Document:

Foundry Agreement, dated November 22, 2005

 Exhibit 10.16 
  
 CONFIDENTIAL TREATMENT REQUESTED BY PIXELPLUS CO., LTD. THIS EXHIBIT HAS BEEN REDACTED. REDACTED MATERIAL IS MARKED WITH “*” AND HAS BEEN FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION. 
  
 

 
  
 FOUNDRY AGREEMENT 

 
 This Foundry Agreement (the “Agreement”) is entered into this 22nd day of
November, 2005 (the “Effective Date”) by and between Pixelplus Co. Ltd., with offices at 5th Floor, Intellige 1, KINS Tower, 25-1 Jeongja-dong, Bundang-gu, Seongnam-si, Gyeonggi-do 463-811, Korea (“Pixelplus”), on behalf of
itself and its wholly-owned subsidiaries Pixelplus Semiconductor, Inc., and Pixelplus Shanghai Co., Limited (collectively, “Buyer”); and United Microelectronics Corporation, an ROC Corporation with a principal place of business at No. 3,
Li-Hsin Rd., Science-Based Industrial Park, Hsin-Chu City, Taiwan 30077, ROC (“Seller” or “Manufacturer”). 
  
 RECITALS 
  
 A. WHEREAS, Seller is in the business of furnishing semiconductor wafers manufactured by United Microelectronics Corporation, a corporation organized under the laws of the Republic of China (“Manufacturer”);

  
 B. WHEREAS, Buyer desires to have Seller furnish to it semiconductor wafers
manufactured by Manufacturer; 
  
 C. WHEREAS, Seller, a wholly-owned subsidiary of
Manufacturer, guarantees the performance of those of Seller’s obligations hereunder which would logically be performed by Manufacturer; 
  
 NOW, THEREFORE, in consideration of the following covenants and conditions the parties agree: 
  

	1	DEFINITIONS 

  

	1.1	“Acceptance Criteria” shall include without limitation process control monitors on a process-by-process basis, and other wafer acceptance criteria and visual
inspection specifications pertaining to a particular Product or process, and each relevant accept/reject criteria, regardless whether such matters are embodied in a Pilot Run Agreement, a Pre Production Agreement, a Mass Production Agreement, or
some other form, and shall constitute the definitive authority with respect to determination of whether a particular Product meets the parties’ agreed-upon 

	  	technical specifications. No Acceptance Criteria shall be binding until in a writing signed by Seller and Buyer which clearly and specifically identifies the Products (by mask or
product number) and processes (by Seller’s process designation) involved. 

  

	1.2	“Products” shall mean the products to be manufactured pursuant to this Agreement as specified in Quotation(s). 

  

	1.3	“Quotation(s)” shall mean the quotations attached hereto as Exhibit A.xx and such further quotations as are signed by Seller and accepted by Buyer. Placing a
Purchase Order pursuant to a Quotation shall constitute acceptance of such Quotation and of the pricing and terms therein. Each such Quotation shall describe the Products to be manufactured, prices, fees and charges for the Products. A reference to
a Product in a quotation shall be deemed to incorporate by reference the Acceptance Criteria for such referenced Product. Prices shall be separately itemized for mask sets, processed wafers, wafer probe, assembly and final test, to the extent such
services are contemplated in connection with the particular Product. 

  

	2	PRODUCTION PROCEDURES 

  

	2.1	Product Prototype Approval. No Product prototypes shall be manufactured except pursuant to a Quotation. For each Quotation for a new Product agreed upon by the parties, Buyer
will deliver a data file on tape or by electronic transmission (e.g., ftp) in GDS II format or, subject to agreement with Seller, a mask set. If Buyer provides its design in the form of a data file, then upon receipt of the data from Buyer, Seller
will arrange the logistics of having a mask set produced on Buyer’s behalf with a mask shop of Buyer’s choice, provided such mask shop meets Seller’s qualifications, unless otherwise instructed by Buyer. In either case, Seller will
produce one or more pilot wafer runs according to the schedule and at the price set forth in the Quotation. Within ninety (90) days after receipt of pilot run wafers for a new Product, Buyer may return any claimed non-conforming pilot wafers to
Seller with a written rejection statement specifying the alleged failure or failures of the pilot wafers to meet the applicable Acceptance Criteria. If Buyer does not return the pilot wafers with a written rejection statement within such ninety (90)
day period, then the process and pilot wafers shall be deemed to have been approved by Buyer. If any pilot wafer does not meet the Acceptance Criteria for reasons attributable to Seller and is rejected by Buyer, Seller shall at Seller’s expense
use commercially reasonable efforts to rerun the pilot wafers and resubmit the results in a manner that complies with the Acceptance Criteria. If Seller, within ninety (90) days after receipt of Buyer’s timely written rejection report, is
unable to supply Buyer with conforming pilot wafers, then either party may by written notice to the other terminate this Agreement as to such Product and Quotation, and if so terminated, Buyer will not owe Seller any amounts for the pilot wafers
involved unless (1) otherwise provided in the Quotation, or (2) the noncompliance was attributable to Buyer. 

  

 2 
  
  

	2.2	Engineering Change Notices (“ECNs”) 

  

	2.2.1	Buyer ECNs. After initial qualification, Buyer shall have the right to make such changes as it deems appropriate to the design of Products to be fabricated for it by Seller,
provided however that each such change must be timely documented by Buyer through written change notices. Notwithstanding anything to the contrary, after process qualification runs for a particular design have been made and approved by Seller and
Buyer, any Buyer-requested changes to design, process or materials for such Products shall be subject to Seller’s consent (which will not be unreasonably withheld) and payment by Buyer of applicable reasonable costs, if any, related to such
change. 

  

	2.2.2	Seller ECNs. For changes that Seller desires to make, the following procedure shall apply: 

  

	2.2.2.1	Mandatory Changes. Seller may at any time make changes in the processes used to manufacture Products when required for purposes of safety and/or compliance with applicable
law or regulations, provided that Seller shall provide prompt written notice of such changes to Buyer. 

  

	2.2.2.2	Proposed Changes. 

  

	2.2.2.2.1	For changes to processes other than those described under subsection 2.2.2.1 above, including but not limited to process obsolescence, Seller shall follow the procedures, including
but not limited to the notification requirements, stated in the then-current revision of the Process Change Notification (PCN) Procedure, Spec. No. GG-Q00-002, and shall issue a Proposed Change Notification if required by such Spec.

  

	2.2.2.2.2	Such Proposed Change Notification shall describe the nature of the proposed change(s), including reasons for the change(s), the anticipated schedule for implementation of the
change(s), and other relevant technical and logistic considerations, including without limitation quality and reliability data to the extent available. 

  

	2.2.2.2.3	Buyer shall approve or disapprove any such proposed change promptly, but in no event may any such change be disapproved later than ten (10) business days after receipt of the
Proposed Change Notification. 

  

	2.2.2.2.4	If Buyer disapproves such proposed change within the ten business day period allowed, Seller shall continue to manufacture and deliver to Buyer unchanged Products in accordance with
the applicable Agreements for a minimum of six 

  

 3 
  
  

	  	(6) months from the date Seller issues the Proposed Change Notification or until Buyer’s approval is received, whichever comes first. If Buyer’s disapproval results solely
from Buyer’s inability to timely assess the effect of the change proposed in the Proposed Change Notification, Buyer shall continue, following issuance of disapproval, to devote reasonable efforts to such assessment, and shall approve the
proposed change as soon as Buyer has determined that such change will not adversely affect Products. 

  

	2.2.2.2.5	Upon the expiration of three months after the following Proposed Change Notification, if Buyer disapproves the Proposed Change Notification, Seller, in its discretion and by then
giving a minimum of three months prior written notice to the Buyer, may stop manufacture and delivery of all Products involved without liability. 

  

	2.2.3	Change Verification. In connection with a Seller-initiated change, no additional quality assurance requirements or measurements (whether cv plots, metal step coverage
analysis, SEM analysis, or other) will be required except upon Seller’s written agreement as to the step or measurement to be performed, and Buyer’s written commitment to pay Seller’s stated costs. 

  

	2.3	Production Runs, Pilot Runs, etc. Exhibit B sets forth additional terms applicable to Engineering/Pilot Runs and Production Runs. 

  

	3	ORDER, DELIVERY, PRICING AND PAYMENT TERMS 

  

	3.1	Forecasts 

  

	3.1.1	During the first seven calendar days of each calendar month, Buyer will provide to Seller by facsimile or other electronic communication a written rolling forecast of its
requirements for wafer-outs from Seller’s facilities for the next six full calendar months (with the first month of such forecast being the second calendar month following the month during which the forecast is received) (each a “Buyer
Forecast”). By way of illustration, a Buyer Forecast provided on January 7 would forecast Buyer’s needs for wafer-outs during the period March 1 through August 31. 

  

	3.1.1.1	Each such Buyer Forecast shall show the quantity of wafer outs and the specific technology and/or process for the wafers listed, i.e., at a minimum, Logic, Mix-mode, SRAM,
etc.; feature size (in microns); number of poly layers; number of metal layers; and metal type (collectively, “Technology”). 

  

	3.1.1.2	Buyer shall make good faith efforts to ensure that all such Buyer Forecasts are reasonable estimates of its anticipated needs. 

  

 4 
  
  

 CONFIDENTIAL TREATMENT HAS BEEN REQUESTED AND CONFIDENTIAL TERMS HAVE BEEN OMITTED 
  

	3.1.1.3	Notwithstanding anything else, each Buyer Forecast shall constitute a commitment by the Buyer to purchase a minimum of the following percentages of the amounts indicated in such
Buyer Forecast (by Technology) to the extent such Buyer Forecast is accepted by Seller: 

  

									
	 Month in the forecast

	 	 First month

	 	 Second month of
 forecast

	 	 Third month
 of forecast

	 	 Fourth and
 later months
 of forecast

	Minimum percentage commitment for amounts forecast for that month	 	***%	 	**% (when volumes are averaging less than *** wafers/month or ***% (when volumes are averaging *** wafers/month or more)	 	***% (when volumes are averaging less than *** wafers/month) or ***% (when volumes are averaging *** wafers/month or more)	 	Reference only

  

	3.1.1.4	Seller will provide a written response to each Buyer forecast within ten business days of Seller’s receipt. Subject to Section 3.1.2 below and the other terms set forth in this
Agreement, Seller’s response shall accept the quantities in the applicable months to the extent they are less than or equal to those accepted by Seller for the applicable month(s) pursuant to prior written agreement and/or prior responses to
Buyer Forecasts. Seller’s response may accept and/or reject in whole or in part any additional forecast quantities for those months. To the extent that Seller accepts a Buyer Forecast, Seller commits to sell the accepted quantities, subject to
adjustments to be made in response to subsequent Buyer Forecasts consistent with this Agreement. Seller shall have no obligation to sell Products to Buyer except pursuant to Purchase Orders issued pursuant to accepted Buyer Forecasts.

  

	3.1.2	To the extent that any forecast from Buyer pursuant to Section 3.1.1 above fails to forecast the full capacity or quantity if any, allocated or promised to Buyer in response to a
prior Buyer Forecast: (i) Seller shall be entitled in its sole and complete discretion to enter commitments with others for such unexercised capacity for the applicable months and in the amounts not so exercised, and (ii) Buyer will not have any
right to require Seller to provide that unexercised capacity to Buyer in the month(s) involved. 

  

 5 
  
  

	3.1.3	Orders And Production Release. Buyer shall issue purchase orders by the 15th day of each calendar month or three (3) business days after Seller’s response to the applicable Buyer Forecast, whichever occurs later, for wafer outs during the calendar month two months hence.
By way of illustration, a purchase order is due by January 15th for wafer outs scheduled for March. Seller shall
have no liability as to any commitments by Seller with respect to wafer outs as to which a purchase order is not timely received. Notwithstanding Buyer’s failure to timely issue a purchase order, Buyer is committed with respect to quantities to
which Buyer has committed in a Buyer Forecast to the extent such amounts have been accepted by Seller. No order for production quantities of a Product shall be placed by Buyer unless and until Buyer has approved the pilot runs or prototypes for
the Product. If Buyer properly places a purchase order for production quantities of a Product, Seller may deem such an order as written production release approval for such Product. All purchase orders shall be in writing. Seller shall acknowledge
in writing, within three (3) business days of receipt of a purchase order, either the acceptance of the order, or the reason such order cannot be accepted, or if Seller wishes to modify such order If Seller does not provide such acknowledgement
within the time provided, Buyer shall contact Seller to determine the cause for the lack of acknowledgment. Other than variances in quantities ordered, no acceptance of a purchase order shall constitute acceptance of any terms at variance with this
Agreement and/or previously accepted forecasts, and purchase orders shall be null and void as to those variances. 

  

 6 
  
  

	3.2	Cancellation and Modifications to Orders. 

  

	3.2.1	Cancellations and Modifications. Unless wafer processing has started, or Seller has incurred engineering or tooling charges, Buyer may cancel or modify a purchase order
without penalty by delivering to Seller a written notice of cancellation or modification within three (3) days of Seller’s receipt of the original purchase order involved; provided however that no such cancellation will relieve Buyer of any
obligations under any other applicable provisions or agreements including without limitation any obligation to comply with loading commitments, Buyer Forecasts (to the extent accepted) and/or purchase orders. Until wafer processing has started,
Buyer may request changes to the product mix within any particular Technology, and Seller shall exert its best efforts to meet such requests. Buyer may at any time request that the scheduled wafer out date for any wafer(s) be accelerated or delayed,
and such requests shall be considered on a case by case basis, with the understanding that Seller shall make reasonable efforts to accommodate such requests, but shall not be obligated to do so. 

  

	3.2.2	No Cancellations. Except as provided in Section 3.2.1 with respect to wafers which have not been started, or in Section 4.4 with respect to wafers which have been started,
cancellation of purchase orders is not permitted. 

  

	3.2.3	Partially Completed / Defective Products. In the event wafers are determined to not meet the Acceptance Criteria prior to shipment to Buyer, or wafers are returned to Seller
because they have failed to meet the Acceptance Criteria, Seller shall retain ownership, subject to Buyer’s intellectual property rights and Seller’s obligations of confidentiality, of the partially completed or defective wafers, and may
destroy such wafers, or permit Manufacturer to use them for internal manufacturing-process testing and evaluation purposes. 

  

	3.3	Delivery. 

  

	3.3.1	Delivery will be made FCA (Incoterms 2000), Manufacturer’s plant, to a carrier designated in writing by Buyer or, if Buyer fails to designate a carrier, to a carrier designated
by Seller. 

  

	3.3.2	All wafer-out dates are subject to timely receipt by Seller of fully-approved mask sets and fully-completed purchase orders. 

  

	3.3.3	Seller’s acceptance of a purchase order shall constitute Seller’s commitment to the wafer start date calculated from the scheduled wafer out date and the agreed upon lead
and manufacturing cycle time. Seller shall make diligent efforts to achieve on-time wafer-outs. Seller will promptly notify Buyer of any anticipated delay and pay for express delivery expenses applicable to delayed shipment of Products from Seller.
Subject to these commitments, SELLER SHALL NOT BE LIABLE 

  

 7 
  
  

 CONFIDENTIAL TREATMENT HAS BEEN REQUESTED AND CONFIDENTIAL TERMS HAVE BEEN OMITTED 
  

	  	FOR ANY DELAYS OR FAILURES TO MEET SCHEDULED OR REQUESTED WAFER OUT DATES. 

  

	3.3.4	Notwithstanding anything to the contrary, in the event of any delays and/or any breach of any written warranty, and without limiting Buyer’s rights and remedies otherwise
available under this Agreement, Buyer may give prompt written notice to Seller, adjusting forecasted and/or ordered amounts, and/or canceling orders for affected Products, to the extent necessary as a result of any impact of such delay on
Buyer’s need for such Products. 

  

	3.4	Pricing. 

  

	3.4.1	Unless otherwise agreed in writing, Pricing will be exclusively as stated in Seller’s written Quotation for the Products involved. 

  

	3.4.2	Unless stated to the contrary in a written Quotation from Seller, prices quoted are good for products ordered pursuant to such quotation and to be delivered within six months of the
date of such quotation. Subject to applicable written quotations, all prices are subject to change at any time. 

  

	3.4.3	Any tax or related charge which Seller shall be required to pay to or collect for any government upon or with respect to services rendered or the sale, use or delivery of the
Product or other materials (except for taxes based on Seller’s income) shall be billed to the Buyer as a separate item and paid by Buyer, unless a valid exemption certificate is furnished by Buyer to Seller. 

  

	3.5	Payment 

  

	3.5.1	Unless otherwise agreed or stated in Seller’s quotation, full payment shall be made in U.S. Dollars (unless stated otherwise in the applicable Quotation or as otherwise agreed
in writing) within ** days of Seller’s tender for delivery. 

  

	3.5.2	Seller reserves the right to change credit terms in the event Buyer fails to timely pay for Products or in the event Buyer’s financial situation materially and adversely
changes. With respect to payment obligations incurred by Pixelplus Semiconductor, Inc., and Pixelplus Shanghai Co., Limited, Pixelplus guarantees payment by such subsidiaries. 

  

	3.5.3	Regardless of anything to the contrary, Buyer understands that Seller generally needs to start more than the numbers of wafers ordered by Buyer in order to guarantee the quantities
of wafers so ordered which will yield within the agreed specifications. Accordingly, Buyer will accept quantity variations (and pay according to the agreed pricing) up to as much as five percent (5%) above the quantities stated in Buyer’s
purchase order(s). 

  

 8 
  
  

	4	RELIABILITY & QUALITY 

  

	4.1	Quality Data. Seller will provide, upon Buyer’s written request during the term of their foundry relationship, Seller’s available reliability and quality data
regarding Products produced for Buyer for the purpose of maintaining consistent quality and reliability standards for such Products. 

  

	4.2	Traceability. During the term of the foundry relationship, Seller shall maintain fab and test lot traceability for Products sold to Buyer. 

  

	4.3	Notification of Defects. Seller will promptly after discovery advise Buyer of defects and/or non-conformity in Products already shipped to and/or in lots currently in
manufacture for Buyer. 

  

	4.4	Production Halts Requested by Buyer. 

  

	4.4.1	Upon receipt of Buyer’s written Stop Request, Seller will immediately stop shipment and manufacturing of Products which are subject to a suspected failure to meet the criteria
specified in such Products’ Acceptance Criteria. If Seller is responsible for such failure, and for as long as Seller is not able to correct the matter, then (i) Buyer may reject non-conforming Products, and, (ii) Buyer may, without penalty
(including loss of capacity), cancel any then-pending purchase order(s) for such Products. Such a notice of cancellation shall be effective on receipt by Seller. 

  

	4.4.2	If Buyer requests Seller to stop shipment pursuant to Section 4.4.1 of any Products which Buyer is obligated to purchase, and the Products have been processed in accordance with the
applicable written requirements, Buyer shall pay cancellation fees as described in Exhibit D hereto. 

  

	4.5	Failure Analysis. Upon written request from Buyer, Seller will perform failure analysis of Products returned to Seller with a Seller-issued Return Material Authorization
number. If such analysis shows the existence of material defects in breach of applicable Seller warranties, Seller will not be entitled to payment for the cost of Seller’s failure analysis concerning such defects for the specific Products which
were subject to them. In the event that Buyer repeatedly requests that Seller perform failure analysis for Products which prove to have no material defect in breach of applicable Seller warranties, Seller reserves the right to condition further
failure analysis activities upon satisfactory arrangements for payment to Seller for the reasonable costs involved. 

  

 9 
  
  

 CONFIDENTIAL TREATMENT HAS BEEN REQUESTED AND CONFIDENTIAL TERMS HAVE BEEN OMITTED 
  

	4.6	Return Material Authorization (RMA). Buyer will not make any returns to Seller without first obtaining a written Return Material Authorization (RMA) number, which shall be
promptly issued by Seller upon request by Buyer. All Products for which refund and/or replacement is sought and all returns shall be marked with a Return Material Authorization number issued by Seller to enable tracking. Buyer agrees to pay Seller
the full purchase price in connection with any returned wafers or Products which Seller determines were within Seller’s specifications at the time of initial delivery to the carrier or at the time of return to Seller. Generally, Seller will
analyze authorized returns within four (4) working weeks of receipt by Seller, and promptly thereafter report on the results. Buyer agrees to cooperate in good faith with Seller to resolve any problems that may arise and to promptly send Seller the
results of all tests and analyses concerning Products. 

  

	5	WARRANTY 

  

	5.1	Limited Warranty. Seller warrants for a period of *** from delivery that Products delivered after initial qualification shall be processed (i) using the masks (or duplicates
of them) which were used for qualification and (ii) in compliance with the applicable Wafer Acceptance Criteria. 

  

	5.2	Exclusions. 

  

	5.2.1	Products which have been subject (other than by Seller or Seller’s subcontractors) to abuse, misuse, accident, alteration, neglect, conditions outside specification,
unauthorized repair or improper application are not covered by any warranty. 

  

	5.2.2	Seller shall not be responsible for defects or claims caused by acts not performed by Seller or Seller’s subcontractors; or by design or application; or by combination of
Products with other things. 

  

	5.2.3	Products are not intended for use in, and no warranty is made with respect to hazardous applications (including, without limitation, navigation, weaponry, aviation or nuclear
equipment, or for surgical implant or to support or sustain life) and Buyer will indemnify, defend, and hold harmless Seller from all claims, damages and liabilities arising out of any such matters; provided that Seller: (a) provides Buyer with
prompt notice of the claim, (b) allows Buyer to control the defense and any settlement of the claim, and (c) provides cooperation as reasonably requested by Buyer. 

  

	5.3	Remedy. To the extent that any Products fail to meet the applicable warranties and/or requirements due to reasons for which Seller is responsible, Seller shall either
promptly (i) replace such Products without charge, or (ii) refund the payments made to Seller for such Products, all within sixty (60) calendar days of Seller’s receipt of written notice from Buyer of such non-conformity. The parties will
discuss in good faith which of these two remedies is the most appropriate; 

  

 10 
  
  

	  	provided however that Buyer shall not be required to accept replacement Products if Buyer no longer has a need for such Products; and Seller shall not be required to manufacture
Products utilizing a process which has been discontinued by Seller. 

  

	5.4	Sole Warranty. This Section 5 is the only warranty by or on behalf of Seller and may not be modified or amended except in writing signed by an Officer of Seller and by Buyer.
Buyer is not relying upon any warranty or representation except for those specifically stated here or in such a signed writing. 

  

	5.5	No Reliance. Buyer is not relying on any statements or information in Seller’s literature, and Buyer will test all parts and applications under extended field and
laboratory conditions as appropriate. Notwithstanding any cross-reference or statements of compatibility, functionality, interchangeability, and the like, Seller-made goods, embedded devices and processes may differ from similar goods, devices and
processes from other vendors in performance, function or operation, or as to matters, ranges and conditions not stated in and/or outside Seller’s written specifications; and Buyer agrees that Seller makes no warranties and is not responsible
for such things. To the extent that Buyer obtains reusable IP from a vendor to which Buyer is referred by Seller, Buyer acknowledges that such referrals are made for Buyer’s convenience, and that Seller is not liable for the performance of such
IP or the performance of such vendors. In particular, all reusable IP, including that listed in Seller’s Intellectual Property Catalog, and including but not limited to blocks, libraries, tools, and documentation therefor, is licensed to Buyer
by the individual IP vendors and not by Seller, and in any event Seller makes no warranty in connection with such IP. Buyer is not relying on any statements or information provided by Seller in connection with such IP, and Buyer will fully verify
all IP as appropriate and be responsible to ensure that such IP is compatible and suitable for Buyer’s intended purpose and applications. 

  

	5.6	Disclaimer. EXCEPT AS PROVIDED ABOVE, SELLER MAKES NO WARRANTIES OR CONDITIONS, EXPRESS, IMPLIED, OR STATUTORY, AND EXPRESSLY EXCLUDES AND DISCLAIMS ANY WARRANTY OR CONDITION
OF MERCHANTABILITY, NONINFRINGEMENT, OR FITNESS FOR A PARTICULAR PURPOSE OR APPLICATION. 

  

	6	LIMITATION OF LIABILITY 

  

	6.1	Force Majeure. If any party is rendered wholly or partially unable by Force Majeure to carry out its obligations under this Agreement (with the exception of payment
obligations), and if that party gives prompt notice and full particulars of such Force Majeure to the other party, the notifying party shall be excused from performance of its obligations hereunder during the continuance of any inability so caused,
but for no longer period. Such cause shall be remedied by the notifying party as far as possible with reasonable speed and effort, but such party shall have no obligation to 

  

 11 
  
  

 CONFIDENTIAL TREATMENT HAS BEEN REQUESTED AND CONFIDENTIAL TERMS HAVE BEEN OMITTED 
  
 settle any labor dispute. In the event that the notifying party ceases to
diligently attempt to remedy the Force Majeure situation and resume satisfactory performance (provided that the Force Majeure is of such a nature that the nonperforming party can reasonably influence or remedy), the other party may at its option
immediately terminate this Agreement. In the event that the Force Majeure situation prevents a party from carrying out its material obligations under this Agreement for a period exceeding ninety (90) days, then provided that such party continues to
make all the payments required hereunder, the other party shall have no right to terminate this Agreement, provided that in the event that a Force Majeure situation or a series of Force Majeure situations extends for a cumulative total of more than
ninety (90) days, then any party may terminate this Agreement. For the purposes of this Agreement, Force Majeure shall mean Acts of God, labor unrest or trouble, acts of public enemies or terrorists, wars, other military conflicts, blockades,
insurrections, riots, epidemics, quarantine restrictions, landslides, lightning, earthquake, floods, washouts, other natural catastrophes, civil disturbances or restraints by or actions of any governmental body (including export or security
restrictions on information, material, personnel, equipment or otherwise). 
  

	6.2	Limitation of Liability. 

  

	6.2.1	EXCEPT FOR OBLIGATIONS TO ***, AS TO WHICH EACH PARTY’S LIABILITY SHALL BE LIMITED TO THE GREATER OF ***; AND EXCEPT WITH RESPECT TO A PARTY’S BREACH OF ***, EACH
PARTY’S LIABILITY ARISING OUT OF ANY QUOTATION, THIS AGREEMENT, ANY BREACH THEREOF, OR ANY PRODUCTS OR SERVICES WILL BE LIMITED TO THE PURCHASE PRICE OR REPLACEMENT OF PURCHASED PRODUCTS (RETURNED TO SELLER FREIGHT PREPAID); OR IN THE EVENT OF
A FAILURE OR BREACH BY SELLER REGARDING DELIVERY, OR A FAILURE OR BREACH BY BUYER TO FULFILL BUYER’S PURCHASE COMMITMENTS, AN AMOUNT EQUAL TO THE TOTAL PURCHASE PRICE WHICH WOULD HAVE BEEN APPLICABLE TO THE PRODUCTS THAT HAVE NOT BEEN DELIVERED
OR PURCHASED DUE TO SUCH FAILURE. 

  

	6.2.2	AS A SEPARATE LIMITATION, IN NO EVENT WILL EITHER PARTY BE LIABLE ***. 

  

 12 
  
  

 CONFIDENTIAL TREATMENT HAS BEEN REQUESTED AND CONFIDENTIAL TERMS HAVE BEEN OMITTED 
  
 THESE LIMITATIONS SHALL APPLY NOTWITHSTANDING ANY FAILURE OF ESSENTIAL
PURPOSE OR OF ANY FAILURE OR INADEQUACY OF ANY REMEDY. THIS AGREEMENT STATES THE ONLY AND EXCLUSIVE REMEDY FOR ANY AND ALL CLAIMS MADE AGAINST SELLER UNDER THIS AGREEMENT AND/OR WITH RESPECT TO WAFERS, SERVICES AND/OR PRODUCTS PROVIDED PURSUANT TO
THIS AGREEMENT. 
  

	6.3	Commencement of Actions or Proceedings. No claim may be brought unless the non-claiming party has first been given commercially reasonable notice, a full written explanation
of all pertinent details (including copies of all materials), and a good faith opportunity to resolve the matter. 

  

	6.4	Liability for Tangible Buyer Property. REGARDLESS OF CAUSE OR REASON FOR DAMAGE (WHETHER ACCIDENT, NEGLIGENCE, OR OTHERWISE) SELLER SHALL HAVE NO LIABILITY (DIRECT,
CONSEQUENTIAL OR OTHER) FOR, IN CONNECTION WITH OR ARISING FROM TANGIBLE PROPERTY FURNISHED FOR USE AT OR LEFT AT SELLER; and by delivering or entrusting property to Seller, Buyer expressly confirms this limitation. Notwithstanding this limitation,
Seller will replace, or pay the reasonable retooling costs to replace, such tangible property damaged or destroyed as a result of Seller’s negligence or fault. Upon written request sent to the billing address listed on Buyer’s latest-dated
purchase order, Buyer will promptly take possession of any and all property of Buyer, and should Buyer fail to do so within thirty days of such request, Seller may destroy or reclaim such property without liability. 

  

	7	INDEMNIFICATION & COOPERATION 

  

	7.1	Indemnification by Seller. Seller will defend and/or settle all suits against Buyer, and pay any final judgment rendered against Buyer, to the extent based on any claim that
any processes (as performed by Seller with respect to Products) infringe any *** patent, copyright, trade secret or trademark; provided, however, that Buyer (i) gives immediate written notice to Seller, (ii) permits Seller to defend, and (iii) gives
Seller all needed information, assistance, and authority. 

  

	7.2	Exclusions. Seller will not be responsible for infringements resulting from anything not ***, or from any combination with ***, or for any claim due in whole or in part to
any ***. 

  

	7.3	THIS ARTICLE 7 STATES SELLER’S ENTIRE LIABILITY AND OBLIGATION WITH RESPECT TO INTELLECTUAL PROPERTY INFRINGEMENT OR 

  

 13 
  
  

 CLAIMS THEREFOR AND IS EXPRESSLY SUBJECT TO ARTICLE 6. Except as to claims Seller is obligated to defend
and/or resulting from Seller’s wrongdoing and/or negligence, BUYER WILL INDEMNIFY, DEFEND AND HOLD HARMLESS SELLER FROM ALL CLAIMS, COSTS, LOSSES, AND DAMAGES (INCLUDING REASONABLE ATTORNEYS’ FEES) ARISING OUT OF ANY THIRD PARTY CLAIMS
BASED ON THE PRODUCTS, PROVIDED THAT SELLER (I) GIVES IMMEDIATE NOTICE TO BUYER, (II) PERMITS BUYER TO DEFEND, AND (III) GIVES BUYER ALL NEEDED INFORMATION, ASSISTANCE, AND AUTHORITY. 
  

	7.4	Buyer Indemnity. Buyer will defend and/or settle all suits against Seller, and pay any final judgment rendered against Seller, to the extent based on any claim that
production of Products pursuant to Buyer’s specifications and/or designs infringe, misappropriate or violate any applicable copyright, trademark, patent, trade secret, mask work, or other rights of third parties by virtue of such designs or
specifications provided, however, that Seller (i) gives immediate written notice to Buyer, (ii) permits Buyer to defend, and (iii) gives Buyer all needed information, assistance, and authority. 

  

	7.5	Cooperation. Seller and Buyer will cooperate in connection with any issue raised with respect to intellectual property rights of third parties relating to Products and/or to
services under this Agreement. In the event either party becomes party to any intellectual property infringement or misappropriation action or dispute which affects the production of Products, the other (the “Concerned Party”) may, at its
sole option, terminate and/or suspend ordering or production, as the case may be, provided however that prior to taking such action, the Concerned Party will provide the other a commercially reasonable opportunity to address and/or offset the risks
and costs which the Concerned Party reasonably believes may be borne by the Concerned Party as a result of the Concerned Party’s forbearance from such termination or suspension. 

  

	8	CONFIDENTIALITY 

  

	8.1	NDA. The terms of the Reciprocal Non-Disclosure Agreement, attached hereto as Exhibit C, are expressly incorporated herein. 

  

	8.2	Buyer’s Masks and Databases. Seller will treat any and all masks and design databases provided by Buyer as confidential, whether or not they are marked as required by
Exhibit C. 

  

	8.3	Process Technology. Regardless of anything to the contrary, all processes, recipes, and manufacturing, fabrication, assembly and test techniques, and related improvements
(“process technology”) provided and/or developed by or on behalf of Seller or Manufacturer shall be wholly owned by and the property of Seller and 

  

 14 
  
  

 Manufacturer, and Seller and Manufacturer shall not be limited or restricted by this Agreement with
respect to any process technology unless clearly stated to the contrary in a writing signed by an Officer of Manufacturer identifying the specific information in precise detail. 
  

	9	TERMINATION & RELATIONSHIPS 

  

	9.1	Term. The term of this Agreement shall be five (5) years from the Effective Date, provided however that either party may, without liability, terminate this Agreement at any
time by providing the other party with written notice of termination one (1) year in advance of such termination. 

  

	9.2	Termination For Insolvency or Bankruptcy. Subject to Section 9.4 below, Buyer and/or Seller (collectively “the Parties”) shall have the right to terminate the
rights of the other Party under their applicable Agreements (and any other agreement concerning Products) by giving written notice of termination to that other Party at any time upon or after: 

  

	9.2.1	the filing by the other Party of a petition in bankruptcy or insolvency; 

  

	9.2.2	any adjudication that the other Party is bankrupt or insolvent; 

  

	9.2.3	the filing by the other Party of any petition or answer seeking reorganization, readjustment or arrangement of its business under any law relating to bankruptcy or insolvency;

  

	9.2.4	the appointment of a receiver for all or substantially all of the property of the other Party; 

  

	9.2.5	the making by the other Party of any assignment for the benefit of creditors; or, 

  

	9.2.6	the institution of any proceeding for the liquidation or winding up of the other Party’s business or for the termination of its corporate charter. 

  
 Notwithstanding anything to the contrary, no termination under Section 9.2 as to such other
Party shall affect the rights of the Party giving the notice of termination with respect to Products delivered and/or as to which production had begun prior to the effective date of termination. Termination pursuant to this Section 9.2 shall be
effective immediately upon personal delivery of the written notice, or in the case of airmail notice, five days after dispatch. 
  

 15 
  
  

	9.3	Termination for Breach. 

  

	9.3.1	Termination Events. If any party fails to perform or violates any material obligation under the applicable Agreements, effective upon thirty (30) days’ written notice to
the breaching party specifying such default (the “Default Notice”), the non-breaching party may terminate the applicable Agreement (and all related agreements concerning Products) as to its responsibilities and obligations, without
liability (subject to Sections 9.4 and 9.5 below), unless: 

  

	9.3.1.1	The breach specified in the Default Notice has been cured within the thirty (30) day period, or if the breach is disputed, the amount in dispute is placed in a reasonably secure
third party escrow account pending resolution of the dispute; or 

  

	9.3.1.2	The default reasonably requires more than (30) days to correct (specifically excluding any failure to pay money), and the defaulting party has begun substantial corrective action to
remedy the default within such thirty (30) day period and diligently pursues such action, in which event, termination shall not be effective unless sixty (60) days has expired from the date of the defaulting party’s receipt of the Default
Notice without such corrective action being completed and the default remedied. 

  

	9.4	Effect of Termination. 

  

	9.4.1	Termination by Buyer. If Buyer terminates the applicable Agreements for any reasons stated in Sections 9.2 and/or 9.3 above, Seller will, if so requested in writing by Buyer:
(i) cease all production required by Buyer’s then outstanding purchase orders under the Agreements; and (ii) otherwise complete and deliver all Products pursuant to Buyer’s then outstanding and accepted purchase orders and invoice Buyer
for the Products. 

  

	9.4.2	Termination by Seller. If Seller terminates this Agreement as to Buyer for Buyer’s breach pursuant to Sections 9.2 and/or 9.3 above, in addition to and without waiving
any other remedy, Seller shall be entitled to payment in full upon delivery of all completed Products manufactured on behalf of Buyer, as well as to reimbursement for all reasonable direct costs incurred for up to one month’s work then in
progress for Buyer. 

  

	9.5	Survival. 

  

	9.5.1	All obligations to pay monies which accrue prior to termination and/or expiration, and the provisions of the Reciprocal Non Disclosure Agreement attached as Exhibit C, as well as
all other obligations of confidentiality, all limitations on warranties and remedies, all obligations with respect to indemnification and cooperation, contribution, dispute resolution, and termination shall survive the expiration and/or termination
of the applicable Agreements and/or of any purchase order or understanding concerning Products. 

  

 16 
  
  

	9.5.2	The exclusions and limitations of Sections 5, 6 and 7 will survive the termination of the applicable Agreements, and shall apply notwithstanding any claim of a failure of any one or
more remedies to accomplish their purpose. THE PARTIES EXPRESSLY WAIVE AND RELINQUISH ANY CONTRARY RIGHTS UNDER ANY AGREEMENT, AND/OR LAW, DECISION, CUSTOM OR PRACTICE. 

  

	9.6	Publicity Concerning Relationship 

  

	    	The parties will cooperate to draft and issue within 30 days of execution of this Agreement a press release publicizing the fact of the relationship formed by this Agreement and
such nonconfidential details as the parties agree in writing are suitable for publication. 

  

	10	DISPUTE RESOLUTION 

  

	10.1	Management Resolution. Within thirty days of a written demand to meet to resolve such one or more disputes arising out of and/or relating to any Agreement and/or Products,
senior management with the authority to negotiate and resolve the issues shall meet in Taiwan or in some other mutually agreeable location to discuss the issues, and, from time to time during the forty-five day period following such demand (or
longer if agreeable to the Parties), such management will negotiate and attempt to resolve the issues as reasonably requested by any party involved. 

  

	10.2	Arbitration. 

  

	10.2.1	Any such disputes relating to and/or arising out of any Agreement and/or Products which cannot be so resolved will be decided exclusively by binding arbitration under procedures
which ensure efficient and speedy resolution. Such an arbitration may be commenced by Seller and/or Buyer (i) after the expiration of the forty-five day period following the written demand to meet to resolve the dispute pursuant to Section 10.1
above, and/or (ii) at such earlier time as any Party involved repudiates and/or refuses to continue with its obligations to negotiate in good faith. 

  

	10.2.2	The arbitration hearing will be before a panel of three neutral, independent arbitrators. The arbitration hearing will be conducted in Santa Clara County, California or in some
other mutually agreeable location, and will be in the English language (with translations and interpretations as reasonable for the presentation of evidence and/or conduct of the arbitration). 

  

 17 
  
  

	10.2.3	The arbitration will be conducted under the International Rules of the American Arbitration Association. Notwithstanding anything to the contrary: 

  

	10.2.3.1	the arbitrators will have no power to order discovery; 

  

	10.2.3.2	the arbitrators will follow such procedures and enter such orders and conduct the hearing under conditions which ensure at least the same degree of confidentiality for each party as
provided by Seller’s Standard Non-Disclosure Agreement, and which adequately protect the participants from disclosure of highly sensitive information to anyone other than the arbitrators and lawyers (or comparable legal representatives) and
reasonably necessary expert witnesses and not to persons employed by one or more of the parties nor to competitors of them, and 

  

	10.2.3.3	the arbitrators shall require pre-hearing exchange of documentary evidence to be relied upon by each of the respective parties in their respective cases in chief, and pre-hearing
exchange of briefs, witness lists and summaries of expected testimony. 

  

	10.2.4	The arbitrators will make their decision in writing; and their decision will be binding upon the Parties and it may be entered by any court having jurisdiction.

  

	10.3	Injunctive Relief. Notwithstanding anything to the contrary, any party may apply to any court of competent jurisdiction for interim injunctive relief with respect to
irreparable harm which cannot be avoided and/or compensated by such arbitration proceedings, without breach of this Section 10 and without any abridgment of the powers of the arbitrators. 

  

	10.4	Governing Law. This Agreement and all foundry arrangements involving Seller and all performance and disputes arising out of and/or relating to such matters and/or any
Products involved will be governed by the laws of California and the United States of America, without reference to conflicts of laws principles, and/or any contrary provision, including without limitation, the U.N. Convention on Contracts for the
International Sale of Goods. 

  

	11	GENERAL 

  

	11.1	Non-Exclusive Relationship. Except as stated in a separate written agreement signed by Officers of Seller and of Buyer, nothing in the Agreements shall prohibit Buyer from
purchasing goods and/or foundry services from other suppliers, nor prohibit Seller from offering wafers and/or foundry services to others or from offering products or services on its own behalf. 

  

	11.2	No Agency or Partnership. Nothing in the Agreements shall be deemed to create a general or limited partnership or an agency relationship between Buyer and/or Seller, and
Buyer and Seller are independent companies. Buyers will purchase products manufactured from Seller in an arm’s length vendor-purchaser relationship. No party shall be entitled to act on behalf of and/or to bind any one or more of the others.

  

 18 
  
  

	11.3	Compliance with Law. The parties will comply with all applicable restrictions and requirements of applicable law, including without limitation those relating to labor,
employment, environment, and export control. Buyer agrees at its sole expense to comply with all applicable laws in connection with the purchase, use or sale of the Products. 

  

	11.4	No Implied Licenses. Nothing contained in this Agreement is intended to or shall be construed as: 

  

	11.4.1	conferring any right to the other Party to use in advertising, publicity, or otherwise, any trademark, trade name or names of any Party, or any contraction, abbreviation or
simulation thereof; and/or 

  

	11.4.2	conferring by implication, estoppel or otherwise, upon any Party any license or other right under any class or type of copyright, maskwork, trademark, trade name, patent, utility
model or design patent except the licenses and rights expressly granted under a written agreement signed by the Parties, except that by ordering Products, Buyer extends to Seller and Manufacturer the right under all applicable Buyer intellectual
property to manufacture such Products for sale to Buyer and to sell such Products to Buyer. 

  

	11.5	Entire Agreement. This Agreement (including the attached exhibits) contains all material and essential terms of a binding agreement between the parties with respect to with
respect to foundry, fabrication, semiconductors, design support and goods, there are no other agreements concerning such subject matter. This Agreement is the entire agreement between the parties with respect to the stated subject matter; it
supersedes all prior understandings and agreements with respect to these matters, and there are no prior representations, warranties or other agreements relating thereto. This Agreement may not be modified, except in writing signed by Officers of
each party, and no addition, deletion or modification shall be binding on either party unless expressly agreed to in a writing signed by an Officer of such party. 

  

	11.6	Notices. All notices, payments, reports and other communications required or permitted hereunder shall be in writing and shall be mailed by first class, registered or
certified mail, postage prepaid, or otherwise delivered by hand, by messenger (including express mail courier services) or by facsimile, addressed to the addresses first set forth above or at such other address furnished with a notice in manner set
forth herein. Such notices shall be deemed to have been served when delivered or, if delivery is not accomplished by reason of some fault of the addressee, when tendered. Notices shall be addressed as follows: 

  

			
	If to Seller:	  	President
	 	  	United Microelectronics Corporation
	 	  	No. 3, Li-Hsin Rd.
	 	  	Science-Based Industrial Park
	 	  	Hsin-Chu City, Taiwan 30077, ROC

  

 19 
  
  

			
	 	  	Copy to:
	 	  	Law+
	 	  	993 Highlands Circle
	 	  	Los Altos, CA 94024
	 	  	Attn: Peter Courture, Esq.
	 	  	Fax: (650) 968-8885
		
	If to Buyer:	  	 
		
	 	  	Pixelplus Co., Ltd.
	 	  	5th Floor, Intellige 1, KINS Tower
	 	  	25-1 Jeongja-dong, Bundang-gu, Seongnam-si
	 	  	Gyeonggi-do 463-811, Korea
	 	  	Attn: Chief Executive Officer
		
	 	  	Copy to:
	 	  	Pixelplus Semiconductor, Inc.
	 	  	3003 N. First St. #330
	 	  	San Jose, CA 95134
	 	  	Attn: President
	 	  	Fax: (408) 519-5746

  

	11.7	Assignment. Neither this Agreement nor any of the rights and obligations created hereunder may be assigned, transferred, pledged, or otherwise encumbered or disposed of, in
whole or in part, whether voluntarily or by operation of law or otherwise, by any party without the prior written consent of the other party. This Agreement shall inure to the benefit of and be binding upon the parties’ permitted successors and
assigns. 

  

	11.8	Captions and Section Headings. The captions and section and paragraph headings used in this Agreement are inserted for convenience only and shall not affect the meaning or
interpretation of this Agreement. 

  

	11.9	Partial Invalidity. If any paragraph, provision, or clause thereof in this Agreement shall be found or be held to be invalid or unenforceable in any jurisdiction in which
this Agreement is being performed, the remainder of this Agreement shall be valid and enforceable and the parties shall negotiate, in good faith, a substitute, valid and enforceable provision that most nearly reflects the parties’ intent in
entering into this Agreement. 

  

 20 
  
  

	11.10	Presumptions. In construing the terms of this Agreement, no presumption shall operate in either party’s favor as a result of its counsel’s role in drafting the
terms or provisions hereof. 

  

	11.11	Language. The English language shall govern the meaning and interpretation of this Agreement. 

  

	11.12	Waiver. The failure of either party to enforce at any time the provisions of this Agreement, or the failure to require at any time performance by the other party of any of
the provisions of this Agreement, shall in no way be construed to be a present or future waiver of such provisions, nor in any way affect the right of either party to enforce each and every such provision thereafter. The express waiver by either
party of any provision, condition or requirement of this Agreement shall not constitute a waiver of any future obligation to comply with such provision, condition or requirement. 

  

	11.13	Cumulative Remedies. The remedies under this Agreement shall be cumulative and not alternative and the election of one remedy for a breach shall not preclude pursuit of other
remedies unless as expressly provided in this Agreement. 

  

	11.14	Confidentiality of Agreement. Each party agrees that the terms and conditions of this Agreement and Quotations shall be treated as confidential information of both parties,
and that neither party will disclose the terms or conditions to any third party without the prior written consent of the other party, provided, however, that each party may disclose the terms and conditions of this Agreement, to the extent
necessary: 

  

	11.14.1	as required by any court or other governmental body; 

  

	11.14.2	as otherwise required by law; 

  

	11.14.3	to legal counsel of the parties, accountants, and other professional advisors; 

  

	11.14.4	in confidence, to banks, investors and other financing sources and their advisors; 

  

	11.14.5	in connection with the enforcement of this Agreement or rights under this Agreement; or 

  

	11.14.6	in confidence, in connection with an actual or prospective merger or acquisition or similar transaction. 

  

 21 
  
  

	11.15	Authority. Each party represents that all corporate action necessary for the authorization, execution and delivery of this Agreement by such party and the performance of its
obligations hereunder has been taken. 

  

	11.16	Counterparts. This Agreement may be executed in two (2) or more counterparts, all of which, taken together, shall be regarded as one and the same instrument.

  
 IN WITNESS WHEREOF, the parties have authorized
their undersigned representatives to sign this Agreement and to bind them to its terms and conditions in accordance with the foregoing. 
  

			
	Buyer:	 	Seller:
		
	 /s/ Seo Kyu Lee

	 	 /s/ Henry Liu

	Authorized Signature	 	Authorized Signature
		
	 Seo Kyu Lee

	 	 Henry Liu

	Printed Name	 	Printed Name
		
	 Chief Executive Officer and President

	 	 Vice President

	Title	 	Title
		
	 November 22, 2005

	 	 November 22, 2005

	Date	 	Date

  
  

 22 
  
  

 EXHIBIT A 
 QUOTATIONS 
  
  

 23 
  
  

 EXHIBIT B 
 PROCEDURES 
  
 ENGINEERING/PILOT RUNS

  
 For engineering lots, split and staged conditions will be as set by
written agreement with Seller, and no splits will be permitted without Seller’s written consent. 
  
 The minimum quantity of wafers for each split condition is two (2) wafers. 
  
 The minimum quantity for each pilot run is twelve (12) wafer starts. Regardless of anything to the contrary, Seller’s only obligation for pilot runs is that a minimum of six (6) out of twelve (12) wafer starts
shall be delivered. 
  
 PRODUCTION RUNS 
  
 Unless otherwise conspicuously stated in a purchase order accepted and signed by Seller, the
minimum quantity in any production lot shall be 25 wafers. 
  
  

 24 
  
  

 EXHIBIT C 
 RECIPROCAL NDA 
  
 

 
 Effective Date: October 29,
2004                                
  
 RECIPROCAL NON-DISCLOSURE AGREEMENT - foundry customers 
  
 To protect confidential information, United Microelectronics Corporation (“UMC”)
and 
 PIXELPLUS CO., LTD. (“Company”) agree: 
  
 1. The obligations imposed by this Reciprocal Non-Disclosure Agreement (“Agreement”) shall only apply to information designated as
“Confidential” at the time of disclosure (“Confidential Information”) as follows: 
  
         (a) Confidential Information must be marked or labeled clearly as “CONFIDENTIAL” or with a
similar legend sufficient to notify the receiving party that it is confidential (unless such information is disclosed orally or by demonstration or is otherwise strictly impossible to mark); 
  
         (b) Confidential Information
that is impossible to mark must be clearly identified as confidential at the time of disclosure, and summarized in reasonable detail and designated as confidential in a writing delivered to the receiving party within thirty (30) days of first
disclosure. 
  
 2. Each party agrees that for a period of
five (5) years from the first disclosure pursuant to paragraph 1 above, and notwithstanding this Agreement’s termination, it will not disclose to any third party any Confidential Information received from the other party except as expressly
agreed upon in writing. No party will use or incorporate any Confidential Information received from the other party for any purpose whatsoever except solely for the evaluation and pursuit of amicable and mutually beneficial business relations
between the Company and UMC. Notwithstanding anything to the contrary, to the extent reasonably appropriate in connection with furthering such purpose, each receiving party may disclose the disclosing party’s Confidential Information (1)
between and among the receiving party and its affiliates (which, for purposes of this Agreement, are defined as being any entity at least 40% of which is owned or controlled, directly or indirectly, by the receiving party, or which owns or controls,
directly or indirectly, at least 40% of the receiving party), on the condition that such affiliates will be bound as party to this Agreement with the receiving party remaining responsible to ensure compliance by such affiliate; (2) as may be
appropriate for communication with the Company, UMC’s and its affiliates’ marketing and customer service offices; and (3) to vendors of IP/design support, mask-making and back-end services as requested by the Company, provided that such
vendors enter appropriate written nondisclosure agreements to protect Confidential Information. 
  
 3. Each party shall safeguard all things, documents, and work that embody Confidential Information of the other in areas reasonably restricting access and
preventing unauthorized use and/or disclosure. Each party will exercise at least the same degree of care as it uses to protect its own proprietary information, but no less than a reasonable degree of care, to prevent accidental or other loss of any
Confidential Information of the other. 
  
 4. The obligations of
this Agreement shall not apply to Confidential Information which the receiving party shows is: 
  
         (a) already in the possession of the receiving party at or before the time of disclosure hereunder as reasonably shown by evidence existing at the time of disclosure; or

  
         (b) publicly
known through no wrongful act of the receiving party (provided that Confidential Information becoming publicly known shall not excuse a prior breach); or 
  
         (c) lawfully received from a third party without obligation of confidence; or 
  
         (d) independently developed
by the receiving party or by persons not having access to the Confidential Information; or 
  
         (e) approved for release by written authorization of the disclosing party; or 
  
         (f) disclosed pursuant to the requirement or demand of a lawful governmental or judicial authority, but
only to the extent required by operation of law, regulation or court order. 
  
  
  
  
  
  
  
 5. This Agreement shall not expire, provided however that any party may terminate the applicability of this Agreement to then-future disclosures at any time on thirty days’ written notice to the other. Upon termination of this
Agreement, or upon written request, the receiving party shall at its option either promptly return to the disclosing party or certify the destruction of all documents and other tangible things reflecting Confidential Information of the disclosing
party, together with all copies, extracts, summaries and (except as agreed in writing) other material derived therefrom, except that each receiving party may retain Confidential Information of the other as reasonably necessary to comply with
applicable law or industry-standard quality certification programs (e.g., ISO900X). 
  
 6. Confidential Information shall remain the property of the disclosing party. Nothing in this Agreement (expressly or impliedly) grants any patent, copyright, trademark, mask work, trade secret or other property
right with respect to Confidential Information to the receiving party. The parties do not intend that any agency, joint venture or partnership relationship be created between them by this Agreement. 
  
 7. No party has an obligation under this Agreement to purchase any item or
service from the other or to offer products or processes using or incorporating Confidential Information. Nothing in this Agreement prohibits any party from, offering products/processes for sale, modifying products/processes, and/or discontinuing
products/processes, without using Confidential Information of the other. There is no obligation of confidentiality with respect to any information not designated as “Confidential” pursuant to this Agreement. 
  
 8. Notwithstanding anything to the contrary, nothing in this Agreement shall
limit or restrict any party from using and/or implementing in the ordinary course of its business any and all processes, recipes, and manufacturing, fabrication, assembly and test techniques, and related improvements (“process technology”)
provided, derived and/or developed in whole or in part by or on behalf of that party, and no party shall be limited or restricted by this Agreement with respect to any process technology unless clearly stated to the contrary in a writing signed by
an officer of the party to be limited or restricted identifying the specific information in precise detail. 
  
 9. This Agreement, if executed by the Company in the R.O.C., shall be governed by and construed under the laws of the R.O.C. (and if executed in Europe,
the laws of the Netherlands, and if executed elsewhere, the laws of California), without regard to conflicts of laws provisions. 
  
 10. Each party will advise the other in writing if any Confidential Information is subject to applicable export control laws, and upon such written
notice, the parties shall not export (or, knowingly, directly or indirectly effect any transfer of) any such identified information furnished by the other in violation of such export control laws (including without limitation to “Controlled
Countries” as identified by the applicable US Export Administration Regulations). UMC Confidential Information is subject to such laws. 
  
 11. There are no understandings, agreements, or representations, express or implied, regarding the parties’ obligations with respect to information
exchanged between them except as stated above. This Agreement may not be amended, modified or altered except by a writing signed by officers of both parties that makes specific reference to this Agreement and specifically states that it overrides
this Agreement. 
  

			
	UMC	 	COMPANY – PIXELPLUS CO., LTD.
		
	By:  /s/ LANCE
CHANG                                       
                         	 	By:  /s/ CHANG HYUN
RHO                                        
              
		
	Name/Title:  LANCE
CHANG                                       
                 	 	Name/Title:  CHANG HYUN
RHO                                        
     
		
	 	 	Executed in
(Country):  KOREA                                   
               

  

  

					
	 	 	25	 	 

  
  

 CONFIDENTIAL TREATMENT HAS BEEN REQUESTED AND CONFIDENTIAL TERMS HAVE BEEN OMITTED 
  
 EXHIBIT D 
 CANCELLATION FEES 
  

			
	 Time of Cancellation

	 	 Cancellation Fee

	Before gate photomask:	 	**% of purchase price
		
	After gate photomask to before metal 2 finished:	 	**% of purchase price
		
	After metal 2 finished:	 	***% of purchase price

  

 26Employment Agreement dated December 12, 2005

 EXHIBIT 10.1 
  
 EMPLOYMENT AGREEMENT 
  

EMPLOYMENT AGREEMENT (the “Agreement”) made as of the 12th day of December, 2005 by and between, Biolase Technology, Inc. (the
“Company”) and Richard L. Harrison (“Executive”). 
  
 WHEREAS, the Company and Executive wish to enter into a formal employment contract which will govern the terms and conditions applicable to Executive’s employment with the Company and will provide certain severance benefits for
Executive in exchange for the Executive’s agreement to abide by the terms and conditions set forth in this Agreement. 
  
 NOW, THEREFORE, the parties agree as follows: 
  
 PART ONE — TERMS AND CONDITIONS OF EMPLOYMENT 
  
 1. Duties and Responsibilities. 
  
 A. Executive shall serve as the Chief Financial Officer and Executive Vice President of the Company and shall in such capacity report directly to the
Company’s President and Chief Executive Officer. As Chief Financial Officer, Executive shall have primary responsibility for Finance, Accounting, Information Technology and Human Resources functional areas. 
  
 B. Executive agrees to devote his full time and attention to the Company, to
use his best efforts to advance the business and welfare of the Company, to render his services under this Agreement fully, faithfully, diligently, competently and to the best of his ability, and not to engage in any other employment activities
while employed by the Company. 
  
 2. Period of
Employment. Executive’s employment with the Company shall be governed by the provisions of this Agreement for the period commencing December 12, 2005 (“Date of Hire”), and continuing until this Agreement is terminated in
accordance with the provisions of Paragraph 10. The period during which Executive’s employment continues in effect shall be referenced as the “Employment Period.” 
  
 3. Cash Compensation. 
  
 A. Executive shall be paid a base salary at the annual rate of not less than two hundred and thirty thousand dollars
($230,000) per annum (hereinafter “Base Salary”) during the Employment Period. Executive’s Base Salary shall be paid at periodic intervals in accordance with the Company’s payroll practices for salaried employees. 
  
 B. The Company shall deduct and withhold from the compensation payable to
Executive, including but not limited to Executive’s Base Salary, any and all applicable Federal, State and local income and employment withholding taxes and any other amounts required to be deducted or withheld by the Company under applicable
statutes, regulations, ordinances or orders governing or requiring the withholding or deduction of amounts otherwise payable as compensation or wages to employees. 

 4. Bonus. Executive shall be eligible to earn an annual target bonus of one hundred
thousand dollars ($100,000) pursuant to the terms specified in this Paragraph 4 (the “Target Bonus”). Of the full Target Bonus, fifty thousand dollars ($50,000) shall be paid to Executive in quarterly installments of twelve thousand five
hundred dollars ($12,500). Executive shall be eligible to earn the remaining fifty thousand dollars ($50,000) of the Target Bonus based on achievement of objective or subjective criteria established by the Company’s Board of Directors (the
“Board”). 
  
 5. Equity Compensation. On
the Date of Hire, the Company shall grant Executive a non-qualified option to purchase two hundred and fifty thousand (250,000) shares of the Company’s common stock (the “Option Shares”). The Option Shares shall be granted
pursuant to the terms of the Company’s 2002 Stock Option Incentive Plan, as amended (the “Plan”). 
  
 A. Vesting of Option Shares. The Option Shares will be governed by a separate Stock Option Agreement and the Plan. The per share exercise
price of the Option Shares will be equal to the per share fair market value of the common stock on the date of grant, as determined by the Board. The Option Shares shall vest over a three (3) year period so long as Executive provides continuous
service to the Company in accordance with the Plan, with one third (1/3) of the Option Shares becoming vested upon Executive’s completion of twelve (12) months of continuous service measured from the Date of Hire and one eighth
(1/8) of the remaining Option Shares vesting upon the Executive’s completion of each additional quarterly period of employment thereafter, measured from the first anniversary of the Date of Hire. 
  
 B. Accelerated Vesting of Option Shares. Upon a Change of
Control, as defined in this Paragraph 5. B., each of Executive’s unvested Option Shares will become fully vested. “Change of Control” shall mean the (i) merger or consolidation in which securities possessing more than fifty
percent (50%) of the total combined voting power of the Company’s outstanding securities are transferred to a person or persons different from the persons holding those securities immediately prior to such transaction, or (ii) the
sale, transfer or other disposition of all or substantially all of the Company’s assets in complete liquidation or dissolution of the Company. 
  
 6. Fringe Benefits. 
  
 A. Executive shall, throughout the Employment Period, be eligible to participate in any and all group term life insurance plans, group health plans,
accidental death and dismemberment plans and short-term disability programs and other executive perquisites which are made available to the Company’s executives and for which Executive qualifies. 
  
 B. Executive shall earn and accrue vacation time during the Employment
Period in an amount of no less than four (4) weeks of vacation annually, subject to periodic review by the Company. Executive may accrue a maximum of one and one half (1 1/2) times) the annual vacation entitlement. Once this maximum has been reached, all further accruals will cease. Vacation accruals will recommence after Executive has taken
vacation and his accrued hours have dropped below the accrual maximum. Executive will not earn vacation during any unpaid leaves. Executive agrees that he shall take any accrued vacation he may have at such times as are mutually convenient to
Executive and the Company (as determined by the 
  

 2 

 President and Chief Executive Office and/or the Board). Executive also agrees that he shall take any accrued vacation in
whole-day increments to the extent practicable. If a recognized holiday falls during Executive’s vacation period, it will not be considered as a vacation day. 
  
 C. Executive shall be provided an automobile allowance of one thousand dollars ($1,000) per month to compensate Executive
for any and all expenses associated with Executive’s maintenance, use, and insurance of an automobile for any Company business-related purpose. 
  
 D. During the Employment Period, Executive shall be authorized to incur necessary and reasonable travel, entertainment and other business expenses in
connection with his duties hereunder. The Company shall reimburse Executive for such expenses upon presentation of an itemized account and appropriate supporting documentation. 
  
 7. Restrictive Covenants. During the Employment Period: 
  
 A. Executive shall devote Executive’s full time and energy solely and
exclusively to the performance of Executive’s duties, except during periods of illness or vacation periods. 
  
 B. Executive shall not directly or indirectly provide services to or through any person, firm or other entity except the Company, unless otherwise
authorized by the Board in writing. However, Executive may continue to serve during the Employment Period as a non-employee member of the board of directors of any companies for which he so serves on the effective date of this Agreement and may join
the board of directors of other companies in the future with the Board’s written consent. 
  
 C. Executive shall not render any services of any kind or character for Executive’s own account or for any other person, firm or entity without
first obtaining the written consent of each of the Company’s Board members. However, Executive shall have the right to perform such incidental services as are necessary in connection with (i) Executive’s private passive investments,
but only if Executive is not obligated or required to (and shall not in fact) devote any managerial efforts which interfere with the services required to be performed by him, or (ii) Executive’s charitable or community activities, or
participation in trade or professional organizations, but only if such incidental services do not interfere with the performance of Executive’s services. 
  

8. Non-Competition. During any period for which Executive is receiving payments from the Company, either pursuant to Paragraphs 3 and 4
of this Part One or Paragraphs 11 and 12 of Part Two of this Agreement, Executive shall not directly or indirectly: 
  
 A. own, manage, operate, join, control or participate in the ownership, management, operation or control of, or be employed by or connected in any manner
with, any enterprise which is engaged in any business competitive with or similar to that of the Company; provided, however, that such restriction shall not apply to any passive investment representing an interest of less than two percent
(2%) of an outstanding class of publicly-traded securities of any corporation or other enterprise which is not, at the time of such investment, engaged in a business competitive with the Company’s business; or 
  

 3 

 B. encourage or solicit, either directly or indirectly, and on behalf of himself and/or any other
individual and/or third party, any of the Company’s employees to leave the Corporation’s employ for any reason or interfere in any other manner with employment relationships at the time existing between the Company and its employees; or

  
 C. solicit any client, either directly or indirectly, and on
behalf of himself and/or any other individual and/or third party, of the Company (whose identity is, and/or about whom Executive has confidential information, which rises to the level of a “trade secret” within the meaning of the Uniform
Trade Secrets Act (“UTSA”)) for purposes of inducing said client(s) to terminate its existing business relationship with the Company or interfere in any other manner with any existing business relationship between the Company and such
client(s). 
  
 Executive acknowledges that monetary damages may not be sufficient
to compensate the Corporation for any economic loss which may be incurred by reason of his breach of the foregoing restrictive covenants. Accordingly, in the event of any such breach, the Company shall, in addition to the termination of this
Agreement and any remedies available to the Company under other provisions of this Agreement and/or at law, be entitled to obtain equitable relief in the form of an injunction precluding Executive from continuing such breach. 
  
 9. Proprietary Information. 
  
 A. As a condition to employment, Executive will execute the Company’s
Confidential Information and Assignment of Inventions Agreement, a true and correct copy of which is attached to this Agreement as Exhibit A. 
  
 B. Executive’s obligations under this Paragraph 9 shall continue in effect after the termination of his employment with the Company, whatever the
reason or reasons for such termination, and Executive acknowledges and agrees that the Company shall have the right to communicate with any future or prospective employer of Executive concerning Executive’s continuing obligations under this
Paragraph 9. 
  
 10. Termination of Employment. 

  
 A. At Will Employment. Executive’s
employment with the Company is at will and not for a specific term, and may be terminated by either the Company or Executive at any time, for any reason, with or without Cause, and without prior notice, except as otherwise provided in Paragraph 10.
C. Any contrary representations, which may have been made to Executive shall be superseded by this Agreement. This Agreement shall constitute the full and complete agreement between Executive and the Company on the “at will” nature of
Executive’s employment, which may only be changed in an express written agreement signed by Executive and a duly authorized officer or director of the Company, as approved in a written resolution of the Board. 
  

 4 

 B. For purposes of this Agreement, termination for “Cause” shall mean the involuntary
termination of the Executive’s employment for any of the following reasons: 
  
 (i) financial dishonesty, including, without limitation, misappropriation of funds or property, or any attempt by Executive to secure any personal profit related to the business or business opportunities of the
Company without the informed, written approval of the Board; 
  
 (ii) refusal to comply with reasonable directives of the President and Chief Executive Officer and/or the Board; 
  
 (iii) breach of Executive’s fiduciary duties to the Company, or Executive’s gross negligence, reckless or willful misconduct in the performance
of Executive’s duties; 
  
 (iv) failure to perform, or
neglect in the performance of, Executive’s duties; 
  
 (v)
misconduct which has a materially adverse effect upon the Company’s business or reputation; 
  
 (vi) the conviction of, or plea of nolo contendre to, or an misdemeanor involving dishonesty or fraud; 
  
 (vii) any breach of any material term or provision of this Agreement (the
obligations of Paragraphs 1, 7, 8 and 9, non-inclusive, are deemed to be material); 
  
 (viii) violation of Company policies including, without limitation, the Company’s policies on equal employment opportunity and prohibition of unlawful harassment; or 
  
 (ix) Executive’s death. 
  
 An involuntary termination of Executive’s employment in any other
circumstances or for any other reason will be a termination “Without Cause.” 
  
 C. For purposes of this Agreement, termination for “Good Reason” shall mean the resignation of employment by Executive within ninety (90) days following the occurrence of: (i) a change in
Executive’s position with the Company which materially reduces his duties or level of responsibility; (ii) any requirement that Executive relocate (on a regular basis) his place of employment to an office outside of Orange County,
California, provided such reduction, change or relocation is effected by the Company without his written consent. In order for Executive to resign for Good Reason, as defined herein, Executive must provide thirty (30) day’s advance written
notice of such resignation to the Company. Further, Executive agrees that should the Company remedy the basis for such resignation prior to the expiration of such thirty (30) days notice period, then Executive may not resign for Good Reason.

  
 D. Upon the termination of Executive’s employment for
any reason during the Employment Period, Executive shall be paid all salary and unused vacation earned through the date of such termination. 
  

 5 

 PART TWO — SEVERANCE BENEFITS 
  
 11. Benefit Entitlement. Executive shall be entitled to receive the severance benefits specified in Paragraph
12 in the event the Company involuntarily terminates Executive’s employment other than for Cause or Executive resigns for Good Reason (providing the notice and allowing the Company to cure as provided in Paragraph 10. C.) and Executive properly
executes, and does not revoke or attempt to revoke, a release of claims against the Company, its Board, its affiliates, and their employees and agents substantially in the form of Exhibit B (the “Release”). Under no circumstances shall any
severance benefits be payable pursuant to this Part Two if Executive’s employment is terminated for Cause or Executive resigns for something other than Good Reason (as such term is defined in Paragraphs 10. B. and C., respectively). 

 
 12. Nature of Severance Benefits. The severance benefits
payable to Executive under this Part Two shall consist of the following: 
  
 A. Lump Sum Payment Upon Execution of Release. Immediately upon execution of the Release, and provided the Executive does not exercise any right he may have to revoke the Release, Executive shall receive one
lump sum payment of five thousand dollars ($5,000). 
  
 B.
Salary Continuation. Executive shall receive salary continuation payments, at the monthly rate of Base Salary in effect for him under Paragraph 3. A. at the time of his involuntary termination Without Cause or his resignation for Good Reason,
from the date Executive is terminated, or his resignation, for a period of no greater than 6 months. Such salary continuation payments shall be made in accordance with the Company’s standard payroll schedule and shall be subject to all
applicable withholding requirements as set forth in Paragraph 3. B. 
  
 The benefits provided Executive under this Paragraph 12 are the only severance benefits to which Executive is entitled upon the termination of his employment with the Company, and no other benefits shall be provided to Executive by the
Company pursuant to any other severance plan or program of the Company. Executive acknowledges and agrees that but for his execution of this Agreement, he would not be entitled to such benefits. 
  
 13. Cessation of Severance Benefits. In the event Executive
breaches any of his obligations under Paragraphs 7, 8 or 9 of this Agreement, the obligation on the part of the Company to pay any remaining severance benefits shall immediately cease, and no further severance benefits under this Part Two shall
become due and payable to Executive. However, assuming that Executive has executed the Release and not exercised any right to revoke the Release, Executive shall retain the lump sum payment referenced above in Paragraph 12. A. of this Agreement
regardless of whether or not the obligation to provide Executive with any remaining severance benefits has ceased. The cessation of severance benefits to Executive, as set forth in this Paragraph 13, shall not negate or affect Executive’s
release of all claims under the Release in any way or any other remedy available to the Company. 
  

 6 

 14. Death. Should Executive die before he receives the full amount of salary continuation
payments to which he may become entitled under Part Two of this Agreement, then any remaining salary continuation payments will be made to the estate of the Executive. 
  
 PART THREE — MISCELLANEOUS PROVISIONS 
  
 15. Successors and Assigns. The provisions of this Agreement shall inure to the benefit of, and shall be
binding upon, the Company, its successors and assigns. 
  
 16.
General Creditor Status. The benefits to which Executive may become entitled under Part Two 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, Executive’s right (or the right of the executors or administrators of 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. 
  
 17. Notices. 
  
 A. Any and all notices, demands or other communications required or desired to be given by any party shall be in writing and shall be validly given or made to another party if served either personally or if deposited in the United States
mail, certified or registered, postage prepaid, return receipt requested. If such notice, demand or other communication shall be served personally, service shall be conclusively deemed made at the time of such personal service. If such notice,
demand or other communication is given by mail, such notice shall be conclusively deemed given forty-eight (48) hours after the deposit in the United States mail addressed to the party to whom such notice, demand or other communication is to be
given as follows: 
  
 To the Company: 
  
 981 Calle Amanecer 
 San Clemente, California 92673 
  
 To Executive:

  
 28698 Murrelet Drive 
 Laguna Niguel, Ca 92677 
  
 B. Any party may change its address for the purpose of receiving notices, demands and other communications by a written notice given in the described
manner to the other party. 
  
 18. Governing
Document. This Agreement constitutes the entire agreement and understanding of the Company and Executive with respect to the terms and conditions of Executive’s employment with the Company and the payment of severance benefits and
supersedes all prior and contemporaneous written or verbal agreements and understandings between Executive and the Company relating to such subject matter. This Agreement may only be amended by written instrument signed by Executive and an officer
of the Company 
  

 7 

 specifically authorized by the Board for such purpose. Any and all prior agreements, understandings or representations
relating to the Executive’s employment with the Company are terminated and cancelled in their entirety and are of no further force or effect. 
  
 19. Governing Law. The provisions of this letter agreement will be construed and interpreted under the laws of the State of California
applicable to agreements executed and to be 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. 
  
 20. Arbitration. Any controversy, claim or dispute between the parties directly or indirectly concerning this Agreement, or the breach or
subject matter hereof, including, but not limited to, the granting, terms, vesting or exercisability of the Option Shares, shall be finally settled by arbitration held in Orange County, California. The arbitration will be held under the auspices of
either the American Arbitration Association (“AAA”) or Judicial Arbitration & Mediation Services, Inc. (“J•A•M•S”), with the designation of the sponsoring organization to be made by the party who did not
initiate the claim. The arbitration shall be in accordance with the AAA’s then-current employment arbitration procedures (if AAA is designated) or the then-current J•A•M•S employment arbitration rules (if J•A•M•S
is designated). The arbitrator shall be either a retired judge, or an attorney licensed to practice law in the state in which the arbitration is convened (the “Arbitrator”). The Arbitrator shall have jurisdiction to hear and rule on
pre-hearing disputes and is authorized to hold pre-hearing conferences by telephone or in person, as the Arbitrator deems necessary. The Arbitrator shall have the authority to entertain a motion to dismiss, demurrer, and/or a motion for summary
judgment by any party and shall apply the standards governing such motions under the applicable rules of civil procedure. The Arbitrator shall render a written award and opinion which reveals, however briefly, the essential findings and conclusions
on which the award is based. The arbitration shall be final and binding upon the parties, except as otherwise provided for by the law applicable to review of arbitration decisions/awards. Either party may bring an action in any court of competent
jurisdiction to compel arbitration under this Agreement and/or to enforce an arbitration award. The Company will pay the Arbitrator’s fees and any other fees, costs or expenses unique to arbitration, including the filing fee, the fees and costs
of the Arbitrator, and rental of a room to hold the arbitration hearing. However, if Executive is the party initiating the claim, Executive shall be responsible for contributing an amount equal to the filing fee to initiate a claim in the court of
general jurisdiction in the state which Executive is (or was last) employed by the Company. Each party shall pay for its, his or her, own costs and attorneys’ fees, if any. However, if any party prevails on a statutory claim which entitles the
prevailing party to attorneys’ fees and/or costs, or if there is a written agreement providing for fees and/or costs, the Arbitrator may award reasonable fees and/or costs to the prevailing party in accordance with such fee-shifting statute or
agreement. 
  

 8 

 21. Remedies. All rights and remedies provided pursuant to this Agreement or by law shall
be cumulative, and no such right or remedy shall be exclusive of any other. A party may pursue any one or more rights or remedies provided by this Agreement or may seek damages or specific performance in the event of another party’s breach or
may pursue any other remedy by law or equity, whether or not stated in this Agreement. 
  
 22. 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.

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

			
	BIOLASE TECHNOLOGY, INC.
		
	 	 	 /s/ Robert E. Grant

	By:	 	Robert E. Grant
	Title:	 	President & CEO
	
	RICHARD L. HARRISON
	
	 /s/ Richard L. Harrison

  

 9

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00094-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00094-of-00352.parquet"}]]