Document:

Marvell Technology Group Ltd. Executive Performance Incentive Plan

 Exhibit 10.1 

MARVELL TECHNOLOGY GROUP LTD. 

EXECUTIVE PERFORMANCE INCENTIVE PLAN 

(Effective April 29, 2010) 

 TABLE OF CONTENTS 

 

					
	 	  	 	  	Page
	SECTION 1 BACKGROUND, PURPOSE AND DURATION	  	1
			
	 1.1
	  	 Effective Date
	  	1
	 1.2
	  	 Purpose of the Plan
	  	1
		
	SECTION 2 DEFINITIONS	  	1
			
	 2.1
	  	 “Actual Award”
	  	1
	 2.2
	  	 “Affiliate”
	  	1
	 2.3
	  	 “Base Salary”
	  	1
	 2.4
	  	 “Board”
	  	1
	 2.5
	  	 “Change in Control”
	  	1
	 2.6
	  	 “Code”
	  	2
	 2.7
	  	 “Committee”
	  	2
	 2.8
	  	 “Company”
	  	2
	 2.9
	  	 “Determination Date”
	  	2
	 2.10
	  	 “Disability”
	  	2
	 2.11
	  	 “Employee”
	  	2
	 2.12
	  	 “Fiscal Year”
	  	2
	 2.13
	  	 “Maximum Award”
	  	2
	 2.14
	  	 “Participant”
	  	2
	 2.15
	  	 “Payout Formula”
	  	2
	 2.16
	  	 “Performance Period”
	  	2
	 2.17
	  	 “Performance Goals”
	  	2
	 2.18
	  	 “Plan”
	  	3
	 2.19
	  	 “Target Award”
	  	3
	 2.20
	  	 “Termination of Employment”
	  	3
		
	SECTION 3 SELECTION OF PARTICIPANTS AND DETERMINATION OF AWARDS	  	3
			
	 3.1
	  	 Performance Goals
	  	3
	 3.2
	  	 Selection of Participants
	  	4
	 3.3
	  	 Determination of Performance Goals
	  	4
	 3.4
	  	 Determination of Target Awards
	  	4
	 3.5
	  	 Determination of Payout Formula
	  	4
	 3.6
	  	 Date for Determinations
	  	4
	 3.7
	  	 Determination of Actual Awards
	  	5
		
	SECTION 4 PAYMENT OF AWARDS	  	5
			
	 4.1
	  	 Right to Receive Payment
	  	5
	 4.2
	  	 Timing of Payment
	  	5
	 4.3
	  	 Form of Payment
	  	5
	 4.4
	  	 Termination of Employment
	  	6

  

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 TABLE OF CONTENTS 

(continued) 
  

					
	 	  	Page
	 SECTION 5 ADMINISTRATION
	  	6
			
	 5.1
	  	 Committee is the Administrator
	  	6
	 5.2
	  	 Committee Authority
	  	6
	 5.3
	  	 Decisions Binding
	  	6
	 5.4
	  	 Delegation by the Committee
	  	6
		
	 SECTION 6 GENERAL PROVISIONS
	  	6
			
	 6.1
	  	 Tax Withholding
	  	6
	 6.2
	  	 No Effect on Employment
	  	7
	 6.3
	  	 Participation
	  	7
	 6.4
	  	 Indemnification
	  	7
	 6.5
	  	 Successors
	  	7
	 6.6
	  	 Beneficiary Designations
	  	7
	 6.7
	  	 Nontransferability of Awards
	  	8
		
	 SECTION 7 AMENDMENT, TERMINATION AND DURATION
	  	8
			
	 7.1
	  	 Amendment, Suspension or Termination
	  	8
	 7.2
	  	 Duration of the Plan
	  	8
		
	 SECTION 8 LEGAL CONSTRUCTION
	  	8
			
	 8.1
	  	 Gender and Number
	  	8
	 8.2
	  	 Severability
	  	8
	 8.3
	  	 Requirements of Law
	  	8
	 8.4
	  	 Governing Law
	  	9
	 8.5
	  	 Captions
	  	9
	 8.6
	  	 Code Section 409A
	  	9

  

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 MARVELL TECHNOLOGY GROUP LTD. 

EXECUTIVE PERFORMANCE INCENTIVE PLAN 

SECTION 1 

BACKGROUND, PURPOSE AND DURATION 

1.1 Effective Date. The Plan is effective April 29, 2010 (the “Effective Date”), subject to approval by
the shareholders of the Company at the 2010 Annual General Meeting of Shareholders of the Company. 
 1.2 Purpose of the
Plan. The Plan is intended to increase shareholder value and the success of the Company by motivating Participants (1) to perform to the best of their abilities, and (2) to achieve the Company’s objectives. The Plan’s
goals are to be achieved by providing Participants with the opportunity to earn incentive awards for the achievement of goals relating to the performance of the Company. The Plan is intended to permit the payment of bonuses that qualify as
performance-based compensation under Section 162(m) of the Code. 
 SECTION 2 

DEFINITIONS 

The following words and phrases shall have the following meanings unless a different meaning is plainly required by the context:

 2.1 “Actual Award” means as to any Performance Period, the actual award (if any) payable to a Participant
for the Performance Period. Each Actual Award is determined by the Payout Formula for the Performance Period, subject to the Committee’s authority under Section 3.7 to eliminate or reduce the award otherwise determined by the Payout
Formula. 
 2.2 “Affiliate” means a member of the Company’s “affiliated group,” as defined in
Section 1504 of the Code (determined without regard to Section 1504(b) of the Code). 
 2.3 “Base
Salary” means as to any Performance Period, the Participant’s earned salary during the Performance Period. Such Base Salary shall be before both (a) deductions for taxes or benefits, and (b) deferrals of compensation pursuant
to Company-sponsored plans and Affiliate-sponsored plans. 
 2.4 “Board” means the Board of Directors of the
Company. 
 2.5 “Change in Control” means the occurrence of any of the following, in one or a series of related
transactions: 
 a. Change in ownership of the Company; 

b. Change in effective control of the Company; or 

 c. Change in the ownership of a substantial portion of the Company’s
assets (with an asset value change in ownership exceeding more than 50% of the total gross fair market value replacing the 40% default rule); 

all as defined under Section 409A of the Code, the final Treasury Regulations and the official Internal Revenue Service guidance
thereunder (“Section 409A”). 
 2.6 “Code” means the Internal Revenue Code of 1986, as
amended. Reference to a specific section of the Code or regulation thereunder shall include such section or regulation, any valid regulation promulgated thereunder, and any comparable provision of any future legislation or regulation amending,
supplementing or superseding such section or regulation. 
 2.7 “Committee” means the committee appointed by
the Board (pursuant to Section 5.1) to administer the Plan. 
 2.8 “Company” means Marvell Technology
Group Ltd. or any successor thereto. 
 2.9 “Determination Date” means a date within ninety (90) days
following the commencement of any Performance Period, but in no event after twenty-five percent (25%) of the Performance Period has elapsed (or such other time as may be required or permitted that will not jeopardize a Target Award or Actual
Award’s qualification as performance-based compensation under Section 162(m) of the Code). 
 2.10
“Disability” means a permanent disability in accordance with a policy or policies established by the Committee (in its discretion) from time to time. 

2.11 “Employee” means any employee of the Company or of an Affiliate, whether such employee is so employed at the time
the Plan is adopted or becomes so employed subsequent to the adoption of the Plan. 
 2.12 “Fiscal Year” means
the fiscal year of the Company. 
 2.13 “Maximum Award” means as to any Participant for any Performance Period,
$5,000,000. 
 2.14 “Participant” means as to any Performance Period, an Employee who has been selected by the
Committee for participation in the Plan for that Performance Period. 
 2.15 “Payout Formula” means as to any
Performance Period, the formula or payout matrix established by the Committee pursuant to Section 3.5 in order to determine the Actual Awards (if any) to be paid to Participants. The formula or matrix may differ from Participant to Participant.

 2.16 “Performance Goals” shall have the meaning as set forth in Section 3.1 of the Plan. 

2.17 “Performance Period” means a Fiscal Year or such longer or shorter period as determined by the Committee in its
sole discretion. 
  

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 2.18 “Plan” means the Marvell Technology Group Ltd. Executive Performance
Incentive Plan, as set forth in this instrument and as hereafter amended from time to time. 
 2.19 “Target
Award” means the target award payable under the Plan to a Participant for the Performance Period, expressed as a percentage of his or her Base Salary or a specific dollar amount, as determined by the Committee in accordance with
Section 3.4. 
 2.20 “Termination of Employment” means a cessation of the employee-employer relationship
between an Employee and the Company or an Affiliate for any reason, including, but not by way of limitation, a termination by resignation, discharge, death, Disability, retirement, or the disaffiliation of an Affiliate, but excluding any such
termination where there is a simultaneous re-employment by the Company or an Affiliate. 
 SECTION 3 

SELECTION OF PARTICIPANTS AND DETERMINATION OF AWARDS 

3.1 Performance Goals. The granting of awards pursuant to the Plan may be made subject to the attainment of goal(s) (or
combined goal(s)) determined by the Committee (in its discretion) relating to one or more business criteria within the meaning of Section 162(m) of the Code to be applicable to a Participant for a Target Award for a Performance Period
(“Performance Goals”). As determined by the Committee, the Performance Goals for any Target Award applicable to a Participant may provide for a targeted level or levels of achievement using one or more of the following measures:
attainment of research and development milestones, business divestitures and acquisitions, cash flow, customer retention or acquisition, business unit performance, earnings (which may include earnings before interest, taxes, depreciation or
amortization (EBITDA)), earnings per share, expense reduction, gross margin, growth with respect to any of the foregoing measures, market share, net income, new product development, operating income, operating margin, pre-tax profit, product release
timelines, productivity, return on capital employed, return on shareholder equity, return on sales, revenue, revenue growth, and total shareholder return. Performance Goals may differ from Participant to Participant, Performance Period to
Performance Period and from award to award. Any criteria used may be measured, as applicable, (i) in absolute terms; (ii) in relative terms over the passage of time and/or any measurement against other companies or financial or business or
stock index metrics particular to the Company); (iii) on a per share and/or share per capita basis; (iv) against the performance of the Company as a whole or against any Affiliate(s), or a particular segment(s), a business unit(s) or a
product(s) of the Company; (v) on a pre-tax or after-tax basis; and/or (vi) using an actual foreign exchange rate or on a foreign exchange neutral basis. Prior to the Determination Date, the Committee shall determine whether any element(s)
(for example, but not by way of limitation, the effect of mergers or acquisitions) shall be included in or excluded from the calculation of any Performance Goal with respect to any Participants (whether or not such determinations result in any
Performance Goal being measured on a basis other than generally accepted accounting principles). In all other respects, Performance Goals will be calculated in accordance with the Company’s financial statements, generally accepted accounting
principles, or under a methodology established by the Committee prior to or at the time of the issuance of an award and which is consistently applied with respect to a Performance Goal in the relevant Performance Period. The Committee will
appropriately adjust any evaluation of performance under a Performance Goal to exclude (i) any extraordinary non-recurring items as described in Accounting Principles Board Opinion No. 30 and/or in management’s discussion and analysis
of financial conditions and results of operations appearing in the Company’s annual report to shareholders for the applicable year; or (ii) the effect of any changes in accounting principles affecting the Company’s or a business
units’ reported results. In addition, the Committee will adjust any performance criteria, Performance Goal or other feature of an award that relates to or is wholly or partially based on the number of, or the value of, any stock of the Company,
to reflect any stock dividend or split, repurchase, recapitalization, combination, or exchange of shares or other similar changes in such stock. 
  

 -3- 

 3.2 Selection of Participants. The Committee, in its sole discretion, shall
select the Employees who shall be Participants for any Performance Period. The Committee, in its sole discretion, also may designate as Participants one or more individuals (by name or position) who are expected to become Employees during a
Performance Period. Participation in the Plan is in the sole discretion of the Committee, and shall be determined on a Performance Period by Performance Period basis. Accordingly, an Employee who is a Participant for a given Performance Period in no
way is guaranteed or assured of being selected for participation in any subsequent Performance Period. 
 3.3 Determination
of Performance Goals. The Committee, in its sole discretion, shall establish the Performance Goals for each Participant for the Performance Period. Such Performance Goals shall be set forth in writing. 

3.4 Determination of Target Awards. The Committee, in its sole discretion, shall establish a Target Award for each
Participant. Each Participant’s Target Award shall be determined by the Committee in its sole discretion, and each Target Award shall be set forth in writing. 

3.5 Determination of Payout Formula. On or prior to the Determination Date for a Performance Period, the Committee, in its
sole discretion, shall establish a Payout Formula for purposes of determining the Actual Award (if any) payable to each Participant. Each Payout Formula shall (a) be in writing, (b) be based on a comparison of actual performance to the
Performance Goals, (c) provide for the payment of a Participant’s Target Award if the Performance Goals for the Performance Period are achieved at the predetermined level, and (d) provide for the payment of an Actual Award greater
than or less than the Participant’s Target Award, depending upon the extent to which actual performance exceeds or falls below the Performance Goals. Notwithstanding the preceding, in no event shall a Participant’s Actual Award for any
Performance Period exceed the Maximum Award. 
 3.6 Date for Determinations. The Committee shall make all determinations
under Sections 3.2 through 3.5 on or before the Determination Date. 
  

 -4- 

 3.7 Determination of Actual Awards. After the end of each Performance Period, the
Committee shall certify in writing (for example, in its meeting minutes) the extent to which the Performance Goals applicable to each Participant for the Performance Period were achieved or exceeded, as determined by the Committee. A Participant
will be eligible to receive an Actual Award intended to qualify as performance-based compensation under Section 162(m) of the Code for a Performance Period only if the Performance Goals for such period are achieved. If the Performance Goals for
a Performance Period are not achieved, a Participant will not receive payment of any Actual Award based on such Performance Goals and will not receive a grant of any make-up Actual Award for such Performance Period or any other newly-granted Actual
Award for such Performance Period. The Actual Award for each Participant shall be determined by applying the Payout Formula to the level of actual performance that has been certified in writing by the Committee. Notwithstanding any contrary
provision of the Plan, in determining the amounts earned by a Participant pursuant to an award intended to qualified as performance-based compensation under Section 162(m) of the Code, the Committee will have the right to (a) reduce or
eliminate (but not to increase) the amount payable at a given level of performance to take into account additional factors that the Committee may deem relevant to the assessment of individual or corporate performance for the Performance Period,
(b) determine what Actual Award, if any, will be paid in the event of a Termination of Employment as the result of a Participant’s death or Disability or upon a Change in Control or in the event of a Termination of Employment following a
Change in Control prior to the end of the Performance Period, and (c) determine what Actual Award, if any, will be paid in the event of a Termination of Employment other than as the result of a Participant’s death or Disability prior to a
Change in Control and prior to the end of the Performance Period to the extent an actual Award would have otherwise been achieved had the Participant remained employed through the end of the Performance Period. 

SECTION 4 

PAYMENT OF AWARDS 

4.1 Right to Receive Payment. Each Actual Award that may become payable under the Plan shall be paid solely from the general
assets of the Company or the Affiliate that employs the Participant (as the case may be), as determined by the Committee. Nothing in this Plan shall be construed to create a trust or to establish or evidence any Participant’s claim of any right
to payment of an Actual Award other than as an unsecured general creditor with respect to any payment to which he or she may be entitled. 

4.2 Timing of Payment. Subject to Section 3.7, payment of each Actual Award shall be made as soon as administratively
practicable following the determination of the Actual Award payment. 
 4.3 Form of Payment. Each Actual Award shall
be paid in cash (or its equivalent) in a single lump-sum and/or in the form of an equity award, as determined in the sole discretion of the Committee. To the extent that the Committee determines that an Actual Award is payable in part or in full as
an equity award instead of cash, the number of shares subject to such equity award will be determined subject to a conversion ratio, as determined in the sole discretion of the Committee. All equity awards will be issued pursuant to the terms,
conditions and procedures of the Marvell Technology Group Ltd. Amended and Restated 1995 Stock Option Plan as may be hereafter amended from time to time or any successor equity incentive plan that the Company may adopt from time to time (the
“Stock Plan”) and an award agreement thereunder; provided that any such equity award may be subject to service-based vesting. 
  

 -5- 

 4.4 Termination of Employment. Except as permitted in Section 3.7, if a
Participant incurs a Termination of Employment for any reason prior to the date of payment of an Actual Award, such Participant shall not be entitled to an Award. 

SECTION 5 

ADMINISTRATION 

5.1 Committee is the Administrator. The Plan shall be administered by the Committee. The Committee shall consist of not less than
two (2) members of the Board. The members of the Committee shall be appointed from time to time by, and serve at the pleasure of, the Board. Each member of the Committee shall qualify as an “outside director” under Section 162(m)
of the Code. If it is later determined that one or more members of the Committee do not so qualify, actions taken by the Committee prior to such determination shall be valid despite such failure to qualify. Any member of the Committee may resign at
any time by notice in writing mailed or delivered to the Secretary of the Company. As of the Effective Date of the Plan, the Plan shall be administered by the Executive Compensation Committee of the Board. 

5.2 Committee Authority. It shall be the duty of the Committee to administer the Plan in accordance with the Plan’s
provisions. The Committee shall have all powers and discretion necessary or appropriate to administer the Plan and to control its operation, including, but not limited to, the power to (a) determine which Employees shall be granted awards,
(b) prescribe the terms and conditions of awards, (c) interpret the Plan and the awards, (d) adopt such procedures and sub-plans as are necessary or appropriate to permit participation in the Plan by Employees who are foreign
nationals or employed outside of the United States, (e) adopt rules for the administration, interpretation and application of the Plan as are consistent therewith, and (f) interpret, amend or revoke any such rules. 

5.3 Decisions Binding. All determinations and decisions made by the Committee, the Board, and any delegate of the Committee
pursuant to the provisions of the Plan shall be final, conclusive and binding on all persons, and shall be given the maximum deference permitted by law. 

5.4 Delegation by the Committee. The Committee, in its sole discretion and on such terms and conditions as it may provide,
may delegate all or part of its authority and powers under the Plan to one or more directors and/or officers of the Company; provided, however, that the Committee may not delegate its authority and/or powers with respect to awards that are intended
to qualify as performance-based compensation under Section 162(m) of the Code. 
 SECTION 6 

GENERAL PROVISIONS 

6.1 Tax Withholding. The Company or an Affiliate, as determined by the Committee, shall withhold all applicable taxes from any
Actual Award, including any federal, state, local and other taxes. Notwithstanding the foregoing, to the extent an Actual Award is settled in whole or in part as an equity award pursuant to Section 4.3, the Committee shall provide for
appropriate tax withholding requirements in the applicable award agreement consistent with the terms of the Stock Plan. Further, the obligation of the Company to deliver shares will be subject to a Participant satisfying the tax withholding
obligations described in the preceding sentence. 
  

 -6- 

 6.2 No Effect on Employment. Nothing in the Plan shall interfere with or limit
in any way the right of the Company or an Affiliate, as applicable, to terminate any Participant’s employment or service at any time, with or without cause. For purposes of the Plan, transfer of employment of a Participant between the Company
and any one of its Affiliates (or between Affiliates) shall not be deemed a Termination of Employment. Employment with the Company and its Affiliates is on an at-will basis only. The Company expressly reserves the right, which may be exercised at
any time and without regard to when during or after a Performance Period such exercise occurs, to terminate any individual’s employment with or without cause, and to treat him or her without regard to the effect which such treatment might have
upon him or her as a Participant. 
 6.3 Participation. No Employee shall have the right to be selected to receive
an award under this Plan, or, having been so selected, to be selected to receive a future award. 
 6.4
Indemnification. Each person who is or shall have been a member of the Committee, or of the Board, shall be indemnified and held harmless by the Company against and from (a) any loss, cost, liability, or expense that may be imposed
upon or reasonably incurred by him or her in connection with or resulting from any claim, action, suit, or proceeding to which he or she may be a party or in which he or she may be involved by reason of any action taken or failure to act under the
Plan or any award, and (b) from any and all amounts paid by him or her in settlement thereof, with the Company’s approval, or paid by him or her in satisfaction of any judgment in any such claim, action, suit, or proceeding against him or
her, provided he or she shall give the Company an opportunity, at its own expense, to handle and defend the same before he or she undertakes to handle and defend it on his or her own behalf. The foregoing right of indemnification shall not be
exclusive of any other rights of indemnification to which such persons may be entitled under the Company’s charter and/or organizational documents, by contract, as a matter of law, or otherwise, or under any power that the Company may have to
indemnify them or hold them harmless. 
 6.5 Successors. All obligations of the Company and any Affiliate under the
Plan, with respect to awards granted hereunder, shall be binding on any successor to the Company and/or such Affiliate, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of
all or substantially all of the business or assets of the Company or such Affiliate. 
 6.6 Beneficiary Designations.

 a. Designation. Each Participant may, pursuant to such uniform and nondiscriminatory procedures as the Committee may
specify from time to time, designate one or more beneficiaries to receive any Actual Award payable to the Participant at the time of his or her death. Notwithstanding any contrary provision of the Plan, this Section 6.6 shall be operative only
after (and for so long as) the Committee determines (on a uniform and nondiscriminatory basis) to permit the designation of beneficiaries. 
  

 -7- 

 b. Changes. A Participant may designate different beneficiaries (or may revoke a
prior beneficiary designation) at any time by delivering a new designation (or revocation of a prior designation) in like manner. Any designation or revocation shall be effective only if it is received by the Committee. However, when so received,
the designation or revocation shall be effective as of the date the designation or revocation is executed (whether or not the Participant still is living), but without prejudice to the Committee on account of any payment made before the change is
recorded. The last effective designation received by the Committee shall supersede all prior designations. 
 c. Failed
Designation. If the Committee does not make this Section 6.6 operative or if Participant dies without having effectively designated a beneficiary, the Participant’s Account shall be payable to the general beneficiary shown on the
records of the employer. If no beneficiary survives the Participant, the Participant’s Account shall be payable to his or her estate. 

6.7 Nontransferability of Awards. No award granted under the Plan may be sold, transferred, pledged, assigned, or otherwise
alienated or hypothecated, other than by will, by the laws of descent and distribution, or to the limited extent provided in Section 6.6. All rights with respect to an award granted to a Participant shall be available during his or her lifetime
only to the Participant. 
 SECTION 7 

AMENDMENT, TERMINATION AND DURATION 

7.1 Amendment, Suspension or Termination. The Board or the Committee, each in its sole discretion, may amend or terminate the
Plan, or any part thereof, at any time and for any reason. The amendment, suspension or termination of the Plan shall not, without the consent of the Participant, alter or impair any rights or obligations under any Target Award theretofore granted
to such Participant. No award may be granted during any period of suspension or after termination of the Plan. 
 7.2
Duration of the Plan. The Plan shall commence on the date specified herein, and subject to Section 7.1 (regarding the Board or the Committee’s right to amend or terminate the Plan), shall remain in effect until the 2015 Annual
General Meeting of Shareholders. 
 SECTION 8 

LEGAL CONSTRUCTION 

8.1 Gender and Number. Except where otherwise indicated by the context, any masculine term used herein also shall include the
feminine; the plural shall include the singular and the singular shall include the plural. 
 8.2 Severability. In
the event any provision of the Plan shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of the Plan, and the Plan shall be construed and enforced as if the illegal or invalid provision
had not been included. 
 8.3 Requirements of Law. The granting of awards under the Plan shall be subject to all
applicable laws, rules and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required. 
  

 -8- 

 8.4 Governing Law. The Plan and all awards shall be construed in accordance with
and governed by the laws of the State of California, but without regard to its conflict of law provisions. 
 8.5
Captions. Captions are provided herein for convenience only, and shall not serve as a basis for interpretation or construction of the Plan. 

8.6 Code Section 409A. It is intended that this Plan comply with, or be exempt from, Section 409A and any
ambiguities herein will be interpreted to so comply and/or be exempt from Section 409A. The Company and each Participant will work together in good faith to consider either (i) amendments to the Plan; or (ii) revisions to the Plan
with respect to the payment of any awards, which are necessary or appropriate to avoid imposition of any additional tax or income recognition prior to the actual payment to the Participant under Section 409A. In no event will the Company
reimburse a Participant for any taxes that may be imposed on the Participant as a result of Section 409A. 
  

 -9-2010 Amendment to the Amended and Restated 1995 Stock Option Plan

 Exhibit 10.2 

AMENDMENT TO THE MARVELL TECHNOLOGY GROUP LTD. 

AMENDED AND RESTATED 1995 STOCK OPTION PLAN 

The Marvell Technology Group Ltd. Amended and Restated 1995 Stock Option Plan (the “Plan”) is hereby amended, subject to, and
contingent upon, shareholder approval, as follows: 
 1. The first sentence of Section 3 of the Plan is hereby amended,
subject to, and contingent upon, shareholder approval, to provide in its entirety as follows: 
 “Subject to
Section 14, Shares that may be issued with respect to Awards granted under the Plan shall not exceed an aggregate of 383,440,718 Shares; provided, however, that on the first business day of each fiscal year starting January 31, 2011 or
after, and continuing until the earlier of January 31, 2013 or termination of the Plan, there shall be added to this Plan the lesser of an additional (i) 20,000,000 Shares, or (ii) 2.5% of the outstanding shares of capital stock on
such date, or (iii) an amount determined by the Board (provided that the amount approved by the Board shall not be greater than (i) or (ii)).” 

2. The 2010 Appendix, as attached hereto, is hereby inserted to the Plan, subject to, and contingent upon, shareholder approval.

 APPENDIX A 

2010 APPENDIX TO THE MARVELL TECHNOLOGY GROUP LTD. 

AMENDED AND RESTATED 1995 STOCK OPTION PLAN IN RESPECT OF 

PERFORMANCE-BASED COMPENSATION UNDER CODE SECTION 162(m) 

 

	1.	Purpose 

 The purpose of
this Appendix is to modify, to the extent set forth herein, the Marvell Technology Group Ltd. Amended and Restated 1995 Stock Option Plan (the “Plan”) with respect to Awards intended to qualify as “performance-based compensation”
under Section 162(m) of the Code. 
  

	2.	Capitalized Terms 

(a) Capitalized terms contained herein shall have the same meanings given to them in the Plan, unless otherwise provided
by this Appendix. 
 (b) In addition, in this Appendix, the following terms shall have the meanings set forth
beside them: 
 “Determination Date” means a date within ninety (90) days following the commencement of any
Performance Period, but in no event after twenty-five percent (25%) of the Performance Period has elapsed (or such other time as may be required or permitted that will not jeopardize the qualification of an Award granted under the Plan as
performance-based compensation under Section 162(m) of the Code). 
 “Fiscal Year” means the fiscal year of
the Company. 
 “Performance Goals” will have the meaning set forth in Section 4 of this Appendix.

 “Performance Period” means a Fiscal Year or such longer or shorter period as determined by the Administrator
in its sole discretion. 
  

	3.	General 

 If the
Administrator, in its discretion, decides to grant an Award intended to qualify as “performance-based compensation” under Section 162(m) of the Code, the provisions of this Appendix will control over any contrary provision in the
Plan. The Administrator, in its discretion, may set restrictions based upon the achievement of Performance Goals (as defined in Section 2 of this Appendix). The Performance Goals will be set by the Administrator on or before the Determination
Date (as defined in Section 2 of this Appendix). In granting Awards which are intended to qualify under Section 162(m) of the Code, the Administrator will follow any procedures determined by it from time to time to be necessary or
appropriate to ensure qualification of the Award under Section 162(m) of the Code (e.g., in determining the Performance Goals). Notwithstanding the foregoing, the Administrator may, in its discretion, grant Awards that are not intended to
qualify as “performance-based compensation” under Section 162(m) of the Code to such Grantees that are based on Performance Goals or other specific criteria or goals but that do not satisfy the requirements of this Appendix.

	4.	Performance Goals 

 The
granting and/or vesting of restricted or unrestricted Awards of Common Stock, stock units, performance awards and other incentives under the Plan may be made subject to the attainment of performance goals (“Performance Goals”). The
Administrator shall establish objective Performance Goals based upon one or more targeted levels of achievement relating to one or more of the following “business criteria” within the meaning of Section 162(m) of the Code: attainment
of research and development milestones, business divestitures and acquisitions, cash flow, customer retention rates or acquisition, business unit performance, earnings (which may include earnings before interest, taxes, depreciation or amortization
(EBITDA)), earnings per share, expense reduction, gross margin, growth with respect to any of the foregoing measures, market share, net income, new product development, operating income, operating margin, pre-tax profit, product release timelines,
productivity, return on capital employed, return on shareholder equity, return on sales, revenue, revenue growth, and total shareholder return. Any criteria used may be measured, as applicable, (A) in absolute terms; (B) in relative terms
over the passage of time and/or any measurement against other companies or financial or business or stock index metrics particular to the Company); (C) on a per share and/or share per capita basis; (D) against the performance of the
Company as a whole or against any affiliate(s) or a particular segment(s), a business unit(s) or a product(s) of the Company; (E) on a pre-tax or after-tax basis; and/or (F) using an actual foreign exchange rate or on a foreign exchange
neutral basis. The Performance Goals may differ from Grantee to Grantee, Performance Period to Performance Period, and from Award to Award. Prior to the Determination Date, the Administrator will determine whether any significant
element(s) will be included in or excluded from the calculation of any Performance Goal with respect to any Grantee. In all other respects, Performance Goals will be calculated in accordance with the Company’s financial statements,
generally accepted accounting principles, or under a methodology established by the Administrator prior to or at the time of the issuance of an Award and which is consistently applied with respect to a Performance Goal in the relevant Performance
Period. The Administrator will appropriately adjust any evaluation of performance under a Performance Goal to exclude (i) any extraordinary non-recurring items as described in Accounting Principles Board Opinion No. 30 and/or in
management’s discussion and analysis of financial conditions and results of operations appearing in the Company’s annual report to stockholders for the applicable year, or (ii) the effect of any changes in accounting principles
affecting the Company’s or a business units’ reported results. In addition, the Administrator will adjust any performance criteria, Performance Goal or other feature of an Award that relates to or is wholly or partially based on the number
of, or the value of, any stock of the Company, to reflect any stock split, reverse stock split, stock dividend, combination or reclassification of the Common Stock, or any other change in the number of issued Shares effected without receipt of
consideration by the Company (not counting Shares issued upon conversion or convertible securities to the Company as “effected without receipt of consideration”). 

	5.	Procedures 

 To the extent
necessary to comply with the performance-based compensation provisions of Section 162(m) of the Code, with respect to any Award granted subject to Performance Goals and intended to qualify as “performance-based compensation”
under Section 162(m) of the Code, by the Determination Date, the Administrator will, in writing, (A) designate one or more Grantees to whom an Award will be made, (B) select the Performance Goals applicable to the Performance
Period, (C) establish the Performance Goals, and amounts of such Awards, as applicable, which may be earned for such Performance Period, and (D) specify the relationship between Performance Goals and the amounts of such Awards, as
applicable, to be earned by each Grantee for such Performance Period. 
  

	6.	Maximum Award Grants During a Fiscal Year 

(a) Notwithstanding any contrary provision in the Plan, for stock awards intended to qualify as “performance-based
compensation” within the meaning of Section 162(m) of the Code, during any Fiscal Year no Grantee will receive more than an aggregate of 500,000 Shares subject to stock awards. Notwithstanding the limitation in the previous sentence,
in connection with his or her initial service as an Employee, an Employee may be granted Shares subject to stock awards covering up to an additional 500,000 Shares subject to stock awards (for the avoidance of doubt, an Employee can be granted up to
1,000,000 Shares subject to stock awards intended to qualify as “performance-based compensation” in connection with his or her initial service as an Employee). The foregoing limitations will be adjusted proportionately in connection with
any change in the Company’s capitalization as described in Section 14 of the Plan. 
 (b)
Notwithstanding any contrary provision in the Plan, for stock units intended to qualify as “performance-based compensation” within the meaning of Section 162(m) of the Code, during any Fiscal Year no Grantee will receive more
than an aggregate of 500,000 stock units. Notwithstanding the limitation in the previous sentence, in connection with his or her initial service as an Employee, an Employee may be granted up to an additional 500,000 stock units (for the avoidance of
doubt, an Employee can be granted up to 1,000,000 Shares subject to stock units intended to qualify as “performance-based compensation” in connection with his or her initial service as an Employee). The foregoing limitations will be
adjusted proportionately in connection with any change in the Company’s capitalization as described in Section 14 of the Plan. 

 (c) Notwithstanding any contrary provision in the Plan, for performance
awards intended to qualify as “performance-based compensation” within the meaning of Section 162(m) of the Code, during any Fiscal Year no Grantee will receive more than an aggregate of 500,000 Shares subject to performance
awards. Notwithstanding the limitation in the previous sentence, in connection with his or her initial service as an Employee, an Employee may be granted up to an additional 500,000 Shares subject to performance awards (for the avoidance of doubt,
an Employee can be granted up to 1,000,000 Shares subject to stock awards intended to qualify as “performance-based compensation” in connection with his or her initial service as an Employee). The foregoing limitations will be adjusted
proportionately in connection with any change in the Company’s capitalization as described in Section 14 of the Plan. 

(d) Notwithstanding any contrary provision in the Plan, for any stock-based awards denominated in cash intended to qualify
as “performance-based compensation” within the meaning of Section 162(m) of the Code, during any Fiscal Year no Grantee will receive more stock-based awards having an initial value greater than $5,000,000. Notwithstanding the
limitation in the previous sentence, in connection with his or her initial service as an Employee, an Employee may be granted stock-based awards denominated in cash having an initial value of an additional $5,000,000 (for the avoidance of doubt, an
Employee can be granted stock-based awards denominated in cash with an initial value up to $10,000,000 intended to qualify as “performance-based compensation” in connection with his or her initial service as an Employee). 

(e) For the avoidance of doubt, the limitations set forth in Sections 6(a)-(d) of this Appendix apply only to each
type of award in any Fiscal Year. Therefore, an Employee may receive the maximum grant in any Fiscal Year with respect to each type of award intended to qualify as “performance-based compensation” within the meaning of Section 162(m)
of the Code. 
  

	7.	Additional Limitations 

Notwithstanding any other provision of the Plan, any Award which is granted to a Grantee and is intended to constitute qualified
performance-based compensation under Section 162(m) of the Code will be subject to any additional limitations set forth in the Code (including any amendment to Section 162(m)) or any regulations and ruling issued thereunder that
are requirements for qualification as qualified performance-based compensation as described in Section 162(m) of the Code, and the Plan will be deemed amended to the extent necessary to conform to such requirements. 

	8.	Determination of Amounts Earned 

Following the completion of each Performance Period, the Administrator will certify in writing whether the applicable Performance Goals
have been achieved for such Performance Period. A Grantee will be eligible to receive payment pursuant to an Award intended to qualify as “performance-based compensation” under Section 162(m) of the Code for a Performance Period
only if the Performance Goals for such period are achieved. If the Performance Goals for a Performance Period are not achieved, a Grantee will not receive payment of any Award based on such Performance Goals and will not receive a grant of any
make-up Award for such Performance Period or any other newly-granted Award for such Performance Period. In determining the amounts earned by a Grantee pursuant to an Award intended to qualified as “performance-based compensation” under
Section 162(m) of the Code, the Administrator will have the right to (A) reduce or eliminate (but not to increase) the amount payable at a given level of performance to take into account additional factors that the Administrator
may deem relevant to the assessment of individual or corporate performance for the Performance Period, but only to the extent such factors and their impact are determined when the Award is granted, (B) determine what actual Award, if any, will
be paid in the event of a termination of employment as the result of a Grantee’s death or disability or upon a Change in Control or in the event of a termination of employment following a Change in Control prior to the end of the Performance
Period, and (C) determine what actual Award, if any, will be paid in the event of a termination of employment other than as the result of a Grantee’s death or disability prior to a Change in Control and prior to the end of the Performance
Period to the extent an actual Award would have otherwise been achieved had the Grantee remained employed through the end of the Performance Period. 
  

	9.	Duration of Appendix 

This Appendix will continue in effect until the 2015 Annual General Meeting of Shareholders, subject to Board’s right to amend or
terminate in Section 15 of the Plan.

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