Document:

Prepared by R.R. Donnelley Financial -- 1994 Equity Incentive Plan

  Exhibit 10.14 
  ELANTEC, INC. 
   1994 EQUITY INCENTIVE PLAN  
  as Adopted December 29, 1993 
 and Amended Through February 2, 1995 
              1.
     PURPOSE .  The purpose of the Plan is to provide incentives to attract, retain and motivate eligible persons whose present and potential contributions are important to the success of the Company, its Parent,
Subsidiaries and Affiliates, by offering them an opportunity to participate in the Company’s future performance through awards of Options, Restricted Stock and Stock Bonuses. Capitalized terms not defined in the text are defined in Section
23.
              2.      SHARES SUBJECT TO THE PLAN . 
                         2.1    Number of Shares Available . Subject to Sections 2.2 and 18, the
total number of Shares reserved and available for grant and issuance pursuant to the Plan shall be 6,100,000 Shares. Subject to Sections 2.2 and 18, Shares shall again be available for grant and issuance in connection with future Awards under the
plan that: (a) are subject to issuance upon exercise of an Option but cease to be subject to such Option for any reason other than exercise of such Option, (b) are subject to an Award granted hereunder but are forfeited or are repurchased by the
Company at the original issue price, or (c) are subject to an Award that otherwise terminates without Shares being issued.
                         2.2    Adjustment of Shares . In the event that the number of outstanding
Shares is changed by a stock dividend, recapitalization, stock split, reverse stock split, subdivision, combination, reclassification or similar change in the capital structure of the Company without consideration, then (a) the number of Shares
reserved for issuance under the Plan, (b) the Exercise Prices of and number of Shares subject to outstanding Options, and (c) the number of Shares subject to other outstanding Awards shall be proportionately adjusted, subject to any required action
by the Board or the shareholders of the Company and compliance with applicable securities laws;  provided ,  however , that fractions of a Share shall not be issued but shall either be paid in cash at Fair Market Value or shall be
rounded up to the nearest Share, as determined by the Committee.
              3 .     ELIGIBILITY . ISOs (as
defined in Section 5 below) may be granted only to employees (including officers and directors who are also employees) of the Company or of a Parent or Subsidiary of the Company. All other Awards may be granted to employees, officers, directors,
consultants, independent contractors and advisors of the Company or any Parent, Subsidiary or Affiliate of the Company;  provided , such consultants, contractors and advisors render bona fide services not in connection with the offer and sale
of securities in a capital raising transaction. A person may be granted more than one Award under the Plan.

  
              4.      ADMINISTRATION .                          4.1    Committee Authority . The Plan shall be administered by the Committee
or the Board acting as the Committee. Subject to the general purposes, terms and conditions of the Plan, and to the direction of the Board, the Committee shall have full power to implement and carry out the Plan. The Committee shall have the
authority to:

	 	(a)	 	construe and interpret the Plan, any Award Agreement and any other agreement or document executed pursuant to the Plan;
	 	 	 
	 	(b)	 	prescribe, amend and rescind rules and regulations relating to the Plan;
	 	 	 
	 	(c)	 	select persons to receive Awards;
	 	 	 
	 	(d)	 	determine the form and terms of Awards;
	 	 	 
	 	(e)	 	determine the number of Shares or other consideration subject to Awards;
	 	 	 
	 	(f)	 	determine whether Awards will be granted singly, in combination, in tandem with, in replacement of, or as alternatives to, other Awards under the Plan or any other incentive or compensation plan of the Company or any
Parent, Subsidiary or Affiliate of the Company;
	 	 	 
	 	(g)	 	grant waivers of Plan or Award conditions;
	 	 	 
	 	(h)	 	determine the vesting, exercisability and payment of Awards;
	 	 	 
	 	(i)	 	correct any defect, supply any omission, or reconcile any inconsistency in the Plan, any Award or any Award Agreement;
	 	 	 
	 	(j)	 	determine whether an Award has been earned; and
	 	 	 
	 	(k)	 	make all other determinations necessary or advisable for the administration of the Plan.

                         4.2    Committee Discretion . Any determination made by the Committee with
respect to any Award shall be made in its sole discretion at the time of grant of the Award or, unless in contravention of any express term of the Plan or Award, at any later time, and such determination shall be final and binding on the Company and
all persons having an interest in any Award under the Plan. The Committee may delegate to one or more officers of the Company the authority to grant an Award under the Plan to Participants who are not Insiders of the Company.
                         4.3    Exchange Act Requirement . If the Company is subject
to the Exchange Act, the Company will take appropriate steps to comply with the disinterested director
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 requirements of Section 16(b) of the exchange Act, including but not limited to, the appointment by the Board of a Committee consisting of not less than two persons (who are members of
the Board), each of whom is a Disinterested Person.
              5.      OPTIONS .  The Committee may grant Options
to eligible persons and shall determine whether such Options shall be Incentive Stock Options within the meaning of the Code (“ ISOs ”) or Nonqualified Stock Options (“ NQSOs ”), the number of Shares subject to the
Option, the Exercise Price of the Option, the period during which the Option may be exercised, and all other terms and conditions of the Option, subject to the following:
                         5.1    Form of Option Grant . Each Option granted under the Plan shall be
evidenced by an Award Agreement which shall expressly identify the Option as an ISO or NQSO (“ Stock Option Agreement ”), and be in such form and contain such provisions (which need not be the same for each Participant) as the
Committee shall from time to time approve, and which shall comply with and be subject to the terms and conditions of the Plan,
                         5.2    Date of Grant . The date of grant of an Option shall be the date on
which the Committee makes the determination to grant such Option, unless otherwise specified by the Committee. The Stock Option Agreement and a copy of the Plan will be delivered to the Participant within a reasonable time after the granting of the
Option.
                         5.3    Exercise Period . Options
shall be exercisable within the times or upon the events determined by the Committee as set forth in the Stock Option Agreement;  provided ,  however , that no Option shall be exercisable after the expiration of ten (10) years from the
date the Option is granted, and provided further that no Option granted to a person who directly or by attribution owns more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or any Parent or Subsidiary
of the Company (“ Ten Percent Shareholder ”) shall be exercisable after the expiration of five (5) years from the date the Option is granted. The Committee also may provide for the exercise of Options to become exercisable at one
time or from time to time, periodically or otherwise, in such number or percentage as the Committee determines.
                         5.4    Exercise Price . The Exercise Price shall be determined by the
Committee when the Option is granted and may be not less than 85% of the Fair Market Value of the Shares on the date of grant; provided that (i) the Exercise Price of an ISO shall be not less than 100% of the Fair Market Value of the Shares on the
date of grant and (ii) the Exercise Price of any Option granted to a Ten Percent Shareholder shall not be less than l 10% of the Fair Market Value of the Shares on the date of grant. Payment for the Shares purchased may be made in accordance with
Section 8 of the Plan.
                         5.5    Method of Exercise
. Options may be exercised only by delivery to the Company of a written stock option exercise agreement (the “ Exercise Agreement ”) in a form approved by the Committee (which need not be the same for each Participant), stating
the number of Shares being purchased, the restrictions imposed on the Shares, if any, and such representations and agreements regarding Participant’s investment intent and access to
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 information and other matters, if any, as may be required or desirable by the Company to comply with applicable securities laws, together with payment in full of the Exercise Price for
the number of Shares being purchased.
                         5.6   
Termination . Notwithstanding the exercise periods set forth in the Stock Option Agreement, exercise of an Option shall always be subject to the following:

	 	(a)	 	It the Participant is Terminated for any reason except death or Disability, then Participant may exercise such Participant’s Options only to the extent that such Options would have been exercisable upon the
Termination Date no later than three (3) months after the Termination Date (or such shorter time period as may be specified in the Stock Option Agreement), but in any event, no later than the expiration date of the Options.
	 	 	 
	 	(b)	 	If the Participant is terminated because of death or Disability (or the participant dies within three months of such termination), then Participant’s Options may be exercised only to the extent that such Options
would have been exercisable by Participant on the Termination Date and must be exercised by Participant (or Participant’s legal representative or authorized assignee) no later than twelve (12) months after the Termination Date (or such shorter
time period as may be specified in the Stock Option Agreement), but in any event no later than the expiration date of the Options.

                         5.7    Limitations on Exercise . The Committee may specify a reasonable
minimum number of Shares that may be purchased on any exercise of an Option, provided that such minimum number will not prevent Participant from exercising the Option for the full number of Shares for which it is then exercisable.
                         5.8    Limitations on ISOs . The aggregate Fair Market
Value (determined as of the date of grant) of Shares with respect to which ISOs are exercisable for; the first time by a Participant during any calendar year (under the Plan or under any other incentive stock option plan of the Company or any
Affiliate, Parent or Subsidiary of the Company) shall not exceed $100,000. If the Fair Market Value of Shares on the date of grant with respect to which ISOs are exercisable for the first time by a Participant during any calendar year exceeds
$100,000, the Options for the first $100,000 worth of Shares to become exercisable in such calendar year shall be ISOs and the Options for the amount in excess of $100,000 that become exercisable in that calendar year sha11 be NQSOs. In the event
that the Code or the regulations promulgated thereunder are amended after the Effective Date of the Plan to provide for a different limit on the Fair Market Value of Shares permitted to be subject to ISOs, such different limit shall be automatically
incorporated herein and shall apply to any Options granted after the effective date of such amendment.
                         5.9    Modifications, Extension or Removal . The Committee may modify,
extend or renew outstanding Options and authorize the grant of new Options in substitution
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 therefor, provided that any such action may not, without the written consent of Participant, impair any of Participant’s rights under any Option previously granted. Any outstanding
ISO that is modified, extended, renewed or otherwise altered shall be treated in accordance with Section 424(h) of the Code. The Committee may reduce the Exercise Price of outstanding Options without the consent of Participants affected by a written
notice to them;  provided ,  however , that the Exercise Price may not be reduced below the minimum Exercise Price that would be permitted under Section 5.4 of the Plan for Options granted on the date the action is taken to reduce the
Exercise Price.
                         5.10    No Disqualification .
Notwithstanding any other provision in the Plan, no term of the Plan relating to ISOs shall be interpreted, amended or altered, nor shall any discretion or authority granted under the Plan be exercised, so as to disqualify the Plan under Section 422
of the Code or, without the consent of the Participant affected, to disqualify any ISO under Section 422 of the Code.
              6.
     RESTRICTED STOCK .  A Restricted Stock Award is an offer by the Company to sell to an eligible person Shares that are subject to restrictions. The Committee shall determine to whom an offer will be made, the
number of Shares the person may purchase, the price to be paid (the “ Purchase Price ”), the restrictions to which the Shares shall be subject, and all other terms and conditions of the Restricted Stock Award, subject to the
following:
                         6.1    Form of Restricted Stock Award
. All purchases under a Restricted Stock Award made pursuant to the Plan shall be evidenced by an Award Agreement (“ Restricted Stock Purchase Agreement ”) that shall be in such form (which need not be the same for each
Participant) as the Committee shall from time to time approve, and shall comply with and be subject to the terms and conditions of the Plan. The offer of Restricted Stock shall be accepted by the Participant’s execution and delivery of the
Restricted Stock Purchase Agreement and full payment for the Shares to the Company within thirty (30) days from the date the Restricted Stock Purchase Agreement is delivered to the person. If such person does not execute and deliver the Restricted
Stock Purchase Agreement along with full payment for the Shares to the Company within thirty (30) days, then the offer shall terminate, unless otherwise determined by the Committee.
                         6.2    Purchase Price . The Purchase Price of Shares sold pursuant to a
Restricted Stock Award shall be determined by the Committee and shall be at least 85% of the Fair Market Value of the Shares on the date the Restricted Stock Award is granted, except in the case of a sale to a Ten Percent Shareholder, in which case
the Purchase Price shall be 100% of the Fair Market Value. Payment of the Purchase Price may be made in accordance with Section 8 of the Plan.
                         6.3    Restrictions . Restricted Stock Awards shall be subject to
such restrictions as the Committee may impose. The Committee may provide for the lapse of such restrictions in installments and may accelerate or waive such restrictions, in whole or part, based on length of service, performance or such other
factors or criteria as the Committee may determine.
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              7.      STOCK BONUSES . 
                         7.1    Awards of Stock Bonuses . A Stock Bonus is an award of Shares (which
may consist of Restricted Stock) for services rendered to the Company, or any Parent, Subsidiary or Affiliate of the Company. A Stock Bonus may be awarded for past services already rendered to the Company, or any Parent, Subsidiary or Affiliate of
the Company pursuant to an Award Agreement (the “ Stock Bonus Agreement ”) that shall be in such form (which need not be the same for each Participant) as the Committee shall from time to time approve, and shall comply with and be
subject to the terms and conditions of the Plan. A Stock Bonus may be awarded upon satisfaction of such performance goals as are set out in advance in Participant’s individual Award Agreement (the “ Performance Stock Bonus Agreement
”) that shall be in such form (which need not be the same for each Participant) as the Committee shall from time to time approve, and shall comply with and be subject to the terms and conditions of the Plan. Stock Bonuses may vary from
Participant to Participant and between groups of Participants, and may be based upon the achievement of the Company, Parent, Subsidiary or Affiliate and/or individual performance factors or upon such other criteria as the Committee may
determine.
                         7.2    Terms of Stock Bonuses .
The Committee shall determine the number of Shares to be awarded to the Participant and whether such Shares shall be Restricted Stock. If the Stock Bonus is being earned upon the satisfaction of performance goals pursuant to a Performance Stock
Bonus Agreement, then the Committee shall determine; (a) the nature, length and starting date of any period during which performance is to be measured (the “ Performance Period ”) for each Stock Bonus; (b) the performance goals and
criteria to be used to measure the performance, if any; (c) the number of Shares that may be awarded to the Participant; and (d) the extent to which such Stock Bonuses have been earned. Performance Periods may overlap and Participants may
participate simultaneously with respect to Stock Bonuses that are subject to different Performance Periods and different performance goals and other criteria. The number of Shares may be fixed or may vary in accordance with such performance goals
and criteria as may be determined by the Committee. The Committee may adjust the performance goals applicable to the Stock Bonuses to take into account changes in law and accounting or tax rules and to make such adjustments as the Committee deems
necessary or appropriate to reflect the impact of extraordinary or unusual items, events or circumstances to avoid windfalls or hardships.
                         7.3    Form of Payment . The earned portion of a Stock Bonus may be paid
currently or on a deferred basis with such interest or dividend equivalent, if any, as the Committee may determine. Payment may be made in the form of cash, whole Shares, including Restricted Stock, or a combination thereof, either in a lump sum
payment or in installments, all as the Committee shall determine.
                         7.4    Termination During Performance Period . If a Participant is
Terminated during a Performance Period for any reason, then such Participant shall be entitled to payment (whether in Shares, cash or otherwise) with respect to the Stock Bonus only to the
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 extent earned as of the date of Termination in accordance with the Performance Stock Bonus Agreement, unless the Committee shall determine otherwise.
              8.      PAYMENT FOR SHARE PURCHASES . 
                         8.1    Payment . Payment for Shares purchased pursuant to the Plan may be
made in cash (by check) or, where expressly approved for the Participant by the Committee and where permitted by law:

	 	(a)	 	by cancellation of indebtedness of the Company to the Participant ; 
	 	 	 
	 	(b)	 	by surrender of Shares that either: (1) have been owned by Participant for more than six (6) months and have been paid for within the meaning of SEC Rule 144 (and, if such shares were purchased from the Company by use of
a promissory note; such note has been fully paid with respect to such Shares); or (2) were obtained by Participant in the public market;
	 	 	 
	 	(c)	 	by tender of a full recourse promissory note having such terms as may be approved by the Committee and bearing interest at a rate sufficient to avoid imputation of income under Sections 483 and 1274 of the Code; 
provided ,  however , that Participants who are not employees of the Company shall not be entitled to purchase Shares with a promissory note unless the note is adequately secured by collateral other than the Shares,  provided
,  further , that the portion of the Purchase Price equal to the par value oft the Shares, if any, must be paid in cash.
	 	 	 
	 	(d)	 	by waiver of compensation due or accrued to Participant far services rendered;
	 	 	 
	 	(e)	 	by tender of property;
	 	 	 
	 	(f)	 	with respect only to purchases upon exercise of an Option, and provided that a public market for the Company’s stock exists:

	 	(1)	 	through a “same day sale” commitment from Participant and a broker-dealer that is a member of the National Association of Securities Dealers (an “ NASD Dealer ”) whereby the Participant
irrevocably elects to exercise the Option and to sell a portion of the Shares so purchased to pay for the Exercise Price, and whereby the NASD Dealer irrevocably commits upon receipt of such Shares to forward the exercise Price directly to the
Company; or
	 	 	 
	 	(2)	 	through a “margin” commitment from Participant and an NASD Dealer whereby Participant irrevocably elects to exercise the Option and to pledge the Shares so purchased to the NASD Dealer in
a

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	 		 	margin account as security for a loan from the NASD Dealer in the amount of the Exercise Price, and whereby the NASD Dealer irrevocably commits upon receipt of such Shares to forward the exercise price directly to the
Company;

	 	or	 	
	 	 	 
	 	(g)	 	by any combination of the foregoing,

                         8.2    Loan Guarantees . The Committee may help the Participant pay
for Shares purchased under the Plan by authorizing a guarantee by the Company of a third-party loan to the Participant.
              9.
     WITHOLDING TAXES . 
                         9.1    Withholding Generally . Whenever Shares are to be issued in
satisfaction of Awards granted under the Plan, the Company may require the Participant to remit to the Company an amount sufficient to satisfy federal, state and local withholding tax requirements prior to the delivery of any certificate or
certificates for such Shares. Whenever, under the Plan, payments in satisfaction of Awards are to be made in cash, such payment shall be net of an amount sufficient to satisfy federal, state, and local withholding tax requirements.
                         9.2    Stock Withholding . When, under applicable
tax laws, a Participant incurs tax liability in connection with the exercise or vesting of any Award that is subject to tax withholding and the Participant is obligated to pay the Company the amount required to be withheld, the Committee may allow
the Participant to satisfy the minimum withholding tax obligation by electing to have   the Company withhold from the Shares to be issued that number of Shares having a Fair Market Value equal to the minimum amount required to be
withheld, determined on the date that the amount of tax to be withheld is to be determined (the “ Tax Date ”). All elections by a Participant to have Shares withheld for this purpose shall be made in writing in a form acceptable to
the Committee and shall be subject to the following restrictions:

	 	(a)	 	the election must be made on or prior to the applicable Tax Date;
	 	 	 
	 	(b)	 	once made, then except as provided below, the election shall be irrevocable as to the particular Shares as to which the election is made;
	 	 	 
	 	(c)	 	all elections shall be subject to the consent or disapproval of the Committee;
	 	 	 
	 	(d)	 	if the Participant is an Insider and if the Company is subject to Section 16(b) of the Exchange Act: (1) the election may not be made within six (6) months of the date of grant of the Award, except as otherwise permitted
by SEC Rule 16b-3(e) under the Exchange Act, and (2) either (A) the election to use stock withholding must be irrevocably made at least six (6) months prior to the Tax Date (although such election may be revoked at any time
at

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	 		 	least six (6) months prior to the Tax Date) or (B) the exercise of the Option or election to use stock, withholding must be made in the ten (10) day period beginning on the third day following the release of the
Company’s quarterly or annual summary statement of sales or earnings; and

	 	(e)	 	in the event that the Tax Date is deferred until six (6) months after the delivery of Shares under Section 83(b) of the Code, the Participant shall receive the full number of Shares with respect to which the exercise
occurs, but such Participant shall be unconditionally obligated to tender back to the Company the proper number of Shares on the Tax Date.

              10.      PRIVILEGES OF STOCK OWNERSHIP . 
                         10.1    Voting and Dividends . No Participant shall have any of the rights
of a shareholder with respect to any Shares until the Shares are issued to the Participant. After Shares are issued to the Participant, the Participant shall be a shareholder and have all the rights of a shareholder with respect to such Shares,
including the right to vote and receive all dividends or other distributions made or paid with respect to such Shares;  provided , that if such Shares are Restricted Stock, then any new, additional or different securities the Participant may
become entitled to receive with respect to such Shares by virtue of a stock dividend, stock split or any other change in the corporate or capital structure of the Company shall be subject to the same restrictions as the Restricted Stock; 
provided ,  further , that the Participant shall have no right to retain such stock dividends or stock distributions with respect to Shares that are repurchased at the Participant’s original Purchase Price pursuant to Section
12.
                         10.2    Financial Statements . The
Company shall provide financial statements to each Participant prior to such Participant’s purchase of Shares under the Plan, and to each Participant annually during the period such Participant has Awards outstanding;  provided , 
however , the Company shall not be required to provide such financial statements to Participants whose services in connection with the Company assure them access to equivalent information.
              11.      TRANSFERABILITY .  Awards granted under the Plan, and any interest therein, shall not be transferable or assignable by
Participant, and may not be made subject to execution, attachment or similar process, otherwise than by will or by the laws of descent and distribution or as consistent with the specific Plan and Award Agreement provisions relating thereto. During
the lifetime of the Participant an Award shall be exercisable only by the Participant, and any elections with respect to an Award, may be made only by the Participant.
              12.      RESTRICTIONS ON SHARES .  At the discretion of the Committee, the Company may reserve to itself and/or its assignee(s) in
the Award Agreement (a) a right of first refusal to purchase all Shares that a Participant (or a subsequent transferee) may propose to transfer to a third party, and/or (b) a right to repurchase a portion of or all Shares held by a Participant
following such Participant’s Termination at any time within ninety (90) days after the later of Participant’s Termination Date and the date Participant purchases Shares under the Plan,
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 for cash or cancellation of purchase money indebtedness, at: (A) with respect to Shares that are “Vested” (as defined in the Award Agreement), the higher of: (1)
Participant’s original Purchase Price, or (2) the Fair Market Value of such Shares on Participant’s Termination Date,  provided  , that such right of repurchase (i) must be exercised as to all such “Vested” Shares unless a
Participant consents to the Company’s repurchase of only a portion of such “Vested” Shares and (ii) terminates when the Company’s securities become publicly traded; or (B) with respect to Shares that are not “Vested”
(as defined in the Award Agreement), at the Participant’s original Purchase Price,  provided,  that the right to repurchase at the original Purchase Price lapses at the rate of at least 20% per year over 5 years from the date the
Shares were purchased (or from the date of grant of options in the case of Shares obtained pursuant to a Stock Option Agreement and Stock Option Exercise Agreement), and if the right to repurchase is assignable, the assignee must pay the Company,
upon assignment of the right to repurchase, cash equal to the excess of the Fair Market Value of the Shares over the original Purchase Price.
              13.      CERTIFICATE .  All certificates for Shares or other securities delivered under the Plan shall be subject to such stock
transfer orders, legends and other restrictions as the Committee may deem necessary or advisable, including restrictions under any applicable federal, state or foreign securities law, or any rules, regulations and other requirements of the SEC or
any stock exchange or automated quotation system upon which the Shares may be listed.
              14.      ESCROW; PLEDGE
OF SHARES .  To enforce any restrictions on a Participant’s Shares, the Committee may require the Participant to deposit all certificates representing Shares, together with stock powers or other instruments of transfer approved by the
Committee, appropriately endorsed in blank, with the Company or an agent designated by the Company to hold in escrow until such restrictions have lapsed or terminated, and the Committee may cause a legend or legends referencing such restrictions to
be placed on the certificates. Any Participant who is permitted to execute a promissory note as partial or full consideration for the purchase of Shares under the Plan shall be required to pledge and deposit with the Company all or part of the
Shares so purchased as collateral to secure the payment of Participant’s obligation to the Company under the promissory note;  provided ,  however , that the Committee may require or accept other or additional forms of collateral
to secure the payment of such obligation and, in any event, the Company shall have full recourse against the Participant under the promissory note notwithstanding any pledge of the Participant’s Shares or other collateral. In connection with
any pledge of the Shares, Participant shall be required to execute and deliver a written pledge agreement in such form as the Committee shall from time to time approve. The Shares purchased with the promissory note may be released from the pledge on
a prorata basis as the promissory note is paid.
              15.      EXCHANGE AND BUYOUT OF AWARDS .  The
Committee may, at any time or from time to time, authorize the Company, with the consent of the respective Participants, to issue new Awards in exchange for the surrender and cancellation of any or all outstanding Awards. The Committee may at any
time buy from a Participant an Award previously granted with payment in cash, Shares (including Restricted Stock) or other consideration, based on such terms and conditions as the Committee and the Participant shall agree.
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              16.      SECURITIES LAW AND OTHER REGULATORY COMPLIANCE .  An Award shall not
be effective unless such Award is in compliance with all applicable federal and state securities laws, rules and regulations of any governmental body, and the requirements of any stock exchange or automated quotation system upon which the Shares may
then be listed, as they are in effect on the date of grant of the Award and also on the date of exercise or other issuance. Notwithstanding any other provision in the Plan, the Company shall have no obligation to issue or deliver certificates for
Shares under the Plan prior to (a) obtaining any approvals from governmental agencies that the Company determines are necessary or advisable, and/or (b) completion of any registration or other qualification of such shares under any state or federal
law or ruling of any governmental body that the Company determines to be necessary or advisable. The Company shall be under no obligation to register the Shares with the SEC or to effect compliance with the registration, qualification or listing
requirements of any state securities laws, stock exchange or automated quotation system, and the Company shall have no liability for any inability or failure to do so.
              17.      NO OBLIGATION TO EMPLOY .  Nothing in the Plan or any Award granted under the Plan shall confer or be deemed to confer on
any Participant any right to continue in the employ of, or to continue any other relationship with, the Company or any Parent, Subsidiary or Affiliate of the Company or limit in any way the right of the Company or any Parent, Subsidiary or Affiliate
of the Company to terminate Participant’s employment or other relationship at any time, with or without cause.
              18.
     CORPORATE TRANSACTIONS . 
                         18.1    Assumption or Replacement of Awards by Successor . In the event of
(a) a merger or consolidation in which the Company is not the surviving corporation (other than a merger or consolidation with a wholly-owned subsidiary, a reincorporation of the Company in a different jurisdiction, or other transaction in which
there is no substantial change in the shareholders of the Company and the Awards granted under the Plan are assumed or replaced by the successor corporation, which assumption shall be binding on all Participants), (b) a dissolution or liquidation of
the Company, (c) the sale of substantially all of the assets of the Company, or (d) any other transaction which qualifies as a “corporate transaction” under Section 424(a) of the Code wherein the shareholders of the Company give up all of
their equity interest in the Company ( except  for the acquisition, sale or transfer of all or substantially all of the outstanding shares of the Company), any or all outstanding Awards may be assumed or replaced by the successor corporation
(if any), which assumption or replacement shall be binding on all Participants. In the alternative, the successor corporation may substitute equivalent Awards or provide substantially similar consideration to Participants as was provided to
shareholders (after taking into account the existing provisions of the Awards). The successor corporation may also issue, in place of outstanding Shares of the Company held by the Participant, substantially similar shares or other property subject
to repurchase restrictions no less favorable to the Participant.
                         In
the event such successor corporation (if any) refuses to assume or substitute Options, as provided above, pursuant to a transaction described in this Subsection 18.1,
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 such Options shall expire on such transaction at such time and on such conditions as the Board shall determine.
                         18.2    Other Treatment of Awards . Subject to any greater rights granted to
Participants under the foregoing provisions of this Section 18, in the event of the occurrence of any transaction described in Section 18.1, any outstanding Awards shall be treated as provided in the applicable agreement or plan of merger,
consolidation, dissolution, liquidation, sale of assets or other “corporate transaction.”
                         18.3    Assumption of Awards by the Company . The Company, from time to
time, also may substitute or assume outstanding awards granted by another company, whether in connection with an acquisition of such other company or otherwise, by either (a) granting an Award under the Plan in substitution of such other
company’s award, or (b) assuming such award as if it had been granted under the Plan if the terms of such assumed award could be applied to an Award granted under the Plan. Such substitution or assumption shall be permissible if the holder of
the substituted or assumed award would have been eligible to be granted an Award under the Plan if the other company had applied the rules of the Plan to such grant. In the event the Company assumes an award granted by another company, the terms and
conditions of such award shall remain unchanged ( except  that the exercise price and the number and nature of Shares issuable upon exercise of any such option will be adjusted appropriately pursuant to Section 424(a) of the Code). In the
event the Company elects to grant a new Option rather than assuming an existing option, such new Option may be granted with a similarly adjusted Exercise Price.
              19.      ADOPTION AND SHAREHOLDER APPROVAL .  The Plan shall become effective on the date that it is adopted by the Board (the
“ Effective Date ”). The Plan shall be approved by the shareholders of the Company (excluding Shares issued pursuant to this Plan), consistent with applicable laws, within twelve months before or after the Effective Date. Upon the
Effective Date, the Board may grant Awards pursuant to the Plan;  provided ,  however , that: (a) no Option may be exercised prior to initial shareholder approval of the Plan; (b) no Option granted pursuant to an increase in the number
of Shares approved by the Board shall be exercised prior to the time such increase has been approved by the shareholders of the Company; and (c) in the event that shareholder approval is not obtained within the time period provided herein, all
Awards granted hereunder shall be cancelled, any Shares issued pursuant to any Award shall be cancelled and any purchase of Shares hereunder shall be rescinded. After the Company becomes subject to Section 16(b) of the Exchange Act, the Company will
comply with the requirements of Rule 16b-3 (or its successor), as amended, with respect to shareholder approval.
              20.
     TERM OF PLAN .  The Plan will terminate ten (10) years from the Effective Date or, if earlier, the date of shareholder approval.
              21.      AMENDMENT OR TERMINATION OF PLAN .  The Board may at any time terminate or amend the Plan in any respect, including without
limitation amendment of any form of Award Agreement or instrument to be executed pursuant to the Plan;  provided   however ,
 - 12 -

 
 that the Board shall not, without the approval of the shareholders of the Company, amend the Plan in any manner that requires such shareholder approval pursuant to the Code or the
regulations promulgated thereunder as such provisions apply to ISO plans or pursuant to the Exchange Act or Rule 16b-3 (or its successor), as amended, thereunder.
              22.      NONEXCLUSIVITY OF THE PLAN .  Neither the adoption of the Plan by the Board, the submission of the Plan to the shareholders
of the Company for approval, nor any provision of the Plan shall be construed as creating any limitations on the power of the Board to adopt such additional compensation arrangements as it may deem desirable, including, without limitation, the
granting of stock options and bonuses otherwise than under the Plan, and such arrangements may be either generally applicable or applicable only in specific cases.
              23.      DEFINITIONS .  As used in the Plan, the following term shall have the following meanings:
                         “ Affiliate ” means any corporation that directly, or indirectly through one or
more intermediaries, controls or is controlled by, or is under common control with, another corporation, where “control” (including the terms “controlled by” and “under common control with”) means the possession, direct
or indirect, of the power to cause the direction of the management and policies of the corporation, whether through the ownership of voting securities, by contract or otherwise.
                         “ Award ” means any award under the Plan, including any Option, Restricted Stock
or Stock Bonus.
                         “ Award Agreement ” means, with
respect to each Award, the signed written agreement between the Company and the Participant setting forth the terms and conditions of the Award.
                         “ Board ” means the Board of Directors of the Company.
                         “ Code ” means the Internal Revenue Code of 1986, as amended.

                         “ Committee ” means the committee appointed by
the Board to administer the Plan, or if no committee is appointed, the Board.
                         “ Company ” means Elantec, Inc., a corporation organized under the laws of the
State of California, or any successor corporation.
                         “
Disability ” means a disability, whether temporary or permanent, partial or total, within the meaning of Section 22(e)(3) of the Code, as determined by the Committee. 
                         “ Disinterested Person ” means a director who has not, during the period that
person is a member of the Committee and for one year prior to service as a member of the Committee, been granted or awarded equity securities pursuant to the Plan or any other plan of
 - 13 -

 
 the Company or any Parent, Subsidiary or Affiliate of the Company, except in accordance with the requirements set forth in Rule 16b-3(c)(2)(i) (and any successor regulation thereto) as
promulgated by the SEC under Section 16(b) of the Exchange Act, as such rule is amended from time to time and as interpreted by the SEC.
                         “ Exchange Act ” means the Securities Exchange Act of 1934, as
amended.
                         “ Exercise Price ” means
the price at which a holder of an Option may purchase the Shares issuable upon exercise of the Option.
                         “ Fair Market Value ” means, as of any date, the value of a share of the
Company’s Common Stock determined as follows:

	 	(a)	 	if such Common Stock is then quoted on the Nasdaq National Market, its last reported sale price on the Nasdaq National Market or, if no such reported sale takes place on such date, the average of the closing bid and asked
prices;
	 	 	 
	 	(b)	 	if such Common Stock is publicly traded and is then listed on a national securities exchange, the last reported sale price or, if no such reported sale takes place on such date, the average of the closing bid and asked
prices on the principal national securities exchange on which the Common Stock is listed or admitted to trading;
	 	 	 
	 	(c)	 	if such Common Stock is publicly traded but is not quoted on the Nasdaq National Market nor listed or admitted to trading on a national securities exchange, the average of the closing bid and asked prices on such date, as
reported by The Wall Street Journal, for the over-the-counter market; or 
	 	 	 
	 	(d)	 	if none of the foregoing is applicable, by the Board of Directors of the Company in good faith.

                         “ Insider ” means an officer or director of the Company or any other person whose
transactions in the Company’s Common Stock are subject to Section 16 of the Exchange Act.
                         “ Option ” means an award of an option to purchase Shares pursuant to Section
5.
                         “ Parent ” means any corporation (other than
the Company) in an unbroken chain of corporations ending with the Company, if at the time of the granting of an Award under the Plan, each of such corporations other than the Company owns stock possessing 50% or more of the total combined voting
power of all classes of stock in one of the other corporations in such chain.
 - 14 -

 
                         “ Participant ” means a
person who receives an Award under the Plan.
                         “ Plan
” means this Elantec, Inc. 1994 Equity Incentive Plan, as amended from time to time.
                         “ Restricted Stock Award ” means an award of Shares pursuant to Section
6.
                         “ SEC ” means the Securities and Exchange
Commission.
                         “ Securities Act ” means the
Securities Act of 1933, as amended.
                         “ Shares ”
means shares of the Company’s Common Stock reserved for issuance under the Plan, as adjusted pursuant to Sections 2 and 15, and any successor security.
                         “ Stock Bonus ” means an award of Shares, or cash in lieu of Shares, pursuant to
Section 7.
                         “ Subsidiary ” means any corporation
(other than the Company) in an unbroken chain of corporations beginning with the Company if, at the time of granting of the Award, each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50% or more of
the total combined voting power of all classes of stock in one of the other corporations in such chain.
                         “ Termination ” or “ Terminated ” means, for purposes of the
Plan with respect to a Participant, that the Participant has ceased to provide services as an employee, director, consultant, independent contractor or adviser, to the Company or a Parent, Subsidiary or Affiliate of the Company, except in the case
of sick leave, military leave, or any other leave of absence approved by the Committee,  provided , that such leave is for a period of not more than ninety (90) days, or reinstatement upon the expiration of such leave is guaranteed by
contract or statute. The Committee shall have sole discretion to determine whether a Participant has ceased to provide services and the effective date on which the Participant ceased to provide services (the “ Termination Date
”).
 - 15 -Prepared by R.R. Donnelley Financial -- 1995 Equtiy Incentive Plan

  Exhibit 10.15 
  ELANTEC SEMICONDUCTOR, INC. 
  1995 EQUITY INCENTIVE PLAN 
  AS ADOPTED AUGUST 23, 1995 AND AMENDED 
 THROUGH JANUARY 15, 2001 
              1.
    PURPOSE.  The purpose of this Plan is to provide incentives to attract, retain and motivate eligible persons whose present and potential contributions are important to the success of the Company, its Parent,
Subsidiaries and Affiliates, by offering them an opportunity to participate in the Company’s future performance through awards of Options, Restricted Stock and Stock Bonuses. Capitalized terms not defined in the text are defined in Section 23.

              2.     SHARES SUBJECT TO THIS PLAN. 
                         2.1   NUMBER OF SHARES AVAILABLE. Subject to Sections 2.2 and 18, the total number
of Shares reserved and available for grant and issuance pursuant to this Plan will be 6,853,500 Shares plus any Shares that are made available for grant and issuance under this Plan pursuant to the following sentence. Any shares remaining unissued
and not subject to outstanding options or other awards under the 1994 Equity Incentive Plan (the “PRIOR PLAN”) adopted by Elantec, Inc., a California corporation, that is the Company’s predecessor (“ELANTEC CALIFORNIA”) on
the Effective Date (as defined below) and any shares issuable upon exercise of options granted pursuant to the Prior Plan that expire or become unexercisable for any reason without having been exercised in full, will no longer be available for grant
and issuance under the Prior Plan, but will also be available for grant and issuance under this Plan. Subject to Sections 2.2 and 18, Shares that: (a) are subject to issuance upon exercise of an Option but cease to be subject to such Option for any
reason other than exercise of such Option; (b) are subject to an Award granted hereunder but are forfeited or are repurchased by the Company at the original issue price; or (c) are subject to an Award that otherwise terminates without Shares being
issued; will again be available for grant and issuance in connection with future Awards under this Plan. At all times the Company shall reserve and keep available a sufficient number of Shares as shall be required to satisfy the requirements of all
outstanding Options granted under this Plan and all other outstanding but unvested Awards granted under this Plan.
                         2.2   ADJUSTMENT OF SHARES. In the event that the number of outstanding Shares is
changed by a stock dividend, recapitalization, stock split, reverse stock split, subdivision, combination, reclassification or similar change in the capital structure of the Company without consideration, then (a) the number of Shares reserved for
issuance under this Plan, (b) the Exercise Prices of and number of Shares subject to outstanding Options, and (c) the number of Shares subject to other outstanding Awards will be proportionately adjusted, subject to any required action by the Board
or the stockholders of the Company and compliance with applicable securities laws; PROVIDED, HOWEVER, that fractions of a Share will not be issued but will either be replaced by a cash payment equal to the Fair Market Value of such fraction of a
Share or will be rounded up to the nearest whole Share, as determined by the Committee; and PROVIDED, FURTHER, that the Exercise Price of any Option may not be decreased to below the par value of the Shares.
              3.     ELIGIBILITY.  ISOs (as defined in Section 5 below) may be granted only to employees (including officers and directors who are also
employees) of the Company or of a Parent or Subsidiary of the Company. All other Awards may be granted to employees, officers, directors, consultants, independent contractors and advisors of the Company or any Parent, Subsidiary or Affiliate of the
Company; PROVIDED such consultants, contractors and advisors render bona fide services not in connection with the offer and sale of securities in a capital-raising transaction. No person will be eligible to receive more than 200,000 shares in any
calendar year under this Plan pursuant to the grant of Awards hereunder, other than new employees of the Company or of a Parent, Subsidiary or Affiliate of the Company (including new employees who are also officers and directors of the Company or
any Parent, Subsidiary or Affiliate of the Company) who are eligible to receive up to a maximum of 800,000 shares in the calendar year in which they commence their employment. A person may be granted more than one Award under this Plan. 

 
              4.     ADMINISTRATION. 
                         4.1   COMMITTEE AUTHORITY. This Plan will be administered by the Committee or by
the Board acting as the Committee. Subject to the general purposes, terms and conditions of this Plan, and to the direction of the Board, the Committee will have full power to implement and carry out this Plan. Without limitation, the Committee will
have the authority to:

	 	(a)	 	construe and interpret this Plan, any Award Agreement and any other agreement or document executed pursuant to this Plan; 
	 	 	 
	 	(b)	 	prescribe, amend and rescind rules and regulations relating to this Plan;
	 	 	 
	 	(c)	 	select persons to receive Awards;
	 	 	 
	 	(d)	 	determine the form and terms of Awards;
	 	 	 
	 	(e)	 	determine the number of Shares or other consideration subject to Awards;
	 	 	 
	 	(f)	 	determine whether Awards will be granted singly, in combination with, in tandem with, in replacement of, or as alternatives to, other Awards under this Plan or any other incentive or compensation plan of the Company or
any Parent, Subsidiary or Affiliate of the Company;
	 	 	 
	 	(g)	 	grant waivers of Plan or Award conditions;
	 	 	 
	 	(h)	 	determine the vesting, exercisability and payment of Awards; 
	 	 	 
	 	(i)	 	correct any defect, supply any omission, or reconcile any inconsistency in this Plan, any Award or any Award Agreement; 
	 	 	 
	 	(j)	 	determine whether an Award has been earned; and 
	 	 	 
	 	(k)	 	make all other determinations necessary or advisable for the administration of this Plan.

                         4.2   COMMITTEE DISCRETION. Any determination made by the Committee with respect to
any Award will be made in its sole discretion at the time of grant of the Award or, unless in contravention of any express term of this Plan or Award, at any later time, and such determination will be final and binding on the Company and on all
persons having an interest in any Award under this Plan. The Committee may delegate to one or more officers of the Company the authority to grant an Award under this Plan to Participants who are not Insiders of the Company.
                         4.3   EXCHANGE ACT REQUIREMENTS. If two or more members of the
Board are Outside Directors, the Committee will be comprised of at least two (2) members of the Board, all of whom are Outside Directors and Disinterested Persons. During all times that the Company is subject to Section 16 of the Exchange Act, the
Company will take appropriate steps to comply with the disinterested administration requirements of Section 16(b) of the Exchange Act, which will consist of the appointment by the Board of a Committee consisting of not less than two (2) members of
the Board, each of whom is a Disinterested Person.
              5.     OPTIONS.  The Committee may grant Options to
eligible persons and will determine whether such Options will be Incentive Stock Options within the meaning of the Code (“ISOS”) or Nonqualified Stock Options (“NQSOs”), the number of Shares subject to the Option, the Exercise
Price of the Option, the period during which the Option may be exercised, and all other terms and conditions of the Option, subject to the following:
                         5.1   FORM OF OPTION GRANT. Each Option granted under this Plan will be evidenced
by an Award Agreement which will expressly identify the Option as an ISO or an NQSO (“STOCK OPTION AGREEMENT”), 

 
 and will be in such form and contain such provisions (which need not be the same for each Participant) as the Committee may from time to time approve, and which will comply with and be
subject to the terms and conditions of this Plan. 
                         5.2   DATE OF GRANT. The date of grant of an Option will be the date on which the
Committee makes the determination to grant such Option, unless otherwise specified by the Committee. The Stock Option Agreement and a copy of this Plan will be delivered to the Participant within a reasonable time after the granting of the
Option.
                         5.3   EXERCISE PERIOD. Options will be
exercisable within the times or upon the events determined by the Committee as set forth in the Stock Option Agreement governing such Option; PROVIDED, HOWEVER, that no Option will be exercisable after the expiration of ten (10) years from the date
the Option is granted; and PROVIDED, FURTHER, that no ISO granted to a person who directly or by attribution owns more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or of any Parent or Subsidiary of
the Company (“TEN PERCENT STOCKHOLDER”) will be exercisable after the expiration of five (5) years from the date the ISO is granted. The Committee also may provide for the exercise of Options to become exercisable at one time or from time
to time, periodically or otherwise, in such number of Shares or percentage of Shares as the Committee determines.
                         5.4   EXERCISE PRICE. The Exercise Price of an Option will be determined by the
Committee when the Option is granted and may be not less than 85% of the Fair Market Value of the Shares on the date of grant; PROVIDED that: (i) the Exercise Price of an ISO will be not less than 100% of the Fair Market Value of the Shares on the
date of grant; and (ii) the Exercise Price of any ISO granted to a Ten Percent Stockholder will not be less than 110% of the Fair Market Value of the Shares on the date of grant. Payment for the Shares purchased may be made in accordance with
Section 8 of this Plan.
                         5.5   METHOD OF EXERCISE.
Options may be exercised only by delivery to the Company of a written stock option exercise agreement (the “EXERCISE AGREEMENT”) in a form approved by the Committee (which need not be the same for each Participant), stating the number of
Shares being purchased, the restrictions imposed on the Shares purchased under such Exercise Agreement, if any, and such representations and agreements regarding Participant’s investment intent and access to information and other matters, if
any, as may be required or desirable by the Company to comply with applicable securities laws, together with payment in full of the Exercise Price for the number of Shares being purchased. 
                         5.6   TERMINATION. Notwithstanding the exercise periods set forth in the Stock
Option Agreement, exercise of an Option will always be subject to the following:

	 	(a)	 	If the Participant is Terminated for any reason except death or Disability, then the Participant may exercise such Participant’s Options only to the extent that such Options would have been exercisable upon the
Termination Date no later than three (3) months after the Termination Date (or such shorter or longer time period not exceeding five (5) years as may be determined by the Committee, with any exercise beyond three (3) months after the Termination
Date deemed to be an NQSO), but in any event, no later than the expiration date of the Options. 
	 	 	 
	 	(b)	 	If the Participant is Terminated because of the Participant’s death or Disability (or the Participant dies within three (3) months after a Termination other than because of Participant’s death or disability),
then Participant’s Options may be exercised only to the extent that such Options would have been exercisable by Participant on the Termination Date and must be exercised by Participant (or Participant’s legal representative or authorized
assignee) no later than twelve (12) months after the Termination Date (or such shorter or longer time period not exceeding five (5) years as may be determined by the Committee, with any such exercise beyond (a) three (3) months after the Termination
Date when the Termination is for any reason other than the Participant’s death or Disability, or 

 

	 	 	 	(b) twelve (12) months after the Termination Date when the Termination is for Participant’s death or Disability, deemed to be an NQSO), but in any event no later than the expiration date of the
Options.

                         5.7   LIMITATIONS ON EXERCISE. The
Committee may specify a reasonable minimum number of Shares that may be purchased on any exercise of an Option, PROVIDED that such minimum number will not prevent Participant from exercising the Option for the full number of Shares for which it is
then exercisable. 
                         5.8   LIMITATIONS ON ISOS. The
aggregate Fair Market Value (determined as of the date of grant) of Shares with respect to which ISOs are exercisable for the first time by a Participant during any calendar year (under this Plan or under any other incentive stock option plan of the
Company or any Affiliate, Parent or Subsidiary of the Company) will not exceed $100,000. If the Fair Market Value of Shares on the date of grant with respect to which ISOs are exercisable for the first time by a Participant during any calendar year
exceeds $100,000, then the Options for the first $100,000 worth of Shares to become exercisable in such calendar year will be ISOs and the Options for the amount in excess of $100,000 that become exercisable in that calendar year will be NQSOs. In
the event that the Code or the regulations promulgated thereunder are amended after the Effective Date of this Plan to provide for a different limit on the Fair Market Value of Shares permitted to be subject to ISOs, such different limit will be
automatically incorporated herein and will apply to any Options granted after the effective date of such amendment.
                         5.9   MODIFICATION, EXTENSION OR RENEWAL. The Committee may modify, extend or renew
outstanding Options and authorize the grant of new Options in substitution therefor, PROVIDED that any such action may not, without the written consent of a Participant, impair any of such Participant’s rights under any Option previously
granted. Any outstanding ISO that is modified, extended, renewed or otherwise altered will be treated in accordance with Section 424(h) of the Code. The Committee may reduce the Exercise Price of outstanding Options without the consent of
Participants affected by a written notice to them; PROVIDED, HOWEVER, that the Exercise Price may not be reduced below the minimum Exercise Price that would be permitted under Section 5.4 of this Plan for Options granted on the date the action is
taken to reduce the Exercise Price; and PROVIDED, FURTHER, that the Exercise Price will not be reduced below the par value of the Shares.
                         5.10   NO DISQUALIFICATION. Notwithstanding any other provision in this Plan, no
term of this Plan relating to ISOs will be interpreted, amended or altered, nor will any discretion or authority granted under this Plan be exercised, so as to disqualify this Plan under Section 422 of the Code or, without the consent of the
Participant affected, to disqualify any ISO under Section 422 of the Code.
              6.     RESTRICTED STOCK.  A
Restricted Stock Award is an offer by the Company to sell to an eligible person Shares that are subject to restrictions. The Committee will determine to whom an offer will be made, the number of Shares the person may purchase, the price to be paid
(the “PURCHASE PRICE”), the restrictions to which the Shares will be subject, and all other terms and conditions of the Restricted Stock Award, subject to the following: 
                         6.1   FORM OF RESTRICTED STOCK AWARD. All purchases under a Restricted Stock Award
made pursuant to this Plan will be evidenced by an Award Agreement (“RESTRICTED STOCK PURCHASE AGREEMENT”) that will be in such form (which need not be the same for each Participant) as the Committee will from time to time approve, and
will comply with and be subject to the terms and conditions of this Plan. The offer of Restricted Stock will be accepted by the Participant’s execution and delivery of the Restricted Stock Purchase Agreement and full payment for the Shares to
the Company within thirty (30) days from the date the Restricted Stock Purchase Agreement is delivered to the person. If such person does not execute and deliver the Restricted Stock Purchase Agreement along with full payment for the Shares to the
Company within thirty (30) days, then the offer will terminate, unless otherwise determined by the Committee. 
                         6.2   PURCHASE PRICE. The Purchase Price of Shares sold pursuant to a Restricted
Stock Award will be determined by the Committee and will be at least 85% of the Fair Market Value of the Shares on the date the Restricted Stock Award is granted, except in the case of a sale to a Ten Percent Stockholder, in which case 

 
 the Purchase Price will be 100% of the Fair Market Value. Payment of the Purchase Price may be made in accordance with Section 8 of this Plan. 
                            6.3   RESTRICTIONS. Restricted Stock Awards will be subject to such restrictions
(if any) as the Committee may impose. The Committee may provide for the lapse of such restrictions in installments and may accelerate or waive such restrictions, in whole or part, based on length of service, performance or such other factors or
criteria as the Committee may determine.
              7.     STOCK BONUSES. 
                         7.1   AWARDS OF STOCK BONUSES. A Stock Bonus is an award of Shares (which may
consist of Restricted Stock) for services rendered to the Company or any Parent, Subsidiary or Affiliate of the Company. A Stock Bonus may be awarded for past services already rendered to the Company, or any Parent, Subsidiary or Affiliate of the
Company (provided that the Participant pays the Company the par value of the Shares awarded by such Stock Bonus in cash) pursuant to an Award Agreement (the “STOCK BONUS AGREEMENT”) that will be in such form (which need not be the same for
each Participant) as the Committee will from time to time approve, and will comply with and be subject to the terms and conditions of this Plan. A Stock Bonus may be awarded upon satisfaction of such performance goals as are set out in advance in
the Participant’s individual Award Agreement (the “PERFORMANCE STOCK BONUS AGREEMENT”) that will be in such form (which need not be the same for each Participant) as the Committee will from time to time approve, and will comply with
and be subject to the terms and conditions of this Plan. Stock Bonuses may vary from Participant to Participant and between groups of Participants, and may be based upon the achievement of the Company, Parent, Subsidiary or Affiliate and/or
individual performance factors or upon such other criteria as the Committee may determine.
                         7.2   TERMS OF STOCK BONUSES. The Committee will determine the number of Shares to
be awarded to the Participant and whether such Shares will be Restricted Stock. If the Stock Bonus is being earned upon the satisfaction of performance goals pursuant to a Performance Stock Bonus Agreement, then the Committee will determine: (a) the
nature, length and starting date of any period during which performance is to be measured (the “PERFORMANCE PERIOD”) for each Stock Bonus; (b) the performance goals and criteria to be used to measure the performance, if any; (c) the number
of Shares that may be awarded to the Participant; and (d) the extent to which such Stock Bonuses have been earned. Performance Periods may overlap and Participants may participate simultaneously with respect to Stock Bonuses that are subject to
different Performance Periods and different performance goals and other criteria. The number of Shares may be fixed or may vary in accordance with such performance goals and criteria as may be determined by the Committee. The Committee may adjust
the performance goals applicable to the Stock Bonuses to take into account changes in law and accounting or tax rules and to make such adjustments as the Committee deems necessary or appropriate to reflect the impact of extraordinary or unusual
items, events or circumstances to avoid windfalls or hardships. 
                         7.3   FORM OF PAYMENT. The earned portion of a Stock Bonus may be paid currently or
on a deferred basis with such interest or dividend equivalent, if any, as the Committee may determine. Payment may be made in the form of cash, whole Shares, including Restricted Stock, or a combination thereof, either in a lump sum payment or in
installments, all as the Committee will determine. 
                         7.4   TERMINATION DURING PERFORMANCE PERIOD. If a Participant is Terminated during
a Performance Period for any reason, then such Participant will be entitled to payment (whether in Shares, cash or otherwise) with respect to the Stock Bonus only to the extent earned as of the date of Termination in accordance with the Performance
Stock Bonus Agreement, unless the Committee will determine otherwise.
              8.     PAYMENT FOR SHARE PURCHASES.

                         8.1   PAYMENT. Payment for Shares purchased
pursuant to this Plan may be made in cash (by check) or, where expressly approved for the Participant by the Committee and where permitted by law:

	 	(a)	 	by cancellation of indebtedness of the Company to the Participant;

   

	 	(b)	 	by surrender of shares that either: (1) have been owned by Participant for more than six (6) months and have been paid for within the meaning of SEC Rule 144 (and, if such shares were purchased from the Company by use of
a promissory note, such note has been fully paid with respect to such shares); or (2) were obtained by Participant in the public market;
	 	 	 
	 	(c)	 	by tender of a full recourse promissory note having such terms as may be approved by the Committee and bearing interest at a rate sufficient to avoid imputation of income under Sections 483 and 1274 of the Code; PROVIDED,
HOWEVER, that Participants who are not employees or directors of the Company will not be entitled to purchase Shares with a promissory note unless the note is adequately secured by collateral other than the Shares; PROVIDED, FURTHER, that the
portion of the Purchase Price equal to the par value of the Shares must be paid in cash; 
	 	 	 
	 	(d)	 	by waiver of compensation due or accrued to the Participant for services rendered; PROVIDED that the portion of the Purchase Price equal to the par value of the Shares must be paid in cash; 
	 	 	 
	 	(e)	 	by tender of property;
	 	 	 
	 	(f)	 	with respect only to purchases upon exercise of an Option, and provided that a public market for the Company’s stock exists: 

	 	(1)	 	through a “same day sale” commitment from the Participant and a broker-dealer that is a member of the National Association of Securities Dealers (an “NASD DEALER”) whereby the Participant irrevocably
elects to exercise the Option and to sell a portion of the Shares so purchased to pay for the Exercise Price, and whereby the NASD Dealer irrevocably commits upon receipt of such Shares to forward the Exercise Price directly to the Company;
or
	 	 	 
	 	(2)	 	through a “margin” commitment from the Participant and a NASD Dealer whereby the Participant irrevocably elects to exercise the Option and to pledge the Shares so purchased to the NASD Dealer in a margin account
as security for a loan from the NASD Dealer in the amount of the Exercise Price, and whereby the NASD Dealer irrevocably commits upon receipt of such Shares to forward the Exercise Price directly to the Company; or

	 	(g)	 	by any combination of the foregoing.

                         8.2   LOAN GUARANTEES. The Committee may help the Participant pay for Shares
purchased under this Plan by authorizing a guarantee by the Company of a third-party loan to the Participant.
              9.
    WITHHOLDING TAXES. 
                         9.1   WITHHOLDING GENERALLY. Whenever Shares are to be issued in satisfaction of
Awards granted under this Plan, the Company may require the Participant to remit to the Company an amount sufficient to satisfy federal, state and local withholding tax requirements prior to the delivery of any certificate or certificates for such
Shares. Whenever, under this Plan, payments in satisfaction of Awards are to be made in cash, such payment will be net of an amount sufficient to satisfy federal, state, and local withholding tax requirements.
                         9.2   STOCK WITHHOLDING. When, under applicable tax laws, a Participant incurs tax
liability in connection with the exercise or vesting of any Award that is subject to tax withholding and the Participant is obligated to pay the Company the amount required to be withheld, the Committee may allow the Participant to 

 

  satisfy the minimum withholding tax obligation by electing to have the Company withhold from the Shares to be issued that number of Shares having a Fair Market Value equal to the minimum
amount required to be withheld, determined on the date that the amount of tax to be withheld is to be determined (the “TAX DATE”). All elections by a Participant to have Shares withheld for this purpose will be made in writing in a form
acceptable to the Committee and will be subject to the following restrictions:

	 	(a)	 	the election must be made on or prior to the applicable Tax Date;
	 	 	 
	 	(b)	 	once made, then except as provided below, the election will be irrevocable as to the particular Shares as to which the election is made;
	 	 	 
	 	(c)	 	all elections will be subject to the consent or disapproval of the Committee;
	 	 	 
	 	(d)	 	if the Participant is an Insider and if the Company is subject to Section 16(b) of the Exchange Act: (1) the election may not be made within six (6) months of the date of grant of the Award, except as otherwise permitted
by SEC Rule 16b-3(e) under the Exchange Act, and (2) either (A) the election to use stock withholding must be irrevocably made at least six (6) months prior to the Tax Date (although such election may be revoked at any time at least six (6) months
prior to the Tax Date) or (B) the exercise of the Option or election to use stock withholding must be made in the ten (10) day period beginning on the third day following the release of the Company’s quarterly or annual summary statement of
sales or earnings; and
	 	 	 
	 	(e)	 	in the event that the Tax Date is deferred until six (6) months after the delivery of Shares under Section 83(b) of the Code, the Participant will receive the full number of Shares with respect to which the exercise
occurs, but such Participant will be unconditionally obligated to tender back to the Company the proper number of Shares on the Tax Date.

              10.     PRIVILEGES OF STOCK OWNERSHIP .
                         10.1   VOTING AND DIVIDENDS. No Participant will have any of the rights of a
stockholder with respect to any Shares until the Shares are issued to the Participant. After Shares are issued to the Participant, the Participant will be a stockholder and have all the rights of a stockholder with respect to such Shares, including
the right to vote and receive all dividends or other distributions made or paid with respect to such Shares; PROVIDED, that if such Shares are Restricted Stock, then any new, additional or different securities the Participant may become entitled to
receive with respect to such Shares by virtue of a stock dividend, stock split or any other change in the corporate or capital structure of the Company will be subject to the same restrictions as the Restricted Stock; PROVIDED, FURTHER, that the
Participant will have no right to retain such stock dividends or stock distributions with respect to Shares that are repurchased at the Participant’s original Purchase Price pursuant to Section 12.
                         10.2   FINANCIAL STATEMENTS. The Company will provide financial statements to each
Participant prior to such Participant’s purchase of Shares under this Plan, and to each Participant annually during the period such Participant has Awards outstanding; PROVIDED, HOWEVER, the Company will not be required to provide such
financial statements to Participants whose services in connection with the Company assure them access to equivalent information.
              11.
    TRANSFERABILITY . Awards granted under this Plan, and any interest therein, will not be transferable or assignable by Participant, and may not be made subject to execution, attachment or similar process, otherwise than
by will or by the laws of descent and distribution or as consistent with the specific Plan and Award Agreement provisions relating thereto. During the lifetime of the Participant an Award will be exercisable only by the Participant, and any
elections with respect to an Award, may be made only by the Participant. 
              12.     RESTRICTIONS ON SHARES . At
the discretion of the Committee, the Company may reserve to itself and/or its assignee(s) in the Award Agreement (a) a right of first refusal to purchase

   all Shares that a Participant (or a subsequent transferee) may propose to transfer to a third party, and/or (b) a right to repurchase a portion of or all Shares
held by a Participant following such Participant’s Termination at any time within ninety (90) days after the later of Participant’s Termination Date and the date Participant purchases Shares under this Plan, for cash and/or cancellation of
purchase money indebtedness, at: (A) with respect to Shares that are “Vested” (as defined in the Award Agreement), the higher of: (l) Participant’s original Purchase Price, or (2) the Fair Market Value of such Shares on
Participant’s Termination Date, PROVIDED, that such right of repurchase (i) must be exercised as to all such “Vested” Shares unless a Participant consents to the Company’s repurchase of only a portion of such “Vested”
Shares and (ii) terminates when the Company’s securities become publicly traded; or (B) with respect to Shares that are not “Vested” (as defined in the Award Agreement), at the Participant’s original Purchase Price, PROVIDED,
that the right to repurchase at the original Purchase Price lapses at the rate of at least 20% per year over five (5) years from the date the Shares were purchased (or from the date of grant of options in the case of Shares obtained pursuant to a
Stock Option Agreement and Stock Option Exercise Agreement), and if the right to repurchase is assignable, the assignee must pay the Company, upon assignment of the right to repurchase, cash equal to the excess of the Fair Market Value of the Shares
over the original Purchase Price.
              13.     CERTIFICATES . All certificates for Shares or other securities
delivered under this Plan will be subject to such stock transfer orders, legends and other restrictions as the Committee may deem necessary or advisable, including restrictions under any applicable federal, state or foreign securities law, or any
rules, regulations and other requirements of the SEC or any stock exchange or automated quotation system upon which the Shares may be listed or quoted. 
              14.     ESCROW; PLEDGE OF SHARES . To enforce any restrictions on a Participant’s Shares, the Committee may require the Participant to
deposit all certificates representing Shares, together with stock powers or other instruments of transfer approved by the Committee, appropriately endorsed in blank, with the Company or an agent designated by the Company to hold in escrow until such
restrictions have lapsed or terminated, and the Committee may cause a legend or legends referencing such restrictions to be placed on the certificates. Any Participant who is permitted to execute a promissory note as partial or full consideration
for the purchase of Shares under this Plan will be required to pledge and deposit with the Company all or part of the Shares so purchased as collateral to secure the payment of Participant’s obligation to the Company under the promissory note;
PROVIDED, HOWEVER, that the Committee may require or accept other or additional forms of collateral to secure the payment of such obligation and, in any event, the Company will have full recourse against the Participant under the promissory note
notwithstanding any pledge of the Participant’s Shares or other collateral. In connection with any pledge of the Shares, Participant will be required to execute and deliver a written pledge agreement in such form as the Committee will from time
to time approve. The Shares purchased with the promissory note may be released from the pledge on a pro rata basis as the promissory note is paid.
              15.     EXCHANGE AND BUYOUT OF AWARDS . The Committee may, at any time or from time to time, authorize the Company, with the consent of the
respective Participants, to issue new Awards in exchange for the surrender and cancellation of any or all outstanding Awards. The Committee may at any time buy from a Participant an Award previously granted with payment in cash, Shares (including
Restricted Stock) or other consideration, based on such terms and conditions as the Committee and the Participant may agree.
              16.
    SECURITIES LAW AND OTHER REGULATORY COMPLIANCE . An Award will not be effective unless such Award is in compliance with all applicable federal and state securities laws, rules and regulations of any governmental body,
and the requirements of any stock exchange or automated quotation system upon which the Shares may then be listed or quoted, as they are in effect on the date of grant of the Award and also on the date of exercise or other issuance. Notwithstanding
any other provision in this Plan, the Company will have no obligation to issue or deliver certificates for Shares under this Plan prior to: (a) obtaining any approvals from governmental agencies that the Company determines are necessary or
advisable; and/or (b) completion of any registration or other qualification of such Shares under any state or federal law or ruling of any governmental body that the Company determines to be necessary or advisable. The Company will be under no
obligation to register the Shares with the SEC or to effect compliance with the registration, qualification or listing requirements of any state securities laws, stock exchange or automated quotation system, and the Company will have no liability
for any inability or failure to do so.

                17.     NO OBLIGATION TO EMPLOY.  Nothing in this Plan or any Award granted under
this Plan will confer or be deemed to confer on any Participant any right to continue in the employ of, or to continue any other relationship with, the Company or any Parent, Subsidiary or Affiliate of the Company or limit in any way the right of
the Company or any Parent, Subsidiary or Affiliate of the Company to terminate Participant’s employment or other relationship at any time, with or without cause.
              18.     CORPORATE TRANSACTIONS. 
                         18.1   ASSUMPTION OR REPLACEMENT OF AWARDS BY SUCCESSOR. In the event of (a) a
dissolution or liquidation of the Company, (b) a merger or consolidation in which the Company is not the surviving corporation (other than a merger or consolidation with a wholly – owned subsidiary, a reincorporation of the Company in a
different jurisdiction, or other transaction in which there is no substantial change in the stockholders of the Company or their relative stock holdings and the Awards granted under this Plan are assumed, converted or replaced by the successor
corporation, which assumption will be binding on all Participants), (c) a merger in which the Company is the surviving corporation but after which the stockholders of the Company (other than any stockholder which merges (or which owns or controls
another corporation which merges) with the Company in such merger) cease to own their shares or other equity interests in the Company, (d) the sale of substantially all of the assets of the Company, or (e) any other transaction which qualifies as a
“corporate transaction” under Section 424(a) of the Code wherein the stockholders of the Company give up all of their equity interest in the Company (EXCEPT for the acquisition, sale or transfer of all or substantially all of the
outstanding shares of the Company from or by the stockholders of the Company), any or all outstanding Awards may be assumed, converted or replaced by the successor corporation (if any), which assumption, conversion or replacement will be binding on
all Participants. In the alternative, the successor corporation may substitute equivalent Awards or provide substantially similar consideration to Participants as was provided to stockholders (after taking into account the existing provisions of the
Awards). The successor corporation may also issue, in place of outstanding Shares of the Company held by the Participant, substantially similar shares or other property subject to repurchase restrictions no less favorable to the Participant. In the
event such successor corporation (if any) refuses to assume or substitute Options, as provided above, pursuant to a transaction described in this Subsection 18.1, such Options will expire on such transaction at such time and on such conditions as
the Board will determine.
                         18.2   OTHER TREATMENT OF
AWARDS. Subject to any greater rights granted to Participants under the foregoing provisions of this Section 18, in the event of the occurrence of any transaction described in Section 18.1, any outstanding Awards will be treated as provided in the
applicable agreement or plan of merger, consolidation, dissolution, liquidation, sale of assets or other “corporate transaction.”
                         18.3   ASSUMPTION OF AWARDS BY THE COMPANY. The Company, from time to time, also
may substitute or assume outstanding awards granted by another company, whether in connection with an acquisition of such other company or otherwise, by either: (a) granting an Award under this Plan in substitution of such other company’s
award; or (b) assuming such award as if it had been granted under this Plan if the terms of such assumed award could be applied to an Award granted under this Plan. Such substitution or assumption will be permissible if the holder of the substituted
or assumed award would have been eligible to be granted an Award under this Plan if the other company had applied the rules of this Plan to such grant. In the event the Company assumes an award granted by another company, the terms and conditions of
such award will remain unchanged (EXCEPT that the exercise price and the number and nature of Shares issuable upon exercise of any such option will be adjusted appropriately pursuant to Section 424(a) of the Code). In the event the Company elects to
grant a new Option rather than assuming an existing option, such new Option may be granted with a similarly adjusted Exercise Price.
             
19.     ADOPTION AND STOCKHOLDER APPROVAL. This Plan will become effective at the effective time of the merger of Elantec California with the Company (the “EFFECTIVE DATE”). This Plan will be approved by the
stockholders of the Company (excluding Shares issued pursuant to this Plan), consistent with applicable laws, within twelve (12) months before or after the date this Plan is adopted by the Board. Upon the Effective Date, the Board may grant Awards
pursuant to this Plan; PROVIDED, HOWEVER, that: (a) no Option may be exercised prior to initial stockholder approval of this Plan; (b) no Option granted pursuant to an increase in the

   number of Shares subject to this Plan approved by the Board will be exercised prior to the time such increase has been approved by the stockholders of the Company; and (c) in the event
that stockholder approval of such increase is not obtained within the time period provided herein, all Awards granted hereunder will be cancelled, any Shares issued pursuant to any Award will be cancelled and any purchase of Shares hereunder will be
rescinded. So long as the Company is subject to Section 16(b) of the Exchange Act, the Company will comply with the requirements of Rule 16b-3 (or its successor), as amended, with respect to stockholder approval.
              20.     TERM OF PLAN.  Unless earlier terminated as provided herein, this Plan will terminate ten (10) years from the date this Plan is
adopted by the Board or, if earlier, the date of stockholder approval.
              21.     AMENDMENT OR TERMINATION OF PLAN.
 The Board may at any time terminate or amend this Plan in any respect, including without limitation amendment of any form of Award Agreement or instrument to be executed pursuant to this Plan; PROVIDED, HOWEVER, that the Board will not, without
the approval of the stockholders of the Company, amend this Plan in any manner that requires such stockholder approval pursuant to the Code or the regulations promulgated thereunder as such provisions apply to ISO plans or (if the Company is subject
to the Exchange Act or Section 16(b) of the Exchange Act) pursuant to the Exchange Act or Rule 16b-3 (or its successor), as amended, thereunder, respectively.
              22.     NONEXCLUSIVITY OF THIS PLAN.  Neither the adoption of this Plan by the Board, the submission of this Plan to the stockholders of the
Company for approval, nor any provision of this Plan will be construed as creating any limitations on the power of the Board to adopt such additional compensation arrangements as it may deem desirable, including, without limitation, the granting of
stock options and bonuses otherwise than under this Plan, and such arrangements may be either generally applicable or applicable only in specific cases.
              23.     DEFINITIONS.  As used in this Plan, the following terms will have the following meanings:
                         “AFFILIATE” means any corporation that directly, or indirectly through one or more
intermediaries, controls or is controlled by, or is under common control with, another corporation, where “control” (including the terms “controlled by” and “under common control with”) means the possession, direct or
indirect, of the power to cause the direction of the management and policies of the corporation, whether through the ownership of voting securities, by contract or otherwise.
                         “AWARD” means any award under this Plan, including any Option, Restricted Stock or Stock
Bonus.
                         “AWARD AGREEMENT” means, with respect to each
Award, the signed written agreement between the Company and the Participant setting forth the terms and conditions of the Award.
                         “BOARD” means the Board of Directors of the Company.
                         “CODE” means the Internal Revenue Code of 1986, as amended.
                         “COMMITTEE” means the committee appointed by the Board to administer
this Plan, or if no such committee is appointed, the Board.
                         “COMPANY” means Elantec Semiconductor, Inc., a corporation organized under the laws of
the State of Delaware, or any successor corporation.
                         “DISABILITY” means a disability, whether temporary or permanent, partial or total,
within the meaning of Section 22(e)(3) of the Code, as determined by the Committee.
                         “DISINTERESTED PERSON” means a director who has not, during the period that person is a
member of the Committee and for one year prior to commencing service as a member of the Committee, been 

   granted or awarded equity securities pursuant to this Plan or any other plan of the Company or any Parent, Subsidiary or Affiliate of the Company, except in accordance with the
requirements set forth in Rule 16b-3(c)(2)(i) (and any successor regulation thereto) as promulgated by the SEC under Section 16(b) of the Exchange Act, as such rule is amended from time to time and as interpreted by the SEC.
                         “EXCHANGE ACT” means the Securities Exchange Act of 1934, as amended.

                         “EXERCISE PRICE” means the price at which a holder of an
Option may purchase the Shares issuable upon exercise of the Option.
                         “FAIR MARKET VALUE” means, as of any date, the value of a share of the Company’s
Common Stock, par value $0.01, determined as follows: 

	 	(a)	 	if such Common Stock is then quoted on the Nasdaq National Market, its last reported sale price on the Nasdaq National Market or, if no such reported sale takes place on such date, the average of the closing bid and asked
prices; 
	 	 	 
	 	(b)	 	if such Common Stock is publicly traded and is then listed on a national securities exchange, the last reported sale price or, if no such reported sale takes place on such date, the average of the closing bid and asked
prices on the principal national securities exchange on which the Common Stock is listed or admitted to trading;
	 	 	 
	 	(c)	 	if such Common Stock is publicly traded but is not quoted on the Nasdaq National Market nor listed or admitted to trading on a national securities exchange, the average of the closing bid and asked prices on such date, as
reported by THE WALL STREET JOURNAL, for the over-the-counter market; or 
	 	 	 
	 	(d)	 	if none of the foregoing is applicable, by the Board of Directors of the Company in good faith. 

                         “INSIDER” means an officer or director of the Company or any other person whose
transactions in the Company’s Common Stock, par value $0.01, are subject to Section 16 of the Exchange Act.
                         “OUTSIDE DIRECTOR” means any director who is not: (a) a current employee of the Company
or any Parent, Subsidiary or Affiliate of the Company; (b) a former employee of the Company or any Parent, Subsidiary or Affiliate of the Company who is receiving compensation for prior services (other than benefits under a tax-qualified pension
plan); (c) a current or former officer of the Company or any Parent, Subsidiary or Affiliate of the Company; or (d) currently receiving compensation for personal services in any capacity, other than as a director, from the Company or any Parent,
Subsidiary or Affiliate of the Company; provided, however, that at such time as the term “Outside Director”, as used in Section 162(m) of the Code is defined in regulations promulgated under Section 162(m) of the Code, “Outside
Director” will have the meaning set forth in such regulations, as amended from time to time and as interpreted by the Internal Revenue Service.
                         “OPTION” means an award of an option to purchase Shares pursuant to Section
5.
                         “PARENT” means any corporation (other than the
Company) in an unbroken chain of corporations ending with the Company, if at the time of the granting of an Award under this Plan, each of such corporations other than the Company owns stock possessing 50% or more of the total combined voting power
of all classes of stock in one of the other corporations in such chain.
                         “PARTICIPANT” means a person who receives an Award under this Plan. 
                         “PLAN” means this Elantec Semiconductor, Inc. 1995 Equity Incentive
Plan, as amended from time to time. 

 
                         “RESTRICTED STOCK AWARD” means
an award of Shares pursuant to Section 6.
                         “SEC” means the
Securities and Exchange Commission. 
                         “SECURITIES ACT”
means the Securities Act of 1933, as amended. 
                         “SHARES”
means shares of the Company’s Common Stock, par value $0.01, reserved for issuance under this Plan, as adjusted pursuant to Sections 2 and 18, and any successor security.
                         “STOCK BONUS” means an award of Shares, or cash in lieu of Shares, pursuant to Section
7.
                         “SUBSIDIARY” means any corporation (other than the
Company) in an unbroken chain of corporations beginning with the Company if, at the time of granting of the Award, each of the corporations other than the last corporation in the unbroken chain owns stock possessing 50% or more of the total combined
voting power of all classes of stock in one of the other corporations in such chain.
                         “TERMINATION” or “TERMINATED” means, for purposes of this Plan with respect to
a Participant, that the Participant has for any reason ceased to provide services as an employee, director, consultant, independent contractor or advisor to the Company or a Parent, Subsidiary or Affiliate of the Company, except in the case of sick
leave, military leave, or any other leave of absence approved by the Committee, PROVIDED that such leave is for a period of not more than ninety (90) days, or reinstatement upon the expiration of such leave is guaranteed by contract or statute. The
Committee will have sole discretion to determine whether a Participant has ceased to provide services and the effective date on which the Participant ceased to provide services (the “TERMINATION DATE”).

 

  ELANTEC SEMICONDUCTOR, INC. 
  1995 EQUITY INCENTIVE PLAN 
  STOCK OPTION AGREEMENT 
             This Stock Option Agreement (this “Agreement”) is made and entered into as of the date of grant set forth in the Notice of Grant of Stock
Options and Option Agreement (the “Date of Grant”) by and between Elantec Semiconductor, Inc., a Delaware corporation (the “Company”), and the participant named in the Notice of Grant of Stock Options and Option Agreement
(“Participant”). Capitalized terms not defined herein shall have the meaning ascribed to them in the Company’s 1995 Equity Incentive Plan, as amended (the “Plan”). 
              1.     GRANT OF OPTION . The Company hereby grants to Participant an option (this “Option”) to purchase up to the total number of
shares of Common Stock, par value $0.01 of the Company set forth above (collectively, the “Shares”) at the Exercise Price Per Share set forth above (the “Exercise Price”), subject to all of the terms and conditions of this
Agreement and the Plan. If designated as an Incentive Stock Option above, this Option is intended to qualify as an “incentive stock option” (“ISO”) within the meaning of Section 422 of the Internal Revenue Code of 1986, as
amended (the “Code”).
              2.     VESTING; EXERCISE PERIOD .
                         2.1   VESTING; EXERCISE PERIOD OF OPTION. (a) Provided Participant continues to
provide services to the Company or any Subsidiary, Parent or Affiliate of the Company throughout the specified period, the Option shall become exercisable with respect to twenty-five percent (25%) of the Shares at the end of each full succeeding
year after the Vesting Start Date set forth above (the “Vesting Start Date”); (b) if Participant has continuously provided services to the Company or any Subsidiary, Parent or Affiliate of the Company from the Date of Grant through the
First Vesting Date and has not been Terminated on or before the First Vesting Date, then on the First Vesting Date this Option shall become exercisable as to twenty-five percent (25%) of the Shares on the first anniversary of the date of hire for
new employees and on the first anniversary of the date of grant for existing employees and 1/48th of the total number of shares on a monthly basis thereafter; PROVIDED that this Option shall in no event ever become exercisable with respect to more
than 100% of the Shares.
                         2.2   EXPIRATION. This
Option shall expire on the Expiration Date and must be exercised, if at all, on or before the earlier of the Expiration Date or the date on which this Option is earlier terminated in accordance with the provisions of Section 3.
              3.     TERMINATION .
                         3.1   TERMINATION FOR ANY REASON EXCEPT DEATH OR DISABILITY. If Participant is
Terminated for any reason, except Participant’s death or Disability, then this Option, to the extent (and only to the extent) that it would have been exercisable by Participant on the Termination Date, may be exercised by Participant no later
than three (3) months after the Termination Date, but in any event no later than the Expiration Date.
                         3.2   TERMINATION BECAUSE OF DEATH OR DISABILITY. If Participant is Terminated
because of death or Disability of Participant (or Participant dies within three (3) months after Termination other than because of Participant’s death or disability), then this Option, to the extent that it is exercisable by Participant on the
Termination Date, may be exercised by Participant (or Participant’s legal representative) no later than twelve (12) months after the Termination Date, but in any event no later than the Expiration Date. Any exercise beyond (a) three (3) months
after the Termination Date when the Termination is for any reason other than the Participant’s death or Disability, or (b) twelve (12) months after the Termination Date when the Termination is for Participant’s death or Disability, deemed
to be an nonqualified stock option. 
                         3.3   NO
OBLIGATION TO EMPLOY. Nothing in the Plan or this Agreement shall confer on Participant any right to continue in the employ of, or other relationship with, the Company or any Parent, Subsidiary 

 
 or Affiliate of the Company, or limit in any way the right of the Company or any Parent, Subsidiary or Affiliate of the Company to terminate Participant’s employment or other
relationship at any time, with or without cause. 
              4.     MANNER OF EXERCISE .
                         4.1   STOCK OPTION EXERCISE AGREEMENT. To exercise this Option, Participant (or in
the case of exercise after Participant’s death, Participant’s executor, administrator, heir or legatee, as the case may be) must deliver to the Company an executed stock option exercise agreement in the form attached hereto as EXHIBIT A,
or in such other form as may be approved by the Company from time to time (the “Exercise Agreement”), which shall set forth, INTER ALIA, Participant’s election to exercise this Option, the number of Shares being purchased, any
restrictions imposed on the Shares and any representations, warranties and agreements regarding Participant’s investment intent and access to information as may be required by the Company to comply with applicable securities laws. If someone
other than Participant exercises this Option, then such person must submit documentation reasonably acceptable to the Company that such person has the right to exercise this Option.
                         4.2   LIMITATIONS ON EXERCISE. This Option may not be exercised unless such
exercise is in compliance with all applicable federal and state securities laws, as they are in effect on the date of exercise. This Option may not be exercised as to fewer than 100 Shares unless it is exercised as to all Shares as to which this
Option is then exercisable.
                         4.3   PAYMENT. The
Exercise Agreement shall be accompanied by full payment of the Exercise Price for the Shares being purchased in cash (by check), or where permitted by law:

	 	(a)	 	by cancellation of indebtedness of the Company to the Participant;
	 	 	 
	 	(b)	 	by surrender of shares of the Company’s Common Stock that either: (1) have been owned by Participant for more than six (6) months and have been paid for within the meaning of SEC Rule 144 (and, if such shares were
purchased from the Company by use of a promissory note, such note has been fully paid with respect to such shares); or (2) were obtained by Participant in the open public market; AND (3) are clear of all liens, claims, encumbrances or security
interests;
	 	 	 
	 	(c)	 	by tender of a full recourse promissory note having such terms as may be approved by the Committee and bearing interest at a rate sufficient to avoid imputation of income under Sections 483 and 1274 of the Code; PROVIDED,
HOWEVER, that Participants who are not employees or directors of the Company shall not be entitled to purchase Shares with a promissory note unless the note is adequately secured by collateral other than the Shares; and PROVIDED, FURTHER, that the
portion of the Exercise Price equal to the par value of the Shares must be paid in cash; 
	 	 	 
	 	(d)	 	by waiver of compensation due or accrued to Participant for services rendered; PROVIDED that the portion of the Exercise Price equal to the par value of the Shares must be paid in cash;
	 	 	 
	 	(e)	 	by tender of property
	 	 	 
	 	(f)	 	provided that a public market for the Company’s stock exists: (1) through a “same day sale” commitment from Participant and a broker-dealer that is a member of the National Association of Securities Dealers
(an “NASD Dealer”) whereby Participant irrevocably elects to exercise this Option and to sell a portion of the Shares so purchased to pay for the exercise price and whereby the NASD Dealer irrevocably commits upon receipt of such Shares to
forward the exercise price directly to the Company; OR (2) through a “margin” commitment from Participant and a NASD Dealer whereby Participant — irrevocably elects to exercise this Option and to pledge the

  
	 	 	 	Shares so purchased to the NASD Dealer in a margin account as security for a loan from the NASD Dealer in the amount of the exercise price, and whereby the NASD Dealer irrevocably commits upon receipt of such Shares to
forward the exercise price directly to the Company; or
	 	 	 	 
	 	(g)	 	by any combination of the foregoing.

 
                         4.4   TAX WITHHOLDING. Prior to the issuance of the Shares upon exercise of this
Option, Participant must pay or provide for any applicable federal or state withholding obligations of the Company. If the Committee permits, Participant may provide for payment of withholding taxes upon exercise of this Option by requesting that
the Company retain Shares with a Fair Market Value equal to the minimum amount of taxes required to be withheld. In such case, the Company shall issue the net number of Shares to the Participant by deducting the Shares retained from the Shares
issuable upon exercise.
                         4.5   ISSUANCE OF SHARES.
Provided that the Exercise Agreement and payment are in form and substance satisfactory to counsel for the Company, the Company shall issue the Shares registered in the name of Participant, Participant’s authorized assignee, or
Participant’s legal representative, and shall deliver certificates representing the Shares with the appropriate legends affixed thereto.
              5.     NOTICE OF DISQUALIFYING DISPOSITION OF ISO SHARES.  If this Option is an ISO, and if Participant sells or otherwise disposes of any
of the Shares acquired pursuant to the ISO on or before the later of (a) the date two (2) years after the Date of Grant, and (b) the date one (1) year after transfer of such Shares to Participant upon exercise of this Option, then Participant shall
immediately notify the Company in writing of such disposition. Participant agrees that Participant may be subject to income tax withholding by the Company on the compensation income recognized by Participant from the early disposition by payment in
cash or out of the current wages or other compensation payable to Participant.
              6.     COMPLIANCE WITH LAWS AND
REGULATIONS . The exercise of this Option and the issuance and transfer of Shares shall be subject to compliance by the Company and Participant with all applicable requirements of federal and state securities laws and with all applicable
requirements of any stock exchange on which the Company’s Common Stock may be listed at the time of such issuance or transfer. Participant understands that the Company is under no obligation to register or qualify the Shares with the Securities
and Exchange Commission, any state securities commission or any stock exchange to effect such compliance. 
              7.    
NONTRANSFERABILITY OF OPTION . This Option may not be transferred in any manner other than by will or by the laws of descent and distribution and may be exercised during the lifetime of Participant only by Participant. The terms of this Option
shall be binding upon the executors, administrators, successors and assigns of Participant.
              8.     TAX
CONSEQUENCES.  Set forth below is a brief summary as of the Date of Grant of some of the federal and California tax consequences of exercise of this Option and disposition of the Shares. THIS SUMMARY IS NECESSARILY INCOMPLETE, AND THE TAX LAWS
AND REGULATIONS ARE SUBJECT TO CHANGE. PARTICIPANT SHOULD CONSULT A TAX ADVISOR BEFORE EXERCISING THE OPTION OR DISPOSING OF THE SHARES. 
                         8.1   EXERCISE OF ISO. If this Option qualifies as an ISO, there will be no regular
federal or California income tax liability upon the exercise of this Option, although the excess, if any, of the fair market value of the Shares on the date of exercise over the Exercise Price will be treated as a tax preference item for federal
income tax purposes and may subject the Participant to the alternative minimum tax in the year of exercise.
                         8.2   EXERCISE OF NONQUALIFIED STOCK OPTION. If this Option does not qualify as an
ISO, there may be a regular federal and California income tax liability upon the exercise of this Option. Participant will be treated as having received compensation income (taxable at ordinary income tax rates) equal to the excess, if any, of the
fair market value of the Shares on the 

 

  date of exercise over the Exercise Price. The Company will be required to withhold from Participant’s compensation or collect from Participant and pay to the applicable taxing
authorities an amount equal to a percentage of this compensation income at the time of exercise.
                         8.3   DISPOSITION OF SHARES. If the Shares are held for more than twelve (12)
months after the date of the transfer of the Shares pursuant to the exercise of this Option (and, in the case of an ISO, are 

 

  disposed of more than two (2) years after the Date of Grant), then any gain realized on disposition of the Shares will be treated as long term capital gain for federal and California income tax
purposes. If Shares purchased under an ISO are disposed of within one (1) year of exercise or within two (2) years after the Date of Grant, then any gain realized on such disposition will be treated as compensation income (taxable at ordinary income
rates) to the extent of the excess, if any, of the fair market value of the Shares on the date of exercise over the Exercise Price. The Company will be required to withhold from Participant’s compensation or collect from Participant and pay to
the applicable taxing authorities an amount equal to a percentage of this compensation income at the time of exercise.
              9.
    PRIVILEGES OF STOCK OWNERSHIP.  Participant shall not have any of the rights of a stockholder with respect to any Shares until Participant exercises this Option and pays the Exercise Price.
              10.     INTERPRETATION.  Any dispute regarding the interpretation of this Agreement shall be submitted by Participant or
the Company to the Committee for review. The resolution of such a dispute by the Committee shall be final and binding on the Company and Participant.
              11.     ENTIRE AGREEMENT.  The Plan is incorporated herein by reference. This Agreement and the Plan and the Exercise Agreement constitute
the entire agreement and understanding of the parties hereto with respect to the subject matter hereof and supersede all prior understandings and agreements with respect to such subject matter.
              12.     NOTICES.  Any notice required to be given or delivered to the Company under the terms of this Agreement shall be in writing and
addressed to the Corporate Secretary of the Company at its principal corporate offices. Any notice required to be given or delivered to Participant shall be in writing and addressed to Participant at the address indicated above or to such other
address as such party may designate in writing from time to time to the Company. All notices shall be deemed to have been given or delivered upon: personal delivery; three (3) days after deposit in the United States mail by certified or registered
mail (return receipt requested); one (1) business day after deposit with any return receipt express courier (prepaid); or one (1) business day after transmission by rapifax or telecopier.
              13.     SUCCESSORS AND ASSIGNS.  The Company may assign any of its rights under this Agreement. This Agreement shall be binding upon and
inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement shall be binding upon Participant and Participant’s heirs, executors, administrators, legal
representatives, successors and assigns.
              14.     GOVERNING LAW.  This Agreement shall be governed by and
construed in accordance with the internal laws of the State of Delaware, without regard to that body of law pertaining to choice of law or conflict of law. 
              15.     ACCEPTANCE.  Participant hereby acknowledges receipt of a copy of the Plan and this Agreement. Participant has read and understands
the terms and provisions thereof, and accepts this Option subject to all the terms and conditions of the Plan and this Agreement. Participant acknowledges that there may be adverse tax consequences upon exercise of this Option or disposition of the
Shares and that the Company has advised Participant to consult a tax advisor prior to such exercise or disposition.
             IN WITNESS WHEREOF, the
Company has caused this Agreement to be executed in duplicate by its duly authorized representative and Participant has executed this Agreement in duplicate as of the Date of Grant.

	 ELANTEC SEMICONDUCTOR, INC. 

	 	 OPTIONEE 

	By:  
                                        
                                      	 	By:  	
                                        
                                       

		 	 	
	       Richard M. Beyer
       President & Chief Executive Officer	 	 	                                Signature

                                        
                                       

	 	 	 	                               Print
Name

 

  EXHIBIT A 
  STOCK OPTION EXERCISE AGREEMENT

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