Document:

iphi20150630_10q.htm

Exhibit 10.1

 

 

 

 

 

 

 

 

 

 

INPHI CORPORATION

 

EMPLOYEE STOCK PURCHASE PLAN

 

(As Amended and Restated Effective April 3, 2015)

 

 

 

 

 

 

Table of Contents

 

	 	 	 	 Page
	 	 	 	 
	
SECTION 1 
	Purpose Of The Plan.	1
	
 
	
 
	 	
 

	
SECTION 2  
	Definitions	
1

	 	(a) “Board”	1
	 	(b) “Code”	1
	 	(c) “Committee”	1
	 	(d) “Company”	1
	 	(e) “Compensation” 	1
	 	(f) “Corporate Reorganization”	1
	 	(g) “Eligible Employee”	2
	 	(h) “Exchange Act” 	2
	 	(i)  “Fair Market Value”     	2
	 	(j)  “Offering” 	2
	 	(k) “Offering Date” 	2
	 	(l)  “Offering Period” 	2
	 	(m)“Participant” 	2
	 	(n) “Participating Company” 	2
	 	(o) “Plan” 	2
	 	(p) “Plan Account” 	2
	 	(q) “Purchase Date” 	3
	 	(r)  “Purchase Period” 	3
	 	(s) “Purchase Price” 	3
	 	(t)  “Stock”  	3
	 	(u) “Subsidiary” 	3
	 	 	 	 
	SECTION 3	Administration Of The Plan	3
	 	(a) Committee Composition	3
	 	(b) Committee Responsibilities	3
	 	 	 	 
	SECTION 4	Enrollment And Participation	4
	 	(a) Offering Periods	4
	 	(b) Enrollment	4
	 	(c) Duration of Participation	4
	 	 	 	 
	SECTION 5 	Employee Contributions	5
	 	(a) Frequency of Payroll Deductions	5
	 	(b) Amount of Payroll Deductions 	5
	 	(c) Changing Withholding Rate     	5
	 	(d) Discontinuing Payroll Deductions	5
	 	 	 	 
	SECTION 6 	Withdrawal From The Plan	5
	 	(a) Withdrawal 	5
	 	(b) Re-enrollment After Withdrawal	6
	 	 	 	 
	SECTION 7	Change In Employment Status	6
	 	(a) Termination of Employment 	6
	 	(b) Leave of Absence	6
	 	(c) Death 	6
	 	 	 	 
	SECTION 8 	Plan Accounts And Purchase Of Shares	6
	 	(a) Plan Accounts 	6
	 	(b) Purchase Price	6
	 	(c) Number of Shares Purchased 	6
	 	(d) Available Shares Insufficient 	7
	 	(e) Issuance of Stock	7
	 	(f) Unused Cash Balances	7
	 	(g) Stockholder Approval	7
	 	 	 	 
	SECTION 9	Limitations On Stock Ownership	7
	 	(a) Five Percent Limit	7
	 	(b) Dollar Limit 	8
	 	 	 	 
	SECTION 10	Rights Not Transferable	8
	 	 	 	 
	SECTION 11 	No Rights As An Employee	8
	 	 	 	 
	SECTION 12	No Rights As A Stockholder	8
	 	 	 	 
	SECTION 13  	Securities Law Requirements	8
	 	 	 	 
	SECTION 14	Stock Offered Under The Plan	9
	 	(a) Authorized Shares	9
	 	(b) Antidilution Adjustments	9
	 	(c) Reorganizations 	9
	 	 	 	 
	SECTION 15	Amendment Or Discontinuance	9
	 	 	 	 
	SECTION 16	Execution	10

 

 

Inphi Corporation Employee Stock Purchase Plan

 

 

  

INPHI CORPORATION

 

EMPLOYEE STOCK PURCHASE PLAN

 

(As Amended and Restated Effective April 3, 2015)

 

 

 

The Plan was originally adopted by the Board on November 3, 2011, approved by stockholders December 8, 2011 and became effective on December 9, 2011. Subject to shareholder approval, the Board adopted this amended and restated Plan on April 3, 2015 in order to increase the shares of Stock available under the Plan. This amended and restated Plan will govern all options under the Plan to purchase shares of Stock delivered on or after the date of shareholder approval of the Plan. 

 

SECTION 1     Purpose Of The Plan.

 

The purpose of the Plan is to provide Eligible Employees with an opportunity to increase their proprietary interest in the success of the Company by purchasing Stock from the Company on favorable terms and to pay for such purchases through payroll deductions. The Plan is intended to qualify under section 423 of the Code. 

 

SECTION 2     Definitions.

 

(a)      “Board” means the Board of Directors of the Company, as constituted from time to time.

 

(b)     “Code” means the Internal Revenue Code of 1986, as amended.

 

(c)     “Committee” means a committee designated by the Board, as described in Section 3.

 

(d)     “Company” means Inphi Corporation, a Delaware corporation.

 

(e)     “Compensation” means the base salary and wages paid in cash to a Participant by a Participating Company, without reduction for any pre-tax contributions made by the Participant under sections 401(k) or 125 of the Code. “Compensation” shall exclude variable compensation (including bonuses, incentive compensation, commissions, overtime pay and shift premiums), all non-cash items, moving or relocation allowances, cost-of-living equalization payments, car allowances, tuition reimbursements, imputed income attributable to cars or life insurance, severance pay, fringe benefits, contributions or benefits received under employee benefit plans, income attributable to the exercise of stock options, and similar items. The Committee shall determine whether a particular item is included in Compensation. 

 

(f)     “Corporate Reorganization” means: 

 

(i)     The consummation of a merger or consolidation of the Company with or into another entity, or any other corporate reorganization; or

 

 

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(ii)     The sale, transfer or other disposition of all or substantially all of the Company’s assets or the complete liquidation or dissolution of the Company.

 

(g)     “Eligible Employee” means any employee of a Participating Company whose customary employment is for more than five months per calendar year and for more than 20 hours per week. The foregoing notwithstanding, an individual shall not be considered an Eligible Employee if his or her participation in the Plan is prohibited by the law of any country which has jurisdiction over him or her. 

 

(h)     “Exchange Act” means the Securities Exchange Act of 1934, as amended.

 

(i)     “Fair Market Value” means the fair market value of a share of Stock, determined by the Committee as follows:

 

(i)     If Stock was traded on any established national securities exchange including the New York Stock Exchange or the Nasdaq Global Market on the date in question, then the Fair Market Value shall be equal to the closing price as quoted on such exchange (or the exchange with the greatest volume of trading in the Stock) on such date; or

 

(ii)     If the foregoing provision is not applicable, then the Fair Market Value shall be determined by the Committee in good faith on such basis as it deems appropriate.

 

For any date that is not a Trading Day, the Fair Market Value of a share of Stock for such date shall be determined by using the closing sale price for the immediately preceding Trading Day. Whenever possible, the determination of Fair Market Value by the Committee shall be based on the prices reported in the Wall Street Journal or as reported directly to the Company by the stock exchange. Such determination shall be conclusive and binding on all persons.

 

(j)      “Offering” means the grant of options to purchase shares of Stock under the Plan to Eligible Employees.

 

(k)     “Offering Date” means the first day of an Offering.

 

(l)     “Offering Period” means a period with respect to which the right to purchase Stock may be granted under the Plan, as determined pursuant to Section 4(a).

 

(m)     “Participant” means an Eligible Employee who elects to participate in the Plan, as provided in Section 4(b).

 

(n)     “Participating Company” means (i) the Company and (ii) each present or future Subsidiary designated by the Committee as a Participating Company.

 

(o)     “Plan” means this Inphi Corporation Employee Stock Purchase Plan, as it may be amended from time to time.

 

(p)     “Plan Account” means the account established for each Participant pursuant to Section 8(a).

 

 

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(q)     “Purchase Date” means one or more dates during an Offering on which shares of Stock may be purchased pursuant to the terms of the Offering. 

 

(r)     “Purchase Period” means one or more successive periods during an Offering, beginning on the Offering Date or on the day after a Purchase Date, and ending on the next succeeding Purchase Date.

 

(s)     “Purchase Price” means the price at which Participants may purchase shares of Stock under the Plan, as determined pursuant to Section 8(b).

 

(t)     “Stock” means the Common Stock of the Company.

 

(u)     “Subsidiary” means any corporation (other than the Company) in an unbroken chain of corporations beginning with the Company, if each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in such chain.

 

(r)     “Trading Day” means a day on which the national stock exchange on which the Stock is traded is open for trading.

 

SECTION 3     Administration Of The Plan.

 

(a)     Committee Composition. The Plan shall be administered by the Committee. The Committee shall consist exclusively of one or more directors of the Company, who shall be appointed by the Board. 

 

(b)     Committee Responsibilities. The Committee shall have full power and authority, subject to the provisions of the Plan, to promulgate such rules and regulations as it deems necessary for the proper administration of the Plan, to interpret the provisions and supervise the administration of the Plan, and to take all action in connection therewith or in relation thereto as it deems necessary or advisable. Any decision reduced to writing and signed by all of the members of the Committee shall be fully effective as if it had been made at a meeting duly held. The Committee’s determinations under the Plan, unless otherwise determined by the Board, shall be final and binding on all persons. The Company shall pay all expenses incurred in the administration of the Plan. No member of the Committee shall be personally liable for any action, determination, or interpretation made in good faith with respect to the Plan, and all members of the Committee shall be fully indemnified by the Company with respect to any such action, determination or interpretation. The Committee may adopt such rules, guidelines and forms as it deems appropriate to implement the Plan, including sub plans which the Committee may establish (which need not qualify under Section 423 of the Code) for the purpose of (i) facilitating participation in the Plan by non-U.S. employees in compliance with foreign laws and regulations without affecting the qualification of the remainder of the Plan under Section 423 of the Code, or (ii) qualifying the Plan for preferred tax treatment under foreign tax laws (which sub plans, at the Committee’s discretion, may provide for allocations of the authorized Shares reserved for issue under the Plan as set forth in Section 14(a)). The rules of such sub plans may take precedence over other provisions of the Plan, with the exception of Section 14(a), but unless otherwise superseded by the terms of such sub plan, the provisions of the Plan shall govern the operation of such sub plan. Alternatively and in order to comply with the laws of a foreign jurisdiction, the Committee shall have the power, in its discretion, to grant options in an Offering to citizens or residents of a non-U.S. jurisdiction (without regard to whether they are also citizens of the United States or resident aliens) that provide terms which are less favorable than the terms of options granted under the same Offering to employees resident in the United States, subject to compliance with Section 423 of the Code. Notwithstanding anything to the contrary in the Plan, the Board may, in its sole discretion, at any time and from time to time, resolve to administer the Plan. In such event, the Board shall have all of the authority and responsibility granted to the Committee herein.

 

 

Inphi Corporation Employee Stock Purchase Plan

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SECTION 4     Enrollment And Participation.

 

(a)     Offering Periods. While the Plan is in effect, the Committee may from time to time grant options to purchase shares of Stock pursuant to the Plan to Eligible Employees during a specified Offering Period. Each such Offering shall be in such form and shall contain such terms and conditions as the Committee shall determine, subject to compliance with the terms and conditions of the Plan (which may be incorporated by reference) and the requirements of Section 423 of the Code, including the requirement that all Eligible Employees have the same rights and privileges. The Committee shall specify prior to the commencement of each Offering (i) the period during which the Offering shall be effective, which may not exceed 27 months from the Offering Date and may include one or more successive Purchase Periods within the Offering, (ii) the Purchase Dates and Purchase Price for shares of Stock which may be purchased pursuant to the Offering, and (iii) if applicable, any limits on the number of shares purchasable by a Participant, or by all Participants in the aggregate, during any Offering Period or, if applicable, Purchase Period, in each case consistent with the limitations of the Plan. The Committee shall have the discretion to provide for the automatic termination of an Offering following any Purchase Date on which the Fair Market Value of a share of Stock is equal to or less than the Fair Market Value of a share of Stock on the Offering Date, and for the Participants in the terminated Offering to be automatically re-enrolled in a new Offering that commences immediately after such Purchase Date. The terms and conditions of each Offering need not be identical, and shall be deemed incorporated by reference and made a part of the Plan. 

 

(b)     Enrollment. Any individual who, on the day preceding the first day of an Offering Period, qualifies as an Eligible Employee may elect to become a Participant in the Plan for such Offering Period by executing the enrollment form prescribed for this purpose by the Company. The enrollment form shall be filed with the Company in accordance with such procedures as may be established by the Company. 

 

(c)     Duration of Participation. Once enrolled in the Plan, a Participant shall continue to participate in the Plan until he or she ceases to be an Eligible Employee or withdraws from the Plan under Section 6(a). A Participant who withdrew from the Plan under Section 6(a) may again become a Participant, if he or she then is an Eligible Employee, by following the procedure described in Subsection (b) above. A Participant whose employee contributions were discontinued automatically under Section 9(b) shall automatically resume participation at the beginning of the earliest Offering Period ending in the next calendar year, if he or she then is an Eligible Employee. When a Participant reaches the end of an Offering Period but his or her participation is to continue, then such Participant shall automatically be re-enrolled for the Offering Period that commences immediately after the end of the prior Offering Period.

 

 

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SECTION 5     Employee Contributions.

 

(a)     Frequency of Payroll Deductions. A Participant may purchase shares of Stock under the Plan solely by means of payroll deductions; provided, however, that to the extent provided in the terms and conditions of an Offering, a Participant may also make contributions through payment by cash or check prior to one or more Purchase Dates during the Offering. Payroll deductions, subject to the provisions of Subsection (b) below or as otherwise provided by the Committee, shall occur on each payday during participation in the Plan.

 

(b)     Amount of Payroll Deductions. An Eligible Employee shall designate on the enrollment form the portion of his or her Compensation that he or she elects to have withheld for the purchase of Stock. Such portion shall be a whole percentage of the Eligible Employee’s Compensation, but not less than 1% nor more than 15%, or such lesser percentage provided in the terms or conditions of an Offering. However, no payroll deduction will be made unless a Participant timely files the proper form with the Company after a registration statement covering the Stock is filed and effective under the Securities Act of 1933, as amended.

 

(c)     Changing Withholding Rate. A Participant may not increase the rate of payroll withholding during the Offering Period, but unless otherwise provided under the terms and conditions of an Offering, may decrease the rate of payroll withholding to a whole percentage of his or her Compensation that is not less than 1% in accordance with such procedures and subject to such limitations as the Company may establish for all Participants. A Participant may also increase or decrease the rate of payroll withholding effective for a new Offering Period by filing a new enrollment form with the Company at the prescribed location and time. The new withholding rate shall be a whole percentage of the Eligible Employee’s Compensation, but not less than 1% nor more than 15%, or such lesser percentage provided in the terms or conditions of an Offering.

 

(d)     Discontinuing Payroll Deductions. If a Participant wishes to discontinue employee contributions entirely, he or she may do so by withdrawing from the Plan pursuant to Section 6(a). In addition, employee contributions may be discontinued automatically pursuant to Section 9(b).

 

SECTION 6     Withdrawal From The Plan.

 

(a)     Withdrawal. A Participant may elect to withdraw from the Plan by filing the prescribed form with the Company at the prescribed location. Such withdrawal may be elected at any time before the last day of an Offering Period, except as otherwise provided in the Offering. In addition, if payment by cash or check is permitted under the terms and conditions of an Offering, Participants may be deemed to withdraw from the Plan by declining or failing to remit timely payment to the Company for the shares of Stock. As soon as reasonably practicable thereafter, payroll deductions shall cease and the entire amount credited to the Participant’s Plan Account shall be refunded to him or her in cash, without interest. No partial withdrawals shall be permitted. 

 

 

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(b)     Re-enrollment After Withdrawal. A former Participant who has withdrawn from the Plan shall not be a Participant until he or she re-enrolls in the Plan under Section 4(b). Re-enrollment may be effective only at the commencement of an Offering Period.

 

SECTION 7     Change In Employment Status.

 

(a)     Termination of Employment. Termination of employment as an Eligible Employee for any reason, including death, shall be treated as an automatic withdrawal from the Plan under Section 6(a). A transfer from one Participating Company to another shall not be treated as a termination of employment.

 

(b)     Leave of Absence. For purposes of the Plan, employment shall not be deemed to terminate when the Participant goes on a military leave, a sick leave or another bona fide leave of absence, if the leave was approved by the Company in writing. Employment, however, shall be deemed to terminate three months after the Participant goes on a leave, unless a contract or statute guarantees his or her right to return to work. Employment shall be deemed to terminate in any event when the approved leave ends, unless the Participant immediately returns to work. 

 

(c)     Death. In the event of the Participant’s death, the amount credited to his or her Plan Account shall be paid to the Participant’s estate. 

 

SECTION 8     Plan Accounts And Purchase Of Shares.

 

(a)     Plan Accounts. The Company shall maintain a Plan Account on its books in the name of each Participant. Whenever an amount is deducted from the Participant’s Compensation under the Plan, such amount shall be credited to the Participant’s Plan Account. Amounts credited to Plan Accounts shall not be trust funds and may be commingled with the Company’s general assets and applied to general corporate purposes. No interest shall be credited to Plan Accounts.

 

(b)     Purchase Price. The Purchase Price for each share of Stock purchased during an Offering Period shall not be less than the lesser of:

 

(i)     85% of the Fair Market Value of such share on the Purchase Date; or

 

(ii)     85% of the Fair Market Value of such share on the last Trading Day preceding the Offering Date.

 

(c)     Number of Shares Purchased. As of each Purchase Date, each Participant shall be deemed to have elected to purchase the number of shares of Stock calculated in accordance with this Subsection (c), unless the Participant has previously elected to withdraw from the Plan in accordance with Section 6(a). The amount then in the Participant’s Plan Account shall be divided by the Purchase Price, and the number of shares that results shall be purchased from the Company with the funds in the Participant’s Plan Account. The foregoing notwithstanding, no Participant shall purchase more than such number of shares of Stock as may be determined by the Committee with respect to the Offering Period, or Purchase Period, if applicable, nor more than the amounts of Stock set forth in Sections 9(b) and 14(a). For each Offering Period and, if applicable, Purchase Period, the Committee shall have the authority to establish additional limits on the number of shares purchasable by all Participants in the aggregate.

 

 

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(d)     Available Shares Insufficient. In the event that the aggregate number of shares that all Participants elect to purchase during an Offering Period exceeds the maximum number of shares remaining available for issuance under Section 14(a), or which may be purchased pursuant to any additional aggregate limits imposed by the Committee, then the number of shares to which each Participant is entitled shall be determined by multiplying the number of shares available for issuance by a fraction, the numerator of which is the number of shares that such Participant has elected to purchase and the denominator of which is the number of shares that all Participants have elected to purchase. 

 

(e)     Issuance of Stock. Certificates representing the shares of Stock purchased by a Participant under the Plan shall be issued to him or her as soon as reasonably practicable after the applicable Purchase Date, except that the Committee may determine that such shares shall be held for each Participant’s benefit by a broker designated by the Committee. Shares may be registered in the name of the Participant or jointly in the name of the Participant and his or her spouse as joint tenants with right of survivorship or as community property. 

 

(f)     Unused Cash Balances. An amount remaining in the Participant’s Plan Account that represents the Purchase Price for any fractional share shall be carried over in the Participant’s Plan Account to the next Offering Period or refunded to the Participant in cash, without interest, if his or her participation is not continued. Any amount remaining in the Participant’s Plan Account that represents the Purchase Price for whole shares that could not be purchased by reason of Subsection (c) or (d) above, Section 9(b) or Section 14(a) shall be refunded to the Participant in cash, without interest. 

 

(g)     Stockholder Approval. The Plan shall be submitted to the stockholders of the Company for their approval within twelve (12) months after the date the Plan is adopted by the Board. Any other provision of the Plan notwithstanding, no shares of Stock shall be purchased under the Plan unless and until the Company’s stockholders have approved the adoption of the Plan. 

 

SECTION 9     Limitations On Stock Ownership.

 

(a)     Five Percent Limit. Any other provision of the Plan notwithstanding, no Participant shall be granted a right to purchase Stock under the Plan if such Participant, immediately after his or her election to purchase such Stock, would own stock possessing 5% or more of the total combined voting power or value of all classes of stock of the Company or any parent or Subsidiary of the Company. For purposes of this Subsection (a), the following rules shall apply:

 

(i)     Ownership of stock shall be determined after applying the attribution rules of section 424(d) of the Code;

 

(ii)     Each Participant shall be deemed to own any stock that he or she has a right or option to purchase under this or any other plan; and

 

 

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(iii)     Each Participant shall be deemed to have the right to purchase up to the maximum number of shares of Stock that may be purchased by a Participant under this Plan under the individual limit specified pursuant to Section 8(c) with respect to each Offering Period.

 

(b)     Dollar Limit. Any other provision of the Plan notwithstanding, no Participant shall accrue the right to purchase Stock at a rate which exceeds $25,000 of Fair Market Value of such Stock per calendar year (under this Plan and all other employee stock purchase plans of the Company or any parent or Subsidiary of the Company), determined in accordance with the provisions of section 423(b)(8) of the Code and applicable Treasury Regulations promulgated thereunder.

 

For purposes of this Subsection (b), the Fair Market Value of Stock shall be determined as of the beginning of the Offering Period in which such Stock is purchased. Employee stock purchase plans not described in section 423 of the Code shall be disregarded. If a Participant is precluded by this Subsection (b) from purchasing additional Stock under the Plan, then his or her employee contributions shall automatically be discontinued and shall resume at the beginning of the earliest Offering Period ending in the next calendar year (if he or she then is an Eligible Employee).

 

SECTION 10     Rights Not Transferable.

 

The rights of any Participant under the Plan, or any Participant’s interest in any Stock or moneys to which he or she may be entitled under the Plan, shall not be transferable by voluntary or involuntary assignment or by operation of law, or in any other manner other than by the laws of descent and distribution. If a Participant in any manner attempts to transfer, assign or otherwise encumber his or her rights or interest under the Plan, other than by the laws of descent and distribution, then such act shall be treated as an election by the Participant to withdraw from the Plan under Section 6(a).

 

SECTION 11     No Rights As An Employee

 

Nothing in the Plan or in any right granted under the Plan shall confer upon the Participant any right to continue in the employ of a Participating Company for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Participating Companies or of the Participant, which rights are hereby expressly reserved by each, to terminate his or her employment at any time and for any reason, with or without cause.

 

SECTION 12     No Rights As A Stockholder.

 

A Participant shall have no rights as a stockholder with respect to any shares of Stock that he or she may have a right to purchase under the Plan until such shares have been purchased on the applicable Purchase Date.

 

SECTION 13     Securities Law Requirements.

 

Shares of Stock shall not be issued under the Plan unless the issuance and delivery of such shares comply with (or are exempt from) all applicable requirements of law, including (without limitation) the Securities Act of 1933, as amended, the rules and regulations promulgated thereunder, state securities laws and regulations, and the regulations of any stock exchange or other securities market on which the Company’s securities may then be traded.

 

 

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SECTION 14     Stock Offered Under The Plan.

 

(a)     Authorized Shares. The maximum aggregate number of shares of Stock available for purchase under the Plan is 1.75 million shares. The aggregate number of shares available for purchase under the Plan shall at all times be subject to adjustment pursuant to Section 14.

 

(b)     Antidilution Adjustments. The aggregate number of shares of Stock offered under the Plan, the individual and aggregate Participant share limitations described in Section 8(c) and the price of shares that any Participant has elected to purchase shall be adjusted proportionately by the Committee in the event of any change in the number of issued shares of Stock (or issuance of shares other than Common Stock) by reason of any forward or reverse share split, subdivision or consolidation, or share dividend or bonus issue, recapitalization, reclassification, merger, amalgamation, consolidation, split-up, spin-off, reorganization, combination, exchange of shares of Stock, the issuance of warrants or other rights to purchase shares of Stock or other securities, or any other change in corporate structure or in the event of any extraordinary distribution (whether in the form of cash, shares of Stock, other securities or other property). 

 

(c)     Reorganizations. Any other provision of the Plan notwithstanding, immediately prior to the effective time of a Corporate Reorganization, the Offering Period then in progress shall terminate and shares shall be purchased pursuant to Section 8, unless the Plan is assumed by the surviving corporation or its parent corporation pursuant to the plan of merger or consolidation. The Plan shall in no event be construed to restrict in any way the Company’s right to undertake a dissolution, liquidation, merger, consolidation or other reorganization.

 

SECTION 15     Amendment Or Discontinuance.

 

The Board (or any committee thereof to which it delegates such authority) shall have the right to amend, suspend or terminate the Plan at any time and without notice. Upon any such amendment, suspension or termination of the Plan during an Offering Period, the Board (or any committee thereof to which it delegates such authority) may in its discretion determine that the applicable Offering shall immediately terminate and that all amounts in the Participant Accounts shall be carried forward into a payroll deduction account for each Participant under a successor plan, if any, or promptly refunded to each Participant. Except as provided in Section 14, any increase in the aggregate number of shares of Stock to be issued under the Plan shall be subject to approval by a vote of the stockholders of the Company. In addition, any other amendment of the Plan shall be subject to approval by a vote of the stockholders of the Company to the extent required by an applicable law or regulation. This Plan shall continue until the earlier to occur of (a) termination of this Plan pursuant to this Section 15 or (b) issuance of all of the shares of Stock reserved for issuance under this Plan.

 

 

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SECTION 16     Execution.

 

To record the adoption of the Plan by the Board, the Company has caused its authorized officer to execute the same.

 

	
INPHI CORPORATION  

	
 
	
 

	
By:
	
/s/ Ford Tamer

	
 
	
 

	
 
	
 

	
 
	
 

	
Title:
	
Chief Executive Officer

	
 
	
 

	
Date:
	
April 3, 2015

 

 

 

Inphi Corporation Employee Stock Purchase Plan

10EX-10.1

 EXHIBIT 10.1 

TAYLOR MORRISON HOME CORPORATION 

2013 OMNIBUS EQUITY AWARD PLAN 

FORM OF EMPLOYEE NONQUALIFIED 

OPTION AWARD AGREEMENT 

THIS NONQUALIFIED OPTION AWARD AGREEMENT (the “Agreement”), dated as of [Grant Date] (the “Date of Grant”),
is made by and between Taylor Morrison Home Corporation, a Delaware corporation (the “Company”), and [Participant Name] (“Participant”). Any capitalized terms not otherwise defined in this Agreement shall have the
definitions set forth in the Plan. 
 WHEREAS, the Company has adopted the Taylor Morrison Home Corporation 2013 Omnibus Equity Award Plan
(as amended from time to time, the “Plan”), pursuant to which Options may be granted; and 
 WHEREAS, the Committee has
determined that it is in the best interests of the Company and its shareholders to grant the Option provided for herein to Participant subject to the terms set forth herein. 

NOW, THEREFORE, for and in consideration of the premises and the covenants of the parties contained in this Agreement, and for other good and
valuable consideration, the receipt of which is hereby acknowledged, the parties hereto, for themselves, their successors and assigns, hereby agree as follows: 

1. Grant of Option. 
 (a) Grant.
The Company hereby grants to Participant an Option (the “Option”) to purchase [Number of Awards Granted] shares of Class A common stock, par value $0.00001 per share, of the Company (“Shares”) (such Shares, the
“Option Shares”), on the terms and conditions set forth in this Agreement and as otherwise provided in the Plan. The Option is not intended to qualify as an Incentive Stock Option under Section 422 of the Code. The Exercise
Price, being the price at which Participant shall be entitled to purchase the Option Shares upon the exercise of all or any portion of the Option, shall be $[Grant Price] per Option Share. 

(b) Incorporation by Reference, Etc. The provisions of the Plan are hereby incorporated herein by reference. Except as otherwise
expressly set forth herein, this Agreement shall be construed in accordance with the provisions of the Plan and any interpretations, amendments, rules and regulations promulgated by the Committee from time to time pursuant to the Plan. The Committee
shall have final authority to interpret and construe the Plan and this Agreement and to make any and all determinations under them, and its decision shall be binding and conclusive upon Participant and his or her legal representative in respect of
any questions arising under the Plan or this Agreement. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and prevail. 

2. Vesting. Except as may otherwise be provided herein, subject to Participant’s continued Employment with the Company or an Affiliate through the
applicable vesting date, the Option shall become vested and exercisable with respect to twenty-five percent [Insert]% of the Option Shares on each of the [Insert] of the Date of Grant (each such date, a “Vesting Date”). Any
fractional Option Shares resulting from the application of the vesting schedule shall be aggregated and the Option Shares resulting from such aggregation shall vest on the final Vesting Date.  

3. Termination of Employment. Except as otherwise provided in Section 13 of the Plan, if Participant’s Employment with the Company or any
Affiliate, as applicable, terminates for any reason, then the unvested portion of the Option shall be cancelled immediately and Participant shall immediately forfeit any rights to the Option Shares subject to such unvested portion.  

 4. Expiration. 

(a) In no event shall all or any portion of the Option be exercisable after the tenth anniversary of the Date of Grant (the “Option
Period”). 
 (b) If, prior to the end of the Option Period, Participant’s Employment with the Company and all of its
Affiliates is terminated by the Company or its Affiliates without Cause or by Participant for any reason other than at a time when grounds to terminate Participant’s Employment for Cause exist, the Option shall expire on the earlier of the last
day of the Option Period or the date that is 90 days after the date of such termination. In the event of a termination described in this subsection (b), the Option shall remain exercisable by Participant until its expiration only to the extent the
Option was exercisable at the time of such termination. 
 (c) If Participant dies or is terminated on account of Disability prior to the
end of the Option Period and while still in the employ or service of the Company or an Affiliate, the Option shall remain exercisable by Participant or his or her beneficiary, as applicable, until the earlier of the last day of the Option Period or
the date that is one year after the date of death or termination on account of Disability of Participant, as applicable. 
 (d) If
Participant ceases Employment with the Company or any of its Affiliates due to a termination for Cause or a termination by Participant for any reason at a time when grounds to terminate Participant’s Employment for Cause exist, the Option
(including any vested portion of the Option) shall expire immediately upon such cessation of Employment. 
 5. Method of Exercise. 

(a) Options which have become exercisable may be exercised by delivery of a duly executed written notice of exercise to the Company at its
principal business office using such form as attached hereto as Annex A or such other form, as may be required from time to time by the Company. Participant may obtain such form(s) by contacting the General Counsel at Taylor Morrison Home
Corporation, 4900 N. Scottsdale Road, Suite 2000, Scottsdale, Arizona 85251. 
 (b) No Option Shares shall be delivered pursuant to any
exercise of the Option until payment in full of the Exercise Price therefor is received by the Company in accordance with Section 5(c) of this Agreement and Participant has paid to the Company an amount equal to any federal, state, local and
non-U.S. income and employment taxes required to be withheld. 
 (c) Subject to applicable law, the Exercise Price and applicable tax
withholding shall be payable (i) in cash, check, cash equivalent and/or shares of Common Stock valued at the Fair Market Value at the time the Option is exercised (including, pursuant to procedures approved by the Committee, by means of
attestation of ownership of a sufficient number of Shares in lieu of actual delivery of such shares to the Company); provided, that such Shares are not subject to any pledge or other security interest; (ii) in other property having a
fair market value on the date of exercise equal to the Exercise Price and the applicable minimum required statutory withholding liability; (iii) if there is a public market for the Shares at such time, by means of a broker-assisted
“cashless exercise” pursuant to which the Company is delivered (including telephonically to the extent permitted by the Committee) a copy of irrevocable instructions to a stockbroker to sell the Shares otherwise deliverable upon the
exercise of the Option and to deliver promptly to the Company an amount equal to the Exercise Price and the applicable minimum required statutory withholding liability; (iv) by means of a “net exercise” procedure effected by
withholding the minimum number of Shares otherwise deliverable in respect of an Option that are needed 

  
 2 

 
to pay for the Exercise Price and the applicable minimum statutory withholding liability or (iv) by such other method as the Committee may permit in its sole discretion. Notwithstanding the
foregoing, if, on the last day of the Option Period, the Fair Market Value exceeds the Exercise Price, Participant has not exercised the Option, and the Option has not expired, such Option shall be deemed to have been exercised by Participant on
such last day by means of a net exercise and the Company shall deliver to Participant the number of Shares for which the Option was deemed exercised less such number of Shares required to be withheld to cover the payment of the Exercise Price and
all applicable required withholding taxes. Any fractional Share shall be settled in cash. 
 6. Rights as a Shareholder. Participant shall not be
deemed for any purpose to be the owner of any Shares subject to this Option unless, until and to the extent that (i) this Option shall have been exercised pursuant to its terms, (ii) the Company shall have issued and delivered to
Participant the Option Shares, and (iii) Participant’s name shall have been entered as a shareholder of record with respect to such Option Shares on the books of the Company. 

7. Restrictive Covenants. In consideration of the grant of the Option, Participant agrees that Participant will comply with noncompetition,
nonsolicitation and confidentiality restrictions set forth in any restrictive covenant agreement, employment agreement or similar agreement between Participant and the Company or any of its Affiliates as in effect on the Date of Grant, or any such
agreement that the Company or any of its Affiliates requires Participant to enter into as a condition to receipt of this Option. In the event that Participant violates any of the restrictive covenants set forth in any such agreement, the Option
shall be automatically forfeited effective as of the date on which such violation first occurs, and, in the event that Participant has previously exercised all or any portion of the Option during the one year period immediately preceding the date on
which such restrictive covenant violation first occurs, Participant shall forfeit any compensation, gain or other value realized on the exercise of such Option, or the subsequent sale of Shares acquired in respect of such Option (if any), and must
promptly repay such amounts to the Company. The foregoing rights and remedies are in addition to any other rights and remedies that may be available to the Company and shall not prevent (and Participant shall not assert that they shall prevent) the
Company from bringing one or more actions in any applicable jurisdiction to recover damages as a result of Participant’s breach of such restrictive covenants. 

8. Compliance with Legal Requirements. 

(a) Generally. The granting and exercising of the Option, and any other obligations of the Company under this Agreement, shall be
subject to all applicable federal, provincial, state, local and foreign laws, rules and regulations and to such approvals by any regulatory or governmental agency as may be required. The Committee shall have the right to impose such restrictions on
the Option as it deems necessary or advisable under applicable federal securities laws, the rules and regulations of any stock exchange or market upon which Shares are then listed or traded, and/or any blue sky or state securities laws applicable to
such Shares. Participant agrees to take all steps the Committee or the Company determines are necessary to comply with all applicable provisions of federal and state securities law in exercising his or her rights under this Agreement. 

(b) Tax Withholding. The exercise of the Option (or any portion thereof) shall be subject to Participant satisfying any applicable
federal, state, local and foreign tax withholding obligations. The Company shall have the power and the right to deduct or withhold from all amounts payable to Participant in connection with the Option or otherwise, or require Participant to remit
to the Company, an amount sufficient to satisfy the minimum statutory withholding liability required by law. Further, the 

  
 3 

 
Company may permit or require Participant to satisfy, in whole or in part, such tax obligations by withholding Shares that would otherwise be received upon exercise of the Option. 

9. Clawback. In the event of an accounting restatement due to material noncompliance by the Company with any financial reporting requirement under the
securities laws or as a result of any mistake in calculations or other administrative error, in each case, which reduces the amount payable in respect of the Option that would have been earned had the financial results been properly reported (as
determined by the Committee) (i) the Option will be cancelled and (ii) Participant will forfeit (A) the Shares (or cash) received or payable on the vesting or exercise of the Option and (B) the amount of the proceeds of the sale,
gain or other value realized on the vesting or exercise of the Option or the Shares acquired in respect of such Option (and Participant may be required to return or pay such Shares or amount to the Company). Notwithstanding anything to the contrary
contained herein, if Participant, without the consent of the Company, while employed by or providing services to the Company or any Affiliate or after termination of such Employment, violates a non-competition, non-solicitation, non-disparagement or
non-disclosure covenant or agreement, including but not limited to the covenants described in Section 7 above, or otherwise has engaged in or engages in activity that constitutes Cause under the Plan or is in conflict with or adverse to the
interest of the Company or any Affiliate as determined by the Committee in its sole discretion, then (i) any outstanding, vested or unvested, earned or unearned portion of the Option may, at the Committee’s discretion, be canceled without
any payment therefor and (ii) the Committee, in its discretion, may require Participant or other person to whom any payment has been made or Shares or other property have been transferred in connection with the exercise of the Option to forfeit
and pay over to the Company, on demand, all or any portion of the compensation, gain or other value (whether or not taxable) realized upon the exercise of such Option, or the subsequent sale of the Shares acquired upon exercise of such Option. To
the extent required by applicable law (including without limitation Section 304 of the Sarbanes-Oxley Act and Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act) and/or the rules and regulations of New York Stock
Exchange or other securities exchange or inter-dealer quotation system on which the Shares are listed or quoted, or if so required pursuant to a written policy adopted by the Company, which may be amended from time to time, the Option (or the Shares
acquired upon exercise of such Option) shall be subject (including on a retroactive basis) to clawback, forfeiture or similar requirements (and such requirements shall be deemed incorporated by reference into this Agreement). 

10. Miscellaneous. 
 (a)
Transferability. The Option may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by a Participant other than by will or by the laws of descent and distribution, pursuant to a qualified domestic
relations order or as otherwise permitted under Section 15(b) of the Plan. In the event of Participant’s death, the Option shall thereafter be exercisable (to the extent otherwise exercisable hereunder) only by Participant’s executors
or administrators. 
 (b) Waiver. Any right of the Company contained in this Agreement may be waived in writing by the Committee. No
waiver of any right hereunder by any party shall operate as a waiver of any other right, or as a waiver of the same right with respect to any subsequent occasion for its exercise, or as a waiver of any right to damages. No waiver by any party of any
breach of this Agreement shall be held to constitute a waiver of any other breach or a waiver of the continuation of the same breach. 
 (c)
Section 409A. The Option is not intended to be subject to Section 409A of the Code. Notwithstanding the foregoing or any provision of the Plan or this Agreement, if any provision of the Plan or this Agreement contravenes
Section 409A of the Code or could cause Participant to incur any tax, interest or penalties under Section 409A of the Code, the Committee may, in its sole discretion and without Participant’s consent, modify such provision to
(i) comply with, or avoid being subject to, 

  
 4 

 
Section 409A of the Code, or to avoid the incurrence of taxes, interest and penalties under Section 409A of the Code, and/or (ii) maintain, to the maximum extent practicable, the
original intent and economic benefit to Participant of the applicable provision without materially increasing the cost to the Company or contravening the provisions of Section 409A of the Code. This Section 10(c) does not create an
obligation on the part of the Company to modify the Plan or this Agreement and does not guarantee that the Option or the Option Shares will not be subject to interest and penalties under Section 409A. 

(d) Notices. Any written notices provided for in this Agreement or the Plan shall be in writing and shall be deemed sufficiently given
if either hand delivered or if sent by fax, pdf/email or overnight courier, or by postage paid first class mail. Notices sent by mail shall be deemed received three business days after mailing but in no event later than the date of actual receipt.
Notices shall be directed, if to Participant, at Participant’s address indicated by the Company’s records, or if to the Company, to the attention of the General Counsel at the Company’s principal business office. 

(e) Severability The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability
of any other provision of this Agreement, and each other provision of this Agreement shall be severable and enforceable to the extent permitted by law. 

(f) No Rights to Employment. Nothing contained in this Agreement shall be construed as giving Participant any right to be retained, in
any position with the Company or its Affiliates or shall interfere with or restrict in any way the right of the Company or its Affiliates, which are hereby expressly reserved, to remove, terminate or discharge Participant at any time for any reason
whatsoever. 
 (g) Fractional Shares. In lieu of issuing a fraction of a Share resulting from any exercise of the Option, resulting
from an adjustment of the Option pursuant to Section 12 of the Plan or otherwise, the Company shall be entitled to pay to Participant an amount equal to the Fair Market Value of such fractional Share. 

(h) Beneficiary. Participant may file with the Committee a written designation of a beneficiary on such form as may be prescribed by
the Committee and may, from time to time, amend or revoke such designation. Any notice should be made to the attention of the General Counsel of the Company at the Company’s principal business office. If no designated beneficiary survives
Participant, Participant’s estate shall be deemed to be Participant’s beneficiary. 
 (i) Bound by Plan and Acceptance of
Agreement. By signing this Agreement, Participant acknowledges that Participant has received a copy of the Plan and has had an opportunity to review the Plan and agrees to be bound by all the terms and provisions of the Plan. By accepting this
Agreement, Participant consents to the electronic delivery of prospectuses, annual reports and other information required to be delivered by Securities and Exchange Commission rules (which consent may be revoked in writing by Participant at any time
upon three business days’ notice to the Company, in which case subsequent prospectuses, annual reports and other information will be delivered in hard copy to Participant). 

(j) Successors. The terms of this Agreement shall be binding upon and inure to the benefit of the Company and its successors and
assigns, and of Participant and the beneficiaries, executors, administrators, heirs and successors of Participant. 
 (k) Entire
Agreement. This Agreement and the Plan contain the entire agreement and understanding of the parties hereto with respect to the subject matter contained herein and supersede all prior communications, representations and negotiations in respect
thereto. No change, modification or 

  
 5 

 
waiver of any provision of this Agreement shall be valid unless the same be in writing and signed by the parties hereto, except for any changes permitted without consent under Section 12 of
the Plan. 
 (l) Governing Law; JURY TRIAL WAIVER. To the extent not otherwise governed by the Code or the laws of the United States,
this Agreement shall be governed, construed and interpreted in accordance with the laws of the state of Delaware without regard to principles of conflicts of law thereof, or principles of conflicts of laws of any other jurisdiction which could cause
the application of the laws of any jurisdiction other than the laws of the United States, as applicable. THE PARTIES EXPRESSLY AND KNOWINGLY WAIVE ANY RIGHT TO A JURY TRIAL IN THE EVENT ANY ACTION ARISING UNDER OR IN CONNECTION WITH THIS AGREEMENT
IS LITIGATED OR HEARD IN ANY COURT. 
 (m) Headings. The headings of the Sections hereof are provided for convenience only and are
not to serve as a basis for interpretation or construction, and shall not constitute a part, of this Agreement. 
 [REMAINDER OF PAGE
INTENTIONALLY LEFT BLANK] 

  
 6 

 IN WITNESS WHEREOF, the Company and Participant have executed this Agreement as set forth below.

  

			
	TAYLOR MORRISON HOME CORPORATION
		
	By:	 	  

	Name:	 	Sheryl D. Palmer
	Title:	 	Chief Executive Officer
		
	Date:	 	[Grant Date]

  

	
	Agreed to and Accepted by:
	
	  
 [Participant
Name]

  

			
	Date:	 	 Acceptance Date

 [Signature Page to Nonqualified Stock Option Agreement] 

 Annex A 

NOTICE OF OPTION EXERCISE 

PURSUANT TO THE TAYLOR MORRISON HOME CORPORATION 

2013 OMNIBUS EQUITY AWARD PLAN 
 To
exercise your option to purchase shares of Taylor Morrison Home Corporation, a Delaware corporation (the “Company”) Common Stock (“Shares”), please fill out this form and return it to the Secretary of the
Company, together with a check in the amount of the exercise price due, which is the product of the number of Shares with respect to which you are exercising the option and the per share exercise price. You are not required to exercise your
option with respect to all Shares thereunder. You also must include, as applicable, a check in the amount of any required payroll tax withholding and income tax withholding due in connection with your exercise unless the Board administering the
Taylor Morrison Home Corporation 2013 Omnibus Equity Award Plan specifically provides for such obligation to be satisfied in a different manner. 
 I hereby
exercise my right to purchase                  Shares under the option granted to me pursuant to the Nonqualified Stock Option Agreement between myself and the Company,
dated as of             , 20    . I am vested in my option as to the Shares being purchased hereunder. I have enclosed one or more checks covering both the exercise
price of $         and the required payroll tax withholding and income tax withholding of $            . (Please contact the office of the Secretary
of the Company to determine the amount of any required payroll tax withholding and income tax withholding.) I hereby represent that, to the best of my knowledge and belief, I am legally entitled to exercise this option. 

Signature:
                                         
                        

Printed Name:
                                         
                        

Social Security Number:
                                         
                        
 Date:

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