Document:

Warrant to Purchase Shares of Series E preferred stock

 Exhibit 4.17 
 THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 AS AMENDED, OR ANY STATE SECURITIES LAWS. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT
RELATED THERETO OR AN OPINION OF COUNSEL (WHICH MAY BE COMPANY COUNSEL) REASONABLY SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933 ACT AS AMENDED, OR ANY APPLICABLE STATE SECURITIES LAWS.

 WARRANT AGREEMENT 
 To Purchase
Shares of the Series E Preferred Stock of 
 RUBICON TECHNOLOGY, INC. 
 Dated as of April 9, 2007 (the “Effective Date”) 
 WHEREAS, Rubicon
Technology, Inc., a Delaware corporation (the “Company”), has entered into a Loan and Security Agreement of even date herewith (the “Loan Agreement”) with Hercules Technology Growth Capital Inc., a Maryland
corporation (the “Warrantholder”); 
 WHEREAS, the Company desires to grant to Warrantholder, in consideration for, among
other things, the financial accommodations provided for in the Loan Agreement, the right to purchase shares of its Series E Preferred Stock pursuant to this Warrant Agreement (the “Agreement”); 
 NOW, THEREFORE, in consideration of the Warrantholder executing and delivering the Loan Agreement and providing the financial accommodations contemplated
therein, and in consideration of the mutual covenants and agreements contained herein, the Company and Warrantholder agree as follows: 
 SECTION 1.
GRANT OF THE RIGHT TO PURCHASE PREFERRED STOCK. 
 For value received, the Company hereby grants to the Warrantholder, and the Warrantholder
is entitled, upon the terms and subject to the conditions hereinafter set forth, to subscribe for and purchase, from the Company, up to 1,710,620 fully paid and non-assessable shares of Preferred Stock (as defined below) at the Exercise Price (as
defined below). As used herein, the following terms shall have the following meanings: 
 “1934 Act” has the meaning given to
it in Section 10(d). 
 “Acknowledgment of Exercise” has the meaning given to it in Section 3(a). 
 “Act” means the Securities Exchange Act of 1933, as amended. 
 “Charter” means the Company’s Articles of Incorporation, Certificate of Incorporation or other constitutional document, as may be
amended from time to time. 
 “Common Stock” means the Company’s common stock, $.001 par value per share. 
 “Exercise Price” means $0.2806. The Exercise Price is subject to adjustment as provided in Section 8. 
  

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 “Initial Public Offering” means the initial underwritten public offering of the
Company’s Common Stock pursuant to a registration statement under the Act, which public offering has been declared effective by the Securities and Exchange Commission (“SEC”). 
 “Merger Event” means (i) a merger or consolidation involving the Company in which (x) the Company is not the surviving entity,
or (y) the outstanding shares of the Company’s capital stock are otherwise converted into or exchanged for shares of capital of another entity; or (ii) or the sale of all or substantially all of the assets of the Company; provided
however that Merger Event shall not include any transaction constituting a Public Acquisition if this Warrant is terminated pursuant to clause (iii) of Section 2. 
 “Net Issuance” has the meaning given to it in Section 3(a). 
 “Notice of Exercise” has the meaning given to it in Section 3(a). 
 “Preferred Stock” means the Series E Preferred Stock of the Company and any other stock into or for which the Series E Preferred Stock
may be converted or exchanged, and upon and after the occurrence of an event which results in the automatic or voluntary conversion, redemption or retirement of all (but not less than all) of the outstanding shares of such Preferred Stock,
including, without limitation, the consummation of an Initial Public Offering of the Common Stock in which such a conversion occurs, then from and after the date upon which such outstanding shares are so converted, redeemed or retired,
“Preferred Stock” shall mean such Common Stock. 
 “Public Acquisition” means any consolidation or merger of the
Company with another corporation, or the sale of all or substantially all of its assets to another corporation which is effected such that (i) the holders of Preferred Stock shall be entitled to receive cash or shares of stock that are of a
publicly traded company listed on a national market or exchange which may be sold without restrictions after the close of such event, (ii) the Company’s stockholders own less than 50% of the voting securities of the surviving entity, and
(iii) if the Company has other warrants that are then outstanding, the surviving entity does not assume such other warrants. 
 “Purchase Price” means, with respect to any exercise of this Agreement, an amount equal to the Exercise Price as of the relevant time multiplied by the number of shares of Preferred Stock requested to be exercised under
this Agreement pursuant to such exercise. 
 “Transfer Notice” has the meaning given to it in Section 11. 
 “Warrant” has the meaning given to it in Section 2. 
 In addition, capitalized terms used herein but not otherwise defined herein shall have the meaning assigned to such terms in the Loan Agreement. 
 SECTION 2. TERM OF THE AGREEMENT. 
 Except as otherwise provided for herein, the term of this
Agreement and the right to purchase Preferred Stock as granted herein (the “Warrant”) shall commence on the Effective Date and shall be exercisable for a period ending upon the earliest to occur of (i) seven (7) years from
the Effective Date; (ii) three (3) years after the Initial Public Offering; or (iii) upon the written request of the acquiring company, a Public Acquisition. 
 SECTION 3. EXERCISE OF THE PURCHASE RIGHTS. 
 (a) Exercise. The purchase rights set forth in
this Agreement are exercisable by the Warrantholder, in whole or in part, at any time, or from time to time, prior to the expiration of the term set forth in Section 2, by tendering to the Company at its principal office a notice of exercise

  

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in the form attached hereto as Exhibit I (the “Notice of Exercise”), duly completed and executed. Promptly upon receipt of the Notice
of Exercise and the payment of the Purchase Price in accordance with the terms set forth below, and in no event later than three (3) days thereafter, the Company shall issue to the Warrantholder a certificate for the number of shares of
Preferred Stock purchased and shall execute the acknowledgment of exercise in the form attached hereto as Exhibit II (the “Acknowledgment of Exercise”) indicating the number of shares which remain subject to future purchases,
if any. 
 The Purchase Price may be paid at the Warrantholder’s election either (i) by cash or check, or (ii) by surrender of
all or a portion of the Warrant for shares of Preferred Stock to be exercised under this Agreement and, if applicable, indicate on the Acknowledgement of Exercise the remaining number of shares purchasable hereunder, as determined below
(“Net Issuance”). If the Warrantholder elects the Net Issuance method, the Company will issue Preferred Stock in accordance with the following formula: 
  

							
		 	X =	  	 Y(A-B) 	  	
		 		  	A	  	

							
	Where:	 	X =	  	the number of shares of Preferred Stock to be issued to the Warrantholder.
				
		 		  	Y =	  	the number of shares of Preferred Stock requested to be exercised under this Agreement.
				
		 		  	A =	  	the fair market value of one (1) share of Preferred Stock at the time of issuance of such shares of Preferred Stock.
				
		 		  	B =	  	the Exercise Price.

 For purposes of the above calculation, current fair market value of Preferred Stock shall mean
with respect to each share of Preferred Stock: 
 (i) if the exercise is in connection with an Initial Public Offering, and if
the Company’s Registration Statement relating to such Initial Public Offering has been declared effective by the SEC, then the fair market value per share shall be the product of (x) the initial “Price to Public” of the Common
Stock specified in the final prospectus with respect to the offering and (y) the number of shares of Common Stock into which each share of Preferred Stock is convertible at the time of such exercise; 
 (ii) if the exercise is after, and not in connection with an Initial Public Offering, and: 
 (A) if the Common Stock is traded on a securities exchange, the fair market value shall be deemed to be the product of (x) the
average of the closing prices over a ten (10) day period ending three days before the day the current fair market value of the securities is being determined and (y) the number of shares of Common Stock into which each share of Preferred
Stock is convertible at the time of such exercise; or 
 (B) if the Common Stock is traded over-the-counter, the fair market
value shall be deemed to be the product of (x) the average of the closing bid and asked prices quoted on the NASDAQ system (or similar system) over the ten (10) day period ending three days before the day the current fair market value of
the securities is being determined and (y) the number of shares of Common Stock into which each share of Preferred Stock is convertible at the time of such exercise; 
  

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 (iii) if at any time the Common Stock is not listed on any securities exchange or quoted
in the NASDAQ National Market or the over-the-counter market, the current fair market value of Preferred Stock shall be the product of (x) the highest price per share which the Company could obtain from a willing buyer (not a current employee
or director) for shares of Common Stock sold by the Company, from authorized but unissued shares, as determined in good faith by its Board of Directors and (y) the number of shares of Common Stock into which each share of Preferred Stock is
convertible at the time of such exercise, unless the Company shall become subject to a Merger Event pursuant to which the Company is not the surviving party, in which case the fair market value of Preferred Stock shall be deemed to be the per share
value received by the holders of the Company’s Preferred Stock on a common equivalent basis pursuant to such Merger Event. 
 Upon
partial exercise by either cash or Net Issuance, the Company shall indicate on the Acknowledgement of Exercise the remaining number of shares purchasable hereunder. All other terms and conditions of such amended Agreement shall be identical to those
contained herein, including, but not limited to the Effective Date hereof. 
 (b) Exercise Prior to Expiration. To the extent this
Agreement is not previously exercised as to all Preferred Stock subject hereto, and if the fair market value of one share of the Preferred Stock is greater than the Exercise Price then in effect, this Agreement shall be deemed automatically
exercised pursuant to Section 3(a) (even if not surrendered) immediately before its expiration. For purposes of such automatic exercise, the fair market value of one share of the Preferred Stock upon such expiration shall be determined pursuant
to Section 3(a). To the extent this Agreement or any portion thereof is deemed automatically exercised pursuant to this Section 3(b), the Company agrees to promptly notify the Warrantholder of the number of shares of Preferred Stock, if
any, the Warrantholder is to receive by reason of such automatic exercise. 
 SECTION 4. RESERVATION OF SHARES. 
 During the term of this Agreement, the Company will at all times have authorized and reserved a sufficient number of shares of its Preferred Stock to
provide for the exercise of the rights to purchase Preferred Stock as provided for herein. As soon as practicable and, in any event, upon exercise by Warrantholder of its rights to purchase Preferred Stock as provided for herein, the Company shall
authorize and reserve a sufficient number of shares of its Common Stock to provide for the conversion of the Preferred Shares available hereunder. 
 SECTION 5. NO FRACTIONAL SHARES OR SCRIP. 
 No fractional shares or scrip representing fractional shares shall be issued upon
the exercise of this Agreement, but in lieu of such fractional shares the Company shall make a cash payment therefor upon the basis of the Exercise Price then in effect. 
 SECTION 6. NO RIGHTS AS SHAREHOLDER/STOCKHOLDER. 
 This Agreement does not entitle the Warrantholder
to any voting rights or other rights as a shareholder/stockholder of the Company prior to the exercise of this Agreement. 
 SECTION 7. WARRANTHOLDER
REGISTRY. 
 The Company shall maintain a registry showing the name and address of the registered holder of this Agreement.
Warrantholder’s initial address, for purposes of such registry, is set forth in Section 12(g). Warrantholder may change such address by giving written notice of such changed address to the Company. 
  

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 SECTION 8. ADJUSTMENT RIGHTS. 
 The Exercise Price and the number of shares of Preferred Stock purchasable hereunder are subject to adjustment, as follows: 
 (a) Merger Event. If at any time there shall be a Merger Event, then, as a part of such Merger Event, lawful provision shall be made so that the Warrantholder shall thereafter be entitled to receive, upon
exercise of this Agreement, the kind, amount and value of shares of preferred stock or other securities or property of the successor, surviving or purchasing corporation resulting from, or participating in, such Merger Event that would have been
issuable if Warrantholder had exercised this Agreement immediately prior to the Merger Event. In any such case, appropriate adjustment (as determined in good faith by the Company’s Board of Directors) shall be made in the application of the
provisions of this Agreement with respect to the rights and interests of the Warrantholder after the Merger Event to the end that the provisions of this Agreement (including adjustments of the Exercise Price) shall be applicable in their entirety,
and to the greatest extent possible. Without limiting the foregoing, in connection with any Merger Event, upon the closing thereof, the successor, surviving or purchasing entity shall assume the obligations of this Agreement. The provisions of this
Section 8(a) shall similarly apply to successive Merger Events. In connection with a Merger Event and upon Warrantholder’s written election to the Company, the Company shall cause this Warrant Agreement to be exchanged for the
consideration that Warrantholder would have received if Warrantholder chose to exercise its right to have shares issued pursuant to the Net Issuance provisions of this Warrant Agreement without actually exercising such right, acquiring such shares
and exchanging such shares for such consideration. 
 (b) Reclassification of Shares. Except as set forth in Section 8(a), if the
Company at any time shall, by combination, reclassification, exchange or subdivision of securities or otherwise, change any of the securities as to which purchase rights under this Agreement exist into the same or a different number of securities of
any other class or classes, this Agreement shall thereafter represent the right to acquire such number and kind of securities as would have been issuable as the result of such change with respect to the securities which were subject to the purchase
rights under this Agreement immediately prior to such combination, reclassification, exchange, subdivision or other change. 
 (c)
Subdivision or Combination of Shares. If the Company at any time shall combine or subdivide its Preferred Stock, (i) in the case of a subdivision, the Exercise Price shall be proportionately decreased, and the number of shares of
Preferred Stock issuable upon exercise of this Agreement shall be proportionately increased, or (ii) in the case of a combination, the Exercise Price shall be proportionately increased, and the number of shares of Preferred Stock issuable upon
the exercise of this Agreement shall be proportionately decreased. 
 (d) Stock Dividends. If the Company at any time while this
Agreement is outstanding and unexpired shall: 
 (i) pay a dividend with respect to the Preferred Stock payable in Preferred
Stock, then the Exercise Price shall be adjusted, from and after the date of determination of shareholders/stockholders entitled to receive such dividend or distribution, to that price determined by multiplying the Exercise Price in effect
immediately prior to such date of determination by a fraction (A) the numerator of which shall be the total number of shares of Preferred Stock outstanding immediately prior to such dividend or distribution, and (B) the denominator of
which shall be the total number of shares of Preferred Stock outstanding immediately after such dividend or distribution; or 
  

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 (ii) make any other distribution with respect to Preferred Stock (or stock into which the
Preferred Stock is convertible), except any distribution specifically provided for in any other clause of this Section 8, then, in each such case, provision shall be made by the Company such that the Warrantholder shall receive upon exercise or
conversion of this Warrant a proportionate share of any such distribution as though it were the holder of the Preferred Stock (or other stock for which the Preferred Stock is convertible) as of the record date fixed for the determination of the
shareholders/stockholders of the Company entitled to receive such distribution. 
 (e) Antidilution Rights. Additional antidilution
rights applicable to the Preferred Stock purchasable hereunder are as set forth in the Company’s Charter and any other applicable shareholders’ rights agreements, and shall be applicable with respect to the Preferred Stock issuable
hereunder. The Company shall promptly provide the Warrantholder with any restatement, amendment, modification or waiver of the Charter or any other applicable shareholders’ rights agreements; provided, that no such amendment,
modification or waiver shall impair or reduce the antidilution rights applicable to the Preferred Stock as of the date hereof unless such amendment, modification or waiver affects the rights of Warrantholder with respect to the Preferred Stock in
the same manner as it affects all other holders of Preferred Stock. The Company shall provide Warrantholder with prior written notice of any issuance of its stock or other equity security to occur after the Effective Date of this Agreement, which
notice shall include (a) the price at which such stock or security is to be sold, (b) the number of shares to be issued, and (c) such other information as necessary for Warrantholder to determine if a dilutive event has occurred. For
the avoidance of doubt, there shall be no duplicate anti-dilution adjustment pursuant to this subsection (e), the forgoing subsection (d) and the Company’s Charter. 
 (f) Notice of Adjustments. If: (i) the Company shall declare any dividend or distribution upon its stock, whether in stock, cash, property or
other securities (assuming Warrantholder consents under the Loan Agreement to a dividend involving cash, property or other securities); (ii) the Company shall offer for subscription prorata to the holders of any class of its Preferred Stock or
other convertible stock any additional shares of stock of any class or other rights; (iii) there shall be any Merger Event; (iv) there shall be an Initial Public Offering; (v) the Company shall sell, lease, license or otherwise
transfer all or substantially all of its assets; or (vi) there shall be any voluntary dissolution, liquidation or winding up of the Company; then, in connection with each such event, the Company shall send to the Warrantholder: (A) at
least 10 days’ prior written notice of the date on which the books of the Company shall close or a record shall be taken for such dividend, distribution, subscription rights (specifying the date on which the holders of Preferred Stock shall be
entitled thereto) or for determining rights to vote in respect of such Merger Event, dissolution, liquidation or winding up; (B) in the case of any such Merger Event, sale, lease, license or other transfer of all or substantially all assets,
dissolution, liquidation or winding up, at least 10 days’ prior written notice of the date when the same shall take place (and specifying the date on which the holders of Preferred Stock shall be entitled to exchange their Preferred Stock for
securities or other property deliverable upon such Merger Event, dissolution, liquidation or winding up); and (C) in the case of an Initial Public Offering, the Company shall give the Warrantholder at least 10 days’ written notice prior to
the effective date thereof. 
 Each such written notice shall set forth, in reasonable detail, (i) the event requiring the notice, and
(ii) if any adjustment is required to be made, (A) the amount of such adjustment, (B) the method by which such adjustment was calculated, (C) the adjusted Exercise Price (if the Exercise Price has been adjusted), and (D) the
number of shares subject to purchase hereunder after giving effect to such adjustment, and shall be given by first class mail, postage prepaid, or by reputable overnight courier with all charges prepaid, addressed to the Warrantholder at the address
for Warrantholder set forth in the registry referred to in Section 7. 
  

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 (g) Timely Notice. Failure to timely provide such notice required by subsection (f) above
shall entitle Warrantholder to retain the benefit of the applicable notice period notwithstanding anything to the contrary contained in any insufficient notice received by Warrantholder. For purposes of this subsection (g), and notwithstanding
anything to the contrary in Section 12(g), the notice period shall begin on the date Warrantholder actually receives a written notice containing all the information required to be provided in such subsection (f). 
 SECTION 9. REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE COMPANY. 
 (a) Reservation of Preferred Stock. The Preferred Stock issuable upon exercise of the Warrantholder’s rights has been duly and validly reserved and, when issued in accordance with the provisions of this
Agreement, will be validly issued, fully paid and non-assessable, and will be free of any taxes, liens, charges or encumbrances of any nature whatsoever; provided, that the Preferred Stock issuable pursuant to this Agreement may be subject to
restrictions on transfer under state and/or federal securities laws. The Company has made available to the Warrantholder true, correct and complete copies of its Charter and current bylaws. The issuance of certificates for shares of Preferred Stock
upon exercise of this Agreement shall be made without charge to the Warrantholder for any issuance tax in respect thereof, or other cost incurred by the Company in connection with such exercise and the related issuance of shares of Preferred Stock;
provided, that the Company shall not be required to pay any tax which may be payable in respect of any transfer and the issuance and delivery of any certificate in a name other than that of the Warrantholder. 
 (b) Due Authority. The execution and delivery by the Company of this Agreement and the performance of all obligations of the Company hereunder,
including the issuance to Warrantholder of the right to acquire the shares of Preferred Stock and the Common Stock into which it may be converted, have been duly authorized by all necessary corporate action on the part of the Company. The Loan
Agreement and this Agreement: (1) are not inconsistent with the Company’s Charter or current bylaws; (2) do not contravene any law or governmental rule, regulation or order applicable to it; and (3) do not and will not contravene
any provision of, or constitute a default under, any indenture, mortgage, contract or other instrument to which it is a party or by which it is bound. The Loan Agreement and this Agreement constitute legal, valid and binding agreements of the
Company, enforceable in accordance with their respective terms. 
 (c) Consents and Approvals. No consent or approval of, giving of
notice to, registration with, or taking of any other action in respect of any state, federal or other governmental authority or agency is required with respect to the execution, delivery and performance by the Company of its obligations under this
Agreement, except for the filing of notices pursuant to Regulation D under the Act and any filing required by applicable state securities law, which filings will be effective by the time required thereby. 
 (d) Issued Securities. All issued and outstanding shares of Common Stock, Preferred Stock or any other securities of the Company have been duly
authorized and validly issued and are fully paid and nonassessable. All outstanding shares of Common Stock, Preferred Stock and any other securities were issued in full compliance with all federal and state securities laws. In addition, as of the
date immediately preceding the Effective Date: 
 (i) The authorized capital of the Company consists of (A) 85,000,000
shares of Common Stock, of which 3,278,375 shares are issued and outstanding and (B) 140,285,871 shares of Preferred Stock, of which (a) 1,995,411 shares are designated 

  

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Series A Preferred Stock, of which 1,969,010 shares are issued and outstanding and are convertible into 14,815,608 shares of Common Stock at $0.9941 per
share, (b) 27,886,160 shares are designated Series B Convertible Preferred Stock, including 14,648,570 shares which are further designated Series B-2 Convertible Preferred Stock, of which an aggregate of 25,446,430 shares are issued and
outstanding and are convertible into 39,390,212 shares of Common Stock at $0.56 per share, (c) 16,180,666 shares are designated Series C Convertible Preferred Stock, including 12,693,013 shares which are further designated Series C-2
Convertible Preferred Stock, of which an aggregate of 16,049,570 shares are issued and outstanding and are convertible into 20,696,713 shares of Common Stock at $0.7489 per share, (d) 6,123,619 shares are designated Series D Convertible
Preferred Stock, including 5,258,432 shares which are further designated Series D-2 Convertible Preferred Stock, of which an aggregate of 6,123,619 shares are issued and outstanding and are convertible into 9,919,088 shares of Common Stock at
$0.6423 per share, and (e) 55,500,000 shares are designated Series E Convertible Preferred Stock, of which an aggregate of 46,681,517 shares are issued and outstanding and are convertible into 46,681,517 shares of Common Stock at $0.2806 per
share. 
 (ii) The Company has reserved (A) 18,871,677 shares of Common Stock for issuance under its Stock Option
Plan(s), under which 14,026,686 options are outstanding, (B) 198,650 shares of Common Stock for issuance upon exercise and conversion of Warrants to purchase Series A Preferred Stock (C) 3,084,451 shares of Common Stock for issuance upon
exercise and conversion of Warrants to purchase Series B Convertible Preferred Stock and Series B-2 Convertible Preferred Stock, (D) 133,534 shares of Common Stock for issuance upon exercise and conversion of Series C Convertible Preferred
Stock and (E) 6,790,802 shares of Common Stock for issuance upon exercise and conversion of Series E Convertible Preferred Stock. There are no other options, warrants, conversion privileges or other rights presently outstanding to purchase or
otherwise acquire any authorized but unissued shares of the Company’s capital stock or other securities of the Company. The Company has no outstanding loans to any employee, officer or director of the Company, and the Company agrees not to
enter into any such loan or otherwise guarantee the payment of any loan made to an employee, officer or director by a third party. 
 (e)
Insurance. The Company has in full force and effect insurance policies, with extended coverage, insuring the Company and its property and business against such losses and risks, and in such amounts, as are customary for corporations engaged
in a similar business and similarly situated and as otherwise may be required pursuant to the terms of any other contract or agreement. 
 (f) Other Commitments to Register Securities. Except as set forth in this Agreement, the Charter and the Fourth Amended and Restated Registration Rights Agreement dated as of November 30, 2005, the Company is not, pursuant to
the terms of any other agreement currently in existence, under any obligation to register under the Act any of its presently outstanding securities or any of its securities which may hereafter be issued. 
 (g) Exempt Transaction. Subject to the accuracy of the Warrantholder’s representations in Section 10, the issuance of the Preferred
Stock upon exercise of this Agreement, and the issuance of the Common Stock upon conversion of the Preferred Stock, will each constitute a transaction exempt from (i) the registration requirements of Section 5 of the Act, in reliance upon
Section 4(2) thereof, and (ii) the qualification requirements of the applicable state securities laws. 
  

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 (h) Compliance with Rule 144. If the Warrantholder proposes to sell Preferred Stock issuable upon
the exercise of this Agreement, or the Common Stock into which it is convertible, in compliance with Rule 144 promulgated by the SEC, then, upon Warrantholder’s written request to the Company, the Company shall furnish to the Warrantholder,
within ten days after receipt of such request, a written statement confirming the Company’s compliance with the filing requirements of the SEC as set forth in such Rule, as such Rule may be amended from time to time. 
 (i) Information Rights. During the term of this Warrant, Warrantholder shall be entitled to the information rights contained in Section 7.1
of the Loan Agreement, and Section 7.1 of the Loan Agreement is hereby incorporated into this Agreement by this reference as though fully set forth herein, provided, however, that the Company shall not be required to deliver a Compliance
Certificate once all Indebtedness (as defined in the Loan Agreement) owed by the Company to Warrantholder as been repaid. 
 SECTION 10.
REPRESENTATIONS AND COVENANTS OF THE WARRANTHOLDER. 
 This Agreement has been entered into by the Company in reliance upon the following
representations and covenants of the Warrantholder: 
 (a) Investment Purpose. The right to acquire Preferred Stock or the Preferred
Stock issuable upon exercise of the Warrantholder’s rights contained herein will be acquired for investment and not with a view to the sale or distribution of any part thereof, and the Warrantholder has no present intention of selling or
engaging in any public distribution of the same except pursuant to a registration or exemption. 
 (b) Private Issue. The
Warrantholder understands (i) that the Preferred Stock issuable upon exercise of this Agreement is not registered under the Act or qualified under applicable state securities laws on the ground that the issuance contemplated by this Agreement
will be exempt from the registration and qualifications requirements thereof, and (ii) that the Company’s reliance on such exemption is predicated on the representations set forth in this Section 10. 
 (c) Financial Risk. The Warrantholder has such knowledge and experience in financial and business matters as to be capable of evaluating the
merits and risks of its investment, and has the ability to bear the economic risks of its investment. 
 (d) Risk of No Registration.
The Warrantholder understands that if the Company does not register with the SEC pursuant to Section 12 of the Securities Exchange Act of 1934 (the “1934 Act”), or file reports pursuant to Section 15(d) of the 1934 Act, or
if a registration statement covering the securities under the Act is not in effect when it desires to sell (i) the rights to purchase Preferred Stock pursuant to this Agreement or (ii) the Preferred Stock issuable upon exercise of the
right to purchase, it may be required to hold such securities for an indefinite period. The Warrantholder also understands that any sale of (A) its rights hereunder to purchase Preferred Stock or (B) Preferred Stock issued or issuable
hereunder which might be made by it in reliance upon Rule 144 under the Act may be made only in accordance with the terms and conditions of that Rule. 
 (e) Accredited Investor. Warrantholder is an “accredited investor” within the meaning of the Securities and Exchange Rule 501 of Regulation D, as presently in effect. 
 SECTION 11. TRANSFERS. 
 Subject to compliance with
applicable federal and state securities laws, this Agreement and all rights hereunder are transferable, in whole or in part, without charge to the holder hereof (except for transfer taxes) upon surrender of this Agreement properly endorsed. Each
taker and 

  

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holder of this Agreement, by taking or holding the same, consents and agrees that this Agreement, when endorsed in blank, shall be deemed negotiable, and
that the holder hereof, when this Agreement shall have been so endorsed and its transfer recorded on the Company’s books, shall be treated by the Company and all other persons dealing with this Agreement as the absolute owner hereof for any
purpose and as the person entitled to exercise the rights represented by this Agreement. The transfer of this Agreement shall be recorded on the books of the Company upon receipt by the Company of a notice of transfer in the form attached hereto as
Exhibit III (the “Transfer Notice”), at its principal offices and the payment to the Company of all transfer taxes and other governmental charges imposed on such transfer. Until the Company receives such Transfer Notice, the Company
may treat the registered owner hereof as the owner for all purposes. 
 SECTION 12. MISCELLANEOUS. 
 (a) Effective Date. The provisions of this Agreement shall be construed and shall be given effect in all respects as if it had been executed and
delivered by the Company on the date hereof. This Agreement shall be binding upon any successors or assigns of the Company. 
 (b)
Remedies. In the event of any default hereunder, the non-defaulting party may proceed to protect and enforce its rights either by suit in equity and/or by action at law, including but not limited to an action for damages as a result of any
such default, and/or an action for specific performance in accordance with Section 12(s). 
 (c) No Impairment of Rights. The
Company will not, by amendment of its Charter or through any other means, avoid or seek to avoid the observance or performance of any of the terms of this Agreement, but will at all times in good faith assist in the carrying out of all such terms
and in the taking of all such actions as may be necessary or appropriate in order to protect the rights of the Warrantholder against impairment. 
 (d) Additional Documents. The Company, upon execution of this Agreement, shall provide the Warrantholder with a certificate with respect to the representations, warranties and covenants set forth in Sections 9(a) through 9(d), 9(f)
and 9(g). The Company shall also supply such other documents as the Warrantholder may from time to time reasonably request. 
 (e)
Attorney’s Fees. In any litigation, arbitration or court proceeding between the Company and the Warrantholder relating hereto, the prevailing party shall be entitled to attorneys’ fees and expenses and all costs of proceedings
incurred in enforcing this Agreement. For the purposes of this Section 12(e), attorneys’ fees shall include without limitation fees incurred in connection with the following: (i) contempt proceedings; (ii) discovery;
(iii) any motion, proceeding or other activity of any kind in connection with an insolvency proceeding; (iv) garnishment, levy, and debtor and third party examinations; and (v) post-judgment motions and proceedings of any kind,
including without limitation any activity taken to collect or enforce any judgment. 
 (f) Severability. In the event any one or more
of the provisions of this Agreement shall for any reason be held invalid, illegal or unenforceable, the remaining provisions of this Agreement shall be unimpaired, and the invalid, illegal or unenforceable provision shall be replaced by a mutually
acceptable valid, legal and enforceable provision, which comes closest to the intention of the parties underlying the invalid, illegal or unenforceable provision. 
 (g) Notices. Except as otherwise provided herein, any notice, demand, request, consent, approval, declaration, service of process or other communication that is required, contemplated, or permitted under this
Agreement or with respect to the subject matter hereof shall be in writing, and shall be deemed to have been validly served, given, delivered, and received upon the earlier of: (i) the first business day after transmission by facsimile or hand
delivery or deposit with an 

  

 10 

 
overnight express service or overnight mail delivery service; or (ii) the third calendar day after deposit in the United States mails, with proper first
class postage prepaid, and shall be addressed to the party to be notified as follows: 
 If to Warrantholder: 
  

			
	 HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
 Legal Department
 Attention: Chief Legal Officer
 400
Hamilton Avenue, Suite 310
 Palo Alto, CA 94301
 Facsimile:
650-473-9194
 Telephone: 650-289-3060

 With a copy to: 
  

			
	 BINGHAM MCCUTCHEN
 Attn: John
Connolly
 Three Embarcadero Center
 San Francisco, CA
94111
 Facsimile: 415-393-2286
 Telephone:
415-393-2560

 If to the Company: 
 RUBICON TECHNOLOGY, INC. 
 Attention: President 
 9931 Franklin Avenue 
 Franklin Park,
Illinois 60131 
 Facsimile: 847-233-0177 
 Telephone: 847-295-7000 
 With a copy to: 
 Scott L. Glickson 
 McGuire Woods LLP

 77 W. Wacker Drive, Suite 4100 
 Chicago, Il 60601 
 Facsimile: 312 849-3690 
 Telephone: 312 321 7652 
 or to such other address as each party may designate for itself by like notice. 
 (h) Entire Agreement; Amendments. This Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the
subject matter hereof, and supersedes and replaces in their entirety any prior proposals, term sheets, letters, negotiations or other documents or agreements, whether written or oral, with respect to the subject matter hereof (including
Warrantholder’s proposal letter February 28, 2007). None of the terms of this Agreement may be amended except by an instrument executed by each of the parties hereto. 
 (i) Headings. The various headings in this Agreement are inserted for convenience only and shall not affect the meaning or interpretation of this
Agreement or any provisions hereof. 
  

 11 

 (j) Advice of Counsel. Each of the parties represents to each other party hereto that it has
discussed (or had an opportunity to discuss) with its counsel this Agreement and, specifically, the provisions of Sections 12(n), 12(o), 12(p) and 12(q). 
 (k) No Strict Construction. The parties hereto have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this
Agreement shall be construed as if drafted jointly by the parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provisions of this Agreement. 
 (l) No Waiver. No omission or delay by Warrantholder at any time to enforce any right or remedy reserved to it, or to require performance of any
of the terms, covenants or provisions hereof by the Company at any time designated, shall be a waiver of any such right or remedy to which Warrantholder is entitled, nor shall it in any way affect the right of Warrantholder to enforce such
provisions thereafter. 
 (m) Survival. All agreements, representations and warranties contained in this Agreement or in any document
delivered pursuant hereto shall be for the benefit of Warrantholder and shall survive the execution and delivery of this Agreement and the expiration or other termination of this Agreement. 
 (n) Governing Law. This Agreement has been negotiated and delivered to Warrantholder in the State of California, and shall have been accepted by
Warrantholder in the State of California. Delivery of Preferred Stock to Warrantholder by the Company under this Agreement is due in the State of California. This Agreement shall be governed by, and construed and enforced in accordance with, the
laws of the State of California, excluding conflict of laws principles that would cause the application of laws of any other jurisdiction. 
 (o) Consent to Jurisdiction and Venue. All judicial proceedings arising in or under or related to this Agreement may be brought in any state or federal court of competent jurisdiction located in the State of California. By execution
and delivery of this Agreement, each party hereto generally and unconditionally: (a) consents to personal jurisdiction in Santa Clara County, State of California; (b) waives any objection as to jurisdiction or venue in Santa Clara County,
State of California; (c) agrees not to assert any defense based on lack of jurisdiction or venue in the aforesaid courts; and (d) irrevocably agrees to be bound by any judgment rendered thereby in connection with this Agreement. Service of
process on any party hereto in any action arising out of or relating to this Agreement shall be effective if given in accordance with the requirements for notice set forth in Section 12(g), and shall be deemed effective and received as set
forth in Section 12(g). Nothing herein shall affect the right to serve process in any other manner permitted by law or shall limit the right of either party to bring proceedings in the courts of any other jurisdiction. 
 (p) Mutual Waiver of Jury Trial. Because disputes arising in connection with complex financial transactions are most quickly and economically
resolved by an experienced and expert person and the parties wish applicable state and federal laws to apply (rather than arbitration rules), the parties desire that their disputes be resolved by a judge applying such applicable laws. EACH OF THE
COMPANY AND WARRANTHOLDER SPECIFICALLY WAIVES ANY RIGHT IT MAY HAVE TO TRIAL BY JURY OF ANY CAUSE OF ACTION, CLAIM, CROSS-CLAIM, COUNTERCLAIM, THIRD PARTY CLAIM OR ANY OTHER CLAIM (COLLECTIVELY, “CLAIMS”) ASSERTED BY THE COMPANY AGAINST
WARRANTHOLDER OR ITS ASSIGNEE OR BY WARRANTHOLDER OR ITS ASSIGNEE AGAINST THE COMPANY. This waiver extends to all such Claims, including Claims that involve Persons other than the Company and Warrantholder; Claims that arise out of or are in any way
connected to the relationship between the Company and Warrantholder; and any Claims for damages, breach of contract, specific performance, or any equitable or legal relief of any kind, arising out of this Agreement. 
  

 12 

 (q) Judicial Reference. If the Mutual Waiver of Jury Trial set forth in Section 12(p) is
ineffective or unenforceable, the parties agree that all Claims shall be resolved by reference to a private judge sitting without a jury, pursuant to Code of Civil Procedure Section 638, before a mutually acceptable referee or, if the parties
cannot agree, a referee selected by the Presiding Judge of Santa Clara County, California. Such proceeding shall be conducted in Santa Clara County, California, with California rules of evidence and discovery applicable to such proceeding. In the
event Claims are to be resolved by judicial reference, either party may seek from a court identified in Section 12(o), any prejudgment order, writ or other relief and have such prejudgment order, writ or other relief enforced to the fullest
extent permitted by law notwithstanding that all Claims are otherwise subject to resolution by judicial reference. 
 (r)
Counterparts. This Agreement and any amendments, waivers, consents or supplements hereto may be executed in any number of counterparts, and by different parties hereto in separate counterparts, each of which when so delivered shall be deemed
an original, but all of which counterparts shall constitute but one and the same instrument. 
 (s) Specific Performance. The parties
hereto hereby declare that it is impossible to measure in money the damages which will accrue to Warrantholder by reason of the Company’s failure to perform any of the obligations under this Agreement and agree that the terms of this Agreement
shall be specifically enforceable by Warrrantholder. If Warrantholder institutes any action or proceeding to specifically enforce the provisions hereof, any person against whom such action or proceeding is brought hereby waives the claim or defense
therein that Warrantholder has an adequate remedy at law, and such person shall not offer in any such action or proceeding the claim or defense that such remedy at law exists. 
 [Remainder of Page Intentionally Left Blank] 
  

 13 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by its officers
thereunto duly authorized as of the Effective Date. 
  

					
	COMPANY:	  	RUBICON TECHNOLOGY, INC.
			
		  	By:	  	 /s/    Raja M. Parvez

			
		  	Title:	  	President
		
	WARRANTHOLDER:	  	HERCULES TECHNOLOGY GROWTH CAPITAL, INC.
			
		  	By:	  	 /s/    Scott Harney

			
		  	Title:	  	Chief Legal Officer

  

 14 

 EXHIBIT I 
 NOTICE OF EXERCISE 
  

	To:	Rubicon Technology, Inc. (the “Company”) 

  

	(1)	The undersigned Warrantholder hereby elects to purchase [            ] shares of the Series E Preferred Stock of
the Company, pursuant to the terms of that certain Warrant Agreement, dated as of April 9, 2007, between the Company and the Warrantholder (the “Agreement”), and [CASH PAYMENT: tenders herewith payment of the Purchase Price in full,
together with all applicable transfer taxes, if any.] [NET ISSUANCE: elects pursuant to Section 3(a) of the Agreement to effect a Net Issuance.] 

  

	(2)	In exercising its rights to purchase the Series E Preferred Stock of the Company, the undersigned, as representative for the Warrantholder, hereby confirms and acknowledges the
investment representations and warranties made in Section 10 of the Agreement and as a condition to the issuance of said shares, will execute and deliver a joinder agreement adopting and adding the Warrantholder as a party to the Third Amended
and Restated Stockholders Agreement dated as of June 28, 2005. 

  

	(3)	Please issue a certificate or certificates representing said shares of Series E Preferred Stock in the name of the Warrantholder or in such other name as is specified below.

  

					
	WARRANTHOLDER:	 	 HERCULES TECHNOLOGY GROWTH CAPITAL, INC.

			
		 	By:	  	  

			
		 	Name:	  	  

			
		 	Title:	  	  

			
		 	Date:	  	  

		
		 	 Address:   400 Hamilton Avenue, Suite 310
 Palo Alto, CA 94301
 Facsimile: 650-473-9194
 Telephone: 650-289-3060

  

 15 

 EXHIBIT II 
 ACKNOWLEDGMENT OF EXERCISE 
 The undersigned, as representative of Rubicon Technology, Inc. (the “Company”),
hereby acknowledges receipt of the “Notice of Exercise” from
                                        
(the “Warrantholder “), to purchase [            ] shares of the Series E Preferred Stock of the Company, pursuant to the terms of that certain Warrant Agreement, dated as
of April 9, 2007, between the Company and the Warrantholder (the “Agreement”), and further acknowledges that [            ] shares remain subject to purchase under the
terms of the Agreement. 
  

					
	 COMPANY:
	  	RUBICON TECHNOLOGY, INC.
			
		  	By:	  	  

			
		  	Title:	  	  

			
		  	Date:	  	  

  

 16 

 EXHIBIT III 
 TRANSFER NOTICE 
 FOR VALUE RECEIVED, that certain Warrant Agreement, dated as of April 9, 2007, between Rubicon Technology,
Inc. and Hercules Technology Growth Capital, Inc., as the Warrantholder (the “Agreement”), and all rights evidenced thereby are hereby transferred and assigned to 
  

			
	 (Please Print)
	 	 
	 whose address is  
	 	 
		
	 	 	 

  

					
		 	 Dated:
	 	  

			
		 	 Holder’s Signature:
	 	  

			
		 	 Holder’s Address:
	 	  

		
		 	  

		
	 Signature Guaranteed:
	 	  

 NOTE: The signature to this Transfer Notice must correspond with the name as it appears on the face of the
Agreement, without alteration or enlargement or any change whatever. Officers of corporations and those acting in a fiduciary or other representative capacity should file proper evidence of authority to assign the foregoing Agreement. 
  

 17Rubicon Technology, Inc 2001 Equity Plan

 Exhibit 10.1 
 RUBICON TECHNOLOGY, INC. 
 2001 EQUITY PLAN 
 1. Purposes of the Plan. The purposes of this 2001 Equity Plan are: 
  

	 	•	 	 to assist the Company to attract and retain the best available personnel for positions of substantial responsibility; 

  

	 	•	 	 to provide additional incentive to Employees, Directors and Consultants; and 

  

	 	•	 	 to promote the success of the Company’s business. 

 Options granted under the Plan may be Incentive Stock Options or Non-qualified Stock Options, as determined by the Administrator at the time of grant. Stock Purchase Rights may also be granted under the Plan.

 2. Definitions. As used herein, the following definitions shall apply: 
 (a) “Administrator” means the Board or any of its Committees, or any delegee of the Board or any such Committee, as shall be
administering the Plan, in accordance with Section 4 of the Plan. 
 (b) “Applicable Laws” means the requirements
relating to the administration of stock option plans under U. S. state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is listed or quoted and the applicable laws of
any foreign country or jurisdiction where Options or Stock Purchase Rights are, or will be, granted under the Plan. 
 (c)
“Board” means the Board of Directors of the Company. 
 (d) “Code” means the Internal Revenue Code of 1986,
as amended, and the Treasury Regulations promulgated thereunder. 
 (e) “Committee” means a committee of Directors appointed
by the Board in accordance with Section 4 of the Plan. 
 (f) “Common Stock” means the Common Stock, $0.001 par value
per share, of the Company. 
 (g) “Company” means Rubicon Technology, Inc., a Delaware corporation. 
 (h) “Consultant” means any person, including an advisor, other than an Employee or Director, engaged by the Company or a Parent or
Subsidiary of the Company to render services to such entity. 
 (i) “Director” means a member of the Board. 

					
	RUBICON TECHNOLOGY, INC.	  	-1-	  	2001 EQUITY PLAN

 (j) “Disability” means permanent and total disability as defined in
Section 22(e)(3) of the Code. 
 (k) “Employee” means any person, including Officers and Directors in their capacity as
employees, employed by the Company or any Parent or Subsidiary of the Company. An Employee shall not cease to be an Employee for purposes of this Plan in the case of (i) any leave of absence approved by the Company or (ii) transfers
between locations of the Company or between the Company, its Parent, any of its Subsidiaries, or any successor. For purposes of Incentive Stock Options, no such leave may exceed ninety (90) days, unless reemployment upon expiration of such
leave is guaranteed by statute or contract. If reemployment upon expiration of a leave of absence approved by the Company is not so guaranteed, on the one hundred eighty-first (181st) day of such leave any Incentive Stock Option held by the
Optionee shall cease to be treated as an Incentive Stock Option and shall be treated for tax purposes as a Non-qualified Stock Option. Neither service as a Director nor payment of a director’s fee by the Company shall be sufficient to
constitute “employment” by the Company. 
 (l) “Exchange Act” means the Securities Exchange Act of 1934, as
amended, and the regulations promulgated thereunder. 
 (m) “Fair Market Value” means, as of any date, the value of Common
Stock determined as follows: 
 (i) If the Common Stock is listed on any established stock exchange or a national market system, including
without limitation the Nasdaq National Market or The Nasdaq SmallCap Market of The Nasdaq Stock Market, its Fair Market Value shall be the closing sales price for such stock (or the closing bid, if no sales were reported) as quoted on such exchange
or system for the last market trading day prior to the day of determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; 
 (ii) If the Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, the Fair Market Value of a Share
shall be the mean between the high bid and low asked prices for the Common Stock on the last market trading day prior to the day of determination, as reported in The Wall Street Journal or such other source as the Administrator deems
reliable; or 
 (iii) In the absence of an established market for the Common Stock, the Fair Market Value shall be determined in good faith
by the Administrator, consistent with past practices. 
 (n) “Incentive Stock Option” means an Option intended to qualify as
an incentive stock option within the meaning of Section 422 of the Code. 
 (o) “Non-qualified Stock Option” means an
Option not intended to qualify as an Incentive Stock Option. 
 (p) “Notice of Grant” means a written or electronic notice
evidencing certain terms and conditions of an individual Option or Stock Purchase Right grant. The Notice of Grant is part of the Option Agreement or the Restricted Stock Purchase Agreement, as applicable. 

					
	RUBICON TECHNOLOGY, INC.	  	-2-	  	2001 EQUITY PLAN

 (q) “Officer” means a person who is an officer of the Company within the meaning of
Section 16 of the Exchange Act and the rules and regulations promulgated thereunder. 
 (r) “Option” means a stock
option granted pursuant to the Plan. 
 (s) “Option Agreement” means an agreement between the Company and an Optionee
evidencing the terms and conditions of an individual Option grant. The Option Agreement is subject to the terms and conditions of the Plan and the Notice of Grant. 
 (t) “Option Exchange Program” means a program whereby outstanding Options are surrendered in exchange for Options with a lower exercise price. 
 (u) “Optioned Stock” means the Common Stock subject to an Option or Stock Purchase Right. 
 (v) “Optionee” means the holder of an outstanding Option or Stock Purchase Right granted under the Plan. 
 (w) “Parent” means a “parent corporation,” whether now or hereafter existing, as defined in Section 424(e) of the Code.

 (x) “Plan” means this 2001 Equity Plan. 
 (y) “Restricted Stock” means shares of Common Stock acquired pursuant to a grant of Stock Purchase Rights under Section 11 of the Plan. 
 (z) “Restricted Stock Purchase Agreement” means a written agreement between the Company and the Optionee evidencing the terms and
restrictions applying to stock purchased under a Stock Purchase Right. The Restricted Stock Purchase Agreement is subject to the terms and conditions of the Plan and the Notice of Grant. 
 (aa) “Rule 16b-3” means Rule 16b-3 of the Exchange Act or any successor to Rule 16b-3, as in effect when discretion is being exercised
with respect to the Plan. 
 (bb) “Securities Act” means the Securities Act of 1933, as amended, and the regulations
promulgated thereunder. 
 (cc) “Service Provider” means an Employee, Director or Consultant. 
 (dd) “Share” means a share of the Common Stock, as adjusted in accordance with Section 13 of the Plan. 
 (ee) “Stock Purchase Right” means the right to purchase Common Stock pursuant to Section 11 of the Plan, as evidenced by a Notice
of Grant. 
 (ff) “Subsidiary” means a “subsidiary corporation,” whether now or hereafter existing, as defined in
Section 424(f) of the Code. 

					
	RUBICON TECHNOLOGY, INC.	  	-3-	  	2001 EQUITY PLAN

 3. Stock Subject to the Plan. Subject to the provisions of Section 13 of the Plan, the maximum number of
Shares which may be optioned or sold under the Plan is five hundred three thousand three hundred eighty-four (503,384) Shares. If an Option or Stock Purchase Right expires or becomes unexercisable without having been exercised in full, or is
surrendered pursuant to an Option Exchange Program, the unpurchased Shares which were subject thereto shall become available for future grant or sale under the Plan (unless the Plan has terminated); provided, however, that Shares that
have actually been issued under the Plan, whether upon exercise of an Option or Stock Purchase Right, shall not be returned to the Plan and shall not become available for future distribution under the Plan, except that if Shares that have been
issued pursuant to Options or Shares of Restricted Stock, are repurchased by the Company, such Shares shall become available for future grant under the Plan. 
 4. Administration of the Plan. 
 (a) Procedure. 
 (i) Multiple Administrative Bodies. The Plan may be administered by different Committees with respect to different groups of Service Providers.

 (ii) Section 162(m). To the extent that the Administrator determines it to be desirable to qualify Options granted hereunder
as “performance-based compensation” within the meaning of Section 162(m) of the Code, the Plan shall be administered by a Committee of two or more “outside directors” within the meaning of Section 162(m) of the Code.

 (iii) Rule 16b-3. To the extent desirable to qualify transactions hereunder as exempt under Rule 16b-3, the transactions
contemplated hereunder shall be structured to satisfy the requirements for exemption under Rule 16b-3. 
 (iv) Other Administration.
Other than as provided above, the Plan shall be administered by an Administrator, in accordance with Applicable Laws. 
 (b) Powers of the
Administrator. Subject to the provisions of the Plan, and in the case of a Committee, subject to the specific duties delegated by the Board to such Committee, the Administrator shall have the authority, in its discretion: 
 (i) to determine the Fair Market Value; 
 (ii) to select the Service Providers to whom Options and Stock Purchase Rights may be granted hereunder; 
 (iii) to determine the
number of Shares to be covered by each Option and Stock Purchase Right granted hereunder; 
 (iv) to approve forms of agreement for use under
the Plan; 
 (v) to determine the terms and conditions, not inconsistent with the terms of the Plan, of any Option or Stock Purchase Right
granted hereunder. Such terms and conditions include, but are not limited to, the exercise price, the time or times when Options or Stock 

					
	RUBICON TECHNOLOGY, INC.	  	-4-	  	2001 EQUITY PLAN

 
Purchase Rights may be exercised (which may be based on performance criteria), any vesting acceleration or waiver of forfeiture restrictions, and any
restriction or limitation regarding any Option or Stock Purchase Right or the Shares relating thereto, based in each case on such factors as the Administrator, in its sole discretion, shall determine; 
 (vi) to reduce the exercise price of any Option or Stock Purchase Right to the then current Fair Market Value if the Fair Market Value of the Common
Stock covered by such Option or Stock Purchase Right shall have declined since the date the Option or Stock Purchase Right was granted; 
 (vii) to provide for the repurchase of the Optionee’s Optioned Stock in the event the Optionee ceases to be a Service Provider; 
 (viii) to impose market stand off restrictions on Optionees for periods after the effective date of a registration statement filed under the Securities Act in connection with the Company’s underwritten public offering of its equity
securities; 
 (ix) to require an Optionee, as a condition precedent to the exercise by an Optionee of an Option or Stock Purchase Right, to
agree to be bound by the terms and conditions of a stockholders’ agreement, including but not limited to, that certain Stockholders’ Agreement dated as of February 16, 2001, by and between the Company and the Stockholders of the
Company (as defined therein); 
 (x) to institute an Option Exchange Program; 
 (xi) to construe and interpret the terms of the Plan and awards granted pursuant to the Plan; 
 (xii) to prescribe, amend and rescind rules and regulations relating to the Plan, including rules and regulations relating to sub-plans established for
the purpose of qualifying for preferred tax treatment under foreign tax laws; 
 (xiii) to modify or amend each Option or Stock Purchase
Right (subject to Section 15(c) of the Plan), including the discretionary authority to extend the post-termination exercisability period of Options longer than is otherwise provided for in the Plan; 
 (xiv) to make such provisions and to take such steps as it may deem necessary or appropriate for the withholding of any taxes which the Company is
required by any law or regulation of any governmental authority, whether federal, state or local, domestic or foreign, to withhold in connection with any Option or Stock Purchase Right, including, but not limited to, the withholding of the issuance
of all or any portion of the Shares subject to the Option or the Stock Purchase Right until the Optionee reimburses the Company for the amount required to be withheld with respect to such taxes, canceling any portion of the issuance of the Shares
subject to an Option in an amount sufficient to reimburse the Company for such amount, deducting from the Optionee’s compensation an amount sufficient to reimburse the Company for such amount, or taking any other action reasonably required to
satisfy the withholding obligation of the Company; 

					
	RUBICON TECHNOLOGY, INC.	  	-5-	  	2001 EQUITY PLAN

 (xv) to allow Optionees to satisfy withholding tax obligations by electing to have the Company withhold
from the Shares to be issued upon exercise of an Option or Stock Purchase Right that number of Shares having a Fair Market Value equal to the amount required to be withheld. The Fair Market Value of the Shares to be withheld shall be determined on
the date that the amount of tax to be withheld is to be determined. All elections by an Optionee to have Shares withheld for this purpose shall be made in such form and under such conditions as the Administrator may deem necessary or advisable;

 (xvi) to authorize any person to execute on behalf of the Company any instrument required to effect the grant of an Option or Stock
Purchase Right previously granted by the Administrator; 
 (xvii) to make all other determinations deemed necessary or advisable for
administering the Plan. 
 (c) Effect of Administrator’s Decision. The Administrator’s decisions, determinations and
interpretations shall be final and binding on all Optionees and any other holders of Options or Stock Purchase Rights. 
 5. Eligibility.
Non-qualified Stock Options and Stock Purchase Rights may be granted to Service Providers. Incentive Stock Options may be granted only to Employees. 
 6.
Limitations. 
 (a) Each Option shall be designated in the Option Agreement as either an Incentive Stock Option or a Non-qualified
Stock Option. To the extent that the aggregate Fair Market Value of the Shares with respect to which Incentive Stock Options are exercisable for the first time by the Optionee during any calendar year (under all plans of the Company and any Parent
or Subsidiary of the Company) exceeds the limit set forth in Section 422(d) of the Code, such Options shall be treated as Non-qualified Stock Options. For purposes of this Section 6(a) of the Plan, Incentive Stock Options shall be taken
into account in the order in which they were granted. The Fair Market Value of the Shares shall be determined as of the time the Option with respect to such Shares is granted. 
 (b) Neither the Plan nor any Option or Stock Purchase Right shall confer upon an Optionee any right with respect to continuing the Optionee’s
relationship as a Service Provider with the Company, nor shall an Option or Stock Purchase Right interfere in any way with the Optionee’s right or the Company’s right to terminate such relationship. 
 (c) The Administrator may impose limitations on the number of Options granted to a Service Provider in any fiscal year of the Company. Any limitations
established pursuant to the preceding sentence shall be adjusted proportionately in connection with any change in the Company’s capitalization as described in Section 13 of the Plan. If an Option is cancelled in the same fiscal year of the
Company in which it was granted (other than in connection with a transaction described in Section 13 of the Plan), the cancelled Option will be counted against the limits established pursuant to the first sentence of this paragraph. For this
purpose, if the exercise price of an Option is reduced, the transaction will be treated as a cancellation of the Option and the grant of a new Option. 

					
	RUBICON TECHNOLOGY, INC.	  	-6-	  	2001 EQUITY PLAN

 7. Term of Plan. Subject to Section 19 of the Plan, the Plan shall become effective upon its adoption by the
Board. It shall continue in effect for a term of ten (10) years unless terminated earlier under Section 15 of the Plan. 
 8. Term of
Option. The term of each Option shall be stated in the Option Agreement. In the case of an Incentive Stock Option, the term shall be ten (10) years from the date of grant or such shorter term as may be provided in the Option Agreement.
Moreover, in the case of an Incentive Stock Option granted to an Optionee who, at the time the Incentive Stock Option is granted, owns stock representing 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, the term of the Incentive Stock Option shall be five (5) years from the date of grant or such shorter term as may be provided in the Option Agreement. 
 9. Option Exercise Price and Consideration. 
 (a)
Exercise Price. The per Share exercise price for the Shares to be issued pursuant to exercise of an Option shall be no less than the par value, if any, per Share and otherwise as determined by the Administrator, subject to the following:

 (i) In the case of an Incentive Stock Option 
 (A) granted to an Employee who, at the time the Incentive Stock Option is granted, owns stock representing more than ten percent (10%) of the voting power of all classes of stock of the Company or any Parent or
Subsidiary of the Company, the per Share exercise price shall be no less than 110% of the Fair Market Value per Share on the date of grant. 
 (B) granted to any Employee other than an Employee described in paragraph (A) immediately above, the per Share exercise price shall be no less than 100% of the Fair Market Value per Share on the date of grant. 
 (ii) In the case of a Non-qualified Stock Option, the per Share exercise price shall be determined by the Administrator. In the case of a Non-qualified
Stock Option intended to qualify as “performance-based compensation” within the meaning of Section 162(m) of the Code, the per Share exercise price shall be no less than 100% of the Fair Market Value per Share on the date of grant.

 (iii) Notwithstanding the foregoing, to the extent allowable pursuant to Applicable Laws, Options may be granted with a per Share exercise
price of less than 100% of the Fair Market Value per Share on the date of grant pursuant to a merger or other corporate transaction. 
 (b)
Waiting Period and Exercise Dates. At the time an Option is granted, the Administrator shall fix the period within which the Option may be exercised and shall determine any conditions which must be satisfied before the Option may be
exercised. 
 (c) Form of Consideration. The Administrator shall determine the acceptable form of consideration for exercising an
Option, including the method of payment. In the case of an Incentive Stock Option, the Administrator shall determine the acceptable form of consideration at the time of grant. Such consideration may consist entirely of: 
 (i) cash; 
 (ii) check; 
 (iii) promissory note; 

					
	RUBICON TECHNOLOGY, INC.	  	-7-	  	2001 EQUITY PLAN

 (iv) other Shares which (A) in the case of Shares acquired upon exercise of an Option, have been
owned by the Optionee for more than one (1) year on the date of surrender, and (B) have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which said Option shall be exercised;

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

 (vi) a reduction in the amount of any Company liability to the Optionee, including any liability attributable to the Optionee’s
participation in any Company-sponsored deferred compensation program or arrangement; 
 (vii) any combination of the foregoing methods of
payment; or 
 (viii) such other consideration and method of payment for the issuance of Shares to the extent permitted by Applicable Laws.

 10. Exercise of Option. 
 (a)
Procedure for Exercise; Rights as a Stockholder. Any Option granted hereunder shall be exercisable according to the terms of the Plan and at such times and under such conditions as determined by the Administrator and set forth in the Option
Agreement. Unless the Administrator provides otherwise, vesting of Options granted hereunder shall be tolled during any unpaid leave of absence. An Option may not be exercised for a fraction of a Share. 
 Unless otherwise provided in an Option Agreement, an Option shall be deemed exercised when the Company receives: (i) written or electronic notice of
exercise (in accordance with the Option Agreement) from the person entitled to exercise the Option, and (ii) full payment for the Shares with respect to which the Option is exercised. Full payment may consist of any consideration and method of
payment authorized by the Administrator and permitted by the Option Agreement and the Plan. Shares issued upon exercise of an Option shall be issued in the name of the Optionee or, if requested by the Optionee, in the name of the Optionee and his or
her spouse. Until the Shares are issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any other rights as a stockholder shall exist
with respect to the Optioned Stock, notwithstanding the exercise of the Option. The Company shall issue (or cause to be issued) such Shares promptly after the Option is exercised. No adjustment will be made for a dividend or other right for which
the record date is prior to the date the Shares are issued, except as provided in Section 13 of the Plan. 

					
	RUBICON TECHNOLOGY, INC.	  	-8-	  	2001 EQUITY PLAN

 Exercising an Option in any manner shall decrease the number of Shares thereafter available, both for
purposes of the Plan and for sale under the Option, by the number of Shares as to which the Option is exercised. 
 (b) Termination of
Relationship as a Service Provider. If an Optionee ceases to be a Service Provider, other than upon the Optionee’s death or Disability, the Optionee may exercise his or her Option within such period of time as is specified in the Option
Agreement to the extent that the Option is vested on the date of termination (but in no event later than the expiration of the term of such Option as set forth in the Option Agreement). In the absence of a specified time in the Option Agreement, the
Option shall remain exercisable for three (3) months following the Optionee’s termination. If, on the date of termination, the Optionee is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option
shall revert to the Plan. If, after termination, the Optionee does not exercise his or her Option within the time specified by the Administrator, the Option shall terminate, and the Shares covered by such Option shall revert to the Plan. 

(c) Disability of Optionee. If an Optionee ceases to be a Service Provider as a result of the Optionee’s Disability, the Optionee may
exercise his or her Option within such period of time as is specified in the Option Agreement to the extent the Option is vested on the date of termination (but in no event later than the expiration of the term of such Option as set forth in the
Option Agreement). In the absence of a specified time in the Option Agreement, the Option shall remain exercisable for one (1) year following the Optionee’s termination. If, on the date of termination, the Optionee is not vested as to his
or her entire Option, the Shares covered by the unvested portion of the Option shall revert to the Plan. If, after termination, the Optionee does not exercise his or her Option within the time specified herein, the Option shall terminate, and the
Shares covered by such Option shall revert to the Plan. 
 (d) Death of Optionee. If an Optionee dies while a Service Provider, the
Option may be exercised within such period of time as is specified in the Option Agreement (but in no event later than the expiration of the term of such Option as set forth in the Option Agreement), by the Optionee’s estate or by a person who
acquires the right to exercise the Option by bequest or inheritance, but only to the extent that the Option is vested on the date of death. In the absence of a specified time in the Option Agreement, the Option shall remain exercisable for one
(1) year following the Optionee’s death. If, at the time of death, the Optionee is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option shall immediately revert to the Plan. The Option may be
exercised by the executor or administrator of the Optionee’s estate or, if none, by the person(s) entitled to exercise the Option under the Optionee’s will or the laws of descent or distribution. If the Option is not so exercised within
the time specified herein, the Option shall terminate, and the Shares covered by such Option shall revert to the Plan. 
 (e) Buyout
Provisions. The Administrator may at any time offer to buy out for a payment in cash or Shares an Option previously granted based on such terms and conditions as the Administrator shall establish and communicate to the Optionee at the time that
such offer is made. 

					
	RUBICON TECHNOLOGY, INC.	  	-9-	  	2001 EQUITY PLAN

 11. Stock Purchase Rights. 
 (a) Rights to Purchase. Stock Purchase Rights may be issued either alone, in addition to, or in tandem with other awards granted under the Plan and/or non-stock awards made outside of the Plan. After the
Administrator determines that it will offer Stock Purchase Rights under the Plan, it shall advise the offeree in writing or electronically, by means of a Notice of Grant, of the terms, conditions and restrictions related to the offer, including the
number of Shares that the Service Provider shall be entitled to purchase, the price to be paid, if any, and the time within which the offeree must accept such offer. The offer shall be accepted by execution of a Restricted Stock Purchase Agreement
in the form determined by the Administrator. 
 (b) Repurchase Option. Unless the Administrator determines otherwise, the Restricted
Stock Purchase Agreement shall grant the Company a repurchase option exercisable upon the voluntary or involuntary termination of the Service Provider’s service with the Company for any reason (including death or Disability). The terms and
conditions of such repurchase option shall be determined by the Administrator. 
 (c) Other Provisions. The Restricted Stock Purchase
Agreement shall contain such other terms, provisions and conditions not inconsistent with the Plan as may be determined by the Administrator. 
 (d) Rights as a Stockholder. Except as otherwise set forth in a Restricted Stock Purchase Agreement, once the Stock Purchase Right is exercised, the purchaser shall have the rights equivalent to those of a stockholder, and shall be a
stockholder when his or her purchase is entered upon the records of the duly authorized transfer agent of the Company. No adjustment will be made for a dividend or other right for which the record date is prior to the date the Stock Purchase Right
is exercised, except as provided in Section 13 of the Plan. 
 12. Non-Transferability of Options and Stock Purchase Rights. Unless determined
otherwise by the Administrator, an Option or Stock Purchase Right may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent or distribution and may be exercised, during
the lifetime of the Optionee, only by the Optionee. If the Administrator makes an Option or Stock Purchase Right transferable, such Option or Stock Purchase Right shall contain such additional terms and conditions as the Administrator deems
appropriate. 
 13. Adjustments Upon Changes in Capitalization, Dissolution, Merger or Asset Sale. 
 (a) Changes in Capitalization. Subject to any required action by the stockholders of the Company, the number of Shares covered by each outstanding
Option and Stock Purchase Right, and the number of Shares which have been authorized for issuance under the Plan but as to which no Options or Stock Purchase Rights have yet been granted or which have been returned to the Plan upon cancellation or
expiration of an Option or Stock Purchase Right, as well as the price per Share covered by each such outstanding Option or Stock Purchase Right, shall be proportionately adjusted for any increase or decrease in the number of issued Shares resulting
from a stock split, reverse stock split, stock dividend, combination or reclassification of the Common Stock, or any other increase or decrease in the number of issued Shares effected 

					
	RUBICON TECHNOLOGY, INC.	  	-10-	  	2001 EQUITY PLAN

 
without receipt of consideration by the Company; provided, however, that conversion of any convertible securities of the Company shall not be
deemed to have been “effected without receipt of consideration.” Such adjustment shall be made by the Board, whose determination in that respect shall be final, binding and conclusive. 
 (b) Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of the Company, the Administrator shall notify each
Optionee as soon as practicable prior to the effective date of such proposed transaction. The Administrator in its discretion may provide for an Optionee to have the right to exercise his or her Option until ten (10) days prior to such
transaction as to all of the Optioned Stock covered thereby, including Shares as to which the Option would not otherwise be exercisable. In addition, the Administrator may provide that any Company repurchase option applicable to any Shares purchased
upon exercise of an Option or Stock Purchase Right shall lapse as to all such Shares, provided the proposed dissolution or liquidation takes place at the time and in the manner contemplated. To the extent it has not been previously exercised, an
Option or Stock Purchase Right will terminate immediately prior to the consummation of such proposed action. 
 (c) Merger, Reorganization
or Sale. In the event of any merger, consolidation, or similar reorganization of the Company with any other entity pursuant to which the holders of Shares surrender Shares (or the Shares are deemed converted) in exchange for other shares of
capital stock or securities of the Company or another entity or the sale of substantially all of the assets of the Company, if each outstanding Option and Stock Purchase Right is not assumed or an equivalent option or right is not substituted by the
successor corporation or a Parent or Subsidiary of the successor corporation, then the Optionee shall fully vest in and have the right to exercise the Option or Stock Purchase Right as to all of the Optioned Stock, including Shares as to which it
would not otherwise be vested or exercisable. If an Option or Stock Purchase Right becomes fully vested and exercisable in lieu of assumption or substitution in the event of a merger or sale of assets, the Administrator shall notify the Optionee in
writing or electronically that the Option or Stock Purchase Right shall be fully vested and exercisable for a period of fifteen (15) days from the date of such notice, and the Option or Stock Purchase Right shall terminate upon the expiration
of such period. For the purposes of this paragraph, the determination of whether the Option or Stock Purchase Right has been assumed or substituted shall be made by the Board, whose determination in that respect shall be final, binding and
conclusive. 
 (d) Reservation of Rights. Except as provided in this Section 13 of the Plan, an Optionee shall have no rights by
reason of (i) any subdivision or consolidation of shares of stock of any class, (ii) the payment of any dividend, or (iii) any other increase or decrease in the number of shares of stock of any class. Any issuance by the Company of
shares of stock of any class, or securities convertible into shares of stock of any class, shall not affect, and no adjustment by reason thereof shall be made with respect to, the number or exercise price of Shares subject to an Option or Stock
Purchase Right. The grant of an Option or Stock Purchase Right pursuant to the Plan shall not affect in any way the right or power of the Company to make adjustments, reclassifications, reorganizations or changes of its capital or business
structure, to merge or consolidate or to dissolve, liquidate, sell or transfer all or any part of its business or assets. 

					
	RUBICON TECHNOLOGY, INC.	  	-11-	  	2001 EQUITY PLAN

 14. Date of Grant. The date of grant of an Option or Stock Purchase Right shall be, for all purposes, the date on
which the Administrator makes the determination granting such Option or Stock Purchase Right, or such other later date as is determined by the Administrator. Notice of the determination shall be provided to each Optionee within a reasonable time
after the date of such grant. 
 15. Amendment and Termination of the Plan. 
 (a) Amendment and Termination. The Board may at any time amend, alter, suspend or terminate the Plan. 
 (b) Stockholder Approval. The Company shall obtain stockholder approval of any Plan amendment to the extent necessary to comply with Applicable
Laws. 
 (c) Effect of Amendment or Termination. No amendment, alteration, suspension or termination of the Plan shall impair the
rights of any Optionee, unless mutually agreed otherwise between the Optionee and the Administrator, which agreement must be in writing and signed by the Optionee and the Company. Termination of the Plan shall not affect the Administrator’s
ability to exercise the powers granted to it hereunder with respect to Options granted under the Plan prior to the date of such termination. 
 16.
Conditions Upon Issuance of Shares. 
 (a) Legal Compliance. Shares shall not be issued pursuant to the exercise of an Option or
Stock Purchase Right unless the exercise of such Option or Stock Purchase Right and the issuance and delivery of such Shares shall comply with Applicable Laws and shall be further subject to the approval of counsel for the Company with respect to
such compliance. Under no circumstances shall the Company be obligated to effect or maintain any registration under the Securities Act or other similar Applicable Laws. 
 (b) Investment Representations. As a condition to the exercise of an Option or Stock Purchase Right, the Company may require the person exercising such Option or Stock Purchase Right to represent and warrant at
the time of any such exercise that the Shares are being purchased only for investment and without any present intention to sell or distribute such Shares if, in the opinion of counsel for the Company, such a representation is required. 

17. Inability to Obtain Authority. The inability or failure of the Company to obtain authority from any regulatory body having jurisdiction (including, without
limitation, effectiveness of a registration statement under the Securities Act), which authority is deemed by the Company’s counsel to be necessary to the lawful granting of Options or issuance and sale of any Shares pursuant to the exercise of
an Option or Stock Purchase Right, shall not subject the Company to, and shall relieve the Company of, any liability in respect of the failure to grant such Option or issue or sell such Shares as to which such requisite authority shall not have been
obtained. 
 18. Reservation of Shares. The Company, during the term of this Plan, will at all times reserve and keep available such number of Shares
as shall be sufficient to satisfy the requirements of the Plan. 

					
	RUBICON TECHNOLOGY, INC.	  	-12-	  	2001 EQUITY PLAN

 19. Stockholder Approval. The Plan shall be subject to approval by the stockholders of the Company within twelve
(12) months after the date the Plan is adopted by the Board in the manner and to the degree required under Applicable Laws. 
 The 2001 Equity Plan was
approved by the Board of Directors of the Company as of August 2, 2001 and by the stockholders of the Company as of August 2, 2001. 

					
	RUBICON TECHNOLOGY, INC.	  	-13-	  	2001 EQUITY PLAN

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