Document:

Exhibit
10.2

 

[letterhead of Powszechna
Koso Oszczędności Bonk Polski Spółka Akcyjna]

 

Warsaw, on
December 21, 2020

 

Statement
by PKO BP SA

 

Powszechna Kasa Oszczędności
Bank Polski Spółka Akcyjna with its registered office in Warsaw, ul. Puławsko 15, 02-515 Warszawa, entered
in the National Court Register maintained by the District Court for the Capital City of Warsaw, under KRS number 0000026438, (tax
identification number) NIP: 525-000-77-38, (statistical identification number) REGON: 016298263; paid-in capital of PLN 1,250,000,000.00
(the “PKO BP SA” or a “Party”), pursuant to Art. 95 of the Banking Law Act of August 29, 1997 (consolidated
text in: Journal of Laws [Dz. U.] of 2020, item 1896, as amended), hereby declares that on the basis of agreement no. 97 1020 1026
0000 1702 0388 9318 overdraft facility of May 23, 2019, as amended (the “Facility Agreement”), the Party granted
ASEC Spółka Akcyjna with its registered office in Kraków, ul. Wadowicka 6, 30-415 Kraków, entered in
the National Court Register, maintained by the District Court for Kraków-Śródmieście in Kraków,
XI Commercial Division of the National Court Register under KRS number 0000034383, NIP: 677- 193-09-64, REGON: 351324446, share
capital (paid-in capital) of PLN 4,107,000.00 (the “Borrower” or a “Party”) overdraft facility
(the “Facility”), subject to the following terms and conditions:

 

		1)	Amount and currency of the Facility: USD 1,700,000.00
(in words: one million seven hundred thousand 00/100 US Dollars);

 

		2)	Lending period: from May 23, 2019 to December 22,
2021;

 

		3)	Interest shall be calculated on an annual basis at
a variable rate. The interest rate shall be equal to the reference hundred, i.e. LIBOR 1M plus a margin of PKO BP SA of 1.80 percentage
points, with the proviso that it may not be lower than the margin of PKO BP SA and may not be lower than zero.

 

In the event of late repayment
of the Facility or part thereof, PKO BP SA will charge interest on the outstanding amount for the period from the day following
the day on which the repayment should take place to the day preceding the repayment date at the floating interest rate provided
for overdue loans and loans declared to be immediately due and payable, after the lapse of the notice period, for business purposes,
as specified in a resolution of the Management Board of PKO BP S.A. applicable in the periods, on which interest is calculated
and communicated to clients in a communiqué of PKO BP S.A. made available at the premises of PKO BP S.A., regardless of
any other form of notification.

 

As at December 21, 2020,
the interest rate for the outstanding debt is 11.2% per annum. The detailed rules of charging the interest rate for the Facility
and the past due debt are set out in the Facility Agreement.

 

		4)	PKO BP S.A. has the option to terminate the Facility
Agreement within 30 (in words: thirty) days, or, if there is a threat of the Borrower’s bankruptcy - within 7 (in words: seven)
days, counting from the day following the date of service of the notice of termination to the Borrower.

 

The date of delivery of the
notice of termination of the Facility Agreement shall be deemed the date of service of the notice to the Borrower’s own hands or
by registered mail or courier service against acknowledgement of receipt. In the event that the Borrower fails to receive the statement
of notice of termination of the Facility Agreement sent by PKO BP SA to the Borrower’s last known correspondence address, the statement
on the termination of the Facility Agreement shall be deemed as delivered on the first business day on which the consignment could
have been picked up on the basis of a postal notice (the so-called “letter of advice”).

 

The Parties agreed that
the Borrower shall submit a declaration to the effect that in the event of defaulting on payment of PKO BP S.A.’s receivables under
the Facility Agreement, the Borrower submits itself, for the benefit of PKO BP S.A., to court procedure of enforcement of the payment
of a sum of money up to the amount specified therein, directly from the notarial deed of the statement, in accordance with Art.
777 §1.5 of the Code of Civil Procedure of 17 November 1964 (consolidated text: Journal of Laws [Dz. U.] of 2020, item 1575
as amended) (hereinafter the “Code of Civil Procedure”):

 

		1)	Up to 200% of the amount of the Facility in the currency
of the Facility , i.e. up to USD 3,400,000.00 (in words: three million four hundred thousand 00/100 US Dollars);

 

		2)	The event triggering the obligation to pay the sum
of money shall be a failure to repay the obligations under the Facility Agreement on the due dates as specified in the Facility
Agreement,

 

		3)	Evidence that the event triggering the performance
of the obligation to pay as specified in the enforcement title shall be the submission by PKO BP SA of a statement with the signature
notarised confirming that the Borrower has not paid the amount of the debt to PKO BP SA on the conditions and within the time
limit specified in the Facility Agreement, together with a confirmation that the statement has been sent by registered mail within
the meaning of Article 3 item 23 of Act of November 23, 2012 - Postal Services Law (consolidated text in Journal of Laws [Dz.
U.] of 2020, item 1041, as amended) to the Borrower’s address disclosed in the relevant register as of the date of its posting,
or to the Borrower’s address last known to PKO BP SA;

 

		4)	PKO BP SA may apply for the attaching of the writ
of execution to the statement on submission to court enforcement procedure drawn up in the form of notarial deed many times, no
later than two years after the final repayment date as specified in the Facility Agreement, i.e. by December 22, 2023.

     

     

    

 

In addition, the Parties have agreed
that:

 

		1)	The Borrower shall bear the costs of drawing up the
notarial deed of the statement on submission to court enforcement procedure for payment in cash drawn up in accordance with Article
777 §1 para. 5 of the Code of Civil Procedure;

 

		2)	The copies of the notarial deed may be issued repeatedly
to PKO BP SA and to the Borrower.

 

The statement is issued in order
to prepare the Borrower’s statement on submission to court enforcement procedure in the form of a notarial deed.

 

Corporate
stamp of PKO BP SA. Functional stamps of the authorised staff members.

 

Signed by:

 

	/s/ Anna Żuk-Oklińska	 
	Anna Żuk-Oklińska, Senior Advisor of PKO BP SA	 

 

Signed by:

 

	/s/ Janusz Rudnicki	 
	Janusz Rudnicki, Senior Advisor of PKO BP SAEX-10.1

 Exhibit 10.1 

Executive Severance Policy 

EXECUTIVE SEVERANCE POLICY 

Effective January 1, 2021 

This Executive Severance Policy (this “Policy”) is adopted by the Board of Directors (the “Board”) of Lam Research
Corporation, a Delaware corporation (the “Company”) with an effective date of January 1, 2021. It is intended to comply with ERISA and with all other applicable laws. 

I.    DEFINITIONS 

The following terms referred to in this Policy shall have the following meanings: 

Cause. “Cause” shall mean: (1) an Executive’s willful and continued failure to perform the duties and
responsibilities of his or her position after there has been delivered to the Executive a written demand for performance from the Board which describes the basis for the Board’s belief that the Executive has not substantially performed his or
her duties and responsibilities and provides the Executive with thirty (30) days to take corrective action; (2) any act of personal dishonesty knowingly taken by an Executive in connection with his or her responsibilities as an employee of
the Company with the intention or reasonable expectation that such action may result in substantial financial enrichment of the Executive; (3) an Executive’s conviction of, or plea of guilty or nolo contendere to, any felony; (4) a
willful and knowing act by an Executive which constitutes gross misconduct, including any act by the Executive for which the U.S. Securities & Exchange Commission has precluded the Executive from performing his or her duties; (5) a
willful breach of a material confidentiality or non-compete obligation of the Executive to the Company; or (6) a willful breach by an Executive of a material provision of a Company policy or procedure
(including, without limitation, any of the Company’s policies and procedures prohibiting harassment). Termination for Cause shall not be deemed to have occurred unless, by the affirmative vote of all of the members of the Board (excluding the
Executive and any person who reports to the Executive, if applicable), at a meeting called and held for that purpose (after reasonable notice to the Executive and his or her counsel and after allowing the Executive and his or her counsel to be heard
before the Board), a resolution is adopted finding that in the good faith opinion of such Board members the Executive was guilty of conduct set forth in (1), (2), (3), (4), (5) or (6) of this definition, specifying the particulars thereof. 

Change in Control. “Change in Control” shall mean the occurrence of any of the following events: 

(1)    Any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Securities
Exchange Act of 1934, as amended, but excluding any person or group as such terms is used in Rule 13d-1(b) under the Exchange Act) is or becomes the “beneficial owner” (as defined in Rule 13-d-3 under said Act), directly or indirectly, of securities of the Company representing forty percent (40%) or more of the total voting power represented by the
Company’s then outstanding voting securities; 
 (2)    A change in the composition of the Board occurring within a
two-year period, as a result of which sixty percent (60%) or fewer of the directors are Incumbent 

 Executive Severance Policy 

 

 
Directors. “Incumbent Directors” shall mean directors who either (A) are directors of the Company as of the effective date of this Policy, or (B) are elected, or nominated for
election, to the Board with the affirmative votes of at least a majority of the Incumbent Directors at the time of such election or nomination (but shall not include an individual whose election or nomination is in connection with an actual or
threatened proxy contest relating to the election of directors to the Company); 
 (3)    The consummation of a merger
or consolidation of the Company with any other corporation, other than through a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior hereto continuing to represent (either by remaining
outstanding or by being converted into voting securities of the surviving entity) more than fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity outstanding immediately after such
merger or consolidation; or the stockholders of the Company approve a plan of complete liquidation of the Company; or the consummation of a sale or disposition by the Company of all or substantially all the Company’s assets (other than to a
subsidiary or subsidiaries); or 
 (4)    Any other event as determined by the independent members of the Board, in the
sole discretion of the independent members of the Board. 
 Combined Programs. “Combined Programs” means any short-term or
long-term variable compensation program offered by the Company to its executive officers generally (and which are currently the Annual Incentive Program and the Long-Term Incentive Program). “Combined Programs” does not include any other one-time equity or cash award. “Combined Programs” does include any guaranteed payment that is part of an annual compensation program for the Executive. 

Disability. “Disability” shall mean that an Executive is unable to engage in any substantial gainful activity by reasons of
any readily determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuing period of not less than twelve (12) months. A Disability must be certified by a physician approved by the
Company. The date of Disability is the date on which the Disability is incurred. 
 Employment Period. An Executive’s
“Employment Period” shall commence on the date that Executive is appointed to be an Executive Vice President, President or Chief Executive Officer (“CEO”) of the Company and shall end when the Executive’s employment is
terminated as provided in this Policy. 
 ERISA. The Employee Retirement Income Security Act of 1974, as amended. 

Executive. An “Executive” for the purpose of this Policy shall include any position defined by this Policy as a Tier 1
Executive or Tier 2 Executive. 
 Involuntary Termination. “Involuntary Termination” shall mean: 

(1)        a material reduction in the scope of an Executive’s duties or responsibilities (other
than for Cause or as a result of death or Disability) combined with (i) in the case of the CEO, the Executive’s ceasing to report directly to the board of directors of a public company, or (ii) in the case of all other Executives
other than the CEO, the Executive’s ceasing to report directly to the chief executive officer of a public company; 

  
 - 2 - 

 Executive Severance Policy 

 

 (2)    a material reduction in an Executive’s base salary and
benefits package, other than (A) a reduction in base salary which is part of, and generally consistent with, a general reduction of salaries of all executive officers of the Company and of any party acquiring control of the Company in a Change
in Control, or (B) a change in the Executive’s benefits package that continues to provide the Executive with comparable benefits to those enjoyed prior to the change; 

(3)    a material reduction by the Company in an Executive’s current Target Total Direct Compensation, other than:
(A) any such reduction applicable to all executive officers of the Company and any party acquiring control of the Company in a Change in Control generally or (B) any such reduction resulting from a drop in the Company’s stock price.
For purposes of the foregoing, Target Total Direct Compensation means current annual base salary plus current annual benefits plus current annual target amounts under the Combined Programs, and to the extent that Target Direct Compensation includes
equity awards, the value of such equity shall be determined at the time of grant; 
 (4)    the relocation of the
Company’s principal executive office to a location more than fifty (50) miles from its present location but only if the Executive is required to change his or her principal place of employment to such new location; 

(5)    any termination of an Executive’s employment by or at the request of the Company other than for Cause,
Disability or death; 
 (6)    the failure of the Company to obtain the assumption of this Policy by any successors
contemplated in this Policy; or 
 (7)    any material breach by the Company of any material provision of this Policy;

 provided, however, that: 

(i)    none of the foregoing actions shall constitute Involuntary Termination if the Executive has agreed thereto; and

 (ii)    except with respect to an event described in paragraph (5) above, the foregoing actions shall constitute
Involuntary Termination only if and to the extent that (x) within 90 days of the occurrence of the events giving rise to an Involuntary Termination, the Executive provides written notice to the Company setting forth in reasonable detail such
facts which the Executive believes constitute Involuntary Termination, and (y) any circumstances constituting Involuntary Termination remain uncured for a period of thirty (30) days following the Company’s receipt of such written
notice (the “Company Cure Period”), and (z) the Termination Date occurs within one hundred and eighty (180) days following the initial existence of the event giving rise to an Involuntary Termination. 

  
 - 3 - 

 Executive Severance Policy 

 

 Policy Administrator. “Policy Administrator” means the Compensation and
Human Resources Committee of the Board, except with respect to any provisions of the Policy pertaining to the Chief Executive Officer, in which case the independent members of the Board shall have the powers of the Policy Administrator. 

Termination Date. Except as may otherwise be provided for in the event of a Change in Control, “Termination Date” shall mean:

 (1)    In the case of a termination for Cause, the last day of the thirty (30) day cure period defined in the
definition of Cause, unless the reason for such termination is cured by the Company; 
 (2)    In the case of a
Company-initiated Involuntary Termination, the last day of the notice period required under section II.2(A)ii, or such earlier date at which the Company waives notice and pays the Executive in lieu of such notice; 

(3)     In the case of an Executive’s Voluntary Resignation or of an Involuntary Termination initiated by an
Executive, the last day of the applicable notice period required under section II.2(B)(ii) or section II.2(B)(i), as applicable, or such earlier date at which the Company waives notice and pays the Executive in lieu of such notice; 

(4)    In the case of Executive’s death, the date of such death; and 

(5)    In the case of Executive’s Disability, the date of such Disability. 

Notwithstanding the foregoing, in the event of an Involuntary Termination that would provide benefits in connection with an Acquisition as set
forth in Section V.2 of this Policy, if the Termination Date would otherwise have occurred prior to the Acquisition, the Termination Date shall take place on the date of the Acquisition so that the benefits will not accrue unless the Acquisition
occurs. If more than one Termination Date may apply, then the priority provisions of Section II.3 of this Policy shall determine which Termination Date controls. All payments under this Policy will be calculated as of the applicable Termination Date
unless otherwise agreed to in writing by the Company. The Company and the Executive shall take all steps necessary to ensure that any termination described in this Policy constitutes a “separation from service” within the meaning of
Section 409A of the Internal Revenue Code (the “Code”), and notwithstanding anything to the contrary, the date on which such separation from service takes place shall be the Termination Date. 

Tier 1 Executive. A “Tier 1 Executive” for the purpose of this Policy shall include only the following positions: 

(1)    the CEO; 

(2)    the President; or 

(3)    any Executive Vice President. 

For avoidance of doubt, these refer only to corporate titles, not to any regional titles. 

  
 - 4 - 

 Executive Severance Policy 

 

 Tier 2 Executive. A “Tier 2 Executive” for the purpose of this Policy shall
include only the following positions: 
 (1)    any Senior Vice President; and 

(2)    such other individuals as are identified by the Policy Administrator. 

Voluntary Resignation. “Voluntary Resignation” shall mean Executive’s termination of his or her employment at any time,
for any reason, by the Executive, other than by reason of Involuntary Termination, death or Disability. 
 II.    NATURE
AND TERMINATION OF EXECUTIVE’S EMPLOYMENT 
 1.     At will employment. Executives are “at will”
employees of the Company and either the Company or an Executive may terminate such Executive’s employment at any time, for any reason, or for no reason, with or without cause. This Policy does not guarantee employment to the Executive, it only
specifies what compensation will be paid to the Company’s Executives in certain circumstances. 
 2.     
Termination of employment. An Executive’s employment with the Company may be terminated as follows: 

(A)    By the Company. 

(i)     The Company may terminate the Executive’s employment for Cause by giving the Executive thirty
(30) days’ advance written notice, subject, however, to the Executive’s opportunity to cure any ongoing breach, which is capable of being cured, giving rise to the Company’s for Cause decision. 

(ii)     The Company may terminate the Executive’s employment with the Company for any reason other than Cause,
death or Disability, by giving the Executive ninety (90) days’ advance notice in writing. The Company may choose to pay the Executive the compensation Executive would have otherwise received during such ninety (90) day period in lieu
of providing such notice. Such a termination shall be regarded as an Involuntary Termination of the Executive. Any waiver of notice shall be valid only if it is made in writing and expressly refers to the applicable notice requirement of this
Section. 
 (B)    By the Executive. 

(i)     Involuntary Termination. The Executive may terminate his or her employment with the Company by reason of
Involuntary Termination by giving the Company thirty (30) days’ advance written notice, subject, however, to the Company’s ability to cure any Involuntary Termination event during the Company Cure Period defined in this Policy. 

(ii)     Voluntary Resignation. The Executive may tender his or her Voluntary Resignation by giving the Company
ninety (90) days’ advance written notice, which period may be waived or reduced at the Company’s option. Executive’s Employment shall terminate at the end of the notice period or such shorter period as reduced by the Company. Any
waiver or reduction of notice shall be valid only if it is made in writing or by electronic mail. 

  
 - 5 - 

 Executive Severance Policy 

 

 (C)    By Death. The Executive’s employment shall terminate
immediately in the event of his or her death. 
 (D)    By Disability. The Executive’s employment shall
terminate immediately in the event of his or her Disability. 
 3.     Priority of Rights and Obligations upon
Termination. If any event leading to or permitting termination of Executive’s employment, or providing notice thereof, occurs at approximately the same time as any other termination event or during any termination notice period, and those
events invoke different notice periods or different severance or other benefit arrangements, the deadlines, obligations, rights and benefits applicable to the termination event having the highest priority shall control. The priority of termination
events (from highest to lowest priority) is as follows: (1) termination for Cause; (2) Voluntary Resignation; (3) Involuntary Termination; (4) Disability; and (5) death. For example, if Executive gives notice of his or her
Voluntary Resignation and, before the 90 day notice period has expired, he or she is subject to an Involuntary Termination, only the rights and benefits available to him or her for Voluntary Resignation apply since the provisions governing Voluntary
Resignation have a higher priority than those applicable to Involuntary Termination. Similarly, if the Executive has been subject to an Involuntary Termination and dies during the notice period, he or she shall have the rights and benefits available
to his or her estate as one subject to an Involuntary Termination. 
 III.    EXPENSES AND COMPANY PAYMENTS 

1.    Reimbursement of Business Expenses. Upon Termination for any reason, the Company shall reimburse the
Executive for all reasonable and necessary business expenses incurred by the Executive in the performance of his or her duties to the Company upon proper submission of expense reports in accordance with Company policies regarding such reimbursement.
Such reimbursement obligation applies regardless of any reason for terminating Executive’s employment. 

2.    Compensation Recovery. Except for the reimbursement of business expenses, any amount that is paid to the
Executive by the Company under this Policy shall be subject to any applicable Company compensation recovery policy, as existing at the time of Termination of Executive’s employment. 

IV.    BENEFITS UPON A CHANGE IN CONTROL 

If a Change in Control (as defined in this Policy) occurs during the Employment Period, an Executive shall be entitled to receive only the
benefits described in the Company’s Executive Change in Control Policy. To the extent the Company’s Executive Change in Control Policy provides for benefits to an Executive in the event of a Change in Control, such Executive is entitled to
receive such benefits pursuant to the Executive Change in Control Policy only and is not entitled to any such benefits pursuant to this Policy. 

  
 - 6 - 

 Executive Severance Policy 

 

 V.    SEVERANCE BENEFITS OTHER THAN IN A CHANGE IN CONTROL 

1.     Benefits; Miscellaneous. In the event of any termination of Executive’s employment at any time,
(a) the Company shall pay the Executive any unpaid base salary due for periods through the Termination Date; and (b) any amounts due to Executive under Section III.1 of this Policy. These payments shall be made promptly at the
Company’s next scheduled payroll date or such earlier time as may be required by law. 
 2.    Benefits in
Connection with an Acquisition. If, during the term of this Policy, the Company acquires any other corporation, whether by merger, purchase of a majority of shares, purchase of substantially all of the assets, or other reorganization (an
“Acquisition”), and an Involuntary Termination of an Executive’s employment occurs during the period starting on the date of the initial public announcement of the Acquisition and ending on the date that is twenty-four
(24) months following the consummation of the Acquisition, then: 
 (A)     Within sixty (60) days following
the Termination Date, the Company shall pay the Executive a lump sum equal to the sum of: 
 (i)     A multiple of base
salary (without giving effect to any salary reduction program then in effect) equal to 
 (a)     two
(2) times annual base salary for the CEO and 
 (b)     one and
one-half (1 1⁄2) times annual base salary for other Executives, plus 

(ii)     Any unpaid reasonable and necessary business expenses incurred by the Executive in the performance of his or her
duties to the Company upon proper submission of expense reports in accordance with Company policies regarding such reimbursement, plus 

(iii)    the product of (x) 2.0 for the CEO and 1.5 for other Executives, and (y) an amount equal to the average of
the annual short-term variable compensation program (currently the Annual Incentive Program and together with any future short-term variable compensation program, collectively hereinafter referred to as the “Short-Term Program”) payments
earned by the Executive from the Company over the last five (5) years in which the Executive was employed with the Company on December 31st of such year (the “Five-Year Average
Amount”)1, plus 
  

	1 	 If there are fewer than five years in which the Executive was employed with the Company on December 31st of such year, then the average shall be computed based on such fewer number of years. If the Executive received a partial year Short-Term Program payment in any year included in the Five-Year
Average Amount due to being a new hire, such partial year payment shall be annualized for purposes of the calculation of the Five-Year Average Amount. Any guaranteed bonus payment paid to the Executive shall be included in the calculation of the
Five-Year Average Amount, unless such payment was a one-time event (such as a sign-on bonus for a new hire). 

  
 - 7 - 

 Executive Severance Policy 

 

 (iv)     a pro-rata amount
(based on the number of full calendar months worked during the calendar year during which the Termination Date occurs) of the Five-Year Average Amount. 

(B)     If at the Termination Date, payment has not been made under the Short-Term Program that was in effect during the
calendar year prior to the year in which the Termination Date occurs, the Company shall pay to the Executive, not later than March 15th
of the year in which the Termination Date occurs, the full amount he or she would have earned under such prior-year Program (based on the performance results achieved under such program), as if his or her employment had not been
terminated. 
 (C)     If the Executive qualifies for participation in the Company’s Retiree Health Plan prior to
the Termination Date, then the Executive will receive the benefits he or she qualifies for under the Retiree Health Plan or, if such plan has been terminated prior to the Termination Date, within sixty (60) days following the Termination Date,
the Company shall pay the Executive a lump sum amount (the “Medical Plan Payment”) equal to the present value of the benefits for which the Executive qualified prior to the termination of such plan. The present value of such benefits shall
be determined actuarially based on the actual cost of replacing the benefits as of the Termination Date. If the Executive does not qualify for participation in the Retiree Health Plan prior to the Termination Date, within sixty (60) days
following the Termination Date, the Company shall pay in a lump sum any COBRA premiums the Executive would be required to pay for the COBRA benefits selected by Executive for twelve (12) months after the Executive’s Termination Date if
Executive has provided less than twenty (20) years of service to the Company and for eighteen (18) months after Executive’s Termination Date if Executive has provided twenty (20) or more years of service to the Company. All
Company 401(k) Plan benefits, Elective Deferred Compensation Plan benefits and other benefits not specifically addressed in this Policy shall be treated in accordance with the terms of such plans and benefits. 

(D)     The unvested portion(s) of any stock options or Restricted Stock Units (“RSUs”), that are solely service
based, which were granted to Executive prior to the Acquisition shall automatically be accelerated in full so as to become completely vested as of the Termination Date. 

(i)     The Company will issue the shares underlying the RSUs within sixty (60) days of the Termination Date. 

(ii)     The stock options vested under this paragraph (D) shall remain exercisable for two years following the
Termination Date unless they are earlier exercised or expire pursuant to their original terms. 
 (E)     For any
Market-Based Performance RSU (which is a type of RSU provided by the Company to the Executive with the number of shares paid based on the relative performance of the total stockholder return of the Company’s common stock compared to that of a
designated comparison group )(“mPRSU”) or performance-based RSU (which is a performance-based RSU other than a mPRSU)(“PRSU”) awards outstanding at the time of the Acquisition, the mPRSU and/or PRSU shall be converted into a cash
payment (the “Acquisition 

  
 - 8 - 

 Executive Severance Policy 

 

 
Cash Payment”). The number of mPRSUs that convert into the Acquisition Cash Payment shall be the sum of the “performance pro rata” number of shares and the “target pro
rata” number of shares, each determined as specified below. This sum shall be multiplied by the closing price of the Company’s common stock as of the closing date of the Acquisition to determine the dollar amount of the Acquisition Cash
Payment. The Acquisition Cash Payment shall be paid out to the Executive within sixty (60) days following the Termination Date. Any remaining portion of the mPRSUs that are not converted into an Acquisition Cash Payment shall be cancelled. For
the avoidance of doubt, mPRSUs and PRSUs shall not receive the treatment outlined in subsection (D), which applies to stock options and RSUs that are solely service-based. 

(i)     Performance Pro Rata. The Target Number of mPRSUs/PRSUs (as set forth in the mPRSU/PRSU Award Agreement)
shall be multiplied by the total number of days from the first day of the Performance Period (as defined in the mPRSU/PRSU Award Agreement) until the earlier of the closing date of the Acquisition or the last day of the Performance Period divided by
the number of days in the Performance Period (“Elapsed Target Shares”). The Company’s performance under the Vesting Formula (as set forth in the mPRSU/PRSU Award Agreement) from the first day of the Performance Period until the
closing date of the Acquisition shall be applied to the Elapsed Target Shares to determine the “performance pro rata” number of shares. 

(ii)    Target Pro Rata. The Target Number of mPRSUs/PRSUs (as set forth in the mPRSU/PRSU Award Agreement) shall
be multiplied by the total number of days from the day following the closing date of the Acquisition until the last day of the Performance Period (but not less than zero) divided by the number of days in the Performance Period to determine the
“target pro rata” number of Shares. 
 3.    Benefits Other Than in Connection with a Change in Control or
Acquisition. In the event of a termination other than one covered by the Company’s Executive Change in Control Policy or one covered by Section V.2 above, Executive shall be entitled to severance benefits that vary depending upon the reason
for termination; provided that the Executive signs the Company’s then current settlement and release agreement and abides by all of its contractual obligations. Such benefits shall be as follows (and no other benefits shall be provided): 

(A)    Voluntary Resignation Severance Benefits. If an Executive’s employment terminates due to his or her
Voluntary Resignation, he or she shall receive the following benefits under this Policy, subject to its terms and conditions. 
 (i)
    Base salary shall cease on the Termination Date. The Executive shall not be entitled to any further payment pursuant to the Short-Term Program following termination. 

(ii)     All medical and health benefits shall cease on the Termination Date, except as specified in any then existing
Retiree Health Plan for which the Executive qualifies or as required under applicable law. All Company 401(k) Plan benefits, Elective Deferred Compensation Plan benefits, COBRA benefits and other benefits not specifically addressed in this Policy
shall be treated in accordance with the terms of such plans and benefits. 

  
 - 9 - 

 Executive Severance Policy 

 

 (iii)     Stock options will cease to vest on the Termination Date and
will be cancelled ninety (90) days after the Termination Date (unless they are exercised or expire pursuant to their terms before cancellation, or unless the award agreement for such stock options provides for a longer post-termination exercise
period). RSUs (whether service based, mPRSUs, PRSUs or otherwise) will be cancelled on the Termination Date. 

(B)    Involuntary Termination Severance Benefits. If a Tier 1 Executive’s employment terminates due to his or
her Involuntary Termination, he or she shall receive the following benefits under this Policy, subject to any terms and conditions set forth herein. For the avoidance of doubt, if a Tier 2 Executive’s employment terminates due to his or her
Involuntary Termination, he or she shall not receive any benefits under this Section V.3(B). 
 (i)     Within sixty
(60) days following the Termination Date, the Company shall pay (x) to the CEO, a lump sum equal to one and one-half (1
1⁄2) times his or her current base salary (without giving effect to any salary reduction program then in effect) or, to any other Executive governed by this Policy,
one (1) year of his or her current base salary (without giving effect to any salary reduction program then in effect), plus (y) an amount equal to the Five-Year Average Amount for the CEO or one-half
of the Five-Year Average Amount to any other Executive. 
 (ii)     At the time that the Company makes payments to
other executive officers under the Short-Term Program that is in effect during the calendar year in which the Termination Date occurs (or if none, then no later than March 15th in the year following the Termination Date), the Company shall pay the
Executive a pro-rata portion of the amount he or she would have earned under such program had his or her employment continued until the end of such calendar year, such
pro-rata portion to be calculated based on the performance results achieved under such program and the number of full calendar months elapsed prior to the Termination Date. 

(iii)     If, at the Termination Date, payment has not been made under the Short-Term Program that was in effect during
the calendar year prior to the year in which the Termination Date occurs, the Company shall pay to the Executive, not later than March 15th of the year in which the Termination Date occurs, the
full amount he or she would have earned under such prior-year program (based on the performance results achieved under such program), as if his or her employment had not been terminated. 

(iv)     If the Executive qualifies for participation in the Company’s Retiree Health Plan prior to the Termination
Date, then the Executive will receive the benefits he or she qualifies for under the Retiree Health Plan or, if such plan has been terminated prior to the Termination Date, within sixty (60) days following the Termination Date, the Company
shall pay the Executive the Medical Plan Payment. The present value of such benefits shall be determined actuarially based on the actual cost of replacing the benefits as of the Termination Date. If the Executive does not qualify for participation
in the Retiree Health Plan prior to the Termination Date, within sixty (60) days following the Termination Date, the Company shall pay in a lump sum any COBRA premiums the Executive would be required to pay for the COBRA benefits selected by
Executive for twelve (12) months after the Executive’s Termination Date if Executive has provided less than twenty (20) years of service to the Company and for eighteen 

  
 - 10 - 

 Executive Severance Policy 

 

 
(18) months after Executive’s Termination Date if Executive has provided twenty (20) or more years of service to the Company. All Company 401(k) Plan benefits, Elective Deferred
Compensation Plan benefits and other benefits not specifically addressed in this Policy shall be treated in accordance with the terms of such plans and benefits. 

(v)     For any stock options/RSUs, which are solely service based, that were granted to the Executive twelve
(12) months or more before the Termination Date, a number of shares shall vest (and for stock options, become exercisable as of the Termination Date) such that the total number of shares vested on the Termination Date shall equal a pro-rata percentage of the total number of shares subject to such grant (based on the number of full months worked during the vesting schedule)2. The stock
options shall remain exercisable for two years following the Termination Date unless they are earlier exercised or expire pursuant to their original terms or unless they are exchanged for cash in connection with any Change in Control. The Company
will issue the shares underlying the RSUs to the Executive within sixty (60) days following the Termination Date. In addition, the Compensation Committee may, in its discretion, accelerate the vesting of additional stock options or RSUs held by
the Executive. 
 (vi)     In the event of an Involuntary Termination prior to the Performance Vesting Date (as
defined in the mPRSU/PRSU Award Agreement), a portion of the mPRSUs/PRSUs shall convert into a cash payment (the “Involuntary Termination Cash Payment”). The Involuntary Termination Cash Payment shall be determined by multiplying the
Target Number of mPRSUs/PRSUs (as set forth in the mPRSU/PRSU Award Agreement) by the total number of days from the first day of the Performance Period (as defined in the mPRSU/PRSU Award Agreement) until the earlier of (i) the Termination Date
or (ii) the last day of the Performance Period, divided by the number of days in the Performance Period (as defined in the mPRSU/PRSU Award Agreement) (the “Termination Target Shares”). The Company’s performance under the Vesting
Formula (as set forth in the mPRSU/PRSU Award Agreement) from the first day of the Performance Period until the earlier of (i) the Termination Date or (ii) the last day of the Performance Period shall be determined using the Termination
Target Shares in lieu of the Target Number of mPRSUs/PRSUs to determine the number of shares to convert into the Involuntary Termination Cash Payment. This number of shares shall be multiplied by the closing price of the Company’s common stock
as of the Termination Date to determine the dollar amount of the Involuntary Termination Cash Payment. The Involuntary Termination Cash Payment will be paid to the Executive within sixty (60) days following the Termination Date. Any remaining
portion of the mPRSUs/PRSUs that are not converted into an Involuntary Termination Cash Payment shall be cancelled. 
  

 

	2 	 For example, if a stock option has a four (4) year vesting schedule where 25% of the options vest on each
anniversary of the grant date, an Executive whose Termination Date is twenty- seven (27) months and a day after grant will already have vested in 50% of the total option, and will vest in an additional 6.25% (3/48) of the total option by virtue
of this section. No additional vesting shall occur beyond this additional amount. For the avoidance of doubt, a “full month worked” for a date of grant occurring on the 15th day of a month will occur when service is provided through the
14th day of the following month. Any fractional shares will be rounded down to the nearest whole share. 

  
 - 11 - 

 Executive Severance Policy 

 

 For the avoidance of doubt, mPRSUs/PRSUs shall not receive the treatment outlined in subpart
(B)(v) for stock options and RSUs that are solely service based. 
 (C)    Severance Benefits following a termination
for Cause. If an Executive’s employment is terminated for Cause, he or she shall receive the following benefits under this Policy, subject to its terms and conditions. 

(i)    If Executive is terminated for Cause, base salary shall cease on the Termination Date. Executive shall not be
entitled to any further payment or accruals pursuant to the Short-Term Program following termination. 
 (ii)     All
medical and health benefits shall cease on the Termination Date, except as specified in any then existing Retiree Health Plan for which Executive qualifies or as required by applicable law. All Company 401(k) Plan benefits, Elective Deferred
Compensation Plan benefits and other benefits not specifically addressed in this Policy shall be treated in accordance with the terms of such plans and benefits. 

(iii)     Stock options will cease to vest on the Termination Date and any vested options will be cancelled thirty
(30) days after the Termination Date (unless they are exercised or expire pursuant to their terms before cancellation). RSUs, mPRSUs, PRSUs will be cancelled on the Termination Date. 

(D)     Death Severance Benefits. If an Executive’s employment terminates due to his or her death, the
following benefits shall be payable under this Policy, subject to its terms and conditions. 
 (i)     The
Executive’s base salary shall terminate immediately on the date of his or her death. 
 (ii)     If the Executive
is a Tier 1 Executive, at the time that the Company makes payments to other executive officers under the Short-Term Program that is in effect during the calendar year in which the Termination Date occurs, the Company shall pay the Tier 1
Executive’s estate a pro-rata portion of the amount he or she would have earned under such program had his or her employment continued until the end of such calendar year, such pro-rata portion to be calculated based on the performance results achieved under such program and the number of full calendar months elapsed prior to the Termination Date. 

(iii)     If the Executive is a Tier 1 Executive and, at the Termination Date, payments have not been made under the
Short-Term Program that was in effect during the calendar year prior to the year in which the Termination Date occurs, the Company shall pay to the Tier 1 Executive’s estate, not later than March 15th of the year in which the Termination Date
occurs, the full amount he or she would have earned under such prior-year program (based on the performance results achieved under such program), as if his or her employment had not been terminated. 

(iv)     If the Executive is a Tier 1 Executive and the Tier 1 Executive qualifies for participation in the
Company’s Retiree Health Plan prior to the Termination Date, then the Tier 1 Executive’s eligible dependents will receive the benefits they qualify for under 

  
 - 12 - 

 Executive Severance Policy 

 

 
the Retiree Health Plan, or if such plan has been terminated prior to the Termination Date, within sixty (60) days following the Termination Date, the Company shall pay the eligible
dependents the Medical Plan Payment. If the Tier 1 Executive does not qualify for participation in the Retiree Health Plan prior to the Termination Date, within sixty (60) days following the Termination Date, the Company shall pay in a lump sum
any COBRA premiums the Tier 1 Executive’s estate would be required to pay for the COBRA benefits selected by the Tier 1 Executive’s estate for the Tier 1 Executive’s eligible dependents for twelve (12) months after the Tier 1
Executive’s Termination Date if the Tier 1 Executive has provided less than twenty (20) years of service to the Company and for eighteen (18) months after the Tier 1 Executive’s Termination Date if the Tier 1 Executive has
provided twenty (20) or more years of service to the Company. All Company 401(k) Plan benefits, Elective Deferred Compensation Plan benefits and other benefits not specifically addressed in this Policy (including, without limitation, life
insurance provided by the Company) shall be treated in accordance with the terms of such plans and benefits. 
 (v)
    Any stock options/RSUs, which are solely service-based, that are granted to the Executive before the Termination Date, shall be accelerated in full so as to become completely vested as of the Termination Date. The stock
options shall remain exercisable for two years following the Termination Date unless they are earlier exercised or expire pursuant to their original terms, or unless they are exchanged for cash in connection with any Change in Control. The Company
will issue the shares underlying the RSUs to the Executive’s estate within sixty (60) days following the Termination Date. In addition, the Compensation Committee may, in its discretion, accelerate the vesting of additional stock options
or RSUs held by the Executive. 
 (vi)     A portion of the mPRSUs/PRSUs shall vest on the Termination Date. To
determine the applicable vesting, the Company’s performance under the Vesting Formula (as set forth in the mPRSU/PRSU Award Agreement) from the first day of the Performance Period until the earlier of (i) the Termination Date or
(ii) the last day of the Performance Period shall be determined using the original Target Number of mPRSUs/PRSUs (as set forth in the mPRSU/PRSU Award Agreement), to determine the number of shares (rounded down to the nearest whole share) which
shall be paid to the Executive’s estate within sixty (60) days of the Termination Date. Any remaining unvested portion of the mPRSUs/PRSUs shall be cancelled. 

(E)    Disability Severance Benefits. If an Executive’s employment terminates due to his or her Disability, he
or she shall receive the following benefits under this Policy, subject to its terms and conditions. 
 (i)     An
Executive’s base salary shall cease when his or her employment terminates based on his or her Disability. 
 (ii)
    If the Executive is a Tier 1 Executive, at the time that the Company makes payments to other executive officers under the Short-Term Program that is in effect during the calendar year in which the Termination Date occurs, the
Company shall pay the Tier 1 Executive a pro-rata portion of the amount he or she would have earned under such program had his or her employment continued until the end of such calendar year, such pro-rata portion to be calculated based on the performance results achieved under such program and the number of full calendar months elapsed prior to the Termination Date. 

  
 - 13 - 

 Executive Severance Policy 

 

 (iii)     If the Executive is a Tier 1 Executive, and, at the
Termination Date, payments have not been made under the Short-Term Program that was in effect during the calendar year prior to the year in which the Termination Date occurs, the Company shall pay the Tier 1 Executive, not later than March 15th of
the year in which the Termination Date occurs, the full amount he or she would have earned under such prior-year program (based on the performance results achieved under such program), as if his or her employment had not been terminated. 

(iv)     If the Executive is a Tier 1 Executive and the Tier 1 Executive qualifies for participation in the
Company’s Retiree Health Plan prior to the Termination Date, then the Tier 1 Executive will receive the benefits he or she qualifies for under the Retiree Health Plan or, if such plan has been terminated prior to the Termination Date, within
sixty (60) days following the Termination Date, the Company shall pay the Tier 1 Executive the Medical Plan Payment. If the Tier 1 Executive does not qualify for participation in the Retiree Health Plan prior to the Termination Date, within
sixty (60) days following the Termination Date, the Company shall pay in a lump sum any COBRA premiums the Tier 1 Executive would be required to pay for the COBRA benefits selected by the Tier 1 Executive for twelve (12) months after the
Executive’s Termination Date if the Tier 1 Executive has provided less than twenty (20) years of service to the Company and for eighteen (18) months after the Tier 1 Executive’s Termination Date if the Tier 1 Executive has
provided twenty (20) or more years of service to the Company. All Company 401(k) Plan benefits, Elective Deferred Compensation Plan benefits and other benefits not specifically addressed in this Policy (including, without limitation any
disability insurance benefits provided by the Company) shall be treated in accordance with the terms of such plans and benefits. 
 (v)
    Any stock options/RSUs, which are solely service based, that are granted to the Executive before the Termination Date, shall be accelerated in full so as to become completely vested as of the Termination Date. The stock
options shall remain exercisable for two years following the Termination Date unless they are earlier exercised or expire pursuant to their original terms, or unless they are exchanged for cash in connection with any Change in Control. The Company
will issue the shares underlying such RSUs to the Executive within sixty (60) days following the Termination Date. In addition, the Policy Administrator may, in its discretion, accelerate the vesting of additional stock options or RSUs held by
the Executive. 
 (vi)     A portion of the mPRSUs/PRSUs shall vest on the Termination Date. To determine the
applicable vesting, the Company’s performance under the Vesting Formula (as set forth in the mPRSU/PRSU Award Agreement) from the first day of the Performance Period until the earlier of (i) the Termination Date or (ii) the last day
of the Performance Period shall be determined using the original Target Number of mPRSUs/PRSUs (as set forth in the mPRSU/PRSU Award Agreement), to determine the number of shares (rounded down to the nearest whole share) which shall be paid to the
Executive within sixty (60) days of the Termination Date. Any remaining unvested portion of the mPRSUs/PRSUs shall be cancelled. 

  
 - 14 - 

 Executive Severance Policy 

 

 VI.    SUCCESSORS 

1.    Company’s Successors. The Company shall require a successor to the Company (whether direct or indirect
and whether by purchase, lease, merger, consolidation, liquidation or otherwise) or to all or substantially all of the Company’s business and/or assets (each a “Successor Company”) to assume the Company’s obligations under this
Policy and agree expressly to perform such obligations in the same manner and to the same extent as the Company would be required to perform such obligations in the absence of a succession, and provide a copy of such agreement to each Executive. For
all purposes under this Policy, the term “Company” shall include any Successor Company which executes and delivers the assumption agreement described in this subsection 1, or which becomes bound by the terms of this Policy by operation of
law. 
 2.    Executive’s Successors. The terms of this Policy and all rights of the Executive hereunder
shall inure to the benefit of, and be enforceable by, the Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. 

VII.    NOTICE 

1.     General. Notices and all other communications contemplated by this Policy shall be in writing and shall be
deemed to have been duly given when personally delivered or when mailed by Federal Express or a comparable air courier company. In the case of the Executive, notices sent by courier shall be addressed to him or her at the home address that he or she
most recently communicated to the Company in writing. In the case of the Company, notices sent by courier shall be addressed to its corporate headquarters, and all notices shall be directed to the attention of its Chief Legal Officer. 

2.     Notice of Termination. Any termination of an Executive by the Company for Cause, and any notice of
Involuntary Termination of an Executive by the Company pursuant to section II.2(A)(2), shall be communicated by a notice to the Executive as provided above, and any termination by an Executive as a result of a Voluntary Resignation or any
Involuntary Termination shall be communicated by a notice to the Company as provided above. Such notice shall indicate the specific termination provision in this Policy relied upon, shall set forth in reasonable detail the facts and circumstances
claimed to provide a basis for termination under the provision so indicated, and shall specify the Termination Date. 

VIII.    CONFIDENTIALITY AND NON-COMPETE AGREEMENTS 

All payments and benefits under this Policy are conditional upon Executive’s performance in all material respects of his or her
confidentiality and non-compete obligations that he or she may have with the Company, including those provided for in the Company’s standard settlement and release agreement. 

IX.    CLAIMS AND APPEALS PROCEDURES 

1.    Claim for Benefits. Any Executive who believes he or she is entitled to benefits under this Policy in an
amount greater than the amount received may file, or have his or her duly authorized representative file, a claim with the Policy Administrator. Any such claim shall be 

  
 - 15 - 

 Executive Severance Policy 

 

 
filed in writing stating the nature of the claim, and the facts supporting the claim, the amount claimed and the name and address of the claimant. The Policy Administrator shall consider the
claim and answer in writing stating whether the claim is granted or denied. The written decision shall be within 90 days of receipt of the claim by the Policy Administrator (or 180 days if additional time is needed and the claimant is notified of
the extension, the reason therefor and the expected date of determination prior to commencement of the extension). If the claim is denied in whole or in part, the Executive shall be furnished with a written notice of such denial containing
(i) the specific reasons for the denial, (ii) a specific reference to the Policy provisions on which the denial is based, (iii) an explanation of the Policy’s appeal procedures set forth in subsection 2 below, (iv) a
description of any additional material or information which is necessary for the Executive to submit or perfect an appeal of his or her claim, and (v) an explanation of the Executive’s right to submit his or her claim to arbitration or to
bring suit under ERISA following receipt of an adverse decision issued by the arbitrator. 
 2.    Appeal. If an
Executive wishes to appeal the denial of his or her claim, the Executive or his or her duly authorized representative shall file a written notice of appeal to the Policy Administrator within 90 days of receiving notice of the claim denial. In order
that the Policy Administrator may expeditiously decide such appeal, the written notice of appeal should contain (i) a statement of the ground(s) for the appeal, (ii) a specific reference to the Policy provisions on which the appeal is
based, (iii) a statement of the arguments and authority (if any) supporting each ground for appeal, and (iv) any other pertinent documents or comments which the appellant desires to submit in support of the appeal. The Policy Administrator
shall decide the appellant’s appeal within 60 days of its receipt of the appeal (or 120 days if additional time is needed and the claimant is notified of the extension, the reason therefore and the expected date of determination prior to
commencement of the extension). The Policy Administrator’s written decision shall contain the reasons for the decision and reference to the Policy provisions on which the decision is based. If the claim is denied in whole or in part, such
written decision shall also include notification of the Executive’s right to submit his or her claim to arbitration or to bring suit for benefits under Section 502(a) of ERISA following receipt of an adverse decision issued by the
arbitrator, and the Executive’s right to obtain, upon request and free of charge, reasonable access to and copies of all documents, records or other information relevant to the claim for benefits. 

X.    ARBITRATION 

Upon exhaustion of the claims and appeals procedures set forth in Section IX, at the option of the Company or the Executive, any and all
disputes or controversies whether of law or fact and of any nature whatsoever arising from or respecting this Policy shall be decided by arbitration under the rules of the American Arbitration Association in accordance with the rules and regulations
of that Association with the exception of any claim for temporary, preliminary or permanent injunctive relief arising from or respecting the Executive’s invention assignment, confidentiality or
non-compete obligations to Company which may be brought by the Company in any court of competent jurisdiction irrespective of Executive’s desire to arbitrate such a claim. 

The arbitrator shall be selected as follows. In the event the Company and the Executive agree on one arbitrator, the arbitration shall be
conducted by such arbitrator. If the parties cannot agree on an arbitrator, the Company and the Executive shall each select one independent, 

  
 - 16 - 

 Executive Severance Policy 

 

 
qualified arbitrator and the two arbitrators so selected shall select the third arbitrator. The Company reserves the right to object to any individual arbitrator who shall be employed by or
affiliated with a competing organization. 
 Arbitration shall take place in San Jose, California, or any other location mutually agreeable
to the parties. At the request of either party, arbitration proceedings will be conducted in the utmost secrecy; in such case all documents, testimony and records shall be received, heard and maintained by the arbitrators in secrecy under seal,
available for the inspection only by the Company and the Executive and their respective attorneys and their respective experts who shall agree in advance and in writing to receive all such information confidentially and to maintain such information
in secrecy unless and until such information shall become generally known. The arbitrator, who, if more than one, shall act by majority vote, shall have the power and authority to decree any and all relief of an equitable nature including, but not
limited to, such relief as a temporary restraining order, a temporary and/or permanent injunction, and shall also have the power and authority to award damages, with or without an accounting and costs, provided, that punitive damages shall not be
awarded, and provided, further, that the Executive shall be entitled to reimbursement for his or her reasonable attorney’s fees to the extent he or she prevails as to the material issues in such dispute. The reimbursement of attorney’s
fees shall be made promptly following delivery of an invoice therefor. The decree or judgment of an award rendered by the arbitrators may be entered in any court having jurisdiction thereof. 

In any such arbitration, the arbitrator(s) may authorize subpoenas to be issued to the parties or to third parties for the production of
evidence that the arbitrator(s) deem relevant and appropriate to the scope of the arbitration. 
 Reasonable notice of the time and place of
arbitration shall be given to all persons, other than the parties, as shall be required by law, in which case such persons or those authorized representatives shall have the right to attend and/or participate in all the arbitration hearings in such
a manner as the law shall require. 
 XI.    EXCISE TAX ON PAYMENTS 

Notwithstanding anything to the contrary contained herein, in the event that any payment by the Company to or for the benefit of an Executive,
whether paid or payable, would be subject to the excise tax imposed by Section 4999 of the Code or any comparable federal, state, or local excise tax (such excise tax, together with any interest and penalties, are hereinafter collectively
referred to as the “Excise Tax”), then the Executive shall receive either the full severance amount or a lesser amount that does not trigger an excise tax, whichever produces a greater after-tax
benefit to the Executive, as determined by the Company. 
 XII.    MISCELLANEOUS PROVISIONS 

1.     Duty to Mitigate. The Executive shall not be required to mitigate the amount of any payment contemplated by
this Policy, nor shall any such payment be reduced by any earnings that the Executive may receive from any other source. 
 2.
    Amendment. This Policy and the documents expressly referred to herein may be altered, modified, or amended by formal action of the Policy Administrator and/or the Board, or

  
 - 17 - 

 Executive Severance Policy 

 

 
the Policy Administrator may determine at any time that any Executive is no longer eligible to receive benefits under this Policy; provided however, that any such amendment or
determination of eligibility that would adversely affect an Executive will not be applicable without such Executive’s consent until the later of (i) eighteen months following the date of such amendment or determination, or
(ii) the end of the Change In Control Protection Period (as defined in the Company’s Executive Change in Control Policy) during which such amendment or determination occurs. No course of conduct or action shall amend the written terms of
this Policy. Nothing herein affects the continued enforceability of either the Company’s Employment, Confidential Information and Invention Assignment Agreement previously executed by an Executive, or an Executive’s Indemnification
Agreement with the Company. Any benefit amounts referenced as payable to an Executive pursuant to this Policy are the sole and exclusive amounts payable to the Executive for the category of benefit addressed by such amounts; provided, however, that
this Policy shall not limit any right of an Executive to receive any payments or benefits under an employee benefit or employee compensation plan of the Company, initially adopted prior to or after the date hereof, which are expressly contingent
thereunder upon the occurrence of a Change in Control (including, but not limited to, the acceleration of any rights or benefits thereunder). 

3.     Choice of Law. The validity, interpretation, construction and performance of this Policy shall be governed
by the laws of the state of California, without regard to conflicts of law provisions thereof. 
 4.
    Severability. If any provision of this Policy is determined to be invalid or unenforceable, the Policy shall remain in full force and effect as to the remaining provisions, and the Policy Administrator shall, in its
discretion, replace the invalid or unenforceable provision with one which reflects the parties’ original intent in agreeing to the invalid/unenforceable one. 

5.     No Assignment of Benefits. Except as otherwise provided herein, the rights of any person to payments or
benefits under this Policy shall not be made subject to option or assignment, either by voluntary or involuntary assignment or by operation of law, including (without limitation) bankruptcy, garnishment, attachment or other creditor’s process,
and any action in violation of this provision shall be void. 
 6.     Withholding Taxes. The Company may
withhold from any amounts payable under this Policy such Federal, state and local taxes as may be required to be withheld pursuant to any applicable law or regulation. 

7.     Section 409A of the Code. Notwithstanding anything herein to the contrary, if at the time of an
Executive’s termination of employment with the Company, the Company has determined that the Executive is a “specified employee” as defined in Section 409A of the Code and any severance payments and benefits to the Executive under
this Policy are considered a “deferral of compensation” under Section 409A of the Code (the “Deferred Payments”), such Deferred Payments that are otherwise payable within the first six months following the Termination Date
will become payable on the first business day of the seventh month following the Executive’s Termination Date, or if earlier the date of the Executive’s death. In the event that payments under this Policy are deferred pursuant to this
Section XII.7, then such payments shall be paid at the time specified in this Section XII.7 without interest. The Company shall 

  
 - 18 - 

 Executive Severance Policy 

 

 
consult with the Executive in good faith regarding the implementation of the provisions of this Section XII.7; provided, however that neither the Company nor any of its employees or
representatives shall have any liability to the Executive with respect thereto. Any amount under this Policy that satisfies the requirements of the “short-term deferral” rule set forth in
Section 1.409A-1(b)(4) of the Treasury Regulations will not constitute Deferred Payments for purposes of this Policy. Any amounts scheduled for payment hereunder when they are ordinarily paid out or when
they are made to other executive officers, will nonetheless be paid to the Executive on or before March 15th of the year following the year when the payment is no longer subject to a substantial
risk of forfeiture. For purposes of Section 409A of the Code, the right to a series of installment payments under this Policy shall be treated as a right to a series of separate payments, and references herein to the Executive’s
termination of employment shall refer to the Executive’s separation from services with the Company within the meaning of Section 409A of the Code. Notwithstanding anything to the contrary herein, except to the extent any expense,
reimbursement or in-kind benefit provided pursuant to this Policy does not constitute a “deferral of compensation” within the meaning of Section 409A of the Code: (x) the amount of expenses
eligible for reimbursement or in-kind benefits provided to the Executive during any calendar year will not affect the amount of expenses eligible for reimbursement or
in-kind benefits provided to the Executive in any other calendar year, (y) the reimbursements for expenses for which the Executive is entitled to be reimbursed shall be made on or before the last day of
the calendar year following the calendar year in which the applicable expense is incurred, and (z) the right to payment or reimbursement or in-kind benefits hereunder may not be liquidated or exchanged
for any other benefit. 
 8.     Company Release. As a condition to the Company’s obligations pursuant to
this Policy, each Executive agrees to execute a release of claims against the Company (the “Release”), substantially in the form attached hereto as Exhibit A, by the fifty-third (53rd) day following the Executive’s Termination Date.
Except in the case of an Executive’s Death or incapacity due to a Disability, if the Company has not received an irrevocable Release by the sixtieth (60th) day following the Termination Date, the Company shall be under no obligation to make
payments or provide benefits under this Policy; provided such sixty (60) day period shall be tolled during the pendency of any arbitration proceeding under this Policy. In the event of an Executive’s Death or incapacity due to a
Disability, the Company may withhold benefits until the Executive’s estate or legal representative signs an Agreement acceptable to the Policy Administrator which waives claims for additional compensation from the Company. In the event one or
more of the provisions of the Release should, for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions of the Release, and the Release shall
be construed as if such invalid, illegal or unenforceable provision had never been contained therein.  
 9.
    Whistleblower Laws and Governmental Investigations. Nothing in this Policy prevents the Executive from providing, without prior notice to the Company, information to governmental authorities regarding possible legal
violations or otherwise testifying or participating in any investigation or proceeding by any governmental authorities regarding possible legal violations. 

  
 - 19 - 

 Executive Severance Policy 

 

 10. Foreign Laws. The Committee shall administer the Policy with respect to all Non-US Participants in a manner designed to comply with applicable law while preserving the benefits provided under the Policy and avoiding duplication of benefits. 

  
 - 20 - 

 EXHIBIT A 

COMPANY RELEASE 

 LAM RESEARCH CORPORATION RELEASE 

This Release (“Release”) constitutes a binding agreement between you,
                    [EMP
NAME]                    , Lam Employee
No.                     [EE
I.D.]                    , and Lam Research Corporation (“Lam” or “the Company”). Please review the terms carefully. We
advise you to consult with an attorney concerning its terms. 
 1.    This Release is provided to Lam pursuant to Lam’s Executive
Severance Policy (the “Policy”). You understand that if you choose not to sign this Release, as provided in the Policy Lam has no obligation to make any payments or provide any benefits provided in the Policy. 

2.    You understand that your obligations under the Confidential Information and Invention Assignment Agreement, or similarly titled
agreement, you signed at the beginning of your employment with Lam are ongoing and binding and survive the termination of your employment with Lam, regardless of whether you sign this Release. 

3.    If you agree to this Release, you will be eligible to receive the payments and benefits provided in the Policy. You must sign
and return this Release within fifty-three (53) days, and it must become irrevocable (as discussed in Sections 4.E. and 8 below), within sixty (60) days of your Termination Date (as defined in the Policy). You may, at your discretion, sign
and return the Release sooner. You are hereby advised to consider the terms of this Release and consult with an attorney of your choice prior to executing this Release. Lam is under no obligation to pay any amounts or provide any benefits under the
Policy until such release is irrevocable. Lam will make such payments and provide such benefits under the Policy as soon as practicable, in accordance with the terms of the Policy and in accordance with IRC Section 409A and accompanying
Treasury Regulations (although Lam makes no representation about any specific tax treatment applicable to you). Neither Lam nor the Executive shall have the right to accelerate or defer the delivery of any payments or provision of any benefits
except as specifically permitted or required by Section 409A. 
 4.    In exchange for and in consideration of the payments and
benefits provided for in the Policy, you agree to, and agree to abide by, the following terms: 
  

	 	A.	 Release. You hereby waive and release, and promise never to assert, any and all claims, except workers
compensation or unemployment compensation claims, that you have, or may have at any time, against Lam and its predecessors, subsidiaries, related entities, and their officers, directors, shareholders, agents, attorneys, employees, benefit plans,
successors, or assigns (collectively “Released Parties”) at all or, specifically, arising from or related to your employment with Lam and/or the termination of your employment with Lam. These claims include, but are not limited to, all
claims arising under federal, state, and/or local statutory or common law, including, but not limited to, claims of wrongful or constructive discharge or demotion, breach of contract (written, oral or implied), breach of the covenant of good faith
and fair dealing, violation of public policy, defamation, personal injury, emotional distress, claims under Title VII of the 1964 Civil Rights Act, as amended, the California Fair Employment and Housing Act (or comparable provision under any other
state’s law), the Equal Pay Act of 1963, California Labor Code Section 1197.5 (or comparable provision under any other state’s law), the Age Discrimination in Employment Act of 1967, as amended, the Older Workers Benefit Protection
Act (OWBPA), the Americans with Disabilities Act (ADA), the Civil Rights Act of 1866, the Family and Medical Leave Act (FMLA), the Worker Adjustment and Retraining Notification (WARN) Act, California Labor Code Section 1400 et seq., and any
other laws, regulations, or ordinances relating to employment or employment discrimination, and the laws of contract and tort, to the full extent permitted by law. You are, through this Release, releasing the Company from any and all claims you may
have against the Company, including claims under the Age Discrimination in Employment Act of 1967, 29 U.S.C. §621, et seq. (ADEA) with the exception of (i) your right to receive the payments provided for in, or to enforce, the Policy and
(ii) any claims you may have pursuant to any written agreement, the Company’s certificate of incorporation or bylaws, or as mandated by statute, to indemnification as a director or officer of the Company; further, rights or claims under
the Age Discrimination in Employment Act that may arise after the date this Release is executed are not waived. 

 Executive understands and agrees that Executive is waiving the right to any monetary
recovery in connection with any complaint or charge that Executive may file with an administrative agency, except with respect to any monetary recovery under the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Sarbanes-Oxley Act of
2002. 
  

	 	B.	 Release of Unknown Claims. You agree to waive and release and promise never to assert any claims or
potential claims that you might have against the Released Parties, whether or not you know or might have reason to know of such claims or potential claims or of the facts potentially giving rise to any such claims or potential claims. Specifically,
you agree to waive, and by executing this Release do waive, your rights under section 1542 of the Civil Code of California, or comparable provision of another state’s law, which states: 

A general release does not extend to claims that the creditor or releasing party does not know or suspect to exist in his or her favor at
the time of executing the release and that, if known by him or her, would have materially affected his or her settlement with the debtor or released party. 
  

	 	C.	 Acknowledgment of 21-Day Consideration Period: If you are 40
years of age or older, you acknowledge and agree that you have been given at least 21 days to consider the terms of this Release before signing it1. You knowingly and voluntarily waive the
remainder of the 21-day consideration period, if any, following the date (as indicated below) you sign this Release. You affirm that you have not been asked by the Company to shorten your time period for
consideration of whether to sign this Release. You affirm that the Company has not threatened to withdraw or alter the payments or benefits due to you prior to the expiration of the 21-day period nor has the
Company provided different terms to you because you have decided to sign this Release prior to the expiration of the 21-day consideration period. You understand that by your having waived some portion of the 21-day consideration period, the Company may expedite the processing of some of the payments or benefits provided to you in reliance upon your signing this Release. 

 

	 	D.	 No Re-Start of Consideration Period: You agree that any changes
to this Release or to the payments or benefits and terms offered or that may be offered to you after your initial receipt of this Release, whether any such changes (individually or collectively) are material or immaterial, do not and shall not
restart the running of the consideration period. 

  

	 	E.	 Right to Revoke: You understand that if you sign this Release, you can change your mind and revoke it
within seven days after signing it by returning it with written revocation notice to the Company in the manner described in the notice provision of the Policy. You understand that the release and waiver set forth above will not be effective until
after this seven-day period has expired. 

  

	 	F.	 Binding Agreement: You understand that following the seven-day
revocation period, this Release will be final and binding. You promise that you will not pursue any claim that you have settled by this Release. If you break this promise, you agree to pay all of the Company’s costs and expenses (including
reasonable attorneys’ fees) related to the defense of any claims, except this promise not to sue does not apply to claims that you may have under the OWBPA and the ADEA. Although you are releasing claims that you may have under the OWBPA and
the ADEA, you understand that you may challenge the knowing and voluntary nature of this release under the OWBPA and the ADEA before a court, the Equal Employment Opportunity Commission (EEOC), the National Labor Relations Board (NLRB), or any other
federal, state or local agency charged with the enforcement of any employment laws. You understand, however, that if you pursue a claim against the Company under the OWBPA and/or the ADEA, a court has the discretion to determine whether the Company
is entitled to restitution, recoupment, or set off (hereinafter “reduction”) against a monetary award obtained by you in the court proceeding. A reduction never can exceed the amount you recover, or the consideration you received for
signing this Release, whichever is less. You also recognize that the Company may be 

  

	1 	 Insert 45 day Consideration Period in circumstances required by law. 

	 	
entitled to recover costs and attorney’s fees incurred by the Company as specifically authorized under applicable law. You further understand that nothing in this Release generally prevents
you from filing a charge or complaint with or from participating in an investigation or proceeding conducted by the EEOC, NLRB, or any other federal, state or local agency charged with the enforcement of any employment laws, although by signing this
Release you are waiving your right to individual relief based on claims asserted in such a charge or complaint. Nothing in this Release shall be construed to waive any right that is not subject to waiver by private agreement under federal,
state or local laws, such as claims for workers compensation or unemployment benefits. 

  

	 	G.	 Authorization for Deductions from Paychecks and Other Payments. You hereby authorize Lam to deduct and
withhold from your paychecks and from any other payments of cash compensation due to you, from the date of this Release forward, any and all amounts you may, from time to time, owe to Lam for any reason, including (without limitation) loans or
advances to you, reimbursement of paid but unvested signing or relocation bonuses, amounts due under a promissory note, taxes or tax withholding paid or to be paid by Lam on your behalf. If you owe Lam monies as documented in a promissory note or
other written agreement, the repayment terms of that document will apply. 

  

	 	H.	 Confidentiality of Terms of this Release. You agree not to disclose to any other person or entity any
information regarding the terms of this Release, or the fact of its existence, or the amounts of any payments or benefits made to or provided to you, except that you may disclose such information to your immediate family (spouse, children, or
parents), attorney, accountant, or other professional advisor to whom you must make the disclosure in order for such person to render professional services to you, or as you otherwise may be compelled by law. You will instruct any such persons to
whom you make such disclosures, however, to maintain the confidentiality of such information, consistent with your obligations to maintain its confidentiality hereunder. 

 

	 	I.	 Non-Solicitation. You agree, for the period extending six
(6) months after your Termination Date (as defined in the Policy), that you will not directly induce or attempt to influence any employee of the Company to leave its employ and join any company, business, agency, partnership or entity engaged
in a business competitive with the Company in or within 50 miles of Fremont, California. You agree that the Company would suffer an irreparable injury if you were to breach the covenant contained in this section and that the Company would by reason
of such breach or threatened breach be entitled to injunctive relief in a court of appropriate jurisdiction, and you hereby stipulate to the entering of such injunctive relief prohibiting you from engaging in such breach. If any of the restrictions
contained in this section shall be deemed to be unenforceable by reason of the extent, duration or geographical scope or other provisions thereof, then the parties hereto contemplate that the court shall reduce such extent, duration, geographical
scope or other provisions hereof (but only to the extent necessary to render such restrictions enforceable) and then enforce this section in its reduced form for all purposes in the manner contemplated hereby. 

 

	 	J.	 Non-Disparagement. You hereby agree that you will not disparage,
criticize, slander, or libel Lam or any of its products, technologies, policies, actions, employees, officers, or agents, to any third party or person, including without limitation any supplier, customer, or prospective customer or business partner
of Lam. 

  

	 	K.	 Excise Tax on Payments. To the extent the Company determines that any payment by the Company to or for
your benefit would be subject to the excise tax imposed by Section 4999 of the Code or any comparable federal, state, or local excise tax (such excise tax, together with any interest and penalties, are hereinafter collectively referred to as
the “Excise Tax”) and that you would receive a greater after-tax benefit by receiving, in lieu of the full severance amount, a lesser amount that does not trigger the Excise Tax, you hereby agree
that you will not challenge the Company’s determination as described above, and you further agree that you will not challenge the amount so determined by the Company as providing the greater after-tax
benefit to you. 

 5.    To accept this Release, please sign and date it below and provide it to the Company in the
manner described in the notice provision of the Policy. If your Release is not executed and returned within 53 days and irrevocable within 60 days from the Termination Date (as defined in the Policy), the offer of the payments and benefits
described in the Policy shall automatically expire and this offer shall be deemed revoked. 

 6.    In the event that you breach any of your obligations under this Release or as
otherwise imposed by law, Lam will be entitled to recover the payments and benefits paid under the Policy and to obtain all other relief provided by law or equity. Lam’s rights and remedies arising hereunder are cumulative of any and all other
rights or remedies Lam may have in the event of a breach of this Release by you. 
 7.    By signing this Release, you acknowledge that
you have had the opportunity to review this Release carefully with an attorney of your choice concerning its terms and effect, and that the waivers, settlement, and releases made herein are knowing, voluntary, informed, and consensual. 

8.    You understand that once you have signed this Release, you have an additional seven (7) days to revoke your acceptance by
submitting a written notice of your revocation to the Company in the manner described in the notice provision of the Policy. If you do not revoke your acceptance within seven (7) days of your acceptance, the Release will be deemed effective,
binding and enforceable. Please note that this means your executed Release must be received by the Chief Legal Officer of the Company, within 53 days of Termination Date (as defined in the Policy) or the Company shall be under no obligation to
make the payments or provide the benefits under the Policy. 
 9.    This Release shall be construed and enforceable in all respects
pursuant to California law, notwithstanding conflict of laws considerations or the preference, policy or law of any other jurisdiction or forum. Any dispute or action arising from or related to this Release shall be brought in federal or California
state court located in the County of Santa Clara, California, and in no other jurisdiction or venue. The invalidity or unenforceability of any provision(s) of this Release shall not affect the validity or enforceability of any other provision
hereof, which shall remain in full force and effect. 
 I, THE UNDERSIGNED, HAVE BEEN ADVISED IN WRITING THAT I HAVE HAD AT LEAST TWENTY-ONE (21) DAYS TO CONSIDER THIS RELEASE AND TO CONSULT WITH AN ATTORNEY CONCERNING ITS TERMS AND EFFECT PRIOR TO EXECUTING THIS RELEASE. 

I, THE UNDERSIGNED, HAVE READ THIS RELEASE, UNDERSTAND ITS TERMS, AND UNDERSTAND THAT I ENTER THIS RELEASE INTENDING TO AND DO WAIVE, SETTLE AND RELEASE
ALL CLAIMS I HAVE OR MIGHT HAVE AGAINST LAM RESEARCH CORPORATION TO THE FULL EXTENT PERMITTED BY LAW. I SIGN THIS RELEASE VOLUNTARILY AND KNOWINGLY. 
  

					
	ACKNOWLEDGED, UNDERSTOOD AND AGREED	 		 	ON BEHALF OF LAM RESEARCH CORPORATION:
			
	
                          
                                         
                                 
	 		 	                                     
                                         
                      
	[EMP NAME]	 		 	Mary Hassett
		 		 	Senior Vice President, Global Human Resources
			
	Date:                                     
                                         
             	 		 	Date:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00318-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00318-of-00352.parquet"}]]