Company
Status, Indemnitee is, or is threatened to be made, a party to or participant in any Proceeding
other than a

 

 

Proceeding by the Company. Pursuant to this Section 1(a), Indemnitee shall be
indemnified against all judgments, penalties, fines and amounts paid in settlement and Expenses
actually and reasonably incurred by Indemnitee, or on Indemnitee’s behalf, in connection with such
Proceeding or any claim, issue or matter therein, 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 Company, and to
the extent incurred in connection with any criminal Proceeding, had no reasonable cause to believe
Indemnitee’s conduct was unlawful.

          (b) Proceedings by the Company. Indemnitee shall be entitled to the rights of
indemnification provided in this Section 1(b) if, by reason of his Company Status,
Indemnitee is, or is threatened to be made, a party to or participant in any Proceeding brought by
the Company or in the right of the Company. Pursuant to this Section 1(b), Indemnitee
shall be indemnified against all Expenses actually and reasonably incurred by Indemnitee, or on
Indemnitee’s behalf, 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 Company;
provided, however, that if applicable law so provides, no indemnification against such
Expenses shall be made in respect of any claim, issue or matter in such Proceeding as to which
Indemnitee shall have been adjudged to be liable to the Company unless and to the extent that the
Court of Chancery of the State of Delaware, the United States District Court for the Northern
District of California or the state courts of the State of California in the County of San
Francisco shall determine that such indemnification may be made.

     2. Additional Indemnity. In addition to, and without regard to any limitations on,
the indemnification provided for in Section 1 of this Agreement, the Company shall and
hereby does indemnify and hold harmless Indemnitee against all judgments, penalties, fines, amounts
paid in settlement and Expenses actually and reasonably incurred by Indemnitee, or on Indemnitee’s
behalf, if, by reason of his Company Status, Indemnitee is, or is threatened to be made, a party to
or participant in any Proceeding (including a Proceeding by the Company), including, without
limitation, all liability arising out of the negligence or active or passive wrongdoing of
Indemnitee. The only limitation that shall exist upon the Company’s obligations pursuant to this
Agreement shall be that the Company shall not be obligated to make any payment to Indemnitee that
is finally determined (under the procedures, and subject to the presumptions, set forth in
Sections 6 and 7) to be unlawful.

     3. Contribution.

          (a) Whether or not the indemnification provided in Sections 1 and 2 is
available, in respect of any Proceeding in which the Company is jointly liable with Indemnitee (or
would be if joined in such Proceeding), the Company shall pay, in the first instance, the entire
amount of any judgment or settlement of such Proceeding without requiring Indemnitee to contribute
to such payment and the Company hereby irrevocably waives and relinquishes any right of
contribution it may have against Indemnitee. The Company shall not enter into any settlement of
any Proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in
such Proceeding) unless such settlement provides for a full and final release of all claims
asserted against Indemnitee.

          (b) Without diminishing or impairing the obligations of the Company set forth in Section
3(a), if, for any reason, Indemnitee shall elect or be required to pay all or any portion of
any judgment or settlement in any Proceeding in which the Company is jointly liable with Indemnitee
(or would be if joined in such Proceeding), the Company shall contribute to the amount of
judgments, fines, amounts paid in settlement and Expenses actually and reasonably incurred and paid
or payable by Indemnitee in proportion to the relative benefits received by the Company and all
officers, directors or employees of the Company, other than Indemnitee, who are jointly liable with
Indemnitee (or would be if joined in such Proceeding), on the one hand, and Indemnitee, on the
other hand, from the transaction from which such Proceeding arose; provided, however, that
the proportion determined on the basis of relative

2

 

benefit may, to the extent necessary to conform to law, be further adjusted by reference to
the relative fault of the Company and all officers, directors or employees of the Company other
than Indemnitee who are jointly liable with Indemnitee (or would be if joined in such Proceeding),
on the one hand, and Indemnitee, on the other hand, in connection with the events that resulted in
such judgments, fines, settlement amounts or Expenses, as well as any other equitable
considerations which applicable law may require to be considered. The relative fault of the
Company and all officers, directors or employees of the Company, other than Indemnitee, who are
jointly liable with Indemnitee (or would be if joined in such Proceeding), on the one hand, and
Indemnitee, on the other hand, shall be determined by reference to, among other things, the degree
to which their actions were motivated by intent to gain personal profit or advantage, the degree to
which their liability is primary or secondary and the degree to which their conduct is active or
passive.

          (c) The Company hereby agrees to fully indemnify and hold Indemnitee harmless from any claims
of contribution which may be brought by directors, officers, employees or other agents or
representatives of the Company, other than Indemnitee, who may be jointly liable with Indemnitee.

          (d) 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 Company, 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 Company 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 Company (and its directors, officers, employees, agents and representatives)
and Indemnitee in connection with such event(s) and/or transaction(s).

     4. Indemnification for Expenses of a Witness. Notwithstanding any other provision of
this Agreement, to the extent that Indemnitee is, by reason of his Company Status, a witness, or is
made (or asked to) respond to discovery requests, in any Proceeding to which Indemnitee is not a
party, Indemnitee shall be indemnified against all Expenses actually and reasonably incurred by him
or on his behalf in connection therewith.

     5. Advancement of Expenses. The Company shall advance all Expenses indemnifiable
hereunder that are incurred by or on behalf of Indemnitee in connection with any Proceeding by
reason of Indemnitee’s Company Status within thirty (30) days after the receipt by the Company of a
statement or statements from Indemnitee requesting such advance or advances from time to time,
whether prior to or after final disposition of such Proceeding. Such statement or statements shall
reasonably evidence the Expenses incurred by Indemnitee and shall include or be preceded or
accompanied by a written undertaking by or on behalf of Indemnitee to repay any Expenses advanced
if it shall ultimately be determined that Indemnitee is not entitled to be indemnified against such
Expenses. Any advances and undertakings to repay pursuant to this Section 5 shall be
unsecured and interest free.

     6. Procedures and Presumptions for Determination of Entitlement to Indemnification.
It is the intent of this Agreement to secure for Indemnitee rights of indemnity that are as
favorable as may be permitted under the DGCL and public policy of the State of Delaware.
Accordingly, the parties agree that the following procedures and presumptions shall apply in the
event of any question as to whether Indemnitee is entitled to indemnification under this Agreement:

          (a) To obtain indemnification under this Agreement, Indemnitee shall submit to the Secretary
of the Company (or, if the office of the Secretary is vacant or the Indemnitee is the Secretary,

3

 

the then highest-ranking officer of the Company) a written request, including therein or
therewith such documentation and information as is reasonably available to Indemnitee and is
reasonably necessary to determine whether and to what extent Indemnitee is entitled to
indemnification. The Secretary of the Company shall, promptly upon receipt of such a request for
indemnification, advise the Board in writing that Indemnitee has requested indemnification.
Notwithstanding the foregoing, any failure of Indemnitee to provide such a request to the Company,
or to provide such a request in a timely fashion, shall not relieve the Company of any liability
that it may have to Indemnitee unless, and to the extent that, such failure or delay actually and
materially prejudices the interests of the Company.

          (b) Upon written request by Indemnitee for indemnification pursuant to the first sentence of
Section 6(a), a determination with respect to Indemnitee’s entitlement thereto shall be
made in the specific case by one of the following four (4) methods, as determined by the Board:
(1) by a majority vote of the Disinterested Directors, even though less than a quorum, (2) by a
committee of Disinterested Directors designated by a majority vote of the Disinterested Directors,
even though less than a quorum, (3) if there are no Disinterested Directors or if the Disinterested
Directors so direct, by Independent Counsel in a written opinion to the Board, a copy of which
shall be delivered to Indemnitee, or (4) if so directed by the Board, by the voting stockholders of
the Company; provided that from and after the date that a Change of Control occurs, a
determination with respect to Indemnitee’s entitlement thereto shall be made in the specific case
by Independent Counsel selected by Indemnitee and approved in writing by the representative of the
sellers arising from such Change of Control and by the Company (which approval shall not be
unreasonably withheld) in a written opinion to the Board, a copy of which shall be delivered to
Indemnitee.

          (c) If the determination of entitlement to indemnification is to be made by Independent
Counsel pursuant to clause (3) of Section 6(b) (and not the proviso thereof), the
Independent Counsel shall be selected by the Board in accordance with the procedures set forth in
this Section 6(c). The Company shall give Indemnitee written notice of the Independent
Counsel selected by the Board. Indemnitee may, within ten (10) days after such written notice,
deliver to the Company a written objection to such selection; provided, however, that such
objection may be asserted only on the ground that the Independent Counsel so selected does not meet
the requirements of “Independent Counsel” as defined in Section 13, and the objection shall
set forth with particularity the factual basis of such assertion. Absent a proper and timely
objection, the person identified in the Board’s notice to Indemnitee shall act as Independent
Counsel. If a written objection is made and substantiated, the Independent Counsel selected may
not serve as Independent Counsel unless and until such objection is withdrawn or a court has
determined that such objection is without merit. If, within twenty (20) days after submission by
Indemnitee of a written request for indemnification pursuant to Section 6(a), no
Independent Counsel shall have been selected and not objected to, either the Company or Indemnitee
may petition the Court of Chancery of the State of Delaware or other court of competent
jurisdiction for resolution of any objection which shall have been made by Indemnitee to the
Company’s selection of Independent Counsel and/or for the appointment as Independent Counsel of a
person selected by the court or by such other person as the court shall designate, and the person
with respect to whom all objections are so resolved or the person so appointed shall act as
Independent Counsel under Section 6(b). The Company shall pay any and all reasonable fees
and expenses of Independent Counsel incurred by such Independent Counsel in connection with acting
pursuant to Section 6(b), and the Company shall pay all reasonable fees and expenses
incident to the procedures of this Section 6(c), regardless of the manner in which such
Independent Counsel was selected or appointed.

          (d) In making a determination with respect to entitlement to indemnification hereunder, the
person or persons or entity making such determination shall presume that Indemnitee is entitled to
indemnification under this Agreement. Anyone seeking to overcome this presumption shall have the
burden of proof and the burden of persuasion by clear and convincing evidence. Neither the

4

 

failure of the Company (including by its directors or Independent Counsel) to have made a
determination prior to the commencement of any action pursuant to this Agreement that
indemnification is proper in the circumstances because Indemnitee has met the applicable standard
of conduct, nor an actual determination by the Company (including by its directors or Independent
Counsel) that Indemnitee has not met such applicable standard of conduct, shall be a defense to the
action or create a presumption that Indemnitee has not met the applicable standard of conduct.

          (e) Indemnitee shall be deemed to have acted in good faith if Indemnitee’s action is based on
the records or books of account of the Enterprise, including financial statements, or on
information supplied to Indemnitee by the directors, managers, officers, employees, agents or
representatives of the Enterprise in the course of their duties, or on the advice of legal counsel
for the Enterprise or on information or records given or reports made to the Enterprise by an
independent certified public accountant or by an appraiser or other expert or advisor selected by
the Enterprise. In addition, the knowledge and/or actions, or failure to act, of any director,
manager, officer, employee, agent or representative of the Enterprise shall not be imputed to
Indemnitee for purposes of determining the right to indemnification under this Agreement. Whether
or not the foregoing provisions of this Section 6(e) are satisfied, it shall in any event
be presumed that Indemnitee has at all times acted in good faith and in a manner Indemnitee
reasonably believed to be in or not opposed to the best interests of the Company. Anyone seeking
to overcome this presumption shall have the burden of proof and the burden of persuasion by clear
and convincing evidence.

          (f) If the person, persons or entity empowered or selected under Section 6 to
determine whether Indemnitee is entitled to indemnification shall not have made a determination
within sixty (60) days after receipt by the Company of the request therefor, the requisite
determination of entitlement to indemnification shall be deemed to have been made and Indemnitee
shall be entitled to such indemnification absent (i) a misstatement by Indemnitee of a material
fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially
misleading, in connection with the request for indemnification, or (ii) a prohibition of such
indemnification under applicable law; provided, however, that such sixty (60) day period
may be extended for a reasonable time, not to exceed an additional thirty (30) days, if the person,
persons or entity making such determination with respect to entitlement to indemnification in good
faith requires such additional time to obtain or evaluate documentation and/or information relating
thereto; and provided further, that the foregoing provisions of this Section 6(f)
shall not apply if the determination of entitlement to indemnification is to be made by the voting
stockholders pursuant to Section 6(b) of this Agreement and if (A) within fifteen (15) days
after receipt by the Company of the request for such determination, the Board or the Disinterested
Directors, if appropriate, resolve to submit such determination to the voting stockholders for
their consideration at an annual meeting thereof to be held within sixty (60) days after such
receipt and such determination is made thereat, or (B) a special meeting of voting stockholders is
called within fifteen (15) days after such receipt for the purpose of making such determination,
such meeting is held for such purpose within sixty (60) days after having been so called and such
determination is made thereat.

          (g) Indemnitee shall reasonably cooperate with the person, persons or entity making such
determination with respect to Indemnitee’s entitlement to indemnification, including providing to
such person, persons or entity upon reasonable advance written request any documentation or
information which is not privileged or otherwise protected from disclosure and which is reasonably
available to Indemnitee and reasonably necessary to such determination. Any Independent Counsel or
member of the Board shall act reasonably and in good faith in making a determination regarding
Indemnitee’s entitlement to indemnification under this Agreement. Any costs or expenses (including
attorneys’ fees and disbursements) incurred by Indemnitee in so cooperating with the person,
persons or entity making such determination shall be borne by the Company (irrespective of the
determination as to Indemnitee’s

5

 

entitlement to indemnification) and the Company hereby indemnifies and agrees to hold
Indemnitee harmless therefrom.

          (h) The Company acknowledges that a settlement or other disposition short of final judgment
may be successful if it permits a party to avoid expense, delay, distraction, disruption and
uncertainty. In the event that any Proceeding to which Indemnitee is a party is resolved in any
manner other than by adverse judgment against Indemnitee (including, without limitation, settlement
of such Proceeding with or without payment of money or other consideration) it shall be presumed
that Indemnitee has been successful on the merits or otherwise in such Proceeding. Anyone seeking
to overcome this presumption shall have the burden of proof and the burden of persuasion by clear
and convincing evidence.

          (i) The termination of any Proceeding or of any claim, issue or matter therein, by judgment,
order, settlement or conviction, or upon a plea of nolo contendere or its equivalent, shall not
(except as otherwise expressly provided in this Agreement) of itself adversely affect the right of
Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and
in a manner which Indemnitee reasonably believed to be in or not opposed to the best interests of
the Company or, solely with respect to any criminal Proceeding, that Indemnitee had reasonable
cause to believe that his conduct was unlawful.

          (j) Any person who is or was acting as a director, officer, manager, employee, agent or
fiduciary of any subsidiary of the Company shall be deemed for all purposes under this Agreement to
be doing so at the request of the Company.

     7. Remedies of Indemnitee.

          (a) In the event that (i) a determination is made pursuant to Section 6 that
Indemnitee is not entitled to indemnification under this Agreement, (ii) advancement of Expenses is
not timely made pursuant to Section 5 of this Agreement, (iii) no determination of
entitlement to indemnification is made pursuant to Section 6(b) of this Agreement within
ninety (90) days after receipt by the Company of the request for indemnification, (iv) payment of
indemnification is not made pursuant to this Agreement within ten (10) days after receipt by the
Company of a written request therefor or (v) payment of indemnification is not made within ten (10)
days after a determination has been made that Indemnitee is entitled to indemnification or such
determination is deemed to have been made pursuant to Section 6 of this Agreement,
Indemnitee shall be entitled to an adjudication in an appropriate court of the State of Delaware,
or in any other court of competent jurisdiction, of Indemnitee’s entitlement to such
indemnification. Indemnitee shall commence such proceeding seeking an adjudication within one (1)
year following the date on which Indemnitee first has the right to commence such proceeding
pursuant to this Section 7(a). The Company shall not oppose Indemnitee’s right to seek any
such adjudication.

          (b) In the event that a determination shall have been made pursuant to Section 6(b)
that Indemnitee is not entitled to indemnification, any judicial proceeding commenced pursuant to
this Section 7 shall be conducted in all respects as a de novo trial on the merits, and
Indemnitee shall not be prejudiced by reason of the adverse determination under Section
6(b).

          (c) If a determination shall have been made pursuant to Section 6(b) that Indemnitee
is entitled to indemnification, the Company shall be bound by such determination in any judicial
proceeding commenced pursuant to this Section 7, absent (i) a misstatement by Indemnitee of
a material fact, or an omission of a material fact necessary to make Indemnitee’s misstatement not
materially misleading in connection with the application for indemnification, or (ii) a prohibition
of such indemnification under applicable law.

6

 

          (d) In the event that Indemnitee, pursuant to this Section 7, seeks a judicial
adjudication of his rights under, or to recover damages for breach of, this Agreement, or to
recover under any directors’ and officers’ liability insurance policies maintained by the Company,
the Company shall pay on his behalf, in advance, any and all Expenses actually and reasonably
incurred by him in such judicial adjudication, regardless of whether Indemnitee ultimately is
determined to be entitled to such indemnification, advancement of expenses or insurance recovery.

          (e) The Company shall be precluded from asserting in any judicial proceeding commenced
pursuant to this Section 7 that the procedures and presumptions of this Agreement are not
valid, binding and enforceable and shall stipulate in any such court that the Company is bound by
all the provisions of this Agreement. The Company shall indemnify Indemnitee against any and all
Expenses and, if requested by Indemnitee, shall (within ten (10) days after receipt by the Company
of a written request therefore) advance, to the extent not prohibited by law, such expenses to
Indemnitee, which are incurred by Indemnitee in connection with any action brought by Indemnitee
for indemnification or advance of Expenses from the Company under this Agreement or under any
directors’ and officers’ liability insurance policies maintained by the Company, regardless of
whether Indemnitee ultimately is determined to be entitled to such indemnification, advancement of
Expenses or insurance recovery, as the case may be.

          (f) Notwithstanding anything in this Agreement to the contrary, no determination as to
entitlement to indemnification under this Agreement shall be required to be made prior to the final
disposition of the Proceeding.

     8. Non-Exclusivity; Survival of Rights; Insurance; Primacy of Indemnification.

          (a) The rights of indemnification provided by this Agreement shall not be deemed exclusive of
any other rights to which Indemnitee may at any time be entitled under applicable law, the
Certificate of Incorporation, the Bylaws or the certificate of incorporation (or any similar
governing documents) of any subsidiary, any other agreement, a vote of voting stockholders, a
resolution of directors or otherwise, of the Company or any of its subsidiaries. No amendment,
alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right
of Indemnitee under this Agreement in respect of any action taken or omitted by such Indemnitee in
his Company Status prior to such amendment, alteration or repeal. To the extent that a change in
the DGCL, whether by statute or judicial decision, permits greater indemnification than would be
afforded currently under the Certificate of Incorporation, the Bylaws and this Agreement, it is the
intent of the parties to this Agreement that Indemnitee shall enjoy by this Agreement the greater
benefits so afforded by such change. No right or remedy herein conferred is intended to be
exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in
addition to every other right and remedy given hereunder or now or hereafter existing at law or in
equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise,
shall not prevent the concurrent assertion or employment of any other right or remedy.

          (b) To the extent that the Company maintains an insurance policy or policies providing
liability insurance for directors, managers, officers, employees, or agents or fiduciaries of the
Company or of any other limited liability company, corporation, partnership, joint venture, trust,
employee benefit plan or other enterprise that such person serves at the request of the Company,
Indemnitee shall be covered by such policy or policies in accordance with its or their terms to the
maximum extent of the coverage available for any director, officer, employee, agent or fiduciary
under such policy or policies. If, at the time of the receipt of a notice of a claim pursuant to
the terms hereof, the Company has director and officer liability insurance in effect, the Company
shall give prompt notice of the commencement of any Proceeding to the insurers in accordance with
the procedures set forth in the

7

 

respective policies. The Company shall thereafter take all necessary or desirable action to
cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such
proceeding in accordance with the terms of such policies.

          (c) In the event of any payment under this Agreement, the Company 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 take all action necessary to secure such rights, including execution of such documents
as are necessary to enable the Company to bring suit to enforce such rights.

          (d) The Company shall not be liable under this Agreement to make any payment of amounts
otherwise indemnifiable hereunder if and to the extent that Indemnitee has otherwise actually
received such payment under any insurance policy, contract, agreement or otherwise.

          (e) The Company’s obligation to indemnify or advance Expenses hereunder to Indemnitee who is
or was serving at the request of the Company as a director, officer, employee or agent of any other
corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or
other enterprise shall be reduced by any amount Indemnitee has actually received as indemnification
or advancement of expenses from such other corporation, limited liability company, partnership,
joint venture, trust, employee benefit plan or other enterprise.

     9. Exception to Right of Indemnification. Notwithstanding any provision in this
Agreement, the Company shall not be obligated under this Agreement to make any indemnity payment in
connection with any claim made against Indemnitee:

          (a) for which payment has actually been made to or on behalf of Indemnitee under any insurance
policy or other indemnity provision, except with respect to any excess above the amount paid under
any insurance policy or other indemnity provision; provided, however, that the foregoing
shall not affect the rights of Indemnitee; or

          (b) for an accounting of profits made from the purchase and sale (or sale and purchase) by
Indemnitee of securities of the Company within the meaning of Section 16(b) of the Securities
Exchange Act of 1934, as amended, or similar provisions of state statutory law or common law; or

          (c) in connection with any Proceeding (or any part of any Proceeding) initiated by Indemnitee,
including any Proceeding (or any part of any Proceeding) initiated by Indemnitee against the
Company or its directors, officers, employees, agents, representatives or other indemnitees, unless
(i) the Board authorized the Proceeding (or any part of any Proceeding) prior to its initiation or
(ii) the Company provides the indemnification, in its sole discretion, pursuant to the powers
vested in the Company under applicable law.

     10. Duration of Agreement. All agreements and obligations of the Company contained
herein shall continue during the period Indemnitee is a director or officer of the Company (or is
or was serving at the request of the Company as a director, manager, officer, employee or agent of
another limited liability company, corporation, partnership, joint venture, trust or other
enterprise) and for a period of six (6) years thereafter and shall continue thereafter so long as
Indemnitee shall be subject to any Proceeding (or any proceeding commenced under Section 7)
by reason of his Company Status, whether or not Indemnitee is acting or serving in any such
capacity at the time any liability or expense is incurred for which indemnification can be provided
under this Agreement. This Agreement shall be binding upon and inure to the benefit of and be
enforceable by the parties to this Agreement and their respective successors (including any direct
or indirect successor by purchase, merger, consolidation or

8

 

otherwise to all or substantially all of the business or assets of the Company), assigns,
spouses, heirs, executors and personal and legal representatives.

     11. Security. To the extent requested by Indemnitee and approved by the Board, the
Company may at any time and from time to time provide security to Indemnitee for the Company’s
obligations hereunder through an irrevocable bank line of credit, funded trust or other collateral.
Any such security, once provided to Indemnitee, may not be revoked or released without the prior
written consent of Indemnitee.

     12. Enforcement.

          (a) The Company expressly confirms and agrees that it has entered into this Agreement and
assumes the obligations imposed on it hereby in order to induce Indemnitee to serve as a director
or officer of the Company, and the Company acknowledges that Indemnitee is relying upon this
Agreement in serving as a director or officer of the Company.

          (b) This Agreement, together with the rights conferred upon Indemnitee or obligations imposed
on the Company pursuant to the Certificate of Incorporation, the Bylaws or the DGCL, constitutes
the entire agreement between the parties to this Agreement with respect to the subject matter
hereof and supersedes all prior agreements and understandings, oral, written and implied, between
the parties to this Agreement with respect to the subject matter hereof.

     13. Definitions. For purposes of this Agreement:

          (a) “Change of Control” shall be deemed to occur upon a sale of all or substantially
all of the Company’s assets determined on a consolidated basis or a sale of a majority of the
Company’s outstanding capital stock (whether by merger, recapitalization, consolidation,
reorganization, combination or otherwise) to any Independent Third Party or group of Independent
Third Parties.

          (b) “Company Status” means the status of a person who is or was acting as a director,
officer, manager, employee, agent or fiduciary of the Company, or of any other limited liability
company, corporation, partnership, joint venture, trust, employee benefit plan or other enterprise,
at the request of the Company.

          (c) “Disinterested Director” means a director of the Company who is not and was not a
party to the Proceeding in respect of which indemnification is sought by Indemnitee.

          (d) “Enterprise” shall mean the Company and any other limited liability company,
corporation, partnership, joint venture, trust, employee benefit plan or other enterprise that
Indemnitee is or was serving at the request of the Company as a manager, director, officer,
employee, agent or fiduciary.

          (e) “Expenses” shall include all reasonable attorneys’ fees, retainers, court costs,
transcript costs, fees of experts, witness fees, travel expenses, duplicating costs, printing and
binding costs, telephone charges, postage, delivery service fees and all other disbursements or
expenses of the types customarily incurred in connection with prosecuting, defending, preparing to
prosecute or defend, investigating, participating, or being or preparing to be a witness in a
Proceeding, or responding to, or objecting to, a request to provide discovery in any Proceeding.
Expenses also shall include Expenses incurred in connection with any appeal resulting from any
Proceeding, including without limitation the premium, security for, and other costs relating to any
cost bond, supersede as bond, or other appeal bond

9

 

or its equivalent. Expenses, however, shall not include amounts paid in settlement by
Indemnitee or the amount of judgments or fines against Indemnitee.

          (f) “Independent Counsel” means a law firm, or a member of a law firm, that is
experienced in matters of corporate law and neither presently is, nor in the past five (5) years
has been, retained to represent: (i) the Company or Indemnitee in any matter material to either
such party (other than with respect to matters concerning Indemnitee under this Agreement, or of
other indemnitees under similar indemnification agreements), or (ii) any other party to the
Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing,
the term “Independent 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 Company or Indemnitee in an action to determine Indemnitee’s rights under
this Agreement.

          (g) “Independent Third Party” means any person or entity who (together with its
affiliates), immediately prior to the contemplated transaction, does not own in excess of 10% of
the capital stock on a fully-diluted basis (a “10% Owner”), who is not controlling,
controlled by or under common control with any such 10% Owner and who is not the spouse or
descendant (by birth or adoption), parent or dependent of any such 10% Owner or a trust for the
benefit of such 10% Owner and/or such other persons or entities.

          (h) “Proceeding” includes any threatened, pending or completed action, suit,
arbitration, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing
or any other actual, threatened or completed proceeding, whether brought by or in the right of the
Company or otherwise and whether civil, criminal, administrative or investigative, in which
Indemnitee was, is or will be involved as a party or otherwise, by reason of the fact that
Indemnitee is or was an officer or director of the Company, by reason of any action taken by him or
of any inaction on his part while acting as an officer or director of the Company, or by reason of
the fact that Indemnitee is or was serving at the request of the Company as a director, officer,
employee, agent or fiduciary of another corporation, limited liability company, partnership, joint
venture, trust or other Enterprise, in each case whether or not Indemnitee is acting or serving in
any such capacity at the time any liability or expense is incurred for which indemnification can be
provided under this Agreement, including one pending on or before the date of this Agreement, but
excluding one initiated by an Indemnitee pursuant to Section 7 of this Agreement to enforce
his rights under this Agreement.

     14. Severability. Whenever possible, each provision of this Agreement will be
interpreted in such manner as to be effective and valid under applicable law, but if any provision
of this Agreement is held to be invalid, illegal, or unenforceable in any respect under any
applicable law or rule in any jurisdiction, such invalidity, illegality, or unenforceability will
not affect any other provision or the effectiveness or validity of any provision in any other
jurisdiction, and this Agreement will be reformed, construed, and enforced in such jurisdiction as
if such invalid, illegal, or unenforceable provision had never been contained herein. Without
limiting the generality of the foregoing, this Agreement is intended to confer upon Indemnitee
indemnification rights to the fullest extent permitted by applicable laws.

     15. Modification and Waiver. No supplement, modification, termination or amendment of
this Agreement shall be binding unless executed in writing by both of the parties to this
Agreement. 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. The failure of any party to enforce any of the provisions of this
Agreement shall in no way be construed as a waiver of such provisions and shall not affect the
right of such party thereafter to enforce each and every provision of this Agreement in accordance
with its terms.

10

 

     16. Notice By Indemnitee. Indemnitee agrees promptly to notify the Company in writing
upon being served with or otherwise receiving any summons, citation, subpoena, complaint,
indictment, information or other document relating to any Proceeding or matter which may be subject
to indemnification covered hereunder. The failure to so notify the Company shall not relieve the
Company of any obligation which it may have to Indemnitee under this Agreement or otherwise unless
and only to the extent that such failure or delay actually and materially prejudices the interests
of the Company.

     17. Notices. All notices, demands, or other communications to be given or delivered
under or by reason of the provisions of this Agreement shall be in writing and shall be deemed to
have been given or made when (a) delivered personally to the recipient, (b) telecopied to the
recipient, or delivered by means of electronic mail (with hard copy sent to the recipient by
reputable overnight courier service (charges prepaid) that same day) if telecopied/emailed before
5:00 p.m. Pacific time on a business day, and otherwise on the next business day, or (c) one
business day after being sent to the recipient by reputable overnight courier service (charges
prepaid). All communications shall be sent:

          (a) To Indemnitee at the address set forth below Indemnitee signature to this Agreement.

          (b) To the Company at:

c/o Golden Gate Private Equity, Inc.

One Embarcadero Center, 39th Floor

San Francisco, California 94111

Facsimile: 415-983-2701

Attention: John Knoll

With a copy to:

Kirkland & Ellis LLP

555 California Street

San Francisco, California 94104

Facsimile: 415-439-1500

Attention: Stephen Oetgen; Arshad Ahmed

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

     18. Counterparts; Electronic Delivery. This Agreement may be executed in multiple
counterparts with the same effect as if all signing parties had signed the same document. All
counterparts shall be construed together and constitute the same instrument. This Agreement, the
agreements referred to herein, and each other agreement or instrument entered into in connection
herewith or therewith or contemplated hereby or thereby, and any amendments hereto or thereto, to
the extent signed and delivered by means of a photographic, photostatic, facsimile or similar
reproduction of such signed writing using a facsimile machine or electronic mail shall be treated
in all manner and respects as an original agreement or instrument and shall be considered to have
the same binding legal effect as if it were the original signed version thereof delivered in
person. At the request of any party to this Agreement or to any such agreement or instrument, each
other party hereto or thereto shall re-execute original forms thereof and deliver them to all other
parties. No party to this Agreement or to any such agreement or instrument shall raise the use of
a facsimile machine or electronic mail to deliver a signature or the fact that any signature or
agreement or instrument was transmitted or communicated through the use of a facsimile machine or

11

 

electronic mail as a defense to the formation or enforceability of a contract and each such
party forever waives any such defense.

     19. Headings. The descriptive headings of this Agreement are inserted for convenience
only and do not constitute a substantive part of this Agreement.

     20. Governing Law and Consent to Jurisdiction. This Agreement shall be governed by,
and construed in accordance with, the laws of the State of Delaware, without giving effect to any
choice of law or conflict of law rules or provisions (whether of the State of Delaware or any other
jurisdiction) that would cause the application of the laws of any jurisdiction other than the State
of Delaware. The Company and Indemnitee each hereby irrevocably submits to the nonexclusive
jurisdiction of the Court of Chancery of the State of Delaware, the United States District Court
for the Northern District of California and the state courts of the State of California in the
County of San Francisco for the purposes of any suit, action or other proceeding arising out of
this Agreement or any transaction contemplated hereby. Each party to this Agreement further agrees
that service of any process, summons, notice or document by United States certified or registered
mail to such party’s address for notice under Section 17 or such other address or to the
attention of such other person as the recipient party has specified by prior written notice to the
sending party shall be effective service of process in any action, suit or proceeding in Delaware
or in California with respect to any matters to which it has submitted to jurisdiction as set forth
above in the immediately preceding sentence. Each party to this Agreement irrevocably and
unconditionally waives any objection to the laying of venue of any action, suit or proceeding
arising out of this Agreement or the transactions contemplated hereby in the Court of Chancery of
the State of Delaware, the United States District Court for the Northern District of California or
the state courts of the State of California in the County of San Francisco and hereby irrevocably
and unconditionally waives and agrees not to plead or claim in any such court that any such action,
suit or proceeding brought in such court has been brought in an inconvenient forum.

     21. MUTUAL WAIVER OF JURY TRIAL. BECAUSE DISPUTES ARISING IN CONNECTION WITH COMPLEX
TRANSACTIONS ARE MOST QUICKLY AND ECONOMICALLY RESOLVED BY AN EXPERIENCED AND EXPERT PERSON AND THE
PARTIES WISH APPLICABLE STATE AND FEDERAL LAWS TO APPLY (RATHER THAN ARBITRATION RULES), THE
PARTIES DESIRE THAT THEIR DISPUTES BE RESOLVED BY A JUDGE APPLYING SUCH APPLICABLE LAWS.
THEREFORE, TO ACHIEVE THE BEST COMBINATION OF THE BENEFITS OF THE JUDICIAL SYSTEM AND OF
ARBITRATION, EACH PARTY TO THIS AGREEMENT (INCLUDING THE COMPANY) HEREBY WAIVES ALL RIGHTS TO TRIAL
BY JURY IN ANY ACTION, SUIT, OR PROCEEDING BROUGHT TO RESOLVE ANY DISPUTE BETWEEN OR AMONG ANY OF
THE PARTIES TO THIS AGREEMENT, WHETHER ARISING IN CONTRACT, TORT, OR OTHERWISE, ARISING OUT OF,
CONNECTED WITH, RELATED OR INCIDENTAL TO THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREBY
AND/OR THE RELATIONSHIPS ESTABLISHED AMONG THE PARTIES HEREUNDER.

     22. Further Action. The parties shall execute and deliver all documents, provide all
information, and take or refrain from taking such actions as may be necessary or appropriate to
achieve the purposes of this Agreement.

* * * *

12

 

     IN WITNESS WHEREOF, the parties have executed this Indemnification Agreement on and as of the
day and year first above written.

	 	 	 	 	 
	 	COMPANY:

CONEXANT HOLDINGS, INC.

 	 
	 	By:  	/s/ John Knoll
 	 
	 	 	Name:  	John Knoll 	 
	 	 	Title:  	Secretary 	 
	 

	 	 	 	 	 
	 	INDEMNITEE:

 	 
	 	/s/ Sailesh Chittipedi
 	 
	 	Name:  	Sailesh Chittipeddi

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00193-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00193-of-00352.parquet"}]]