Document:

Form of Retention Agreement

 Exhibit 10.14 
 ALPHA AND OMEGA SEMICONDUCTOR LIMITED LETTERHEAD 
  

			
	  
	 	
	  
	 	
	  
	 	

 Dear
[                    ]: 
 We
are pleased to inform you that the Company’s Board of Directors has approved a new severance benefit program for you. The purpose of this letter agreement is to set forth the terms and conditions of your severance benefits and to explain
certain limitations that may govern their overall value or payment. 
 Your severance package will become payable should your
employment terminate under certain circumstances prior to or following certain changes in ownership or control of the Company. To understand the full scope of your benefits, you should familiarize yourself with the definitional provisions of Part
One of this letter agreement. The benefits comprising your severance package are detailed in Parts Two and Three, and the dollar limitations on the overall value of your benefit package and other applicable restrictions are specified in Parts Four
and Five. 
 PART ONE – DEFINITIONS 
 For purposes of this Agreement, the following definitions shall be in effect: 
 Board means the Company’s Board of Directors. 
 Change in Control means a change in control of the
Company effected through any of the following transactions: 
 (i) a merger, consolidation or other
reorganization approved by the Company’s shareholders, 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 and in substantially the same proportion, by the persons who beneficially owned the Company’s outstanding voting securities immediately prior to such transaction, or 
 (ii) a shareholder-approved sale, transfer or other disposition of all or substantially all of the Company’s assets in
liquidation or dissolution of the Company, or 
 (iii) the acquisition, directly or indirectly by any person or
related group of persons (other than the Company or a person that directly or indirectly controls, is controlled by, or is under common control with, the Company), of beneficial ownership (within the meaning of Rule 13d-3 of the 1934 Act) of
securities possessing more than fifty percent (50%) of the total combined voting power of the Company’s outstanding securities pursuant to a tender or exchange offer made directly to the Company’s shareholders. 
 Change in Control Severance Period means the period commencing with the Company’s execution of the definitive agreement for a
Change in Control transaction and continuing until the end of the twelve (12)-month period measured from the closing date of that Change in Control. 
 Code means the Internal Revenue Code of 1986, as amended. 
 Common
Share means the Company’s common share. 
 Company means Alpha and Omega Semiconductor Limited, a company
incorporated and existing under the laws of the Islands of Bermuda. 

 Executive means the undersigned executive. 
 Good Reason means the Executive’s voluntary resignation within ninety (90) days following one or more of the following
events that occur without the Executive’s written consent: (A) a material diminution in the Executive’s authority, duties or responsibilities, (B) a material reduction in his base compensation, with a reduction of fifteen percent
(15%) or more to be deemed material for such purpose, (C) a material relocation of his principal place of employment, with a relocation that is more than fifty (50) miles from the location of his principal office in Sunnyvale,
California to be deemed material for such purpose, or (D) a material breach by the Company of any of its obligations under this Agreement; provided, however, that none of the events specified above shall constitute Good Reason unless the
Executive first provides written notice to the Company describing the applicable event within thirty (30) days following the occurrence of that event and the Company fails to cure such event within thirty (30) days after receipt of such
written notice. 
 Involuntary Termination means (i) the Company’s termination of the Executive’s
employment for any reason other than a Termination for Cause or (ii) the Executive’s voluntary resignation for Good Reason. 
 1934 Act shall mean the U.S. Securities Exchange Act of 1934, as amended. 
 Plan means (i) the
Company’s 2000 Share Plan, (ii) the Company’s 2009 Share Option/Share Issuance Plan, as amended or restated from time to time, and (iii) any successor stock incentive plan subsequently implemented by the Company. 
 Separation from Service means the Executive’s cessation of Employee status and shall be deemed to occur at such time as the
level of the bona fide services the Executive is to perform in Employee status (or as a consultant or other independent contractor) permanently decreases to a level that is not more than twenty percent (20%) of the average level of services the
Executive rendered in Employee status during the immediately preceding thirty-six (36) months (or such shorter period for which the Executive may have rendered such service). Any such determination as to Separation from Service, however, shall
be made in accordance with the applicable standards of the Treasury Regulations issued under Code Section 409A. For purposes of determining whether the Executive has incurred a Separation from Service, the Executive will be deemed to continue
in “Employee” status for so long as he remains in the employ of one or more members of the Employer Group, subject to the control and direction of the employer entity as to both the work to be performed and the manner and method of
performance. “Employer Group” means the Company and any other corporation or business controlled by, controlling or under common control with, the Company as determined in accordance with Sections 414(b) and (c) of the Code and
the Treasury Regulations thereunder, except that in applying Sections 1563(a)(1), (2) and (3) for purposes of determining the controlled group of corporations under Section 414(b), the phrase “at least 50 percent” shall be
used instead of “at least 80 percent” each place the latter phrase appears in such sections and in applying Section 1.414(c)-2 of the Treasury Regulations for purposes of determining trades or businesses that are under common control
for purposes of Section 414(c), the phrase “at least 50 percent” shall be used instead of “at least 80 percent” each place the latter phrase appears in Section 1.414(c)-2 of the Treasury Regulations. In addition to the
foregoing, a Separation from Service will not be deemed to have occurred while the Executive is on a sick leave or other bona fide leave of absence if the period of such leave does not exceed six (6) months or any longer period for which the
Executive is provided with a right to reemployment with the Company by either statute or contract; provided, however, that in the event of a leave of absence due to any medically determinable physical or mental impairment that can be
expected to result in death or to last for a continuous period of not less than six (6) months and that causes the Executive to be unable to perform his duties as an Employee, no Separation from Service shall be deemed to occur during the first
twenty-nine (29) months of such leave. If the period of leave exceeds six (6) months (or twenty-nine (29) months in the event of disability as indicated above) and the Executive is not provided with a right to reemployment by either
statute or contract, then the Executive will be deemed to have Separated from Service on the first day immediately following the expiration of the applicable six (6)-month or twenty-nine (29)-month period. 
  

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 Termination for Cause means the termination of the Executive’s employment due to
(i) the commission of any act of fraud, embezzlement or dishonesty by the Executive or his conviction of a felony, (ii) any unauthorized use or disclosure by the Executive of confidential information or trade secrets of the Company (or any
parent or subsidiary), (iii) any other misconduct by the Executive adversely affecting the business or affairs of the Company in a material manner, (iv) the Executive’s failure to cure any breach of his obligations under this
Agreement or his Proprietary Information and Inventions Agreement with the Company after written notice of such breach from the Company and a reasonable cure period of at least thirty (30) days or (v) the Executive’s breach of any of
his fiduciary duties as an officer or director of the Company. The foregoing definition shall not be deemed to be inclusive of all the acts or omissions which the Company (or any parent or subsidiary) may consider as grounds for the dismissal or
discharge of the Executive or any other individual in the service of the Company (or any parent or subsidiary), but a dismissal for such other acts or omissions shall not constitute a Termination for Cause for purposes of this Agreement unless
otherwise described above. 
 PART TWO – NORMAL SEVERANCE BENEFITS 
 1. Entitlement. Should the Company terminate the Executive’s employment (other than a Termination for Cause) at
any time other than during the Change in Control Severance Period, then the Executive shall become entitled to receive the payments and benefits set forth in Paragraph 2, subject to the Executive’s compliance with the following requirement:

  

	 	•	 	 The Executive shall, within twenty-one (21) days (or such longer period as required by law) following the date of such Involuntary Termination
execute and deliver to the Company a general release (“Release”) in the form attached hereto as Exhibit A which becomes effective in accordance with applicable law following the expiration of the applicable revocation period. This
requirement shall hereinafter be referred to as the “Release Condition”. 

 The payments and
benefits provided under this Part Two shall be in lieu of any other severance benefits to which the Executive might otherwise, by reason of the termination of the Executive’s employment, be entitled under any other severance plan, program or
arrangement of the Company. 
 2. Severance Payments. The severance payments and benefits which the
Executive shall receive under this Part Two shall consist of the following: 
 A. Salary Continuation
Payments. The Executive shall be eligible to receive continued payment of the Executive’s then-current base salary for a period of six (6)- month. The first such payment shall be made on the sixtieth (60th) day following the date
of the Executive’s Separation from Service provided the Release is effective, and subsequent payments will be made in accordance with the Company’s normal payroll schedule for salaried employees. Such cash payments shall be treated as a
right to a series of separate payments for purposes of Section 409A of the Code. 
 B. Health Care
Coverage. Provided the Executive and his or her spouse and eligible dependents elect to continue medical care coverage under the Company’s group health care plans pursuant to the applicable COBRA provisions, the Company shall provide
continued medical care coverage for the Executive, his or her spouse and eligible dependents until the earlier of (i) the expiration of the six (6)-month period measured from the first day of the calendar month following the calendar month in
which the Executive’s Involuntary Termination occurs or (ii) the first date on which the Executive and the Executive’s eligible dependents are covered under another employer’s health benefit program without exclusion for any
pre-existing medical condition. Any additional medical care coverage to which the Executive and the Executive’s spouse and dependents may be entitled under COBRA following the period of such Company-paid coverage shall be at the
Executive’s sole cost and expense. During the period the Company-provided medical care coverage remains in effect hereunder, the following provisions shall govern the arrangement: (a) the amount of such benefits in any one calendar year of
such coverage shall not affect the amount of benefits in any other calendar year for which such benefits are to be provided hereunder and (b) the Executive’s right to the benefits cannot be liquidated or exchanged for any other benefit.

  

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 C. No Vesting Acceleration. All vesting of the
Executive’s outstanding options and other equity awards granted under the Plan shall cease at the time of the Executive’s termination, and the Executive shall not have more than the period of time specified in the applicable option
agreement in which to exercise those outstanding options following such termination for any Common Shares which are vested and exercisable at the time of such termination. 
 PART THREE – CHANGE IN CONTROL SEVERANCE BENEFITS 
 3.
Entitlement. Should the Executive’s employment terminate by reason of an Involuntary Termination within the Change in Control Severance Period, then the Executive shall become entitled to receive the payments and benefits set
forth in Paragraph 4, subject to the Executive’s compliance with the Release Condition. 
 The payments and benefits
provided under this Part Three shall be in lieu of any other severance benefits to which the Executive might otherwise, by reason of the termination of the Executive’s employment during the Change in Control Severance Period, be entitled under
any other severance plan, program or arrangement of the Company. 
 4. Severance Payments. The severance
payments and benefits which the Executive shall receive under this Part Three shall consist of the following: 
 A. Salary Continuation Payments. The Executive shall be eligible to receive continued payment of the Executive’s then-current base salary for a period of six (6) months. The first such payment shall be made on the
sixtieth (60th) day following the date of the Executive’s Separation from Service provided the Release is effective, and subsequent payments will be made in accordance with the Company’s normal payroll schedule for salaried employees.
Such cash payments shall be treated as a right to a series of separate payments for purposes of Section 409A of the Code. 
 B. Health Care Coverage. Provided the Executive and his or her spouse and eligible dependents elect to continue medical care coverage under the Company’s group health care plans
pursuant to the applicable COBRA provisions, the Company shall provide continued medical care coverage for the Executive, his or her spouse and eligible dependents until the earlier of (i) the expiration of the six (6)-month period measured
from the first day of the calendar month following the calendar month in which the Executive’s Involuntary Termination occurs or (ii) the first date on which the Executive and the Executive’s eligible dependents are covered under
another employer’s health benefit program without exclusion for any pre-existing medical condition. Any additional medical care coverage to which the Executive and the Executive’s spouse and dependents may be entitled under COBRA following
the period of such Company-paid coverage shall be at the Executive’s sole cost and expense. During the period the Company-provided medical care coverage remains in effect hereunder, the following provisions shall govern the arrangement:
(a) the amount of such benefits in any one calendar year of such coverage shall not affect the amount of benefits in any other calendar year for which such benefits are to be provided hereunder and (b) the Executive’s right to the
benefits cannot be liquidated or exchanged for any other benefit. 
 C. Accelerated Vesting. Each
outstanding option and other equity award granted under the Plan held by the Executive at the time of the Executive’s Involuntary Termination shall immediately vest with respect to the number of additional Common Shares that would have vested
had the Executive continued in employment with the Company for an additional period of one (1) year following the Involuntary Termination. The Executive shall not have more than the period of time specified in the applicable option agreement in
which to exercise those outstanding options following such Involuntary Termination for any Common Shares which are vested and exercisable at the time of such termination, including any shares which become vested as a result of this Paragraph 4C.

  

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 PART FOUR – LIMITATION ON BENEFITS 
 5. No Duplication of Benefits. In no event shall the Executive be entitled to severance benefits under both Parts Two
and Three of this Agreement. 
 6. Benefit Limit. The benefit limitations of this Part Four shall be
applicable in the event the Executive receives any benefits under this Agreement which are deemed to constitute parachute payments under Code Section 280G. 
 In the event that any payments to which the Executive becomes entitled in accordance with the provisions of this Agreement would otherwise constitute a parachute payment under Code Section 280G, then
such payments will be subject to reduction to the extent necessary to assure that the Executive receives only the greater of (i) the amount of those payments which would not constitute such a parachute payment or (ii) the amount which
yields the Executive the greatest after-tax amount of benefits after taking into account any excise tax imposed on the payments provided to the Executive under this Agreement (or on any other benefits to which the Executive may be entitled in
connection with any change in control or ownership of the Company or the subsequent termination of the Executive’s employment with the Company) under Code Section 4999. 
 Should a reduction in benefits be required to satisfy the benefit limit of this Section 6, then the salary continuation payments shall
accordingly be reduced to the extent necessary to comply with such benefit limit. Should such benefit limit still be exceeded following such reduction, then the number of shares which would otherwise vest under the vesting-accelerated portion (if
any) of each equity award (based on the amount of the parachute payment attributable to such equity award under Code Section 280G) shall be reduced to the extent necessary to eliminate such excess. 
 7. Restrictive Covenants. For the entire period during which the Executive is entitled to severance payments under Part
Two or Part Three of this Agreement, the Executive shall not: 
 (i) anywhere in the United States render any
services or provide any advice, assistance or support to any Competing Business, whether as an employee, agent, representative, consultant, partner, officer, director or stockholder or in any other capacity; provided, however, that such restriction
shall not apply to any passive investment representing an interest of less than five percent (5%) of an outstanding class of publicly-traded securities of any corporation or other enterprise which may constitute a Competing Business hereunder;

 (ii) contact, solicit or call upon any customer or supplier of the Company on behalf of any person or entity
other than the Company for the purpose of selling any products or providing or performing any services of the type normally sold, provided or performed by the Company; 
 (iii) induce or attempt to induce any person or entity to curtail or cancel any business or contracts which such person or
entity has with the Company; or 
 (iv) encourage or solicit any of the Company’s employees to leave the
Company’s employ for any reason or interfere in any other manner with employment relationships at the time existing between the Company and its employees. 
 For purposes of this Agreement, a Competing Business means any business which is or, to the best of the Executive’s knowledge, is expected to become, competitive with the business or any contemplated
business of the Company, or any direct or indirect subsidiaries of the Company or any of their affiliates. 
 8.
Cessation of Benefits. In the event of a material breach by the Executive of any of the Executive’s obligations under Paragraph 7 of this Agreement or any of the Executive’s obligations under the Executive’s Proprietary
Information and Inventions Agreement with the Company, the Executive shall cease to be entitled to any further payments or benefits under Part Two or Part Three of this Agreement. 
  

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 PART FIVE – MISCELLANEOUS PROVISIONS 
 9. Section 409A. 
 A. It is the intention of the parties that the provisions of this Agreement comply with the requirements of Section 409A of the Code and the Treasury Regulations thereunder. Accordingly, to the
extent there is any ambiguity as to whether one or more provisions of this Agreement would otherwise contravene the applicable requirements or limitations of Code Section 409A, then those provisions shall be interpreted and applied in a manner
that does not result in a violation of the applicable requirements or limitations of Code Section 409A and the Treasury Regulations thereunder. In no event may Executive, directly or indirectly, designate the calendar year of a payment.

 B. Notwithstanding any provision to the contrary in this Agreement (other than Section 6(C) below), no
payments or benefits to which the Executive becomes entitled under Part Two of this Agreement shall be made or paid to the Executive prior to the earlier of (A) the expiration of the 6-month period measured from the date of his or
her Separation from Service or (B) the date of the Executive’s death, if the Executive is deemed at the time of such Separation from Service a “specified employee” within the meaning of that term under Section 409A of the
code and the Treasury Regulation s thereunder and such delayed commencement is otherwise required in order to avoid a prohibited distribution under Code Section 409A(a)(2). Upon the expiration of the applicable Code Section 409A(a)(2)
deferral period, all payments deferred pursuant to this Section 6(B)shall be paid in a lump sum to the Executive, and any remaining payments due under this Agreement shall be paid in accordance with the normal payment dates specified for them
herein. 
 10. Employment at Will. The Executive’s employment with the Company shall remain at will.
Nothing in this Agreement is intended to provide the Executive with any right to continue in the employ of the Company (or any affiliate) for any period of specific duration or interfere with or otherwise restrict in any way the rights of the
Company (or any affiliate) or the Executive, which rights are hereby expressly reserved by each, to terminate the Executive’s employment at any time for any reason or for no reason. 
 11. Other Termination. The Executive shall not be entitled to receive any severance payments or benefits if there is a
Termination for Cause or his employment with the Company ends due to death, disability, retirement or voluntary termination (other than as specified in Part Three). Upon any such termination, the Company shall only be required to pay the Executive
(i) any unpaid compensation earned for services rendered through the date of such termination and (ii) the value of any accrued but unpaid vacation benefits or sick days, and no benefits will be payable under Part Two or Part Three of this
Agreement. In addition, all vesting in the Executive’s outstanding options and other equity awards, if any, shall cease at the time of such termination, and the Executive shall not have more than the period of time specified in the applicable
option agreement for each option in which to exercise that option following such termination of employment for the Company’s Common Shares which are vested and exercisable at the time of such termination. 
 12. Successors and Assigns. The provisions of this Agreement shall inure to the benefit of, and shall be binding upon,
(i) the Company and its successors and assigns, including any successor entity by merger, consolidation or transfer of all or substantially all of the Company’s assets (whether or not such transaction constitutes a Change in Control), and
(ii) the Executive, the personal representative of the Executive’s estate and the Executive’s heirs and legatees. 
 13. General Creditor Status. The benefits to which the Executive may become entitled under Part Two or Part Three of this Agreement shall be paid, when due, from the Company’s general assets, and no trust fund,
escrow arrangement or other segregated account shall be established as a funding vehicle for such payments. Accordingly, the Executive’s right (or the right of the executors or administrators of the Executive’s estate) to receive such
benefits shall at all times be that of a general creditor of the Company and shall have no priority over the claims of other general creditors. 
  

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 14. Governing Documents. This Agreement, together with (i) the
agreements evidencing the Executive’s currently outstanding options and any future option grants or other equity awards under the Plan and (ii) the Executive’s existing Proprietary Information and Inventions Agreement, shall
constitute the entire agreement and understanding of the Company and the Executive with respect to the payment of severance benefits to the Executive and shall supersede all prior and contemporaneous written or verbal agreements and understandings
between the Executive and the Company relating to such subject matter. This Agreement may only be amended by a written instrument signed by the Executive and an authorized officer of the Company. Any and all prior agreements, understandings or
representations relating to the Executive’s severance benefits, other than (i) the agreements evidencing the Executive’s currently outstanding options under the Plan and (ii) the Executive’s existing Proprietary Information
and Inventions Agreement, are hereby terminated and cancelled in their entirety and are of no further force or effect. 
 15. Governing Law. The provisions of this Agreement shall be construed and interpreted under the laws of the State of California applicable to agreements executed and wholly performed within the State of California. If
any provision of this Agreement as applied to any party or to any circumstance should be adjudged by a court of competent jurisdiction to be void or unenforceable for any reason, the invalidity of that provision shall in no way affect (to the
maximum extent permissible by law) the application of such provision under circumstances different from those adjudicated by the court, the application of any other provision of this Agreement, or the enforceability or invalidity of this Agreement
as a whole. Should any provision of this Agreement become or be deemed invalid, illegal or unenforceable in any jurisdiction by reason of the scope, extent or duration of its coverage, then such provision shall be deemed amended to the extent
necessary to conform to applicable law so as to be valid and enforceable or, if such provision cannot be so amended without materially altering the intention of the parties, then such provision will be stricken, and the remainder of this Agreement
shall continue in full force and effect. 
 16. Arbitration. 
 A. Each party agrees that any and all disputes which arise out of or relate to the Executive’s employment, the
termination of the Executive’s employment or the terms of this Agreement shall be resolved through final and binding arbitration. Such arbitration shall be in lieu of any trial before a judge and/or jury, and the Executive and Company
expressly waive all rights to have such disputes resolved through trial before a judge and/or jury. Such disputes shall include, without limitation, claims for breach of contract or of the covenant of good faith and fair dealing, claims of
discrimination, claims under any federal, state or local law or regulation now in existence or hereinafter enacted and as amended from time to time concerning in any way the subject of the Executive’s employment with the Company or its
termination. 
 B. Arbitration shall be held in Santa Clara County, California and conducted in accordance with
the National Rules for the Resolution of Employment Disputes of the American Arbitration Association (“AAA Rules”), provided, however, that the arbitrator shall allow the discovery authorized by California Code of Civil Procedure section
1282, et seq., or any other discovery required by applicable law in arbitration proceedings. To the extent that any of the AAA Rules conflict with applicable law, the arbitration procedures required by applicable law shall govern. 
 C. During the course of the arbitration, the Company will pay the arbitrator’s fee and any other type of expense or cost
that the Executive would not otherwise be required to bear if he were free to bring the dispute or claim in court and any other expense or cost that is unique to arbitration. The Company and the Executive shall each bear its or his own respective
attorneys’ fees incurred in connection with the arbitration. 
 D. The arbitrator shall issue a written
award that sets forth the essential findings of fact and conclusions of law on which the award is based. The arbitrator shall have the authority to award any relief authorized by law in connection with the asserted claims or disputes. The
arbitrator’s award shall be subject to correction, confirmation, or vacation, as provided by applicable law setting forth the standard of judicial review of arbitration awards. Judgment upon the arbitrator’s award may be entered in any
court having jurisdiction thereof. 
  

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 17. Legal Representation. The Executive acknowledges that he has
had the right to consult with counsel and is fully aware of his rights and obligations under this Agreement. 
 18.
Counterparts. This Agreement may be executed in more than one counterpart, each of which shall be deemed an original, but all of which together shall constitute but one and the same instrument. 
  

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 IN WITNESS WHEREOF, the parties have executed this Retention Agreement as of the day
and year written above. 
  

			
	ALPHA AND OMEGA SEMICONDUCTOR LIMITED
		
	By:	 	  

		
	Title:	 	  

		
	Dated:	 	 ,2010

	
	EXECUTIVE
		
		 	  

		
	Dated:	 	 , 2010

 [Signature to the Retention Agreement] 

 EXHIBIT A 
 FORM OF GENERAL RELEASE 
 THIS DOCUMENT IS INTENDED AS A FORM OF THE
GENERAL SETTLEMENT AND RELEASE. PURSUANT TO PARAGRAPH 1 AND PARAGRAPH 3 OF THE LETTER AGREEMENT, EXECUTION OF A RELEASE, IN SUBSTANTIALLY THE SAME FORM AS THIS EXHIBIT A IS A CONDITION FOR EXECUTIVE’S RECEIPT OF CERTAIN BENEFITS PURSUANT TO
PARAGRAPH 2 AND PARAGRAPH 4. THE FORM MUST BE FINALIZED BY ALPHA AND OMEGA SEMICONDUCTOR LIMITED PRIOR TO EXECUTION. 

 GENERAL SETTLEMENT AND RELEASE AGREEMENT 
 This General Settlement and Release Agreement (the “Agreement”) is by and between Alpha and Omega Semiconductor Limited, for
itself and for all of its affiliated, related, parent and direct and indirect subsidiary companies, joint venturers and partnerships, successors and permitted assigns and each of them (collectively, “AOS”), on the one hand, and
                    , for himself, and his agents, representatives, heirs and assigns (“Executive”), on the other hand. 
 1. Payments. In full and complete consideration for Executive’s promises and undertaking set forth in
this Agreement, following the eighth (8th) day
following receipt by AOS of a fully executed Settlement and Release Agreement from Executive, AOS will provide Executive the consideration, if any, to which Executive is entitled pursuant to the Letter Agreement between the parties, dated
                    , 2010, at the times specified in Paragraph 2 or Paragraph 4 (as applicable) of that Agreement unless the signature
on this Agreement is revoked pursuant to Paragraph 7 below. 
 2. Release of Known and Unknown Claims.

 (a) It is understood and agreed by the parties to this Agreement that in consideration of the mutual
promises and covenants contained in this Agreement, and after consultation with counsel, Executive irrevocably and unconditionally releases and forever discharges AOS and each of the other Released Parties from any and all causes of action, claims,
actions, rights, judgments, obligations, damages, demands, accountings or liabilities of whatever kind or character, which Executive may have against AOS or any of the Released Parties, or any of them, by reason of or arising out of, touching upon
or concerning Executive’s employment, separation of his employment and reapplication for employment with AOS, or any statutory claims, or any and all other matters of whatever kind, nature or description, whether known or unknown, occurring
prior to the date of the execution of this Agreement. Executive acknowledges that this release of claims specifically includes, but is not limited to, any and all claims for fraud; breach of contract; breach of the implied covenant of good faith and
fair dealing; inducement of breach; interference with contractual rights; wrongful or unlawful discharge or demotion; violation of public policy; sexual assault and battery; invasion of privacy; intentional or negligent infliction of emotional
distress; intentional or negligent misrepresentation; conspiracy; defamation; unlawful effort to prevent employment; discrimination or harassment on the basis of age, race, color, sex, national origin, ancestry, religion, disability, handicap,
medical condition or marital status; any claim under: Title VII, ADA, ADEA OWBPA, FMLA, COBRA, OSHA, ERISA, IRC, FEHA, CalOsha, or any other wrongful conduct, based upon events occurring prior to the date that this Agreement is executed by
Executive. Notwithstanding anything to the contrary herein, this Agreement shall not release Executive’s right, if any, to indemnification pursuant to the Company’s Bylaws or insurance policies, for any claims arising out of
Executive’s conduct as an employee or officer of the Company during his employment. 
 (b) Executive
represents and warrants that he has not assigned or subrogated any of his rights, claims or causes of action, including any claims referenced in this Agreement, or authorized any other person or entity to assert such claims on his behalf, and he
agrees to indemnify and hold harmless AOS and each of the Released Parties against any assignment of said rights, claims and/or causes of action. 
 3. Waiver of Unknown Claims. 
 (a) Executive
does hereby expressly waive and relinquish all rights and benefits afforded to him under law, and does so understanding and acknowledging the significance and consequences of such a waiver. 
 (b) Releases of Unknown Claims/Waiver of Civil Code Section 1542. The parties agree that this
Agreement is a full and final release of any and all claims and Executive expressly waives the benefit of Section 1542 of the California Civil Code, which provides: 
 “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE
TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR” 
  

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 (c) Executive acknowledges and understands that he is being
represented in this matter by counsel, and acknowledges that he is not required to release unknown claims but that he expressly acknowledges and agrees that this Agreement is also intended to include in its effect, without limitation, all such
claims which he does not know or suspect to exist at the time of the execution of this Agreement, and that this Agreement contemplates the extinguishment of those claims. 
 (d) Executive acknowledges and agrees that he may later discover facts different from or in addition to those he now
knows or believes to be true in entering into this Agreement. Executive agrees to assume the risk of the possible discovery of additional or different facts, including facts which may have been concealed or hidden, and agrees that this Agreement
shall remain effective regardless of such additional or different facts. Executive further acknowledges and agrees that neither AOS nor any of the other Released Parties had any duty to disclose any fact to him prior to the execution of this
Agreement. 
 4. Non-Admission of Liability. Executive expressly recognizes that this Agreement shall not in any
way be construed as an admission by AOS or any of the other Released Parties of any unlawful or wrongful acts whatsoever against Executive or any other person or entity. AOS and each of the Released Parties expressly denies any violation of any
policy or procedure, or of any state or federal law or regulation. AOS and each of the Released Parties also specifically denies any liability to or wrongful acts against Executive, or any other person, on the part of themselves or any other
employees or agents of AOS. This Agreement shall not be admissible in any proceeding as evidence of or any admission by AOS of any violation of any law or regulation or wrongful act. This Agreement may, however, be introduced in any proceeding to
enforce this Agreement. 
 5. No Filing of Claims. Executive specifically represents that he has no pending
complaints or charges against AOS or any of the other Released Parties with any state or federal court or any local, state or federal agency, division or department based on any events occurring prior to the date of execution of this Agreement.

 6. Advice of Counsel. Executive acknowledges that he has been given twenty-one days (21) to seek the
advice of counsel and to consider the effects of this Agreement upon his legal rights (the “Consideration Period”). To the extent that Executive has signed the Agreement without obtaining the advice of counsel or before expiration of the
Consideration Period, Executive acknowledges that he has done so voluntarily with a full understanding of the Agreement and its effect upon his legal rights. Any discussion between Executive and AOS or any of the Released Parties concerning the
terms and conditions of this Agreement does not extend the Consideration Period. 
 7. Revocation
Period. Executive acknowledges that he has been informed that, after he signs this Agreement, he has the right to revoke his signature for a period of seven days (7) from the date that he signs the Agreement. To be effective, the
revocation must be in writing, signed by Executive, and delivered to Vice President of Human Resources at 495 Mercury Drive, Sunnyvale, California 94085 before the close of business on the seventh day (7th) day following the date Executive signs this Agreement.
Executive acknowledges and agrees that AOS has no obligation to comply with the terms of this Agreement until the Revocation Period has expired without revocation. 
 8. Confidentiality. Executive consents and agrees that he will not, at any time, disclose the existence of this Agreement, the terms of his severance benefits and/or the alleged facts or
circumstances giving rise to any actual or alleged claims or the Action to any person, firm, Company, association, or entity or the press or media for any reason or purpose whatsoever, other than to his attorney, his immediate family and to his
accountant or financial advisor for tax purposes. If Executive is served with any subpoena, court order, or other legal process seeking disclosure of any such information, Executive shall promptly send to AOS, within forty-eight (48) hours, via
facsimile at (408) 830 9749, such subpoena, court order, or other legal process so that AOS may exercise any applicable legal remedies. Executive agrees and acknowledges that a violation of this paragraph by Executive shall be a material breach
of this Agreement. 
  

 3 

 9. Delivery of Documents. Executive represents and warrants that he has not
removed any documents, records or other information, including any such documents, records or information that are or were electronically stored, from the premises of AOS. Executive acknowledges that such documents, records and other information are
the exclusive property of AOS or its subsidiaries or affiliates. 
 10. Remedies For Breach Of This Agreement.

 (a) Injunctive Relief. In the event of a breach of the provisions of this Agreement,
Executive agrees that any remedy at law for any breach or threatened breach of the provisions of such paragraphs and the covenants set forth therein, will be inadequate and, accordingly, each party hereby stipulates that the other is entitled to
obtain injunctive relief for any such breaches or threatened breaches (without the necessity of posting a bond). The injunctive relief provided for in this paragraph is in addition to, and is not in limitation of, any and all other remedies at law
or in equity otherwise available to the applicable party. 
 (b) Remedies Cumulative. The
remedies in this paragraph are not exclusive, and the parties shall have the right to pursue any other legal or equitable remedies to enforce the terms of this Agreement. 
 (c) Governing Law; Consent to Jurisdiction. This Agreement shall be deemed to be a contract made under,
and shall be construed in accordance with, the laws of the State of California, without giving effect to conflict of laws principles thereof. All questions concerning the construction, validity, and interpretation of this Agreement shall be governed
by and construed in accordance with the domestic laws of the State of California, without giving effect to any choice of law or conflict of law provision that would cause the application of the laws of any jurisdiction other than the State of
California. Each of the parties hereby irrevocably and unconditionally consents to submit to the exclusive jurisdiction of the courts of the State of California or the United States District Court for the Northern District of California for any
litigation, proceeding or action arising out of or relating to this Agreement (and agrees not to commence any litigation, proceeding or action relating thereto except in such courts). Each of the parties hereby irrevocably and unconditionally waives
any objection to the laying of venue of any litigation, proceeding or action arising out of this agreement or thereby in the courts of the State of California or the United States District Court for the Northern District of California and hereby
further irrevocably and unconditionally waives and agrees not to plead or claim in any such court that any such litigation, proceeding or action brought in any such court has been brought in an inconvenient forum. 
 11. Counsel. The parties hereby acknowledge that they have had the reasonable opportunity to consult with attorneys of their
own choice concerning the terms and conditions of this Agreement, that they have read and understand this Agreement, that they are fully aware of the contents of this Agreement and that they enter into this agreement freely and knowingly and with a
full understanding of its legal effect. 
 12. Entire Agreement. This is the entire agreement between Executive
and AOS with respect to the subject matter hereof and the Agreement supersedes any previous negotiations, agreements and understandings. Executive acknowledges that he has not relied on any oral or written representations by AOS (or its counsel) or
any of the other Released Parties to induce him to sign this Agreement, other than the terms of this Agreement. No modifications of this Agreement can be made except in writing signed by Executive and AOS. 
 13. Severability. If any provision of this Agreement is held to be illegal, invalid or unenforceable under existing or future
laws effective during the term of this Agreement, such provisions shall be fully several, the Agreement shall be construed and enforced as if such illegal, invalid or unenforceable provision had never comprised a part of this Agreement, and the
remaining provisions of this Agreement shall remain in full force and effect and shall not be affected by the illegal, invalid or unenforceable provision or by its severance from this Agreement. Furthermore, in lieu of such illegal, invalid or
unenforceable provision, there shall be added automatically as part of this Agreement a provision as similar in terms to such illegal, invalid or unenforceable provision as may be possible and be legal, valid and enforceable. 
  

 4 

 14. Ambiguities. Attorneys for both parties have participated in the
negotiation of this Agreement and, thus, it is understood and agreed that the general rule that ambiguities are to be construed against the drafter shall not apply to this Agreement. In the event that any language of this Agreement is found to be
ambiguous, each party shall have an opportunity to present evidence as to the actual intent of the parties with respect to any such ambiguous language. 
 15. Waiver. No waiver by any party of any breach of any term or provision of this Agreement shall be a waiver of any preceding, concurrent or succeeding breach of this Agreement or of any
other term or provision of this Agreement. No waiver shall be binding on the part of, or on behalf of, any other party entering into this Agreement. 
 16. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, all of which together shall constitute one and the same instrument,

 THE SIGNATORIES HAVE CAREFULLY READ THIS ENTIRE AGREEMENT. ITS CONTENTS HAVE BEEN FULLY EXPLAINED TO THEM BY THEIR ATTORNEYS.
THE SIGNATORIES FULLY UNDERSTAND THE FINAL AND BINDING EFFECT OF THIS AGREEMENT. THE ONLY PROMISES MADE TO ANY SIGNATORY ABOUT THIS AGREEMENT, AND TO SIGN THIS AGREEMENT, ARE CONTAINED IN THIS AGREEMENT. THE SIGNATORIES ARE SIGNING THIS AGREEMENT
VOLUNTARILY. 
 PLEASE READ CAREFULLY. 
 THIS SETTLEMENT AGREEMENT AND GENERAL RELEASE 
 INCLUDES A RELEASE OF
KNOWN AND UNKNOWN CLAIMS 
  

 5 

 IN WITNESS WHEREOF, the parties have executed this General Settlement and Release
Agreement on the dates set forth below. 
  

			
	ALPHA AND OMEGA SEMICONDUCTOR LIMITED:
		
	By:	 	  

		
	Title:	 	  

		
	Dated:	 	  

	
	EXECUTIVE:
		
		 	  

		
	Dated:	 	  

 [Signature Page to General Settlement and Release Agreement]Employee Share Purchase Plan

 Exhibit 10.15 
 ALPHA AND OMEGA SEMICONDUCTOR LIMITED  
 EMPLOYEE SHARE PURCHASE PLAN 
 I. PURPOSE OF THE PLAN 
 This Employee Share Purchase Plan is intended to promote the interests of Alpha and Omega Semiconductor Limited, a company incorporated and
existing under the laws of the Islands of Bermuda, by providing eligible employees with the opportunity to acquire a proprietary interest in the Company through participation in a payroll deduction-based employee share purchase plan designed to
qualify under Section 423 of the Code. However, the Company may grant purchase rights pursuant to one or more offerings under the Plan that are not intended to meet the requirements of Code Section 423. 
 Capitalized terms herein shall have the meanings assigned to such terms in the attached Appendix. 
 II. ADMINISTRATION OF THE PLAN 
 The Plan Administrator shall have full authority to interpret and construe any provision of the Plan and to adopt such rules and regulations for administering the Plan as it may deem necessary in order to comply with the requirements of
Code Section 423 or other applicable law. Decisions of the Plan Administrator shall be final and binding on all parties having an interest in the Plan. 
 III. SHARES SUBJECT TO PLAN 
 A. The shares purchasable under the Plan shall
be authorized but unissued or reacquired Common Shares, including Common Shares purchased on the open market. The number of Common Shares initially reserved for issuance over the term of the Plan shall be limited to six hundred thousand
(600,000) shares. 
 B. The number of Common Shares available for issuance under the Plan shall automatically increase on
the first trading day of January each calendar year during the term of the Plan, beginning with calendar year 2011, by an amount equal to three quarters of one percent (0.75%) of the total number of Common Shares outstanding on the last trading day
in December of the immediately preceding calendar year, but in no event shall any such annual increase exceed two hundred and fifty thousand (250,000) shares. 
 C. Should any change be made to the Common Shares by reason of any share split, share dividend, recapitalization, combination of shares, exchange of shares, spin-off transaction, extraordinary
distribution (whether in cash, securities or other property) or other change affecting the outstanding Common Shares as a class without the Company’s receipt of consideration, or should the value of the outstanding Common Shares be
substantially reduced as a result of a spin-off transaction or an extraordinary dividend or distribution, then equitable adjustments shall be made to (i) the maximum number and class of securities issuable under the Plan, (ii) the maximum
number and/or class of securities by which the share reserve is to increase automatically each calendar year pursuant to the provisions of Section III.B of this Article One, (iii) the maximum number and class of securities purchasable per
Participant on any one Purchase Date, (iv) the maximum number and class of securities purchasable in total by all Participants on any one Purchase Date and (v) the number and class of securities and the price per share in effect under each
outstanding purchase right. The adjustments shall be made in such manner as the Plan Administrator deems appropriate in order to prevent the dilution or enlargement of benefits thereunder. 
 IV. OFFERING PERIODS 
 A.
The Plan shall be implemented in one or more offerings. Offerings may be consecutive or overlapping. Each offering shall be in such form and shall contain such terms and conditions as the Plan Administrator shall deem appropriate. The terms of
separate offerings need not be identical; provided, however, that each offering shall comply with the provisions of the Plan. 

 B. Common Shares shall be offered for purchase under each offering through a series of
overlapping offering periods until such time as (i) the maximum number of Common Shares available for issuance under the Plan shall have been purchased or (ii) the Plan shall have been sooner terminated. 
 C. Each offering period shall be of such duration (not to exceed twenty-four (24) months) as determined by the Plan Administrator prior
to the commencement date of such offering period. The initial offering period shall commence at the Effective Time or such later time as determined by the Plan Administrator. 
 D. Each offering period shall consist of one or more successive Purchase Intervals as determined by the Plan Administrator prior to the
commencement of such offering period. 
 E. Should the Fair Market Value per Common Share on any Purchase Date within a
particular offering period be less than the Fair Market Value per Common Share on the start date of that offering period, then the individuals participating in such offering period shall, immediately after the purchase of Common Shares on their
behalf on such Purchase Date, be transferred from that offering period and automatically enrolled in the next offering period commencing on the next business day following such Purchase Date. The new offering period shall have a duration of twenty
four (24) months unless a shorter duration is established by the Plan Administrator within five (5) days following the start date of that offering period. 
 V. ELIGIBILITY 
 A. Purchase rights may be granted under the Plan only to
Employees of the Company or an Affiliate. Unless otherwise determined by the Plan Administrator for an offering, each individual who is an Eligible Employee on the start date of any offering period under the Plan may enter that offering period on
such start date. However, no Eligible Employee may participate in more than one offering period at any one time. 
 B. The date
an individual enters an offering period shall be designated his or her Entry Date for purposes of that offering period. 
 C.
Except as otherwise provided in Section IV.E above, an Eligible Employee must, in order to participate in the Plan for a particular offering period, complete the enrollment forms prescribed by the Plan Administrator (including a share purchase
agreement and a payroll deduction authorization) and file such forms with the Plan Administrator (or its designate) on or before his or her scheduled Entry Date. 
 VI. PAYROLL DEDUCTIONS 
 A. The payroll deduction authorized by the
Participant for purposes of acquiring Common Shares during an offering period may be any multiple of one percent (1%) of the Cash Earnings or Base Salary (as determined by the Plan Administrator prior to the start of the offering period) paid
to the Participant during each Purchase Interval within that offering period, up to a maximum of fifteen percent (15%). The deduction rate so authorized shall continue in effect throughout the offering period, except to the extent such rate is
changed in accordance with the following guidelines: 
 (i) The Participant may, at any time during the offering
period, reduce his or her rate of payroll deduction to become effective as soon as possible after filing the appropriate form with the Plan Administrator. Unless otherwise determined by the Plan Administrator for an offering, the Participant may
not, however, effect more than one (1) such reduction per Purchase Interval. 
 (ii) The Participant may,
prior to the commencement of any new Purchase Interval within the offering period or prior to the start date of any new offering period, increase the rate of his or her payroll deduction by filing the appropriate form with the Plan Administrator.
The new rate (which may not exceed the maximum payroll deduction percentage in effect for that offering period) shall become effective on the start date of the first Purchase Interval or first offering period (if earlier) following the filing of
such form. 
  

 2 

 B. Payroll deductions shall begin on the first pay day administratively feasible following
the Participant’s Entry Date and shall (unless sooner terminated by the Participant) continue through the pay day ending with or immediately prior to the last day of that offering period. The amounts so collected shall be credited to the
Participant’s book account under the Plan, but no interest shall be paid on the balance from time to time outstanding in such account unless otherwise required by applicable law. The amounts collected from the Participant shall not be required
to be held in any segregated account or trust fund and may be commingled with the general assets of the Company and used for general corporate purposes unless otherwise required by applicable law. 
 C. Payroll deductions (together with any permitted contributions) shall automatically cease upon the termination of the Participant’s
purchase right in accordance with the provisions of the Plan. 
 D. The Plan Administrator may permit Employees in one or more
offerings to contribute to the Plan by means other than payroll deductions. 
 E. The Participant’s acquisition of Common
Shares under the Plan on any Purchase Date shall neither limit nor require the Participant’s acquisition of Common Shares on any subsequent Purchase Date, whether within the same or a different offering period. 
 VII. PURCHASE RIGHTS 
 A.
Grant of Purchase Rights. A Participant shall be granted a separate purchase right for each offering period in which he or she is enrolled. The purchase right shall be granted on the Participant’s Entry Date and shall provide the
Participant with the right to purchase Common Shares, in a series of one or more successive installments during that offering period, upon the terms set forth below. 
 Under no circumstances shall purchase rights be granted under the Plan to any Eligible Employee if such individual would, immediately after the grant, own (within the meaning of Code Section 424(d))
or hold outstanding options or other rights to purchase, shares possessing five percent (5%) or more of the total combined voting power or value of all classes of shares of the Company or any Affiliate. 
 B. Exercise of the Purchase Right. Each purchase right shall be automatically exercised on each successive Purchase Date
within the offering period, and Common Shares shall accordingly be purchased on behalf of each Participant on each such Purchase Date. The purchase shall be effected by applying the Participant’s payroll deductions (or, to the extent
applicable, his or her lump sum contribution) for the Purchase Interval ending on such Purchase Date to the purchase of whole Common Shares at the purchase price in effect for the Participant for that Purchase Date. 
 C. Purchase Price. The purchase price per share at which Common Shares will be purchased on the Participant’s behalf on
each Purchase Date within the particular offering period in which he or she is enrolled shall be determined by the Plan Administrator and shall be equal to at least eighty-five percent (85%) of the lower of
(i) the Fair Market Value per Common Share on the Participant’s Entry Date or (ii) the Fair Market Value per Common Share on that Purchase Date. 
 D. Number of Purchasable Shares. The number of Common Shares purchasable by a Participant on each Purchase Date during the particular offering period in which he or she is enrolled shall be
the number of whole shares obtained by dividing the amount collected from the Participant through payroll deductions during the Purchase Interval ending with that Purchase Date (or, to the extent applicable, his or her lump sum contributions) by the
purchase price in effect for the Participant for that Purchase Date. However, prior to the start of an offering period, the Plan Administrator shall specify the maximum number of Common Shares purchasable per Participant on any one Purchase Date
within such offering period and the maximum number of Common Shares purchasable in total by all Participants on any one Purchase Date within such offering period, with each such

  

 3 

 
limitation subject to periodic adjustments in the event of certain changes in the Company’s capitalization. The Plan Administrator shall have the discretionary authority, exercisable prior
to the start of any offering period under the Plan, to increase or decrease the limitations to be in effect for the number of shares purchasable per Participant and in total by all Participants on each Purchase Date within that offering period.

 E. Excess Payroll Deductions. Any payroll deductions (or contributions) not applied to the purchase of Common
Shares on any Purchase Date because they are not sufficient to purchase a whole Common Share shall be held for the purchase of Common Shares on the next Purchase Date. However, any payroll deductions (or contributions) not applied to the purchase of
Common Shares by reason of the limitation on the maximum number of shares purchasable per Participant or in total by all Participants on the Purchase Date shall be promptly refunded. 
 F. Suspension of Payroll Deductions. In the event that a Participant is, by reason of the accrual limitations in Article VIII,
precluded from purchasing additional Common Shares on one or more Purchase Dates during the offering period in which he or she is enrolled, then no further payroll deductions (or contributions) shall be collected from such Participant with respect
to those Purchase Dates. The suspension of such deductions (or contributions) shall not terminate the Participant’s purchase right for the offering period in which he or she is enrolled, and payroll deductions (or, to the extent applicable,
contributions) shall automatically resume on behalf of such Participant once he or she is again able to purchase shares during that offering period in compliance with the accrual limitations of Article VIII. 
 G. Withdrawal from Offering Period. The following provisions shall govern the Participant’s withdrawal from an offering
period: 
 (i) A Participant may withdraw from the offering period in which he or she is enrolled at any time
prior to the next scheduled Purchase Date by filing the appropriate form with the Plan Administrator (or its designate), and no further payroll deductions (or contributions) shall be collected from the Participant with respect to that offering
period. Any payroll deductions (or contributions) collected during the Purchase Interval in which such withdrawal occurs shall, at the Participant’s election, be immediately refunded or held for the purchase of shares on the next Purchase Date.
If no such election is made at the time of such withdrawal, then the payroll deductions (or contributions) collected from the Participant during the Purchase Interval in which such withdrawal occurs shall be refunded as soon as possible. 

(ii) The Participant’s withdrawal from a particular offering period shall be irrevocable, and the Participant may not
subsequently rejoin that offering period at a later date. In order to resume participation in any subsequent offering period, such individual must re-enroll in the Plan (by making a timely filing of the prescribed enrollment forms) on or before his
or her scheduled Entry Date into that offering period. 
 H. Termination of Purchase Right. The following
provisions shall govern the termination of outstanding purchase rights: 
 (i) Should the Participant cease to
remain an Eligible Employee for any reason (including death, disability or change in status) while his or her purchase right remains outstanding, then that purchase right shall immediately terminate, and all of the Participant’s payroll
deductions (or, to the extent applicable, his or her lump sum contributions) for the Purchase Interval in which the purchase right so terminates shall be immediately refunded. 
 (ii) However, should the Participant cease to remain in active service by reason of an approved unpaid leave of absence, then
the Participant shall have the right, exercisable up until the last business day of the Purchase Interval in which such leave commences, to (a) withdraw all the payroll deductions (or contributions) collected to date on his or her behalf for
that Purchase Interval or (b) have such funds held for the purchase of shares on his or her behalf on the next scheduled Purchase Date. Unless otherwise determined by the Plan Administrator for one or more offerings, in no event, however, shall
any further payroll deductions be collected on the Participant’s behalf during such leave. Upon the Participant’s return

  

 4 

 
to active service (x) within three (3) months following the commencement of such leave or (y) prior to the expiration of any longer period for which such Participant has a right to
reemployment with the Company (or an Affiliate) provided by statute or contract, his or her payroll deductions under the Plan shall automatically resume (and the Participant may resume contributions to the extent permitted) at the rate in effect at
the time the leave began, unless the Participant withdraws from the Plan prior to his or her return. Unless otherwise determined by the Plan Administrator for one or more offerings, an individual who returns to active employment following a leave of
absence that exceeds in duration the applicable (x) or (y) time period will be treated as a new Employee for purposes of subsequent participation in the Plan and must accordingly re-enroll in the Plan (by making a timely filing of the
prescribed enrollment forms) on or before his or her scheduled Entry Date into the offering period. 
 I. Change in
Control. Each outstanding purchase right shall automatically be exercised, immediately prior to the effective date of any Change in Control, by applying the payroll deductions of each Participant (or, to the extent applicable, his or her
lump sum contributions) for the Purchase Interval in which such Change in Control occurs to the purchase of whole Common Shares at a purchase price per share equal to eighty-five percent (85%) of the lower of (i) the Fair Market Value per
Common Share on the Participant’s Entry Date into the offering period in which such individual is enrolled at the time of such Change in Control or (ii) the Fair Market Value per Common Share immediately prior to the effective date of such
Change in Control (or such higher price in effect for the Purchase Interval). However, any applicable limitation on the number of Common Shares purchasable per Participant shall continue to apply to any such purchase, but not the limitation
applicable to the maximum number of Common Shares purchasable in total by all Participants on any one Purchase Date. 
 The
Company shall use its best efforts to provide at least ten (10) days’ prior written notice of the occurrence of any Change in Control, and the Participants shall, following the receipt of such notice, have the right to terminate their
outstanding purchase rights prior to the effective date of the Change in Control. 
 J. Proration of Purchase
Rights. Should the total number of Common Shares to be purchased pursuant to outstanding purchase rights on any particular date exceed the number of shares then available for issuance under the Plan, the Plan Administrator shall make a
pro-rata allocation of the available shares on a uniform and nondiscriminatory basis, and the payroll deductions of each Participant, to the extent in excess of the aggregate purchase price payable for the Common Shares pro-rated to such individual,
shall be refunded. 
 K. ESPP Brokerage Account. The Plan Administrator shall have the discretionary authority to
require that the shares purchased on behalf of each Participant be deposited directly into a brokerage account which the Company shall establish for the Participant at a Company-designated brokerage firm. The account will be known as the ESPP
Brokerage Account, and any shares deposited in the Participant’s ESPP Broker Account must remain in that account until the earliest to occur of (i) the date those shares are to be sold or transferred by gift,
(ii) the date on which the requisite holding period necessary to avoid a disqualifying disposition of those shares under the federal tax laws has been satisfied, or (iii) the date of the Participant’s death. 
 L. Assignability. The purchase right shall be exercisable only by the Participant and shall not be assignable or transferable
by the Participant. 
 M. Shareholder Rights. A Participant shall have no shareholder rights with respect to the
shares subject to his or her outstanding purchase right until the shares are purchased on the Participant’s behalf in accordance with the provisions of the Plan and the Participant has become a holder of record of the purchased shares.

 VIII. ACCRUAL LIMITATIONS 
 A. No Participant shall be entitled to accrue rights to acquire Common Shares pursuant to any purchase right outstanding under this Plan if and to the extent such accrual, when aggregated with
(i) rights to purchase Common Shares accrued under any other purchase right granted under this Plan and (ii) similar rights accrued

  

 5 

 
under other employee share purchase plans (within the meaning of Code Section 423)) of the Company or any Affiliate, would otherwise permit such Participant to purchase more than Twenty-Five
Thousand Dollars ($25,000.00) worth of shares of the Company or any Affiliate (determined on the basis of the Fair Market Value per share on the date or dates such rights are granted) for each calendar year such rights are at any time outstanding.

 B. For purposes of applying such accrual limitations to the purchase rights granted under the Plan, the following provisions
shall be in effect: 
 (i) The right to acquire Common Shares under each outstanding purchase right shall accrue
in a series of installments on each successive Purchase Date during the offering period in which such right remains outstanding. 
 (ii) No right to acquire Common Shares under any outstanding purchase right shall accrue to the extent the Participant has already accrued in the same calendar year the right to acquire Common Shares
under one or more other purchase rights at a rate equal to Twenty-Five Thousand Dollars ($25,000.00) worth of Common Shares (determined on the basis of the Fair Market Value per share on the date or dates of grant) for each calendar year such rights
were at any time outstanding. 
 C. If by reason of such accrual limitations, any purchase right of a Participant does not
accrue for a particular Purchase Interval, then the payroll deductions (or contributions) that the Participant made during that Purchase Interval with respect to such purchase right shall be promptly refunded. 
 D. In the event there is any conflict between the provisions of this Article and one or more provisions of the Plan or any instrument issued
thereunder, the provisions of this Article shall be controlling. 
 IX. EFFECTIVE DATE AND TERM OF THE PLAN 
 A. The Plan was adopted by the Board on February 10, 2010 and shall become effective at the Effective Time, provided no purchase rights
granted under the Plan shall be exercised, and no Common Shares shall be issued hereunder, until (i) the Plan shall have been approved by the shareholders of the Company and (ii) the Company shall have complied with all applicable
requirements of the 1933 Act (including the registration of the Common Shares issuable under the Plan on a Form S-8 registration statement filed with the Securities and Exchange Commission), all applicable listing requirements of the Stock Exchange
on which the Common Share is listed for trading and all other applicable requirements established by law or regulation. In the event such shareholder approval is not obtained, or such compliance is not effected, within twelve (12) months after
the date on which the Plan is adopted by the Board, the Plan shall terminate and have no further force or effect, and all sums collected from Participants during the initial offering period hereunder shall be refunded. 
 B. Unless sooner terminated by the Board, the Plan shall terminate upon the earliest of (i) February 9, 2020, (ii) the date
on which all shares available for issuance under the Plan shall have been sold pursuant to purchase rights exercised under the Plan or (iii) the date on which all purchase rights are exercised in connection with a Change in Control. No further
purchase rights shall be granted or exercised, and no further payroll deductions (or contributions) shall be collected, under the Plan following such termination. 
 X. AMENDMENT OF THE PLAN 
 A. The Board may alter, amend, suspend or
terminate the Plan at any time to become effective immediately following the close of any Purchase Interval. 
 B. In no event
may the Board effect any of the following amendments or revisions to the Plan without the approval of the Company’s shareholders: (i) increase the number of Common Shares issuable under the Plan, except for permissible adjustments in the
event of certain changes in the Company’s capitalization, (ii) alter the purchase price formula so as to reduce the minimum purchase price payable for the Common Shares purchasable under the Plan or (iii) modify the eligibility
requirements for participation in the Plan. 
  

 6 

 XI. GENERAL PROVISIONS 
 A. All costs and expenses incurred in the administration of the Plan shall be paid by the Company; however, each Participant shall bear all costs and expenses incurred by such individual in the sale or
other disposition of any shares purchased under the Plan. 
 B. Nothing in the Plan shall confer upon the Participant any right
to continue in the employ of the Company or any Affiliate for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Company (or any Affiliate employing such person) or of the Participant, which rights
are hereby expressly reserved by each, to terminate such person’s employment at any time for any reason, with or without cause. 
 C. The provisions of the Plan shall be governed by the laws of the State of California without resort to that State’s conflict-of-laws rules. 
  

 7 

 APPENDIX 
 The following definitions shall be in effect under the Plan: 
 A. Affiliate shall mean any parent or subsidiary corporation of the Company (as determined in accordance with
Code Section 424), whether now existing or subsequently established. 
 B. Base Salary shall
mean the regular base salary paid to a Participant by one or more Participating Companies during such individual’s period of participation in one or more offering periods under the Plan. Base Salary shall be calculated before deduction of
(i) any income or employment tax withholdings or (ii) any contributions made by the Participant to any Code Section 401(k) salary deferral plan or any Code Section 125 cafeteria benefit program now or hereafter established by the
Company or any Affiliate. However, Base Salary shall not include (i) any overtime payments, bonuses, commissions, profit-sharing distributions or other incentive-type payments received during the Participant’s period of
participation or (ii) any contributions made by the Company or any Affiliate on the Participant’s behalf to any employee benefit or welfare plan now or hereafter established (other than Code Section 401(k) or Code Section 125
contributions deducted from his or her Base Salary). 
 C. Board shall mean the Company’s
Board of Directors. 
 D. Cash Earnings shall mean (i) the regular base salary paid to a
Participant by one or more Participating Companies during such individual’s period of participation in one or more offering periods under the Plan and (ii) any overtime payments, bonuses, commissions, profit-sharing distributions and other
incentive-type payments received during such period. Cash Earnings shall be calculated before deduction of (A) any income or employment tax withholdings or (B) any contributions made by Participant to any Code Section 401(k) salary
deferral plan or Code Section 125 cafeteria benefit program now or hereafter established by the Company or any Corporate Affiliate. Cash Earnings shall not include any contributions made on the Participant’s behalf by the Company or any
Corporate Affiliate to any employee benefit or welfare plan now or hereafter established (other than Code Section 401(k) or Code Section 125 contributions deducted from such Cash Earnings). The Plan Administrator may make modifications to
the definition of Cash Earnings for one or more offerings as deemed appropriate. 
 E. Change in
Control shall mean a change in ownership or control of the Company effected through any of the following transactions: 
 (i) a merger, consolidation or other reorganization approved by the Company’s shareholders, 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 and in substantially the same proportion, by the persons who beneficially owned the Company’s outstanding voting securities
immediately prior to such transaction, 
 (ii) a sale, transfer or other disposition of all or substantially all
of the Company’s assets in liquidation or dissolution of the Company, or 
 (iii) the acquisition, directly
or indirectly by any person or related group of persons (other than the Company or a person that directly or indirectly controls, is controlled by, or is under common control with, the Company), of beneficial ownership (within the meaning of Rule
13d-3 of the 1934 Act) of securities possessing more than fifty percent (50%) of the total combined voting power of the Company’s outstanding securities pursuant to a tender or exchange offer made directly to the Company’s
shareholders. 
 F. Code shall mean the Internal Revenue Code of 1986, as amended. 
 G. Common Share shall mean the Company’s common share. 
 H. Company shall mean Alpha and Omega Semiconductor Limited, a company incorporated and existing under the laws
of the Islands of Bermuda, and any corporate successor to all or substantially all of the assets or voting shares of Alpha and Omega Semiconductor Limited that shall by appropriate action adopt the Plan. 
  

 A-1 

 I. Effective Time shall mean the time at which the
Underwriting Agreement is executed and the Common Shares priced for the initial public offering of such Common Shares. 
 J. Eligible Employee shall mean any Employee who is employed by a Participating Company on a basis under which he or she is regularly expected to render more than twenty (20) hours of service per week for more than five
(5) months per calendar year for earnings considered wages under Code Section 3401(a). 
 K.
Employee shall mean an individual who is in the employ of the Company (or any Affiliate), subject to the control and direction of the employer entity as to both the work to be performed and the manner and method of performance.

 L. Entry Date shall mean the date an Eligible Employee first commences participating in the
offering period in effect under the Plan. The earliest Entry Date under the Plan shall be the Effective Time. 
 M. Fair Market Value per Common Share on any relevant date shall be the closing selling price per Common Share at the close of regular hours trading (i.e., before after-hours trading begins) on date on question on the Stock
Exchange serving as the primary market for the Common Share, as such price is reported by the National Association of Securities Dealers (if primarily traded on the Nasdaq Global Select Market) or as officially quoted in the composite tape of
transactions on any other Stock Exchange on which the Common Share is then primarily traded. If there is no closing selling price for the Common Share on the date in question, then the Fair Market Value shall be the closing selling price on the last
preceding date for which such quotation exists. However, if the initial offering period begins at the Effective Time, the Fair Market Value shall be deemed to be equal to the price per share at which the Common Share is sold in the initial public
offering pursuant to the Underwriting Agreement. 
 N. 1933 Act shall mean the Securities Act of
1933, as amended. 
 O. Participant shall mean any Eligible Employee of a Participating Company who
is actively participating in the Plan. 
 P. Participating Company shall mean the Company and such
Affiliate or Affiliates as may be authorized from time to time by the Board to extend the benefits of the Plan to their Eligible Employees. 
 Q. Plan shall mean the Company’s Employee Share Purchase Plan, as set forth in this document. 
 R. Plan Administrator shall mean the committee of two (2) or more Board members appointed by the Board to
administer the Plan. 
 S. Purchase Date shall mean the last business day of each Purchase
Interval. 
 T. Purchase Interval shall mean each purchase interval within a particular offering
period (as determined by the Plan Administrator) at the end of which there shall be purchased Common Shares on behalf of each Participant. 
 U. Stock Exchange shall mean the American Stock Exchange, the Nasdaq Global or Global Select Market or the New York Stock Exchange. 
 V. Underwriting Agreement shall mean the agreement between the Company and the underwriter or underwriters
managing the initial public offering of the Common Shares. 
  

 A-2 

 ALPHA AND OMEGA SEMICONDUCTOR LIMITED 
 TERMS OF OFFERINGS UNDER EMPLOYEE SHARE PURCHASE PLAN 
  

	 	•	 	 Offerings: The plan will be implemented in a series of overlapping offering periods. 

  

	 	•	 	 Offering Periods: Initial offering period will commence on the date the underwriting agreement is executed and priced and will end on
April 30, 2012. Subsequent offering periods will commence on May 1 and November 1 each year with a duration of up to 24 months. 

  

	 	•	 	 Purchase Dates: Each offering period will be comprised of 4 purchase intervals; shares will be purchased on the last day of each purchase
interval. The first purchase will occur on October 31, 2010. Subsequent purchases will occur on last business day in April and October each year. 

  

	 	•	 	 Purchase Price: The purchase price per share will be equal to 85% of the lower of (i) the market price on the start date of the
offering period or (ii) the market price on the semi-annual purchase date. For an employee who enrolls in the first offering period at the time of the IPO, the IPO price will be locked in for 24 months providing a significant retention tool.

  

	 	•	 	 Payroll Deduction: The purchase price is to be paid through periodic payroll deductions not to exceed 15% of the participant’s base salary.

  

	 	•	 	 Maximum Number of Shares Per Purchase Date: No participant may purchase more than 875 shares on any purchase date and the maximum number of
shares purchasable in total by all participants on any one purchase date will be limited to 250,000. Under IRC Section 423, no participant may accrue rights in the aggregate to purchase more than $25,000 of shares (based on fair market value on
start dates of the offering period) per calendar year.

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