Document:

Consulting Agreement

 Exhibit 10.24 
 CONSULTING AGREEMENT 
 THIS CONSULTING AGREEMENT, dated as of this March 17, 2006
(“Effective Date”), is made by and between California Micro Devices Corporation, a California corporation (hereinafter “Company”), and Kevin Berry (hereinafter “Consultant”). 
 1. Independent Contractor. This Agreement does not establish an employer-employee relationship with Company. Consultant is for all purposes an
independent contractor. Consultant will not be entitled to any benefits available to Company employees including, but not limited to, medical, unemployment, vacation and pension benefits. Consultant instructs Company not to withhold any taxes as
Consultant shall be responsible for paying all employment-related taxes and providing all benefits to himself pursuant to the requirements of applicable local, state and federal regulation, including Federal and California income tax, social
security, medicare and SDI. Consultant provides CFO services for other companies and currently has one other assignment. 
 2. Duties.
Consultant will provide the services described in the Statement of Work attached as Exhibit A hereto himself. Consultant agrees to devote adequate time to rendering the services for Company in order to complete them in a timely and
professional manner. Consultant understands that Consultant is expected to make the certifications of a CFO required by the SEC as part of a Form 10-K annual report. 
 3. Term. The initial term of this Agreement shall commence on the Effective Date set forth above and shall expire on June 17, 2006, unless earlier terminated pursuant to the terms of this Agreement.

 4. Compensation. As compensation for services actually rendered to Company by Consultant, Company shall pay Consultant per Exhibit
B Consultant shall invoice Company for fees under this Agreement. All invoices shall be due within 15 days of receipt. 
 5. Reimbursement
for Expenses. Certain expenses may be identified in the Statement of Work as chargeable to Company. When chargeable expenses have been identified in a Statement of Work, the Consultant may obtain reimbursement of such expenses by submitting
expense reports with receipts or such other documentation as may be required under Company’s policies or under the terms of this agreement. All other expenses incurred by Consultant in connection with providing services under this Agreement,
shall be the sole responsibility of Consultant. 
 6. Ownership of Work Product. All records, databases, forms, summaries,
information, data, computer programs and other material originated or prepared by Company and delivered to Consultant for use in the performance of the services hereunder (the “Company Materials”) shall remain the exclusive property of
Company, and Consultant shall acquire no right, title or interest in an to any such Company Materials. Consultant shall not disclose such Company Materials to third parties without the prior written consent of Company and shall return all copies of
Company Materials to Company promptly upon completion of the services or upon Company’s prior request. This specifically includes any third party licensed intellectual property, that the Company may disclose to the Consultant. 
 Consultant acknowledges and agrees that all worldwide right, title and interest in and to any and all work product, works of authorship (including but not limited to
computer programs, software, 

 logic design, and documentation), trademarks, methods of doing business, sound recordings, pictorial reproductions,
drawings, graphic representations, deliverables, improvements, innovations, discoveries and inventions conceived, made or reduced to practice while performing services under this Agreement (collectively, the “Work Product”) shall be the
sole property of Company. Consultant hereby agrees to assign, and does hereby assign, to Company all worldwide right, title and interest in and to the Work Product, including, without limitation, all patent rights, trademarks, service marks,
copyrights, trade secret rights and other proprietary rights (collectively “Intellectual Property”). During and after the term of this Agreement, Consultant shall, upon Company’s request, execute additional documentation confirming
Company’s sole ownership of the Work Product and its underlying Intellectual Property; to the extent Consultant does not do so, Consultant hereby authorizes officers of Company to sign such documents on Consultant’s behalf. 
 To the extent that Consultant has intellectual property rights of any kind in any pre-existing works which are subsequently incorporated in any Deliverable Materials or
Work Product produced in rendering services under this Agreement, Consultant hereby grants Company a royalty-free, irrevocable, world-wide, perpetual, non-exclusive license (with the right to sublicense) to make, have made, copy, modify, make
derivative works of, use, sell, license, disclose, publish, or otherwise disseminate or transfer such subject matter. 
 All decisions with respect to the
time, manner, form and extent of publication or other use or exploitation of the Deliverable Materials or Work Product shall rest exclusively with Company. 
 7. Confidentiality. As used in this Agreement, the term “Confidential Information” refers to any and all information relating to Company that Consultant acquires as a direct or indirect result of
Consultant’s activities under this Agreement, including but not limited to, products, research and development, billing and account data, customer lists, business information, technical information, computer programs and systems, secrets,
specifications, drawings, sketches, models, samples, tools, records, information pertaining to Company’s software and hardware systems, inventions, mask works, trade secrets, ideas, processes, formulas, source and object codes, know-how,
improvements, discoveries, developments, designs, techniques and any other information concerning Company which it deems confidential or proprietary. Consultant agrees that such Confidential Information shall not be revealed by Consultant or its
Associates to anyone outside Company without the prior written consent of Company, and such Confidential Information shall be used by Consultant and its Associates only in performing Consultant’s obligations hereunder. All such information
shall remain Company’s property, and that all copies of the same on computer disc or in written, graphic or tangible form shall be returned to Company upon completion of each project. All Associates obtained or provided by Consultant in
connection with performing the Services hereunder shall execute and deliver to Company confidentiality agreements acceptable to Company. Nothing in this Agreement, however, shall confer upon Consultant the obligation to preserve the confidentiality
of any information that: (a) was known to Consultant prior to the date such information was disclosed to Consultant under this Agreement free of any obligation to keep it confidential; (b) is distributed by Company to third parties without
any restrictions as to confidentiality; (c) is or becomes publicly available, other than by unauthorized disclosure by Consultant; or (d) is rightfully disclosed to Consultant by a third party without any restrictions as to
confidentiality. 
 Consultant understands and agrees that the obligations described in this section shall survive the termination or expiration of this
Agreement. 

 8. Service Warranties. Consultant warrants and represents to Company that all services provided
under this Agreement shall be performed in a timely and professional manner and that Consultant is competent, qualified and experienced to the extent necessary to perform such services. 
 9. Insurance: Consultant understands and agrees that as an independent contractor, Consultant is responsible for maintaining adequate insurance
coverage for Consultant and, if appropriate, for all of Consultant’s employees, representatives, and agents, if reasonably obtainable. Adequate insurance coverage shall, at all minimum, include any mandated benefits/labor insurance, including
Workers’ Compensation, comprehensive general liability, including broad form contractual liability, and automobile liability insurance for the operator of all motor vehicles used in the performance of this Agreement. 
 Company shall be named as an additional insured under said liability coverage as to any claim for damage or injury to persons or property resulting from or growing out
of the performance of this Agreement. 
 10. Restrictions on Promotion and Solicitation. Consultant agrees that Consultant will not
use Company’s name in any promotion or advertising of Consultant’s services without Company’s written permission. Consultant agrees that Consultant will not use the performance of services under this agreement, Consultant’s
affiliation with Company or any Company facilities, systems, sites, information or contacts for marketing or promotion of Consultant or Consultants services or for the direct solicitation of business without Company’s written permission. The
Consultant agrees not to solicit any Company employees to work for Consultant or a business at which he consults for one year after the termination of this Agreement. 
 11. Compliance with Laws and Rules. Consultant agrees to comply fully with any and all of Company’s reasonable rules and regulations that relate to any of Consultant’s activities as to which it has
been given advance notice. Consultant shall secure and maintain in force all licenses and permits required of Consultant by law or regulation, and Consultant shall fully comply with all federal, state and local laws, ordinances and regulations
applicable to Consultant. 
 12. Consultant’s Other Agreements and Conflicts of interest. Consultant represents that performance
under this Agreement does not and will not breach any agreement the Consultant has with any third party. Consultant represents that there are no other agreements, written or oral, conveying to any third party any rights in any research or other work
to be conducted by Consultant under this agreement. During the term of this agreement Consultant will not inter into any contracts with or do business with any person, firm or company which would conflict with or impair Consultant’s
performances of the services contemplated by this agreement. 
 13. Assignment. This Agreement may not be assigned in whole or in part
by Consultant without the express written consent of Company. 
 14. Entire Agreement. This Agreement and its Exhibit set forth the
entire understanding of the parties and supersede any and all prior agreements, arrangements and understandings relating to the subject matter hereof, and may not be changed except in a writing signed by the parties. No representation, promise,
inducement or statement of intention has been made by either party which is not embodied herein. 

 15. Waiver. No provision of this Agreement shall be deemed waived, amended or modified by either
party, unless such waiver, amendment or modification is in writing and is signed by the party against whom it is sought to be enforced. 
 16. Successors and Assigns. This Agreement shall inure to the benefit of and shall be binding upon the parties hereto and their respective successors and assigns. 
 17. Choice of Law. This Agreement shall be governed by the laws of the State of California. 
 18. Indemnity. Company shall indemnify Consultant and hold Consultant harmless against any losses, claims, damages, settlements or liabilities,
including attorney’s fees, to which Consultant may become subject in connection with the rendering of the services described in this Agreement, and Company shall reimburse Consultant for any legal or other expenses reasonably incurred by him in
connection with investigating, preparing to defend, or defending or settling any lawsuits, claims, or other proceedings arising in any manner out of, or in connection with the performance of services under this Agreement, unless such losses, claims,
damages, liabilities or expenses arise out of Consultant’s actions or omissions to act which were not in good faith in a manner Consultant believed to be in the best interests of the Company or if indemnification is not permitted pursuant to
Section 317(c) (1), (2), or (3). 
 19. Disclaimer. NOTWITHSTANDING ANYTHING TO THE CONTRARY HEREIN, EXCEPT AS PROVIDED IN SECTION 8,
CONSULTANT MAKES NO REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, TO ACCURACY, COMPLETENESS, CONDITION, SUITABILITY, PERFORMANCE, FITNESS FOR A PARTICULAR PURPOSE, OR MERCHANTABILITY OF ANY INFORMATION
OR SERVICES PROVIDED BY CONSULTANT TO COMPANY UNDER THIS AGREEMENT. 
 20. Limitation of Liability. IN NO EVENT, EXCEPT IN THE CASES OF A
BREACH OF CONFIDENTIALITY OBLIGATIONS UNDER SECTION 7 OF THIS AGREEMENT, SHALL EITHER CONSULTANT OR COMPANY BE LIABLE TO THE OTHER PARTY OR ANY OTHER PERSON OR ENTITY FOR SPECIAL, INCIDENTAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES (INCLUDING, BUT NOT
LIMITED TO, LOSS OF PROFITS, LOSS OF DATA OR LOSS OF USE DAMAGES) ARISING OUT OF THIS AGREEMENT, THE RENDERING OF SERVICES HEREUNDER, OR BREACH THEREOF, EVEN IF SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES OR LOSSES. 
 21. Arbitration. Any dispute or claim relating to or arising out of this Agreement shall be resolved informally through direct discussions. If the
dispute or claim cannot be resolved through such discussions, the matter shall be resolved by final binding arbitration in Santa Clara County, California, USA under the Arbitration Rules set forth in California Code of Civil Procedure
Section 1280 et seq., including section 1283.05, and pursuant to California law. The parties agree that judgment on any arbitration award may be entered by any court of competent jurisdiction. 
 22. Attorneys’ Fees. In the event of any dispute between the parties hereto involving the covenants or conditions contained in this Agreement
or arising out of the subject matter of this Agreement, the prevailing party shall be entitled to recover reasonable expenses, attorneys’ fees and costs. 

 23. Termination. In the absence of a breach of this agreement, either party shall be entitled to
terminate this Agreement for its convenience upon ten (10) days advance written notice to the other party. Upon such notice, Consultant shall cease rendering all services except those which Company and Consultant mutually agree in writing
should be performed to ensure an orderly winding down of the services by Consultant and transition to Company or another vendor selected by Company. Upon any such termination, Consultant shall be entitled to the payment of fees based upon the rates
set forth on the Rate Schedule through the effective date of termination. SUCH PAYMENT SHALL CONSTITUTE A FULL AND FINAL SETTLEMENT AND CONSULTANT’S EXCLUSIVE REMEDY FOR ALL AMOUNTS CLAIMED DUE BY CONSULTANT FOR RENDERING SERVICES HEREUNDER OR
FOR ANY CLAIMS FOR LOST PROFITS OR OTHER DAMAGES ON ACCOUNT OF SUCH TERMINATION. 
 In the event of a breach of this Agreement by either party, the other
party may terminate this Agreement without advanced notice, and recover actual damages incurred as a result of the breach.. The breaching party will have no right to recover any unpaid fees or other compensation that might otherwise have been due
under this Agreement but for the breach. 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their duly authorized
representatives on the day and year first above written. 
  

					
	Company
			
		 	 By
	 	 /s/ ROBERT V. DICKINSON

			
		 	 Name
	 	 Robert V. Dickinson

			
		 	 Title
	 	 President and CEO

	
	 CONSULTANT

		 	 /s/ KEVIN BERRY

		 	 Name
	 	
		 	  

		 	 Address
	 	

 EXHIBIT A 
 Position Description: Is responsible for directing the fiscal functions of the corporation in accordance with generally accepted accounting principles issued by the Financial Accounting Standards Board, the Securities and Exchange
Commission, other regulatory and advisory organizations and in accordance with financial management techniques and practices appropriate within the semiconductor industry. 
 Executive position responsible for the entire finance and accounting function in the Company. 
  

	 	•	 	Plan, develop, organize, implement, direct and evaluate the organization’s fiscal function and performance. 

  

	 	•	 	Participate in the development of the corporation’s plans and programs as a strategic partner. 

  

	 	•	 	Evaluate and advise on the impact of long range planning, introduction of new programs/strategies and regulatory action. 

  

	 	•	 	Develop credibility for the finance group by providing timely and accurate analysis of budgets, financial reports and financial trends in order to assist the CEO/President and the
Board and other senior executives in performing their responsibilities. 

  

	 	•	 	Enhance and/or develop, implement and enforce policies and procedures of the organization by way of systems that will improve the overall operation and effectiveness of the
corporation. 

  

	 	•	 	Establish credibility throughout the organization and with the Board as an effective developer of solutions to business challenges. 

  

	 	•	 	Provide technical financial advice and knowledge to others within the financial discipline. 

  

	 	•	 	Continual improvement of the budgeting process through education of department managers on financial issues impacting their budgets. 

  

	 	•	 	Provide strategic financial input and leadership on decision making issues affecting the organization; i.e., evaluation of potential alliances acquisitions and/or mergers and
pension funds and investments. 

  

	 	•	 	Optimize the handling of bank and deposit relationships and initiate appropriate strategies to enhance cash position. 

  

	 	•	 	Develop a reliable cash flow projection process and reporting mechanism which includes minimum cash threshold to meet operating needs. 

  

	 	•	 	Be an advisor from the financial perspective on any contracts into which the Corporation may enter. 

  

	 	•	 	Evaluation of the finance division structure and team plan for continual improvement of the efficiency and effectiveness of the group as well as providing individuals with
professional and personal growth with emphasis on opportunities (where possible) of individuals. 

 EXHIBIT B 
 Fee: $120 per hour 
 Options: 5,000 options for common shares will be granted at an exercise price equal to the fair market value of the
Company’s common stock as of the date of the grant. Options will vest as follows: 1,667 on 4/17/06, 1,667 on 5/17/06, and 1,666 on 6/17/06. They will exercisable until one year after termination of services.Employment letter agreement

 Exhibit 10.99 
  

			
	

	  	 Path 1 Network Technologies Inc.
 6215 Ferris Sq., Suite 140
 San Diego, CA 92121
  
 Phone 858.450.4220
 Fax 858.450.4203
 www.path1.com

 Offer Letter 
 November 13, 2005 
 Thomas L. Tullie 
 P.O. Box 675206 
 Rancho Santa Fe, CA 92067 
 Dear Mr. Tullie: 
 Pursuant to this letter agreement (the “Agreement”) and subject to completing background
investigations and you providing evidence of your United States citizenship or eligibility to work in the United States, we are pleased to make to you the following offer of employment with Path 1 Network Technologies Inc. (the “Company”):

  

	1.	Responsibilities 

 Your title will be President and Chief Executive
Officer (or CEO) of the Company, effective November 15, 2005 (the “Effective Date”). As the CEO, you will serve full-time in San Diego, California and report to the Board of Directors of the Company (the “Board”). You also
will serve as a member of the Board at no additional compensation. It is acknowledged that continuation of your service as a director shall be subject to your re-election by the Company’s stockholders. The Company agrees to propose to the
stockholders at each appropriate annual meeting during the term hereof your re-election as a member of the Board, provided you are otherwise eligible for re-election. Nothing in this Agreement prevents you from engaging in other outside activities
that do not materially and adversely conflict with your responsibilities as CEO of the Company, or that require any substantial amount of time. You agree not to serve on outside Boards of Directors of more than two for-profit companies without the
Company’s prior written consent, which shall not be unreasonably withheld. In all events, you will promptly notify the Board of any board seats which you may from time to time accept. 

	2.	Term of Employment 

 The initial term of your employment shall
commence on the Effective Date and shall, except as provided in Section 4.1 hereof, continue for a term of three (3) years following the Effective Date (the “Initial Term”). Thereafter, the term of this Agreement shall be
automatically extended for successive and additional two-year periods, unless either party shall provide a written notice of termination to the other at least ninety (90) days prior to the end of the Initial Term or any extended term. The term
of this Agreement is subject to early termination in accordance with the provisions set forth in Section 4 hereof. 
  

	3.	Compensation and Benefits 

 You shall be entitled to the following:

  

	 	3.1 (a)	Base salary at the annual rate of $300,000, or at such increased rate as the Board, in its sole discretion, may hereafter from time to time determine (“Base Salary”),
payable bi-weekly less required tax withholding. During the term of this Agreement, your Base Salary will be reviewed annually by the Board to determine whether such Base Salary should be increased in light of your duties, responsibilities and
performance, and, if it is determined by the Board that an increase is merited, such increase shall be promptly put into effect and your Base Salary, as so increased, shall constitute your Base Salary for purposes of this Section 3.1(a). Your
Base Salary cannot be decreased by the Company or the Board during the Term of this Agreement. 

  

	 	3.1 (b)	Within thirty (30) days after the Effective Date, the Board and you shall mutually agree on (a) appropriate and reasonably obtainable criteria which the Board or its
Compensation Committee are to consider with regard to an annual bonus and (b) the target amount of such annual bonus or the formula by which such annual bonus target amount is to be determined. The Board shall meet with you annually for this
purpose, within sixty (60) days prior to the start of each Term year. During the initial year of this Agreement, the target bonus amount shall be 50% of Base Salary with the bonus percentage thereafter to be based on agreed upon metrics but in
no event less than 25% of the Base Salary. The bonus shall be payable no later than thirty (30) days following the conclusion of the Term year for which the bonus was earned and may be paid either as cash or Company stock or options, or any
combination thereof at your option. At the end of the initial year of this Agreement, you will received a minimum guaranteed target bonus payment of 25% of your Base Salary, regardless of whether the criteria established by the Company for receiving
the entire target bonus have been met. 

  

	 	3.2	Fringe benefits (medical, disability insurance, 401k plan, vacation) shall be according to the Company policies in place from time to time for all employees and its executives. The
Company reserves the right to change its benefit programs or policies, and/or its providers, at any time. 

	 	3.3	Annual paid vacation at the rate of five weeks per annum, which shall accrue from the Effective Date in accordance with the Company’s standard policies (including the cap
established by such policies). 

  

	 	3.4	Subject to Board approval, within ten (10) days following the Effective Date, you will receive an inducement grant of 150,000 incentive stock options (the “Initial
Options”) that are fully vested upon grant but which will not be exercisable for one year, and which are further conditioned upon you remaining with the Company as CEO for said one year period unless you are terminated without Cause or leave
for Good Reason prior to the one year period. The exercise price for the Initial Options will be set equal to the closing price of the Company’s common stock on the date the Board grants the options. Additionally, within ten (10) days
following the Effective Date, you will receive 250,000 restricted shares that will vest two years from the Effective Date, 50,000 restricted shares that will vest three years from the Effective Date, and 50,000 additional stock options that —
will vest three years from the Effective Date (the “Initial Shares”), subject to continuation of your service as CEO. The parties acknowledge and agree that it was their intention for your options and shares in the aggregate to represent
at least 5% of the Company’s fully diluted capitalization as of the Effective Date. In the event that the Company obtains equity funding during your service you will receive compensation in the form of fully-vested shares, options or cash, as
elected by you, in an amount equal to five percent (5%) of the net proceeds from such funding. This section shall not apply to debt funding unless and until said debt funding is actually converted into equity. This section shall not apply to
any exercise or conversion of any currently outstanding stock options, warrants or convertible preferred stock, or any stock options ever granted to you, nor shall it apply to any future stock options or warrants unless and until they are actually
exercised for stock. This section shall not apply to debt funding unless and until said debt funding is actually converted into equity. All of your shares or options shall be duly registered on Form S-8 or other appropriate form.

 In the event of the occurrence of a Change of Control (as defined below), all options and shares shall immediately vest and
become exercisable in full and any of your options shall continue to be exercisable for a period of two years or until the applicable expiration date of such options (in accordance with their terms), whichever period is shorter, whether or not you
also become entitled to the amounts and benefits set forth in Section 4.2(a) below. For purposes of this Agreement, “Change of Control” shall mean any of the following events: 
  

	 	(a)	a sale, lease or other disposition of all or substantially all of the assets of the Company. 

  

	 	(b)	 either a merger or consolidation in which the Company is not the surviving corporation and the stockholders of the Company immediately prior to the merger or
consolidation fail to possess direct or indirect beneficial ownership of more than fifty percent (50%) of the voting power of the securities of the surviving corporation (or if the surviving corporation is a controlled subsidiary of another
entity, then the required 

	 	 
beneficial ownership shall be determined with respect to the securities of that entity which controls the surviving corporation and is not itself a
controlled subsidiary of any other entity) immediately following such transaction, or a reverse merger in which the Company is the surviving corporation and the stockholders of the Company immediately prior to the reverse merger fail to possess
direct or indirect beneficial ownership of more than fifty percent (50%) of the securities of the Company (or if the Company is a controlled subsidiary of another entity, then the required beneficial ownership shall be determined with respect
to the securities of that entity which controls the Company and is not itself a controlled subsidiary of any other entity) immediately following the reverse merger (for purposes of this section, any person who acquired securities of the Company
prior to the occurrence of a merger, reverse merger, or consolidation in contemplation of such transaction and who after such transaction possesses direct or indirect beneficial ownership of at least ten percent (10%) of the securities of the
Company or the surviving corporation (or if the Company or the surviving corporation is a controlled subsidiary, then of the appropriate entity as determined above) immediately following such transaction shall not be included in the group of
stockholders of the Company immediately prior to such transaction). 

  

	 	(c)	The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”)) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of more than fifty percent (50%) of the voting power of the Company’s securities. 

  

	 	(d)	The dissolution or liquidation of the Company. 

  

	 	3.5	Reimbursement from the Company for all reasonable and customary expenses incurred by you in performing services under this Agreement, including travel expenses, expenses related to
wireless communications (cell phone and Blackberry) and reasonable expenses related to home communications for the company (e.g., high speed internet access, fax, computer and accessories if needed) and other out-of-pocket expenses, in accordance
with your expense account and the Company’s reimbursement policies and provided that you shall submit to the Company reasonable documentation with respect to such expenses. 

  

	4.	Termination of Employment 

  

	 	4.1	Events of Termination 

 Your employment with the
Company may be terminated prior to the expiration of the Initial Term or extended term set forth in Section 2 hereof as follows: 
  

	 	(a)	 By the Company With Cause. Your employment with the Company may be terminated at any time for “Cause.” As used in this Agreement, the 

	 	 
term “Cause” shall mean (i) your willful and material misconduct which results in material damage to the Company, wither economic or
otherwise, or willful failure to fulfill and perform your material and stated duties which results in material damage to the Company, either economic or otherwise, including the obligations stated herein, which willful and material misconduct or
willful failure, if curable, is not fully cured to the reasonable satisfaction of the Board within thirty (30) days after written notice thereof, (ii) any material breach by you of any material provision of this Agreement or the policies
pertaining to Company employees which the Company adopts from time to time and provides you with a copy of, which results in material damage to the Company, either economic or otherwise and which, if curable, is not fully cured to the reasonable
satisfaction of the Board within thirty (30) days after written notice thereof, or (iii) your committing a willful and material act of theft, fraud, dishonesty, or embezzlement with regard to the Company or your conviction of a felony.

  

	 	(b)	By the Company Without Cause; By You With Good Reason. Your employment with the Company may be terminated, at any time by written notice to the other, without Cause by the
Company or for “Good Reason” by you. As used herein, the term “Good Reason” shall mean the occurrence of any of the following: (i) any material change in the location for the performance of your duties or the character or
scope of your position, duties, authority, or responsibilities hereunder (except in each case in connection with the termination of your employment for Cause or disability or as a result of your death, or temporarily as a result of your illness or
other absence), including but not limited to failing to continue you in the position of Chief Executive Officer, (ii) any material breach by the Company of any provision of this Agreement, including but not limited to failure to provide you
with the Base Salary, bonuses, options or shares in accordance with the terms set forth in Section 3 hereof, which breach is not fully cured to your reasonable satisfaction within thirty (30) days after written notice from you thereof,
(iii) failure of any successor to the Company to assume in a writing delivered to you upon the assignee becoming such, the obligations of the Company hereunder, or (iv) a Change in Control. 

  

	 	(c)	By You Without Good Reason. Your employment with the Company may be terminated by you without Good Reason, at any time upon notice to the Company. 

 

	 	(d)	Death. In the event of your death, your employment shall terminate on the date of death. 

  

	 	(e)	 Disability. In the event of your Disability (as defined below), the Company may terminate your employment by giving to you a written notice of termination.
For purposes of this Agreement, “Disability” means your inability to, even with reasonable accommodation, substantially 

	 	 
perform your duties hereunder for ninety (90) consecutive days or one hundred eighty (180) days out of three hundred sixty five (365) days as
a result of a physical or mental illness or condition, and, within thirty (30) days after written notice of the Company’s intent to terminate your employment pursuant to this Section, you have not returned to work. If any question shall
arise as to whether you are unable to substantially perform your duties hereunder, the determination will be made through a medical examination by a physician mutually selected by you and the Company. 

  

	 	4.2	The Company’s Obligations Upon Termination 

 Following the termination of your employment under the circumstances described below, the Company shall pay to you the following compensation and provide the following benefits in full satisfaction and final settlement of any and all claims
and demands that you or the Company then have or thereafter may have against each other in connection with this Agreement and the termination of your employment that are lawfully released by the mutual release described in Section 4.3 below,
subject to the execution of the mutual release by you and the Company as provided in Section 4.3 below prior to the provision of the compensation and benefits set forth below: 
  

	 	(a)	Termination Without Cause by the Company or with Good Reason by You or Failure by the Company to Renew the Initial Term or any extended term. In the event that your
employment shall be terminated by the Company or you pursuant to Section 4.1(b) hereof, you will be entitled to the continued payment of your Base Salary (less required tax withholding) for a period of twelve (12) months from the date of
termination or expiration, as the case may be, subject to the provisions of Section 7.13. In addition, any options or restricted shares granted to you shall immediately vest and any of your options shall remain exercisable and will not
terminate until the date which is 24 months after such termination, or until the applicable expiration date of such options (in accordance with their terms), whichever period is shorter. In addition, the Company shall reimburse you for any expenses
incurred through the date of such termination in accordance with Section 3.5 hereof, shall pay you for any vacation time that you had earned but not used through the date of termination, at your final base rate of pay, shall pay you for any
Base Salary and bonus earned, but not paid through the date of termination, and shall pay you l/12th of the maximum bonus award for each month that you have provided services as CEO during the year in which such termination occurs.

  

	 	(b)	 Termination by the Company for Cause or by You Without Good Reason. In the event that your employment shall be terminated by the Company pursuant to
Section 4.1 (a) hereof (or if you voluntarily resign otherwise than for Good Reason, in accordance with Section 4.1(c) hereof prior to the expiration of the then current term of this Agreement), you shall be 

	 	 
entitled to no further compensation or other benefits under this Agreement, other than any Base Salary earned by you on or prior to the date of such
termination, but not yet paid and any unpaid bonus awarded (or required to be awarded based on the full achievement of one or more pre-established and fully objective criteria) for the year preceding the year in which termination occurs. In addition
any of your options shall remain exercisable and will not terminate until the date which is 24 months after such termination, or until the applicable expiration date of such options (in accordance with the terms), whichever period is shorter. In
addition, the Company shall reimburse you for any expenses incurred through the date of such termination in accordance with Section 3.5 hereof, and shall pay you for any vacation time that you had earned but not used through the date of
termination, at your final base rate of pay. Upon termination by the Company of your employment for Cause or termination for reason other than Good Reason by you, all of your rights under this Agreement (except as otherwise set forth herein
including your rights to any and all vested options in accordance with their terms, and vested shares) shall immediately terminate and the Company shall have no further obligation to you. 

  

	 	(c)	Termination Upon Death or Disability. In the event that your employment shall be terminated pursuant to Section 4.1(d) or 4.1(e) hereof, the Company shall pay you (or
your estate or trust or legal representatives) all Base Salary earned, but unpaid, through the date of termination and any unpaid bonus awarded (or required to be awarded based on the full achievement of one or more pre-established and fully
objective criteria) for the year preceding the year in which termination occurs and shall reimburse you (or your estate or trust or legal representatives) for any expenses incurred through the date of such termination in accordance with
Section 3.5 hereof. In addition any of your options shall remain exercisable and will not terminate until the date which is 24 months after such termination, or until the applicable expiration date of such options (in accordance with their
terms), whichever period is shorter. The Company shall also pay you or your estate or trust or legal representative for any vacation time that you had earned but not used through the date of termination, at your final base rate of pay.

  

	 	4.3	Release. Notwithstanding the foregoing, as a condition for the provision of the compensation and benefits set forth in this Section 4, you and the Company will sign a
mutual release of all claims against each other and your respective officers, agents, employees, heirs, assignees, and members of the Board, on such terms and form as agreed by the Company and you which shall be binding on both parties and their
respective officers, agents, employees, heirs, assignees, and the members of the Board. 

  

	5.	Relocation 

 You will not be entitled to any
relocation benefits under the terms of this Agreement. 

	6.	Proprietary Information and Inventions 

 You
immediately shall enter into a Proprietary Information and Inventions Agreement with the Company as agreed by you. Such Agreement shall survive your employment in accordance with applicable law. 
  

	7.	Miscellaneous 

  

	 	7.1	Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of California without regard to principles of conflict of laws.

  

	 	7.2	Arbitration. Any controversy or claim based on, arising out of or relating to the interpretation and performance of this Agreement or any termination hereof shall be solely
and finally settled by arbitration under the employment dispute rules of the American Arbitration Association, and judgment on the award rendered in the arbitration may be entered in any court having jurisdiction thereof. Any such arbitration shall
be in the State of California or in the state of your principal employment for the Company at the time your employment terminates and shall be submitted to a single arbitrator appointed by the mutual consent of the parties or, in the absence of such
consent, by application of any party to the American Arbitration Association. A decision of the arbitrator shall be final and binding upon the parties. The Company will pay all fees and costs of the arbitrator. The arbitrator shall award the
prevailing party in any such proceedings reasonable attorneys’ fees and costs (other than fees and costs of the arbitrator) incurred in the action. 

  

	 	7.3	Entire Agreement; Amendment. This Agreement contains the complete understanding and agreement between the parties hereto with respect to the subject matter hereof, and
supersedes all prior and contemporaneous understandings and agreements, written or oral, between the parties relating to the subject matter hereof. This Agreement may not be amended except in a written document signed by you and the Company
following express approval of the amendment by the Board of Directors. 

  

	 	7.4	Severability. In the event that any provision or portion of this Agreement shall be determined to be invalid or unenforceable for any reason, in whole or in part, the
remaining provisions of this Agreement shall be unaffected thereby and shall remain in full force and effect to the fullest extent permitted by law and any such invalidity or unenforceability shall be deemed replaced by a term or provision
determined by the parties or the arbitrator as coming closest to expressing the intention of the invalid or unenforceable term or provision. 

  

	 	7.5	 Notice. Any notice to be given hereunder shall be in writing and delivered either in person, by nationally recognized overnight courier, or by registered or
certified first class mail, postage prepaid, addressed, if the Company, to its Chief Financial Officer at its headquarters and, if to you, to your address as last provided to the 

	 	 
Company in writing. Either party may, by notice hereunder, change its address for notices. 

  

	 	7.6	Headings. The Section headings in this Agreement are for convenience of reference only and shall not affect its interpretation. 

  

	 	7.7	Amendment. This Agreement may be modified only by a written instrument signed by you and by an expressly authorized representative of the Company. 

 

	 	7.8	Waiver. No waiver of any provision hereof shall be effective unless made in writing and signed by the waiving party. The failure of either party to require the performance of
any term or obligation of this Agreement, or the waiver by either party of any breach of this Agreement, shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of subsequent breach. 

  

	 	7.9	Assignment. Neither the Company nor you may make assignment of this Agreement or any interest herein, by operation of law or otherwise, without the prior written consent of
the other. Subject to the foregoing, this Agreement shall inure to the benefit of and be binding upon the Company and the Executive, their respective successors, executors, administrators, heirs and permitted assigns. 

  

	 	7.10	Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which when together shall constitute one and the same
agreement. 

  

	 	7.11	Liability Insurance. D&O liability insurance shall be provided to you by the Company to the same extent that it is provided to the other executive officers in the
Company. The Company hereby represents and warrants that its D&O liability insurance is in effect with customary terms and protections and such insurance covers you as of the Effective Date. 

  

	 	7.12	Indemnification. You shall be given the opportunity to enter into the Company’s standard form of bilateral Indemnification Agreement which shall contain customary terms
and protections. 

  

	 	7.13	 Timing of Payments: Gross-Up Payment. In the event that at the time that your employment with the Company terminates, the Company is publicly traded (as
defined in Section 409A of the Internal Revenue Code), any amounts payable under this Agreement that would otherwise be considered deferred compensation subject to the additional twenty percent (20%) tax imposed by Section 409A if
paid within six (6) months following the date of termination of Company employment shall be paid at the time that will prevent such amounts from being considered deferred compensation. In the event any payment, distribution or benefit hereunder
or otherwise would be subject to any excise tax under Section 4999 of the Internal Revenue Code or any interest or penalties with respect thereto (collectively “Excise Tax”), you shall be entitled to an additional payment (a
“Gross-Up Payment”) in an amount that results, after payment of all taxes, 

	 	 
interest or penalties and Excise Tax imposed on the Gross-Up Payment, in the retention by you of an amount of the Gross-Up Payment equal to the Excise Tax.

  

	 	7.14	Expenses. The Company shall pay any and all legal and other out-of-pocket expenses incurred by you in connection with the negotiation and preparation of this Agreement up to
the sum of $7,500 on an after-tax basis. 

 You understand and agree that by accepting this offer, you represent to the Company that your
performance will not breach any other agreement to which you are a party and that you have not entered into, and will not during the term of your employment with the Company enter into, any oral or written agreement in conflict with any of the
provisions of this letter or the Company’s policies. You are not to bring with you to the Company, or use or disclose to any person associated with the Company, any confidential or proprietary information belonging to any former employer or
other person or entity with respect to which you owe an obligation of confidentiality under any agreement or otherwise. The Company does not need and will not use such information and we will assist you in any way possible to preserve and protect
the confidentiality of proprietary information belonging to third parties. Also, we expect you to abide by any obligations to refrain from soliciting any person employed by or otherwise associated with any former employer and suggest that you
refrain from having any contact with such persons until such time as any non-solicitation obligation expires. 
 As an employee, you will be expected to
adhere to the Company’s standards of professionalism, loyalty, integrity, honesty, reliability and respect for all. Please note that the Company is an equal opportunity employer. The Company does not permit, and will not tolerate, the unlawful
discrimination or harassment of any employees, consultants, or third parties on the basis of sex, race, color, religion, age, national origin or ancestry, marital status, veteran status, mental or physical disability or medical condition, sexual
orientation, pregnancy, childbirth or related medical condition, or any other status protected by applicable law. 
  
  
  
  
  
  
  
  
  
  
 Tom, if the foregoing accurately represents your understanding, please sign below and return it to us, at which time it will become a legally-binding agreement. Welcome
aboard. We will accomplish great things together. 

			
	Warmest regards,
		
	 By:
	 	

		 	 Frederick Cary

		 	 Co-Principal Executive Officer and Director

  

			
	 ACCEPTED AND AGREED IN ALL RESPECTS:

		
	 By:
	 	

		 	 Tom Tullie

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