Document:

EX-10.1

COHU, INC.

1997 EMPLOYEE STOCK PURCHASE PLAN

(as amended)

1. Establishment and Purpose

1.1 Establishment. The Cohu, Inc. 1997 Employee Stock Purchase Plan (the “Plan”) was
originally established effective as of February 28, 1997 (the “Effective Date”) and was
subsequently amended and restated as of March 17, 2006 and March 25, 2011.

1.2 Purpose. The purpose of the Plan to provide Eligible Employees of the Participating
Company Group with an opportunity to acquire a proprietary interest in the Company through the
purchase of Stock. The Company intends that the Plan shall qualify as an “employee stock purchase
plan” under Sections 421 and  423 of the Code (including any amendments or replacements of such
section), and the Plan shall be so construed.

2. Definitions and Construction.

2.1 Definitions. Any term not expressly defined in the Plan but defined for purposes of
Section 423 of the Code shall have the same definition herein. Whenever used herein, the following
terms shall have their respective meanings set forth below:

(a) "Board” means the Board of Directors of the Company. If one or more Committees have been
appointed by the Board to administer the Plan, “Board” also means such Committee(s).

(b) "Code” means the Internal Revenue Code of 1986, as amended, and any applicable regulations
promulgated thereunder.

(c) "Committee” means a committee of the Board duly appointed to administer the Plan and
having such powers as shall be specified by the Board. Unless the powers of the Committee have
been specifically limited, the Committee shall have all of the powers of the Board granted herein,
including, without limitation, the power to amend or terminate the Plan at any time, subject to the
terms of the Plan and any applicable limitations imposed by law.

(d) "Company” means Cohu, Inc., a Delaware corporation, or any successor corporation thereto.

(e) "Compensation” means, with respect to an Offering Period under the Plan, all amounts paid
in cash in the form of base salary, paid during such Offering Period before deduction for any
contributions to any plan maintained by a Participating Company and described in Section 401(k) or
Section 125 of the Code. Compensation shall not include payments of overtime, bonuses,
commissions, other incentive compensation, reimbursements of expenses, allowances, long-term
disability, workers’ compensation or any amount deemed received or any amounts directly or
indirectly paid pursuant to the Plan or any other stock purchase or stock option plan.

(f) "Eligible Employee” means an Employee who meets the requirements set forth in Section 5
for eligibility to participate in the Plan.

(g) "Employee” means any person treated as an employee (including an officer or a director who
is also treated as an employee) in the records of a Participating Company and for purposes of
Section 423 of the Code; provided, however, that neither service as a director nor payment of a
director’s fee shall be sufficient to constitute employment for purposes of the Plan.

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

(i) "Fair Market Value” means, as of any date, if there is then a public market for the Stock,
the closing price of a share of Stock (or the mean of the closing bid and asked prices of a share
of Stock if the Stock is so reported instead) as reported on the National Association of Securities
Dealers Automated Quotation (“Nasdaq”) System, the Nasdaq National Market System or such other
national or regional securities exchange or market system constituting the primary market for the
Stock. If the relevant date does not fall on a day on which the Stock is trading on Nasdaq, the
Nasdaq National Market System or other national or regional securities exchange or market system,
the date on which the Fair Market Value shall be established shall be the last day on which the
Stock was so traded prior to the relevant date, or such other appropriate day as shall be
determined by the Board, in its sole discretion. If there is then no public market for the Stock,
the Fair Market Value on any relevant date shall be as determined by the Board without regard to
any restriction other than a restriction which, by its terms, will never lapse.

(j) "Offering” means an offering of Stock as provided in Section 6.

(k) "Offering Date” means, for any Offering Period, the first day of such Offering Period.

(l) "Offering Period” means a period determined in accordance with Section 6.1.

(m) "Parent Corporation” means any present or future “parent corporation” of the Company, as
defined in Section 424(e) of the Code.

(n) "Participant” means an Eligible Employee participating in the Plan.

(o) "Participating Company” means the Company or any Parent Corporation or Subsidiary
Corporation which the Board determines should be included in the Plan. The Board shall have the
sole and absolute discretion to determine from time to time what Parent Corporations or Subsidiary
Corporations shall be Participating Companies.

(p) "Participating Company Group” means, at any point in time, the Company and all other
corporations collectively which are then Participating Companies.

(q) "Purchase Date” means, for any Offering Period, the last day of such Offering Period.

(r) "Purchase Price” means the price at which a share of Stock may be purchased pursuant to
the Plan, as determined in accordance with Section 9.

(s) "Purchase Right” means an option pursuant to the Plan to purchase such shares of Stock as
provided in Section 8 which may or may not be exercised at the end of an Offering Period. Such
option arises from the right of a Participant to withdraw such Participant’s accumulated payroll
deductions (if any) and terminate participation in the Plan or any Offering therein at any time
during a Offering Period.

(t) "Stock” means the common stock, $1.00 par value, of the Company, as adjusted from time to
time in accordance with Section 4.2.

(u) "Subsidiary Corporation” means any present or future “subsidiary corporation” of the
Company, as defined in Section 424(f) of the Code.

2.2 Construction. Captions and titles contained herein are for convenience only and shall not
affect the meaning or interpretation of any provision of the Plan. Except when otherwise indicated
by the context, the singular shall include the plural, the plural shall include the singular, and
use of the term “or” shall include the conjunctive as well as the disjunctive.

3. Administration. The Plan shall be administered by the Board, including any duly
appointed Committee of the Board. All questions of interpretation of the Plan or of any Purchase
Right shall be determined by the Board and shall be final and binding upon all persons having an
interest in the Plan or such Purchase Right. Subject to the provisions of the Plan, the Board
shall determine all of the relevant terms and conditions of Purchase Rights granted pursuant to the
Plan; provided, however, that all Participants granted Purchase Rights pursuant to the Plan shall
have the same rights and privileges within the meaning of Section 423(b)(5) of the Code. All
expenses incurred in connection with the administration of the Plan shall be paid by the Company.

1

4. Shares Subject to Plan.

4.1 Maximum Number of Shares Issuable. Subject to adjustment as provided in Section 4.2, the
maximum aggregate number of shares of Stock that may be issued under the Plan shall be one million
nine hundred thousand (1,900,000) and shall consist of authorized but unissued or reacquired shares
of the Stock, or any combination thereof. If an outstanding Purchase Right for any reason expires
or is terminated or canceled, the shares of Stock allocable to the unexercised portion of such
Purchase Right shall again be available for issuance under the Plan.

4.2 Adjustments for Changes in Capital Structure. In the event of any stock dividend, stock
split, reverse stock split, recapitalization, combination, reclassification or similar change in
the capital structure of the Company, or in the event of any merger (including a merger effected
for the purpose of changing the Company’s domicile), sale of assets or other reorganization in
which the Company is a party, appropriate adjustments shall be made to the number and class of
shares subject to the Plan, to the Per Offering Share Limit set forth in Section 8.1 and to each
Purchase Right and to the Purchase Price.

5. Eligibility.

5.1 Employees Eligible to Participate. Any Employee of a Participating Company is eligible to
participate in the Plan except the following:

(a) Employees who are customarily employed by the Participating Company Group for twenty (20)
hours or less per week;

(b) Employees who are customarily employed by the Participating Company Group for not more
than five (5) months in any calendar year; and

(c) Employees who own or hold options to purchase or who, as a result of participation in the
Plan, would own or hold options to purchase, stock of the Company or of any Parent Corporation or
Subsidiary Corporation possessing five percent (5%) or more of the total combined voting power or
value of all classes of stock of such corporation within the meaning of Section 423(b)(3) of the
Code.

5.2 Leased Employees Excluded. Notwithstanding anything herein to the contrary, any
individual performing services for a Participating Company solely through a leasing agency or
employment agency shall not be deemed an “Employee” of such Participating Company.

6. Offerings.

6.1 Offering Periods. Except as otherwise set forth below, the Plan shall be implemented by
sequential Offerings of six (6) months duration (an “Offering Period”). Subsequent Offerings shall
commence on the first days of November and May of each year and end on the last days of the first
April and October, respectively, occurring thereafter. Notwithstanding the foregoing, the Board
may establish a different term for one or more Offerings or different commencing or ending dates
for such Offerings; provided, however, that no Offering may exceed a term of twenty-seven (27)
months. An Employee who becomes an Eligible Employee after an Offering Period has commenced shall
not be eligible to participate in such Offering but may participate in any subsequent Offering
provided such Employee is still an Eligible Employee as of the commencement of any such subsequent
Offering. In the event the first or last day of an Offering Period is not a business day, the
Company shall specify the business day that will be deemed the first or last day, as the case may
be, of the Offering Period.

6.2 Governmental Approval; Stockholder Approval. Notwithstanding any other provision of the
Plan to the contrary, any Purchase Right granted pursuant to the Plan shall be subject to
(a) obtaining all necessary governmental approvals or qualifications of the sale or issuance of the
Purchase Rights or the shares of Stock and (b) obtaining stockholder approval of the Plan.

7. Participation in the Plan.

7.1 Initial Participation. An Eligible Employee shall become a Participant on the first
Offering Date after satisfying the eligibility requirements of Section 5 and delivering to the
Company’s payroll office or other office designated by the Company not later than the close of
business for such office on the last business day before such Offering Date (the “Subscription
Date”) a subscription agreement indicating the Employee’s election to participate in the Plan and
authorizing payroll deductions. An Eligible Employee who does not deliver a subscription agreement
to the Company’s payroll or other designated office on or before the Subscription Date shall not
participate in the Plan for that Offering Period or for any subsequent Offering Period unless such
Employee subsequently enrolls in the Plan by filing a subscription agreement with the Company by
the Subscription Date for such subsequent Offering Period. The Company may, from time to time,
change the Subscription Date as deemed advisable by the Company in its sole discretion for proper
administration of the Plan.

7.2 Continued Participation. A Participant shall automatically participate in each subsequent
Offering Period until such time as such Participant (a) ceases to be an Eligible Employee,
(b) withdraws from the Plan pursuant to Section 13.2 or (c) terminates employment as provided in
Section 14. If a Participant automatically may participate in a subsequent Offering Period
pursuant to this Section 7.2, then the Participant is not required to file any additional
subscription agreement for such subsequent Offering Period in order to continue participation in
the Plan. However, a Participant may file a subscription agreement with respect to a subsequent
Offering Period if the Participant desires to change any of the Participant’s elections contained
in the Participant’s then effective subscription agreement.

8. Right to Purchase Shares.

8.1 Purchase Right. Except as set forth below, during an Offering Period each Participant
shall have a Purchase Right consisting of the right to purchase up to the lesser of (i) that number
of whole shares of Stock arrived at by dividing Twelve Thousand Five Hundred Dollars ($12,500) by
the Fair Market Value of a share of Stock on the Offering Date of such Offering Period or (ii)
3,000 shares. Shares of Stock may only be purchased through a Participant’s payroll deductions
pursuant to Section 10.

8.2 Pro Rata Adjustment of Purchase Right. Notwithstanding the foregoing, if the Board shall
establish an Offering Period of less than five and one-half (51/2) months or more than six and
one-half (6 1/2) months in duration, the dollar amount in Section 8.1 shall be determined by
multiplying $2,083.33 by the number of months in the Offering Period and rounding to the nearest
whole dollar. For purposes of the preceding sentence, fractional months shall be rounded to the
nearest whole month.

9. Purchase Price. The Purchase Price at which each share of Stock may be acquired in
a given Offering Period pursuant to the exercise of all or any portion of a Purchase Right granted
under the Plan shall be set by the Board; provided, however, that the Purchase Price shall not be
less than eighty-five percent (85%) of the lesser of (a) the Fair Market Value of a share of Stock
on the Offering Date of the Offering Period, or (b) the Fair Market Value of a share of Stock on
the Purchase Date of the Offering Period. Unless otherwise provided by the Board prior to the
commencement of an Offering Period, the Purchase Price for that Offering Period shall be
eighty-five percent (85%) of the lesser of (a) the Fair Market Value of a share of Stock on the
Offering Date of the Offering Period, or (b) the Fair Market Value of a share of Stock on the
Purchase Date of the Offering Period.

10. Accumulation of Purchase Price through Payroll Deduction. Shares of Stock which
are acquired pursuant to the exercise of all or any portion of a Purchase Right for an Offering
Period may be paid for only by means of payroll deductions from the Participant’s Compensation
accumulated during the Offering Period. Except as set forth below, the amount of Compensation to
be deducted from a Participant’s Compensation during each pay period shall be determined by the
Participant’s subscription agreement.

10.1 Commencement of Payroll Deductions. Payroll deductions shall commence on the first
payday following the Offering Date and shall continue to the end of the Offering Period unless
sooner altered or terminated as provided in the Plan.

10.2 Limitations on Payroll Deductions. The amount of payroll deductions with respect to the
Plan for any Participant during any pay period shall be in one percent (1%) increments not to
exceed ten percent (10%) of the Participant’s Compensation for such pay period. Notwithstanding
the foregoing, the Board may change the limits on payroll deductions effective as of a future
Offering Date, as determined by the Board. Amounts deducted from Compensation shall be reduced by
any amounts contributed by the Participant and applied to the purchase of Company stock pursuant to
any other employee stock purchase plan qualifying under Section 423 of the Code.

10.3 Election to Increase, Decrease or Stop Payroll Deductions. During an Offering Period, a
Participant may elect to increase or decrease the amount deducted or stop deductions from his or
her Compensation by filing an amended subscription agreement with the Company on or before the
“Change Notice Date.” The “Change Notice Date” shall initially be the seventh (7th) day prior to
the end of the first pay period for which such election is to be effective; however, the Company
may change such Change Notice Date from time to time.

10.4 Participant Accounts. Individual Plan accounts shall be maintained for each Participant.
All payroll deductions from a Participant’s Compensation shall be credited to such account and
shall be deposited with the general funds of the Company. All payroll deductions received or held
by the Company may be used by the Company for any corporate purpose.

10.5 No Interest Paid. Interest shall not be paid on sums deducted from a Participant’s
Compensation pursuant to the Plan.

10.6 Company Established Procedures. The Company may, from time to time, establish or change
(a) a minimum required payroll deduction amount for participation in an Offering, (b) limitations
on the frequency or number of changes in the rate of payroll deduction during an Offering, (c) an
exchange ratio applicable to amounts withheld in a currency other than U.S. dollars, (d) payroll
deduction in excess of or less than the amount designated by a Participant in order to adjust for
delays or mistakes in the Company’s processing of subscription agreements, (e) the date(s) and
manner by which the Fair Market Value of a share of Stock is determined for purposes of
administration of the Plan, or (f) such other limitations or procedures as deemed advisable by the
Company in the Company’s sole discretion which are consistent with the Plan and in accordance with
the requirements of Section 423 of the Code.

11. Purchase of Shares.

11.1 Exercise of Purchase Right. On each Purchase Date, each Participant who has not
withdrawn from the Offering or whose participation in the Offering has not terminated on or before
such Purchase Date shall automatically acquire pursuant to the exercise of the Participant’s
Purchase Right the number of whole shares of Stock arrived at by dividing the total amount of the
Participant’s accumulated payroll deductions for the Purchase Period by the Purchase Price;
provided, however, in no event shall the number of shares purchased by the Participant during an
Offering Period exceed the number of shares subject to the Participant’s Purchase Right. No shares
of Stock shall be purchased on a Purchase Date on behalf of a Participant whose participation in
the Offering or the Plan has terminated on or before such Purchase Date.

11.2 Return of Cash Balance. Any cash balance remaining in the Participant’s Plan account
shall be refunded to the Participant as soon as practicable after the Purchase Date. In the event
the cash to be returned to a Participant pursuant to the preceding sentence is an amount less than
the amount necessary to purchase a whole share of Stock, the Company may establish procedures
whereby such cash is maintained in the Participant’s Plan account and applied toward the purchase
of shares of Stock in the subsequent Offering Period.

11.3 Tax Withholding. At the time a Participant’s Purchase Right is exercised, in whole or in
part, or at the time a Participant disposes of some or all of the shares of Stock he or she
acquires under the Plan, the Participant shall make adequate provision for the foreign, federal,
state and local tax withholding obligations of the Participating Company Group, if any, which arise
upon exercise of the Purchase Right or upon such disposition of shares, respectively. The
Participating Company Group may, but shall not be obligated to, withhold from the Participant’s
compensation the amount necessary to meet such withholding obligations.

11.4 Expiration of Purchase Right. Any portion of a Participant’s Purchase Right remaining
unexercised after the end of the Offering Period to which such Purchase Right relates shall expire
immediately upon the end of such Offering Period.

12. Limitations on Purchase of Shares; Rights as a Stockholder.

12.1 Fair Market Value Limitation. Notwithstanding any other provision of the Plan, no
Participant shall be entitled to purchase shares of Stock under the Plan (or any other employee
stock purchase plan which is intended to meet the requirements of Section 423 of the Code sponsored
by the Company or a Parent Corporation or Subsidiary Corporation at a rate which exceeds $25,000 in
Fair Market Value, which Fair Market Value is determined for shares purchased during a given
Offering Period as of the Offering Date (or such other limit as may be imposed by the Code), for
each calendar year in which the Participant participates in the Plan (or any other employee stock
purchase plan described in this sentence).

12.2 Pro Rata Allocation. In the event the number of shares of Stock which might be purchased
by all Participants in the Plan exceeds the number of shares of Stock available in the Plan, the
Company shall make a pro rata allocation of the remaining shares in as uniform a manner as shall be
practicable and as the Company shall determine to be equitable.

12.3 Rights as a Stockholder and Employee. A Participant shall have no rights as a
stockholder by virtue of the Participant’s participation in the Plan until the date of the issuance
of a stock certificate for the shares of Stock being purchased pursuant to the exercise of the
Participant’s Purchase Right. No adjustment shall be made for cash dividends or distributions or
other rights for which the record date is prior to the date such stock certificate is issued.
Nothing herein shall confer upon a Participant any right to continue in the employ of the
Participating Company Group or interfere in any way with any right of the Participating Company
Group to terminate the Participant’s employment at any time.

13. Withdrawal.

13.1 Withdrawal From an Offering. A Participant may withdraw from an Offering by signing and
delivering to the Company’s payroll or other designated office a written notice of withdrawal on a
form provided by the Company for such purpose. Such withdrawal may be elected at any time prior to
the end of an Offering Period. Unless otherwise indicated, withdrawal from an Offering shall not
result in a withdrawal from the Plan or any succeeding Offering therein. A Participant is
prohibited from again participating in an Offering at any time following withdrawal from such
Offering. The Company may impose, from time to time, a requirement that the notice of withdrawal
be on file with the Company’s payroll office or other designated office for a reasonable period
prior to the effectiveness of the Participant’s withdrawal from an Offering.

13.2 Withdrawal from the Plan. A Participant may withdraw from the Plan by signing and
delivering to the Company’s payroll office or other designated office a written notice of
withdrawal on a form provided by the Company for such purpose. Withdrawals made after a Purchase
Date shall not affect shares of Stock acquired by the Participant on such Purchase Date. In the
event a Participant voluntarily elects to withdraw from the Plan, the Participant may not resume
participation in the Plan during the same Offering Period, but may participate in any subsequent
Offering under the Plan by again satisfying the requirements of Sections 5 and 7.1. The Company
may impose, from time to time, a requirement that the notice of withdrawal be on file with the
Company’s payroll office or other designated office for a reasonable period prior to the
effectiveness of the Participant’s withdrawal from the Plan.

13.3 Return of Payroll Deductions. Upon a Participant’s withdrawal from an Offering or the
Plan pursuant to Sections 13.1 or 13.2, respectively, the Participant’s accumulated payroll
deductions which have not been applied toward the purchase of shares of Stock shall be returned as
soon as practicable after the withdrawal, without the payment of any interest, to the Participant,
and the Participant’s interest in the Offering or the Plan, as applicable, shall terminate. Such
accumulated payroll deductions may not be applied to any other Offering under the Plan.

14. Termination of Employment or Eligibility. Termination of a Participant’s
employment with a Participating Company for any reason, including retirement, disability or death
or the failure of a Participant to remain an Eligible Employee, shall terminate the Participant’s
participation in the Plan immediately. In such event, the payroll deductions credited to the
Participant’s Plan account since the last Purchase Date shall, as soon as practicable, be returned
to the Participant or, in the case of the Participant’s death, to the Participant’s legal
representative, and all of the Participant’s rights under the Plan shall terminate. Interest shall
not be paid on sums returned to a Participant pursuant to this Section 14. A Participant whose
participation has been so terminated may again become eligible to participate in the Plan by again
satisfying the requirements of Sections 5 and 7.1.

15. Transfer of Control.

15.1 Definitions.

(a) An “Ownership Change Event” shall be deemed to have occurred if any of the following
occurs with respect to the Company: (i) the direct or indirect sale or exchange in a single or
series of related transactions by the stockholders of the Company of more than fifty percent (50%)
of the voting stock of the Company; (ii) a merger or consolidation in which the Company is a party;
(iii) the sale, exchange, or transfer of all or substantially all of the assets of the Company; or
(iv) a liquidation or dissolution of the Company.

(b) A “Transfer of Control” shall mean an Ownership Change Event or a series of related
Ownership Change Events (collectively, the “Transaction”) wherein the stockholders of the Company
immediately before the Transaction do not retain immediately after the Transaction, in
substantially the same proportions as their ownership of shares of the Company’s voting stock
immediately before the Transaction, direct or indirect beneficial ownership of more than fifty
percent (50%) of the total combined voting power of the outstanding voting stock of the Company or
the corporation or corporations to which the assets of the Company were transferred (the
"Transferee Corporation(s)”), as the case may be. For purposes of the preceding sentence, indirect
beneficial ownership shall include, without limitation, an interest resulting from ownership of the
voting stock of one or more corporations which, as a result of the Transaction, own the Company or
the Transferee Corporation(s), as the case may be, either directly or through one or more
subsidiary corporations. The Board shall have the right to determine whether multiple sales or
exchanges of the voting stock of the Company or multiple Ownership Change Events are related, and
its determination shall be final, binding and conclusive.

15.2 Effect of Transfer of Control on Purchase Rights. In the event of a Transfer of Control,
the surviving, continuing, successor, or purchasing corporation or parent corporation thereof, as
the case may be (the “Acquiring Corporation"), may assume the Company’s rights and obligations
under the Plan or substitute substantially equivalent Purchase Rights for stock of the Acquiring
Corporation. If the Acquiring Corporation elects not to assume or substitute for the outstanding
Purchase Rights, the Board shall, notwithstanding any other provision herein to the contrary,
adjust the Purchase Date of the then current Offering Period to a date immediately before the date
of the Transfer of Control, but shall not adjust the number of shares of Stock subject to any
Purchase Right. All Purchase Rights which are neither assumed or substituted for by the Acquiring
Corporation in connection with the Transfer of Control nor exercised as of the date of the Transfer
of Control shall terminate and cease to be outstanding effective as of the date of the Transfer of
Control. Notwithstanding the foregoing, if the corporation the stock of which is subject to the
outstanding Purchase Rights immediately prior to an Ownership Change Event described in Section
15.1(a)(i) constituting a Transfer of Control is the surviving or continuing corporation and
immediately after such Ownership Change Event less than fifty percent (50%) of the total combined
voting power of its voting stock is held by another corporation or by other corporations that are
members of an affiliated group within the meaning of section 1504(a) of the Code without regard to
the provisions of section 1504(b) of the Code, the outstanding Purchase Rights shall not terminate
unless the Board otherwise provides in its sole discretion.

16. Nontransferability of Purchase Rights. A Purchase Right may not be transferred in
any manner otherwise than by will or the laws of descent and distribution and shall be exercisable
during the lifetime of the Participant only by the Participant. Any attempt to pledge, assign or
transfer such Purchase Rights or accumulated payroll deductions shall be treated as an election to
withdraw from the Plan. The Company, in its absolute discretion, may impose such restrictions on
the transferability of the shares purchasable upon the exercise of a Purchase Right as it deems
appropriate and any such restriction shall be set forth in the respective subscription agreement
and may be referred to on the certificates evidencing such shares.

17. Reports. Each Participant who exercised all or part of his or her Purchase Right
for an Offering Period shall receive, as soon as practicable after the Purchase Date, a report of
such Participant’s Plan account setting forth the total payroll deductions accumulated, the number
of shares of Stock purchased, the Purchase Price for such shares, the date of purchase and the
remaining cash balance to be refunded or retained in the Participant’s Plan account pursuant to
Section 11.2, if any. Each Participant shall be provided information concerning the Company
equivalent to that information generally made available to the Company’s common stockholders.

18. Restriction on Issuance of Shares. The issuance of shares under the Plan shall be
subject to compliance with all applicable requirements of foreign, federal or state law with
respect to such securities. A Purchase Right may not be exercised if the issuance of shares upon
such exercise would constitute a violation of any applicable foreign, federal or state securities
laws or other law or regulations. In addition, no Purchase Right may be exercised unless (a) a
registration statement under the Securities Act of 1933, as amended, shall at the time of exercise
of the Purchase Right be in effect with respect to the shares issuable upon exercise of the
Purchase Right, or (b) in the opinion of legal counsel to the Company, the shares issuable upon
exercise of the Purchase Right may be issued in accordance with the terms of an applicable
exemption from the registration requirements of said Act. The inability of the Company to obtain
from any regulatory body having jurisdiction the authority, if any, deemed by the Company’s legal
counsel to be necessary to the lawful issuance and sale of any shares under the Plan shall relieve
the Company of any liability in respect of the failure to issue or sell such shares as to which
such requisite authority shall not have been obtained. As a condition to the exercise of a
Purchase Right, the Company may require the Participant to satisfy any qualifications that may be
necessary or appropriate, to evidence compliance with any applicable law or regulation, and to make
any representation or warranty with respect thereto as may be requested by the Company.

19. Legends. The Company may at any time place legends or other identifying symbols
referencing any applicable foreign, federal or state securities law restrictions or any provision
convenient in the administration of the Plan on some or all of the certificates representing shares
of Stock issued under the Plan. The Participant shall, at the request of the Company, promptly
present to the Company any and all certificates representing shares acquired pursuant to a Purchase
Right in the possession of the Participant in order to carry out the provisions of this Section.
Unless otherwise specified by the Company, legends placed on such certificates may include but
shall not be limited to the following:

“THE SHARES EVIDENCED BY THIS CERTIFICATE WERE ISSUED BY THE CORPORATION TO THE REGISTERED
HOLDER UPON THE PURCHASE OF SHARES UNDER AN EMPLOYEE STOCK PURCHASE PLAN AS DEFINED IN SECTION 423
OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. THE TRANSFER AGENT FOR THE SHARES EVIDENCED
HEREBY SHALL NOTIFY THE CORPORATION IMMEDIATELY OF ANY TRANSFER OF THE SHARES BY THE REGISTERED
HOLDER HEREOF MADE ON OR BEFORE               , 20  . THE REGISTERED HOLDER SHALL
HOLD ALL SHARES PURCHASED UNDER THE PLAN IN THE REGISTERED HOLDER’S NAME (AND NOT IN THE NAME OF
ANY NOMINEE) PRIOR TO THIS DATE.”

20. Notification of Sale of Shares. The Company may require the Participant to give
the Company prompt notice of any disposition of shares acquired by exercise of a Purchase Right
within two years from the date of granting such Purchase Right or one year from the date of
exercise of such Purchase Right. The Company may require that until such time as a Participant
disposes of shares acquired upon exercise of a Purchase Right, the Participant shall hold all such
shares in the Participant’s name (and not in the name of any nominee) until the lapse of the time
periods with respect to such Purchase Right referred to in the preceding sentence. The Company may
direct that the certificates evidencing shares acquired by exercise of a Purchase Right refer to
such requirement to give prompt notice of disposition.

21. Amendment or Termination of the Plan. The Plan shall terminate on the earliest to
occur of (i) the date on which all available shares are issued; or (ii) the date on which the
outstanding Purchase Rights are exercised in connection with a Transfer of Control. The Board may
at any time amend or terminate the Plan, except that (a) such termination shall not affect Purchase
Rights previously granted under the Plan, except as permitted under the Plan, and (b) no amendment
may adversely affect a Purchase Right previously granted under the Plan (except to the extent
permitted by the Plan or as may be necessary to qualify the Plan as an employee stock purchase plan
pursuant to Section 423 of the Code or to obtain qualification or registration of the shares of
Stock under applicable foreign, federal or state securities laws). In addition, an amendment to
the Plan must be approved by the stockholders of the Company within twelve (12) months of the
adoption of such amendment if such amendment would (a) authorize the sale of more shares than are
authorized for issuance under the Plan; or (b) change the definition of the corporations that may
be designated by the Board as Participating Companies; or (c) materially modify the eligibility
requirements of the Plan except as required by changes in the Code; or (d) permit payroll
deductions with respect to the Plan in excess of 10% of the Participant’s Compensation; or (e)
materially increase the benefits which may accrue under the Plan.

IN WITNESS WHEREOF, the undersigned Secretary of the Company certifies that the foregoing
Cohu, Inc. 1997 Employee Stock Purchase Plan, as amended and restated, was duly adopted by the
Board of Directors of the Company on March 25, 2011.

 /s/ Jeffrey D. Jones

Jeffrey D. Jones

2exhibit4-2.htm

EXHIBIT 4.2

WARRANT

THIS WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY STATE SECURITIES OR BLUE SKY LAWS AND MAY NOT BE OFFERED, SOLD, TRANSFERRED, HYPOTHECATED OR OTHERWISE ASSIGNED EXCEPT (1) PURSUANT TO A REGISTRATION STATEMENT WITH RESPECT TO SUCH SECURITIES WHICH IS EFFECTIVE UNDER THE ACT OR (2) PURSUANT TO AN AVAILABLE EXEMPTION FROM REGISTRATION UNDER THE ACT RELATING TO THE DISPOSITION OF SECURITIES AND (3) IN ACCORDANCE WITH APPLICABLE STATE SECURITIES AND BLUE SKY LAWS.

WARRANT TO PURCHASE SHARES OF COMMON STOCK

OF

LEGEND OIL AND GAS, LTD.

Warrant No.

DATE EFFECTIVE:

THIS WARRANT is issued by Legend Oil and Gas, Ltd., a Colorado corporation (the “Company”) to Iconic Investment Co., a corporation (in either case, the “Holder”) as compensation for consulting services.

THIS CERTIFIES that, for value received, Holder is entitled to purchase from the Company, subject to the provisions of this Warrant, that number of shares of the Company’s Common Stock equal to three hundred thousand (300,000) shares, at a price of Fifty U.S. Cents ($0.50) per share.  This Warrant is referred to herein as the “Warrant” and the shares of Common Stock issuable pursuant to the terms hereof are sometimes referred to herein as “Warrant Shares.”

1.           Holder Exercise of Warrant. To exercise this Warrant in whole or in part, the Holder shall deliver to the Company at its principal office, (a) a written notice, in substantially the form of the exercise notice attached hereto as Exhibit A (the “Exercise Notice”), of the Holder’s election to exercise this Warrant, which notice shall specify the number of shares of Common Stock to be purchased, (b) a check in the amount of the purchase price for such shares, which shall equal the number of shares of Common Stock to be purchased multiplied by Fifty U.S. Cents ($1.00) per share, and (c) this Warrant. The Company shall as promptly as practicable, and in any event within twenty (20) days after delivery to the Company of (i) the Exercise Notice, (ii) the check mentioned above or a stated election to exercise the warrant on a cashless basis, and (iii) this Warrant, execute and deliver or cause to be executed and delivered, in accordance with such notice, a certificate or certificates representing the aggregate number of shares of Common Stock specified in such notice. If the Holder elects to purchase, at any time, less than the number of shares of Common Stock than purchasable under the terms of this Warrant, the Company shall issue to the Holder a new Warrant exercisable for the number of remaining shares of Common Stock purchasable under this Warrant. Each certificate representing Warrant Shares shall bear the legend or legends required by applicable securities laws as well as such other legend(s) the Company requires to be included on certificates for its Common Stock. The Company shall pay all expenses, taxes and other charges payable in connection with the preparation, issuance and delivery of such stock certificates except that, in case such stock certificates shall be registered in a name or names other than the name of the Holder, funds sufficient to pay all stock transfer taxes that are payable upon the issuance of such stock certificate or certificates shall be paid by the Holder at the time of delivering the Exercise Notice. All shares of Common Stock issued upon the exercise of this Warrant shall be validly issued, fully paid, and nonassessable. This Warrant will expire on January 21, 2014 (the “Expiration Date”), and may be exercised on multiple occasions in amounts not less than ten percent (10%) of the original amount issued before the Expiration Date.

2.           Transfer of Warrant and Warrant Shares. The Holder may sell, pledge, hypothecate, or otherwise transfer this Warrant, in whole or in part, only if such sale, pledge, hypothecation, or transfer is made in compliance with the act or pursuant to an available exemption from registration under the act relating to the disposition of securities, and is made in accordance with applicable state securities laws.

3.           Loss of Warrant. Upon receipt by the Company of evidence satisfactory to it of the loss, theft, or destruction of this Warrant, and of indemnification satisfactory to it, or upon surrender and cancellation of this Warrant, if mutilated, the Company will execute and deliver a new Warrant of like tenor.

4.           Rights of the Holder. No provision of this Warrant shall be construed as conferring upon the Holder the right to vote, consent, receive dividends or receive notice other than as expressly provided herein. Prior to exercise, no provision hereof, in the absence of affirmative action by the Holder to exercise this Warrant, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the holder for the purchase price of any warrant shares or as a stockholder of the Company, whether such liability is asserted by the Company or by creditors of the Company.

5.           Adjustment of Warrants.

a.           Adjustments for Stock Dividends, Distributions and Subdivisions. If the Company at any time or from time to time after the original issue date shall declare or pay any dividend or distribution on the Common Stock payable in Common Stock, or effect a subdivision of the outstanding shares of Common Stock into a greater number of shares of Common Stock (by reclassification or otherwise than by payment of a dividend in Common Stock), then the number of shares of Common Stock into which this Warrant is exercisable shall be increased to an amount which is equal to the product of (i) the number of shares of Common Stock for which this Warrant is exercisable immediately prior to the stock dividend, distribution or subdivision, as the case may be, and (ii) a fraction, the numerator of which is equal to the number of shares of Common Stock issued and outstanding after giving effect to such stock dividend, distribution or subdivision, and the denominator of which is the number of shares of Common Stock issued and outstanding prior to such stock dividend, distribution or subdivision. If the outstanding shares of Common Stock shall be divided or increased because of a stock dividend or distribution, by stock split or otherwise, into a greater number of shares of Common Stock, the Exercise Price in effect immediately prior to such dividend, distribution or division shall, concurrently with the effectiveness of such division, dividend or distribution be proportionately decreased.

b.           Adjustments for Combinations or Consolidation of Common Stock. If the outstanding shares of Common Stock shall be combined or consolidated, by reclassification, reverse stock split or otherwise, into a lesser number of shares of Common Stock, then the number of shares of Common Stock into which this Warrant is exercisable shall be decreased to an amount which is equal to the product of (i) the number of shares of Common Stock for which this Warrant is exercisable immediately prior to combination or consolidation, as the case may be, and (ii) a fraction, the numerator of which is equal to the number of shares of Common Stock issued and outstanding after giving effect to such combination or consolidation, and the denominator of which is the number of shares of Common Stock issued and outstanding prior to such combination or consolidation. If the outstanding shares of Common Stock shall be combined or consolidated, by reclassification, reverse stock split or otherwise, into a lesser number of shares of Common Stock, the Exercise Price in effect immediately prior to such combination or consolidation shall, concurrently with the effectiveness of such combination or consolidation, be proportionately increased.

 

c.           Adjustment for Mergers or Reorganization, etc. In case of any consolidation or merger of the Company with or into another corporation or the conveyance of all or substantially all of the assets of the Company to another corporation, this Warrant shall be exercisable into the number of shares of stock or other securities or property to which a holder of the number of shares of Common Stock of the Company deliverable upon exercise of this Warrant would have been entitled upon such consolidation, merger or conveyance; and, in any such case, appropriate adjustment (as determined by the Board of Directors of the Company) shall be made in the application of the provisions herein set forth with respect to the rights and interest thereafter of the holder of this Warrant, to the end that the provisions set forth herein shall thereafter be applicable, as nearly as reasonable may be, in relation to any shares of stock or other property thereafter deliverable upon the exercise of this Warrant.

 

d.  NO IMPAIRMENT. THE COMPANY WILL NOT, THROUGH ANY REORGANIZATION, TRANSFER OF ASSETS, CONSOLIDATION, MERGER, DISSOLUTION, ISSUE OR SALE OF SECURITIES OR ANY OTHER VOLUNTARY ACTION, AVOID OR SEEK TO AVOID THE OBSERVANCE OR PERFORMANCE OF ANY OF THE TERMS TO BE OBSERVED OR PERFORMED HEREUNDER BY THE COMPANY, BUT WILL AT ALL TIMES IN GOOD FAITH ASSIST IN THE CARRYING OUT OF ALL THE PROVISIONS OF THIS SECTION 10 AND IN THE TAKING OF ALL SUCH ACTION AS MAY BE NECESSARY OR APPROPRIATE IN ORDER TO PROTECT THE EXERCISE RIGHTS OF THE HOLDER OF THIS WARRANT AGAINST IMPAIRMENT.

e.           Issue Taxes. The Company shall pay any and all issue and other taxes that may be payable in respect of any issue or delivery of shares of Common Stock on exercise of this Warrant, in whole or in part; provided, however, that the Company shall not be obligated to pay any transfer taxes resulting from any transfer requested by any holder in connection with any such exercise.

f.           Reservation of Stock Issuable Upon Conversion. The Company shall at all times reserve and keep available out of its authorized but unissued shares of Common Stock, solely for the purpose of effecting the exercise of this Warrant, such number of its shares of Common Stock as shall from time to time be sufficient to effect the exercise of this Warrant; and if at any time the number of authorized but unissued shares of Common Stock shall not be sufficient to effect the exercise of this Warrant, the Company will take all appropriate corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of Common Stock to such number of shares as shall be sufficient for such purpose.

 

g.           Fractional Shares. This Warrant may be exercised only for a whole number of shares of Common Stock, and no fractional shares or scrip representing fractional shares shall be issuable upon the exercise of this Warrant.

6.           Certain Distributions. In case the Company shall, at any time after the date on which the Holder converts the debt owed to it under the Note into Debt Conversion Shares and prior to the Expiration Date set forth in Section 1 hereof, declare any distribution of its assets to holders of its Common Stock as a partial liquidation, distribution or by way of return of capital, other than as a dividend payable out of earnings or any surplus legally available for dividends, then the Holder shall be entitled, upon the proper exercise of this Warrant in whole or in part prior to the effecting of such declaration, to receive, in addition to the shares of Common Stock issuable on such exercise, the amount of such assets (or at the option of the Company a sum equal to the value thereof at the time of such distribution to holders of Common Stock as such value is determined by the Board of Directors of the Company in good faith), which would have been payable to the Holder had it been a holder of record of such shares of Common Stock on the record date for the determination of those holders of Common Stock entitled to such distribution.

7.           Dissolution or Liquidation. In case the Company shall, at any time after the date on which the Holder converts the debt owed to it under the Note into Debt Conversion Shares and prior to the Expiration Date set forth in Section 1 hereof, dissolve, liquidate or wind up its affairs, the Holder shall be entitled, upon the proper exercise of this Warrant in whole or in part and prior to any distribution associated with such dissolution, liquidation, or winding up, to receive on such exercise, in lieu of the shares of Common Stock to which the Holder would have been entitled, the same kind and amount of assets as would have been distributed or paid to the Holder upon any such dissolution, liquidation or winding up, with respect to such shares of Common Stock had the Holder been a holder of record of such share of Common Stock on the record date for the determination of those holders of Common Stock entitled to receive any such dissolution, liquidation, or winding up distribution.

8.           Reclassification or Reorganization. In case of any reclassification, capital reorganization or other change of outstanding shares of Common Stock of the Company (other than a change in par value, or from par value to no par value, or from no par value to par value, or as a result of an issuance of Common Stock by way of dividend or other distribution or of a subdivision or combination), the Company shall cause effective provision to be made so that the Holder shall have the right thereafter by exercising this Warrant, to purchase the kind and amount of shares of Stock and other securities and PROPERTY RECEIVABLE UPON SUCH RECLASSIFICATION, CAPITAL REORGANIZATION OR OTHER CHANGE, BY A HOLDER OF THE NUMBER OF SHARES OF COMMON STOCK WHICH MIGHT HAVE BEEN PURCHASED UPON EXERCISE OF THIS WARRANT IMMEDIATELY PRIOR TO SUCH RECLASSIFICATION OR CHANGE. ANY SUCH PROVISION SHALL INCLUDE PROVISION FOR ADJUSTMENTS WHICH SHALL BE AS NEARLY EQUIVALENT AS MAY BE PRACTICABLE TO THE ADJUSTMENTS PROVIDED FOR IN THIS WARRANT. THE FOREGOING PROVISIONS OF THIS SECTION 8 SHALL SIMILARLY APPLY TO SUCCESSIVE RECLASSIFICATIONS, CAPITAL REORGANIZATIONS AND CHANGES OF SHARES OF COMMON STOCK. IN THE EVENT THAT IN ANY SUCH CAPITAL REORGANIZATION, RECLASSIFICATION, OR OTHER CHANGE, ADDITIONAL SHARES OF COMMON STOCK SHALL BE ISSUED IN EXCHANGE, CONVERSION, SUBSTITUTION OR PAYMENT, IN WHOLE OR IN PART, FOR OR OF A SECURITY OF THE COMPANY OTHER THAN COMMON STOCK, ANY AMOUNT OF THE CONSIDERATION RECEIVED UPON THE ISSUE THEREOF BEING DETERMINED BY THE BOARD OF DIRECTORS OF THE COMPANY SHALL BE FINAL AND BINDING ON THE HOLDER.

9.           Miscellaneous.

a.           Successors and Assigns. The terms and conditions of this Agreement shall inure to the benefit of, and be binding upon, the respective successors and assigns of the parties, except to the extent otherwise provided herein. Nothing in this Agreement, express or implied, is intended to confer upon any party, other than the parties hereto or their respective successors and assigns, any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.

 

b.           Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Washington, without regard to the principles of conflict of laws thereof.

c.           Counterparts; Delivery by Facsimile. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Delivery of this Agreement may be effected by facsimile.

 

d.           Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement.

e.           Notices. Unless otherwise provided, any notice required or permitted hereunder shall be given by personal service upon the party to be notified, by nationwide overnight delivery service or upon deposit with the United States Post Office, by certified mail, return receipt requested and: (i) if to the Company, addressed to Legend Oil and Gas, Ltd., Attn:  James Vandeberg, or at such other address as the Company may designate by notice to each of the Investors in accordance with the provisions of this Section; and (ii) if to the Warranty holder, at the address indicated on the signature pages hereof, or at such other addresses as such Holder may designate by notice to the Company in accordance with the provisions of this Section.

f.           Amendments and Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement may be waived (either generally or in a particular instance and either prospectively or retroactively), only with the written consent of the Company and a majority in interest of the Holders.

 

g.           Entire Agreement. This Agreement and the Note (including the exhibits and schedules hereto), by and between the Company and the Holder, constitute the entire agreement among the parties hereto with respect to the subject matter hereof and thereof and supersede all prior agreements, understandings, negotiations and discussions, whether oral or written, of the parties hereto.

IN WITNESS WHEREOF, the undersigned hereby sets his hand and seal effective as of the 21st   day of January, 2011.

COMPANY:

LEGEND OIL AND GAS, LTD.

By:                                                                           

Printed Name:                                                                                     

Title:                                                                           

HOLDER:

Iconic Investment Co.

By:                                                                           

Printed Name:                                                                                     

Title:                                                                           

Address:                      

  

  

  

EXHIBIT A

NOTICE OF EXERCISE

(To be signed only upon exercise of the Warrant)

1.   The undersigned hereby elects to purchase __________ Shares of SARS Corporation, pursuant to the terms of the attached Warrant.

 

2.   Method of Exercise (Please initial the applicable blank):

 

	
  

	
___

	
The undersigned elects to exercise the attached Warrant by means of a cash payment, and tenders herewith or by concurrent wire transfer payment in full for the purchase price of the shares being purchased, together with all applicable transfer taxes, if any.

 

 

	
  

	
___

	
The undersigned elects to exercise the attached on a cashless basis, and tenders herewith or by concurrent wire transfer payment all applicable transfer taxes, if any, as follows:

 

No. Shares Purchased  ________  X  The Exercise Price  = $ __________ = Exercise Cost

 

 

__Exercise Cost_   =   Number of Shares used in Cashless

 

    Exercise Price

 

No. Shares Purchased – No. of Shares used in Cashless Exercise = _____________  Net No. Shares

 

3.           Please issue a certificate or certificates representing said Shares in the name of the undersigned or in such other name as is specified below:

 

 

                       _______________________________________

 

                                     (Name)

 

                       _______________________________________

 

 

                       _______________________________________

 

                                   (Address)

 

 

4.           The undersigned hereby represents and warrants that the aforesaid Shares are being acquired for the account of the undersigned for investment and not with a view to, or for resale, in connection with the distribution thereof, and that the undersigned has no present intention of distributing or reselling such shares and all representations and warranties of the undersigned set forth in the attached Warrant are true and correct as of the date hereof.

 

____________________________________

 

                                     (Signature)

 

 

Title: _______________________________

 

 

____________________________________

 

(Date

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