Document:

Exhibit 4.6

    

    
       

      

       

      RADWARE LTD.

       

      COMPENSATION POLICY

       

      FOR

       

      EXECUTIVE OFFICERS AND DIRECTORS

       

      (Amended and Restated through November 10, 2020)

       

      
        
          

      

      
      TABLE OF CONTENTS

       

      
        	 	
                 

              	
                Page

              
	A.

              	
                Overview and Objectives

              	
                 3

              
	 	
                 

              	
                 

              
	B.	
                Base Salary, Benefits and Perquisites    

              	
                 5

              
	 	
                 

              	
                 

              
	C.	
                Cash Bonuses and Commissions    

              	
                 6

              
	 	
                 

              	
                 

              
	D.	
                Equity Based Compensation     

              	
                 8

              
	 	
                 

              	
                 

              
	E.	
                Retirement and Termination of Service Arrangements

              	 9
	 	 	 
	F.	
                Exculpation, Indemnification and Insurance

              	 9
	 	 	 
	G.	
                Non-Employee Directors Compensation

              	 9
	 	 	 
	H.	Miscellaneous	 9

      

      

      
        2

        
          

      

      RADWARE LTD.

       

      Compensation Policy for Executive Officers and Directors

       

      This Compensation Policy for Executive Officers and Directors (this "Compensation Policy" or this "Policy") of Radware Ltd., an Israeli company ("we", "Radware" or the "Company"), was adopted by the Board of Directors of the Company (the "Board"),
        following the recommendation of the Company’s Compensation Committee (the "Compensation Committee" or the "Committee").

      

      

      A.          Overview and Objectives

       

      	1.	
              Introduction

            

       

      This Policy was adopted in accordance with the requirements of the Israeli Companies Law, 1999 (the “Companies Law”) and applies to the compensation arrangements of all "Executives," which, for purposes of this Policy, shall mean "Office Holders" (as
        such term is defined in the Companies Law), excluding, unless otherwise expressly indicated, Radware's non-employee directors.

       

      	2.	
              Objectives

            

       

      We believe that compensation is a key element in our overall human resources strategy to attract, retain, reward,
        and motivate highly skilled individuals who will assist Radware to reach its business objectives, performance and the creation of shareholder value and otherwise contribute to its long-term success. Accordingly, this Policy was designed to
        correlate executive compensation with Radware's objectives and goals and otherwise embraces a performance culture that is based on merit, and differentiates and rewards excellent performance in the long term.

       

      In light of the foregoing, the main principles and objectives that underlie this Policy, include the following:

       

      	

            	•	
              Compensation should be aligned with our long-term
                  goals. Promoting the Company's goals and purposes, its work program and its policy with a long-term view;

            

       

      	

            	•	
              Compensation should serve to attract and retain
                  the best executives, while maintaining our risk policy. Creating appropriate incentives to attract, retain, reward, and motivate
                highly skilled individuals while considering, among others, the Company's risk management policy. To that end, this Policy is designed, among others, to align the interests of the Executives with those of Radware and, at the same, creating
                appropriate balances, such as imposing limitations on cash bonus, commissions and equity based compensation ("Variable Pay") so as to ensure adequate control of risks;

            

       

      	

            	•	
              Compensation should be appropriate for our
                  business. Creating a compensation package that matches the Company's size and nature of operations, while
                taking into account the Company's global nature with a global workforce;

            

       

      
        3

        
          

      

      	

            	•	
              Compensation should be competitive. Providing a competitive compensation package to attract, retain, reward, and motivate highly skilled individuals, including by providing
                increased rewards for superior individual and corporate performance; and

            

       

      	

            	•	
              Compensation should be correlated to individual as
                  well as overall performance. With respect to Variable Pay, compensating based on the individual's contribution to achieving the
                Company's objectives and generating its profits, with a long-term perspective and in accordance with the individual's role and contribution to the Company.

            

       

      	3.	
              Process and Elements of Compensation

            

       

      The Compensation Committee shall first determine the appropriate level of total
        compensation for each Executive, including the appropriate allocation among the different elements and components of the compensation package, based on the principles set forth in this Policy. In setting compensation of an Executive, the
        Compensation Committee and the Board of Directors shall consider, among other things, the following factors:

       

      	

            	•	
              the educational, professional experience and accomplishments of the Executive;

            

       

      	

            	•	
              his or her position, responsibilities and prior compensation arrangements. This includes additional compensation for such additional duties and positions in Radware
                which go beyond the Executive's capacity according to his or her employment agreement;

            

       

      	

            	•	
              compensation for comparably situated executives;

            

       

      	

            	•	
              the Executive's past performance and expected contribution to our future growth and profitability;

            

       

      	

            	•	
              existing and previous employment agreements with the Executive;

            

       

      	

            	•	
              the relation between the compensation of the Executive and that of other employees in Radware; and

            

       

      	

            	•	
              any requirements prescribed by applicable law (including, for purposes of this Policy, applicable securities laws and stock exchange regulations) from time to time.

            

       

      We will aim to provide fair and equitable compensation for our Executives by using various
        compensation elements and instruments, including base salary; benefits and perquisites; cash bonuses and commissions; equity-based compensation; and retirement or termination of service arrangements.

       

      
        4

        
          

      

      	4.	
              Overall Compensation - Ratio between Fixed and Variable Pay

            

       

      In setting compensation of an Executive, we will attempt to balance the mix of Fixed Pay (i.e., base salary,
        benefits and perquisites) and Variable Pay in order to, among other things, appropriately incentivize Executives to meet Radware's goals while considering, among others, Radware's risk management policies. To that end, the table below reflects the
        ratio between Fixed and Variable Pay that we target under this Policy, measured on an annual basis:

       

      	 	
              Range for Fixed Pay* out of the Total Compensation

            	
              Range for Variable Pay out of the Total Compensation**

            
	
              CEO

            	
              15-40%

            	
              60-85%

            
	
              Non-Sales Executives

            	
              30-60%

            	
              40-70%

            
	
              Sales Executives

            	
              10-50%

            	
              50-90%

            

       

      

      (*)  For purposes hereof, consists of base salary only.

       

      (**) The variable component in regard of the equity-based compensation reflects the value
        at the date of grant.

       

      The ratios stated in the table above represent the optimal compensation mix desired by the Company and assuming
        that the bonus and/or commission milestones and targets are fully achieved. Accordingly, the actual ratio may vary based on performance in the relevant year.

       

      	5.	
              Intra-Company Compensation Ratio

            

       

      In the process of composing this Policy, we have examined the ratio between overall
        compensation of Executives and the average and median salaries of the other employees (including contractors and agency contractors), as well as the possible ramifications of such ratio on the work environment in Radware were examined in order to
        ensure, among others, that levels of executive compensation will not have a negative impact on the positive work relations in our company.

       

      To that end, we will target a ratio where the overall compensation of each Executive,
        including the CEO, shall be no more than 30 times the average (and median) of the overall compensation for the other employees in such location.

       

      B.          Base Salary, Benefits and Perquisites

       

      	1.	
              Base Salary

            

       

      The base salary varies between Executives, and is individually determined according to, among others, the
        performance, educational background, prior business experience, aptitude, qualifications, role and the personal responsibilities of the Executive.

       

      In addition, since a competitive base salary is essential to Radware's ability to attract and retain highly
        skilled professionals in the long term, we seek to establish base salary that is competitive with the base salaries paid to Executives of a peer group of companies. Accordingly, we will utilize as a reference comparative market data and practices.

       

      
        5

        
          

      

      For purposes of attracting and retaining high quality personnel, we may offer a signing bonus to a candidate for
        an executive position, which shall not exceed an amount of one annual base salary of the Executive.

       

      	2.	
              Benefits and Perquisites

            

       

      The following benefits and perquisites may be granted to any Executive in order, among other things, to comply
        with local legal requirements:

       

      	

            	•	
              Vacation of up to 24 days per annum;

            

       

      	

            	•	
              Sick days of up to 30 days per annum;

            

       

      	

            	•	
              Convalescence pay according to applicable law;

            

       

      	

            	•	
              Monthly contribution for a study fund, as allowed by applicable law and with reference to the practice in peer group companies;

            

       

      	

            	•	
              Radware shall contribute on behalf of the Executive to an insurance policy or a pension fund, or to a policy and a fund, as allowed by law and with reference to the
                practice in peer group companies;

            

       

      	

            	•	
              Radware shall contribute on behalf of the Executive to funds toward work disability insurance, as allowed by applicable law and with reference to the practice in peer
                group companies; and

            

       

      	

            	•	
              Life and health insurance.

            

       

      For the sake of clarity, any Executives who are not based in Israel may receive other similar, comparable or
        customary benefits and perquisites as applicable in the relevant jurisdiction in which they are employed.

      

      

      In addition, we may offer additional benefits and perquisites to the Executives, which will be comparable to
        customary industry practices, such as: company cellular phone benefits; company car benefits; refund of business related expenses; relocation expenses; insurances, etc.; provided however, that such additional benefits and perquisites shall be
        determined in accordance with our policies and procedures.

      

      

      	C.	
              Cash Bonuses and Commissions

            

       

      	1.	
              The Objective

            

       

      A compensation in the form of cash bonus(es) and/or commissions is important in aligning
        Executives' compensation with Radware's objectives and business goals, such that both individual performance and overall company success are rewarded.

       

      	2.	
              Bonuses and Commissions

            

       

      Our policy is to allow annual bonus(es) and/or commissions upon the attainment of pre-set financial objectives
        and personal targets, pursuant to distinguishable terms for the following three Executives' populations:

       

      
        6

        
          

      

      CEO

       

      	

            	•	
              The annual bonus of our CEO will be based upon achievement of milestones and targets and the measurable results of the Company, as compared to our budget and/or work
                plans (including product roadmap or the like) for the relevant year.

            

       

      	

            	•	
              Such measurable criteria will initially be determined at the beginning of each fiscal year (or start of employment, as applicable) and may include (but is not limited
                to) any one or more of the following criteria: financial results of the Company, including profits and revenues; product releases; software quality; efficiency metrics; internal and external customer satisfaction; execution of projects,
                etc.

            

       

      	

            	•	
              A portion of up to 10% of the annual bonus may be based on the achievement and performance of individual key performance indicators (KPIs), as approved by the
                Compensation Committee and the Board.

            

       

      	

            	•	
              In any case, the total amount of the annual bonus for the CEO will not exceed 133% of the CEO’s annual base salary.

            

       

      Non-Sales Executives

       

      	

            	•	
              The annual bonus of the Non-Sales Executives will be based upon achievement of milestones and targets and the measurable results of the Company, as compared to our
                budget and/or work plan for the relevant year.

            

       

      	

            	•	
              Such measurable criteria will initially be determined at the beginning of each fiscal year (or start of employment, as applicable) and may include (but is not limited
                to) any one or more of the following criteria: financial results of the Company, including profits and revenues; product releases; software quality; efficiency metrics; internal and external customer satisfaction; execution of projects,
                etc.

            

       

      	

            	•	
              A portion of the annual bonus may be based on the achievement and performance of pre-determined individual KPIs.

            

       

      	

            	•	
              In any case, the total amount of the annual bonus for any Non-Sales Executive will not exceed the amount of one annual base salary of such Executive.

            

       

      Sales Executives

       

      	

            	•	
              The annual bonus and/or commissions of the Sales Executives will be comprised from bonuses and commissions based upon achievement of targets of revenues and/or gross
                profit generated by the individual and/or his/her team or division and/or the Company, as initially determined at the beginning of each fiscal year (or start of employment, as applicable).

            

       

      
        7

        
          

      

      	

            	•	
              In any case, the total amount of the annual bonus and commissions for any Sales Executive will not exceed the amount of four annual base salaries of such Executive.

            

       

      	3.	
              Board's Discretion; Special Bonus

            

       

      	

            	•	
              Executives may receive a special bonus based on outstanding personal achievement as shall be approved by the Compensation Committee and the Board. Similarly, the
                Board may, in extraordinary conditions, reduce the bonus and commissions to which an Executive would otherwise be entitled. However, in both cases, such increase or decrease may be by no more than 20% of the bonus or commissions described
                above (as applicable) for any year.

            

       

      	4.	
              Compensation Recovery ("Clawback")

            

       

      	

            	•	
              In the event of an accounting restatement, Radware shall be entitled to recover from any Executive bonus or commissions in the amount of the excess over what would
                have been paid under the accounting restatement, with a three-year look-back. The compensation recovery will not apply to former Executives of Radware.

            

       

      	

            	•	
              Notwithstanding the aforesaid, the compensation recovery will not be triggered in the event of a financial restatement required due to changes in the applicable
                financial reporting standards.

            

       

      	

            	•	
              Nothing in this Section 4 derogates from any other "clawback" or similar provisions regarding disgorging of profits imposed on Executives by virtue of applicable law
                or other Company practices.

            

      

      

      	D.	
              Equity Based Compensation

            

       

      	1.	
              The Objective

            

       

      The equity based compensation for Radware's Executives is designed in a manner consistent with the underlying
        objectives determining the base salary and the annual bonus, its main objectives being to enhance the alignment between the Executives' interests with the long term interests of Radware and its shareholders, and to strengthen the retention and the
        motivation of Executives in the long term. In addition, since these equity based awards are structured to vest over several years, their incentive value to recipients is aligned with longer-term strategic plans.

       

      	2.	
              General guidelines for the grant of awards

            

       

      	

            	•	
              The equity based compensation may be in a form of a mixture of various types of equity based instruments, which includes, without limitation, stock options and
                restricted stock units.

            

       

      
        8

        
          

      

      
      	

            	•	
              The equity based compensation shall be granted from time to time and individually determined and awarded according to the performance, educational background, prior
                business experience, aptitude, qualifications, role and the personal responsibilities of the Executive.

            

       

      	

            	•	
              Equity based compensation for Radware's Executives shall vest over a minimum of three (3) years.

            

       

      	

            	•	
              The fair market value of the equity based compensation for the Executives will be determined according to acceptable valuation practices at the time of grant. Such
                fair market value shall not exceed the equivalent of five (5) annual salary for each Executive per year of vesting, on a linear basis  (“Equity
                  Cap”).

            

       

      	

            	•	
              The vesting and/or the grant of such equity based compensation may be contingent upon the increase in the market price of Radware's ordinary shares.

            

       

      	

            	•	
              The Board may, following approval by the Compensation Committee, (1) extend the period of time for which an award of an Executive is to remain exercisable, (2) make
                provisions with respect to the acceleration of the vesting period of any Executive's awards, including, without limitation, in connection with a corporate transaction involving a change of control, and (3) for the sake of clarity, permit
                the grant of equity-based awards by any subsidiaries of Radware (whether wholly owned or not) to Executives; provided that the aforesaid principles (including vesting period and Equity Cap) shall apply, subject to applicable changes.

            

       

      	E.	
              Retirement and Termination of Service Arrangements

            

       

      	

            	•	
              Radware may provide an Executive a prior notice of termination of up to six (6) months, during which the Executive may be entitled to all or a portion of his or her
                compensation elements, and to the continuation of vesting of his options or other awards. Unless the Company decides to release the Executive from this obligation, the Executive will be required to continue performing all roles and
                responsibilities during the notice period.

            

       

      	

            	•	
              Radware may provide an additional adaptation or transition period during which the Executive will be entitled to up to six (6) months of continued base salary,
                benefits and perquisites. Additionally, the Board may, upon approval by the Compensation Committee, approve to extend the vesting of Executive's options or other awards during such period. In this regard, the Compensation Committee and
                Board of Directors shall take into consideration the Executive's term of employment, the Executive's compensation during employment with the Company, the Company's performance during such period, and the contribution of the Executive in
                achieving the Company's goals and the circumstances of termination.

            

       

      	

            	•	
              Radware may provide additional retirement and terminations benefits and payments as may be required by applicable law (e.g., mandatory severance pay under Israeli
                labor laws), or which will be comparable to customary market practices, including, without limitation, release of pension and provident funds and/or manager insurance policies contributed and accrued to the benefit of such Executive through
                the date of termination (or, if and when there is a shortfall in the amount of such funds, including in the case of resignation, supplementing such shortfall amount) to the Executive and/or any person designated by him or her.

            

       

      
        9

        
          

      

      	F.	
              Exculpation, Indemnification and Insurance

            

       

      	

            	•	
              Except as may be otherwise approved from time to time by the shareholders, Radware may exempt its Directors and Executives from the duty of care.

            

       

      	

            	•	
              Radware may indemnify the Directors and Executives to the fullest extent permitted by applicable law, for any liability and expense that may be imposed on them, as
                shall be provided in an indemnity agreement between such individuals and Radware.

            

       

      	

            	•	
              Radware will provide "Directors and Officers Insurance" for its Directors and Executives, with aggregate coverage that will not exceed the higher of (A) US$50
                million and (B) 25% of its shareholders’ equity, unless otherwise determined by the shareholders from time to time.

            

       

      	

            	•	
              Radware may also purchase such D&O insurance with respect to specific events, such as public offerings, or with respect to periods of time following which the
                then existing insurance coverage ceases to apply, such as “run-off” coverage in connection with a change in control; provided  that the aggregate coverage therefor shall not exceed the aggregate coverage at such time for the D&O
                Insurance.

            

       

      G.          Non-Employee Directors Compensation

       

      	

            	•	
              The non-employee members of Radware's board may (and, in the case of statutory external directors, shall) be entitled to remuneration and refund of expenses according
                to the provisions of the Companies Regulations (Rules on Remuneration and Expenses of Outside Directors), 5760-2000, as amended by the Companies Regulations (Relief for Public Companies Traded in Stock Exchange Outside of Israel), 2000, as
                such regulations may be amended from time to time.

            

       

      	

            	•	
              It is hereby clarified that such non-employee directors may be granted equity based compensation which shall vest over a period of not less than three (3) years, and
                having a fair market value (determined according to acceptable valuation practices at the time of grant) not to exceed, with respect to each director, US$450,000 per year of vesting, on a linear basis, subject to applicable law and
                regulations.

            

       

      H.          Miscellaneous

       

      	

            	•	
              This Policy will remain in effect for a period of three years since the last date this Policy (or an amendment thereto) was approved. The Compensation Committee and
                the Board shall review and reassess the adequacy of this Policy from time to time, as required by the Companies Law.

            

       

      	

            	•	
              This Policy is designed solely for the benefit of Radware and none of the provisions thereof are intended to provide any rights or remedies to any person other than
                Radware. In particular, this Policy does not, and shall not be deemed to, grant any rights to the Company’s directors and Executives to receive any elements of compensation set forth in this Policy. The elements of compensation to which a
                director or Executive will be entitled will be exclusively those that are determined and approved specifically in relation to him or her in accordance with the approval requirements of the Companies Law.EX-10.1

 Exhibit 10.1 

INDEMNIFICATION AGREEMENT 

This Indemnification Agreement (this “Agreement”) is entered into as of [________], 20[__] (the “Effective
Date”) by and between Marvell Technology, Inc., a Delaware corporation (the “Company”), and [____________] (the “Indemnitee”). 

RECITALS 
 WHEREAS, the
Board of Directors has determined that the inability to attract and retain qualified persons as directors and officers is detrimental to the best interests of the Company’s stockholders and that the Company should act to assure such persons
that there shall be adequate certainty of protection through insurance and indemnification against risks of claims and actions against them arising out of their service to and activities on behalf of the Company; 

WHEREAS, the Company has adopted provisions in its Certificate of Incorporation and Bylaws providing for indemnification and advancement of
expenses of its directors and officers to the fullest extent not prohibited by the General Corporation Law of the State of Delaware (the “DGCL”) or any other applicable law, and the Company wishes to clarify and enhance the rights and
obligations of the Company and the Indemnitee with respect to indemnification and advancement of expenses; 
 WHEREAS, in order to induce
and encourage highly experienced and capable persons such as the Indemnitee to serve and continue to serve as directors and officers of the Company and in any other capacity with respect to the Company as the Company may request, and to otherwise
promote the desirable end that such persons shall resist what they consider unjustified lawsuits and claims made against them in connection with the good faith performance of their duties to the Company, with the knowledge that certain costs,
judgments, penalties, fines, liabilities, and expenses incurred by them in their defense of such litigation are to be borne by the Company and they shall receive appropriate protection against such risks and liabilities, the Board of Directors of
the Company has determined that the following Agreement is reasonable and prudent to promote and ensure the best interests of the Company and its stockholders; and 

WHEREAS, the Company desires to have the Indemnitee continue to serve as a director or officer of the Company and in any other capacity with
respect to the Company as the Company may request, as the case may be, free from undue concern for unpredictable, inappropriate, or unreasonable legal risks and personal liabilities by reason of the Indemnitee acting in good faith in the performance
of the Indemnitee’s duty to the Company; and the Indemnitee desires to continue so to serve the Company, provided, and on the express condition, that he or she is furnished with the protections set forth hereinafter. 

 AGREEMENT 

NOW, THEREFORE, in consideration of the Indemnitee’s continued service as a director or officer of the Company, the parties hereto
agree as follows: 
 1. Definitions. For purposes of this Agreement: 

(a) A “Change in Control” will be deemed to have occurred if, with respect to any particular
24-month period, the individuals who, at the beginning of such 24-month period, constituted the Board of Directors of the Company (the “Incumbent
Board”) cease for any reason to constitute at least a majority of the Board of Directors; provided, however, that any individual becoming a director subsequent to the beginning of such
24-month period whose election, or nomination for election by the stockholders of the Company, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be
considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the
election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a person other than the Board of Directors. 

(b) “Disinterested Director” means a director of the Company who is not or was not a party to the Proceeding in respect of
which indemnification is being sought by the Indemnitee. 
 (c) “Expenses” includes, without limitation, expenses incurred
in connection with the defense or settlement of any action, suit, arbitration, alternative dispute resolution mechanism, investigation, inquiry, judicial, administrative, or legislative hearing, or any other threatened, pending, or completed
proceeding, whether brought by or in the right of the Company or otherwise, including any and all appeals, whether of a civil, criminal, administrative, legislative, investigative, or other nature, attorneys’ fees, witness fees and expenses,
fees and expenses of accountants and other advisors, retainers and disbursements and advances thereon, the premium, security for, and other costs relating to any bond (including cost bonds, appraisal bonds, or their equivalents), and any expenses of
establishing a right to indemnification or advancement under Sections 9, 11, 13, and 16 hereof, but shall not include the amount of judgments, fines, ERISA excise taxes, or penalties actually levied against the Indemnitee, or any amounts paid
in settlement by or on behalf of the Indemnitee. 
 (d) “Independent Counsel” means a law firm or a member of a law firm
that neither is presently nor in the past five years has been retained to represent (i) the Company or the Indemnitee in any matter material to either such party or (ii) any other party to the Proceeding giving rise to a request 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 the Indemnitee in an action to determine the Indemnitee’s right to indemnification under this Agreement. 

(e) “Proceeding” means any action, suit, arbitration, alternative dispute resolution mechanism, investigation, inquiry,
judicial, administrative, or legislative hearing, or any other threatened, pending, or completed proceeding, whether brought by or in the right of the Company or otherwise, including any and all appeals, whether of a civil, criminal, administrative,
legislative, investigative, or other nature, to which the Indemnitee was or is a party or is threatened to be made a party or is otherwise involved in by reason of the fact that the Indemnitee is or was a director, officer, employee, agent, or
trustee of the Company or while a director, officer, employee, agent, or trustee of the Company is or was serving at the request of the Company as a director, officer, employee, agent, or trustee of another corporation or of a

  
 2 

 
partnership, joint venture, trust, or other enterprise, including service with respect to an employee benefit plan, or by reason of anything done or not done by the Indemnitee in any such
capacity, whether or not the Indemnitee is serving in such capacity at the time any expense, liability, or loss is incurred for which indemnification or advancement can be provided under this Agreement. 

2. Service by the Indemnitee. The Indemnitee shall serve and/or continue to serve as a director or officer of the Company faithfully and
to the best of the Indemnitee’s ability so long as the Indemnitee is duly elected or appointed and until such time as the Indemnitee’s successor is elected and qualified or the Indemnitee is removed as permitted by applicable law or
tenders a resignation in writing. 
 3. Indemnification and Advancement of Expenses. The Company shall indemnify and hold harmless the
Indemnitee, and shall pay to the Indemnitee in advance of the final disposition of any Proceeding all Expenses incurred by the Indemnitee in defending any such Proceeding, to the fullest extent authorized by the DGCL, as the same exists or may
hereafter be amended, all on the terms and conditions set forth in this Agreement. Without diminishing the scope of the rights provided by this Section, the rights of the Indemnitee to indemnification and advancement of Expenses provided hereunder
shall include but shall not be limited to those rights hereinafter set forth, except that no indemnification or advancement of Expenses shall be paid to the Indemnitee: 

(a) to the extent expressly prohibited by applicable law or the Certificate of Incorporation or Bylaws of the Company; 

(b) for and to the extent that payment is actually made to the Indemnitee under a valid and collectible insurance policy or under a valid and
enforceable indemnity clause, provision of the certificate of incorporation or bylaws, or agreement of the Company or any other company or other enterprise (and the Indemnitee shall reimburse the Company for any amounts paid by the Company and
subsequently so recovered by the Indemnitee); 
 (c) in connection with an action, suit, or proceeding, or part thereof voluntarily initiated
by the Indemnitee (including claims and counterclaims, whether such counterclaims are asserted by (i) the Indemnitee, or (ii) the Company in an action, suit, or proceeding initiated by the Indemnitee), except a judicial proceeding or
arbitration pursuant to Section 11 to enforce rights under this Agreement, unless the action, suit, or proceeding, or part thereof, was authorized or ratified by the Board of Directors of the Company or the Board of Directors otherwise
determines that indemnification or advancement of Expenses is appropriate; 
 (d) with respect to any Proceeding brought by or in the right
of the Company against the Indemnitee that is authorized by the Board of Directors of the Company, except as provided in Sections 5, 6, and 7 below. 

4. Action or Proceedings Other than an Action by or in the Right of the Company. Except as limited by Section 3 above, the
Indemnitee shall be entitled to the indemnification rights provided in this Section if the Indemnitee was or is a party or is threatened to be made a party to, or was or is otherwise involved in, any Proceeding (other than an action by or in the

  
 3 

 
right of the Company) by reason of the fact that the Indemnitee is or was a director, officer, employee, agent, or trustee of the Company or while a director, officer, employee, agent, or trustee
of the Company is or was serving at the request of the Company as a director, officer, employee, agent, or trustee of another corporation or of a partnership, joint venture, trust, or other enterprise, including service with respect to an employee
benefit plan, or by reason of anything done or not done by the Indemnitee in any such capacity. Pursuant to this Section, the Indemnitee shall be indemnified against all expense, liability, and loss (including judgments, fines, ERISA excise taxes,
penalties, amounts paid in settlement by or on behalf of the Indemnitee, and Expenses) actually and reasonably incurred by the Indemnitee in connection with such Proceeding, if the Indemnitee acted in good faith and in a manner the Indemnitee
reasonably believed to be in or not opposed to the best interests of the Company, and with respect to any criminal Proceeding, had no reasonable cause to believe his or her conduct was unlawful. 

5. Indemnity in Proceedings by or in the Right of the Company. Except as limited by Section 3 above, the Indemnitee shall be
entitled to the indemnification rights provided in this Section if the Indemnitee was or is a party or is threatened to be made a party to, or was or is otherwise involved in, any Proceeding brought by or in the right of the Company to procure a
judgment in its favor by reason of the fact that the Indemnitee is or was a director, officer, employee, agent, or trustee of the Company or while a director, officer, employee, agent, or trustee of the Company is or was serving at the request of
the Company as a director, officer, employee, agent, or trustee of another corporation or of a partnership, joint venture, trust, or other enterprise, including service with respect to an employee benefit plan, or by reason of anything done or not
done by the Indemnitee in any such capacity. Pursuant to this Section, the Indemnitee shall be indemnified against all Expenses actually and reasonably incurred by the Indemnitee in connection with such Proceeding if the Indemnitee acted in good
faith and in a manner the Indemnitee reasonably believed to be in or not opposed to the best interests of the Company; provided, however, that no such indemnification shall be made in respect of any claim, issue, or matter as to which
the DGCL expressly prohibits such indemnification by reason of any adjudication of liability of the Indemnitee to the Company, unless and only to the extent that the Court of Chancery of the State of Delaware or the court in which such Proceeding
was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, the Indemnitee is entitled to indemnification for such expense, liability, and loss as such court shall deem
proper. 
 6. Indemnification for Costs, Charges, and Expenses of Successful Party. Notwithstanding any limitations of
Sections 3(c), 3(d), 4, and 5 above, to the extent that the Indemnitee has been successful, on the merits or otherwise, in whole or in part, in defense of any Proceeding, or in defense of any claim, issue, or matter therein, including, without
limitation, the dismissal of any action without prejudice, or if it is ultimately determined, by final judicial decision of a court of competent jurisdiction from which there is no further right to appeal, that the Indemnitee is otherwise entitled
to be indemnified against Expenses, the Indemnitee shall be indemnified against all Expenses actually and reasonably incurred by the Indemnitee in connection therewith. 

  
 4 

 7. Partial Indemnification. If the Indemnitee is entitled under any provision of this
Agreement to indemnification by the Company for some or a portion of the expense, liability, and loss (including judgments, fines, ERISA excise taxes, penalties, amounts paid in settlement by or on behalf of the Indemnitee, and Expenses) actually
and reasonably incurred in connection with any Proceeding, or in connection with any judicial proceeding or arbitration pursuant to Section 11 to enforce rights under this Agreement, but not, however, for all of the total amount thereof, the
Company shall nevertheless indemnify the Indemnitee for the portion of such expense, liability, and loss actually and reasonably incurred to which the Indemnitee is entitled. 

8. Determination of Entitlement to Indemnification. To receive indemnification under this Agreement, the Indemnitee shall submit a
written request to the Secretary of the Company. Such request shall include documentation or information that is necessary for such determination and is reasonably available to the Indemnitee. Upon receipt by the Secretary of the Company of a
written request by the Indemnitee for indemnification, the entitlement of the Indemnitee to indemnification, to the extent not required pursuant to the terms of Section 6 of this Agreement, shall be determined by the following person or persons
who shall be empowered to make such determination (as selected by the Board of Directors, except with respect to Section 9(e) below): (a) the Board of Directors of the Company by a majority vote of Disinterested Directors, whether or not
such majority constitutes a quorum; (b) a committee of Disinterested Directors designated by a majority vote of such directors, whether or not such majority constitutes a quorum; (c) if there are no Disinterested Directors, or if the
Disinterested Directors so direct, by Independent Counsel in a written opinion to the Board of Directors, a copy of which shall be delivered to the Indemnitee; (d) the stockholders of the Company; or (e) in the event that a Change in
Control has occurred, by Independent Counsel in a written opinion to the Board of Directors, a copy of which shall be delivered to the Indemnitee. Such Independent Counsel shall be selected by the Board of Directors and approved by the Indemnitee,
except that in the event that a Change in Control has occurred, Independent Counsel shall be selected by the Indemnitee. Upon failure of the Board of Directors so to select such Independent Counsel or upon failure of the Indemnitee so to approve (or
so to select, in the event a Change in Control has occurred), such Independent Counsel shall be selected upon application to a court of competent jurisdiction. The determination of entitlement to indemnification shall be made and, unless a contrary
determination is made, such indemnification shall be paid in full by the Company not later than 60 calendar days after receipt by the Secretary of the Company of a written request for indemnification. If the person making such determination shall
determine that the Indemnitee is entitled to indemnification as to part (but not all) of the application for indemnification, such person shall reasonably prorate such partial indemnification among the claims, issues, or matters at issue at the time
of the determination. 
 9. Presumptions and Effect of Certain Proceedings. The Secretary of the Company shall, promptly upon receipt
of the Indemnitee’s written request for indemnification, advise in writing the Board of Directors or such other person or persons empowered to make the determination as provided in Section 9 that the Indemnitee has made such request for
indemnification. Upon making such request for indemnification, the Indemnitee shall be presumed to be entitled to indemnification hereunder and the Company shall have the burden of proof in making any determination contrary to such presumption. If
the person or persons so empowered to make such determination shall have failed to make the requested determination with respect to indemnification within 60 calendar days after receipt by the Secretary of the Company of such request, a requisite
determination of entitlement to indemnification shall be deemed to have been made and the Indemnitee shall be absolutely entitled to such 

  
 5 

 
indemnification, absent actual fraud in the request for indemnification. The termination of any Proceeding described in Sections 4 or 5 by judgment, order, settlement, or conviction, or upon
a plea of nolo contendere or its equivalent, shall not, of itself (a) create a presumption that the Indemnitee did not act in good faith and in a manner the Indemnitee reasonably believed to be in or not opposed to the best interests of
the Company, and with respect to any criminal Proceeding, had reasonable cause to believe his or her conduct was unlawful or (b) otherwise adversely affect the rights of the Indemnitee to indemnification except as may be provided herein. 

10. Remedies of the Indemnitee in Cases of Determination Not to Indemnify or to Advance Expenses; Right to Bring Suit. In the event that
a determination is made that the Indemnitee is not entitled to indemnification hereunder or if payment is not timely made following a determination of entitlement to indemnification pursuant to Sections 9 and 10, or if an advancement of
Expenses is not timely made pursuant to Section 16, the Indemnitee may at any time thereafter bring suit against the Company seeking an adjudication of entitlement to such indemnification or advancement of Expenses, and any such suit shall be
brought in the Court of Chancery of the State of Delaware unless otherwise required by the law of the state in which the Indemnitee primarily resides and works. Alternatively, the Indemnitee at the Indemnitee’s option may seek an award in an
arbitration to be conducted by a single arbitrator in the State of Delaware pursuant to the rules of the American Arbitration Association, such award to be made within 60 calendar days following the filing of the demand for arbitration. The Company
shall not oppose the Indemnitee’s right to seek any such adjudication or award in arbitration. In any suit or arbitration brought by the Indemnitee to enforce a right to indemnification hereunder (but not in a suit or arbitration brought by the
Indemnitee to enforce a right to an advancement of Expenses), it shall be a defense that the Indemnitee has not met any applicable standard of conduct for indemnification set forth in the DGCL, including the standard described in Section 4
or 5, as applicable. Further, in any suit brought by the Company to recover an advancement of Expenses pursuant to the terms of an undertaking, the Company shall be entitled to recover such Expenses upon a final judicial decision of a
court of competent jurisdiction from which there is no further right to appeal that the Indemnitee has not met the standard of conduct described above. Neither the failure of the Company (including the Disinterested Directors, a committee of
Disinterested Directors, Independent Counsel, or its stockholders) to have made a determination prior to the commencement of such suit or arbitration that indemnification of the Indemnitee is proper in the circumstances because the Indemnitee has
met the standard of conduct described above, nor an actual determination by the Company (including the Disinterested Directors, a committee of Disinterested Directors, Independent Counsel, or its stockholders) that the Indemnitee has not met the
standard of conduct described above shall create a presumption that the Indemnitee has not met the standard of conduct described above, or, in the case of such a suit brought by the Indemnitee, be a defense to such suit. In any suit brought by the
Indemnitee to enforce a right to indemnification or to an advancement of Expenses hereunder, or brought by the Company to recover an advancement of Expenses pursuant to the terms of an undertaking, the burden of proving that the Indemnitee is not
entitled to be indemnified, or to such advancement of expenses, under this Section 11 or otherwise shall be on the Company. If a determination is made or deemed to have been made pursuant to the terms of Section 9 or 10 that the
Indemnitee is entitled to indemnification, the Company shall be bound by such determination and is precluded from asserting that such determination has not been made or that the procedure by which such determination was made is not valid, binding,
and enforceable. The Company further agrees to stipulate in any court or before any arbitrator pursuant to this Section 11 that the 

  
 6 

 
Company is bound by all the provisions of this Agreement and is precluded from making any assertions to the contrary. If the court or arbitrator shall determine that the Indemnitee is entitled to
any indemnification or advancement of Expenses hereunder, the Company shall pay all Expenses actually and reasonably incurred by the Indemnitee in connection with such adjudication or award in arbitration (including, but not limited to, any
appellate proceedings) to the fullest extent permitted by law, and in any suit brought by the Company to recover an advancement of Expenses pursuant to the terms of an undertaking, the Company shall pay all Expenses actually and reasonably incurred
by the Indemnitee in connection with such suit to the extent the Indemnitee has been successful, on the merits or otherwise, in whole or in part, in defense of such suit, to the fullest extent permitted by law. 

11. Non-Exclusivity of Rights. The rights to indemnification and to the advancement of Expenses
provided by this Agreement shall not be deemed exclusive of any other right that the Indemnitee may now or hereafter acquire under any applicable law, agreement, vote of stockholders or Disinterested Directors, provisions of a charter or bylaws
(including the Certificate of Incorporation or Bylaws of the Company), or otherwise. 
 12. Expenses to Enforce Agreement. In the
event that the Indemnitee is subject to or intervenes in any action, suit, or proceeding in which the validity or enforceability of this Agreement is at issue or seeks an adjudication or award in arbitration to enforce the Indemnitee’s rights
under, or to recover damages for breach of, this Agreement, the Indemnitee, if the Indemnitee prevails in whole or in part in such action, suit, or proceeding, shall be entitled to recover from the Company and shall be indemnified by the Company
against any Expenses actually and reasonably incurred by the Indemnitee in connection therewith. 
 13. Continuation of Indemnity. All
agreements and obligations of the Company contained herein shall continue during the period the Indemnitee is a director, officer, employee, agent, or trustee of the Company or while a director, officer, employee, agent, or trustee is serving at the
request of the Company as a director, officer, employee, agent, or trustee of another corporation or of a partnership, joint venture, trust, or other enterprise, including service with respect to an employee benefit plan, and shall continue
thereafter with respect to any possible claims based on the fact that the Indemnitee was a director, officer, employee, agent, or trustee of the Company or was serving at the request of the Company as a director, officer, employee, agent, or trustee
of another corporation or of a partnership, joint venture, trust, or other enterprise, including service with respect to an employee benefit plan. This Agreement shall be binding upon all successors and assigns of the Company (including any
transferee of all or substantially all of its assets and any successor by merger or operation of law) and shall inure to the benefit of the Indemnitee’s heirs, executors, and administrators. 

14. Notification and Defense of Proceeding. Promptly after receipt by the Indemnitee of notice of any Proceeding, the Indemnitee shall,
if a request for indemnification or an advancement of Expenses in respect thereof is to be made against the Company under this Agreement, notify the Company in writing of the commencement thereof; but the omission so to notify the Company shall not
relieve it from any liability that it may have to the Indemnitee. Notwithstanding any other provision of this Agreement, with respect to any such Proceeding of which the Indemnitee notifies the Company: 

  
 7 

 (a) The Company shall be entitled to participate therein at its own expense; 

(b) Except as otherwise provided in this Section 15(b), to the extent that it may wish, the Company, jointly with any other indemnifying
party similarly notified, shall be entitled to assume the defense thereof, with counsel satisfactory to the Indemnitee. After notice from the Company to the Indemnitee of its election so to assume the defense thereof, the Company shall not be liable
to the Indemnitee under this Agreement for any expenses of counsel subsequently incurred by the Indemnitee in connection with the defense thereof except as otherwise provided below. The Indemnitee shall have the right to employ the Indemnitee’s
own counsel in such Proceeding, but the fees and expenses of such counsel incurred after notice from the Company of its assumption of the defense thereof shall be at the expense of the Indemnitee unless (i) the employment of counsel by the
Indemnitee has been authorized by the Company, (ii) the Indemnitee shall have reasonably concluded that there may be a conflict of interest between the Company and the Indemnitee in the conduct of the defense of such Proceeding, or
(iii) the Company shall not within 60 calendar days of receipt of notice from the Indemnitee in fact have employed counsel to assume the defense of the Proceeding, in each of which cases the fees and expenses of the Indemnitee’s counsel
shall be at the expense of the Company. The Company shall not be entitled to assume the defense of any Proceeding brought by or on behalf of the Company or as to which the Indemnitee shall have made the conclusion provided for in (ii) above;
and 
 (c) Notwithstanding any other provision of this Agreement, the Company shall not be liable to indemnify the Indemnitee under this
Agreement for any amounts paid in settlement of any Proceeding effected without the Company’s written consent, or for any judicial or other award, if the Company was not given an opportunity, in accordance with this Section 15, to
participate in the defense of such Proceeding. The Company shall not settle any Proceeding in any manner that would impose any penalty or limitation on or disclosure obligation with respect to the Indemnitee, or that would directly or indirectly
constitute or impose any admission or acknowledgment of fault or culpability with respect to the Indemnitee, without the Indemnitee’s written consent. Neither the Company nor the Indemnitee shall unreasonably withhold its consent to any
proposed settlement. 
 15. Advancement of Expenses. All Expenses incurred by the Indemnitee in defending any Proceeding described in
Section 4 or 5 shall be paid by the Company in advance of the final disposition of such Proceeding at the request of the Indemnitee. The Indemnitee’s right to advancement shall not be subject to the satisfaction of any standard of conduct
and advances shall be made without regard to the Indemnitee’s ultimate entitlement to indemnification under the provisions of this Agreement or otherwise. To receive an advancement of Expenses under this Agreement, the Indemnitee shall submit a
written request to the Secretary of the Company. Such request shall reasonably evidence the Expenses incurred by the Indemnitee and shall include or be accompanied by an undertaking, by or on behalf of the Indemnitee, to repay all amounts so
advanced if it shall ultimately be determined, by final judicial decision of a court of competent jurisdiction from which there is no further right to appeal, that the Indemnitee is not entitled to be indemnified for such Expenses by the Company as
provided by this Agreement or otherwise. The Indemnitee’s undertaking to repay any such amounts is not required to be secured. Each such advancement of Expenses shall be made within 20 calendar days after the receipt by the Secretary of the
Company of such written request. The Indemnitee’s entitlement to Expenses under this Agreement shall include those incurred in connection with any action, suit, or proceeding by the Indemnitee seeking an adjudication or award in arbitration
pursuant to Section 11 of this Agreement (including the enforcement of this provision) to the extent the court or arbitrator shall determine that the Indemnitee is entitled to an advancement of Expenses hereunder. 

  
 8 

 16. Severability; Prior Indemnification Agreements. If any provision or provisions of
this Agreement shall be held to be invalid, illegal, or unenforceable as applied to any person or entity or circumstance for any reason whatsoever, then, to the fullest extent permitted by law (a) the validity, legality, and enforceability of
such provision in any other circumstance and of the remaining provisions of this Agreement (including, without limitation, all portions of any paragraphs of this Agreement containing any such provision held to be invalid, illegal, or unenforceable,
that are not by themselves invalid, illegal, or unenforceable) and the application of such provision to other persons or entities or circumstances shall not in any way be affected or impaired thereby, and (b) to the fullest extent possible, the
provisions of this Agreement (including, without limitation, all portions of any paragraph of this Agreement containing any such provision held to be invalid, illegal, or unenforceable, that are not themselves invalid, illegal, or unenforceable)
shall be construed so as to give effect to the intent of the parties that the Company provide protection to the Indemnitee to the fullest extent set forth in this Agreement. This Agreement shall supersede and replace any prior indemnification
agreements entered into by and between either the Company or Marvell Technology Group Ltd and the Indemnitee and any such prior agreements shall be terminated upon execution of this Agreement. 

17. Headings; References; Pronouns. The headings of the sections of this Agreement are inserted for convenience only and shall not be
deemed to constitute part of this Agreement or to affect the construction thereof. References herein to section numbers are to sections of this Agreement. All pronouns and any variations thereof shall be deemed to refer to the singular or plural as
appropriate. 
 18. Other Provisions. 

(a) This Agreement and all disputes or controversies arising out of or related to this Agreement shall be governed by, and construed in
accordance with, the internal laws of the State of Delaware, without regard to the laws of any other jurisdiction that might be applied because of conflicts of laws principles of the State of Delaware, unless otherwise required by the law of the
state in which the Indemnitee primarily resides and works. 
 (b) This Agreement may be executed in two or more counterparts, all of which
shall be considered one and the same instrument and shall become effective when one or more counterparts have been signed by each of the parties and delivered to the other party. 

(c) This Agreement shall not be deemed an employment contract between the Company and any Indemnitee who is an officer of the Company, and, if
the Indemnitee is an officer of the Company, the Indemnitee specifically acknowledges that the Indemnitee may be discharged at any time for any reason, with or without cause, and with or without severance compensation, except as may be otherwise
provided in a separate written contract between the Indemnitee and the Company. 

  
 9 

 (d) In the event of payment under this Agreement, the Company shall be subrogated to
the extent of such payment to all of the rights of recovery of the Indemnitee (excluding insurance obtained on the Indemnitee’s own behalf), and the Indemnitee 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 Company effectively to bring suit to enforce such rights. 

(e) This Agreement may not be amended, modified, or supplemented in any manner, whether by course of conduct or otherwise, except by an
instrument in writing specifically designated as an amendment hereto, signed on behalf of each party. No failure or delay of either party in exercising any right or remedy hereunder shall operate as a waiver thereof, and no single or partial
exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such right or power, or any course of conduct, shall preclude any other or further exercise thereof or the exercise of any other right or power. 

[The remainder of this page is intentionally left blank.] 

  
 10 

 IN WITNESS WHEREOF, the Company and the Indemnitee have caused this Agreement to be executed
as of the date first written above. 
  

			
	MARVELL TECHNOLOGY, INC.
		
	By:	 	  

		 	Name:
		 	Title:
	
	  

	Indemnitee

  

  
 SIGNATURE
PAGE TO INDEMNIFICATION AGREEMENT

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00326-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00326-of-00352.parquet"}]]