Document:

Form of Righ of First Refusal in Favor of Company

 Exhibit 10.7 
  
 RIGHT OF FIRST REFUSAL AGREEMENT 
  
 This Right of First Refusal Agreement (this “Agreement”) is made effective as of May
        , 2005 by and between: (a) Magnus Carriers Corp., a Panamanian corporation (“Magnus”); Gabriel Petridis, an individual residing at
                             (“GP”); and Mons Bolin, an individual residing at
                             (“MB” and together with Magnus and GP, collectively, the
“Grantors”); and (b) Aries Maritime Transport Limited, a Bermuda company (“Aries”). 
  
 BACKGROUND 
  
 A. GP and MB are the controlling shareholders of Magnus. 
  
 B. Magnus
has entered into various ship management agreements (the “Management Agreements”) with certain vessel-owning subsidiaries of Aries whereby Magnus has agreed to provide and be responsible for all technical management of the vessels subject
thereof. 
  
 C. In order to facilitate the acquisition by Aries of additional
vessels and induce Aries to enter into ship management agreements with respect to such additional vessels upon substantially the same terms as the Management Agreements, each of the Grantors desires to grant Aries a right of first refusal to
purchase or charter any container vessel or any products tanker, ranging from 20,000 to 85,000 dwt, of the type and size owned by Aries from time to time and managed by Magnus, which any of the Grantors or their affiliates may consider for
acquisition or charter in the future. 
  
 AGREEMENT

  
 For good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Grantors and Aries agree to the following: 
  
 1. Vessel Acquisition and Charter Restriction. Each of the Grantors hereby jointly and severally covenants and undertakes with Aries that, from the date hereof and so long as any ship management agreement is in
effect between Magnus and Aries or any affiliate thereof and so long as GP and MB are controlling shareholders of Magnus, it will not and it will ensure that none of its respective affiliates will acquire, purchase or exercise any option to acquire
or purchase the majority share of any container vessel or any products tanker, ranging from 20,000 to 85,000 dwt, of the type and size owned by Aries from time to time and managed by Magnus (any such vessel, a “Subject Vessel”) or charter
any Subject Vessel unless it has (i) delivered an Offer Notice (as defined below in Section 2) to Aries and (ii) (a) Aries has declined (or is deemed to have declined) to acquire, purchase or charter the Subject Vessel referred to the in the Offer
Notice, or (b) after Aries has delivered a Response Notice with respect to the Subject Vessel referred to in the Offer Notice, Aries, itself or through one of its affiliates, fails to enter into a memorandum of agreement, other contract of sale or
charter agreement with respect to the Subject Vessel within the time period set forth in Section 3 below, so long as no Grantor is in breach of its obligations under this Agreement. 
  
 2. Offer Notice. The Grantors shall, from time to time, deliver to Aries notice of a potential or contemplated acquisition of or
chartering arrangement with respect to a Subject Vessel (each such notice, an “Offer Notice”). Each Offer Notice shall contain a statement of the Grantors that describes the proposed purchase price or charter rate, as the case may be, and
proposed terms and conditions of such acquisition or chartering arrangement, as the case may be. 
  
 3. Response Notice. Within 2 business days after receipt of any Offer Notice, Aries has the right, but not the obligation, to deliver to the Grantors notice (each such notice, a “Response Notice”)
that states 

  

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that Aries finds the price/rate and terms and conditions as those offered in the Offer Notice acceptable subject to the negotiation and execution of a
memorandum of agreement, other contract of sale or charter agreement and intends to acquire or charter, as the case may be, the Subject Vessel referred to in the Offer Notice. Thereafter, Aries, by itself or through one of its affiliates, shall have
60 days to negotiate in good faith the terms of and enter into a memorandum of agreement, other contract of sale or charter agreement with respect to the Subject Vessel. If Aries fails to deliver a Response Notice within the time permitted
hereunder, then Aries shall be deemed to have declined to accept the price/rate and terms and conditions as those offered in the Offer Notice. Aries shall have the right to designate any other entity to consummate the acquisition of or enter into a
chartering arrangement with respect to the Subject Vessel so long as such entity is an affiliate of Aries. Aries shall have no right to assign its interest hereunder except as provided in this Section 3. 
  
 4. Notices. All notices, requests, demands and other communications to any party
hereunder shall be in writing (including prepaid overnight courier, facsimile transmission, email transmission or similar writing) and shall be given to such party at its respective address or facsimile number set forth below or at such other
address or facsimile numbers as such party may hereafter specify for the purpose by notice to the other party hereto. Each such notice, request or other communication shall be effective (i) if given by facsimile, when such facsimile is transmitted
to the facsimile number specified in this Section 4 and telephonic confirmation of receipt thereof is obtained or (ii) if given by mail, prepaid overnight courier or any other means, when received at the address specified in this Section or when
delivery at such address is refused.: 
  

			
	 Grantors:
	  	 c/o Magnus Carriers Corp.

	 	  	 6, Posidonos Ave., Kallithea

	 	  	 176 74 Athens Greece

	 	  	 Attention:

	 	  	 Fax: +30 210 940 8984

		
	 Aries
	  	 Aries Maritime Transport Limited

	 	  	 6, Posidonos Ave., Kallithea

	 	  	 176 74 Athens Greece

	 	  	 Attention:

	 	  	 Fax: +30 210 946-7415

  
 5. Governing Law. This
Agreement and the rights and obligations of the parties hereto shall be governed by and construed in accordance with the laws of the State of New York. 
  
 6. Further Assurances. Each of the Grantors agrees to execute, acknowledge and deliver all such instruments and take all such actions as Aries from time to time
may reasonably request in order to further effectuate the purposes of this Agreement and to carry out the terms hereof and to better assure and confirm to Aries its rights, powers and remedies hereunder. 
  
 7. Binding Effect. This Agreement shall be binding upon and inure to the benefit of
the parties hereto and to their respective heirs, executors, administrators, successors and assigns. 
  
 8. Severability. If any term, covenant or condition of this Agreement is held to be invalid, illegal or unenforceable in any respect, then this Agreement shall be construed without such provision. 

 
 9. Affiliate. An “affiliate” of any specified person means any other
person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified person; provided that if a person holds, directly or indirectly, a beneficial interest of 50% or more in such 

  

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specified person or is an officer, director, general partner, trustee or a family member of such specified person, such person shall be deemed to be an
affiliate of such specified person. For the purposes of the foregoing definition, (i) a family member shall include a spouse, a child (natural or adopted), a spouse of any such child, a grandchild, a sister, a brother, a parent, a lineal descendant
of any of the foregoing or a trust for the benefit of any of the foregoing, and (ii) “control,” means the power to direct the management and policies of such person, directly or indirectly, whether through the ownership of voting
securities or other beneficial interest, by contract or otherwise; and the terms “controlling” and “controlled” gave the meanings correlative to the foregoing. 
  
 10. Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original and all of such
counterparts together shall constitute one agreement. To facilitate execution of this Agreement, the parties may execute and exchange counterparts of signature pages by telephone facsimile. 
  

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 EXECUTED as of the date set forth above. 
  

			
	 MAGNUS CARRIERS CORP.,
 a Panamanian corporation

		
	 By:
	 	 
	 Name:  
	 	 
	 Title:
	 	 
	
	 
	 Gabriel Petridis

	
	 
	 Mons Bolin

	
	 ARIES MARITIME TRANSPORT LIMITED,
 a Bermuda company

		
	 By:
	 	 
	 Name:  
	 	 
	 Title:
	 	 

  

 42000 Director Option Plan

 Exhibit 10.1 
  
 MICROTUNE, INC. 
 2000 DIRECTOR OPTION PLAN 
 (as amended and restated) 
  
 1. Purposes of the Plan. The purposes of this 2000 Director Option Plan are to attract and retain the best available
personnel for service as Outside Directors (as defined herein) of the Company, to provide additional incentive to the Outside Directors of the Company to serve as Directors, and to encourage their continued service on the Board. All Options granted
hereunder shall be nonstatutory stock options. 
  
 2.
Definitions. As used herein, the following definitions shall apply: 
  
 (a) “Board” means the Board of Directors of the Company. 
  
 (b) “Code” means the Internal Revenue Code of 1986, as amended. 
  
 (c) “Common Stock” means the common stock
of the Company. 
  
 (d)
“Company” means Microtune, Inc., a Delaware corporation. 
  
 (e) “Director” means a member of the Board. 
  
 (f) “Disability” means total and permanent disability as defined in section 22(e)(3) of the Code. 
  
 (g) “Employee” means any person, including
officers and Directors, employed by the Company or any Parent or Subsidiary of the Company. The payment of a Director’s fee by the Company shall not be sufficient in and of itself to constitute “employment” by the Company. 

 
 (h) “Exchange Act” means the Securities
Exchange Act of 1934, as amended. 
  
 (i)
“Fair Market Value” means, as of any date, the value of Common Stock determined as follows: 
  
 (i) If the Common Stock is listed on any established stock exchange or a national market system, including without limitation the Nasdaq
National Market or The Nasdaq SmallCap Market of The Nasdaq Stock Market, its Fair Market Value shall be the closing sales price for such stock (or the closing bid, if no sales were reported) as quoted on such exchange or system on the day of
determination as reported in The Wall Street Journal or such other source as the Administrator deems reliable; 
  
 (ii) If the Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, the Fair Market Value
of a Share of Common Stock shall be the mean between the high bid and low asked prices for the Common Stock for the day of determination, as reported in The Wall Street Journal or such other source as the Board deems reliable; or 
  
 (iii) In the absence of an established market for the Common
Stock, the Fair Market Value thereof shall be determined in good faith by the Board. 
  
 (j) “Inside Director” means a Director who is an Employee. 
  
 (k) “Option” means a stock option granted pursuant to the Plan. 
  
 (l) “Optioned Stock” means the Common Stock
subject to an Option. 
  
 (m)
“Optionee” means a Director who holds an Option. 
  
 (n) “Outside Director” means a Director who is not an Employee. 
  
 (o) “Parent” means a “parent corporation,” whether now or hereafter existing, as defined in Section 424(e) of
the Code. 
  

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 (p) “Plan” means this 2000 Director Option Plan. 
  
 (q) “Share” means a share of the Common
Stock, as adjusted in accordance with Section 10 of the Plan. 
  
 (r) “Subsidiary” means a “subsidiary corporation,” whether now or hereafter existing, as defined in Section 424(f) of the Internal Revenue Code of 1986. 
  
 3. Stock Subject to the Plan. Subject to the provisions of Section 10
of the Plan, the maximum aggregate number of Shares which may be optioned and sold under the Plan is 887,500 Shares. The Shares may be authorized, but unissued, or reacquired Common Stock. If an Option expires or becomes unexercisable without having
been exercised in full, the unpurchased Shares which were subject thereto shall become available for future grant or sale under the Plan (unless the Plan has terminated). Shares that have actually been issued under the Plan shall not be returned to
the Plan and shall not become available for future distribution under the Plan. 
  
 4. Administration and Grants of Options under the Plan. 
  
 (a) Procedure for Grants. All grants of Options to Outside Directors under this Plan shall be automatic and nondiscretionary and
shall be made strictly in accordance with the following provisions: 
  
 (i) No person shall have any discretion to select which Outside Directors shall be granted Options or to determine the number of Shares to be covered by Options. 
  
 (ii) Each Outside Director shall be automatically granted an
Option to purchase 15,000 Shares (the “First Option”) on the date on which such person first becomes an Outside Director, whether through election by the shareholders of the Company or appointment by the Board to fill a vacancy; provided,
however, that an Inside Director who ceases to be an Inside Director but who remains a Director shall not receive a First Option. 
  
 (iii) Each Outside Director shall be automatically granted an Option to purchase 24,000 Shares (a “Subsequent Option”) on the
date of the Company’s annual stockholder’s meeting of each year, provided he or she is then an Outside Director and if as of such date, he or she shall have served on the Board for at least the preceding six (6) months. 
  
 (iv) Notwithstanding the provisions of subsections (ii) and
(iii) hereof, any exercise of an Option granted before the Company has obtained shareholder approval of the Plan in accordance with Section 16 hereof shall be conditioned upon obtaining such shareholder approval of the Plan in accordance with
Section 16 hereof. 
  
 (v) The terms of a First
Option granted hereunder shall be as follows: 
  
 (A) the term of the First Option shall be ten (10) years. 
  
 (B) the First Option shall be exercisable only while the Outside Director remains a Director of the Company, except as set forth in Sections 8 and 10 hereof. 
  
 (C) the exercise price per Share shall be 100% of the Fair
Market Value per Share on the date of grant of the First Option. 
  
 (D) subject to Section 10 hereof, the First Option shall become exercisable as to 33 1/3% of the Shares subject to the First Option on each anniversary of its date of grant, provided that the Optionee continues to serve as a Director on such dates. 
  
 (vi) The terms of a Subsequent Option granted hereunder shall be as follows: 
  
 (A) the term of the Subsequent Option shall be ten (10)
years. 
  
 (B) the Subsequent Option shall be
exercisable only while the Outside Director remains a Director of the Company, except as set forth in Sections 8 and 10 hereof. 
  

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 (C) the exercise price per Share shall be 100% of the Fair Market Value per Share on the
date of grant of the Subsequent Option. 
  
 (D)
subject to Section 10 hereof, the Subsequent Option shall become exercisable as to 33 1/3% of the Shares subject to the Subsequent Option on the first anniversary of its date of grant, provided that the Optionee continues to serve as a Director on
such dates. 
  
 (vii) In the event that any
Option granted under the Plan would cause the number of Shares subject to outstanding Options plus the number of Shares previously purchased under Options to exceed the Pool, then the remaining Shares available for Option grant shall be granted
under Options to the Outside Directors on a pro rata basis. No further grants shall be made until such time, if any, as additional Shares become available for grant under the Plan through action of the Board or the shareholders to increase the
number of Shares which may be issued under the Plan or through cancellation or expiration of Options previously granted hereunder. 
  
 5. Eligibility. Options may be granted only to Outside Directors. All Options shall be automatically granted in accordance with the terms set forth
in Section 4 hereof. The Plan shall not confer upon any Optionee any right with respect to continuation of service as a Director or nomination to serve as a Director, nor shall it interfere in any way with any rights which the Director or the
Company may have to terminate the Director’s relationship with the Company at any time. 
  
 6. Term of Plan. The Plan shall become effective upon the earlier to occur of its adoption by the Board or its approval by the shareholders of the Company as described in Section 16 of the Plan. It shall
continue in effect for a term of ten (10) years unless sooner terminated under Section 11 of the Plan. 
  
 7. Form of Consideration. The consideration to be paid for the Shares to be issued upon exercise of an Option, including the method of payment,
shall consist of (i) cash, (ii) check, (iii) other Shares, provided Shares acquired directly from the Company, (x) have been owned by the Optionee for more than six (6) months on the date of surrender, and (y) have a Fair Market Value on the date of
surrender equal to the aggregate exercise price of the Shares as to which said Option shall be exercised, (iv) consideration received by the Company under a cashless exercise program implemented by the Company in connection with the Plan, or (v) any
combination of the foregoing methods of payment. 
  
 8.
Exercise of Option. 
  
 (a) Procedure for
Exercise; Rights as a Shareholder. Any Option granted hereunder shall be exercisable at such times as are set forth in Section 4 hereof; provided, however, that no Options shall be exercisable until shareholder approval of the Plan in accordance
with Section 16 hereof has been obtained. An Option may not be exercised for a fraction of a Share. An Option shall be deemed to be exercised when written notice of such exercise has been given to the Company in accordance with the terms of the
Option by the person entitled to exercise the Option and full payment for the Shares with respect to which the Option is exercised has been received by the Company. Full payment may consist of any consideration and method of payment allowable under
Section 7 of the Plan. Until the issuance (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company) of the stock certificate evidencing such Shares, no right to vote or receive
dividends or any other rights as a shareholder shall exist with respect to the Optioned Stock, notwithstanding the exercise of the Option. A share certificate for the number of Shares so acquired shall be issued to the Optionee as soon as
practicable after exercise of the Option. No adjustment shall be made for a dividend or other right for which the record date is prior to the date the stock certificate is issued, except as provided in Section 10 of the Plan. Exercise of an Option
in any manner shall result in a decrease in the number of Shares which thereafter may be available, both for purposes of the Plan and for sale under the Option, by the number of Shares as to which the Option is exercised. 
  

 3 

 (b) Termination of Continuous Status as a Director. Subject to Section 10 hereof,
in the event an Optionee’s status as a Director terminates (other than upon the Optionee’s death or Disability), the Optionee may exercise his or her Option, but only within three (3) months following the date of such termination, and only
to the extent that the Optionee was entitled to exercise it on the date of such termination (but in no event later than the expiration of its ten (10) year term). To the extent that the Optionee was not entitled to exercise an Option on the date of
such termination, and to the extent that the Optionee does not exercise such Option (to the extent otherwise so entitled) within the time specified herein, the Option shall terminate. 
  
 (c) Disability of Optionee. In the event Optionee’s status as a Director terminates as a result
of Disability, the Optionee may exercise his or her Option, but only within six (6) months following the date of such termination, and only to the extent that the Optionee was entitled to exercise it on the date of such termination (but in no event
later than the expiration of its ten (10) year term). To the extent that the Optionee was not entitled to exercise an Option on the date of termination, or if he or she does not exercise such Option (to the extent otherwise so entitled) within the
time specified herein, the Option shall terminate. 
  
 (d) Death of Optionee. In the event of an Optionee’s death, the Optionee’s estate or a person who acquired the right to exercise the Option by bequest or inheritance may exercise the Option, but only within twelve (12)
months following the date of death, and only to the extent that the Optionee was entitled to exercise it on the date of death (but in no event later than the expiration of its ten (10) year term). To the extent that the Optionee was not entitled to
exercise an Option on the date of death, and to the extent that the Optionee’s estate or a person who acquired the right to exercise such Option does not exercise such Option (to the extent otherwise so entitled) within the time specified
herein, the Option shall terminate. 
  
 9. Limited
Transferability of Options. An Option may not be sold, pledged, assigned, hypothecated, transferred or disposed of in any manner other than by will or by the laws of descent or distribution and may be exercised, during the lifetime of the
Optionee, only by the Optionee; provided, however that the Optionee may transfer, without payment of consideration, the Option to any member of the Optionee’s immediate family or to a trust or partnership whose beneficiaries are members of the
Optionee’s immediate family. In such case, the Option shall be exercisable only by such transferee. Following transfer, the Option shall continue to be subject to the same terms and conditions as were applicable immediately prior to the
transfer. For purposes of this Section, an Optionee’s “immediate family” shall mean the Optionee’s spouse, children and grandchildren.” 
  

10. Adjustments Upon Changes in Capitalization, Dissolution, Merger or Asset Sale. 
  
 (a) Changes in Capitalization. Subject to any
required action by the shareholders of the Company, the number of Shares covered by each outstanding Option, the number of Shares which have been authorized for issuance under the Plan but as to which no Options have yet been granted or which have
been returned to the Plan upon cancellation or expiration of an Option, as well as the price per Share covered by each such outstanding Option, and the number of Shares issuable pursuant to the automatic grant provisions of Section 4 hereof shall be
proportionately adjusted for any increase or decrease in the number of issued Shares resulting from a stock split, reverse stock split, stock dividend, combination or reclassification of the Common Stock, or any other increase or decrease in the
number of issued Shares effected without receipt of consideration by the Company; provided, however, that conversion of any convertible securities of the Company shall not be deemed to have been “effected without receipt of consideration.”
Except as expressly provided herein, no issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number
or price of Shares subject to an Option. 
  
 (b)
Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of the Company, to the extent that an Option has not been previously exercised, it shall terminate immediately prior to the consummation of such proposed
action. 
  
 (c) Merger or Asset Sale. In
the event of a merger of the Company with or into another corporation or the sale of substantially all of the assets of the Company, outstanding Options may be assumed or equivalent 

  

 4 

 
options may be substituted by the successor corporation or a Parent or Subsidiary thereof (the “Successor Corporation”). If an Option is assumed or
substituted for, the Option or equivalent option shall continue to be exercisable as provided in Section 4 hereof for so long as the Optionee serves as a Director or a director of the Successor Corporation. Following such assumption or substitution,
if the Optionee’s status as a Director or director of the Successor Corporation, as applicable, is terminated other than upon a voluntary resignation by the Optionee, the Option or option shall become fully exercisable, including as to Shares
for which it would not otherwise be exercisable. Thereafter, the Option or option shall remain exercisable in accordance with Sections 8(b) through (d) above. If the Successor Corporation does not assume an outstanding Option or substitute for it an
equivalent option, the Option shall become fully vested and exercisable, including as to Shares for which it would not otherwise be exercisable. In such event the Board shall notify the Optionee that the Option shall be fully exercisable for a
period of thirty (30) days from the date of such notice, and upon the expiration of such period the Option shall terminate. 
  
 For the purposes of this Section 10(c), an Option shall be considered assumed if, following the merger or sale of assets, the Option
confers the right to purchase or receive, for each Share of Optioned Stock subject to the Option immediately prior to the merger or sale of assets, the consideration (whether stock, cash, or other securities or property) received in the merger or
sale of assets by holders of Common Stock for each Share held on the effective date of the transaction (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding Shares).
If such consideration received in the merger or sale of assets is not solely common stock of the successor corporation or its Parent, the Administrator may, with the consent of the successor corporation, provide for the consideration to be received
upon the exercise of the Option, for each Share of Optioned Stock subject to the Option, to be solely common stock of the successor corporation or its Parent equal in fair market value to the per share consideration received by holders of Common
Stock in the merger or sale of assets. 
  
 11. Amendment and
Termination of the Plan. 
  
 (a) Amendment
and Termination. The Board may at any time amend, alter, suspend, or discontinue the Plan, but no amendment, alteration, suspension, or discontinuation shall be made which would impair the rights of any Optionee under any grant theretofore made,
without his or her consent. In addition, to the extent necessary and desirable to comply with any applicable law, regulation or stock exchange rule, the Company shall obtain shareholder approval of any Plan amendment in such a manner and to such a
degree as required. 
  
 (b) Effect of
Amendment or Termination. Any such amendment or termination of the Plan shall not affect Options already granted and such Options shall remain in full force and effect as if this Plan had not been amended or terminated. 
  
 12. Time of Granting Options. The date of grant of an Option shall,
for all purposes, be the date determined in accordance with Section 4 hereof. 
  
 13. Conditions Upon Issuance of Shares. Shares shall not be issued pursuant to the exercise of an Option unless the exercise of such Option and the issuance and delivery of such Shares pursuant thereto shall
comply with all relevant provisions of law, including, without limitation, the Securities Act of 1933, as amended, the Exchange Act, the rules and regulations promulgated thereunder, state securities laws, and the requirements of any stock exchange
upon which the Shares may then be listed, and shall be further subject to the approval of counsel for the Company with respect to such compliance. 
  
 As a condition to the exercise of an Option, the Company may require the person exercising such Option to represent and warrant at the time of any such
exercise that the Shares are being purchased only for investment and without any present intention to sell or distribute such Shares, if, in the opinion of counsel for the Company, such a representation is required by any of the aforementioned
relevant provisions of law. 
  

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 Inability of the Company to obtain authority from any regulatory body having jurisdiction, which
authority is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, 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. 
  
 14. Reservation of
Shares. The Company, during the term of this Plan, will at all times reserve and keep available such number of Shares as shall be sufficient to satisfy the requirements of the Plan. 
  
 15. Option Agreement. Options shall be evidenced by written option agreements in such form as the Board shall
approve. 
  
 16. Shareholder Approval. The Plan shall be
subject to approval by the shareholders of the Company within twelve (12) months after the date the Plan is adopted. Such shareholder approval shall be obtained in the degree and manner required under applicable state and federal law and any stock
exchange rules. 
  

 6 

 EXHIBIT A 
  

DIRECTOR OPTION EXERCISE NOTICE 
  
 Microtune, Inc. 
 2201 Tenth Street 
 Plano, TX 75074 
  
 Attention: Corporate Secretary 
  
 1. Exercise of Option. The undersigned (“Optionee”) hereby elects to exercise Optionee’s option to purchase              shares of the Common Stock (the
“Shares”) of Microtune, Inc. (the “Company”) under and pursuant to the Company’s 2000 Director Option Plan and the Director Option Agreement dated
                     (the “Agreement”). 
  
 2. Representations of Optionee. Optionee acknowledges that Optionee has received, read and understood the Agreement. 
  
 3. Federal Restrictions on Transfer. Optionee understands that the
             Shares must be held indefinitely unless they are registered under the Securities Act of 1933, as amended (the “1933 Act”), or unless an exemption from such
registration is available, and that the certificate(s) representing the Shares may bear a legend to that effect. Optionee understands that the Company is under no obligation to register the Shares and that an exemption may not be available or may
not permit Optionee to transfer Shares in the amounts or at the times proposed by Optionee. 
  
 4. Tax Consequences. Optionee understands that Optionee may suffer adverse tax consequences as a result of Optionee’s purchase or disposition of the Shares. Optionee represents that Optionee has consulted
with any tax consultant(s) Optionee deems advisable in connection with the purchase or disposition of the Shares and that Optionee is not relying on the Company for any tax advice. 
  
 5. Delivery of Payment. Optionee herewith delivers to the Company the aggregate purchase price for the Shares that
Optionee has elected to purchase and has made provision for the payment of any federal or state withholding taxes required to be paid or withheld by the Company. 
  
 6. Entire Agreement. The Agreement is incorporated herein by reference. This Exercise Notice and the Agreement
constitute the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and Optionee with respect to the subject matter hereof. This Exercise Notice and the Agreement are governed by Texas
law except for that body of law pertaining to conflict of laws. 
  

											
	 Submitted by:
	 	 	 	 Accepted by:

			
	 OPTIONEE: MICROTUNE, INC.
	 	 	 	 
					
	By:	 	 	 	 	 	By:	 	 
	 	 	 Its:
	 	 	 	 	 	 	 	 
	 	 	 Address:
	 	 	 	 	 	 	 	 
					
	 Dated:
	 	 	 	 	 	 Dated:
	 	 

  

 FIRST OPTION 
 MICROTUNE, INC. 
 DIRECTOR OPTION AGREEMENT 
  
 Microtune, Inc., (the “Company”), has granted to
                     (the “Optionee”) an option to purchase a total of 15,000 shares of the Company’s Common Stock (the “Optioned
Stock”), at the price determined as provided herein, and in all respects subject to the terms, definitions and provisions of the Company’s 2000 Director Option Plan (the “Plan”) adopted by the Company which is incorporated herein
by reference. The terms defined in the Plan shall have the same defined meanings herein. 
  
 1. Nature of the Option. This Option is a nonstatutory option and is not intended to qualify for any special tax benefits to the Optionee. 
  
 2. Exercise Price. The exercise price is $            
for each share of Common Stock. 
  
 3. Exercise of Option.
This Option shall be exercisable during its term in accordance with the provisions of Section 8 of the Plan as follows: 
  

	 	(i)	Right to Exercise. 

  

	 	(a)	This Option shall become exercisable in installments cumulatively with respect to  1/3 of the Optioned Stock on each anniversary of its date of grant, so that one hundred percent (100%) of the Optioned Stock shall be exercisable three years after the date of grant; provided, however,
that in no event shall any Option be exercisable prior to the date the stockholders of the Company approve the Plan. 

  

	 	(b)	This Option may not be exercised for a fraction of a share. 

  

	 	(c)	In the event of Optionee’s death, disability or other termination of service as a Director, the exercisability of the Option is governed by Section 8 of the Plan.

  

	 	(ii)	Method of Exercise. This Option shall be exercisable by written notice which shall state the election to exercise the Option and the number of Shares in respect of which the
Option is being exercised. Such written notice, in the form attached hereto as Exhibit A, shall be signed by the Optionee and shall be delivered in person or by certified mail to the Secretary of the Company. The written notice shall be accompanied
by payment of the exercise price. 

  
 4. Method
of Payment. Payment of the exercise price shall be by any of the following, or a combination thereof, at the election of the Optionee: 
  

	 	(i)	cash; 

  

	 	(ii)	check; or 

  

	 	(iii)	surrender of other Shares, provided Shares acquired from the Company, (x) have been owned by the Optionee for more than six (6) months on the date of surrender, and (y) have a Fair
Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which said Option shall be exercised; or 

  

	 	(iv)	consideration received by the Company under a cashless exercise program implemented by the Company in connection with the Plan. 

  
 5. Restrictions on Exercise. This Option may not be exercised if the
issuance of such Shares upon such exercise or the method of payment of consideration for such shares would constitute a violation of any applicable federal or state securities or other law or regulations, or if such issuance would not comply with
the requirements of any stock exchange upon which the Shares may then be listed. As a condition to the exercise of this Option, 

  

 
the Company may require Optionee to make any representation and warranty to the Company as may be required by any applicable law or regulation. 

 
 6. Limited Transferability of Option. This Option may not be sold,
pledged, assigned, hypothecated, transferred or disposed of in any manner other than by will or by the laws of descent or distribution and may be exercised, during the lifetime of the Optionee, only by the Optionee; provided, however, that the
Optionee may transfer, without payment of consideration, the Option to any member of the Optionee’s immediate family or to a trust or partnership whose beneficiaries are members of the Optionee’s immediate family by completing an Election
to Transfer Stock Option Form to be obtained from the Company. In such case, the Option shall be exercisable only by such transferee. Following transfer, this Option shall continue to be subject to the same terms and conditions as were applicable
immediately prior to the transfer. For purposes of this Section, an Optionee’s “immediate family” shall mean the Optionee’s spouse, children and grandchildren.” 
  
 7. Term of Option. This Option may not be exercised more than ten (10) years from the date of grant of this Option,
and may be exercised during such period only in accordance with the Plan and the terms of this Option. 
  
 8. Taxation Upon Exercise of Option. Optionee understands that, upon exercise of this Option, he or she will recognize income for tax purposes in
an amount equal to the excess of the then Fair Market Value of the Shares purchased over the exercise price paid for such Shares. Since the Optionee is subject to Section 16(b) of the Securities Exchange Act of 1934, as amended, under certain
limited circumstances the measurement and timing of such income (and the commencement of any capital gain holding period) may be deferred, and the Optionee is advised to contact a tax advisor concerning the application of Section 83 in general and
the availability a Section 83(b) election in particular in connection with the exercise of the Option. 
  

			
	 DATE OF GRANT:
                                    

	
	 MICROTUNE, INC., A Delaware corporation

		
	By:	 	 

  
 Optionee acknowledges
receipt of a copy of the Plan, a copy of which is attached hereto, and represents that he or she is familiar with the terms and provisions thereof, and hereby accepts this Option subject to all of the terms and provisions thereof. Optionee hereby
agrees to accept as binding, conclusive and final all decisions or interpretations of the Board upon any questions arising under the Plan. 
  

	
	 Dated:
                                        
    

	
	  
	 Optionee

  

 SUBSEQUENT OPTION MICROTUNE, INC. 
 DIRECTOR OPTION AGREEMENT 
  
 Microtune, Inc., (the “Company”), has granted to                          (the
“Optionee”) an option to purchase a total of 24,000 shares of the Company’s Common Stock (the “Optioned Stock”), at the price determined as provided herein, and in all respects subject to the terms, definitions and
provisions of the Company’s 2000 Director Option Plan (the “Plan”) adopted by the Company which is incorporated herein by reference. The terms defined in the Plan shall have the same defined meanings herein. 
  
 1. Nature of the Option. This Option is a nonstatutory option and is
not intended to qualify for any special tax benefits to the Optionee. 
  
 2. Exercise Price. The exercise price is $             for each share of Common Stock. 
  
 3. Exercise of Option. This Option shall be exercisable during its term in accordance with the provisions of Section
8 of the Plan as follows: 
  

	 	(i)	Right to Exercise. 

  

	 	(a)	This Option shall become exercisable in installments cumulatively with respect to 1/3 of the Optioned Stock on each anniversary of its date of grant, so that one hundred percent
(100%) of the Optioned Stock shall be exercisable three years after the date of grant; provided, however, that in no event shall any Option be exercisable prior to the date the stockholders of the Company approve the Plan. 

 

	 	(b)	This Option may not be exercised for a fraction of a share. 

  

	 	(c)	In the event of Optionee’s death, disability or other termination of service as a Director, the exercisability of the Option is governed by Section 8 of the Plan.

  

	 	(ii)	Method of Exercise. This Option shall be exercisable by written notice which shall state the election to exercise the Option and the number of Shares in respect of which the
Option is being exercised. Such written notice, in the form attached hereto as Exhibit A, shall be signed by the Optionee and shall be delivered in person or by certified mail to the Secretary of the Company. The written notice shall be accompanied
by payment of the exercise price. 

  
 4. Method
of Payment. Payment of the exercise price shall be by any of the following, or a combination thereof, at the election of the Optionee: 
  

	 	(i)	cash; 

  

	 	(ii)	check; or 

  

	 	(iii)	surrender of other Shares, provided Shares acquired from the Company, (x) have been owned by the Optionee for more than six (6) months on the date of surrender, and (y) have a Fair
Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which said Option shall be exercised; or 

  

	 	(iv)	consideration received by the Company under a cashless exercise program implemented by the Company in connection with the Plan. 

  
 5. Restrictions on Exercise. This Option may not be exercised if the
issuance of such Shares upon such exercise or the method of payment of consideration for such shares would constitute a violation of any applicable federal or state securities or other law or regulations, or if such issuance would not comply with
the requirements of any stock exchange upon which the Shares may then be listed. As a condition to the exercise of this Option, the Company may require Optionee to make any representation and warranty to the Company as may be required by any
applicable law or regulation. 
  

 6. Limited Transferability of Option. This Option may not be sold, pledged, assigned,
hypothecated, transferred or disposed of in any manner other than by will or by the laws of descent or distribution and may be exercised, during the lifetime of the Optionee, only by the Optionee; provided, however, that the Optionee may transfer,
without payment of consideration, the Option to any member of the Optionee’s immediate family or to a trust or partnership whose beneficiaries are members of the Optionee’s immediate family by completing an Election to Transfer Stock
Option Form to be obtained from the Company. In such case, the Option shall be exercisable only by such transferee. Following transfer, this Option shall continue to be subject to the same terms and conditions as were applicable immediately prior to
the transfer. For purposes of this Section, an Optionee’s “immediate family” shall mean the Optionee’s spouse, children and grandchildren.”. 
  
 7. Term of Option. This Option may not be exercised more than ten (10) years from the date of grant of this Option,
and may be exercised during such period only in accordance with the Plan and the terms of this Option. 
  
 8. Taxation Upon Exercise of Option. Optionee understands that, upon exercise of this Option, he or she will recognize income for tax purposes in
an amount equal to the excess of the then Fair Market Value of the Shares purchased over the exercise price paid for such Shares. Since the Optionee is subject to Section 16(b) of the Securities Exchange Act of 1934, as amended, under certain
limited circumstances the measurement and timing of such income (and the commencement of any capital gain holding period) may be deferred, and the Optionee is advised to contact a tax advisor concerning the application of Section 83 in general and
the availability a Section 83(b) election in particular in connection with the exercise of the Option. Upon a resale of such Shares by the Optionee, any difference between the sale price and the Fair Market Value of the Shares on the date of
exercise of the Option, to the extent not included in income as described above, will be treated as capital gain or loss. 
  

			
	 DATE OF GRANT:
                    

	
	 MICROTUNE, INC.,
 A Delaware corporation

		
	By:	 	 

  
 Optionee acknowledges
receipt of a copy of the Plan, a copy of which is attached hereto, and represents that he or she is familiar with the terms and provisions thereof, and hereby accepts this Option subject to all of the terms and provisions thereof. Optionee hereby
agrees to accept as binding, conclusive and final all decisions or interpretations of the Board upon any questions arising under the Plan. 
  

	
	 Dated:
                    

	
	  
	 Optionee

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