Document:

Letter Agreement

 Exhibit 10.1 
 May 1, 2007 
 Michael A. Ricci 
 47669 Fremont
Blvd. 
 Fremont, CA 94538 
 Dear Mike, 
 I am very pleased to offer you a position with Ikanos Communications, Inc (the “Company”) as President and Chief Executive Officer, reporting to the
Board of Directors of the Company (the “Board”). You will have responsibility for the management and direction of the Company. In addition, you will be appointed to the Company’s Board of Directors. We would like your start
date to be as soon as reasonable, but no later than June 4, 2007. 
 We are pleased to offer you an annual base salary of $375,000, which will be paid
in accordance with the Company’s normal payroll procedures. In addition, you will also receive a one-time cash payment of $50,000 (less applicable tax withholdings) as a sign on bonus upon your joining Ikanos Communications. This amount will be
paid within 30 days of your date of hire. We are also pleased to offer you a comprehensive package of employee benefits generally offered to employees and executives including health benefits. You will be eligible to accrue fifteen days of paid
time-off (PTO) per calendar year. This time may be used for vacation, personal time off or sick time in accordance with the Company’s PTO policy. In addition, the Company observes eight scheduled holidays and two floating holidays per
year. You should note that the Company may modify salaries and benefits from time to time, as it deems necessary. 
 Assuming you are employed at the Company through January 1, 2008, you will be eligible for an annual bonus, currently set in the amount of 86.7% of your base salary for fiscal 2007. Because you will not have been
with the Company for all of fiscal year 2007, you will be eligible to receive a pro-rated portion of the total annual bonus amount based on the number of months you are with the Company for fiscal year 2007. By way of example, assuming your date of
hire is June 1, 2007, you will have earned and be eligible to receive 7/12th of the total annual bonus amount
at the end of fiscal year 2007, which amount would equal $189,656.25 (7/12th of 86.7% x $375,000 (base salary)).
Such pro-rated bonus amount will be paid within 30 days of the end of fiscal year 2007. For fiscal years thereafter, the annual target bonus amounts shall determined by the Compensation Committee and payment of such bonus shall be based on both the
Company’s achievement of specified financial targets for such fiscal year established by the Compensation Committee and your achievement of specific objectives and milestones for such fiscal year mutually agreed upon and set by you and the
Company. 
 An important component of our compensation package includes the opportunity for ownership
in our Company. After you commence employment and upon approval by the Compensation Committee, the Company will grant you an option to purchase 300,000 shares of the Company’s common stock. The price of the shares will be determined by the
closing market price of the Company common stock on the day the option is granted. The option will commence vesting on your date of hire and will vest over four (4) years with 25% of the shares subject to such option vesting one (1) year
after your date of hire and 1/48th of the shares subject to such option vesting monthly thereafter, subject to your
continued service with the Company through each such date. The options may be granted from one of the Company’s stock option plans (the “Stock Option Plans”) or pursuant to a stand-alone stock option agreement, or a combination
of both, as determined by the Compensation Committee. As a result, the options will be subject to the terms, definitions and provisions of the Stock Option Plan under which it is granted, if any, and the stock option agreement by and between the
Company and you (the “Option Agreement”), both of which documents are incorporated herein by reference; provided, however, that the terms and provisions of the Option Agreement shall be substantially the same as if the portion of
the options represented by such Option Agreement had been granted under the Stock Option Plan. 
 After you commence employment, you will also receive an award of 75,000 Restricted Stock Units (“RSUs”) upon approval by the Compensation Committee. Vesting will commence on your date of hire and such RSUs will vest over
two (2) years with 50% of the RSUs vesting one (1) year after your date of hire and 1/8th of the RSUs
vesting 

 
quarterly thereafter, subject to your continued service with the Company through each such date. The RSUs may be granted from one of the Stock Option Plans
or pursuant to a stand-alone RSU agreement, or a combination of both, as determined by the Compensation Committee. As a result, the RSUs will be subject to the terms, definitions and provisions of the Stock Option Plan under which it is granted, if
any, and the RSU agreement by and between the Company and you (the “RSU Agreement”), both of which documents are incorporated herein by reference; provided, however, that the terms and provisions of the RSU Agreement shall be
substantially the same as if the portion of the RSUs represented by such RSU Agreement had been granted under the Stock Option Plan. 
 Starting in fiscal
year 2008, you will also be eligible to participate in the Ikanos Employee Equity Program whereby employees are eligible for additional Company equity, as determined by the Compensation Committee. 
 In the event the Company terminates your employment with the Company without Cause, you will be entitled to receive (i) continuing payments of severance pay equal
to twelve (12) months of your then current base salary on the date of termination, payable in accordance with the Company’s normal payroll procedures and subject to the usual, required withholding; (ii) accelerated vesting of all
outstanding and unvested equity awards (including, without limitation, options and RSUs) with respect to that portion of the award that would have vested during the one (1)-year period following your date of termination if you had remained employed
with the Company through such period; and (iii) the same level of health (i.e., medical, vision and dental) coverage and benefits as in effect for you, and, if applicable, your covered dependents, on the day immediately preceding the
termination date; provided, however, that (x) you constitute a qualified beneficiary, as defined in Section 4980B(g)(1) of the Internal Revenue Code of 1986, as amended (the “Code”); and (y) you elect
continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), within the time period prescribed pursuant to COBRA. The Company shall reimburse your COBRA premiums until the
earlier of (A) twelve (12) months after your date of termination, or (B) until you obtain substantially similar coverage under another employer’s group insurance plan. 
 If within twelve (12) months following a Change of Control; (A) you resign from your employment with the Company for Good Reason or (B) the Company
terminates your employment without Cause, then you will be entitled to receive (i) continuing payments of severance pay equal to twelve (12) months of your then current base salary on the date of termination, payable in accordance with the
Company’s normal payroll procedures and subject to the usual, required withholding; (ii) accelerated vesting of all outstanding and unvested equity awards as to 50% of the then unvested portion of any such award; and (iii) the same
level of health (i.e., medical, vision and dental) coverage and benefits as in effect for you, and, if applicable, your covered dependents, on the day immediately preceding the termination date; provided, however, that (x) you constitute
a qualified beneficiary, as defined in Section 4980B(g)(1) of the Code; and (y) you elect continuation coverage pursuant to COBRA, within the time period prescribed pursuant to COBRA. The Company shall reimburse your COBRA premiums until
the earlier of (A) twelve (12) months after your date of termination, or (B) until you obtain substantially similar coverage under another employer’s group insurance plan. 
 Notwithstanding the foregoing, you will only be entitled to the severance payments and benefits set forth above if you enter into (and do not revoke) a release of any
and all claims against the Company, in a form reasonably acceptable to the Company. 
 If you are a “specified employee” within the meaning of
Section 409A of the Code and the final regulations and any other guidance promulgated thereunder (“Section 409A”) at the time of your termination, and the severance payable to you, if any, pursuant to this offer letter, when
considered together with any other severance payments or separation benefits which may be considered deferred compensation under Section 409A (together, the “deferred compensation separation benefits”) will not and could under
no circumstances, regardless of when such termination occurs, be paid in full by March 15 of the year following your termination, then only that portion of the severance payments (and any other deferred compensation separation benefits) which
does not exceed the Section 409A Limit (as defined below) may be made within the first six (6) months following your termination of employment in accordance with the payment schedule set forth above (or, with respect to other deferred
compensation separation benefits, the payment schedule applicable to each such payment or benefit). For these purposes, each severance payment is hereby designated as a separate payment and will not collectively be treated as a single payment. Any
portion of the severance payments or other deferred compensation separation benefits in excess of the Section 409A Limit shall accrue and, to the extent such portion of the severance payments or other 

 
deferred compensation separation benefits would otherwise have been payable within the first six (6) months following your termination of employment,
they will become payable on the date that is six (6) months and one (1) day following the date of your termination of employment. All subsequent severance payments or other deferred compensation separation benefits, if any, will be payable
in accordance with the payment schedule applicable to each payment or benefit. This provision is intended to comply with the requirements of Section 409A so that none of the severance payments and benefits to be provided hereunder will be
subject to the additional tax imposed under Section 409A, and any ambiguities herein will be interpreted to so comply. 
 The Company and you agree to
work together in good faith to consider amendments to this offer letter and take such reasonable actions which are necessary, appropriate or desirable to avoid imposition of any additional tax or income recognition prior to actual payment to you
under Section 409A. 
 Definition of Terms: 
 “Cause” means: (i) your failure to perform your assigned duties or responsibilities after notice thereof from the Company describing your failure to perform such duties or responsibilities; (ii) your engaging in
any act of dishonesty, fraud or misrepresentation; (iii) your violation of any federal or state law or regulation applicable to the Company’s business; (iv) your breach of any confidentiality agreement or invention assignment
agreement between you and the Company; or (v) your being convicted of, or entering a plea of nolo contendere to, any crime or committing any act of moral turpitude. 
 “Change of Control” means either: (i) the acquisition of the Company by another entity by means of any transaction or series of related transactions (including, without limitation, any
reorganization, merger or consolidation or stock transfer, but excluding any such transaction effected primarily for the purpose of changing the domicile of the Company), unless the Company’s stockholders of record immediately prior to such
transaction or series of related transactions hold, immediately after such transaction or series of related transactions, at least 50% of the voting power of the surviving or acquiring entity (provided that the sale by the Company of its securities
for the purposes of raising additional funds will not constitute a Change of Control hereunder); or (ii) a sale of all or substantially all of the assets of the Company. 
 “Good Reason” means any of the following that occurs on or following a Change of Control and without your express written consent: (i) a material reduction of your duties, position or
responsibilities; (ii) a material reduction by the Company in your base salary as in effect immediately prior to such reduction; (iii) a material reduction by the Company in the kind or level of employee benefits to which you are entitled
immediately prior to such reduction with the result that your overall benefits package is significantly reduced; or (iv) a material change in the geographic location at which you must perform services (in other words, your relocation to a
facility or a location more than fifty (50) miles from your then present location). Provided, however, that before you may terminate your employment for Good Reason, (A) you must provide written notice to the Company, within ninety
(90) days of the initial existence of the Good Reason condition, setting forth the reasons for your intention to terminate your employment for Good Reason and (B) the Company must have an opportunity within thirty (30) days following
delivery of such notice to cure the Good Reason condition. 
 “Section 409A Limit” means the lesser of two (2) times: (i) your
annualized compensation based upon your annual rate of pay (unless otherwise defined by applicable guidance issued by the Internal Revenue Service after the date of this letter, “annual rate of pay” shall include base salary and bonus
compensation) paid to you during the Company’s taxable year preceding the Company’s taxable year of your termination of employment; or (ii) the maximum amount that may be taken into account under a qualified plan pursuant to
Section 401(a)(17) of the Code for the year in which your employment is terminated. 
 You should be aware, and acknowledge and agree, that your
employment with the Company is for no specified period of time and constitutes at will employment. As a result, you are free to resign at any time, for any reason, or for no reason. Similarly, the Company is free to conclude its employment
relationship with you at any time, with or without cause, and with or without notice. Your continued employment with the Company is contingent upon the successful completion of a background check. Upon completion of this, Human Resources will
confirm your employment status with the Company. 

 You will be eligible for a performance and salary review in accordance to the Company’s policy on performance
management and compensation planning. 
 For purposes of federal immigration law, you will be required to provide to the Company documentary evidence of your
identity and eligibility for employment in the United States. Such documentation must be provided to us within three (3) business days of your date of hire, or our employment relationship with you may be terminated. 
 As a Company employee, you will be expected to comply with and be bound by the operating policies, procedures, practices and rules and regulations of the Company. You
will be expected to sign and comply with an Employment, Confidential Information, Invention Assignment and Arbitration Agreement which requires, among other provisions, the assignment of patent rights to any invention made during your employment at
the Company and non-disclosure of proprietary information. You will also be expected to sign and comply with our Company Code of Ethics and our Insider Trading Policy. 
 You agree that, during the term of your employment with the Company, you will not engage in any other employment, occupation, consulting or other business activity directly related to the business in which the Company
is now involved or becomes involved during the term of your employment, nor will you engage in any other activities that conflict with your obligations to the Company. 
 To indicate your acceptance of the Company’s offer, please sign and date this letter in the space provided below and return it to me. A duplicate original is enclosed for your records. This letter, along with the
agreement relating to the proprietary rights between you and the Company, set forth the terms of your employment with the Company and supersede any prior representations or agreements, whether written or oral. This letter may not be modified or
amended except by a written agreement, signed by the Executive Chairman of the Board and by you. 
 Mike, Ikanos Communications is an exciting endeavor. We
are delivering on a strategy in the market that will cement our competitive position; and you, and your contributions will be an important component of our success. We look forward to working with you at Ikanos Communications. 
 Please call me with any questions that you may have about this offer. 
 On
Behalf of the Board of Directors, 
 Sincerely, 
  

	
	 /s/ G. Venkatesh

	G. Venkatesh

 Executive Chairman of the Board of Directors 
 Accepted and agreed to: 
 Date: 05/01/07 
  

	
	
	 /s/ Mike Ricci

	Employee Signature

 Enclosures: 
 Employment, Confidential Information, Invention Assignment and Arbitration Agreement 
 Company Code of Ethics 
 Insider Trading Policy 
 Duplicate Original Offer LetterAmendment No. 4 to the Credit Agreement

 Exhibit 4.4(d) 
 AMENDMENT NO. 4 TO CREDIT AGREEMENT 
 AMENDMENT dated as of February 28, 2007 to the Credit
Agreement dated as of December 17, 2003 (as heretofore amended, the “Credit Agreement”) among EQUISTAR CHEMICALS, LP, a Delaware limited partnership (the “Borrower”); its SUBSIDIARIES from time to time party
thereto; the LENDERS from time to time party thereto; CITICORP USA, INC., as Administrative Agent (in such capacity, the “Administrative Agent”) and the other AGENTS party thereto. 
 The parties hereto agree as follows: 
 SECTION 1. Defined Terms; References. Unless otherwise specifically defined herein, each term used herein which is defined in the Credit Agreement has the meaning assigned to such term in the Credit Agreement.
Each reference to “hereof”, “hereunder”, “herein” and “hereby” and each other similar reference and each reference to “this Agreement” and each other similar reference contained in the Credit
Agreement shall, after this Amendment becomes effective, refer to the Credit Agreement as amended hereby. 
 SECTION 2.
Amendment to Credit Agreement. Section 6.03(d) of the Credit Agreement is hereby amended to read as follows: 
 (d) Enter into a Securitization Transaction other than the Securitization Facility; provided that Equistar and its Subsidiaries may sell to (i) a Subsidiary which is a special purpose entity formed solely to facilitate a sale to
a third party or (ii) any other Person which is not Equistar or a Subsidiary of Equistar accounts receivables which are elected to be excluded from the Securitization Facility as contemplated by the RSA Agreement, as amended, and subject to the
limitations imposed thereby (“Excluded Receivables”), whether or not such sales constitute a Securitization Transaction (“Excluded Obligor Sales”); provided further that each Excluded Obligor Sale shall be
made without recourse except to the extent that Equistar or its Subsidiaries are liable for the representations, warranties and covenants made in connection with such Excluded Obligor Sale. 
 SECTION 3. Consent to Amendment of Security Agreement. The Lenders hereby consent to an amendment to the Security Agreement
whereby: 
 (a) The definition of “Transferred Receivables” in Section 1(c) of the Security Agreement is
amended to read as follows: 
 “Transferred Receivables” means (i) any Receivables that have been sold,
contributed or otherwise transferred to Equistar Receivables in connection with the Securitization Facility and (ii) any Excluded Receivables. 
  

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 SECTION 4. Representations of Borrower. The Borrower represents and warrants
that (i) the representations and warranties of the Borrower set forth in Article 3 of the Credit Agreement will be true in all material respects on and as of the Amendment Effective Date with the same effect as though made on and as of such
date, except to the extent such representations and warranties expressly relate to an earlier date and (ii) no Default will have occurred and be continuing on such date. 
 SECTION 5. Governing Law. This Amendment shall be governed by and construed in accordance with the laws of the State of New
York. 
 SECTION 6. Counterparts. This Amendment may be signed in any number of counterparts, each of which shall
be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 
 SECTION 7.
Effectiveness. This Amendment shall become effective on the date (the “Amendment Effective Date”) when the Administrative Agent shall have received counterparts hereof signed by Lenders comprising the Required Lenders and the
Borrowers’ Agent (or, in the case of any party as to which an executed counterpart shall not have been received, the Administrative Agent shall have received in form satisfactory to it facsimile or other written confirmation from such party of
execution of a counterpart hereof by such party). 
  

 2 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the date
first above written. 
  

					
	EQUISTAR CHEMICALS, LP
		
	By:	 	/s/ Karen A. Twitchell
		 	Name:	 	Karen A. Twitchell
		 	Title:	 	Vice President and Treasurer
	
	CITICORP USA, INC., as Administrative Agent
		
	By:	 	/s/ David Jaffe
		 	Name:	 	David Jaffe
		 	Title:	 	Director/Vice President
	
	Allied Irish Banks, p.l.c.
		
	By:	 	/s/ Martin Chin
		 	Name:	 	Martin Chin
		 	Title:	 	Senior Vice President
		
	By:	 	/s/ Eanna P. Mulkere
		 	Name:	 	Eanna P. Mulkere
		 	Title:	 	Assistant Vice President
	
	Bank of America, N.A.
		
	By:	 	/s/ Stephen King
		 	Name:	 	Stephen King
		 	Title:	 	Vice President

  

 3 

					
	The Bank of New York
		
	By:	 	/s/ Raymond J. Palmer
		 	Name:	 	Raymond J. Palmer
		 	Title:	 	Vice President
	
	Calyon New York Branch
		
	By:	 	/s/ Darrell Stanley
		 	Name:	 	Darrell Stanley
		 	Title:	 	Managing Director
		
	By:	 	/s/ Michael Willis
		 	Name:	 	Michael Willis
		 	Title:	 	Director
	
	Commerzbank AG, New York and Grand Cayman Branches
		
	By:	 	/s/ Andrew Kjoller
		 	Name:	 	Andrew Kjoller
		 	Title:	 	Vice President
		
	By:	 	/s/ Janet Lee
		 	Name:	 	Janet Lee
		 	Title:	 	Assistant Treasurer
	
	The Bank of New York
		
	By:	 	/s/ Raymond J. Palmer
		 	Name:	 	Raymond J. Palmer
		 	Title:	 	Vice President

  

 4 

					
	Wachovia National Bank
		
	By:	 	/s/ M. Galovic, Jr.
		 	Name:	 	M. Galovic, Jr.
		 	Title:	 	Director
	
	CREDIT SUISSE, Cayman Islands Branch
		
	By:	 	/s/ Thomas Cantello
		 	Name:	 	Thomas Cantello
		 	Title:	 	Director
		
	By:	 	/s/ Shaheen Malik
		 	Name:	 	Shaheen Malik
		 	Title:	 	Associate
	
	General Electric Capital Corporation
		
	By:	 	/s/ Alison P. Trapp
		 	Name:	 	Alison P. Trapp
		 	Title:	 	Duly Authorized Signatory
	
	GMAC COMMERCIAL FINANCE LLC
		
	By:	 	/s/ Robert F. McIntyre
		 	Name:	 	Robert F. McIntyre
		 	Title:	 	Director
	
	JPMORGAN CHASE BANK, N.A.
		
	By:	 	/s/ Stacey Haimes
		 	Name:	 	Stacey Haimes
		 	Title:	 	Executive Director

  

 5 

					
	LASALLE BUSINESS CREDIT, LLC
		
	By:	 	/s/ Mitchell J. Tarvid
		 	Name:	 	Mitchell J. Tarvid
		 	Title:	 	First Vice President
	
	 MERRILL LYNCH CAPITAL, A Division of Merrill Lynch Business Financial Services Inc.

		
	By:	 	/s/ James Betz
		 	Name:	 	James Betz
		 	Title:	 	VP
	
	 NATIONAL CITY BUSINESS CREDIT, INC. (f.k.a. National City Commercial Finance, Inc.)

		
	By:	 	/s/ Jeffrey W. Swartz
		 	Name:	 	Jeffrey W. Swartz
		 	Title:	 	Vice President
	
	Regions Bank
		
	By:	 	/s/ Bruce Kasper
		 	Name:	 	Bruce Kasper
		 	Title:	 	Attorney in Fact
	
	RZB Finance LLC
		
	By:	 	/s/ John A. Valiska
		 	Name:	 	John A. Valiska
		 	Title:	 	First Vice President

  

 6 

					
	RZB Finance LLC
		
	By:	 	/s/ Dan Dobrjanskyj
		 	Name:	 	Dan Dobrjanskyj
		 	Title:	 	Vice President
	
	SIEMENS FINANCIAL SERVICES INC.
		
	By:	 	/s/ Mark Picillo
		 	Name:	 	Mark Picillo
		 	Title:	 	Vice President
	
	UBS AG, STAMFORD BRANCH
		
	By:	 	/s/ Richard L. Tavrow
		 	Name:	 	Richard L. Tavrow
		 	Title:	 	Director
		
	By:	 	/s/ David B. Julie
		 	Name:	 	David B. Julie
		 	Title:	 	Associate Director
	
	UPS CAPITAL CORPORATION
		
	By:	 	/s/ Frank LaMonaca
		 	Name:	 	Frank LaMonaca
		 	Title:	 	Credit Chief Officer
	
	Webster Business Credit Corp
		
	By:	 	/s/ Gordon Massave
		 	Name:	 	Gordon Massave
		 	Title:	 	AVP

  

 7 

					
	WELLS FARGO FOOTHILL, LLC
		
	By:	 	/s/ Patrick McCormack
		 	Name:	 	Patrick McCormack
		 	Title:	 	Vice President

  

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