Document:

Executive Severance Agreement by and between Energy, Inc. and Raghuveer R. Belur

 Exhibit 10.27 
 ENPHASE ENERGY, INC. 
 EXECUTIVE SEVERANCE AGREEMENT 

This Executive Severance Agreement (the “Agreement”) is dated as of June 14, 2011, by and between Raghuveer
R. Belur (“Executive”) and Enphase Energy, Inc., a Delaware corporation (the “Company”). This Agreement is intended to provide Executive with certain benefits described herein upon the occurrence of
specific events. 
 RECITALS 
 A. The Company’s Board of Directors (the “Board”) believes it is in the best interests of the Company and its stockholders to retain Executive and provide incentives to
Executive to continue in the service of the Company. 
 B. The Board further believes that it is imperative to provide Executive
with certain benefits upon termination of Executive’s employment, which benefits are intended to provide Executive with financial security and provide sufficient income and encouragement to Executive to remain with the Company. 

C. To accomplish the foregoing objectives, the Board has directed the Company, upon execution of this Agreement by Executive, to agree to
the terms provided in this Agreement. 
 Now therefore, in consideration of the mutual promises, covenants and agreements
contained herein, and in consideration of the continuing employment of Executive by the Company, the parties hereto agree as follows: 
 1. At-Will Employment. Executive’s employment is at-will, which means that the Company may terminate Executive’s employment at any time, with or without advance notice, and with or
without Cause. Similarly, Executive may resign Executive’s employment at any time, with or without advance notice or Good Reason. Executive shall not receive any compensation of any kind, including, without limitation, equity award vesting
acceleration and severance benefits, following Executive’s last day of employment with the Company, except as expressly provided herein. Executive shall devote all reasonable efforts to the performance of Executive’s duties, and shall
perform such duties in good faith. 
 2. Benefits Upon Termination of Employment. If Executive’s employment is
terminated without Cause (and other than as a result of Executive’s death or disability) or Executive resigns for Good Reason, and provided such termination constitutes a “separation from service” (within the meaning of Treasury
Regulation Section 1.409A-1(h), a “Separation from Service”), and provided Executive signs and allows to become effective a release substantially in the form attached hereto as EXHIBIT A or
EXHIBIT B, as applicable (the “Release”) within the time period provided therein, then the Company shall provide Executive with the following severance benefits (the “Separation
Benefits”): 

  
 1. 

 (a) The Company shall pay Executive an amount equal to six
(6) months of Executive’s then current base salary and annual cash bonus (if any), ignoring any decrease in base salary that forms the basis for Good Reason, less all applicable withholdings and deductions, paid over such 6-month period
(the “Salary Continuation”). The Salary Continuation will be paid in equal installments on the Company’s regular payroll schedule and will be subject to applicable tax withholdings over the period outlined above
following the date of Executive’s Separation from Service as set forth in Section 3 below. 
 (b)
Should Executive elect to continue his health insurance benefits pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) and any analogous provisions of applicable state law, the Company shall pay
Executive’s COBRA group health insurance premiums for Executive and his eligible dependents for a period of six (6) months following the effective date of such termination of employment described in Section 2(a) (the “COBRA
Payment Period”). References to COBRA premiums shall not include any amounts payable by Executive under an Internal Revenue Code Section 125 health care reimbursement plan. Notwithstanding the foregoing, if the Company determines,
in its sole discretion, that the Company cannot provide the COBRA premium benefits without potentially incurring financial costs or penalties under applicable law (including, without limitation, Section 2716 of the Public Health Service Act),
the Company shall in lieu thereof pay Executive a taxable cash amount, which payment shall be made regardless of whether Executive or Executive’s eligible family members elect health care continuation coverage (the “Health Care
Benefit Payment”). The Health Care Benefit Payment shall be paid in monthly installments on the same schedule that the COBRA Premiums would otherwise have been paid to the insurer. The Health Care Benefit Payment shall be equal to the
amount that the Company would have otherwise paid for COBRA insurance premiums (which amount shall be calculated based on the premium for the first month of coverage), and shall be paid until the expiration of the COBRA Payment Period. 

(c) The vesting and/or exercisability of any outstanding equity awards held by Executive at the time of
Executive’s Separation from Service shall be accelerated as to 100% of the then unvested portions of such outstanding equity awards as of the date of Executive’s Separation from Service. 

3. Limitations And Conditions On Separation Benefits 

(a) Release Prior to Payment of Benefits. Prior to the payment of any of the Separation Benefits, Executive shall
execute, and allow to become effective, the Release within the time frame set forth therein, but not later than sixty (60) days following Executive’s Separation from Service (the “Release Effective Date”). Such
Release shall specifically relate to all of Executive’s rights and claims in existence at the time of such execution and shall confirm Executive’s continuing obligations to the Company (including but not limited to obligations under any
confidentiality and/or non-solicitation agreement with the Company). No Separation Benefits will be paid prior to the Release Effective Date. Within five (5) days following the Release Effective Date, the Company will pay Executive the
Separation Benefits Executive would otherwise have received on or prior to such date but for the delay in payment related to the effectiveness of the Release, with the balance of the benefits being paid as originally scheduled. Unless a Separation
from Service has occurred, the Board, in its sole discretion, may modify the form of the required Release to comply with applicable law and shall determine the form of the 

  
 2. 

 
required Release, which may be incorporated into a termination agreement or other agreement with Executive. Notwithstanding the foregoing, if the Company (or, if applicable, the successor entity
thereto) determines that any of the Separation Benefits constitute “deferred compensation” under Section 409A (defined below), then, solely to the extent necessary to avoid the incurrence of the adverse personal tax consequences under
Section 409A, no Separation Benefits will be paid prior to the sixtieth (60th) day following Executive’s Separation from Service. On the sixtieth (60th) day following the date of Separation from Service, the Company will pay to
Executive in a lump sum the applicable Separation Benefits that Employee would otherwise have received on or prior to such date, with the balance of the Separation Benefits being paid as originally scheduled. 

(b) Income and Employment Taxes. Executives agrees that Executive shall be responsible for any applicable taxes of
any nature (including any penalties or interest that may apply to such taxes) that the Company reasonably determines apply to any payment made hereunder, that Executive’s receipt of any benefit hereunder is conditioned on Executive’s
satisfaction of any applicable withholding or similar obligations that apply to such benefit, and that any cash payment owed hereunder will be reduced to satisfy any such withholding or similar obligations that may apply. 

(c) Compliance with Section 409A. It is intended that each installment of the payments and benefits provided
for in this Agreement is a separate “payment” for purposes of Treasury Regulation Section 1.409A-2(b)(2)(i). For the avoidance of doubt, it is intended that payments of the amounts set forth in this Agreement satisfy, to the greatest
extent possible, the exemptions from the application of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) (Section 409A of the Code, together, with any state law of similar effect,
“Section 409A”) provided under Treasury Regulations 1.409A-1(b)(4), 1.409A-1(b)(5) and 1.409A-1(b)(9). However, if the Company (or, if applicable, the successor entity thereto) determines that the severance payments and
benefits provided under this Agreement (the “Agreement Payments”) constitute “deferred compensation” under Section 409A and Executive is, on the date of his Separation from Service, a “specified
Executive” of the Company or any successor entity thereto, as such term is defined in Section 409A(a)(2)(B)(i) of the Code (a “Specified Executive”), then, solely to the extent necessary to avoid the incurrence of
the adverse personal tax consequences under Section 409A, the timing of the Separation Benefit described in Section 2(a) shall be delayed as follows: on the earlier to occur of (i) the date that is six months and one day after
Executive’s Separation from Service or (ii) the date of Executive’s death (such earlier date, the “Delayed Initial Payment Date”), the Company (or the successor entity thereto, as applicable) shall pay to
Executive a lump sum amount equal to the applicable benefit that Executive would otherwise have received through the Delayed Initial Payment Date if the commencement of the payment of the benefit had not been so delayed pursuant to this
Section 3(c). 
 (d) Conflicts. Executive represents that his performance of all the terms of this
Agreement will not breach any other agreement to which Executive is a party. Executive has not, and will not during the term of this Agreement, enter into any oral or written agreement in conflict with any of the provisions of this Agreement.
Executive further represents that Executive is entering into or has entered into an employment relationship with the Company of 

  
 3. 

 
his own free will and that Executive has not been solicited as an employee in any way by the Company. 
 (e) Successors. Any successor to the Company (whether direct or indirect and whether by purchase, lease, merger, consolidation, liquidation or otherwise) to all or substantially all of the
Company’s business and/or assets shall assume the obligations under this Agreement and agree expressly to perform the obligations under this Agreement in the same manner and to the same extent as the Company would be required to perform such
obligations in the absence of a succession. The terms of this Agreement and all of Executive’s rights hereunder and thereunder shall inure to the benefit of, and be enforceable by, Executive’s personal or legal representatives, executors,
administrators, successors, heirs, distributees, devisees and legatees. 
 (f) Notice. Notices and all
other communications contemplated by this Agreement shall be in writing and shall be deemed to have been duly given when personally delivered or when mailed by U.S. registered or certified mail, return receipt requested and postage prepaid. Mailed
notices to Executive shall be addressed to Executive at the home address which Executive most recently communicated to the Company in writing. In the case of the Company, mailed notices shall be addressed to its corporate headquarters, and all
notices shall be directed to the attention of its Chief Financial Officer. 
 4. Definitions. 

(a) Cause. For purposes of this Agreement, “Cause”, as determined by the Board acting in good faith and
based on information then known to it, means: (A) gross negligence or willful misconduct in the performance of duties to the Company where such gross negligence or willful misconduct has resulted or is likely to result in substantial and
material damage to the Company or its subsidiaries; (B) a material failure to comply with the Company’s written policies after having received from the Company notice of, and a reasonable time to cure, such failure; (C) repeated
unexplained or unjustified absence from the Company; (D) conviction of a felony or a crime involving moral turpitude causing material harm to the standing and reputation of the Company; or (E) unauthorized use or disclosure of any
proprietary information or trade secrets of the Company or any other party to whom Executive owes an obligation of non-disclosure as a result of Executive’s relationship with the Company, which use or disclosure causes or is likely to cause
material harm to the Company. 
 (b) Good Reason. For purposes of this Agreement, “Good
Reason” for Executive’s resignation of his employment will exist following the occurrence of any of the following without Executive’s written consent: (A) a material reduction or change in job duties, responsibilities or
authority inconsistent with Executive’s position with the Company and Executive’s prior duties, responsibilities or authority, provided, however, that any change in Executive’s position after a Change in Control shall not constitute
grounds for a termination for Good Reason so long as Executive remains a member of the Company’s senior management (or becomes a member of the senior management of the surviving or acquiring entity) at the same or higher base salary as
immediately prior to the Change in Control with equivalent authority and responsibility; (B) a material reduction of Executive’s then current base salary, representing a reduction of more than 10 percent (10%), provided that an
across-the-board reduction in the salary level of other executives of the Company by the same percentage amount as part of a 

  
 4. 

 
general salary level reduction shall not constitute such a material salary reduction; (C) a relocation of the principal place for performance of Executive’s duties to the Company to a
location more than forty (40) miles from the Company’s then current location; or (D) any material breach by the Company of this Agreement or Executive’s Employment Agreement (as defined below); provided that Executive gives
written notice to the Company of the event forming the basis of the Good Reason resignation within sixty (60) days of the date the Company gives written notice to Executive of its affirmative decision to take an action set forth in (A), (B),
(C) or (D) above, the Company fails to cure such basis for the Good Reason resignation within thirty (30) days after receipt of Executive’s written notice and Executive terminates his employment within thirty (30) days
following the expiration of the cure period. 
 (c) Change in Control. For purposes of this Agreement,
“Change in Control” means the occurrence of any of the following events: (i) any sale or exchange of the capital stock by the shareholders of the Company in one transaction or series of related transactions where more
than 50% of the outstanding voting power of the Company is acquired by a person or entity or group of related persons or entities; or (ii) any reorganization, consolidation or merger of the Company where the outstanding voting securities of the
Company immediately before the transaction represent or are converted into less than fifty percent 50% of the outstanding voting power of the surviving entity (or its parent corporation) immediately after the transaction; or (iii) the
consummation of any transaction or series of related transactions that results in the sale of all or substantially all of the assets of the Company; or (iv) any “person” or “group” (as defined in the Securities Exchange Act
of 1934, as amended (the “Exchange Act”)) becoming the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act) directly or indirectly of securities representing more than fifty percent (50%) of the voting
power of the Company then outstanding. 
 5. Parachute Payments. 

(a) If any payment or benefit (including payments and benefits pursuant to this Agreement) that Executive would
receive in connection with a Change in Control from the Company or otherwise (“Transaction Payment”) would (i) constitute a “parachute payment” within the meaning of Section 280G of the Code, and
(ii) but for this sentence, be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then the Company shall cause to be determined, before any amounts of the Transaction Payment are paid
to Executive, which of the following two alternative forms of payment would result in Executive’s receipt, on an after-tax basis, of the greater amount of the Transaction Payment notwithstanding that all or some portion of the Transaction
Payment may be subject to the Excise Tax: (1) payment in full of the entire amount of the Transaction Payment (a “Full Payment”), or (2) payment of only a part of the Transaction Payment so that Executive receives
the largest payment possible without the imposition of the Excise Tax (a “Reduced Payment”) . For purposes of determining whether to make a Full Payment or a Reduced Payment, the Company shall cause to be taken into account
all applicable federal, state and local income and employment taxes and the Excise Tax (all computed at the highest applicable marginal rate, net of the maximum reduction in federal income taxes which could be obtained from a deduction of such state
and local taxes). If a Reduced Payment is made, (x) Executive shall have no rights to any additional payments and/or benefits constituting the Transaction Payment, and (y) reduction in payments and/or benefits shall occur in the manner
that results in the greatest economic benefit to Executive as determined 

  
 5. 

 
in this paragraph. If more than one method of reduction will result in the same economic benefit, the portions of the Transaction Payment shall be reduced pro rata. 

(b) The professional firm engaged by the Company for general tax purposes as of the day prior to the effective date
of the Change in Control shall make all determinations required to be made under this Section 5. If the professional firm so engaged by the Company is serving as accountant or auditor for the individual, entity or group effecting the Change in
Control, the Company shall appoint a nationally recognized independent registered public accounting firm to make the determinations required hereunder. The Company shall bear all expenses with respect to the determinations by such professional firm
required to be made hereunder. 
 (c) The professional firm engaged to make the determinations hereunder
shall provide its calculations, together with detailed supporting documentation, to the Company and Executive within fifteen (15) calendar days after the date on which Executive’s right to a Transaction Payment is triggered or such other
time as reasonably requested by the Company or Executive. If the professional firm determines that no Excise Tax is payable with respect to the Transaction Payment, either before or after the application of the Reduced Amount, it shall furnish the
Company and Executive with detailed supporting calculations of its determinations that no Excise Tax will be imposed with respect to such Transaction Payment. Any good faith determinations of the professional firm made hereunder shall be final,
binding and conclusive upon the Company and Executive. 
 6. Other Employment Terms and Conditions. The employment
relationship between the parties shall be governed by the general employment policies and procedures of the Company, including those relating to the protection of confidential information and assignment of inventions; provided, however, that when
the terms of this Agreement differ from or are in conflict with the Company’s general employment policies or procedures, this Agreement shall control. 
 7. Miscellaneous Provisions. 
 (a) No Duty to
Mitigate. Executive shall not be required to mitigate the amount of any payment contemplated by this Agreement (whether by seeking new employment or in any other manner), nor shall any such payment be reduced by any earnings that Executive may
receive from any other source. 
 (b) Waiver. No provision of this Agreement shall be modified, waived or
discharged unless the modification, waiver or discharge is agreed to in writing and signed by Executive and by an authorized officer of the Company (other than Executive). No waiver by either party of any breach of, or of compliance with, any
condition or provision of this Agreement by the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time. 

(c) Whole Agreement. No agreements, representations or understandings (whether oral or written and whether express
or implied) which are not expressly set forth in this Agreement have been made or entered into by either party with respect to the subject matter 

  
 6. 

 
hereof. This Agreement supersedes any agreement (or portion thereof) concerning similar subject matter dated prior to the date of this Agreement, including but not limited to Executive’s
Employment Agreement with the Company dated as of March 1, 2006, as amended (the “Employment Agreement”), and by execution of this Agreement both parties agree that any such predecessor agreement (or portion thereof)
shall be deemed null and void. For the avoidance of doubt, the parties agree that this Agreement does not supersede the provisions of the Employment Agreement other than the sections related to “Constructive Termination” and
“Termination without Cause” (as such terms are defined in the Employment Agreement), the provisions of any equity plan of the Company that provides for vesting acceleration benefits on the event of a Change in Control in which the
successor corporation does not assume or substitute for outstanding equity awards or Executive’s Employee Invention Assignment and Confidentiality Agreement with the Company. 

(d) Choice of Law. The validity, interpretation, construction and performance of this Agreement shall be governed
by the laws of the State of California without reference to conflict of laws provisions. 
 (e)
Severability. If any term or provision of this Agreement or the application thereof to any circumstance shall, in any jurisdiction and to any extent, be invalid or unenforceable, such term or provision shall be ineffective as to such
jurisdiction to the extent of such invalidity or unenforceability without invalidating or rendering unenforceable the remaining terms and provisions of this Agreement or the application of such terms and provisions to circumstances other than those
as to which it is held invalid or unenforceable, and a suitable and equitable term or provision shall be substituted therefor to carry out, insofar as may be valid and enforceable, the intent and purpose of the invalid or unenforceable term or
provision. 
 (f) Arbitration. Executive and the Company agree to attempt to settle any disputes arising
in connection with this Agreement through good faith consultation. In the event that Executive and the Company are not able to resolve any such disputes within fifteen (15) days after notification in writing to the other, Executive and the
Company agree that any dispute or claim arising out of or in connection with this Agreement will be finally settled by binding arbitration in Sonoma County, California in accordance with the rules of the American Arbitration Association by one
arbitrator mutually agreed upon by the parties. The arbitrator will apply California law, without reference to rules of conflicts of law or rules of statutory arbitration, to the resolution of any dispute. Except as set forth in Subparagraph
(e) above, the arbitrator shall not have authority to modify the terms of this Agreement. The Company shall pay the costs of the arbitration proceeding. Each party shall, unless otherwise determined by the arbitrator, bear its or his own
attorneys’ fees and expenses, provided however that if Executive prevails in an arbitration proceeding, the Company shall reimburse Executive for his reasonable attorneys’ fees and costs. Judgment on the award rendered by the arbitrator
may be entered in any court having jurisdiction thereof. Notwithstanding the foregoing, the Company and Executive may apply to any court of competent jurisdiction for preliminary or interim equitable relief, or to compel arbitration in accordance
with this paragraph, without breach of this arbitration provision. 
 (g) Legal Fees and Expenses. The
parties shall each bear their own expenses, legal fees and other fees incurred in connection with the execution of this Agreement. 

  
 7. 

 (h) No Assignment of Benefits. The rights of any person to payments
or benefits under this Agreement shall not be made subject to option or assignment, either by voluntary or involuntary assignment or by operation of law, including (without limitation) bankruptcy, garnishment, attachment or other creditor’s
process, and any action in violation of this Section 7(h) shall be void. 
 (i) Assignment by
Company. The Company may assign its rights under this Agreement to an affiliate, and an affiliate may assign its rights under this Agreement to another affiliate of the Company or to the Company. In the case of any such assignment, the term
“Company” when used in a section of this Agreement shall mean the corporation that actually employs the Executive. 
 (j) Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together will constitute one and the same instrument. 

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date written below.

  

	
	/s/ Raghuveer R. Belur
	
	RAGHUVEER R. BELUR
	
	Address: _____________________________________
	
	____________________________________________
	
	____________________________________________
	
	Date:    6/14/11                       
                                         

	
	ENPHASE ENERGY, INC.
	
	/s/ Paul B. Nahi
	Name:  Paul Nahi
	Title:  Chief Executive Officer
	
	Date:    6/14/11                       
                                         

  
 8.Change of Control Agreement by and between IDT, Inc. and Ted Tewksbury

 Exhibit 10.1 
 CHANGE OF CONTROL AGREEMENT 
  

 
 This Change of Control Agreement
(the “Agreement”) is made and entered into effective as of June 9, 2011, by and between Theodore L. Tewksbury III (“Employee”) and Integrated Device Technology, Inc., a Delaware corporation (the “Company”). 

RECITALS 
 The
parties hereto understand from time to time it is possible that another entity may consider acquiring the Company or a change in control may otherwise occur, with or without the approval of the Company’s Board of Directors (the
“Board”); and 
 The Board recognizes that such considerations can be a distraction to Employee and can cause Employee
to consider alternative employment opportunities; and 
 The Board has determined that it is in the best interests of the
Company and its shareholders to assure that the Company will have the continued dedication and objectivity of Employee, notwithstanding the possibility, threat or occurrence of a Change of Control (as defined below) of the Company; and 

The Board believes that it is in the best interests of the Company and its shareholders to provide Employee with an incentive to continue
his or her employment with the Company; and 
 The Board believes that it is imperative to provide Employee with certain
benefits upon termination of Employee’s employment in connection with a Change of Control, which benefits are intended to provide Employee with financial security and provide sufficient income and encouragement to Employee to remain with the
Company notwithstanding the possibility of a Change of Control. 
 To accomplish the foregoing objectives, the Board of
Directors has directed the Company, upon execution of this Agreement by Employee, to agree to the terms provided in this Agreement. 
 In consideration of the mutual covenants herein contained, and in consideration of the continuing employment of Employee by the Company, the parties agree as follows: 

 

	1.	 At-Will Employment. The Company and Employee acknowledge that, the Employee’s employment is and shall continue to be at-will, as defined
under applicable law. If Employee’s employment terminates for any reason, including (without limitation) any termination prior to a Change of Control, the Employee shall not be entitled to any payments, benefits, damages, awards or compensation
other than as provided by this Agreement, the terms of certain Board resolutions and agreements issued to Employee with respect to the grant of stock options and restricted stock units with respect to the Company’s securities (as described
below) and the Company’s established employee plans and written policies at the time of termination. The terms of this Agreement shall terminate upon the date that all 

	 	 
obligations of the parties hereunder have been satisfied. A termination of the terms of this Agreement pursuant to the preceding sentence shall be effective for all purposes, except that such
termination shall not affect the payment or provision of compensation or benefits on account of a termination of employment occurring prior to the termination of the terms of this Agreement. 

 

	2.	Change of Control. 

  

	 	2.1.	Termination Following a Change of Control. If Employee’s employment with the Company is terminated at any time within two (2) years after a Change of
Control, then Employee shall be entitled to receive severance benefits as follows: 

  

	 	2.1.1.	Voluntary Resignation. If Employee voluntarily resigns from the Company (other than as an Involuntary Termination (as defined below)), then Employee shall not be
entitled to receive severance benefits under this Agreement. Employee’s benefits will be terminated and/or paid out under the Company’s then existing benefit plans and policies in accordance with such plans and policies in effect on the
date of termination. 

  

	 	2.1.2.	Involuntary Termination. If Employee’s employment is terminated as a result of an Involuntary Termination other than for Cause, then, subject to Employee
signing on or before the 21st day following Employee’s termination of employment, and not revoking, a release of claims in the form attached as Exhibit A to this Agreement (the “Release”), Employee shall be entitled to the
following severance benefits: 

  

	 	i	 A lump sum severance payment consisting of (a) twenty-four (24) months of the monthly salary which Employee was receiving immediately prior
to the Change of Control, plus (b) two (2) times Employee’s “target bonus,” payable on the thirtieth (30th) day following Employee’s termination of employment. For this purpose, “target bonus” shall mean
that percentage of Employee’s base salary that is prescribed by the Company under its Annual Incentive Plan (or successor plan) as the percentage of such base salary payable to Employee as a bonus if the Company pays bonuses at one-hundred
percent (100%) of its Annual Incentive Plan (or successor plan) target, but in no event shall “target bonus” be less than the target bonus in effect for the Employee in the fiscal year in which the Change of Control occurs;

  

	 	ii	 A pro rata bonus (calculated based on the number of months during such fiscal year in which Employee was employed by the Company (or a successor
corporation)) for the fiscal year in which the Employee’s termination occurs based on the terms of the Company’s Annual Incentive Plan (or successor plan) for such fiscal year and less any portion of such bonus that has been previously
paid to Employee (the “Pro-rata Bonus”). The Pro-rata Bonus shall be paid to Employee when it would otherwise have been paid if the Employee continued to be employed by the Company (or a

  
 2 

	 	 
successor corporation), but in no event shall it be paid after the later of (A) the 15th day of the third month following the end of the Company’s fiscal year in which the
Employee’s date of termination occurs, and (B) March 15th of the calendar year in which the Employee’s date of termination occurs; 

  

	 	iii	For a period of eighteen (18) months following the date of the Employee’s termination of employment, the Company shall pay, or reimburse Employee for, a
portion of the COBRA premiums for Employee and any dependents covered under the Company’s group insurance plans immediately prior to the date of the Employee’s termination of employment (based on the cost-sharing levels in effect for
active participants in such plans as of the date of such termination of employment), provided that (A) the Employee makes a timely election for COBRA continuation coverage and (B) with regard to such COBRA continuation coverage, the
Company may cease making such payments or reimbursements when Employee becomes eligible to participate in a comparable insurance plan of another employer. Notwithstanding the previous sentence, with regard to such COBRA continuation coverage,
if the Company determines in its sole discretion that it cannot provide the foregoing benefit without potentially violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company shall in lieu
thereof provide to Employee a taxable monthly payment in an amount equal to the monthly COBRA premium that Employee would be required to pay to continue his and his covered dependents’ group insurance coverages in effect on the date of the
Employee’s termination of employment (which amount shall be based on the premiums for the first month of COBRA coverage), less the amount the Employee would have had to pay to continue such coverage for himself and his covered dependents based
on the cost sharing levels in effect on the date of the Employee’s termination of employment; 

  

	 	iv	Continuation of Employee’s life insurance benefits with the Company for twenty-four (24) months following the date of the Employee’s termination of
employment, which benefits shall be substantially similar to those to which Employee was entitled immediately prior to the Change of Control; 

  

	 	v	Outplacement services actually incurred by Employee within twelve (12) months following the date of termination and payable to a third party service provider with
a total value not to exceed $15,000; and 

  

	 	vi	 Effective on the date the Release is no longer revocable, the vesting of each unvested share of Common Stock, restricted stock unit or option to
purchase Common Stock held by such Employee shall be fully accelerated. Thereafter, each stock option shall be exercisable in accordance with the provisions of the option agreement and the Company’s Equity Plan pursuant to which such option was
granted and each share of restricted stock or share 

  
 3 

	 	 
of common stock (including a share of common stock issued upon vesting of restricted stock units) shall be freely transferable in accordance with the provisions of the agreement pursuant to which
such stock was purchased by Employee. 

  

	 	2.1.3.	Involuntary Termination for Cause. If Employee’s employment is terminated for Cause (as defined below), then Employee shall not be entitled to receive
severance benefits under this Agreement. Employee’s benefits will be terminated and/or paid out under the Company’s then existing benefit plans and policies in accordance with such plans and policies in effect on the date of termination.

  

	 	2.2.	Termination Apart from Change of Control. In the event Employee’s employment terminates for any reason, either prior to the occurrence of a Change of
Control or after the two year period following the effective date of a Change of Control, then Employee shall not be entitled to receive severance benefits under this Agreement. Employee’s benefits will be terminated in accordance with such
plans and policies in effect on the date of termination. 

  

	 	2.3.	Payment Delay. Notwithstanding any provision to the contrary in this Agreement: (i) no amount shall be payable pursuant to Section 3.1 unless the
Employee’s termination of employment constitutes a “separation from service” within the meaning of Section 1.409A-1(h) of the Department of Treasury Regulations and (ii) if the Employee is deemed at the time of his
separation from service to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code, to the extent delayed commencement of any portion of the termination benefits to which Employee is entitled under this
Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code, such portion of Employee’s termination benefits shall not be provided to Employee prior to the earlier of (A) the expiration
of the six-month period measured from the date of the Employee’s “separation from service” with the Company (as such term is defined in the Treasury Regulations issued under Section 409A of the Code) or (B) the date of
Employee’s death. Upon the earlier of such dates, all payments deferred pursuant to this Section 2.3 shall be paid in a lump sum to the Employee, and any remaining payments due under the Agreement shall be paid as otherwise provided
herein; and (iii) the reimbursement of any expense under Sections 2.1.2 shall be made no later than December 31 of the year following the year in which the expense was incurred. Except for outplacement expense reimbursements, the amount of
expenses reimbursed in one year shall not affect the amount eligible for reimbursement in any subsequent year. The determination of whether the Employee is a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code as
of the time of his separation from service shall made by the Company in accordance with the terms of Section 409A of the Code and applicable guidance thereunder (including without limitation Treasury Regulation Section 1.409A-1(i) and any
successor provision thereto). Each payment under this Agreement shall be considered a separate and distinct payment under Section 409A of the Code. 

  
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	3.	Definition of Terms. The following terms referred to in this Agreement shall have the following meanings: 

 

	 	3.1.	Change of Control. “Change of Control” shall mean the occurrence of any of the following events: 

 

	 	3.1.1.	Ownership. Any “Person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended) is or becomes the
“Beneficial Owner” (as defined in Rule 13d-3 under said Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the total voting power represented by the Company’s then outstanding
voting securities (or convertible under any circumstances into such securities); 

  

	 	3.1.2.	Merger/Consolidation. A merger or consolidation of the Company whether or not approved by the Board of Directors of the Company, other than a merger or
consolidation in which the voting securities of the Company outstanding immediately prior to the transaction continue to represent at least fifty percent (50%) of the total voting power of the Company or such surviving entity immediately after
such merger or consolidation; 

  

	 	3.1.3.	Sale of Assets, Liquidation. Entering into an agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets
(other than a transaction covered by Section 3.1.2) or the shareholders of the Company approve a plan of complete liquidation of the Company in connection with an agreement for the sale or disposition by the Company of all or substantially all
of the Company’s assets; or 

  

	 	3.1.4.	Change in Board Composition. A change in the composition of the Board of Directors of the Company, as a result of which fewer than a majority of the directors
are Incumbent Directors. “Incumbent Directors” shall mean directors who either (A) are directors of the Company as of the date of this Agreement or (B) are elected, or nominated for election, to the Board of Directors of the
Company with the affirmative votes of at least a majority of the Incumbent Directors at the time of such election or nomination (but shall not include an individual whose election or nomination is in connection with an actual or threatened proxy
contest relating to the election of directors to the Company). 

  

	 	3.1.5.	In no event shall a spin-off of less than substantially all of the assets of the Company constitute a Change of Control for purposes of this Agreement.

  

	 	3.2.	Cause. “Cause” shall mean (i) gross negligence or willful misconduct in the performance of an Employee’s duties to the Company where such
gross negligence or willful misconduct has resulted or is likely to result in substantial and material damage to the Company or its subsidiaries, (ii) repeated unexplained or unjustified absence from the Company, (iii) a material and
willful violation of any federal or state law; (iv) commission of any act of fraud with respect to the Company; or (v) conviction of a felony or a crime involving moral turpitude causing material harm to the standing and reputation of the
Company, in each case as determined in good faith by the Board of Directors of the Company. 

  
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	 	3.3.	Equity Plan. “Equity Plan” shall mean the Company’s 2004 Equity Plan, as amended, or other plan, under which the relevant stock options,
restricted stock units, or share of common stock have been issued to Employee 

  

	 	3.4.	Good Reason. “Good Reason” shall mean any of the following events which occurs on or after the date of the Change of Control without Employee’s
consent (i) a material reduction or change in job duties, responsibilities and requirements inconsistent with Employee’s position with the Company and Employee’s duties, responsibilities and requirements as in effect immediately prior
to the Change of Control; (ii) any reduction of Employee’s base compensation or target bonus; or (iii) the Company requiring Executive to relocate to a facility or location more than 50 miles from the Company’s current location.

  

	 	3.5.	Involuntary Termination. “Involuntary Termination” shall mean (a) any termination of Employee by the Company following a Change of Control other
than for Cause, or (b) Employee’s resignation for Good Reason following a Change of Control. 

  

	4.	Tax Liability on Payments. Notwithstanding anything contained in this Agreement to the contrary, in the event that the vesting of the options, restricted stock
units and/or restricted stock upon a Change of Control together with all other payments and the value of any benefit received or to be received by Employee would result in all or a portion of such payment to be subject to excise tax under
Section 4999 of the Internal Revenue Code, then Employee’s payment shall be either (A) the full payment or (B) such lesser amount which would result in no portion of the payment being subject to excise tax under Section 4999
of the Internal Revenue Code, whichever of the foregoing amounts, taking into account the applicable Federal, state, and local employment taxes, income taxes, and the excise tax imposed by Section 4999 of the Internal Revenue Code, results in
the receipt by the Employee, on an after-tax basis, of the greatest amount of the payment notwithstanding that all or some portion of the payment may be taxable under Section 4999 of the Internal Revenue Code; provided, however, that Employee
will be entitled to receive the full payment only if the excess of (C) the “parachute payments” as defined in Section 280G(b)(2) of the Code, over (D) 2.99 times Employee’s “base amount” as defined in
Section 280G(b)(3) of the Code exceeds the sum of (X) the greater of (i) $100,000 or (ii) ten (10) percent of the payments under this agreement plus (Y) the excise tax imposed under Section 4999 of the Code, plus
(Z) the applicable Federal, state, and local employment taxes and income taxes imposed on the excess of (i) the “parachute payments” as defined in Section 280G(b)(2) of the Code, over (ii) 2.99 times Employee’s
“base amount” as defined in Section 280G(b)(3) of the Code. All determinations required to be made under this Paragraph 5 shall be made by Company’s independent certified public accountants serving immediately prior to the Change
of Control (the “Accounting Firm”). Company shall cause the Accounting Firm to provide detailed supporting calculations of its determinations to Company and Employee. Notice must be given to the Accounting Firm within fifteen
(15) business days after an event entitling Employee to a payment under this Agreement. All fees and expenses of the Accounting Firm shall be borne solely by Company. 

  
 6 

	5.	Confidentiality. Employee agrees that Employee will not, without compulsion of legal process, reveal directly or indirectly any of the terms of this Agreement to
any person or entity except in confidence to those individuals or entities to whom the disclosure is necessary to effect the purposes of this Agreement. 

  

	6.	Successors. Any successor to the Company (whether direct or indirect and whether by purchase, lease, merger, consolidation, liquidation or otherwise) to all or
substantially all of the Company’s business and/or assets shall assume the obligations under this Agreement and agree expressly to perform the obligations under this Agreement in the same manner and to the same extent as the Company would be
required to perform such obligations in the absence of a succession. The terms of this Agreement and all of Employee’s rights hereunder shall inure to the benefit of, and be enforceable by, each Employee’s personal or legal
representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. 

  

	7.	Notice. Notices and all other communications contemplated by this Agreement shall be in writing and shall be deemed to have been duly given when personally
delivered or when mailed by U.S. certified mail, return receipt requested and postage prepaid. Mailed notices to Employee shall be addressed to Employee at the home address Employee most recently communicated to the Company in writing. In the case
of the Company, mailed notices shall be addressed to its corporate headquarters, and all notices shall be directed to the attention of its General Counsel. 

 

	8.	Miscellaneous Provisions. 

  

	 	8.1.	No Duty to Mitigate. Employee shall not be required to mitigate the amount of any payment contemplated by this Agreement (whether by seeking new employment or in
any other manner), nor, except as otherwise provided in this Agreement, shall any such payment be reduced by any earnings that Employee may receive from any other source. 

 

	 	8.2.	Waiver. No provision of this Agreement shall be modified, waived or discharged as to Employee unless the modification, waiver or discharge is agreed to in
writing and signed by Employee and by an authorized officer of the Company (other than Employee). No waiver by either party of any breach of, or of compliance with, any condition or provision of this Agreement by the other party shall be considered
a waiver of any other condition or provision or of the same condition or provision at another time. 

  

	 	8.3.	Whole Agreement. No agreements, representations or understandings which are not expressly set forth in this Agreement have been made or entered into by either
party with respect to the subject matter hereof. This Agreement supersedes any agreement of the same title and concerning similar subject matter dated prior to the date of this Agreement, including without limitation any prior Change of Control
Agreement between Employee and the Company, and by execution of this Agreement both parties agree that any such predecessor agreement shall be deemed null and void. 

  
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	 	8.4.	Choice of Law. The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of California, excluding
conflict-of-law principles that would cause the application of the laws of any other jurisdiction. 

  

	 	8.5.	Severability. If any term or provision of this Agreement be invalid or unenforceable, such term or provision shall be ineffective to the extent of such
invalidity or unenforceability without invalidating or rendering unenforceable the remaining terms and provisions of this Agreement, and a suitable and equitable term or provision shall be substituted therefor to carry out, insofar as may be valid
and enforceable, the intent and purpose of the invalid or unenforceable term or provision. 

  

	 	8.6.	Arbitration. Any dispute or controversy arising under or in connection with this Agreement shall be settled exclusively by binding arbitration before a single
arbitrator in the County of Santa Clara, California, in accordance with the rules of the American Arbitration Association then in effect. Judgment may be entered on the arbitrator’s award in any court having jurisdiction. In no event shall
incidental, consequential or punitive damages be awarded to either party. 

  

	 	8.7.	Legal Fees and Expenses. The parties shall each bear their own expenses, legal fees and other fees incurred in connection with this Agreement.

  

	 	8.8.	No Assignment of Benefits. The rights of any person to payments or benefits under this Agreement shall not be made subject to option or assignment, either by
voluntary or involuntary assignment or by operation of law, including (without limitation) bankruptcy, garnishment, attachment or other creditor’s process, and any action in violation of this subsection shall be void. 

 

	 	8.9.	Employment Taxes. All payments made pursuant to this Agreement will be subject to withholding of applicable income and employment taxes.

  

	 	8.10.	Assignment by Company. The Company may assign its rights under this Agreement to an affiliate, and an affiliate may assign its rights under this Agreement to
another affiliate of the Company or to the Company; provided, however, that no assignment shall be made if the tangible assets of the assignee are less than $100 million at the time of assignment. In the case of any such assignment, the term
“Company” when used in a section of this Agreement shall mean the corporation that actually employs Employee. 

  

	 	8.11.	Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together will constitute one and the
same instrument. 

  
 8 

	 	8.12.	Section 409A. The parties acknowledge and agree that, to the extent applicable, this Agreement shall be interpreted in accordance with, and the parties
agree to use their best efforts to achieve timely compliance with, Section 409A of the Internal Revenue Code of 1986, as amended, and the Department of Treasury Regulations and other interpretive guidance issued thereunder (“Section
409A”), including without limitation any such regulations or other guidance that may be issued after the date of this Agreement. Notwithstanding any provision of this Agreement to the contrary, in the event that the Company determines that any
compensation or benefits payable or provided under this Agreement may be subject to Section 409A, the Company may adopt such limited amendments to this Agreement and appropriate policies and procedures, including amendments and policies with
retroactive effect, that the Company reasonably determines are necessary or appropriate to (a) exempt the compensation and benefits payable under this Agreement from Section 409A and/or preserve the intended tax treatment of the
compensation and benefits provided with respect to this Agreement or (b) comply with the requirements of Section 409A. 

IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company by its duly authorized officer, as of the day and year
first above written. 
  

					
	Integrated Device Technology, Inc.	 		  	Employee
			
	 /s/ Ronald J. Smith, Ph.D. 
	 		  	 /s/ Theodore L. Tewksbury III

	 Ronald J. Smith, Ph.D.

Chairman, Compensation Committee
	 		  	 Theodore L. Tewksbury III

  
 9

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