Document:

EX-10.26

 Exhibit 10.26 
 SECOND AMENDED AND RESTATED 
 KEY EMPLOYEE SEVERANCE AGREEMENT

  

					
	 PARTIES:
	    	 Planar Systems, Inc.
 1195
NW Compton Drive
 Beaverton, Oregon 97006
	  	(the “Company”)
			
		    	 Ryan W. Gray
 2413 Remington
Drive
 West Linn, Oregon 97068
	  	(“Employee”)
			
	 DATE:
	    	November 25, 2014	  	(“Effective Date”)

 BACKGROUND: 
 The Board of Directors of the Company considers the maintenance of sound and vital management to be essential to protecting and enhancing the best interests of the Company and its shareholders. In this
connection, and in order to induce Employee to remain employed by the Company and remain focused on Employee’s important work for the Company in the face of longer-term uncertainties including a potential change of control of the Company and
the potential impact of such uncertainties on Employee’s position with the Company, this Agreement, which has been approved by the Compensation Committee of the Company’s Board of Directors, sets forth the severance benefits that the
Company will provide to Employee in the event Employee’s employment with the Company is terminated under the circumstances described in this Agreement. 
 AGREEMENT: 
 NOW, THEREFORE, for good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 
 ARTICLE 1 

DEFINITIONS 
 1.1 “Board” shall mean the Board of Directors of the Company. 
 1.2 “Cause” shall mean any of the following: 
 (i)
Employee’s fraud or misrepresentation; 
 (ii) Employee’s theft or embezzlement of Company assets; 

(iii) Employee’s commission of a felony involving moral turpitude; 

(iv) Employee’s continued failure to satisfactorily perform the duties reasonably assigned to Employee (including observing all
applicable Company employment 

  
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FIRST AMENDED AND RESTATED KEY EMPLOYEE SEVERANCE AGREEMENT (RYAN W. GRAY) 

 
polices), for a period of thirty (30) days after a written demand for such satisfactory performance that specifically and with reasonable detail identifies the manner in which it is alleged
that Employee has not satisfactorily performed such duties; or 
 (v) Employee’s material breach of this Agreement or other
agreement with the Company that, if curable, has not been cured within thirty (30) days after written notice to Employee of such breach. 
 1.3 “Change in Control” shall mean the occurrence of any of the following events: 
 (i) The approval by the Company’s shareholders of a merger, statutory plan of exchange or consolidation to which the Company is a party, if the individuals and entities who were shareholders of the
Company immediately prior to the effective date of such merger, plan of exchange or consolidation would have beneficial ownership (as defined in Rule 13d-3 under the Securities Exchange Act of 1934) of
less than fifty percent (50%) of the total combined voting power for election of directors of the surviving corporation immediately following the effective date of such merger or consolidation; 

(ii) The acquisition (other than directly from the Company) by any person or entity, or group of associated persons or entities acting in
concert, of direct or indirect beneficial ownership (as defined in Rule 13d-3 under the Securities Exchange Act of 1934) of securities of the Company representing twenty-five percent (25%) or more of the total combined voting power of the
Company’s then issued and outstanding securities; 
 (iii) The approval by the Company’s shareholders of the sale,
lease, exchange or other transfer (in one or a series of related transactions) of all or substantially all of the assets of the Company to any person or entity that is not a wholly owned subsidiary of the Company; 

(iv) The approval by the Company’s shareholders of any plan or proposal for the liquidation or dissolution of the Company; or

 (v) A change in the Board with the result that the members of the Board on the Effective Date hereof (the “Incumbent
Directors”) no longer constitute a majority of such Board, provided that any person becoming a director whose election or nomination for election was supported by a majority of the Incumbent Directors shall be considered an Incumbent Director
for purposes hereof. 
 1.4 “Company” shall mean Planar Systems, Inc. and any successor in
interest by way of consolidation, operation of law, merger or otherwise. 
 1.5 “Disability” shall mean the
inability of Employee to perform, with reasonable accommodation, if necessary, any essential functions of his or her position under this Agreement because of physical or mental incapacity for a period of one hundred twenty (120) days in the
aggregate during any twelve (12) -month period. 

  
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FIRST AMENDED AND RESTATED KEY EMPLOYEE SEVERANCE AGREEMENT (RYAN W. GRAY) 

 1.6 “Good Reason” shall mean that any one or more of the following events
occurs or condition exists, without Employee’s express written consent; provided, however, that Employee shall have given written notice to Company of such event or condition alleged to comprise “Good Reason” and thirty (30) days
shall have passed with no cure having been made: 
 (i) A reduction by the Company in Employee’s annual base salary or any
failure to pay Employee, when due, any compensation or benefits to which Employee is entitled; 
 (ii) A significant reduction
by the Company in the total benefits available to Employee under cash incentive, stock incentive or other employee benefit plans after a Change in Control as compared to the total package of such benefits as in effect prior to the Change in Control;

 (iii) A requirement by the Company that Employee be based anywhere other than within 25 miles of Beaverton, Oregon;

 (iv) The Company’s failure to obtain an agreement, reasonably satisfactory to Employee, from any successor or assign of
the Company to assume and agree to perform the Company’s obligations under this Agreement; 
 (v) Reassignment of Employee
to a different title, job or responsibilities that result in a significant decrease in the level of responsibility of Employee after a Change in Control as compared with Employee’s level of responsibility for the Company’s operations prior
to the Change in Control; provided that Good Reason shall not exist if Employee continues to have substantially the same or greater responsibilities for the former Company operations after the Change in Control as Employee had prior to the Change in
Control even if the former Company operations are a subsidiary or division of the surviving company; or 
 (iv) Any material
breach of this Agreement by the Company. 
 ARTICLE 2 

EMPLOYMENT 

2.1 Employment. Employee is currently employed by the Company as Vice President, Finance. The Company and Employee acknowledge
that either party may terminate this employment relationship at any time for any reason or for no reason at all, subject to the obligation of the Company to provide the severance benefits set forth in this Agreement in accordance with the terms
hereof. 
 2.2 Duties. Employee shall devote Employee’s full business time and attention to the business of the
Company and shall use Employee’s best efforts to fulfill the duties of his / her position of employment. Employee shall comply with the Company’s policies and procedures to the extent that they are not inconsistent with this Agreement, in
which case the provisions of this Agreement shall prevail. 

  
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FIRST AMENDED AND RESTATED KEY EMPLOYEE SEVERANCE AGREEMENT (RYAN W. GRAY) 

 2.3 Term and Term of Change in Control Severance Benefits. The term of this Agreement
with respect to all terms, provisions, rights and obligations hereunder other than (A) those under Section 3.4(ii) hereof relating to Employee’s termination by the Company without Cause where a Change in Control has
occurred, and (B) those under Section 3.7 hereof relating to termination by Employee for Good Reason following a Change in Control (the “Term”) shall begin on the Effective Date hereof and remain in effect until the earlier of:
(i) termination of this Agreement pursuant to Article 3 hereof or (ii) March 1, 2016; provided, however, that commencing on March 1, 2016 and each anniversary thereafter, the Term shall automatically be extended for one additional
year unless at least 90 days prior to such anniversary, either the Employee or the Company shall have given written notice to the other party that the Term shall not be extended; provided further, however, that the term of this Agreement with
respect to the terms, provisions, rights and obligations of set forth in (X) Section 3.4(ii) hereof relating to Employee’s termination by the Company without Cause where a Change in Control has occurred, and (Y) Section 3.7
hereof relating to termination by Employee for Good Reason following a Change in Control (the “Term of Change in Control Severance Benefits”) shall begin on the Effective Date hereof and remain in effect until the first to occur of:
(i) termination of this Agreement pursuant to Article 3 hereof, or (ii) March 1, 2016 (which date shall not, for purposes of determining the duration of the Term of Change in Control Severance Benefits, at any time or for any reason, be
extended or be deemed to be extended for any additional period). If a Change in Control shall have occurred during the Term of Change in Control Severance Benefits, the Agreement, including Sections 3.4(ii) and 3.7 hereof, shall remain in effect
until the earlier of: (i) termination pursuant to Article 3 of this Agreement or (ii) twenty-four (24) months following the Change in Control. 
 ARTICLE 3 
 TERMINATION 

3.1 Termination. This Agreement may be terminated by either party by providing the other party with written notice that indicates
the specific termination provision in this Agreement relied upon and sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination under the provision so indicated (a “Notice of Termination”). For
purposes of Article 3, if Employee is assigned additional or different titles, tasks or responsibilities from those currently held or assigned, consistent with Employee’s general areas of professional expertise and with no decrease in
annual base compensation, whether with the Company or any subsidiary of the Company, such circumstances shall not constitute or be deemed to constitute a termination of Employee’s employment or of this Agreement. 

3.2 Employee’s Resignation. Employee may terminate this Agreement and Employee’s employment upon thirty
(30) days’ advance Notice of Termination. Upon termination by Employee pursuant to this Section 3.2, Company shall pay Employee within thirty days after termination: 

(i) Base salary and annual bonus, if any, earned and payable through the effective date of such termination, together with any other
compensation or benefits that have been earned or become payable as of the date of termination but have not yet been paid to Employee; and 

  
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FIRST AMENDED AND RESTATED KEY EMPLOYEE SEVERANCE AGREEMENT (RYAN W. GRAY) 

 (ii) Reimbursement of business expenses incurred through the effective date of such
termination (items 3.2 (i) and (ii) shall be referred to collectively as the “Accrued Obligations”). 

3.3 Termination by the Company for Cause. Company may terminate this Agreement and Employee’s employment immediately for
Cause upon giving Notice of Termination. Upon termination by Company for Cause pursuant to this Section 3.3, Employee shall be paid the Accrued Obligations. 
 3.4 Termination by the Company Without Cause. The Company may terminate this Agreement and Employee’s employment without Cause upon thirty (30) days’ advance Notice of Termination;
provided, however, that the Company may in its sole discretion make termination of the Agreement and Employee’s employment effective immediately upon Notice of Termination, in which case, in addition to the payments otherwise required by this
Section 3.4, Employee shall be paid his base salary through a notice period of thirty (30) days. The Company’s failure to at any time renew the Term of this Agreement under Section 2.3 shall be deemed a termination of this
Agreement and Employee’s employment without Cause; provided, however, the Company shall have no obligation whatsoever to extend the Term of Change in Control Severance Benefits and the failure to extend the Term of Change in Control Severance
Benefits shall, at no time, constitute or be deemed to constitute a termination of this Agreement or of Employee’s employment (including a termination of Employee’s employment without Cause). If the Company terminates Employee’s
employment without Cause pursuant to this Section 3.4, Employee shall be entitled to receive the Accrued Obligations and, subject to satisfaction of the Release of Claims requirement specified in Section 3.12 below, shall be entitled to
the benefits specified under either subparagraph (i) or subparagraph (ii) below: 
 (i) No Change in Control Has
Occurred. If there has been no Change in Control within twenty-four (24) months prior to Employee’s termination pursuant to this Section 3.4 or within ninety (90) days following Employee’s termination pursuant to this
Section 3.4: 
 A. For a period of twelve (12) months following the effective date of Employee’s
termination, the Company shall continue to pay Employee his/ her base salary at the rate in effect just prior to the time a Notice of Termination is delivered, payable according to the Company’s normal payroll practices; provided, however, that
the payments for the first six months following Employee’s termination in excess of the lesser of (i) two times the Employee’s base salary, and (ii) $490,000 (or such greater amount as may then be permitted under Treasury
Regulation 409A-1(b)(9)(iii)(A) or any successor thereto), shall be deferred, and shall not be paid, until the first day of the seventh month following Employee’s termination; 

B. Company shall make available to Employee, at the Company’s expense, outplacement services provided that
(i) the outplacement program and the provider of which shall be approved by Company, (ii) the outplacement services are performed within 12 months following the effective date of Employee’s termination, and (iii) the total cost
of such Company-paid outplacement services shall not exceed $4,000; and 

  
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FIRST AMENDED AND RESTATED KEY EMPLOYEE SEVERANCE AGREEMENT (RYAN W. GRAY) 

 C. If Employee elects to continue his Company-provided group health benefits
at the level in effect as of the date of termination under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), the Company shall pay the premiums for Employee’s COBRA continuation coverage (for Employee and
Employee’s dependents, if applicable) for a period of up to eighteen (18) months. 
 (ii) Change in Control Has
Occurred. Notwithstanding anything herein to the contrary, upon the occurrence of a Change in Control all unvested restricted shares of Company stock and stock options held by Employee that are subject to performance-based vesting provisions
shall hereby be amended to eliminate such performance-based vesting provisions and substitute time-based vesting provisions on the basis that such unvested shares and/or options shall vest ratably over the period commencing on the date of the Change
in Control and ending on the last day of the measuring period to be used for determining whether the performance criteria would have been satisfied. If Employee’s termination pursuant to this Section 3.4 occurs within twenty-four
(24) months following a Change in Control or if Employee is terminated pursuant to this Section 3.4 and a Change in Control occurs within ninety (90) days following Employee’s termination: 

A. Each month for a period of twelve (12) months following the effective date of Employee’s termination, the
Company shall continue to pay Employee: (i) Employee’s base salary at the rate in effect just prior to the time a Notice of Termination is delivered plus (ii) one-twelfth of 100% of Employee’s annual target bonus amount (or other
variable compensation program) for the year in which Notice of termination is delivered. Payments shall be made according to the Company’s normal payroll practices; provided, however, that the payments for the first six months following
Employee’s termination in excess of the lesser of (i) two times the Employee’s base salary, and (ii) $490,000 (or such greater amount as may then be permitted under Treasury Regulation 409A-1(b)(9)(iii)(A) or any successor
thereto), shall be deferred, and shall not be paid, until the first day of the seventh month following Employee’s termination; 
 B. Company shall make available to Employee, at the Company’s expense, outplacement services provided that (i) the outplacement program and the provider of which shall be approved by Company,
(ii) the outplacement services are performed within 12 months following the effective date of Employee’s termination, and (iii) the total cost of such Company-paid outplacement services shall not exceed $4,000; 

C. If Employee elects to continue his Company-provided group health benefits at the level in effect as of the date of
termination under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), the Company shall pay the premiums for Employee’s COBRA continuation coverage (for Employee and Employee’s dependents, if applicable) for a
period of up to eighteen (18) months; and 

  
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 D. All outstanding options to purchase stock of the Company (or any
successor) held by Employee that are subject to time-based vesting and all grants of restricted Company stock held by Employee that are subject to time based vesting shall become fully vested as of the effective date of Employee’s termination.
In the event that there is a Change in Control within 90 days after Employee’s employment was terminated by the Company pursuant to this Section 3.4 and stock options or stock grants were terminated or forfeited to the Company upon
Employee’s employment termination pursuant to their terms (because the Change in Control had not occurred at the time of employment termination), the Company shall pay Employee the value of the terminated or forfeited options or shares based
upon the per-share proceeds payable to the shareholders of the Company upon such Change in Control or, if the Change in Control is of a type that does not result in proceeds or consideration being paid or payable to shareholders of the Company, the
value of the terminated or forfeited options or shares shall equal the average closing price of the Company’s Common Stock for the prior sixty (60) trading days ending on the trading day prior to the effective date of the Change in
Control. 
 3.5 Termination in the Event of Death. This Agreement and Employee’s employment shall terminate
automatically upon Employee’s death. Upon termination pursuant to this Section 3.5, the Company shall: 
 (i) Pay the
Accrued Obligations to Employee’s spouse or as otherwise required by state law; and 
 (ii) Employee’s estate or a
person who acquired the right to exercise Employee’s Company stock options by bequest or inheritance or otherwise by reason of the death of Employee, shall have until the earlier of (a) the option expiration date or (b) the date that
is twelve (12) months after the date of Employee’s death to exercise Company stock options that are vested as of the date of Employee’s death. 
 3.6 Termination in the Event of Disability. Company may terminate this Agreement and Employee’s employment in the event of Employee’s Disability. Employee shall cooperate with the Company
to provide information and submit to such examinations as the Company may find necessary to make a determination regarding Employee’s Disability. Upon termination pursuant to this Section 3.6, the Company Shall: 

(i) Pay the Accrued Obligations to Employee; and 
 (ii) Employee, Employee’s estate or such other party who has the right to exercise Employee’s Company stock options by reason of the Disability of Employee, shall have until the earlier of
(a) the option expiration date or (b) the date that is twelve (12) months after the date of Employee’s termination due to Employee’s Disability to exercise Company stock options that are vested as of the date of
Employee’s termination. 

  
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 3.7 Termination by Employee for Good Reason Following Change in Control. Within
twenty-four (24) months following a Change in Control or within ninety (90) days prior to a Change in Control, Employee may terminate this Agreement and his employment with the Company for Good Reason upon delivery of a Notice of
Termination. Upon Employee’s termination for Good Reason pursuant to this Section 3.7, Employee shall be entitled to receive the Accrued Obligations and, subject to satisfaction of the Release of Claims requirement specified in
Section 3.13 below: 
 A. Each month for a period of twelve (12) months following the effective date of
Employee’s termination, the Company shall continue to pay Employee: (i) Employee’s base salary at the rate in effect just prior to the time a Notice of Termination is delivered plus (ii) one-twelfth of 100% of Employee’s
annual target bonus amount (or other variable compensation program) for the year in which Notice of termination is delivered. Payments shall be made according to the Company’s normal payroll practices; provided, however, that the payments for
the first six months following Employee’s termination in excess of the lesser of (i) two times the Employee’s base salary, and (ii) $490,000 (or such greater amount as may then be permitted under Treasury Regulation
409A-1(b)(9)(iii)(A) or any successor thereto), shall be deferred, and shall not be paid, until the first day of the seventh month following Employee’s termination; 

B. Company shall make available to Employee, at the Company’s expense, outplacement services provided that
(i) the outplacement program and the provider of which shall be approved by Company, (ii) the outplacement services are performed within 12 months following the effective date of Employee’s termination, and (iii) the total cost
of such Company-paid outplacement services shall not exceed $4,000; and 
 C. All outstanding options to purchase
stock of the Company (or any successor) held by Employee that are subject to time-based vesting and all grants of restricted Company stock held by Employee that are subject to time based vesting shall become fully vested as of the effective date of
Employee’s termination. In the event that there is a Change in Control within 90 days after Employee’s employment was terminated by the Company pursuant to this Section 3.7 and stock options or stock grants were terminated or
forfeited to the Company upon Employee’s employment termination pursuant to their terms (because the Change in Control had not occurred at the time of employment termination), the Company shall pay Employee the value of the terminated or
forfeited options or shares based upon the per-share proceeds payable to the shareholders of the Company upon such Change in Control or, if the Change in Control is of a type that does not result in proceeds or consideration being paid or payable to
shareholders of the Company, the value of the terminated or forfeited options or shares shall equal the average closing price of the Company’s Common Stock for the prior sixty (60) trading days ending on the trading day prior to the
effective date of the Change in Control. 

  
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 3.8 Options and Restricted Stock. Any options or restricted stock awarded to Employee
shall, in the event of a termination of Employee’s employment and except as otherwise provided in this Article 3, be governed by the provisions of the applicable award agreement; provided that the accelerated vesting and stock option
exercise provisions of this Article 3 shall, if triggered, control in the event of any inconsistency with any such agreement and the stock option or stock restriction plan and all related agreements. 

3.9 No Obligation of Employee to Mitigate. The amount of any payment provided for in this Article 3 shall not be reduced,
offset or subject to recovery by the Company by reason of any compensation earned by Employee as the result of employment by another employer after the date of termination, or otherwise. 

3.10 Entire Termination Payment. The compensation provided for in this Article 3 shall constitute Employee’s sole remedy
for termination or breach of this Agreement. Under no circumstances shall Employee be entitled to severance pay and related benefits under more than one section of this Agreement. 

3.11 Resignation from Duly Elected or Appointed Positions. Upon termination of Employee’s employment with the Company for any
reason, Employee shall offer his / her resignation as an officer or director of the Company and / or of any subsidiary or affiliate of the Company in which he / she holds such positions. 

3.12 Section 280G Provision. 
 (i) Notwithstanding anything contained in this Agreement to the contrary, to the extent that any payment, distribution, transfer, benefit or other event with respect to the Company or a successor or
direct or indirect subsidiary or affiliate of the Company (or any successor or affiliate of any of them, and including any benefit plan of any of them), arising in connection with an event described in Section 280G(b)(2)(A)(i) of the Internal
Revenue Code (the “Code”), occurring after the Effective Date, to or for the benefit of Employee or Employee’s dependents, heirs or beneficiaries (whether such payment, distribution, transfer, benefit or other event occurs pursuant to
the terms of this Agreement or otherwise, but determined without regard to any additional payments required under this Article 3) (each a “Payment” and collectively the “Payments”) is, was or will be subject to the excise
tax imposed by Section 4999 of the Code and any successor provision or any comparable provision of state or local income tax law (collectively “Section 4999”), then Employee will receive the greater of (A) the Payments less
any applicable excise tax or (B) the amount payable if the Company reduces the Payments (but not below zero) so that the maximum amount of the Payments shall be One Dollar ($1) less than the amount that would cause the Payments to be
subject to the excise tax imposed by Section 4999. The Company shall reduce or eliminate the Payments by first reducing or eliminating any cash severance benefits, then reducing or eliminating any accelerated vesting of stock options, then
reducing or eliminating any accelerated vesting of restricted stock, then reducing or eliminating any other remaining Payments. The preceding provisions of this Section 3.12 shall take precedence over the provisions of any other plan,
arrangement or agreement governing Employee’s rights and entitlements to any benefits or compensation. 

  
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 (ii) The determination that a Payment is subject to an excise tax (and the amount of such
tax) or a determination of the amount by which the Payments must be reduced to reduce the amount of Payments to One Dollar ($1) less than the amount that would cause the Payments to be subject to the excise tax imposed by Section 4999 (the
“Reduction Amount”) shall be made in writing by a certified public accounting firm selected by the Company. 
 3.13
Release of Claims Requirement. As a condition of receiving severance pay and benefits pursuant to Sections 3.4 and 3.7 of this Article 3, at the time of termination and within twenty-one (21) days of Company delivering the release of
claims to Employee, Employee shall enter into and not revoke a release of all claims against the Company substantially in the form attached hereto as Exhibit A updated to reflect such changes in the law as Company may deem necessary or
advisable. The Company shall deliver the release of claims to Employee within 30 days after termination. 
 3.14
Non-disparagement. Neither party will make any malicious, disparaging or false remarks about the other or their respective officers, directors, employees, heirs or assigns. The parties further agree to refrain from making any negative
statements regarding the other to any third parties or any statements which could be construed as having or causing a diminishing effect on the other’s reputation, goodwill or business. 

ARTICLE 4 

CONFIDENTIALITY/PROPRIETARY RIGHTS 
 Employee acknowledges that the Confidentiality and Proprietary Rights Agreement Employee entered into with Planar dated December 9, 2005 (the “Confidentiality Agreement”), a copy of which
is attached hereto as Exhibit B, remains in full force and effect. 
 ARTICLE 5 

GENERAL PROVISIONS 
 5.1 Notices. All notices, requests and demands given to or made pursuant hereto shall, except as otherwise specified herein, be in writing and shall be deemed to have been duly given to any party
when delivered personally (by courier service or otherwise), when delivered by facsimile and confirmed, or three (3) days after being mailed by first-class mail, postage prepaid and return receipt requested in each case to the applicable
address as set forth at the beginning of this Agreement. Either party may change its address, by notice to the other party given in the manner set forth in this Section 5.1. 

5.2 Caption. The various headings or captions in this Agreement are for convenience only and shall not affect the meaning or
interpretation of this Agreement. 
 5.3 Governing Law/Forum. The validity, construction and performance of this
Agreement shall be governed by and construed in accordance with the laws of the state of Oregon. The exclusive forum for any disputes arising under this Agreement that are not subject to arbitration shall be the appropriate state or federal court
located in Portland, Oregon. 

  
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 5.4 Mediation. In case of any dispute arising under this Agreement that cannot be
settled by reasonable discussion within 60 days after either party has notified the other party of the existence of a dispute, the parties agree that, prior to commencing any arbitration proceeding as contemplated by Section 5.5 below, they
will first engage the services of a professional mediator agreed upon by the parties and attempt in good faith to resolve the dispute through confidential nonbinding mediation. Each party shall bear one-half (1/2) of the mediator’s fees
and expenses and shall pay all of its own attorneys’ fees and expenses related to the mediation. 
 5.5 Arbitration.
Any dispute concerning the interpretation, construction, breach or enforcement of this Agreement or arising in any way from Employee’s employment with the Company or termination of employment shall be submitted to final and binding arbitration.
The arbitration is to be conducted before a single arbitrator in Portland, Oregon. The arbitration shall be conducted pursuant to the rules of the American Arbitration Association. Employee and the Company agree that, except for the Company’s
right to ask a court for injunctive relief to enforce the Confidentiality Agreement, the procedures outlined in Section 5.4 and this Section 5.5 are the exclusive method of dispute resolution. 

5.6 Attorneys’ Fees. If any action at law or in equity is taken to enforce or interpret the terms of this Agreement, the
prevailing party shall be entitled to reasonable attorneys’ fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled, including fees and expenses on appeal. In any dispute resolved through
arbitration under Section 5.5, the arbitrator shall have sole discretion to determine whether or not fees, costs or disbursements shall be awarded to a party. 
 5.7 Construction. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement
shall be prohibited by or invalid under applicable law, such provision shall be ineffective only to the extent of such prohibition or invalidity without invalidating the remainder of such provision or the remaining provisions of this Agreement. The
severance benefits provided herein are in lieu of any other severance plan or provision offered by the Company. 
 5.8
Waivers. No failure on the part of either party to exercise, and no delay in exercising, any right or remedy hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right or remedy hereunder preclude any
other or further exercise thereof or the exercise of any other right or remedy granted hereby or by any related document or by law. 
 5.9 Successors and Assigns. This Agreement shall be binding on and inure to the benefit of the Company and its successors and assigns, and shall be binding on Employee, his administrators,
executors, legatees and heirs. Because this Agreement arises in connection with Employee’s employment with the Company, which is personal in nature, it shall not be assigned by Employee and any purported assignment by Employee shall be void and
without force or effect. 
 5.10 Modification. This Agreement may not be and shall not be modified or amended except by
written instrument signed by the parties hereto. 

  
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 5.11 Entire Agreement. Except as expressly stated in this Agreement, this Agreement
constitutes the entire agreement and understanding between the parties hereto in reference to all the matters herein agreed on. This Agreement replaces and supersedes all prior agreements or understandings of the parties hereto with respect to the
subject matter hereof, including, without limitation, that certain First Amended and Restated Key Employee Severance Agreement dated November 6, 2013. 

  
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FIRST AMENDED AND RESTATED KEY EMPLOYEE SEVERANCE AGREEMENT (RYAN W. GRAY) 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed
and delivered as of the day and year first above written. 
  

					
	EMPLOYEE	 	PLANAR SYSTEMS, INC.
			
	 /S/ RYAN W. GRAY
	 	By:	 	 /S/ GERALD K. PERKEL

	Ryan W. Gray	 		 	Gerald K. Perkel
		 		 	President & Chief Executive Officer

  
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FIRST AMENDED AND RESTATED KEY EMPLOYEE SEVERANCE AGREEMENT (RYAN W. GRAY) 

 EXHIBIT A 

RELEASE OF CLAIMS 
 This Document Affects Important Legal Rights You May Have 

Please Read It Carefully Before Signing 
 For and in consideration of the severance benefits described in the Employee Employment Agreement dated as of             ,
201         between Planar Systems, Inc. (the “Company”), and
                         (the “Employee”), and for other good and valuable consideration, Employee hereby
releases the Company, its divisions, affiliates, subsidiaries, parents, branches, predecessors, successors, assigns, officers, directors, trustees, employees, agents, shareholders, administrators, representatives, attorneys, insurers and
fiduciaries, past, present and future (the “Released Parties”) from any and all claims of any kind, whether in tort, contract, or under local, state or federal statute, which Employee now has or may have against the Released Parties,
whether known or unknown to Employee, by reason of facts which have occurred on or prior to the date Employee signs this Release of Claims (“Release”). Employee understands and acknowledges that this Release includes, but is not limited
to, any claim for reinstatement, re-employment, attorneys’ fees or wages, stock or stock options, or additional compensation in any form, and any claim, including but not limited to claims for breach of
contract, defamation, promissory estoppel, wrongful termination, whistleblower or other retaliation claims, and discrimination and/or harassment based on age, sex, race, religion, color, creed, disability, citizenship, national origin, military
service, ancestry, sexual orientation or any other factor protected by federal, state or local law (such as claims arising Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, the Civil Rights Act of 1991, the
Post Civil War Civil Rights Act, the Equal Pay Act, the Americans with Disabilities Act, the Fair Labor Standards Act, the Family Medical Leave Act of 1993, the Worker Adjustment Retraining and Notification Act (WARN); Uniformed Services Employment
and Re-employment Rights Act, Employee Order 11246, the Sarbanes-Oxley Act, all as amended) relating to Employee’s employment or association with the Company or the termination of that employment and
association. 
 [* * * To be completed if Employee is over age 40 on date of termination.] In accordance with the
Age Discrimination in Employment Act and Older Workers’ Benefit Protection Act (collectively, the “Act”), Employee acknowledges that (1) he has been, and hereby is, advised in writing to consult with an attorney prior to
executing this Release; (2) he is aware of certain rights to which he may be entitled under the Act; (3) as consideration for executing this Release, Employee has received additional benefits and compensation of value to which he would
otherwise not be entitled; (4) by signing this Release, he will not waive rights or claims under the Act which may arise after the execution of this Release; (5) Employee has been given a period of at least 21 days to consider this offer;
(6) in the event Employee has not executed this Release on or before
                            , the offer shall expire; (7) in the event Employee signs the Release
prior to 21 days, he does so voluntarily; (8) any changes to the terms of the Agreement, whether material or immaterial shall not re-start the 21-day consideration
period; (9) Employee has a period of seven days from the date of execution in which to revoke this Release by written notice to
                            ; (10) in the event Employee does not exercise his right to revoke
this Release, the Release shall become effective on the date (the “Effective Date”) immediately following the seven day revocation period described above. 

  
 EXHIBIT A
TO KEY EMPLOYEE SEVERANCE AGREEMENT (Release of Claims) 

 Employee understands that by signing below he is voluntarily giving up any right that
Employee may have to sue or bring other claims against the Released Parties. Finally, Employee has not been forced or pressured in any manner whatsoever to sign this Release, and Employee agrees to all of its terms voluntarily. 

This Release is final and binding and may not be changed or modified except in a writing signed by an authorized representative of the
parties. 
 The severance check(s) will be mailed to Employee’s last address on file with Company. 

 

					
	Signature:
                                         
                           	 		 	Date:
                                         
                           
			
	[Printed name]
                                         
                   	 		 	

  
 EXHIBIT A
TO KEY EMPLOYEE SEVERANCE AGREEMENT (Release of Claims) 

 EXHIBIT B 

CONFIDENTIALITY AND PROPRIETARY RIGHTS AGREEMENT 

  
 EXHIBIT B
TO KEY EMPLOYEE SEVERANCE AGREEMENT (Confidentiality Agreement)EX-10.27

 Exhibit 10.27 
 INDEMNIFICATION AGREEMENT 
 THIS INDEMNIFICATION AGREEMENT (the
“Agreement”) is made and entered into effective as of November 25, 2014 between Planar Systems, Inc., an Oregon corporation (the “Company”), and Ryan W. Gray (“Indemnitee”). 

WHEREAS, highly competent persons have become more reluctant to serve corporations as directors or in other capacities unless they are
provided with adequate protection through insurance or adequate indemnification against inordinate risks of claims and actions against them arising out of their service to and activities on behalf of the corporation; 

WHEREAS, the Company’s Articles of Incorporation require indemnification of the officers and directors of the Company, and the
Indemnitee may also be entitled to indemnification pursuant to the Oregon Business Corporation Act (“OBCA”). 

WHEREAS, Indemnitee does not regard the protection available under the Articles of Incorporation and the OBCA and insurance as adequate
in the present circumstances, and may not be willing to serve as an officer or director without adequate protection, and the Company desires Indemnitee to serve in such capacity; 

WHEREAS, the Articles of Incorporation and the OBCA expressly provide that the indemnification provisions set forth therein are not
exclusive, and thereby contemplate that contracts may be entered into between the Company and members of the board of directors, officers and other persons with respect to indemnification; and 

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

NOW, THEREFORE, in consideration of Indemnitee’s agreement to serve, or continue to serve, as a director or officer of the Company
after the date hereof, the parties hereto agree as follows: 
 1. Indemnity of Indemnitee. The Company hereby agrees to
hold harmless and indemnify Indemnitee to the fullest extent permitted by law, as such may be amended from time to time. In furtherance of the foregoing indemnification, and without limiting the generality thereof: 

(a) Proceedings Other Than Proceedings by or in the Right of the Company. Indemnitee shall be entitled to the rights of
indemnification provided in this Section l(a) if, by reason of his Corporate Status (as hereinafter defined), the Indemnitee is, or is threatened to be made, a party to or participant in any Proceeding (as hereinafter defined) other than a
Proceeding by or in the right of the Company. Pursuant to this Section 1(a), Indemnitee shall be indemnified against all Expenses (as hereinafter defined), judgments, penalties, fines and amounts paid in settlement actually and reasonably
incurred by him, or on his behalf, in connection with such Proceeding or any claim, issue or matter therein, 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 the Indemnitee’s conduct was unlawful. 

  
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AGREEMENT (Ryan W. Gray) 

 (b) Proceedings by or in the Right of the Company. Indemnitee shall be entitled to
the rights of indemnification provided in this Section 1(b) if, by reason of his Corporate Status, the Indemnitee is, or is threatened to be made, a party to or participant in any Proceeding brought by or in the right of the Company. Pursuant
to this Section 1(b), Indemnitee shall be indemnified against all Expenses actually and reasonably incurred by the Indemnitee, or on the Indemnitee’s behalf, 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, if applicable law so provides, no indemnification against such Expenses shall be made in respect of any claim, issue or matter
in such Proceeding as to which Indemnitee shall have been adjudged to be liable to the Company unless and to the extent that an Oregon court shall determine that such indemnification may be made. 

(c) Indemnification for Expenses of a Party Who is Wholly or Partly Successful. Notwithstanding any other provision of this
Agreement, to the extent that Indemnitee is, by reason of his Corporate Status, a party to and is successful, on the merits or otherwise, in any Proceeding, he shall be indemnified to the maximum extent permitted by law, as such may be amended from
time to time, against all Expenses actually and reasonably incurred by him or on his behalf in connection therewith. If Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or more but less
than all claims, issues or matters in such Proceeding, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by him or on his behalf in connection with each successfully resolved claim, issue or matter. For
purposes of this Section and without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter. 

2. Additional Indemnity. In addition to, and without regard to any limitations on, the indemnification provided for in
Section 1 of this Agreement, the Company shall and hereby agrees to indemnify and hold harmless Indemnitee against all Expenses, judgments, penalties, fines and amounts paid in settlement actually and reasonably incurred by him or on his behalf
if, by reason of his Corporate Status, he is, or is threatened to be made, a party to or participant in any Proceeding (including a Proceeding by or in the right of the Company), including, without limitation, all liability arising out of the
negligence or active or passive wrongdoing of Indemnitee. The only limitation that shall exist upon the Company’s obligations pursuant to this Agreement shall be that the Company shall not be obligated to make any payment to Indemnitee that is
finally determined (under the procedures, and subject to the presumptions, set forth in Sections 6 and 7 hereof) to be unlawful. 
 3. Contribution. 
 (a) Whether or not the indemnification provided in
Sections 1 and 2 hereof is available, in respect of any threatened, pending or completed action, suit or proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), the Company
shall pay, in the first instance, the entire amount of any judgment or settlement of such action, suit or proceeding without requiring Indemnitee to contribute to such 

  
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AGREEMENT (Ryan W. Gray) 

 
payment and the Company hereby waives and relinquishes any right of contribution it may have against Indemnitee. The Company shall not enter into any settlement of any action, suit or proceeding
in which the Company is jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding) unless such settlement provides for a full and final release of all claims asserted against Indemnitee. 

(b) Without diminishing or impairing the obligations of the Company set forth in the preceding subparagraph, if, for any reason,
Indemnitee shall elect or be required to pay all or any portion of any judgment or settlement in any threatened, pending or completed action, suit or proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such
action, suit or proceeding), the Company shall contribute to the amount of expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably incurred and paid or payable by Indemnitee in proportion to
the relative benefits received by the Company and all officers, directors or employees of the Company, other than Indemnitee, who are jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), on the one hand, and
Indemnitee, on the other hand, from the transaction from which such action, suit or proceeding arose; provided, however, that the proportion determined on the basis of relative benefit may, to the extent necessary to conform to law, be further
adjusted by reference to the relative fault of the Company and all officers, directors or employees of the Company other than Indemnitee who are jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), on the one
hand, and Indemnitee, on the other hand, in connection with the events that resulted in such expenses, judgments, fines or settlement amounts, as well as any other equitable considerations which the Law may require to be considered. The relative
fault of the Company and all officers, directors or employees of the Company, other than Indemnitee, who are jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), on the one hand, and Indemnitee, on the other
hand, shall be determined by reference to, among other things, the degree to which their actions were motivated by intent to gain personal profit or advantage, the degree to which their liability is primary or secondary and the degree to which their
conduct is active or passive. 
 (c) The Company hereby agrees to fully indemnify and hold Indemnitee harmless from any claims
of contribution which may be brought by officers, directors or employees of the Company, other than Indemnitee, who may be jointly liable with Indemnitee. 
 (d) To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to Indemnitee for any reason whatsoever, the Company, in lieu of
indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses, in connection with any claim relating to an
indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances of such Proceeding in order to reflect (i) the relative benefits received by the Company and Indemnitee as a
result of the event(s) and/or transaction(s) giving cause to such Proceeding; and/or (ii) the relative fault of the Company (and its directors, officers, employees and agents) and Indemnitee in connection with such event(s) and/or
transaction(s). 
 4. Indemnification for Expenses of a Witness. Notwithstanding any other provision of this Agreement,
to the extent that Indemnitee is, by reason of his Corporate Status, a witness in any Proceeding to which Indemnitee is not a party, he shall be indemnified against all Expenses actually and reasonably incurred by him or on his behalf in connection
therewith. 

  
 Page 3 - INDEMNIFICATION
AGREEMENT (Ryan W. Gray) 

 5. Advancement of Expenses. Notwithstanding any other provision of this Agreement,
the Company shall advance all Expenses incurred by or on behalf of Indemnitee in connection with any Proceeding by reason of Indemnitee’s Corporate Status within thirty (30) days after the receipt by the Company of a statement or
statements from Indemnitee requesting such advance or advances from time to time, whether prior to or after final disposition of such Proceeding. Such statement or statements shall reasonably evidence the Expenses incurred by Indemnitee and shall
include or be preceded or accompanied by: (i) a written affirmation of Indemnitee as to Indemnitee’s good faith belief that he or she has met the standard of conduct described in the last sentence of Section 1(a) hereof; and
(ii) a written undertaking by or on behalf of Indemnitee to repay any Expenses advanced if it shall ultimately be determined that Indemnitee is not entitled to be indemnified against such Expenses. Any advances and undertakings to repay
pursuant to this Section 5 shall be unsecured and interest free. 
 6. Procedures and Presumptions for Determination of
Entitlement to Indemnification. It is the intent of this Agreement to secure for Indemnitee rights of indemnity that are as favorable as may be permitted under the OBCA and public policy of the State of Oregon. Accordingly, the parties agree
that the following procedures and presumptions shall apply in the event of any question as to whether Indemnitee is entitled to indemnification under this Agreement: 
 (a) To obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request, including therein or therewith such documentation and information as is reasonably available
to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification. The Secretary of the Company shall, promptly upon receipt of such a request for indemnification, advise the Board of
Directors in writing that Indemnitee has requested indemnification. 
 (b) Upon written request by Indemnitee for
indemnification pursuant to the first sentence of Section 6(a) hereof, a determination, if required by applicable law, with respect to Indemnitee’s entitlement thereto shall be made in the specific case by one of the following four
methods, which shall be at the election of the board: (1) by the Board of Directors by majority vote of a quorum consisting of Disinterested Directors; (2) if a quorum cannot be obtained under clause (1) above, by a majority vote of a
committee of Disinterested Directors duly designated by the Board of Directors consisting solely of two or more Disinterested Directors; (3) by independent legal counsel selected by the Board of Directors or its Committee in a manner prescribed
in clauses (1) or (2) above or, if a quorum of the Board of Directors cannot be obtained under clause (1) above, the independent legal counsel shall be selected by majority vote of the full Board of Directors, including directors who
are party to the proceeding; or (4) if so directed by the Board of Directors, by the shareholders of the Company. 
 (c) If
the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 6(b) hereof, the Independent Counsel shall be selected as provided in Section 6(b). Indemnitee may, within 10 days after written
notice of selection of Independent Counsel shall have been given, deliver to the Company, as the case may be, a 

  
 Page 4 - INDEMNIFICATION
AGREEMENT (Ryan W. Gray) 

 
written objection to such selection; provided, however, that such objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of
“Independent Counsel” as defined in Section 13 of this Agreement, and the objection shall set forth with particularity the factual basis of such assertion. Absent a proper and timely objection, the person so selected shall act
as Independent Counsel. If a written objection is made and substantiated, the Independent Counsel selected may not serve as Independent Counsel unless and until such objection is withdrawn or a court has determined that such objection is without
merit. If, within 20 days after submission by Indemnitee of a written request for indemnification pursuant to Section 6(a) hereof, no Independent Counsel shall have been selected and not objected to, either the Company or Indemnitee may
petition an Oregon court or other court of competent jurisdiction for resolution of any objection which shall have been made by the Indemnitee to the Company’s selection of Independent Counsel and/or for the appointment as Independent Counsel
of a person selected by the court or by such other person as the court shall designate, and the person with respect to whom all objections are so resolved or the person so appointed shall act as Independent Counsel under Section 6(b) hereof.
The Company shall pay any and all reasonable fees and expenses of Independent Counsel incurred by such Independent Counsel in connection with acting pursuant to Section 6(b) hereof, and the Company shall pay all reasonable fees and expenses
incident to the procedures of this Section 6(c), regardless of the manner in which such Independent Counsel was selected or appointed. 
 (d) In making a determination with respect to entitlement to indemnification hereunder, the person or persons or entity making such determination shall presume that Indemnitee is entitled to
indemnification under this Agreement. Anyone seeking to overcome this presumption shall have the burden of proof and the burden of persuasion by clear and convincing evidence. Neither the failure of the Company (including by its directors or
independent legal counsel) to have made a determination prior to the commencement of any action pursuant to this Agreement that indemnification is proper in the circumstances because Indemnitee has met the applicable standard of conduct, nor an
actual determination by the Company (including by its directors or independent legal counsel) that Indemnitee has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that Indemnitee has not met the
applicable standard of conduct. 
 (e) Indemnitee shall be deemed to have acted in good faith if Indemnitee’s action is
based on the records or books of account of the Enterprise (as hereinafter defined), including financial statements, or on information supplied to Indemnitee by the officers of the Enterprise in the course of their duties, or on the advice of legal
counsel for the Enterprise or on information or records given or reports made to the Enterprise by an independent certified public accountant or by an appraiser or other expert selected with reasonable care by the Enterprise. In addition, the
knowledge and/or actions, or failure to act, of any director, officer, agent or employee of the Enterprise shall not be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement. Whether or not the foregoing
provisions of this Section 6(e) are satisfied, it shall in any event be presumed that Indemnitee has at all times acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Company. Anyone
seeking to overcome this presumption shall have the burden of proof and the burden of persuasion by clear and convincing evidence. 

  
 Page 5 - INDEMNIFICATION
AGREEMENT (Ryan W. Gray) 

 (f) If the person, persons or entity empowered or selected under Section 6 to determine
whether Indemnitee is entitled to indemnification shall not have made a determination within sixty (60) days after receipt by the Company of the request therefor, the requisite determination of entitlement to indemnification shall be deemed to
have been made and Indemnitee shall be entitled to such indemnification absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in
connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law; provided, however, that such 60-day period may be extended for a reasonable time, not to exceed an additional thirty
(30) days, if the person, persons or entity making such determination with respect to entitlement to indemnification in good faith requires such additional time to obtain or evaluate documentation and/or information relating thereto; and
provided, further, that the foregoing provisions of this Section 6(f) shall not apply if the determination of entitlement to indemnification is to be made by the shareholders pursuant to Section 6(b) of this Agreement and if
(A) within fifteen (15) days after receipt by the Company of the request for such determination, the Board of Directors or the Disinterested Directors, if appropriate, resolve to submit such determination to the shareholders for their
consideration at an annual meeting thereof to be held within seventy-five (75) days after such receipt and such determination is made thereat, or (B) a special meeting of shareholders is called within fifteen (15) days after such
receipt for the purpose of making such determination, such meeting is held for such purpose within sixty (60) days after having been so called and such determination is made thereat. 

(g) Indemnitee shall cooperate with the person, persons or entity making such determination with respect to Indemnitee’s entitlement
to indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee
and reasonably necessary to such determination. Any Independent Counsel, member of the Board of Directors or shareholder of the Company shall act reasonably and in good faith in making a determination regarding the Indemnitee’s entitlement to
indemnification under this Agreement. Any costs or expenses (including attorneys’ fees and disbursements) incurred by Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne by the Company
(irrespective of the determination as to Indemnitee’s entitlement to indemnification) and the Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom. 
 (h) The Company acknowledges that a settlement or other disposition short of final judgment may be successful if it permits a party to avoid expense, delay, distraction, disruption and uncertainty. In the
event that any action, claim or proceeding to which Indemnitee is a party is resolved in any manner other than by adverse judgment against Indemnitee (including, without limitation, settlement of such action, claim or proceeding with or without
payment of money or other consideration) it shall be presumed that Indemnitee has been successful on the merits or otherwise in such action, suit or proceeding. Anyone seeking to overcome this presumption shall have the burden of proof and the
burden of persuasion by clear and convincing evidence. 

  
 Page 6 - INDEMNIFICATION
AGREEMENT (Ryan W. Gray) 

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

(a) In the event that (i) a determination is made pursuant to Section 6 of this Agreement that Indemnitee is not entitled to
indemnification under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 5 of this Agreement, (iii) no determination of entitlement to indemnification is made pursuant to Section 6(b) of this
Agreement within 90 days after receipt by the Company of the request for indemnification, (iv) payment of indemnification is not made pursuant to this Agreement within thirty (30) days after receipt by the Company of a written request
therefor or (v) payment of indemnification is not made within thirty (30) days after a determination has been made that Indemnitee is entitled to indemnification or such determination is deemed to have been made pursuant to Section 6
of this Agreement, Indemnitee shall be entitled to an adjudication in an appropriate court of the State of Oregon, or in any other court of competent jurisdiction, of Indemnitee’s entitlement to such indemnification. Indemnitee shall commence
such proceeding seeking an adjudication within 180 days following the date on which Indemnitee first has the right to commence such proceeding pursuant to this Section 7(a). The Company shall not oppose Indemnitee’s right to seek any such
adjudication. 
 (b) In the event that a determination shall have been made pursuant to Section 6(b) of this Agreement that
Indemnitee is not entitled to indemnification, any judicial proceeding commenced pursuant to this Section 7 shall be conducted in all respects as a de novo trial on the merits, and Indemnitee shall not be prejudiced by reason of the adverse
determination under Section 6(b). 
 (c) If a determination shall have been made pursuant to Section 6(b) of this
Agreement that Indemnitee is entitled to indemnification, the Company shall be bound by such determination in any judicial proceeding commenced pursuant to this Section 7, absent (i) a misstatement by Indemnitee of a material fact, or an
omission of a material fact necessary to make Indemnitee’s misstatement not materially misleading in connection with the application for indemnification, or (ii) a prohibition of such indemnification under applicable law. 

(d) In the event that Indemnitee, pursuant to this Section 7, seeks a judicial adjudication of his rights under, or to recover
damages for breach of, this Agreement, or to recover under any directors’ and officers’ liability insurance policies maintained by the Company, the Company shall pay on his behalf, in advance, any and all expenses (of the types described
in the definition of Expenses in Section 13 of this Agreement) actually and reasonably incurred by him in such judicial adjudication, regardless of whether Indemnitee ultimately is determined to be entitled to such indemnification, advancement
of expenses or insurance recovery. 

  
 Page 7 - INDEMNIFICATION
AGREEMENT (Ryan W. Gray) 

 (e) The Company shall be precluded from asserting in any judicial proceeding commenced
pursuant to this Section 7 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court that the Company is bound by all the provisions of this Agreement. The Company shall
indemnify Indemnitee against any and all Expenses and, if requested by Indemnitee, shall (within thirty (30) days after receipt by the Company of a written request therefore) advance, to the extent not prohibited by law, such expenses to
Indemnitee, which are incurred by Indemnitee in connection with any action brought by Indemnitee for indemnification or advance of Expenses from the Company under this Agreement or under any directors’ and officers’ liability insurance
policies maintained by the Company, regardless of whether Indemnitee ultimately is determined to be entitled to such indemnification, advancement of Expenses or insurance recovery, as the case may be. 

8. Non-Exclusivity; Survival of Rights; Insurance; Subrogation. 

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

(b) To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers,
employees, or agents or fiduciaries of the Company or of any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise that such person serves at the request of the Company, Indemnitee shall be covered by such
policy or policies in accordance with its or their terms to the maximum extent of the coverage available for any director, officer, employee, agent or fiduciary under such policy or policies. If, at the time of the receipt of a notice of a claim
pursuant to the terms hereof, the Company has director and officer liability insurance in effect, the Company shall give prompt notice of the commencement of such proceeding to the insurers in accordance with the procedures set forth in the
respective policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such proceeding in accordance with the terms of such policies.

 (c) In the event of any payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of
the rights of recovery of Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such rights.

  
 Page 8 - INDEMNIFICATION
AGREEMENT (Ryan W. Gray) 

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

(e) The Company’s obligation to indemnify or advance Expenses hereunder to Indemnitee who is or was serving at the request of the
Company as a director, officer, employee or agent of any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise shall be reduced by any amount Indemnitee has actually received as indemnification or
advancement of expenses from such other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise. 
 9. Exception to Right of Indemnification. Notwithstanding any provision in this Agreement, the Company shall not be obligated under this Agreement to make any indemnity in connection with any claim
made against Indemnitee: 
 (a) for which payment has actually been made to or on behalf of Indemnitee under any insurance
policy or other indemnity provision, except with respect to any excess beyond the amount paid under any insurance policy or other indemnity provision; or 
 (b) for an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company within the meaning of Section 16(b) of the Securities Exchange Act
of 1934, as amended, or similar provisions of state statutory law or common law; or 
 (c) in connection with any Proceeding (or
any part of any Proceeding) initiated by Indemnitee, including any Proceeding (or any part of any Proceeding) initiated by Indemnitee against the Company or its directors, officers, employees or other indemnitees, unless (i) the Board of
Directors of the Company authorized the Proceeding (or any part of any Proceeding) prior to its initiation or (ii) the Company provides the indemnification, in its sole discretion, pursuant to the powers vested in the Company under applicable
law. 
 10. Duration of Agreement. All agreements and obligations of the Company contained herein shall continue during
the period Indemnitee is an officer or director of the Company (or is or was serving at the request of the Company as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise) and shall
continue thereafter so long as Indemnitee shall be subject to any Proceeding (or any proceeding commenced under Section 7 hereof) by reason of his Corporate Status, whether or not he is acting or serving in any such capacity at the time any
liability or expense is incurred for which indemnification can be provided under this Agreement. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and their respective successors (including any
direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business or assets of the Company), assigns, spouses, heirs, executors and personal and legal representatives. 

  
 Page 9 - INDEMNIFICATION
AGREEMENT (Ryan W. Gray) 

 11. Security. To the extent requested by Indemnitee and approved by the Board of
Directors of the Company, the Company may at any time and from time to time provide security to Indemnitee for the Company’s obligations hereunder through an irrevocable bank line of credit, funded trust or other collateral. Any such security,
once provided to Indemnitee, may not be revoked or released without the prior written consent of the Indemnitee. 
 12.
Enforcement. 
 (a) The Company expressly confirms and agrees that it has entered into this Agreement and assumes the
obligations imposed on it hereby in order to induce Indemnitee to serve as an officer or director of the Company and the Company acknowledges that Indemnitee is relying upon this Agreement in serving as an officer or director of the Company.

 (b) This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and
supersedes all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof. 
 13. Definitions. For purposes of this Agreement: 
 (a) “Corporate
Status” describes the status of a person who is or was a director, officer, employee, agent or fiduciary of the Company or of any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise that such
person is or was serving at the express request of the Company. 
 (b) “Disinterested Director” means a
director of the Company who is not and was not a party to the Proceeding in respect of which indemnification is sought by Indemnitee. 
 (c) “Enterprise” shall mean the Company and any other corporation, partnership, joint venture, trust, employee benefit plan or other enterprise that Indemnitee is or was serving at the
express written request of the Company as a director, officer, employee, agent or fiduciary. 
 (d) “Expenses”
shall include all reasonable attorneys’ fees, retainers, court costs, transcript costs, fees of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees and all
other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating, participating, or being or preparing to be a witness in a Proceeding. Expenses also shall
include Expenses incurred in connection with any appeal resulting from any Proceeding, including without limitation the premium, security for, and other costs relating to any cost bond, supersede as bond, or other appeal bond or its equivalent.
Expenses, however, shall not include amounts paid in settlement by Indemnitee or the amount of judgments or fines against Indemnitee. 
 (e) “Independent Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither presently is, nor in the past five years has been,
retained to represent: (i) the Company or Indemnitee in any matter material to 

  
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AGREEMENT (Ryan W. Gray) 

 
either such party (other than with respect to matters concerning Indemnitee under this Agreement, or of other indemnitees under similar indemnification agreements), or (ii) any other party
to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing,
would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement. The Company agrees to pay the reasonable fees of the Independent Counsel referred to above
and to fully indemnify such counsel against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement or its engagement pursuant hereto. 

(f) “Proceeding” includes any threatened, pending or completed action, suit, arbitration, alternate dispute resolution
mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether brought by or in the right of the Company or otherwise and whether civil, criminal, administrative or investigative, in which
Indemnitee was, is or will be involved as a party or otherwise, by reason of the fact that Indemnitee is or was an officer or director of the Company, by reason of any action taken by him or of any inaction on his part while acting as an officer or
director of the Company, or by reason of the fact that he is or was serving at the request of the Company as a director, officer, employee, agent or fiduciary of another corporation, partnership, joint venture, trust or other Enterprise; in each
case whether or not he is acting or serving in any such capacity at the time any liability or expense is incurred for which indemnification can be provided under this Agreement; including one pending on or before the date of this Agreement, but
excluding one initiated by an Indemnitee pursuant to Section 7 of this Agreement to enforce his rights under this Agreement. 
 14. Severability. The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability of any other provision. Without limiting the generality of the
foregoing, this Agreement is intended to confer upon Indemnitee indemnification rights to the fullest extent permitted by applicable laws. In the event any provision hereof conflicts with any applicable law, such provision shall be deemed modified,
consistent with the aforementioned intent, to the extent necessary to resolve such conflict. 
 15. Modification and
Waiver. No supplement, modification, termination or amendment of this Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a
waiver of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver. 
 16.
Notice by Indemnitee. Indemnitee agrees promptly to notify the Company in writing upon being served with or otherwise receiving any summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding
or matter which may be subject to indemnification covered hereunder. The failure to so notify the Company shall not relieve the Company of any obligation which it may have to Indemnitee under this Agreement or otherwise unless and only to the extent
that such failure or delay materially prejudices the Company. 

  
 Page 11 - INDEMNIFICATION
AGREEMENT (Ryan W. Gray) 

 17. Notices. All notices and other communications given or made pursuant to this
Agreement shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient, and
if not so confirmed, then on the next business day, (c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) day after deposit with a nationally
recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent: 
 (a) To Indemnitee at the address set forth below Indemnitee’s signature hereto. 
 (b) To the Company at: 
 Planar Systems, Inc. 

1195 NW Compton Drive 
 Beaverton OR 97006-1992 
 Attention: General Counsel 

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

18. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all
of which together shall constitute one and the same Agreement. This Agreement may also be executed and delivered by facsimile signature and in two or more counterparts, each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument. 
 19. Headings. The headings of the paragraphs 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. 
 20.
Governing Law and Consent to Jurisdiction. This Agreement and the legal relations among the parties shall be governed by, and construed and enforced in accordance with, the laws of the State of Oregon, without regard to its conflict of laws
rules. The Company and Indemnitee hereby irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in connection with this Agreement shall be brought only in the state or federal courts located in Multnomah
County, Oregon (the “Oregon Court”), and not in any other state or federal court in the United States of America or any court in any other country, (ii) consent to submit to the exclusive jurisdiction of the Oregon Court for
purposes of any action or proceeding arising out of or in connection with this Agreement, (iii) waive any objection to the laying of venue of any such action or proceeding in the Oregon Court, and (iv) waive, and agree not to plead or to
make, any claim that any such action or proceeding brought in the Oregon Court has been brought in an improper or inconvenient forum. 
 SIGNATURE PAGE TO FOLLOW 

  
 Page 12 - INDEMNIFICATION
AGREEMENT (Ryan W. Gray) 

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

			
	COMPANY
	
	PLANAR SYSTEMS, INC.
		
	 By:
	 	 /S/ GERALD K. PERKEL

	 Name:
	 	Gerald K. Perkel
	 Title:
	 	President and Chief Executive Officer
	
	INDEMNITEE
		
		 	 /S/ RYAN W. GRAY

	 Name:
	 	Ryan W. Gray
		
	 Address:
	 	2413 Remington Drive
		 	West Linn, Oregon 97068

  

	 Signature Page - INDEMNIFICATION AGREEMENT 
	 359016/1/GES/054753-0000

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