Document:

EX-10.20

 Exhibit 10.20 
  

					
	 

	  	eASIC Corporation	 	
	  	2585 Augustine Drive, Suite 100	 	
	  	Santa Clara, CA 95054	 	
	  	Tel: (408) 855-9200	 	
	  	Fax: (408) 855-9201	 	
	  	www.easic.com	 	

  

			
	December 11, 2014	  	
		
	Matt Ng	  	
	  
	  	
	  
	  	

 Dear Matt, 
 eASIC Corporation
(“eASIC” or the “Company”) is pleased to formally offer you a full time position as VP, Legal, General Counsel and Corporate Secretary. You will be reporting to Richard Deranleau, CFO and SVP, Finance. You will be
responsible for duties commensurate with this position. Throughout the term of your employment, you will devote on a full time basis such business time and energies to the business and affairs of the Company as needed to carry out your duties and
responsibilities. As an exempt employee, you are required to exercise your specialized expertise, independent judgment and discretion to provide high-quality services. 

eASIC is offering you a semi-monthly salary of $10,000 (which is equivalent to $240,000 annually), less applicable withholding in accordance
with eASIC’s normal payroll procedures. Your anticipated started date is January 5, 2015, contingent upon the successful completion of background investigation and/or reference check. eASIC reserves the right to conduct background
investigations and /or reference checks on all of its potential employees. 
 You are eligible to participate in the Company bonus plan at a rate of 40% of
your annual salary paid annually, if you and eASIC meet the established annual performance objectives. Details of the incentive bonus will be provided separately. 

You will be eligible to participate in the Company’s health benefits, paid time off (PTO), holiday pay, and other employee benefits, in accordance with
the Company’s employee policies as developed, adopted and modified from time to time. The Company reserves the right to modify or cancel such benefits at any time. 

Your primary work location will be Santa Clara, California. However, the Company reserves the right in its discretion to assign you to perform duties
at any other location or that may differ in any manner whatsoever from any duties described in this agreement. 
 In connection with your employment with
the Company, the Company will recommend that the Board of Directors grant you an option to purchase seventy-five thousand (75,000 shares of the Company’s Common Stock (“Shares”)). The option shall have an exercise purchase
price equal to the fair market value on the date of the grant as determined by the Company’s Board of Directors. Twenty-five percent of the Shares shall vest upon your completion of one year of continuous service from your start date, and the
remaining shares shall vest each month of continuous service thereafter over the next three (3) years. The Shares will continue to vest only so long as you continue to be employed by the Company. The option will be an incentive stock option to
the maximum extent allowed by applicable law and will be subject to the terms of the Stock Option Agreement between you and the Company. 
 As an eASIC
employee, you will be expected to abide by Company rules and regulations and sign and comply with the Company’s standard agreement relating to proprietary rights (the “Inventions Agreement”). This letter, the “Inventions
Agreement”, the Company policy for all employees, and your Stock Option Agreement between you and eASIC, 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 Company and you. 

  
 Page 1 

 You should be aware that your employment with eASIC is for no specified period and constitutes “at
will” employment. As a result, you are free to resign at any time, for any reason or for no reason, simply by notifying the Company. Similarly, eASIC is free to conclude its employment relationship with you at any time for any reason, as long
as not otherwise prohibited by law. This at-will employment relationship cannot be changed except in a writing signed by a Company officer. 
 You and the
Company agree that any dispute between you (including any claims you may have against any officer, director, or employee of the Company or any subsidiary thereof), including without limitation any dispute arising directly or indirectly out of
termination of the employment relationship created hereunder, shall be resolved under the Company dispute Resolution Procedure where Arbitration shall be the exclusive final remedy for dispute between the parties. 

For purposes of federal immigration law (Immigration Reform and Control Act of 1986), you are required to provide documentary evidence of your eligibility for
employment in the United States. Please bring the appropriate documentation as listed on the enclosed I-9 form with you on your first day. 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. 
 The aforementioned are the terms and conditions of your employment and any other representation which
may have been made to you are superseded by this offer. If the above terms and conditions are in accordance with your understanding, please sign this letter where indicated below and return it to Halina Nabielec (Human Resources). This offer, if not
accepted, will expire on December 17, 2014. 
 eASIC intends to be the technology leader in the Structured ASIC, Configurable Logic, and FPGA
segments of the IC design implementation and manufacturing market and hopes that you will join us in this mission. Matt, all of us at eASIC look forward to having you join us. I am confident that your contribution will be an asset in our
success. If you have any questions about this letter or your offer, please do not hesitate to contact me. 
 Sincerely, 

 

			
	By:	 	 /s/ Ronnie Vasishta

		 	Ronnie Vasishta
		 	President & CEO

 This offer of employment is expressly conditioned upon, and shall not be effective in the absence of your agreement and
acceptance. 
 By signing below, I acknowledge and agree to and accept employment with eASIC Corporation on the terms set forth in this agreement. I
acknowledge and understand that my employment with eASIC is subject to a satisfactory background investigation and providing acceptable proof of my identity and of my current and unrestricted right to work in the United States within three
(3) business days of my date of hire. 
  

					
	 /s/ Matt Ng
	  	 12/17/14
	 	 1/12/15 or earlier

	Matt Ng	  	Date	 	Confirmed Start Date

 A representative from our Human Resources team will be in contact with you prior to your first day, to schedule an agreeable
time to conduct New Employee Orientation with you. 

  
 Page 2Exhibit 10.1

 

 

Voting Agreement

Each of the undersigned, being all of the directors of Peoples Bancorp (“Peoples”) and Peoples Federal Savings Bank of DeKalb County having, in the case of the Peoples directors, voted for the approval and adoption by Peoples of that certain Agreement and Plan of Merger (“Agreement and Plan of Merger”) among Peoples and Horizon Bancorp (“Horizon”), whereby Horizon will acquire all of the outstanding capital stock of Peoples in exchange for shares of Horizon common stock, no par value per share (the “Holding Company Merger”), in consideration of the benefits to be derived from the consummation of such merger and in consideration of the mutual agreements made in the Agreement and Plan of Merger and herein, and in order to induce Horizon to execute and deliver the Agreement and Plan of Merger to Peoples and to proceed with the consummation of the Holding Company Merger and to incur the expenses required in connection therewith, hereby irrevocably covenants and agrees with one another and with each of the parties to such Agreement and Plan of Merger that the undersigned:

(a) will support the consummation of the Holding Company Merger and any merger of any Peoples subsidiaries, including Peoples Federal Savings Bank of DeKalb County, and, subject to fiduciary duties and Section 5.06 of the Agreement and Plan of Merger, will recommend the Holding Company Merger for approval and adoption by the shareholders of Peoples;

(b) will vote all shares of common stock of Peoples (“Peoples Common Stock”) now or hereafter beneficially owned by him or her, in person or by proxy, at any meeting of the shareholders of Peoples or adjournments thereof, in favor of the approval and adoption of the Agreement and Plan of Merger and the Holding Company Merger; and

(c) until such time as the Holding Company Merger has been consummated or the Agreement and Plan of Merger has been duly terminated in accordance with the provisions thereof, will not transfer any shares of Peoples Common Stock, or any right or option with respect thereto or any interest therein, without first obtaining from the transferee thereof and furnishing to Horizon a written agreement of such transferee substantially to the effect of the agreements herein made and in form and substance acceptable to Horizon.

The undersigned represents and warrants that he or she (except to the extent indicated below) is the sole record and/or beneficial owner of (and has sole rights to vote and to dispose of) the number of shares of Peoples Common Stock indicated beside his or her signature below.

This Voting Agreement shall be effective from the date hereof and shall terminate and be of no further force and effect upon the earlier of (a) the consummation of the Holding Company Merger; (b) the termination of the Agreement and Plan of Merger in accordance with its terms; or (c) the taking of such action whereby a majority of Peoples’ Board of Directors, in accordance with the terms and conditions of Section 5.06 of the Agreement and Plan of Merger, withdraws its favorable recommendation of the Agreement and Plan of Merger to the shareholders of Peoples.

This Voting Agreement may be executed in one or more counterparts and delivered by facsimile, pdf or other means of electronic communication, each of which shall be deemed an original, but all of which together shall constitute one and the same agreement. This Voting Agreement shall be governed by and construed in accordance with the laws of the State of Indiana and applicable federal laws, without regard to principles of conflicts of law. The parties hereto hereby agree that all claims, actions, suits and proceedings between the parties hereto relating to this Voting Agreement shall be filed, tried and litigated only in the Circuit or Superior Courts of Marion County, Indiana or the United States District Court for the Southern District of Indiana. In connection with the foregoing, the parties hereto consent to the jurisdiction and venue of such courts and expressly waive any claims or defenses of lack of personal jurisdiction of or proper venue by such courts. The parties agree that irreparable damage would occur in the event that any of the provisions of this Voting Agreement was not performed in accordance with its specific terms on a timely basis or were otherwise breached. It is accordingly agreed that the parties shall be entitled to an injunction or other equitable relief to prevent breaches of this Voting Agreement and to enforce specifically the terms and provisions of this Voting Agreement in any court identified above, this being in addition to any other remedy to which they are entitled at law or in equity. WAIVER OF JURY TRIAL. EACH OF THE PARTIES HEREBY WAIVES TRIAL BY JURY IN ANY JUDICIAL PROCEEDING INVOLVING, DIRECTLY, IN ANY MATTERS (WHETHER SOUNDING IN TORT, CONTRACT OR OTHERWISE) IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH THIS VOTING AGREEMENT.

 

[Remainder of Page Intentionally Left Blank.]

 

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Executed and Delivered as of February 18, 2015.

	
/s/ G. Richard Gatton

	
   (27,137 shares)

	
G. Richard Gatton

	 
	 	 
	/s/ Bruce S. Holwerda	
   (5,964 shares)

	
Bruce S. Holwerda

	 
	 	 
	/s/ Douglas D. Marsh	
   (12,500 shares)

	
Douglas D. Marsh

	 
	 	 
	/s/ Stephen R. Olson	
   (12,751 shares)

	
Stephen R. Olson

	 
	 	 
	/s/ Maurice F. Winkler, III	
   (26,174 shares)

	
Maurice F. Winkler, III

	 
	 	 

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