Document:

New Employee Inducement Award Restricted Share Units

 Exhibit 10.37 
 CLEAN DIESEL TECHNOLOGIES, INC. 
 NEW EMPLOYEE INDUCEMENT AWARD

 RESTRICTED SHARE UNITS 
 The purpose of this New Employee Inducement Award (the “Award”) granted by Clean Diesel Technologies, Inc., a Delaware corporation (the “Corporation”), is to further the interests of
the Corporation and its shareholders by providing incentives in the form of stock awards to persons not previously Employees of the Corporation, or following a bona fide period of non-employment, as an inducement material to the person’s
entering into employment with the Corporation within the meaning of Rule 5635(c)(4) of the NASDAQ Listing Rules. 
  

	I.	NOTICE OF GRANT OF RESTRICTED SHARE UNITS (the “Notice”). 

 

			
	Participant:	  	Robert Craig Breese
		
	Date of Grant:	  	March 8, 2012
		
	Number of Restricted Share Units:	  	58,892
		
	Initial Vesting Date:	  	March 8, 2013
		
	Vesting Schedule:	  	Subject to the Terms and Conditions, the Award shall vest and become nonforfeitable with respect to 28% of the total number of Restricted Share Units subject to the award on
the Initial Vesting Date and 9% quarterly thereafter, beginning June 20, 2013.* The Participant has no right to pro-rated vesting of the Award if his or her service to the Corporation terminates before any applicable vesting date (regardless of
the portion of the vesting period the Participant was in service to the Corporation).

  

	*	Except as otherwise provided in the Terms and Conditions, Participant will not vest in the Restricted Share Units unless he is a service provider to the Corporation or
one of its affiliates through the applicable vesting date. 

	II.	TERMS AND CONDITIONS 

  

	1.	DEFINITIONS AND CONSTRUCTION 

 1.1 Definitions. Unless otherwise defined herein, capitalized terms shall have the meanings assigned to such terms in Appendix A. 
 1.2 Construction. Captions and titles contained herein are for convenience only and shall not affect the meaning or interpretation of any provision of this Award. Except when otherwise indicated by the
context, the singular shall include the plural and the plural shall include the singular. Use of the term “or” is not intended to be exclusive, unless the context clearly requires otherwise. 

 

	2.	GRANT 

 The Corporation grants to
the Participant the number of Restricted Share Units set forth on the Notice, subject to all of the terms and conditions set forth in the Notice and this Terms and Conditions. When Shares of the Corporation’s common stock (the
“Shares”) are paid to the Participant, par value will be deemed paid by the Participant for each Restricted Share Unit by past services rendered by the Participant. 

 

	3.	ADMINISTRATION 

3.1 Committee. 
 (a) This Award shall be administered by the Board. The Board may, however, appoint a Committee to administer the Award which shall consist of not less than a sufficient number of disinterested members of
the Board so as to qualify the Committee to administer this Award as contemplated by Rule 16b-3 and Section 162(m) of the Code. Vacancies on the Committee shall be filled by the Board. 

(b) The Board or Committee is authorized to (i) interpret and administer the Award, (ii) grant waivers and accelerations of the
Award, and (iii) take any other action necessary for the proper administration and operation of the Award. 
 3.2 Effect
of Determination. Determination of the Board or Committee shall be final, binding and conclusive on the Participant. No member of the Board or Committee or any of its designee shall be personally liable for any action or determination made in
good faith with respect to this Award. 
  

	4.	CORPORATION’S OBLIGATION TO PAY  

 Unless and until the Award has vested in the manner set forth in the Notice or paragraphs 6 or 7, the Participant will have no right to payment of such Restricted Share Units. Prior to actual payment of
any vested Restricted Share Units, such Restricted Share Units will represent an unsecured obligation. Payment of any vested Restricted Share Units will be made in whole Shares only, provided, however, that if the Corporation determines that it is
necessary or advisable, the Shares subject to this Award shall be sold immediately upon settlement of the Award, and the Participant shall receive the proceeds from the sale, less any applicable fees and taxes or other required withholding.

  
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	5.	VESTING SCHEDULE/PERIOD OF RESTRICTION 

 Except as provided in paragraphs 6 or 7, the Restricted Share Units will vest in accordance with the schedule set forth in the Notice. Restricted Share Units will not vest unless the Participant has been
continuously employed by the Corporation or by one of its affiliates from the Grant Date until the date the Restricted Share Units are scheduled to vest. 
  

	6.	TERMINATION WITHOUT CAUSE OR RESIGNATION FOR GOOD REASON  

 Unvested Restricted Share Units will vest immediately upon Participant’s termination Without Cause or Resignation for Good Reason concurrent with or subsequent to a Change in Control. In the event
that any applicable law limits the Corporation’s ability to accelerate the vesting of this Award, this paragraph 6 will be limited to the extent required to comply with applicable law. 

 

	7.	BOARD DISCRETION 

 The Board, in its discretion, may accelerate the vesting of the balance, or some lesser portion of the balance, of the Restricted Share Units at any time, subject to the terms of the Award. If so
accelerated, such Restricted Share Units will be considered as having vested as of the date specified by the Board. Subject to the provisions of this paragraph 7, if the Board, in its discretion, accelerates the vesting of the balance, or some
lesser portion of the balance, of the Restricted Share Units, the payment of such accelerated Restricted Share Units shall be made within two and one-half
(2 1/2) months following the end of the
Corporation’s tax year that includes the date such accelerated Restricted Share Units vest. 
  

	8.	PAYMENT AFTER VESTING 

 Any Restricted Share Units that vest in accordance with the Notice or paragraphs 6 or 7 will be paid to the Participant (or in the event of the Participant’s death, to his or her estate) as soon as
practicable following the date of vesting, but in all cases within two and one-half (2 1/2) months following the end of the Corporation’s tax year that includes the date such Restricted Share Units vest. For each Restricted Share Unit that vests, the Participant will receive one
Share, subject to paragraph 13. The Participant hereby authorizes the Corporation, in its sole discretion, to deposit for the benefit of the Participant with any broker with which the Participant has an account relationship of which the Corporation
has notice any or all Shares acquired by the Participant pursuant to the Restricted Share Units issuance. Except as provided by the preceding sentence, a certificate for the shares as to which the Restricted Share Units are issued shall be
registered in the name of the Participant, or, if applicable, in the names of the heirs of the Participant. 
  

	9.	FORFEITURE 

 Notwithstanding any
contrary provision of this Award, the balance of the Restricted Share Units that have not vested pursuant to the Notice or paragraphs 6 or 7 at the time of the Participant’s termination of service for any or no reason will be forfeited.

  
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	10.	WITHHOLDING OF TAXES 

 When Shares
are issued as payment for vested Restricted Share Units or, in the discretion of the Corporation, such earlier time as the Tax Obligations (defined below) are due, the Corporation (or the employing affiliate) will withhold a portion of the Shares
that have an aggregate market value sufficient to pay all taxes and social insurance liability and other requirements in connection with the Shares that are required to be withheld by the Corporation or the employing affiliate (collectively, the
“Tax Obligations”). The number of Shares withheld pursuant to the prior sentence will be rounded up to the nearest whole Share, with no refund provided in the United States for any value of the Shares withheld in excess of the tax
obligation as a result of such rounding. Notwithstanding the foregoing, the Corporation, in its sole discretion, may require the Participant to make alternate arrangements satisfactory to the Corporation for such withholdings or remittances in
advance of the arising of any remittance obligations to which the Participant has agreed or any withholding obligations. 
 Notwithstanding any
contrary provision of this Award, no Shares will be issued unless and until satisfactory arrangements (as determined by the Corporation) have been made by the Participant with respect to the payment of any income and other taxes that the Corporation
determines must be withheld or collected with respect to such Shares. In addition and to the maximum extent permitted by law, the Corporation (or the employing affiliate) has the right to retain without notice from salary or other amounts payable to
the Participant, cash having a sufficient value to satisfy any Tax Obligations that the Corporation determines cannot be satisfied through the withholding of otherwise deliverable Shares or that are due prior to the issuance of Shares under the
Restricted Share Units award. All Tax Obligations related to the Restricted Share Units award and any Shares delivered in payment thereof are the sole responsibility of the Participant. 

 

	11.	RIGHTS AS STOCKHOLDER 

 Neither the
Participant nor any person claiming under or through the Participant will have any of the rights or privileges of a stockholder of the Corporation in respect of any Shares deliverable hereunder unless and until certificates representing such Shares
(which may be in book entry form) will have been issued, recorded on the records of the Corporation or its transfer agents or registrars, and delivered to the Participant (including through electronic delivery to a brokerage account).
Notwithstanding any contrary provisions in this Terms and Conditions, any quarterly or other regular, periodic dividends or distributions (as determined by the Corporation) paid on Shares will affect neither unvested Restricted Share Units nor
Restricted Share Units that are vested but unpaid, and no such dividends or other distributions will be paid on unvested Restricted Share Units or Restricted Share Units that are vested but unpaid. After such issuance, recordation and delivery, the
Participant will have all the rights of a stockholder of the Corporation with respect to voting such Shares and receipt of dividends and distributions on such Shares. 
  

	12.	NO EFFECT ON EMPLOYMENT 

 This
Award is not an employment or Service contract, and nothing in the Award shall be deemed to create in any way whatsoever any obligation on the Participant to continue in the Service of the Corporation or on the part of the Corporation to
continue such service. In addition, nothing 

  
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in the Award shall obligate the Corporation, its respective stockholders, Board or employees to continue any relationship that the Participant might have as an employee or Director for the
Corporation. 
  

	13.	CHANGES IN SHARES 

 In the event
that as a result of a stock or extraordinary cash dividend, stock split, distribution, reclassification, recapitalization, combination of the Shares or the adjustment in capital stock of the Corporation or otherwise, or as a result of a merger,
consolidation, spin-off or other corporate transaction or event, the Restricted Share Units will be increased, reduced or otherwise affected, and by virtue of any such event the Participant will in his capacity as owner of unvested Restricted Share
Units that have been awarded to him (the “Prior Restricted Share Units”) be entitled to new or additional or different Shares of stock, cash or other securities or property (other than rights or warrants to purchase securities); such new
or additional or different Shares, cash or securities or property will thereupon be considered to be unvested Restricted Share Units and will be subject to all of the conditions and restrictions that were applicable to the Prior Restricted Share
Units pursuant to the Notice and Terms and Conditions. If the Participant receives rights or warrants with respect to any Prior Restricted Share Units, such rights or warrants may be held or exercised by the Participant, provided that until such
exercise, any such rights or warrants, and after such exercise, any Shares or other securities acquired by the exercise of such rights or warrants, will be considered to be unvested Restricted Share Units and will be subject to all of the conditions
and restrictions that were applicable to the Prior Restricted Share Units pursuant to the Notice and Terms and Conditions. The Board in its sole discretion at any time may accelerate the vesting of all or any portion of such new or additional Shares
of stock, cash or securities, rights or warrants to purchase securities or Shares or other securities acquired by the exercise of such rights or warrants. 
  

	14.	ADDRESS FOR NOTICES 

 Any notice to
be given to the Corporation under the terms of this Award shall be addressed to the Corporation, in care of Investor Relations, at Clean Diesel Technologies, Inc., 4567 Telephone Road, Suite 100, Ventura, CA 93003, U.S.A., or at such other address
as the Corporation may hereafter designate in writing. 
  

	15.	AWARD IS NOT TRANSFERABLE 

 This
Award and the rights and privileges conferred hereby shall not be sold, pledged, assigned, hypothecated, transferred or disposed of any way (whether by operation of law or otherwise) and shall not be subject to sale under execution, attachment or
similar process, until the Participant has been issued Shares in payment of the Restricted Share Units. Upon any attempt to sell, pledge, assign, hypothecate, transfer or otherwise dispose of this grant, or any right or privilege conferred hereby,
or upon any attempted sale under any execution, attachment or similar process, this grant and the rights and privileges conferred hereby immediately will become null and void. 

 

	16.	RESTRICTIONS ON SALE OF SECURITIES 

The Shares issued as payment for vested Restricted Share Units under this Award will be registered under U. S. federal securities laws and will be freely
tradable upon receipt. However, 

  
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Participant’s sale of the shares may be subject to any market blackout period that may be imposed by the Corporation and must comply with the Corporation’s insider trading policies, and
any other applicable securities laws. 
  

	17.	BINDING AGREEMENT 

 Subject to the
limitation on the transferability of this Award contained herein, the Notice and this Terms and Conditions will be binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties hereto.

  

	18.	ADDITIONAL CONDITIONS TO ISSUANCE OF CERTIFICATES FOR SHARES 

 The Corporation will not be required to issue any certificate or certificates (which may be in book entry form) for Shares hereunder prior to fulfillment of all the following conditions: (a) the
admission of such Shares to listing on all stock exchanges on which such class of stock is then listed; (b) the completion of any registration or other qualification of such Shares under any U. S. state or federal law or under the rulings or
regulations of the Securities and Exchange Commission or any other governmental regulatory body, which the Board will, in its sole discretion, deem necessary or advisable; (c) the obtaining of any approval or other clearance from any U. S.
state or federal governmental agency, which the Board will, in its sole discretion, determine to be necessary or advisable; and (d) the lapse of such reasonable period of time following the date of vesting of the Restricted Share Units as the
Board may establish from time to time for reasons of administrative convenience. 
  

	19.	AGREEMENT SEVERABLE 

 In the event
that any provision in the Notice or the Terms and Conditions is held invalid or unenforceable, such provision will be severable from, and such invalidity or unenforceability will not be construed to have any effect on, the remaining provisions of
this Award. 
  

	20.	SECTION 409A OF THE CODE 

 It is
the intent of this Award to comply with the requirements of Section 409A so that none of the Restricted Share Units provided under this Award or Shares issuable there under will be subject to the additional tax imposed under Section 409A,
and any ambiguities herein will be interpreted to so comply. For purposes of this Award, “Section 409A” means Section 409A of the Internal Revenue Code of 1986, as amended and any proposed, temporary or final Treasury Regulations and
Internal Revenue Service guidance there under, as each may be amended from time to time. 
 If the vesting of the balance, or some lesser
portion of the balance, of the Restricted Share Units is accelerated in connection with Participant’s termination of service (provided that such termination is a “separation from service” within the meaning of Section 409A, as
determined by the Corporation), other than due to death, and if (a) Participant is a “specified employee” within the meaning of Section 409A at the time of such termination of service and (b) the payment of such
accelerated Restricted Share Units will result in the imposition of additional tax under Section 409A if paid to the Participant on or within the six (6) month period following Participant’s termination of service, then the payment of
such accelerated Restricted Share Units 

  
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will not be made until the date six (6) months and one (1) day following the date of Participant’s termination of service, unless the Participant dies following his termination of
service, in which case, the Restricted Share Units will be paid in Shares to the Participant’s estate as soon as practicable following his death. 
  

	21.	MODIFICATIONS TO THE AWARD 

 This
Notice and the Terms and Conditions constitute the entire understanding of the parties on the subjects covered. The Participant expressly warrants that he or she is not accepting this Award in reliance on any promises, representations, or
inducements other than those contained herein. Modifications to this Award can be made only in an express written contract executed by a duly authorized officer of the Corporation. The Corporation reserves the right to revise this Award as it deems
necessary or advisable, in its sole discretion and without the consent of the Participant, to comply with Section 409A of the Code or to otherwise avoid imposition of any additional tax or income recognition under Section 409A of the Code
prior to the actual payment of Shares pursuant to this award of Restricted Share Units. 
  

	22.	ARBITRATION 

 Any and all disputes
whatsoever between a Participant and the Corporation concerning the administration of this Award, the interpretation and effect of the Notice and Terms and Conditions or the rights of Participant under the Award shall be finally determined before
one neutral arbitrator in the County of Ventura, California, U.S.A, under the rules of commercial arbitration of the American Arbitration Association then in effect and judgment upon any award by such arbitrator may be entered in any Court having
jurisdiction or application may be made to such court for a judicial acceptance of the award and an order of enforcement, as the case may be. The arbitrator hereunder shall have no power or authority to award consequential, punitive or statutory
damages. 
  

	23.	GOVERNING LAW 

 This Award and the
rights of the Corporation and the Participants shall be governed and interpreted in accordance with the laws of California, U.S.A. 

  
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 This Award is granted to Participant as an inducement material to his entering into employment with the
Corporation within the meaning of Rule 5635(c)(4) of the NASDAQ Listing Rules. In addition, notwithstanding any other provision of the Award to the contrary, the Restricted Share Units are granted either by a majority of the Corporation’s
independent directors or by the independent compensation committee of the Board within the meaning of Rule 5605(a)(2) of the NASDAQ Listing Rules. 
 By signing below, Participant: (a) acknowledges receipt of, and represents that Participant has read and is familiar with the terms and conditions of the Award, (b) accepts the Award subject to
all of the terms and conditions set forth herein, and (c) agrees to accept as binding, conclusive and final all decisions or interpretations of the Board upon any questions arising under the Award. 

 

													
		 	CLEAN DIESEL TECHNOLOGIES, INC.	  	PARTICIPANT	  	
						
		 	By:	  	 /s/ Nikhil A Mehta
	  		  	 /s/ Robert Craig Breese
	  	
		 		  	Nikhil A. Mehta	  		  	Robert Craig Breese	  	
				
		 	Its: Chief Financial Officer	  	Date: March 26, 2012	  	
							
		 	Address:	  	 4567 Telephone Road

Suite 100
	  		  	 Address:
	  	 4567 Telephone Road

Suite 100
	  	
		 		  	Ventura, CA 93003	  		  		  	Ventura, CA 93003	  	

  
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 APPENDIX A 

Definitions 
  

	a)	“Award” means this Restricted Share Units Award. 

  

	b)	“Board” means the Board of Directors of the Corporation. 

  

	c)	“Cause” means Participant’s (A) gross negligence or severe or continued misconduct in the performance of Participant’s material
duties; (B) commission of or pleas of “guilty” or “no contest” to a felony offense or commission of any unlawful or criminal act which would be detrimental to the reputation or character of the Corporation;
(C) participation in fraud or an act of dishonesty against the Corporation; (D) intentional material damage to or misappropriation of the Corporation’s property; material breach of Corporation policies or regulations; or
(E) material breach of Participant’s Employment Agreement that is not cured to the Corporation’s reasonable satisfaction within five (5) days after written notice thereof to Participant (provided that any such breach which is not
capable of cure, shall immediately constitute “Cause”). 

  

	d)	“Change in Control” means a change in ownership or control of the Corporation effected through any of the following transactions: (A) a merger,
consolidation or other reorganization, unless securities representing more than fifty percent (50%) of the total combined voting power of the voting securities of the successor company are immediately thereafter beneficially owned, directly or
indirectly, by the persons who beneficially owned the Corporation’s outstanding voting securities immediately prior to such transaction; (B) a sale, transfer or other disposition of all or substantially all of the Corporation’s assets
in liquidation or dissolution of the Corporation; (C) the acquisition, directly or indirectly by any person or related group of persons (other than the Corporation or a person that directly or indirectly controls, is controlled by, or is under
common control with, the Corporation), of beneficial ownership of securities possessing more than fifty percent (50%) of the total combined voting power of the Corporation’s outstanding securities pursuant to a transfer of the then issued
and outstanding voting securities of the Corporation by one or more of the Corporation’s shareholders; and (D) during any period of two (2) consecutive years, individuals who, at the beginning of such period, constitute the Board (the
“Incumbent Board”) cease for any reason to constitute at least a majority of the Board, provided that any person becoming a director of the Board subsequent to the date of the grant of this Award whose election, or a nomination for
election by the Corporation’s shareholders, was approved by the vote of at least a majority of the directors then comprising the Incumbent Board (other than an election or nomination of any individual whose initial assumption of office is in
connection with an actual or threatened election contest relating to the election of the directors of the Board, as such terms are used in Rule 14a-11 of Regulation 14A promulgated under the Exchange Act of 1934. Anything in the foregoing
to the contrary notwithstanding, a transaction shall not constitute a Change in Control if its sole purpose is to change the legal jurisdiction of the Corporation’s incorporation or to create a holding company that will be owned in
substantially the same proportions by the persons who held the Corporation’s securities immediately before such transaction. 

	e)	“Code” means the United States Internal Revenue Code of 1986, as amended and in effect from time to time, or any successor statute.

  

	f)	“Committee” means the Committee of the Board or any successor committee as described in Section 3.1, or, if there shall be no such Committee, the
Board. 

  

	g)	“Corporation” means Clean Diesel Technologies, Inc., a Delaware corporation, or any successor corporation, and its subsidiaries and affiliates,
incorporated or otherwise, in which the Corporation shall own directly or indirectly at least fifty percent (50%) of the interests. 

  

	h)	“Director” means a member of the Board of Directors of the Corporation. 

 

	i)	“Employee” means any individual who is a salaried employee on the payroll of the Corporation. 

 

	j)	“Exchange Act” means the Securities Exchange Act of 1934, as amended and in effect from time to time, or any successor statute.

  

	k)	“Good Reason” means (A) a material diminution in the nature or scope of Participant’s responsibilities, duties or authority; (B) the
Corporation’s requirement that Participant be based at any location more than 50 miles from Participant’s current corporate office location in Ventura; (C) any other action or inaction that constitutes a material breach by the
Corporation of the Participant’s Employment Agreement; or (D) a material diminution in Participant’s base salary. 

  

	l)	“Restricted Share Units” are the grant of rights to receive Shares on a future date subject to the terms, conditions and restrictions as set forth
under this Award. 

  

	m)	“Rule 16b-3” means such rule as promulgated by the Securities and Exchange Commission under the Exchange Act as now in force or as such regulation or
successor regulation shall be hereafter amended. 

  

	n)	“Shares” means Shares of the Corporation’s Common Stock.Restricted Stock Unit Award Agreement

 Exhibit 10.26 
 SEMTECH CORPORATION 
 2008 LONG-TERM EQUITY INCENTIVE PLAN 

RESTRICTED STOCK UNIT AWARD CERTIFICATE 
 THIS AWARD is made this [Date] (the “Award Date”) by Semtech Corporation, a Delaware corporation (the “Corporation”), to [Name] (the “Participant”). 

R E C I T A L S 
 A. The Corporation has established the Corporation’s 2008 Long-Term Equity Incentive Plan (the “Plan”) in order to provide eligible persons of the Corporation with an opportunity to acquire
shares of the Corporation’s common stock, par value $0.01 per share (the “Common Stock”). 
 B. The Participant
was a former shareholder of Cycleo SAS and NanoScale-Labs SAS (the “Cycleo Companies”) prior to the purchase of the Cycleo Companies by the Corporation and its Subsidiaries pursuant to the terms of a Share Purchase Agreement entered into
by the Corporation, the Cycleo Companies, the Participant and certain other parties thereto (the “Share Purchase Agreement”). 
 C. This restricted stock unit award (the “Award”) is being granted to the Participant on the terms and conditions described in this Award Certificate in full satisfaction of the
Corporation’s and its affiliates’ obligations under the Share Purchase Agreement to grant the Participant restricted stock unit awards. 
 D. The Plan Administrator has determined that it would be in the best interests of the Corporation and its stockholders to grant the Award described in this Award Certificate to the Participant.

 NOW, THEREFORE, this Award is made on the following terms and conditions: 

Definitions and Incorporation. Capitalized terms used in this Award Certificate and not otherwise defined herein shall have the
meanings given to such terms in the Plan. The Plan is hereby incorporated in and made a part of this Award Certificate as if fully set forth herein. 
 Award of Stock Units. Pursuant to the Plan, the Corporation hereby awards to the Participant as of the date hereof an Award with respect to
[                    ] restricted stock units (subject to adjustment in accordance with Section 7 of the Plan) (the “Stock Units”),
which Stock Units are restricted and subject to forfeiture on the terms and conditions hereinafter set forth. As used herein, the term “Stock Unit” shall mean a non-voting unit of measurement which is deemed solely for purposes of
calculating the amount of payment under the Plan and this Award Certificate to be equivalent to one outstanding share of the Common Stock (subject to adjustment in accordance with Section 7 of the Plan). The Stock Units shall be used solely as
a device for the determination of the payment to eventually be paid to the Participant if such Stock Units vest and become attributable pursuant to Section 4 hereof. The Stock Units shall not be treated as property or as a trust fund of any
kind. The Participant acknowledges that the Plan Administrator may use a broker or other third party to facilitate its restricted stock unit award recordkeeping and agrees to comply with any administrative rules and procedures regarding restricted
stock unit awards as may be in place from time to time. The Participant acknowledges and agrees that the Corporation may require that any Common Stock received under the Award be deposited in a brokerage account (in the name of the Participant) with
a broker designated by the Corporation, and the Participant agrees to take such reasonable steps as the Corporation may require to open and maintain such an account. 
 Rights as a Shareholder; Dividends and Voting. 
 Limitations on
Rights Associated with Units. The Participant shall have no rights as a shareholder of the Corporation, no dividend rights (except as expressly provided in Section 3(b) below with respect to dividend equivalent rights) and no voting rights,
with respect to the Stock Units and any shares of Common Stock underlying such Stock Units. 
 Dividend Equivalent
Rights Distributions. In the event that the Corporation pays an ordinary cash dividend on its Common Stock and the related dividend payment record date occurs at any time after the Award Date and before all of the Stock Units subject to the
Award have either been paid pursuant to Section 5 or 

 
terminated pursuant to Section 4, the Corporation shall credit the Participant as of such record date with an additional number of Stock Units equal to (i) the per-share cash
dividend paid by the Corporation on its Common Stock with respect to such record date, multiplied by (ii) the total number of outstanding and unpaid Stock Units (including any dividend equivalents previously credited hereunder) (with such total
number adjusted pursuant to Section 7 of the Plan and/or Section 9 hereof) subject to the Award as of such record date, divided by (iii) the fair market value of a share of Common Stock (as determined under the Plan) on such record
date. Any Stock Units credited pursuant to the foregoing provisions of this Section 3(b) shall be subject to the same vesting, payment and other terms, conditions and restrictions as the original Stock Units to which they relate. No crediting
of Stock Units shall be made pursuant to this Section 3(b) with respect to any Stock Units which, as of such record date, have either been paid pursuant to Section 5 or terminated pursuant to Section 4. 

Vesting; Termination of Employment. 
 Vesting in General. Subject to Sections 4(b) and (c) below and to adjustment under Section 7 of the Plan, the Award shall vest and become attributed as follows: 

 

	 	•	 	 forty percent (40%) of the total number of Stock Units subject to the Award shall vest and become attributable on the first anniversary date of
the completion date of the Corporation’s purchase of the Cycleo Companies pursuant to the Share Purchase Agreement, 

  

	 	•	 	 ten percent (10%) of the total number of Stock Units subject to the Award shall vest and become attributable on the second anniversary date of
the completion date of the Corporation’s purchase of the Cycleo Companies pursuant to the Share Purchase Agreement, 

  

	 	•	 	 ten percent (10%) of the total number of Stock Units subject to the Award shall vest and become attributable on the third anniversary date of
the completion date of the Corporation’s purchase of the Cycleo Companies pursuant to the Share Purchase Agreement, and 

  

	 	•	 	 forty percent (40%) of the total number of Stock Units subject to the Award shall vest and become attributable on the fourth anniversary date
of the completion date of the Corporation’s purchase of the Cycleo Companies pursuant to the Share Purchase Agreement, 

 Subject to Sections 4(b) and (c) below, the Participant has no right to pro-rated vesting with respect to the Award if his or her employment by the Corporation or one of its Subsidiaries terminates
before any applicable vesting date with respect to the Award (regardless of the portion of the vesting period the Participant was employed by the Corporation and/or any of its Subsidiaries). 

Accelerated Vesting and Attribution Conditions. Notwithstanding any other provision to the contrary contained herein, 100% of
the total Stock Units subject to the Award shall be vested and attributed as of the date of the Participant’s termination of employment (the “Termination Date”) in the event the Participant’s employment is terminated for any
reason other than (1) a resignation (“démission”) by the Participant of his employment with the Corporation or any of its Subsidiaries or (2) a valid dismissal (“licenciement”) of the Participant’s
employment on the ground of a termination for serious cause (“faute grave” or “faute lourde” within the meaning of the French Cour de cassation), each of which termination events shall be considered a “condition
résolutoire.” For the avoidance of doubt, 100% of the total Stock Units subject to the Award shall be vested and attributed as of the Termination Date upon the occurrence of: 

 

	 	•	 	 the Participant’s termination of employment or departure for reason of death, permanent disability (in the meaning of the French article L
341-4 sécurité sociale Code category 2 or 3) or dismissal (including by way of “rupture conventionnelle”) on grounds other than for serious cause (“faute grave”or “faute lourde”),

  
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	 	•	 	 if any of the Cycleo Companies is sold and ceases to be a Subsidiary of the Corporation and thereafter the Participant ceases to be an employee of
the Corporation or one of its Subsidiaries for any reason (including resignation (“démission”) by the Participant), 

  

	 	•	 	 if any of the Cycleo Companies’ Intellectual Property Rights (as defined in the Share Purchase Agreement) are sold to a third party other than
the Corporation or one of its Subsidiaries and thereafter the Participant ceases to be an employee of the Corporation or one of its Subsidiaries for any reason (including resignation (“démission”) by the Participant),

  

	 	•	 	 if Semtech Holdings France is (A) sold to a third party other than the Corporation or one of its Subsidiaries, or (B) if it is decided,
for any reason whatsoever, to stop Semtech Holdings France’s activity or to close down Semtech Holdings France’s operations on the French territory, except for a winding up or merger inducing a transfer of assets and liabilities to the
Corporation or any of its Subsidiaries (it being specified for the avoidance of doubt that if the activity is being stopped after such transfer to the Corporation or any of its Subsidiaries it shall be treated the same as if Semtech Holdings
France’s activity was stopped), and in each case thereafter the Participant ceases to be an employee of the Corporation or one of its Subsidiaries for any reason (including resignation (“démission”) by the Participant).

 For purposes hereof, if a final and binding court decision (“autorité de la chose jugée”)
provides that the dismissal for serious cause (“faute grave” or “faute lourde”) is not valid, 100% of the total Stock Units subject to the Award shall be vested and attributed as of the date of such court decision, and the
Corporation shall pay the Participant, within five (5) days after such court decision, a late cash payment equal to the fair market value as of the Termination Date of the Stock Units becoming vested and attributed as a result of such court
decision multiplied by an annual interest rate of four percent (4%) from the Termination Date. 
 Effect of
Termination of Employment. Subject to Section 4(b) and after giving effect to any accelerated vesting pursuant to Section 4(b), if the employment of the Participant with the Corporation or a Subsidiary is terminated for any reason,
then the Stock Units (and related dividends) which have not vested and become attributed as of the Termination Date shall terminate. If any unvested Stock Units are terminated hereunder, such Stock Units shall automatically terminate and be
cancelled as of the applicable termination date without payment of any consideration by the Corporation and without any other action by the Participant, or the Participant’s beneficiary or personal representative, as the case may be.

 Timing and Manner of Payment of Stock Units. On or as soon as practicable following (and in all events within five
(5) days after) the vesting and attribution of any portion of the Award pursuant to Section 4, the Corporation shall deliver to the Participant a number of shares of Common Stock equal to the number of Stock Units subject to the Award that
vested and became attributed on that particular vesting date; provided, however, that the Corporation reserves the right to settle any Stock Units credited as dividend equivalents pursuant to Section 3(b) by cash payment. In the event of such a
cash payment, the cash payable with respect to a Stock Unit shall equal the fair market value of a share of Common Stock (such fair market value determined under the Plan) as of the vesting date of that Stock Unit. The Corporation’s obligation
to deliver shares of Common Stock or otherwise make payment with respect to vested and attributed Stock Units is subject to the condition precedent that the Participant or other person entitled under the Plan to receive any shares with respect to
the vested and attributed Stock Units deliver to the Corporation any representations or other documents or assurances required pursuant to Section 8.1 of the Plan. Except for any delay resulting from a failure to deliver to the Corporation any
representations or other documents or assurances required pursuant to Section 8.1 of the Plan as required to the immediately preceding sentence, any delay by the Corporation in delivering the shares of Common Stock becoming payable pursuant to
this Section 5 shall trigger the obligation of the Corporation to pay the Participant a late cash payment equal to the fair market value on the original payment date of the Stock Units becoming payable pursuant to this Section 5 multiplied
by an annual interest rate of four percent (4%) from the date payment was due. The Participant shall have no further rights with respect to any Stock Units that are paid pursuant to this Section 5 or that terminate pursuant to
Section 4(c). 
 Non-Transferability of Award. This Award is personal and, prior to the time they have become vested
and attributed pursuant to Section 4 hereof or Section 7 of the Plan, neither the Stock Units nor any rights hereunder may 

  
 3 

 
be transferred, assigned, pledged or hypothecated by the Participant in any way (whether by operation of law or otherwise), other than by will or the laws of descent and distribution, nor shall
any such rights be subject to execution, attachment or similar process; provided, however, that such restrictions shall not apply to transfers to the Corporation. Except as otherwise provided herein, any attempted alienation, assignment, pledge,
hypothecation, attachment, execution or similar process, whether voluntary or involuntary, with respect to all or any part of the Participant’s unvested rights under this Award, shall be null and void. 

Not a Contract of Employment. Nothing in this Award Certificate gives the Participant the right to remain in the employ of or
other service to the Corporation or any Subsidiary or affects the absolute and unqualified right of the Corporation and any of its Subsidiaries to terminate the Participant’s employment or other service at any time for any reason or no reason
and with or without cause or prior notice. Except to the extent explicitly provided otherwise in a then effective written employment contract executed by the Participant and the Corporation or any Subsidiary, the Participant is an at will employee
whose employment may be terminated without liability at any time for any reason. 
 Tax Consequences. 

Tax Consultation. The Participant hereby represents to the Corporation that the Participant is a citizen and resident of
France, and that the Participant is not a United Sates citizen or resident alien subject to United States income tax. The Participant may suffer adverse tax consequences as a result of his or her acquisition or disposition of the Stock Units. The
Participant will be solely responsible for satisfaction of any taxes that may arise with respect to the Award. The Corporation shall not have any obligation whatsoever to pay such taxes. The Corporation has not and will not provide any tax advice to
the Participant. The Participant should consult with his or her own personal tax advisors to the extent he or she deems advisable in connection with the acquisition or disposition of the Stock Units. 

Withholding. Upon any distribution of shares of Common Stock in respect of the Stock Units, the Corporation shall
automatically reduce the number of shares to be delivered by (or otherwise reacquire) the appropriate number of whole shares, valued at their then fair market value (with the “fair market value” of such shares determined in accordance
with the applicable provisions of the Plan), to satisfy withholding obligations, if any, of the Corporation or its Subsidiaries with respect to such distribution of shares at the minimum applicable withholding rates. In the event that the
Corporation cannot legally satisfy such withholding obligations by such reduction of shares, or in the event of a cash payment or any other withholding event in respect of the Stock Units, the Corporation (or a Subsidiary) shall be entitled to
require a cash payment by or on behalf of the Participant and/or to deduct from other compensation payable to the Participant any sums required by United Sates federal, state or local tax law, or by any non-United States tax law, to be withheld with
respect to such distribution or payment. 
 Adjustments Upon Specified Events. Upon the occurrence of certain events
relating to the Corporation’s stock contemplated by Section 7 of the Plan, the Plan Administrator shall make adjustments in accordance with such section in the number of Stock Units then outstanding and the number and kind of securities
that may be issued in respect of the Award. No such adjustment shall be made with respect to any ordinary cash dividend for which dividend equivalents are credited pursuant to Section 3(b). 

Severability. In the event that any provision or portion of this Award Certificate shall be determined to be invalid or
unenforceable for any reason, in whole or in part, in any jurisdiction, the remaining provisions of this Award Certificate shall be unaffected thereby and shall remain in full force and effect to the fullest extent permitted by law in such
jurisdiction, and such invalidity or unenforceability shall have no effect in any other jurisdiction. 
 Binding Effect.
This Award Certificate shall extend to, be binding upon and inure to the benefit of the Participant and the Participant’s legal representatives, heirs, successors and assigns (subject, however, to the limitations set forth in Section 6
with respect to the transfer of this Award Certificate or any rights hereunder or of the Stock Units), and upon the Corporation and its successors and assigns, regardless of any change in the business structure of the Corporation, be it through
spin-off, merger, sale of stock, sale of assets or any other transaction. 

  
 4 

 Notices. Any notice to the Corporation contemplated by this Award Certificate shall
be in writing and addressed to it in care of its President; and any notice to the Participant shall be addressed to him or her at the address on file with the Corporation on the date hereof or at such other address as he or she may hereafter
designate in writing. 
 Entire Agreement. This Award Certificate, together with the Plan, constitutes the entire
understanding between the Corporation and the Participant with regard to the subject matter of this Award Certificate. They supersede any other agreements, representations or understandings (whether oral or written and whether express or implied)
which relate to the subject matter of this Award Certificate. 
 The Corporation represents and warrants to the Participant that
there will be no condition of vesting or of attribution other than those expressly described in this Award Certificate and the Plan. 
 The Participant hereby agrees that the grant of this Award is in full satisfaction of the Corporation’s or any affiliate’s obligation under the Share Purchase Agreement to grant the Participant
restricted stock unit or similar awards. 
 Waiver. The waiver of any breach of any duty, term or condition of this Award
Certificate shall not be deemed to constitute a waiver of any preceding or succeeding breach of the same or of any other duty, term or condition of this Award Certificate. 
 Interpretation. The interpretation, construction, performance and enforcement of the terms and conditions of this Award Certificate and the Plan shall lie within the sole discretion of the Plan
Administrator, and the Plan Administrator’s determinations shall be conclusive and binding on all interested persons. 
 Choice of
Law. This Award Certificate shall be governed by, and construed in accordance with, the laws of the State of California (disregarding any choice-of-law provisions). Any dispute or disagreement regarding the Participant’s rights under this
Award Certificate shall be settled by an independent third party expert. Such third party expert shall be appointed in accordance with the provisions of article 1843-4 of the French civil code and the claim will be settled under French law.

  

	
	SEMTECH CORPORATION,
	a Delaware corporation
	
	Emeka Chukwu
	Vice President-Finance and
	Chief Financial Officer

  
 5

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