Document:

Separation Agreement of Martin Stephens

Exhibit 10.3

This document affects your legal rights.  You are advised to consult with
an attorney or other counsel of your choice prior to signing this Agreement.

SEPARATION AGREEMENT AND RELEASE OF ALL CLAIMS
THIS SEPARATION AGREEMENT AND RELEASE OF ALL CLAIMS (the “Agreement”) is entered into between Merit Medical Systems, Inc., a Utah corporation (“Employer”), and Martin Stephens (“Employee”).

Recitals
WHEREAS, Employer has terminated Employee’s employment, effective April 14, 2015 (the “Termination Date”); and

WHEREAS, by this Agreement, and the sums paid to or for the benefit of Employee hereunder, Employer and Employee intend to resolve any and all disputes of any kind or character, if any, between them, including without limitation any and all disputes arising from or related to Employee’s employment with Employer or any Affiliate, the termination of that employment, or otherwise.
Agreement
NOW, THEREFORE, in consideration of the promises set forth herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree to the following terms and conditions, including the recitals by this reference:

1.Additional Definition
Affiliate:  As used herein, the term “Affiliate” shall mean and refer to any officer, director, shareholder, member, employee, and/or agent of Employer; and/or any subsidiary, division, or affiliate of Employer (including without limitation any officer, director, shareholder, employee, and/or agent of any such subsidiary, division, or affiliate); and/or any entity (including without limitation any officer, director, shareholder, member, employee, and/or agent of such entity) in which Employer owns, directly or indirectly, a legal or beneficial interest (whether in whole or in part); and/or any individual or entity (including without limitation any officer, director, shareholder, member, employee, and/or agent of such entity) that owns, directly or indirectly, a legal or beneficial interest (whether in whole or in part) in Employer.

2.Payment to Employee.  In exchange for Employee’s execution of this Agreement and the releases contained herein, Employer shall pay to or for Employee’s benefit the following:

		
	a.
	The total one-time lump sum of FOUR HUNDRED THOUSAND AND 00/100 U.S. DOLLARS ($400,000.00), less applicable federal and state payroll withholding taxes at the federal and state lump sum payroll withholding rate  (this payment shall be made on the first regular payday immediately following the expiration of the 7-day revocation period set forth in Section 3).  

		
	b.
	The total one-time lump sum of TWO HUNDRED TWENTY-FIVE THOUSAND AND 00/100 U.S. DOLLARS ($225,000.00), less applicable federal and state payroll withholding taxes at the federal and state lump sum payroll withholding rate for sales commissions (this payment shall be made on the first regular payday immediately following the expiration of the 7-day revocation period set forth in Section 3).

Payment of any monies to or on behalf of Employee under this Section 2 shall be subject to all applicable federal, state, and local payroll withholding taxes.

3.Review and Revocation.  Employee has twenty-one (21) days from the date Employee receives this Agreement to consider the terms of and to sign this Agreement.  Employee may, at Employee’s sole and absolute discretion, sign this Agreement prior to the expiration of the above review period.  

Employee may revoke this Agreement for a period of up to 7 days after Employee signs it (not counting the day it was signed) and that the Agreement shall not become effective or enforceable until the 7-day revocation period has expired.  To revoke this Agreement, Employee must give written notice stating that Employee wishes to revoke the Agreement to Louise Bott, Vice President, Global Human Resources and Organizational Development, Merit Medical Systems, Inc., 1600 West Merit Parkway, South Jordan, UT 84095, Telefax: 801-253-6963.  Any notice stating that Employee wishes to revoke this Agreement must be faxed (with fax delivery confirmation), emailed (with a reply confirmation from Louise Bott), hand-delivered, or mailed (with confirmation of delivery) to Employer, as set forth in this paragraph, in sufficient time to be received by Employer on or before the expiration of the 7-day revocation period.

4.Release of All Claims.  In consideration for the payment stated in Section 2 and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Employee, for Employee and Employee’s heirs, assigns, and all persons and entities claiming by, through, or under Employee, hereby irrevocably, unconditionally, and completely releases, discharges, and agrees to hold harmless Employer and its Affiliates (hereinafter referred to, both individually and collectively, as “Releasees”) of and from any and all claims, liabilities, charges, demands, grievances, lawsuits, and causes of action of any kind or nature whatsoever, including without limitation claims for contribution, subrogation, or indemnification, whether direct or indirect, liquidated or unliquidated, known or unknown, which Employee has, had, or may claim to have against Releasees (hereinafter collectively referred to as "Claim(s)").

The release, discharge, and agreement to hold harmless set forth in this Section 4 includes, without limitation, any Claim(s) that Employee had, has, or may claim to have against Releasees:
		
	a.
	for wrongful or constructive discharge or termination, negligent or intentional infliction of emotional distress, breach of express or implied contract, breach of the covenant of good faith and fair dealing, violation of public policy, defamation, promissory estoppel, detrimental reliance, retaliation, tortious interference with contract or prospective economic advantage, invasion of privacy, whistleblower protection, hostile work environment, personal injury (whether physical or mental), or any other Claim(s), whether arising in tort or in contract; 

		
	b.
	for discrimination, hostile work environment / harassment, retaliation, or otherwise arising under federal, state, or local law, including without limitation Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Equal Pay Act, all claims under Titles 29 and 42 of the United States Code, the Americans with Disabilities Act of 1990, the Rehabilitation Act of 1973, the Utah Antidiscrimination Act, or any other federal, state, or local law prohibiting discrimination, harassment, or retaliation on the basis of race, color, national origin, religion, age, sex, disability, veteran status, or any other protected group status; 

		
	c.
	for discrimination, hostile work environment / harassment, retaliation, or otherwise arising under the Age Discrimination in Employment Act, as amended by the Older Workers Benefit Protection Act arising on or before the date of this Agreement; and/or

		
	d.
	arising under the Employee Retirement Income Security Act (“ERISA”); 

		
	e.
	arising under the Family and Medical Leave Act (“FMLA”); 

		
	f.
	for unpaid wages, bonuses, commissions, or other compensation of any type or kind to the full extent allowed by the Fair Labor Standards Act or other applicable law; 

		
	g.
	for attorney’s fees and/or costs; and/or

		
	h.
	for any other Claim(s) in any way related to or arising out of Employee’s employment with Employer or the termination of that employment.  

Nothing in this Agreement waives Employee’s rights, if any, to (i) continue Employee’s participation in Employer’s employee health benefit plan, as allowed by COBRA and the terms, conditions, and limitations of the plan, (ii) any vested rights that Employee may have under any employee pension or welfare benefit plan in which Employee participated as an employee of Employer, and/or (iii) any claims Employee has or may claim to have for worker’s compensation or unemployment benefits.
    
5.Full and Complete Release.  Employee understands and agrees that Employee is releasing and waiving any Claim(s) that Employee does not know exists or may exist in Employee’s favor at the time Employee signs this Agreement which, if known by Employee, would materially affect Employee’s decision to sign this Agreement.  Nonetheless, for the purpose of implementing a full and complete release of all Claim(s), Employee expressly acknowledges that the release set forth in Section 4 is intended to include, without limitation, all Claim(s) that Employee does not know or suspect to exist in Employee’s favor and that the release set forth in Section 4 includes the release and extinguishment of any such Claim(s).  In addition, Employee agrees that Employee will not seek re-employment with Employer at any time in the future and that the provisions of this Section 5 are adequate and legal grounds to (a) reject Employee’s application for re-employment or (b) terminate Employee’s employment should Employee be rehired by Employer in violation of this Section 5.  

6.Covenant Not to File Claim.  To the full extent allowed by law, and subject to the provisions and limitations of the Age Discrimination in Employment Act or regulations issued by the Equal Employment Opportunity Commission, Employee covenants that Employee has not, and agrees that Employee will not, file any charge, lawsuit, or claim against Employer with any 

court or administrative agency relating to any Claim(s) released in this Agreement.  Employee also agrees that, to the full extent allowed by law, Employee is not entitled to and hereby waives any right to recover damages of any type or kind and/or reinstatement to employment that may be awarded or ordered by any court or administrative agency to or for Employee’s benefit arising from or relating to any Claim(s) released by Employee under this Agreement.  

7.Return of Goods to Employer.  Employee covenants and warrants that Employee returned to Employer (i) all documents or other information about Employer, including without limitation confidential or proprietary information (whether developed by Employee or by any other employee of Employer), (ii) all electronic equipment and electronic information storage devices (e.g., computers, cellular phones, PDAs, zip drives, thumb drives, disks, etc.), and (iii) company credit cards, office keys, etc. that Employee obtained or that were made available to Employee as a consequence of Employee’s employment with Employer and/or that contain confidential or proprietary information about Employer or that otherwise are the rightful property of Employer.   

8.Covenant of Confidentiality.  Employee agrees that, as a material term of this Agreement and to protect the goodwill, the Confidential Information (as defined below), and the business of Employer, Employee shall not, from the date of this Agreement through the end of the Payout Period or at any time thereafter, without the express, prior written consent of the President of Employer: (i) ever reveal, disclose, furnish, make accessible, or disseminate any of Employer’s Confidential Information or any other matter concerning the business affairs of Employer or of any customer or vendor of Employer or (ii) ever use or exploit any of Employer’s Confidential Information or any other matter concerning the business affairs of Employer or of any customer or vendor of Employer for the personal and/or financial use, gain, or benefit of Employee or of any other person or entity or for any other purpose.

For purposes of this Agreement, "Confidential Information" means names, addresses, telephone numbers, contact persons, and other identifying and confidential information about persons, firms, corporations, and/or other entities that are or become customers, accounts, licensors, vendors, and/or suppliers of goods or services to or of Employer; customer lists; details of client or consultant contracts; details of customer usage; non-public pricing policies; operational methods; marketing plans or strategies; product and program developments and plans; research projects; technology and technical processes; business acquisition plans; personnel information and plans, including without limitation compensation and contract terms; methods of production; inventions; improvements; designs; original works of authorship; derivative works; formulas; processes; compositions of matter; computer software and related information, including without limitation programs, code, concepts, methods, routines, formulas, algorithms, designs, specifications, architectures, or inventions embodied therein, as well as all data, documentation, and copyrights related thereto; patent applications; databases; mask works; trade secrets; know-how; ideas; service marks; planned or proposed Website ideas and plans, including but not limited to look and feel; and other intellectual property or proprietary information rights and any and all rights, applications, extensions and renewals in connection therewith (either proposed, filed, or in preparation for filing); and financial information and general confidential business information of Employer.  Such information is confidential and unique, not generally known in the industry, and gives Employer a competitive advantage and significantly enhances Employer's goodwill.

Notwithstanding the foregoing, Confidential Information excludes information not protected by trademark, copyright, patent, or other similar state, federal, or worldwide protection and that, through no fault of Employee, is generally known to the public, is generally employed in the medical device or equipment manufacturing industry at or after the time Employee first learns of such information, or generic information or knowledge which the Employee would have learned in the course of similar employment or work elsewhere in the medical device or equipment manufacturing industry; provided, however, that Employee shall bear the burden of proving that any information disclosed or used by Employee does not meet the definition of Confidential Information set forth above and/or that the disclosure or use of Confidential Information occurred through no fault of Employee.

9.Agreement Confidential.  This Agreement is confidential information owned by Employer. Employee agrees that Employee shall not disclose the terms of this Agreement except to the extent required by law.  Notwithstanding the foregoing, Employee may disclose the terms of this Agreement to Employee’s spouse, attorney, and/or tax advisor.  If Employee discloses the terms of this Agreement to Employee’s spouse, attorney, and/or tax advisor, Employee will advise such person that, as a condition of such disclosure, such person must not disclose the terms of this Agreement except to the extent required by law.

10.Non-Competition Covenant.  As a material term of this Agreement and to protect the goodwill, the Confidential Information, and/or the business of Employer, and Employer's investment in the training and education of Employee, Employee agrees that, beginning on the Termination Date and continuing for twelve (12) months from the later of (i) the Termination Date and (ii) the date that Employee breaches any provisions of this Section 10, Employee shall not, in any state in which Employer did business during the period of Employee’s employment, directly or indirectly, either individually or on behalf of or with any person or entity: 

		
	a.
	compete with or against Employer or engage in any aspect of medical devices that are the same as or similar to or used for the same purpose as those sold by Employer and in competition with Employer; 

		
	b.
	directly or indirectly own, manage, operate, control, be employed by, or provide management or consulting services to any person or entity (other than Employer or any affiliate of Employer) that competes with, or is a competitor of, Employer ("Competing Entity"); 

		
	c.
	discuss the possibility of employment or other relationship with any Competing Entity; 

		
	d.
	render or provide any services to or for any Competing Entity; or 

		
	e.
	discuss or otherwise deal with any client or vendor of Employer regarding the extent or nature of the present or future business of any client or vendor with Employer.  

11.Covenant Not to Provide Services/Solicit.  Employee acknowledges the character of Employer’s Business and the substantial amount of time, money, and effort that Employer has spent and will spend in recruitment of employees, customers and/or accounts.  As a material term of this Agreement and to protect the goodwill, the Confidential Information, and the business of Employer, Employee covenants that, beginning on the Termination Date and continuing for twelve (12) months from the later of (i) the Termination Date and (ii) the date that Employee breaches any of the provisions of this Section 11, Employee shall not, either individually or on behalf of or with any Person, directly or indirectly: 

		
	a.
	provide products or services that are the same as or similar to the business engaged in by Employer to any Person that was a current or former customer or account of Employer at the time Employee’s employment with Employer terminated or during the six (6) month period immediately preceding such termination; 

		
	b.
	solicit or otherwise attempt to sell products or services that are the same as or similar to the business engaged in by Employer to any Person that was a current or former customer or account of Employer at the time Employee’s employment with Employer terminated or during the one (1) year period immediately preceding such termination; 

		
	c.
	solicit or otherwise attempt to sell products or services that are the same as or similar to the business engaged in by Employer to any Person that was a prospective customer, or account whose business Employee solicited as a representative of or on behalf of Employer or with whom Employee became acquainted or whose identity Employee learned of as a consequence of Employee’s employment with Employer within the six (6) month period immediately preceding the termination of Employee’s employment with Employer; 

		
	d.
	solicit or otherwise deal with any customers, suppliers, or contractors of Employer in any manner designed to (or that could) divert business from Employer; and/or 

		
	e.
	solicit, or attempt to solicit, divert, hire away, encourage, or otherwise induce any employee, contractor, or consultant of Employer to terminate his/her/its employment or relationship with Employer.

12.Wages and Commissions Paid in Full.  Except as specifically set forth in Section 2 above, Employee acknowledges and agrees that Employee has received all monies due and owing to Employee from Employer, including without limitation any monies due and owing for wages (including without limitation overtime), accrued but unused vacation benefits, commissions, bonuses, or otherwise and that Employee has no claim against Employer whatsoever for the payment of any further wages (including without limitation overtime), commissions, bonuses, vacation benefits, or other monies except as specifically set forth in Section 2.

13.Nondisparagement.  Employee covenants that, as an agreed on material term of this Agreement, Employee will not make any disparaging remarks (whether or not Employee deems such comments to be true and accurate) about Employer or its officers, directors, and employees and shall refrain from saying or doing anything that reasonably could hold the Employer or its officers, directors, or employees up to disrepute in the eyes of any other person or entity or that reasonably could interfere with Employer’s current or future business plans or activities.

14.Forfeiture of Consideration.  Employee acknowledges and understands that the provisions of Sections 8, 9 and 13 are each a material term of this Agreement and that Employer would not be willing to enter into this Agreement if it did not include the strict confidentiality and nondisparagement obligations set forth herein.  Therefore, if Employee breaches the terms of Sections 8, 9 and 13, then Employee agrees that Employer, in its sole discretion, may require that Employee repay to Employer some or all of the money paid by Employer to Employee under Section 2 above.  In addition, Employee will remain liable for any 

actual damages suffered by Employer and/or any officer, director, or employee arising from or relating to Employee’s breach of the terms of Sections 8, 9 and 13.

15.Not an Admission.  This Agreement is not an admission by any party hereto that either has violated any contract, law, or regulation or that Employer or Employee has discriminated against the other or otherwise infringed on the other’s rights and privileges or done any other wrongful act.

16.Entire Agreement.  This Agreement constitutes the entire integrated understanding between the parties regarding the subject matter hereof and supersedes all negotiations, representations, prior discussions, and preliminary agreements between the parties with respect to the subject matter hereof.  No promise, representation, warranty, or covenant not included in this Agreement has been or is relied upon by either party.   Notwithstanding any statute or case law to the contrary, this Agreement may not be modified except by a written instrument signed by each of the parties, whether or not such modification is supported by separate consideration.

17.No Assignment of Claims.  Employee represents that Employee has not made, and will not make, any assignment of Claim(s) released by this Agreement and that no other person or entity had or has any interest in any Claim(s) released by Employee under this Agreement.  Employee agrees to indemnify and hold harmless Employer from any and all claims, demands,expenses, costs, attorney’s fees, and causes of action asserted by any person or entity due to a violation of this non-assignment provision.

18.Headings.  The headings contained in this Agreement are for ease of reference only and shall not limit or otherwise affect the interpretation of this Agreement.

19.Attorney's Fees.  If a civil action or other proceeding is brought to enforce this Agreement, the prevailing party shall be entitled to recover reasonable attorney's fees, costs, and expenses incurred, in addition to any other relief to which such party may be entitled, whether incurred before or after the filing of a civil action or the entry of judgment.

20.Miscellaneous.  This Agreement shall be governed by the laws of the State of Utah.  Notwithstanding any Utah statutory or case law to the contrary, this Agreement may not be modified except by a document signed by Employer and Employee, whether or not such claimed modification is supported by separate consideration.  Any waiver by any party hereto of any breach of any kind or character whatsoever by any other party, whether such waiver be direct or implied, shall not be construed as a continuing waiver of, or consent to, any subsequent breach of this Agreement on the part of the other party.  In addition, no course of dealing between the parties, nor any delay in exercising any rights or remedies hereunder or otherwise, shall operate as a waiver of any of the rights or remedies of the parties.  This Agreement shall inure to and bind the heirs, devisees, executors, administrators, personal representatives, successors, and assigns, as applicable, of the respective parties hereto.  The parties agree that any dispute between them, whether arising under this Agreement or the enforceability or interpretation thereof, shall be subject to the exclusive jurisdiction of the federal or state courts situated in the State of Utah, and each party hereby submits itself to the personal jurisdiction of the courts situated in the State of Utah.

21.Severability.  If a court of competent jurisdiction shall find that the provisions of Section 4 of this Agreement are unenforceable, whether in whole or in part, then Employer shall have the right, at its sole option, to rescind this Agreement and to cease any payments due and/or to recover from Employee all sums paid by Employer to Employee under Section 2 of this Agreement provided, however, that the provisions of this sentence shall not be enforceable to the extent prohibited by the Age Discrimination in Employment Act or other applicable law.  Except as set forth in the immediately preceding sentence, if any part of this Agreement is found to be unenforceable, the other provisions shall remain fully valid and enforceable.  It is the intention and agreement of the parties that all of the terms and conditions hereof be enforced to the fullest extent permitted by law. 

22.Knowing and Voluntary Execution.  Employee acknowledges that Employee has read this Agreement carefully, has consulted with an attorney or other counsel of Employee’s choice or decided that Employee does not want to do so, and has had the opportunity to ask any questions Employee may have regarding this Agreement.  Employee acknowledges that Employee fully understands the meaning and terms of this Agreement.  Employee acknowledge that Employee has signed this Agreement voluntarily and of Employee’s own free will and that Employee is knowingly and voluntarily releasing and waiving all Claim(s) that Employee has or may claim to have against Employer to the full extent allowed by law.

/s/ MS         
Initials

23.Consultation with Counsel.  Employee acknowledges that Employee has been advised, by this Agreement, to consult an attorney or other counsel of Employee’s choice prior to signing this Agreement.  Each party hereto acknowledges that 

it has had the opportunity, if such party so chooses, to consult with counsel of such party’s choice prior to signing this Agreement.  Each party agrees that it shall be solely responsible for any attorney's fees incurred by that party in the negotiation and execution of this Agreement.

/s/ MS         
Initials

24.    Counterparts.  This Agreement may be executed in one or more counterparts, each of which will be deemed an original and all of which together will constitute one and the same instrument.  Facsimile or other electronically delivered copies of signature pages to this Agreement shall be treated between the parties as original signatures for all purposes.

EMPLOYEE
DATED: April 24, 2015                /s/ Martin Stephens                
Martin Stephens

EMPLOYER
Merit Medical Systems, Inc.

DATED: April 24, 2015                By: /s/ Louise Bott                
Louise Bott, V.P., Global Human ResourcesEX-10.1

 Exhibit 10.1 

EMPLOYMENT AGREEMENT 
 This Third
Amended and Restated EMPLOYMENT AGREEMENT (the “Agreement”) made and entered into by and between GigOptix, Inc., a Delaware corporation (the “Company”) and Raluca Dinu (the “Executive” and, with the
Company, the “Parties”), dated as of August 3, 2015 (the “Effective Date”), amends and restates in its entirety, Executive’s Second Amended and Restated Employment Agreement with the Company dated as of
December 17, 2014. 
 WHEREAS, the Company wishes to retain the services of the Executive to work for the Company as its Executive Vice
President of Global Sales and Marketing (herein referred to as the “Position” or “EVP of Global Sales and Marketing”) upon the terms and conditions hereinafter set forth; and 

WHEREAS, in consideration for continued service in the Position, the Executive has agreed to enter into and be bound by the terms of this
Agreement. 
 For good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Company and the
Executive agree as follows: 
 1. Employment, Term. Subject to the terms and conditions set forth in this Agreement, the Company
hereby employs Executive on a full-time basis in the Position. The Executive’s employment shall continue until terminated as provided herein. The term of this Agreement is hereafter referred to as “the term of this Agreement”
or “the term hereof.” 
 2. Capacity and Performance. 

(a) During the term hereof, the Executive shall serve the Company as its EVP of Global Sales and Marketing reporting to the chief executive
officer of the Company (the “CEO”). 
 (b) During the term hereof, the Executive shall be employed by the Company on a
full-time basis. The Executive shall have the duties and responsibilities assigned to the position by the Company from time to time and such other duties and responsibilities, reasonably consistent with the position, with respect to the business
operations of the Company, as may be assigned by the Company from time to time. 
 (c) Subject to business travel as necessary or desirable
for the performance of the Executive’s duties and responsibilities hereunder, the Executive’s primary worksite during the term hereof shall be at the location of the Company’s offices in San Jose, CA, USA as of the Effective Date (the
“Location”) or such other site as the Company may select from time to time, provided such site is no more than thirty-five (35) miles from the Location unless the Executive has expressly consented in writing thereto. 

(d) During the term hereof, the Executive shall devote her full business time and best efforts, business judgment, skill and knowledge
exclusively to the advancement of the business and interests of the Company and to the discharge of the duties and responsibilities hereunder. During the term of this Agreement, the Executive may engage in passive management of her personal
investments and in such community and charitable activities as do not individually or in the aggregate give rise to a conflict of interest or otherwise interfere with the performance of the duties and responsibilities hereunder. It is agreed that
the Executive shall not accept membership on a board of directors or other governing board of any Person (as defined in Section 12 hereof) or engage in any other business activity without the prior approval of the CEO. It also is agreed that if
the CEO subsequently determines, and gives notice to the Executive, that any such membership or activity, previously approved, is materially inconsistent with the Executive’s obligations under Section 6, Section 7 or Section 8 of
this Agreement or gives rise to a material conflict of interest, the Executive shall cease such activity promptly following notice from the Company. 

3. Compensation and Benefits. As compensation for all services performed by the Executive under and during the term hereof and subject
to performance of the Executive’s duties and of the obligations of the Executive to the Company and its Affiliates, pursuant to this Agreement or otherwise: 

 (a) Salary. As of the Effective Date, the Company shall pay the Executive a base salary at
the rate of two hundred and twenty nine thousand and five hundred Dollars ($229,500) per annum, paid in accordance with the normal payroll practices of the Company and, commencing January 1, 2015, at the rate of two hundred and eighty thousand
Dollars ($280,000) per annum, and thereafter subject to annual review by the Board or its compensation committee and to increase, but not decrease (unless all salaries of executives are decreased proportionately), in the discretion of such committee
or the Board. The Executive’s base salary, as from time to time increased (or decreased in accordance with the foregoing sentence), is hereafter referred to as the “Base Salary.” 

(b) Bonus Compensation. For each fiscal year of the Company completed during the term hereof, subject to the condition set forth in the
final sentence of this provision, the Executive shall have the opportunity to earn an annual bonus (“Annual Bonus”) under the executive incentive plan then applicable to executives of the Company generally, as in effect from time to
time, with the actual amount of each Annual Bonus being determined by the Board or its designated committee based on the achievement of target objectives established by the Board or its designated committee after consultation with the CEO with the
Board or such designated committee to determine whether such target objectives have been achieved. Any Annual Bonus due to the Executive hereunder will be payable not later than two and one-half months following the close of the fiscal year for
which the bonus was earned or as soon as administratively practicable thereafter, within the meaning of Section 409A of the Internal Revenue Code and the regulations promulgated thereunder, each as amended (“Section 409A”).
Except as otherwise provided in Section 4 hereof, the Executive must be employed on the date annual bonuses are paid under the Company’s executive incentive plan in order to be eligible to earn an Annual Bonus for the preceding fiscal
year. 
 (c) Equity Participation. The Executive has been granted stock options and restricted stock units (“RSUs”)
by the Company prior to the Effective Date. Any further equity awards granted to the Executive during her employment with the Company shall be at the discretion of the Board (or its designated committee). 

(d) Employee Benefit Plans. During the term hereof, the Executive shall be entitled to participate in all “Employee Benefit
Plans,” as that term is defined in Section 3(3) of ERISA, including both health and welfare plans and retirement plans, from time to time in effect for executives of the Company generally, except to the extent any of the Employee
Benefit Plans provides a benefit otherwise provided to the Executive under this Agreement (e.g., a severance pay plan). In such case, the Executive will receive the form of the benefit provided under this Agreement and not the Employee Benefit Plan.
The Executive’s participation shall be subject to the terms of the applicable Employee Benefit Plan documents and generally applicable Company policies. 

(e) Paid Time Off. During the term hereof, the Executive will be eligible to earn paid time off at the rate of twenty (20) days per
year, to be taken at such times and intervals as shall be determined by the Executive, subject to the reasonable business needs of the Company and the approval of the CEO. Paid time off shall otherwise be governed by the policies of the Company, as
in effect from time to time, including with regard to accrual. 
 (f) Business Expenses. The Company will pay or reimburse the
Executive for all reasonable, customary and necessary business expenses incurred or paid by the Executive in the performance of her duties and responsibilities hereunder, subject to any maximum annual limit and other restrictions on such expenses
set by the Board (or its designated committee), to such reasonable substantiation, documentation and submission deadlines as may be specified by the Company from time to time. Any such reimbursement that would constitute nonqualified deferred
compensation subject to Section 409A shall be subject to the following additional rules: (i) no reimbursement of any such expense shall affect the Executive’s right to reimbursement of any other such expense in any other taxable year;
(ii) reimbursement of the expense shall be made, if at all, not later than the end of the calendar year following the calendar year in which the expense was incurred; and (iii) the right to reimbursement shall not be subject to liquidation
or exchange for any other benefit. 
 (g) Directors & Officers Insurance Coverage. During the term hereof, the Company shall
provide the Executive the same coverage under any directors and officers (“D&O”) liability insurance that the Company elects to maintain as it provides to its other executives and, after the termination of her employment
hereunder, the same coverage under any D&O liability insurance it elects to maintain, as it provides its other former executives. The Company shall be under no obligation hereunder, however, to maintain any D&O liability insurance. 

 4. Termination of Employment and Opportunity to Earn Post-Employment Compensation.
Notwithstanding the provisions of Section 2 hereof, the Executive’s employment hereunder shall terminate during the term hereof under the following circumstances: 

(a) Death. In the event of the Executive’s death during the term hereof, the Executive’s employment hereunder shall
immediately and automatically terminate. In such event, the Company shall pay as a lump sum to the Executive’s estate, no later than March 15th of the year following the year in which the Date of Termination (as defined in Section 12
hereof) occurs, the Final Compensation (as also defined in Section 12 hereof). In addition to Final Compensation: 
 (A) The Company
will pay to the Executive’s estate an Annual Bonus for the fiscal year in which the Date of Termination occurs (the “Termination Year”), determined by multiplying the Annual Bonus the Executive would have received for the
Termination Year (if any), had she continued employment through the date annual bonuses for the Termination Year were paid to Company executives generally, by a fraction, the numerator of which shall be the number of days the Executive was employed
during the Termination Year, through the Date of Termination, and the denominator of which shall be 365 (the “Final Pro-Rated Bonus”). The Final Pro-Rated Bonus will be paid to the Executive’s estate on the same date that
annual bonuses for the Termination Year are paid to Company executives generally under its executive incentive plan, but no later than March 15th of the year following the Termination Year. 

(B) The Company will pay the full premium cost of health and dental plan coverage for each of Executive’s qualified beneficiaries until
the expiration of the period of twelve (12) months immediately following the Date of Termination or, if earlier, until the date the qualified beneficiary ceases to be eligible for coverage continuation under the federal law commonly known as
“COBRA”; provided, however, that in order to be eligible for the Company’s payments hereunder the qualified beneficiary must elect in a timely manner to continue coverage under the Company’s health and dental plans under
COBRA and must notify the Company promptly if the qualified beneficiary ceases to be eligible for such coverage under COBRA at any time during such twelve (12) month period. 

(C) The Company will pay the Executive’s estate compensation monthly, at the rate of one-twelfth of the Base Salary in effect for the
Termination Year, for that period immediately following the Date of Termination, not to exceed twelve (12) Months of compensation. 

(b) Disability. 
 (i) The
Company may terminate the Executive’s employment involuntarily hereunder, upon notice to the Executive, in the event that the Executive becomes disabled during her employment through any illness, injury, accident or condition of either a
physical or psychological nature and, as a result, is unable to perform substantially all of the duties and responsibilities hereunder, notwithstanding the provision of any reasonable accommodation. In the event of such termination, and provided
that the Executive satisfies in full all of the conditions set forth in Section 4(g) hereof, then, in addition to Final Compensation (which the Company shall pay as a lump sum no later than March 15th of the year following the Termination
Year), the Company shall provide the Executive the following: 
 (A) The Company will pay the Executive a Final Pro-Rated Bonus for the
Termination Year, paid at the time annual bonuses are paid to Company executives generally under its executive incentive plan, but no later than March 15th of the year following the Termination Year, and only if the Executive has signed and not
revoked a Release of Claims within the Claims Release Period. 
 (B) If the Executive satisfies the Release of Claims requirement in
Section 4(g)(i), then the Company will pay the full premium cost of health and dental plan coverage for Executive and her qualified beneficiaries until the expiration of the period of twelve (12) months immediately following the Date of
Termination or, if earlier, until the date the Executive and her qualified beneficiaries cease to be eligible for coverage 

 continuation under COBRA; provided, however, that in order to be eligible for the Company’s premium payments
hereunder, the Executive and each qualified beneficiary must elect in a timely manner to continue coverage under the Company’s health and dental plans under COBRA and must notify the Company promptly if the Executive or any of her qualified
beneficiaries ceases to be eligible for such coverage under COBRA during such twelve (12) month period. 
 (ii) If any question shall
arise as to whether during any period the Executive is disabled through any illness, injury, accident or condition of either a physical or psychological nature so as to be unable to perform substantially all of the duties and responsibilities
hereunder, the Executive may, and at the request of the Company shall, submit to a medical examination by a physician selected by the Company to whom the Executive or the Executive’s duly appointed guardian, if any, has no reasonable objection
to determine whether the Executive is so disabled and such determination shall for the purposes of this Agreement be conclusive of the issue. If such question shall arise and the Executive shall fail to submit to such medical examination, the
Company’s determination of the issue shall be binding on the Executive. 
 (c) By the Company for Cause. The Company may
terminate the Executive’s employment hereunder for Cause at any time upon notice to the Executive setting forth in reasonable detail the nature of such Cause. For purposes of this Agreement, “Cause” shall be limited to:
(i) Executive’s indictment, charge or conviction of, or plea of nolo contendere to, (A) a felony or (B) any other crime involving fraud or material financial dishonesty or (C) any other crime involving moral turpitude that
might be reasonably expected to, or does, materially adversely affect the Company or any of its Affiliates, whether that effect is to economics, to reputation or otherwise; (ii) Executive’s gross negligence or willful misconduct with
regard to the Company or any of its Affiliates, which has a material adverse impact on Company or any of its Affiliates, whether economic or to reputation or otherwise; (iii) Executive’s refusal or willful failure to substantially perform
the duties or to follow a material lawful written directive of the CEO or the Board within the scope of the Executive’s duties hereunder which refusal or failure remains uncured or continues thirty (30) days after written notice from the
CEO or the Board which references the potential for a “for Cause” termination and specifies in reasonable detail the nature of the refusal or willful failure which must be cured; (iv) Executive’s theft, fraud or any material act
of financial dishonesty related to the Company or any of its Affiliates; (v) the failure by the Executive to disclose any legal impediments to the employment by the Company or breach of any of the obligations to a former employer in connection
with the employment by the Company (e.g., the disclosure or use of proprietary confidential information of a former employer on behalf of the Company without such former employer’s consent); provided that Executive has been provided with
written notification of any of such failure or breach and has been given five (5) days to present any mitigating, corrective or clarifying information to the CEO or the Board; (vi) the Executive’s breach or violation of those
provisions of this Agreement setting forth the Executive’s obligations with respect to confidentiality, non-competition and non-solicitation; or (vii) the Executive’s breach of any other material provision of this Agreement unless
corrected by the Executive within thirty (30) days of the Company’s written notification to the Executive of such breach. In the event of such termination, the Company shall make no payments to the Executive under this Agreement other than
provision of Final Compensation, which will be paid no later than March 15th of the year following the Termination Year. Any equity in the Company held by the Executive on the Date of Termination hereunder shall be governed by the terms of the
Company’s equity incentive plans and the Executive’s agreements thereunder and shall not be governed by this Agreement. 
 (d)
By the Company other than for Cause. The Company may terminate the Executive’s employment hereunder other than for Cause at any time upon notice to the Executive. In the event of such termination and provided that the Executive satisfies
the conditions set forth in Section 4(g)(i) and as otherwise provided herein, then, in addition to Final Compensation, the Executive, as compensation for her satisfying those conditions, shall be entitled to earn the following (in the
aggregate, “ Post-Employment Compensation”): 
 (i) The Company will pay the Executive a Final Pro-Rated Bonus for the
Termination Year, paid at the time annual bonuses for that year are paid to Company executives generally under its executive incentive plan, but no later than March 15th of the year following the Termination Year, and only if the Executive has
signed and not revoked a Release of Claims within the Claims Release Period. 

 (ii) To the extent a Change of Control (as defined in Section 12) has not occurred, the
Company will pay the Executive compensation monthly, at the rate of one-twelfth of the Base Salary in effect for the Termination Year, for each consecutive month (up to six (6) months) immediately following the Date of Termination that the
Executive satisfies in full all of the conditions set forth in Section 4(g) hereof (“Non-Change of Control Post-Employment Compensation”). Should the Executive cease to satisfy in full any of the conditions set forth in
Section 4(g) hereof at any time during the six-month period immediately following the Date of Termination, the Company will not make any further payment to the Executive under this paragraph (ii). Such monthly payments shall commence on the
next regular Company payday that is at least five (5) business days following the later of the effective date of the Release of Claims or the date the Release of Claims, signed by the Executive, is received by the Person designated by the
Company to receive notices on its behalf in accordance with Section 17 hereof (provided, however, that if the Claims Release Period, as defined in Section 4(g)(i) below, spans two taxable years, the payments shall commence in the second
taxable year). Furthermore, the Company will pay the Executive additional compensation equal to six (6) months’ Base Salary in effect for the Termination Year, in a lump sum, on the tenth business day following the expiration of the period
of six (6) months immediately following the Date of Termination, provided that Executive was eligible to earn Non-Change of Control Post-Employment Compensation in accordance with this Agreement and has fulfilled all of the conditions set forth
in Section 4(g) hereof (which include without limitation the referenced obligations under Sections 6 and 7 hereof) during such six (6) month period. In the event termination is within twelve (12) months following a Change of Control,
then, provided that the Executive elects to earn post-employment compensation and complies with the requirements set forth in the second sentence of Section 4(d) and in Sections 4(g), 6 and 7 hereof, the Company will pay the Executive
compensation (“Change of Control Post-Employment Compensation”) equal to twelve (12) months of Base Salary in effect in the Termination Year and bonus (based on the average of the Annual Bonuses paid to the Executive for the
two fiscal years completed prior to the Change of Control or, if only one such fiscal year has been completed, then based on the amount of the Annual Bonus for such fiscal year), in a lump sum, on the tenth (10th) business day following the earlier
of the effective date of the Release of Claims signed by the Executive, or the date the Release of Claims, signed by the Executive, is received on behalf of the Company by such other person as has been designated by the Company to receive notices on
its behalf in accordance with Section 17 hereof (provided, however, that if the Claims Release Period spans two taxable years, the payment shall occur in the second taxable year). 

(iii) If the Executive satisfies the Release of Claims requirement in Section 4(g)(i), then the Company will pay the full premium cost of
health and dental plan coverage for Executive and her qualified beneficiaries until the earliest to occur of (A) the date the Executive elects to cease meeting the conditions set forth in Section 4(g) hereof, (B) the expiration of
twelve (12) months following the Date of Termination, (C) the date the Executive becomes eligible for participation in health and dental plans of another employer or (D) the date the Executive ceases to be eligible for participation
under the Company’s health and dental plans under COBRA; provided, however, that, in order to be eligible for the Company’s payments hereunder, the Executive and each of her qualified beneficiaries must elect in a timely
manner to continue coverage under the Company’s health and dental plans under COBRA. 
 (iv) 50% of Executive’s outstanding
unvested equity awards shall vest and, if the awards require exercise, be exercisable for a period of three (3) months following termination of employment, and 50% of the remaining undelivered shares shall be delivered for such awards that are
of stock units, including RSUs. Notwithstanding the foregoing, in the event termination of Executive’s employment is within twelve (12) months following a Change of Control and awards are assumed or substituted for with equivalent awards
by the successor corporation or a parent or subsidiary of such successor corporation, then, all of Executive’s outstanding unvested equity awards shall vest and, if the awards require exercise, be exercisable for a period of three
(3) months following termination of employment, and all of the remaining undelivered shares shall be delivered for such awards that are of stock units, including RSUs. 

(e) By the Executive for Good Reason. The Executive may terminate the employment hereunder for Good Reason, whether preceding or
following a Change in Control, by providing notice to the Company of the condition giving rise to the Good Reason no later than thirty (30) days following the occurrence of the condition, by giving the Company thirty (30) days to remedy
the condition and by terminating employment for Good Reason within thirty (30) days thereafter if the Company fails to remedy the condition. For purposes of this Agreement, “Good Reason” shall mean the occurrence of any one or
more of the following events without the Employee’s consent: (i) a material breach of this Agreement by the Company; (ii) a material diminution of the Executive’s title from that of EVP of Global Sales and Marketing or a material
adverse change in the Executive’s significant duties, authority or responsibilities, taken as a whole, that effectively constitutes a demotion; (iii) any 

 reduction in (except to the extent all executives receive a proportional decrease) or failure to pay the Base
Salary; or (iv) any relocation of the Executive’s primary worksite to a site that is more than thirty-five (35) miles from the assigned Location without her consent in accordance with this Agreement. To the extent a Change of Control
(as defined in Section 12) has not occurred, in the event of termination in accordance with this Section 4(e), and provided that the Executive satisfies the conditions set forth in Section 4(g) hereof, then, in addition to Final
Compensation (which the Company shall pay as a lump sum no later than March 15th of the year following the Termination Year), the Company shall provide the Executive the same opportunity (utilizing the same time and form of payment) to earn
Non-Change of Control Post-Employment Compensation as she would have received had the employment been terminated by the Company other than for Cause under Section 4(d) hereof and received Non-Change of Control Post-Employment Compensation. In
addition, in the event termination of Executive’s employment is within twelve (12) months following a Change of Control, then, provided that the Executive elects to earn post-employment compensation and complies with the requirements set
forth in the second sentence of Section 4(d) and in Sections 4(g), 6 and 7 hereof, the last sentence of Section 4(d)(iv) shall apply and the Company shall provide the Executive the same opportunity to earn Change of Control Post-Employment
Compensation as she would have received had her employment been terminated by the Company other than for Cause under Section 4(d) hereof and she received Change of Control Post-Employment Compensation. 

(f) By the Executive Other than for Good Reason. The Executive may terminate her employment hereunder at any time upon sixty
(60) days’ notice to the Company. In the event of termination of the Executive pursuant to this Section 4(f), the CEO may elect to waive the period of notice, or any portion thereof, and, if the CEO so elects, the Company will pay the
Executive the Base Salary for the initial sixty (60) days of the notice period (or for any remaining portion of thereof). 
 (g)
Conditions. The Executive’s eligibility to receive and retain any Post-Employment Compensation, as set forth in Section 4 hereof, is subject to satisfaction of all of the following as well as the covenant of confidentiality set
forth in Section 6 below and the assignment of rights to Intellectual Property (as hereafter defined), but with the express understanding and agreement of the parties that the Executive is free to elect not to comply with clause (i) below
and is free not to forbear from competition or solicitation as set forth in clauses (ii), (iii) and (iv) immediately below, but that her right to Post-Employment Compensation under this Agreement is expressly conditioned on compliance with
said clause (i) and the forbearance required under all of said clauses (ii), (iii) and (iv), as well as full satisfaction of the obligations under the covenant of confidentiality and assignment of rights to Intellectual Property (which
obligations are not optional and shall survive any termination, howsoever occurring). The conditions to receipt of Post-Employment Compensation are as follows: 

(i) The Executive’s execution and return, to the Person designated by the Company to receive notices on its behalf in accordance with
Section 17 hereof, of a timely and effective release of claims in the form attached hereto and marked Exhibit A (“Release of Claims”). Such a Release of Claims will be timely and effective if it is signed by the
Executive, submitted to the Company, and becomes irrevocable within 28 days following termination of employment (such 28-day period, the “Claims Release Period”). The Release of
Claims creates legally binding obligations and the Company therefore advises the Executive to consult an attorney before signing it. 
 (ii)
Forbearance by the Executive for six (6) months following the Date of Termination from competition with the business of the Company and its Affiliates anywhere in the world where the Company or any of those Affiliates is doing business, whether
as owner, partner, investor, consultant, agent, employee, co-venturer or otherwise. Specifically, but without limiting the foregoing, in order to satisfy this condition, the Executive must forbear from engaging in any activity that is competitive,
or is in preparation to engage in competition, with the business of the Company and its Affiliates and further the Executive must forbear from working or providing services, in any capacity, whether as an employee, independent contractor or
otherwise, whether with or without compensation, for or to any Person engaged in the business of the Company and its Affiliates. The business of the Company and its Affiliates is optical network equipment. The foregoing condition, however, shall not
fail to be met solely due to the Executive’s passive ownership of less than 3% of the equity securities of any publicly traded company. 

 (iii) Forbearance by the Executive for six (6) months following the Date of Termination
from any direct or indirect solicitation or encouragement of any of the Customers of the Company or any of its Affiliates to terminate or diminish her relationship with the Company or any of its Affiliates and from any direct or indirect
solicitation or encouragement of any of the Customers or Prospective Customers of the Company or any of its Affiliates to conduct with the Executive or with any other Person any business or activity which such Customer or Prospective Customer
conducts or could conduct with the Company or any of its Affiliates. For purposes of this Section 4(g), a Customer is a Person which was such at any time during the twelve (12) months immediately preceding the Date of Termination and a
Potential Customer is a Person contacted by the Company or any of its Affiliates to become a Customer at any time within twelve (12) months prior to the Date of Termination other than by general advertisement, provided in each case, however,
that the Executive had contact with such Customer or Potential Customer through her employment or her other associations with the Company or any of its Affiliates or had access to Confidential Information that would assist in her solicitation of
such Customer or Potential Customer in competition with the Company or any of its Affiliates. 
 (iv) Forbearance by the Executive for six
(6) months following the Date of Termination from directly or indirectly hiring or otherwise engaging the services of any employee, independent contractor or other agent providing services to the Company or any of its Affiliates and from
soliciting any such employee, independent contractor or agent to terminate or diminish his/her/its relationship with the Company or any of its Affiliates (notwithstanding the foregoing, any longer period provided for in the Confidentiality,
Nondisclosure and Nonsolicitation Agreement with the Company shall not be superseded by the preceding language). For purposes of this Section 4(g), an employee, independent contractor or agent means any Person performing services for the
Company or any of its Affiliates in such capacity at any time during the twelve (12) months immediately preceding the Date of Termination. 

(h) Timing of Payments. Notwithstanding anything to the contrary in this Agreement, if at the time of the Executive’s separation
from service the Executive is a “specified employee,” as hereinafter defined, any and all amounts payable under this Agreement on account of that separation from service that constitute deferred compensation subject to Section 409A,
as determined by the Company in its reasonable good faith discretion, and that would (but for this provision) be payable within six (6) months following the date of termination, shall instead be paid on the next business day following the
expiration of that six month period. Also, for purposes of this Agreement, the phrase “termination of employment” and correlative phrases mean a “separation from service” as defined in Treas. Regs.§1.409A-1(h), and the term
“specified employee” means an individual determined by the Company to be a specified employee under Treas. Regs.§1.409A-1(i). For the avoidance of doubt, any tax liability to which the Executive is subject under Section 409A
shall be solely the Executive’s responsibility. 
 5. Effect of Termination. The provisions of this Section 5 shall apply
to any termination of the Executive’s employment under this Agreement, whether pursuant to Section 4 or otherwise. 
 (a) Provision
by the Company of Final Compensation, if any, to which the Executive is entitled and Post-Employment Compensation, if any, which the Executive has the opportunity to earn under Section 4(d) or 4(e) hereof and does earn in accordance with
Section 4(g) shall constitute the entire obligation of the Company to the Executive hereunder following termination of her employment with the Company. The Executive shall promptly give the Company notice of all facts necessary for the Company
to determine the amount and duration of its obligations in connection with any termination pursuant to Section 4 hereof. 
 (b) Except
for health and dental plan participation continued in accordance with COBRA, the Executive’s participation in Employee Benefit Plans shall terminate pursuant to the terms of the applicable Plan Documents based on the Date of Termination without
regard to any Post-Employment Compensation earned by the Executive, or any other payment to her hereunder, following the Date of Termination. 

(c) Provisions of this Agreement shall survive any termination if so provided herein or if necessary or desirable to accomplish the purposes of
other surviving provisions, including without limitation the conditions to earning Post-Employment Compensation set forth in Section 4(g) and the obligations of the Executive under Sections 6 and 7 hereof. The Executive recognizes that, except
as expressly provided in accordance with Sections 4(d), 4(e) and 4(g) (with respect to Post-Employment Compensation) or Section 4(f) (with respect to Base Salary for any notice period waived), no compensation is earned after termination of
employment. 

 6. Confidential Information. 

(a) The Executive acknowledges that the Company and its Affiliates continually develop Confidential Information (as defined in Section 12
hereof); that the Executive may develop Confidential Information for the Company or its Affiliates; and that the Executive may learn of Confidential Information during the course of employment. The Executive will comply with the policies and
procedures of the Company and its Affiliates for protecting Confidential Information and shall not disclose to any Person or use, other than as required by applicable law or for the proper performance of her duties and responsibilities to the
Company and its Affiliates, any Confidential Information obtained by the Executive incident to her employment or other association with the Company or any of its Affiliates. The Executive understands that the restrictions set forth in this
Section 6(a) shall continue to apply after her employment terminates, regardless of the reason for such termination. 
 (b) All
documents, records, tapes and other media of every kind and description relating to the business, present or otherwise, of the Company or any of its Affiliates and any copies, in whole or in part, thereof (in the aggregate, the
“Documents”), whether or not prepared by the Executive, shall be the sole and exclusive property of the Company and its Affiliates. The Executive shall safeguard all Documents and shall surrender to the Company at the time her
employment terminates, or at such earlier time or times as the CEO or the Board or its designee may specify, all Documents and all other property of the Company and its Affiliates then in the Executive’s possession or control. 

7. Assignment of Rights to Intellectual Property. The Executive shall promptly and fully disclose all Intellectual Property (as defined
in Section 12 hereof) to the Company. The Executive hereby assigns and agrees to assign to the Company (or as otherwise directed by the Company) the Executive’s full right, title and interest in and to all Intellectual Property. The
Executive agrees to execute any and all applications for domestic and foreign patents, copyrights or other proprietary rights and to do such other acts (including without limitation the execution and delivery of instruments of further assurance or
confirmation) requested by the Company to assign the Intellectual Property to the Company and to permit the Company to enforce any patents, copyrights or other proprietary rights to the Intellectual Property. The Executive will not charge the
Company for time spent in complying with these obligations. The Executive acknowledges her understanding that any provision of this Agreement requiring her to assign rights to Intellectual Property does not apply to any invention that qualifies
under California Labor Code §2870, which is reproduced in Exhibit B (“Written Notification to the Employee”), attached hereto, which the Executive here acknowledges that she has received. All copyrightable works that the
Executive creates during the course of her employment by the Company and which pertains to the business of the Company or is suggested by any work performed by the Executive for the Company or makes use of Confidential Information shall be
considered “work made for hire” and, upon creation, shall be owned exclusively by the Company. Further, the Executive hereby waives, expressly and irrevocably, any and all moral rights she may have as an author, whether arising under the
copyright laws of the United States or any other jurisdiction or at common law or otherwise, with respect to any copyrighted works prepared by the Executive in the course of her employment, including without limitation the right to attribution of
authorship, the right to restrain any distortion, mutilation or other modification of any such work and the right to prohibit any use of any such work in association with a product, service, cause or institution that might be prejudicial to the
Company’s reputation. 
 8. Restricted Activities. The Executive agrees that certain restrictions on activities during the
employment are necessary to protect the goodwill, Confidential Information and other legitimate interests of the Company and its Affiliates: 

(a) While the Executive is employed by the Company, the Executive shall not, directly or indirectly, whether as owner, partner, investor,
consultant, agent, employee, co-venturer or otherwise, compete with the Company or any of its Affiliates anywhere in the world or undertake any planning for competition with the Company or any of its Affiliates Specifically, but without limiting the
foregoing, the Executive agrees not to engage in any manner in any activity that is directly or indirectly competitive or potentially competitive with the business of the Company or any of its Affiliates as conducted or under consideration at any
time during the Executive’s employment or to provide services in any capacity to a Person which is a competitor of the Company or any of its Affiliates. 

 (b) The Executive agrees that, while she is employed by the Company, and excluding any activities
undertaken on behalf of the Company or any of its Affiliates in the course of her duties, the Executive will not hire or attempt to hire any employee of the Company or any of its Affiliates; assist in such hiring by any Person; encourage any such
employee to terminate his or her relationship with the Company or any of its Affiliates; or solicit or encourage any customer of the Company or any of its Affiliates to terminate or diminish its relationship with them; or solicit or encourage any
customer or potential customer of the Company or any of its Affiliates to conduct with any Person any business or activity which such customer or potential customer conducts or could conduct with the Company or any of its Affiliates. 

(c) The Executive agrees that during the employment by the Company the Executive shall not publish any work that disparages the Company or any
of its Affiliates, their management or their business or the Products. 
 9. Enforcement of Covenants. The Executive acknowledges that
she has carefully read and considered all the terms and conditions of this Agreement, including the restraints imposed upon her pursuant to Sections 6, 7 and 8 hereof. The Executive agrees that those restraints are necessary for the reasonable and
proper protection of the Company and its Affiliates and that each and every one of the restraints is reasonable in respect to subject matter, length of time and geographic area. The Executive further acknowledges that, were she to breach any of the
covenants contained in Sections 6, 7 or 8 hereof, the damage to the Company and its Affiliates would be irreparable. The Executive therefore agrees that the Company, in addition to any other remedies available to it, shall be entitled to preliminary
and permanent injunctive relief against any breach or threatened breach by the Executive of any of said covenants, without having to post bond. The parties further agree that, in the event that any provision of Section 6, 7 or 8 hereof shall be
determined by any court of competent jurisdiction to be unenforceable by reason of its being extended over too great a time, too large a geographic area or too great a range of activities, such provision shall be deemed to be modified to permit its
enforcement to the maximum extent permitted by law. 
 10. Conflicting Agreements. The Executive hereby represents and warrants that
the execution of this Agreement and the performance of obligations hereunder will not breach or be in conflict with any other agreement to which the Executive is a party or is bound and that the Executive is not now subject to any covenants against
competition or similar covenants or any court order or other legal obligation that would affect the performance of their obligations hereunder. The Executive will not disclose to or use on behalf of the Company any proprietary information of her
former employer or any other Person without such Person’s consent. 
 11. Indemnification. The Company shall indemnify the
Executive in accordance with its articles of organization and by-laws as in effect at the time indemnification is applicable. The Executive agrees promptly to notify the Company of any actual or threatened claim arising out of or as a result of her
employment or offices with the Company or any of its Affiliates. 
 12. Definitions. Words or phrases which are initially capitalized
or are within quotation marks shall have the meanings provided in this Section and as provided elsewhere herein. For purposes of this Agreement, the following definitions apply: 

(a) “Affiliates” means all Persons directly or indirectly controlling, controlled by or under common control with the entity
specified, where control may be by management authority, contract or equity interest. 
 (b) A “Change of Control” shall be
deemed to take place if hereafter (A) any “Person” or “group,” within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934 (the “Act”), other than the Company or any of its
Affiliates, becomes a beneficial owner (within the meaning of Rule 13d-3 as promulgated under the Act), directly or indirectly, in one or a series of transactions, of securities representing fifty percent (50%) or more of the total number of
votes that may be cast for the election of directors of the Company and two-thirds of the Board has not consented to such event prior to its occurrence or within sixty (60) days thereafter, provided that if the consent occurs after the event it
shall only be valid for purposes of this Section 12(b) if a majority of the consenting Board is comprised of directors of the Company who were such immediately prior to the event; (B) any merger or consolidation involving the Company or
any sale of all or substantially all of the assets of the Company, or any combination of the foregoing, and two-thirds of the Board has not consented to such event 

 
prior to its occurrence or within sixty (60) days thereafter, provided that if the consent occurs after the event it shall only be valid for purposes of this Section 12(b) if a majority
of the consenting Board is comprised of directors of the Company who were such immediately prior to the event; (C) within twelve (12) months after a tender offer or exchange offer for voting securities of the Company (other than by the
Company) the individuals who were directors of the Company immediately prior thereto shall cease to constitute a majority of the Board; or (D) there occurs a closing of a sale or other disposition by the Company of all or substantially all of
the assets of the Company other than to one or more of the Company’s Affiliates. 
 (c) “Confidential Information”
shall mean any and all information of the Company and its Affiliates that is not generally known by those with whom the Company or any of its Affiliates competes or does business, or with whom the Company or any of its Affiliates plans to compete or
do business, including without limitation (i) information related to the Products, technical data, methods, processes, know-how and inventions of the Company and its Affiliates, (ii) the development, research, testing, marketing and
financial activities and strategic plans of the Company and its Affiliates, (iii) the manner in which they operate, (iv) their costs and sources of supply, (v) the identity and special needs of the customers and prospective customers
of the Company and its Affiliates and (vi) the Persons with whom the Company and its Affiliates have business relationships and the nature and substance of those relationships. Confidential Information also includes any information that the
Company or any of its Affiliates may receive or has received from customers, subcontractors, suppliers or others, with any understanding, express or implied, that the information would not be disclosed. Confidential Information does not include
information that enters the public domain, other than through a breach by the Executive or another Person of an obligation of confidentiality to the Company or one of its Affiliates. 

(d) “Date of Termination” means the date the Executive’s employment with the Company terminates, regardless of the reason
for such termination. 
 (e) “Final Compensation” means (i) Base Salary earned but not paid through the Date of
Termination, (ii) pay at the final rate of the Base Salary for any paid time off earned but not used through the Date of Termination and (iii) any business expenses incurred by the Executive but un-reimbursed on the Date of Termination,
provided that such expenses and required substantiation and documentation are submitted prior to, or within sixty (60) days following, the Date of Termination and that such expenses are reimbursable under Section 3(g) hereof and Company
policies. 
 (f) “Intellectual Property” means any invention, formula, process, discovery, development, design, innovation
or improvement (whether or not patentable or registrable under copyright statutes) made, conceived, or first actually reduced to practice by the Executive solely or jointly with others, during her employment by the Company; provided, however, that,
as used in this Agreement, the term “Intellectual Property” shall not apply to any invention that the Executive develops on her own time, without using the equipment, supplies, facilities or trade secret information of the Company or any
of its Affiliates to which the Executive has access as a result of her employment, unless such invention (i) relates at the time of conception or reduction to practice of the invention (A) to the business of the Company or (B) to the
actual or demonstrably anticipated research or development of the Company or (iii) results from any work performed by the Executive for the Company. 

(g) Other than for purposes of Section 12(b), above, “Person” means an individual, a corporation, a limited liability
company, an association, a partnership, an estate, a trust and any other entity or organization, other than the Company or any of its Affiliates. 

(h) “Products” means all products planned, researched, developed, tested, manufactured, sold, licensed, leased or otherwise
distributed or put into use by the Company or any of its Affiliates, together with all services provided or planned by the Company or any of its Affiliates, during the Executive’s employment. 

13. Withholding. All payments made by the Company under this Agreement shall be reduced by any tax or other amounts required to be
withheld by the Company under applicable law. 
 14. Assignment. Neither the Company nor the Executive may make any assignment of this
Agreement or any interest herein, by operation of law or otherwise, without the prior written consent of the other; provided, however, that the Company may assign its rights and obligations under this Agreement without the

 
consent of the Executive in the event the Company shall hereafter effect a corporate reorganization, consolidate with, or merge into, any Person or transfer all or substantially all of its
properties or assets to any Person. This Agreement shall inure to the benefit of and be binding upon the Company and the Executive, their respective successors, executors, administrators, heirs and permitted assigns. 

15. Severability and Construction. If any portion or provision of this Agreement shall to any extent be declared illegal or
unenforceable by a court of competent jurisdiction, then the remainder of this Agreement, or the application of such portion or provision in circumstances other than those as to which it is so declared illegal or unenforceable, shall not be affected
thereby, and each portion and provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law. This Agreement shall be interpreted and applied in all circumstances in a manner that is consistent with the intent of
the parties that, to the extent applicable, amounts earned and payable pursuant to this Agreement shall constitute short-term deferrals exempt from the application of Section 409A and, if not exempt, that amounts earned and payable pursuant to
this Agreement shall not be subject to the premature income recognition or adverse tax provisions of Section 409A. 
 16. Waiver.
No waiver of any provision hereof shall be effective unless made in writing and signed by the waiving party. The failure of either party to require the performance of any term or obligation of this Agreement, or the waiver by either party of any
breach of this Agreement, shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any subsequent breach. 

17. Notices. Any and all notices, requests, demands and other communications provided for by this Agreement shall be in writing and
shall be effective when delivered in person, consigned to a reputable national courier for next day or next business day delivery or deposited in the United States mail, postage prepaid, registered or certified, and addressed to the Executive at her
last known address on the books of the Company or, in the case of the Company, to it at 130 Baytech Drive, San Jose, CA 95134, or to such other address as either party may specify by notice to the other actually received. 

18. Entire Agreement. This Agreement contains the entire agreement of the parties, and supersedes all prior agreements, including the
Second Amended and Restated Employment Agreement dated December 17, 2014 which it hereby terminates, whether written or oral, with respect to the Executive’s employment and all related matters, except for the agreements set forth on
Exhibit C hereto, which shall remain in effect. 
 19. Amendment. This Agreement may be amended or modified only by a written
instrument signed by the Executive and by an expressly authorized representative of the Board. 
 20. Headings. The headings and
captions in this Agreement are for convenience only and in no way define or describe the scope or content of any provision of this Agreement. 

21. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be an original and all of which
together shall constitute one and the same instrument. 
 22. Governing Law. This is a California contract and shall be construed and
enforced under and be governed in all respects by the laws of the State of California, without regard to the conflict of laws principles thereof, and, for the avoidance of doubt, shall include both the statutory and common law of California, except
to the extent preempted by federal law. 
 [Remainder of page intentionally left blank. Signature page follows immediately.] 

 IN WITNESS WHEREOF, this Agreement has been executed by the Company, by its duly authorized representative, and
by the Executive, as of the date first above written. 
  

							
	THE EXECUTIVE:	 		 	 THE COMPANY:
 GIGOPTIX,
INC.

				
	 /s/ Raluca
	 		 	By:	 	 /s/ Avi Katz

	Raluca Dinu	 		 	Name: Avi Katz
	08/04/15	 		 	Title: CEO             08/05/15

 EXHIBIT A 

RELEASE OF CLAIMS 
 FOR AND IN CONSIDERATION OF
the Post-Employment Compensation that I am eligible to earn following the termination of my employment, as that term is defined in the employment agreement between me and GigOptix, Inc. (the “Company”) dated as of August 3,
2015 (the “Agreement”), which is conditioned, inter alia, on my signing this Release of Claims and to which I am not otherwise entitled, and for other good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, I, on my own behalf and on behalf of my heirs, executors, administrators, beneficiaries, representatives and assigns, and all others connected with or claiming through me, hereby release and forever discharge the Company and its
Affiliates (as that term is defined in the Agreement) and all of their respective past, present and future officers, directors, trustees, shareholders, employees, agents, general and limited partners, members, managers, joint venturers,
representatives, successors and assigns, and all others connected with any of them (all of the foregoing, collectively, the “Released”), both individually and in their official capacities, from any and all causes of action, rights
and claims of any type or description, known or unknown, which I have had in the past, now have, or might now have, through the date of my signing of this Release of Claims, including without limitation any causes of action, rights or claims in any
way resulting from, arising out of or connected with my employment by the Company or any of its Affiliates or the termination of that employment or pursuant to any federal, state or local law, regulation or other requirement, including without
limitation Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, the Americans with Disabilities Act and the fair employment practices laws of the state or states in which I have been employed by the Company or any of
its Affiliates, each as amended from time to time, (all of the foregoing, in the aggregate, “Claims”). 
 In signing this Release of
Claims, I expressly waive and relinquish all rights and benefits afforded by Section 1542 of the Civil Code of the State of California, and do so understanding and acknowledging the significance of such specific waiver of Section 1542,
which Section states as follows: 
 A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor
at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor. 
 Thus,
notwithstanding the provisions of Section 1542, and for the purpose of implementing a full and complete release and discharge of the Released, I expressly acknowledge that this Release of Claims is intended to include in its effect, without
limitation, all Claims which I do not know or suspect to exist in my favor at the time of execution hereof, and that this Release of Claims contemplates the extinguishment of all such Claims. 

Excluded from the scope of this Release of Claims is (i) any claim arising under the terms of the Agreement after the effective date of this Release of
Claim and (ii) any right of indemnification or contribution that I have pursuant to the articles of incorporation, by-laws or other governing documents of the Company or any of its Affiliates (as that term is defined in the Agreement). 

In signing this Release of Claims, I acknowledge my understanding that I may not sign it prior to the termination of my employment, but that I may consider
the terms of this Release of Claims for up to twenty-one (21) days from the date my employment with the Company terminates. I also acknowledge that I am advised by the Company and its Affiliates to seek the advice of an attorney prior to
signing this Release of Claims; that I have had and full and sufficient time to consider this Release of Claims and to consult with an attorney, if I wished to do so, or to consult with any other person of my choosing before signing; and that I am
signing this Release of Claims voluntarily and with a full understanding of its terms. 
 I further acknowledge that, in signing this Release of Claims, I
have not relied on any promises or representations express or implied, that are not set forth expressly in the Agreement. 
 I understand that I may revoke
this Release of Claims at any time within seven (7) days of the date of my signing by written notice to the Company c/o Human Resources or to such other designated person and/or address as the Company may specify and that this Release of Claims
shall take effect on the eighth calendar day following the date of my signing it and only if I have not timely revoked it. 

 Intending to be legally bound, I have signed this Release of Claims as of the date written below. 

 

					
	Signature:                                    
                              	 		 	
			
	Date
Signed:                                        
                     	 		 	

 EXHIBIT B 

WRITTEN NOTIFICATION TO THE EMPLOYEE 
 In
accordance with California Labor Code §§ 2870 and 2872, GigOptix, Inc. (the “Company”) hereby notifies you that your acceptance, by your signing, of the Employment Agreement to which this notice is attached as Exhibit B
does not require you to assign to the Company any Intellectual Property (as defined in Section 12 of the Employment Agreement) or any other invention for which no equipment, supplies, facility or trade secret information of the Company was used
and that was developed entirely on your own time, and does not relate to the business of the Company or to the Company actual or demonstrably anticipated research or development, or does not result from any work performed by you for the Company.

 The following is the text of California Labor Code § 2870: 

§ 2870 (a) Any provision in an employment agreement which provides that an employee shall assign, or offer to assign, any of his or
her rights in an invention to his or her employer shall not apply to an invention that the employee developed entirely on his or her own time without using the employer’s equipment, supplies, facilities, or trade secret information except for
those inventions that either: 
 1. Relate at the time of conception or reduction to practice of the invention to the employer’s
business, or actual or demonstrably anticipated research or development of the employer; or 
 2. Result from any work performed by the
employee for the employer. 
 (b) To the extent a provision in an employment agreement purports to require an employee to assign an invention otherwise
excluded from being required to be assigned under subdivision (a), the provision is against the public policy of this state and is unenforceable. 

 EXHIBIT C 

(List of Other Employment Agreements Still in Effect)

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