Document:

exv10w5

Exhibit 10.5

EMPLOYMENT AGREEMENT

          This AMENDED AND RESTATED EMPLOYMENT AGREEMENT is made and entered into as of this
16th day of November 2010, and amended as of this 2nd day of May 2011, by and between
MedAssets, Inc., a Delaware corporation (the “Company”), and Lance M. Culbreth
(“Employee”).

W I T N E S S E T H :

          WHEREAS, the Company desires to employ Employee and to enter into an agreement embodying the
terms of such employment (this “Agreement”) and Employee desires to enter into this
Agreement and to accept such employment, subject to the terms and provisions of this Agreement;

          WHEREAS, the Company and Employee desire to amend the original Agreement, which was entered
into on November 16, 2010;

          NOW, THEREFORE, in consideration of the promises and mutual covenants contained herein and for
other good and valuable consideration, the receipt and sufficiency of which are mutually
acknowledged, the Company and Employee hereby agree as follows:

          Section 1. Definitions.

          (a) “Accrued Obligations” shall mean (i) all accrued but unpaid Base Salary through
the date of termination of Employee’s employment hereunder; (ii) any unpaid or unreimbursed
expenses incurred in accordance with Section 7 hereof, to the extent incurred prior to termination
of employment; (iii) any benefits provided under the Company’s employee benefit plans upon a
termination of employment, in accordance with the terms therein, including rights to equity in the
Company pursuant to the Company’s equity plans or grant documents thereunder; and (iv) rights to
indemnification by virtue of Employee’s position as an officer or director of the Company Group or
under any indemnification agreement between Employee and the Company, and the benefits under any
directors’ and officers’ liability insurance policy maintained by the Company Group, in accordance
with its terms thereof.

          (b) “Affiliate” shall mean, as to any Person, any other Person that controls, is
controlled by, or is under common control with, such Person.

          (c) “Annual Bonus” shall have the meaning set forth in Section 4(b) below.

          (d) “Base Salary” shall mean the salary, and any increase thereof, provided for in
Section 4(a) below.

          (e) “Board” shall mean the Board of Directors of the Company.

          (f) “Cause” shall mean (i) Employee’s act(s) of gross negligence or willful misconduct
in the course of Employee’s employment hereunder that is or could reasonably be

 

 

expected to be materially injurious to the Company or any other member of the Company Group,
(ii) willful failure or refusal by Employee to perform in any material respect his duties or
responsibilities, (iii) misappropriation by Employee of any assets or business opportunities of the
Company or any other member of the Company Group, (iv) embezzlement or fraud committed by Employee,
or at his direction, (v) Employee’s conviction by a court of competent jurisdiction of, or pleading
“guilty” or “ no contest” to, a felony or any other criminal charge (other than minor traffic
violations) that has, or could be reasonably expected to have, an adverse impact on the performance
of Employee’s duties to the Company or any other member of the Company Group or otherwise result in
material injury to the reputation or business of the Company or any other member of the Company
Group, or (vi) Employee’s breach of any material provision of this Agreement. For purposes of this
definition of Cause, no act or failure to act on the part of Employee shall be considered “willful”
if it is done, or omitted to be done, by Employee in good faith and with a good faith belief that
Employee’s act or omission was in the best interests of the Company.

          (g) “Change in Control” means:

          (i) a change in ownership or control of the Company effected through a transaction or
series of transactions (other than an offering of Stock to the general public through a
registration statement filed with the Securities and Exchange Commission) whereby any
“person” or related “group” of “persons” (as such terms are used in Sections 13(d) and
14(d)(2) of the Exchange Act), other any other member of the Company Group or an employee
benefit plan maintained by the Company or any other member of the Company Group, directly or
indirectly acquires “beneficial ownership” (within the meaning of Rule 13d-3 under the
Exchange Act) of securities of the Company possessing more than fifty percent (50%) of the
total combined voting power of the Company’s securities outstanding immediately after such
acquisition;

          (ii) the date upon which individuals who, as of the Commencement Date, constitute the
Board (the “Incumbent Board”), cease for any reason to constitute at least a
majority of the Board; provided, however, that any individual becoming a director subsequent
to the date hereof whose election, or nomination for election by the Company’s stockholders,
was approved by a vote of at least a majority of the directors then comprising the Incumbent
Board shall be considered as though such individual were a member of the Incumbent Board,
but excluding, for this purpose, any such individual whose initial assumption of office
occurs as a result of an actual or threatened election contest with respect to the election
or removal of directors or other actual or threatened solicitation of proxies or consents by
or on behalf of a person other than the Board; or

          (iii) the sale or disposition, in one or a series of related transactions, of all or
substantially all of the assets of the Company to any “person” or “group” (as such terms are
defined in Sections 13(d)(3) and 14(d)(2) of the Exchange Act) other than the Company’s
Affiliates.

          (h) “Code” shall mean the Internal Revenue Code of 1986, as amended.

          (i) “Commencement Date” shall mean November 16, 2010.

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          (j) “Company” shall have the meaning set forth in the preamble hereto.

          (k) “Company Group” shall mean the Company together with any direct or indirect parent
or subsidiary of the Company.

          (l) “Competitive Activities” shall mean any business activities in which the Company
or any other member of the Company Group engage (or have committed plans to engage) during the Term
of Employment, or, following termination of Employee’s employment hereunder, was engaged in
business (or had committed plans to engage) at the time of such termination of employment.

          (m) “Confidential Information” shall mean confidential or proprietary trade secrets,
client lists, client identities and information, information regarding service providers,
investment methodologies, marketing data or plans, sales plans, management organization
information, operating policies or manuals, business plans or operations or techniques, financial
records or data, or other financial, commercial, business or technical information (i) relating to
the Company or any other member of the Company Group, or (ii) that the Company or any other member
of the Company Group may receive belonging to suppliers, customers or others who do business with
the Company or any other member of the Company Group, but shall exclude any information that is in
the public domain or hereafter enters the public domain, in each case without the breach by
Employee Section 10(a) below.

          (n) “Developments” shall have the meaning set forth in Section 10(d) below.

          (o) “Disability” shall mean any physical or mental disability or infirmity that
prevents the performance of Employee’s duties for a period of (i) one hundred twenty (120)
consecutive days or (ii) one hundred eighty (180) non-consecutive days during any twelve (12) month
period. Any question as to the existence, extent or potentiality of Employee’s Disability upon
which Employee and the Company cannot agree shall be determined by a qualified, independent
physician selected by the Company and approved by Employee (which approval shall not be
unreasonably withheld). The determination of any such physician shall be final and conclusive for
all purposes of this Agreement.

          (p) “Employee” shall have the meaning set forth in the preamble hereto.

          (q) “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended.

          (r) “Excise Tax” shall mean any tax imposed under Section 4999 of the Federal Tax Code
or any similar tax that may hereafter be imposed.

          (s) “Good Reason” shall mean, without Employee’s written consent: (i) a material
diminution in Employee’s employment duties, responsibilities or authority, or the assignment to
Employee of duties that are materially inconsistent with his position; (ii) any reduction in Base
Salary or target Annual Bonus opportunity; (iii) the relocation of Employee’s principal place of
employment (as provided in Section 3(c) hereof) more than fifty (50) miles from its current
location; or (iv) any breach by the Company of any material provision of this Agreement.

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          (t) “Interfering Activities” shall mean (i) encouraging, soliciting, or inducing, or
in any manner attempting to encourage, solicit, or induce, any individual employed by, or
individual or entity providing consulting services to, the Company or any other member of the
Company Group to terminate such employment or consulting services; provided, that the foregoing
shall not be violated by general advertising not targeted at employees or consultants of the
Company or any other member of the Company Group; (ii) hiring any individual who was employed by
the Company or any other member of the Company Group within the six (6) month period prior to the
date of such hiring; or (iii) encouraging, soliciting or inducing, or in any manner attempting to
encourage, solicit or induce any customer, supplier, licensee or other business relation of the
Company or any other member of the Company Group to cease doing business with or materially reduce
the amount of business conducted with the Company or any other member of the Company Group, or in
any way interfere with the relationship between any such customer, supplier, licensee or business
relation and the Company or any other member of the Company Group.

          (u) “Person” shall mean any individual, corporation, partnership, limited liability
company, joint venture, association, joint-stock company, trust (charitable or non-charitable),
unincorporated organization or other form of business entity.

          (v) “Restricted Area” shall mean any State of the United States of America or any
other jurisdiction in which the Company or any other member of the Company Group engage (or have
committed plans to engage) in business during the Term of Employment, or, following termination of
Employee’s employment, were engaged (or had committed plans to engage) in business at the time of
such termination of employment.

          (w) “Restricted Period” shall mean the period commencing on the Commencement Date and
ending on the twenty-four month anniversary of Employee’s termination of employment hereunder for
any reason.

          (x) “Severance Multiplier” shall mean, (i) with respect to a termination of Employee’s
employment by the Company without Cause or by Employee with Good Reason during the Initial Term or
during the two (2) year period following a Change in Control, 2, and (ii) with respect to a
termination of Employee’s employment by the Company without Cause or by Employee with Good Reason
at any time other than those listed in clause (i), 1.

          (y) “Severance Term” shall mean, with respect to any termination of Employee’s
employment hereunder by the Company without Cause or by Employee with Good Reason, the period
commencing on the date of such termination and extending through a number of months thereafter
determined by multiplying (x) the Severance Multiplier by (y) twelve (12) months.

          (z) “Term of Employment” shall have the meaning ascribed to such term in Section 2
below.

          Section 2. Acceptance and Term of Employment.

          The Company agrees to employ Employee and Employee agrees to serve the Company on the terms
and conditions set forth herein. Subject to earlier termination pursuant to

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Section 8 hereof, the term of employment shall commence on the Commencement Date and shall
continue until the second anniversary of the Commencement Date (the “Initial Term”), and
shall automatically extend for additional one (1) year terms thereafter (each, a “Renewal
Term” and, together with the Initial Term, the “Term of Employment”), unless either the
Employee or the Company provides written notice (a “Notice of Non-Extension”) to the other
party of its intention not to extend the agreement at least twelve (12) months prior to the
expiration of the Initial Term or the Renewal Term, as applicable.

          Section 3. Position, Duties and Responsibilities; Place of Performance.

          (a) During the Term of Employment, Employee shall be employed and serve as the Senior Vice
President and Chief Accounting Officer of the Company (together with such other position or
positions consistent with Employee’s title as the Board shall specify from time to time) and shall
have such duties typically associated with such title. Subject to the foregoing, Employee also
agrees to serve as an officer and/or director of the Company or any parent or subsidiary of the
Company, as specified by the Board, in each case without additional compensation.

          (b) Employee shall devote his full business time, attention, skill and best efforts to the
performance of his duties under this Agreement and shall not engage in any other business or
occupation during the Term of Employment, including, without limitation, any activity that (x)
conflicts with the interests of the Company or its subsidiaries, (y) interferes with the proper and
efficient performance of his duties for the Company, or (z) interferes with the exercise of his
judgment in the Company’s best interests. Notwithstanding the foregoing, nothing herein shall
preclude Employee from (i) serving, with the prior written consent of the Board, as a member of the
board of directors or advisory boards (or their equivalents in the case of a non-corporate entity)
of non-competing businesses and charitable organizations, (ii) engaging in charitable activities
and community affairs, and (iii) managing his personal investments and affairs; provided,
however, that the activities set out in clauses (i), (ii) and (iii) shall be limited by
Employee so as not to materially interfere, individually or in the aggregate, with the performance
of his duties and responsibilities hereunder.

          (c) Employee’s principal place of employment shall be at the Company’s corporate headquarters
in Alpharetta, Georgia, although Employee understands and agrees that he may be required to travel
from time to time in the connection with his performance of duties hereunder.

          Section 4. Compensation. During the Term of Employment, Employee shall be entitled to the
following compensation:

          (a) Base Salary. Employee shall be paid an annualized Base Salary, payable in
accordance with the regular payroll practices of the Company, of not less than $225,000, subject to
increase, if any, as may be approved in writing by the Chief Executive Officer of the Company or
the Compensation, Governance and Nominating Committee of the Board of Directors (the
“Compensation Committee”), but not to decrease from the then-current Base Salary.

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          (b) Annual Bonus. Employee shall be eligible to participate in an annual incentive
bonus plan established by the Board (or committee thereof) in respect of each fiscal year during
the Term of Employment (the “Annual Bonus”), with a target Annual Bonus amount for each
fiscal year of 35% of Base Salary, subject to change, if any, as may be approved in writing by the
Chief Executive Officer of the Company or the Compensation Committee.

          Section 5. Employee Benefits.

          During the Term of Employment, Employee shall be entitled to participate in health, insurance,
retirement and other perquisites and benefits generally provided to other senior executives of the
Company that are made available from time to time. Employee shall also be entitled to the same
number of holidays, vacation and sick days as are generally allowed to senior executives of the
Company in accordance with Company policies in effect from time to time.

          Section 6. “Key-Man” Insurance.

          At any time during the Term of Employment, the Company shall have the right to insure the life
of Employee for the sole benefit of the Company, in such amounts, and with such terms, as it may
determine. All premiums payable thereon shall be the obligation of the Company. Employee shall
have no interest in any such policy, but agrees to reasonably cooperate with the Company in taking
out such insurance by submitting to physical examinations, supplying all information reasonably
required by the insurance company, and executing all necessary documents, provided that no
financial obligation or liability is imposed on Employee by any such documents.

          Section 7. Reimbursement of Business Expenses.

          Employee is authorized to incur reasonable business expenses in carrying out his duties and
responsibilities under this Agreement and the Company shall promptly reimburse him for all such
reasonable business expenses incurred in connection with carrying out the business of the Company,
subject to documentation in accordance with the Company’s policy, as in effect from time to time.

          Section 8. Termination of Employment.

          (a) General. The Term of Employment shall terminate upon the earliest to occur of (i)
Employee’s death, (ii) a termination by reason of a Disability, (iii) a termination by the Company
with or without Cause, (iv) a termination by Employee with or without Good Reason, or (v)
expiration of the Term of Employment in accordance with Section 2 above. Upon any termination of
Employee’s employment for any reason, except as may otherwise be requested by the Company in
writing and agreed upon in writing by Employee, Employee shall resign from any and all
directorships, committee memberships or any other positions Employee holds with the Company or any
other member of the Company Group. Notwithstanding anything herein to the contrary, the payment
(or commencement of a series of payments) hereunder of any nonqualified deferred compensation
(within the meaning of Section 409A of the Federal Tax Code) upon a termination of employment shall
be delayed until such time as Employee has also undergone a “separation from service” as defined in
Treas. Reg. 1.409A-1(h),

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at which time such nonqualified deferred compensation (calculated as of the date of Employee’s
termination of employment hereunder) shall be paid (or commence to be paid) to Employee on the
schedule set forth in this Section 8 as if Employee had undergone such termination of employment
(under the same circumstances) on the date of his ultimate “separation from service.”

          (b) Termination due to Death or Disability. Employee’s employment shall terminate
automatically upon his death. The Company may terminate Employee’s employment immediately upon the
occurrence of a Disability, such termination to be effective upon Employee’s receipt of written
notice of such termination. In the event Employee’s employment is terminated due to his death or
Disability, Employee or his estate or his beneficiaries, as the case may be, shall be entitled to:

          (i) the Accrued Obligations;

          (ii) any unpaid Annual Bonus in respect to any completed fiscal year which has ended
prior to the date of such termination, such amount to be paid at the same time it would
otherwise be paid to Employee had no such termination occurred, but in no event later than
two and one-half months following the end of the fiscal year to which the Annual Bonus
relates; and

          (iii) a pro rata Annual Bonus (determined using the target Annual Bonus if such
termination occurs during the fiscal year in which the Commencement Date falls, and using
the Annual Bonus paid or payable for the immediately prior fiscal year for terminations
after the fiscal year in which the Commencement Date falls) based on the number of days
elapsed from the commencement of such fiscal year through and including the date of such
termination, such amount to be paid within five (5) business days of such termination.

Except as set forth in this Section 8(b), following Employee’s termination by reason of his death
or Disability, Employee shall have no further rights to any compensation or any other benefits
under this Agreement.

          (c) Termination by the Company for Cause.

          (i) A termination for Cause shall not take effect unless the provisions of this
subsection (i) are complied with. Employee shall be given not less than thirty (30) days
written notice by the Board of the intention to terminate his employment for Cause, such
notice to state in detail the particular act or acts or failure or failures to act that
constitute the grounds on which the proposed termination for Cause is based. Employee shall
have thirty (30) days after the date that such written notice has been given to Employee in
which to cure such act or acts or failure or failures to act, to the extent such cure is
possible. If he fails to cure such act or acts or failure or failures to act, the
termination shall be effective on the date immediately following the expiration of the
thirty (30) day notice period. If cure is not possible, the termination shall be effective
on the date of receipt of such notice by Employee. During any cure period provided
hereunder, the Board may, in its sole and absolute discretion, prohibit Employee from

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entering the premises of the Company (or any subsidiary thereof) or otherwise
performing his duties hereunder, and any such prohibition shall in no event constitute an
event pursuant to which Employee may terminate employment with Good Reason;
provided, however, that if cure is possible, and Employee can reasonably
demonstrate to the Board that he desires to enter the premises of the Company (or a
subsidiary thereof) or to otherwise perform his duties hereunder solely to attempt to cure
the act or acts or failure or failures to act that constitute the grounds on which the
proposed termination for Cause is based, Employee shall be permitted to enter the premises
of the Company (or a subsidiary thereof) or otherwise to perform his duties hereunder solely
for the purposes of curing such act or acts or failure or failures to act.

          (ii) In the event the Company terminates Employee’s employment for Cause, Employee
shall be entitled to:

	 	(A)	 	the Accrued Obligations; and

	 	(B)	 	any unpaid Annual Bonus in respect to any
completed fiscal year which has ended prior to the date of such
termination, such amount to be paid at the same time it would otherwise
be paid to Employee had no such termination occurred, but in no event
later than two and one-half months following the end of the fiscal year
to which the Annual Bonus relates.

Following such termination of Employee’s employment for Cause, except as set forth in this Section
8(c)(ii), Employee shall have no further rights to any compensation or any other benefits under
this Agreement.

          (d) Termination by the Company without Cause. The Company may terminate Employee’s
employment at any time without Cause, effective upon Employee’s receipt of written notice of such
termination. In the event Employee’s employment is terminated by the Company without Cause (other
than due to death or Disability), Employee shall be entitled to the following, subject to
adjustment under Section 8(i) below:

          (i) the Accrued Obligations;

          (ii) any unpaid Annual Bonus in respect to any completed fiscal year which has ended
prior to the date of such termination, such amount to be paid at the same time it would
otherwise be paid to Employee had no such termination occurred, but in no event later than
two and one-half months following the end of the fiscal year to which the Annual Bonus
relates;

          (iii) an amount equal to the Severance Multiplier multiplied by the sum of Employee’s
Base Salary plus target Annual Bonus amount for the fiscal year during which such
termination occurs, such amount to be payable in substantially equal installments during the
Severance Term, in accordance with the Company’s regular payroll practices;

          (iv) an additional amount equal to $45,000; and

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          (v) notwithstanding any provision of any equity plan of the Company or applicable
equity grant agreement to the contrary, all equity awards that have not otherwise vested
shall vest, and applicable restrictions shall lapse, immediately upon such termination.

For purposes of this subsection (d) only, the delivery of a Notice of Non-Extension by the Company
to Employee during the two (2) year period following a Change in Control shall be deemed to
constitute a termination without Cause, such that upon receipt of such Notice of Non-Extension by
Employee, Employee shall be deemed to have waived the required notice period set forth in Section 2
above, and Employee’s employment hereunder shall be deemed to heave been terminated without Cause
as of the date of receipt of such notice.

Notwithstanding the foregoing, the payments and benefits described in subsections (ii) through (iv)
above shall immediately cease, and the Company shall have no further obligations to Employee with
respect thereto, in the event that Employee breaches any provision of Section 10 hereof. Following
such termination of Employee’s employment by the Company without Cause, except as set forth in this
Section 8(d), Employee shall have no further rights to any compensation or any other benefits under
this Agreement.

          (e) Termination by Employee with Good Reason. Employee may terminate his employment
with Good Reason by providing the Company thirty (30) days’ written notice setting forth with
reasonable specificity the event that constitutes Good Reason, which written notice, to be
effective, must be provided to the Company within sixty (60) days of the occurrence of such event.
During such thirty (30) day notice period, the Company shall have a cure right (if curable), and if
not cured within such period, Employee’s termination will be effective upon the date immediately
following the expiration of the thirty (30) day notice period, and Employee shall be entitled to
the same payments and benefits as provided in Section 8(d) above for a termination without Cause,
it being agreed that Employee’s right to any such payments and benefits shall be subject to the
same terms and conditions as described in Section 8(d) above. Following such termination of
Employee’s employment by Employee with Good Reason, except as set forth in this Section 8(e),
Employee shall have no further rights to any compensation or any other benefits under this
Agreement.

          (f) Termination by Employee without Good Reason. Employee may terminate his
employment without Good Reason by providing the Company thirty (30) days’ written notice of such
termination. In the event of a termination of employment by Employee without Good Reason, Employee
shall be entitled to the same payments and benefits as provided in Section 8(c) above for a
termination for Cause. In the event of termination of Employee’s employment under this Section
8(f), the Company may, in its sole and absolute discretion, by written notice accelerate such date
of termination and still have it treated as a termination without Good Reason. Following such
termination of Employee’s employment by Employee without Good Reason, except as set forth in this
Section 8(f), Employee shall have no further rights to any compensation or any other benefits under
this Agreement.

          (g) Expiration of Term of Employment. In the event that the Term of Employment
expires following delivery by the Company to the Employee of Notice of Non-Extension, then Employee
shall be entitled, upon separation from employment, to the same

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Severance Benefits as if Employee’s employment had been terminated by the Company without
Cause. These Severance Benefits, which are described in Section 8(d), become due and payable if and
only if Employee’s employment is actually terminated pursuant to a Notice of Non-Extension. Under
no circumstances will any severance benefits be paid to Employee while Employee remains employed
with the Company.

          (h) Release. Regardless of any provision in this Agreement that conflicts or may seem
to conflict: payment of any amount or provision of any benefit pursuant to subsection (b), (d),
(e), or (g) of this Section 8 (other than the Accrued Obligations) (collectively the “Severance
Benefits”) shall be conditioned upon Employee’s execution, delivery to the Company, and
non-revocation of a release of claims in favor of the Company and its affiliates and related
parties in such form as is reasonably required by the Company and consistent with the terms of this
Agreement (the “Release of Claims”), and also conditioned upon the expiration of any revocation
period allowed under the Release of Claims, within 60 days following the date of termination of
Employee’s employment. The Company shall provide such Release of Claims to Employee within five
(5) days of the date of termination of Employee’s employment. If Employee fails to execute the
Release of Claims in a manner that is sufficiently timely so as to permit any revocation period to
expire prior by the end of this 60-day period, or timely revokes his or her acceptance of the
Release of Claims, then Employee shall not be entitled to any Severance Benefits. Further, to the
extent that any of the Severance Benefits constitutes “nonqualified deferred compensation” for
purposes of Section 409A of the Federal Tax Code, any payment of any amount, and the provision of
any benefit otherwise scheduled to occur prior to the 60th day following the date of
termination of Employee’s employment (but for the condition on executing the Release of Claims)
shall not be made until the first regularly scheduled payroll date following the 60th
day. Then after that 60th day, any remaining Severance Benefits shall be provided to
Employee according to the applicable schedule set forth in this Agreement. For the avoidance of
doubt: in the event of a termination due to Employee’s death or Disability, Employee’s obligations
herein to execute and not revoke the Release of Claims may be satisfied on his or her behalf and by
his or her estate or a person having legal power of attorney over his or her affairs.

          (i) Modified Cutback. If any payment, benefit or distribution of any type to or for
the benefit of Employee, whether paid or payable, provided or to be provided, or distributed or
distributable pursuant to the terms of this Agreement or otherwise (collectively, the “Parachute
Payments”) would subject Employee to the Excise Tax, the Parachute Payments shall be reduced so
that the maximum amount of the Parachute Payments (after reduction) shall be one dollar ($1) less
than the amount which would cause the Parachute Payments to be subject to the Excise Tax; provided
that the Parachute Payments shall only be reduced to the extent the after-tax value of amounts
received by Employee after application of the above reduction would exceed the after-tax value of
the amounts received without application of the reduction. For this purpose, the after-tax value
of an amount shall be determined taking into account all federal, state, and local income,
employment, and excise taxes applicable to the amount.

Subject to the next sentence, the Company shall reduce or eliminate the Parachute Payments by first
reducing or eliminating any cash severance benefits (with the payments to be made furthest in the
future being reduced first), then by reducing or eliminating any accelerated vesting of
performance-based stock options or substantially similar awards, then by reducing or eliminating

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any accelerated vesting of performance-based restricted stock awards or substantially similar
awards, then by reducing or eliminating any accelerated vesting of service-based stock options or
substantially similar awards, then by reducing or eliminating any accelerated vesting of
service-based restricted stock awards or substantially similar awards, then by reducing or
eliminating any other remaining Parachute Payments; provided, that no such reduction or elimination
shall apply to any non-qualified deferred compensation amounts (within the meaning of Section 409A)
to the extent such reduction or elimination would accelerate or defer the timing of the payment in
manner that does not comply with Section 409A. If a reduction or elimination of any Parachute
Payments is required, Employee may change the order in which the Parachute Payments are reduced or
eliminated by giving prior written notice to the Company, if such notice is consistent with the
requirements of Section 409A to avoid the imputation of any tax, penalty or interest thereunder.

An initial determination as to whether (i) any of the Parachute Payments received by Employee in
connection with the occurrence of a Change in Control shall be subject to the Excise Tax, and (ii)
the amount of any reduction, if any, that may be required under this Section 8(i) shall be made by
an independent accounting firm selected by the Company and reasonably acceptable to Employee (the
“Accounting Firm”) prior to the consummation of the Change in Control. The Employee shall be
furnished with notice of all determinations made as to the Excise Tax payable with respect to
Employee’s Parachute Payments, together with the related calculations of the Accounting Firm,
promptly after the determinations and calculations have been received by the Company.

For purposes of this Section 8(i):

(i) no portion of the Parachute Payments, the receipt or enjoyment of which the Employee
shall have effectively waived in writing prior to the date of payment of the Parachute
Payments, shall be taken into account;

(ii) no portion of the Parachute Payments shall be taken into account which in the opinion
of the Accounting Firm does not constitute a “parachute payment” within the meaning of
Section 280G(b)(2) of the Federal Tax Code;

(iii) the Parachute Payments shall be reduced only to the extent necessary so that the
Parachute Payments (other than those referred to in the immediately preceding clause (i) or
(ii)) in their entirety constitute reasonable compensation for services actually rendered
within the meaning of Section 280G(b)(4) of the Federal Tax Code or are otherwise not
subject to disallowance as deductions, in the opinion of the Accounting Firm; and

(iv) the value of any non-cash benefit or any deferred payment or benefit included in the
Parachute Payments shall be determined by the Accounting Firm based on Sections 280G and
4999 of the Federal Tax Code, or on substantial authority within the meaning of Section 6662
of the Federal Tax Code.

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          Section 9. Additional Payments. No additional payments are contemplated under this Agreement.

          Section 10. Restrictive Covenants. Employee acknowledges and agrees that (A) the agreements
and covenants contained in this Section 10 are (i) reasonable and valid in geographical and
temporal scope and in all other respects, and (ii) essential to protect the value of the Company’s
business and assets, and (B) by his employment with the Company, Employee will obtain knowledge,
contacts, know-how, training and experience and there is a substantial probability that such
knowledge, know-how, contacts, training and experience could be used to the substantial advantage
of a competitor of the Company and to the Company’s substantial detriment. For purposes of this
Section 10, references to the Company shall be deemed to include its subsidiaries.

          (a) Confidential Information. At any time during and after the end of the Term of
Employment, without the prior written consent of the Board, except to the extent required by an
order of a court having jurisdiction or under subpoena from an appropriate government agency, in
which event, Employee shall, to the extent legally permitted, consult with the Board prior to
responding to any such order or subpoena, and except as he in good faith believes necessary or
desirable in the performance of his duties hereunder, Employee shall not disclose to or use for the
benefit of any third party any Confidential Information.

          (b) Non-Competition. Employee covenants and agrees that during the Restricted Period,
Employee shall not, directly or indirectly, individually or jointly, own any interest in, operate,
join, control or participate as a partner, director, principal, officer, or agent of, enter into
the employment of, act as a consultant to, or perform any services for any Person (other than the
Company or any other member of the Company Group), that engages in any Competitive Activities
within the Restricted Area. Notwithstanding anything herein to the contrary, this Section 10(b)
shall not prevent Employee from acquiring as an investment securities representing not more than
three percent (3%) of the outstanding voting securities of any publicly-held corporation or from
being a passive investor in any mutual fund, hedge fund, private equity fund or similar pooled
account so long as Employee’s interest therein is less than three percent (3%) and he has no role
in selecting or managing investments thereof.

          (c) Non-Interference. During the Restricted Period, Employee shall not, directly or
indirectly, for his own account or for the account of any other Person, engage in Interfering
Activities.

          (d) Return of Documents. In the event of the termination of Employee’s employment for
any reason, Employee shall deliver to the Company all of (i) the property of the Company, and (ii)
the documents and data of any nature and in whatever medium of the Company, and he shall not take
with him any such property, documents or data or any reproduction thereof, or any documents
containing or pertaining to any Confidential Information.

          (e) Works for Hire. Except as may be set forth on Exhibit A, Employee agrees that the
Company shall own all right, title and interest throughout the world in and to any and all
inventions, original works of authorship, developments, concepts, know-how, improvements or trade
secrets, whether or not patentable or registrable under copyright or similar

-12-

 

laws, which Employee may solely or jointly conceive or develop or reduce to practice, or cause
to be conceived or developed or reduced to practice during the Term of Employment, whether or not
during regular working hours, provided they either (i) relate at the time of conception or
development to the actual or demonstrably proposed business or research and development activities
of any member of the Company Group; (ii) result from or relate to any work performed for the
Company or any member of the Company Group; or (iii) are developed through the use of Confidential
Information and/or Company resources or in consultation with any personnel of the Company or any
other member of the Company Group (collectively referred to as “Developments”). Employee
hereby assigns all right, title and interest in and to any and all of these Developments to the
Company. Employee agrees to assist the Company, at the Company’s expense, to further evidence,
record and perfect such assignments, and to perfect, obtain, maintain, enforce, and defend any
rights specified to be so owned or assigned. Employee hereby irrevocably designates and appoints
the Company and its agents as attorneys-in-fact to act for and on Employee’s behalf to execute and
file any document and to do all other lawfully permitted acts to further the purposes of the
foregoing with the same legal force and effect as if executed by Employee. In addition, and not in
contravention of any of the foregoing, Employee acknowledges that all original works of authorship
which are made by him (solely or jointly with others) within the scope of employment and which are
protectable by copyright are “works made for hire,” as that term is defined in the United States
Copyright Act (17 USC Sec. 101). To the extent allowed by law, this includes all rights of
paternity, integrity, disclosure and withdrawal and any other rights that may be known as or
referred to as “moral rights.” To the extent Employee retains any such moral rights under
applicable law, Employee hereby waives such moral rights and consents to any action consistent with
the terms of this Agreement with respect to such moral rights, in each case, to the full extent of
such applicable law. Employee will confirm any such waivers and consents from time to time as
requested by the Company.

          (f) Blue Pencil. If any court of competent jurisdiction shall at any time deem the
duration or the geographic scope of any of the provisions of this Section 10 unenforceable, the
other provisions of this Section 10 shall nevertheless stand and the duration and/or geographic
scope set forth herein shall be deemed to be the longest period and/or greatest size permissible by
law under the circumstances, and the parties hereto agree that such court shall reduce the time
period and/or geographic scope to permissible duration or size.

          Section 11. Breach of Restrictive Covenants.

          Without limiting the remedies available to the Company, Employee acknowledges that a breach of
any of the covenants contained in Section 10 hereof may result in material irreparable injury to
the Company Group for which there is no adequate remedy at law, that it will not be possible to
measure damages for such injuries precisely and that, in the event of such a breach or threat
thereof, the Company shall be entitled to obtain a temporary restraining order and/or a preliminary
or permanent injunction, without the necessity of proving irreparable harm or injury as a result of
such breach or threatened breach of Section 10 hereof, restraining Employee from engaging in
activities prohibited by Section 10 hereof or such other relief as may be required specifically to
enforce any of the covenants in Section 10 hereof. Notwithstanding any other provision to the
contrary, the Restricted Period shall be tolled during any period of violation of any of the
covenants in Section 10 (b) or (c) hereof and during any other period

-13-

 

required for litigation during which the Company seeks to enforce such covenants against
Employee if it is ultimately determined that Employee was in breach of such covenants.

          Section 12. Representations and Warranties of Employee.

          Employee represents and warrants to the Company that:

          (a) Employee’s employment will not conflict with or result in his breach of any agreement to
which he is a party or otherwise may be bound;

          (b) Employee has not violated, and in connection with his employment with the Company will not
violate, any non-solicitation, non-competition or other similar covenant or agreement of a prior
employer by which he is or may be bound; and

          (c) In connection with Employee’s employment with the Company, he will not use any
confidential or proprietary information that he may have obtained in connection with employment
with any prior employer.

          Section 13. Indemnification

          Subject to the terms and conditions of the Articles of Association and By-Laws of the Company
(in each case, as in effect from time to time), the Company agrees to indemnify and hold Employee
harmless to the fullest extent permitted by the laws of the State of Delaware, as in effect at the
time of the subject act or omission. In connection therewith, Employee shall be entitled to the
protection of any insurance policies which the Company elects to maintain generally for the benefit
of the Company’s directors and officers, against all costs, charges and expenses whatsoever
incurred or sustained by Employee in connection with any action, suit or proceeding to which he may
be made a party by reason of his being or having been a director, officer or employee of the
Company. This provision shall survive any termination of Employee’s employment hereunder.

          Section 14. Taxes.

          The Company may withhold from any payments made under this Agreement all applicable taxes,
including but not limited to income, employment and social insurance taxes, as shall be required by
law. Employee acknowledges and represents that the Company has not provided any tax advice to him
in connection with this Agreement and that he has been advised by the Company to seek tax advice
from his own tax advisors regarding this Agreement and payments that may be made to him pursuant to
this Agreement, including specifically, the application of the provisions of Section 409A of the
Federal Tax Code to such payments.

          Section 15. Mitigation; Set Off.

          The Company’s obligation to pay Employee the amounts provided and to make the arrangements
provided hereunder shall be subject to set-off, counterclaim or recoupment of amounts owed by
Employee to the Company or its Affiliates. Employee shall not be required to mitigate the amount
of any payment provided for pursuant to this Agreement by seeking other employment or otherwise and
the amount of any payment provided for pursuant to this

-14-

 

Agreement shall not be reduced by any compensation earned as a result of Employee’s other
employment or otherwise.

          Section 16. Additional Section 409A Provisions.

          Notwithstanding any provision in this Agreement to the contrary—

          (a) Any payment otherwise required to be made hereunder to Employee at any date as a result of
the termination of Employee’s employment shall be delayed for such period of time as may be
necessary to meet the requirements of Section 409A(a)(2)(B)(i) of the Federal Tax Code (the
“Delay Period”). On the first business day following the expiration of the Delay Period,
Employee shall be paid, in a single cash lump sum, an amount equal to the aggregate amount of all
payments delayed pursuant to the preceding sentence, and any remaining payments not so delayed
shall continue to be paid pursuant to the payment schedule set forth herein.

          (b) Each payment in a series of payments hereunder shall be deemed to be a separate payment
for purposes of Section 409A of the Federal Tax Code.

          (c) To the extent that any right to reimbursement of expenses or payment of any benefit
in-kind under this Agreement constitutes nonqualified deferred compensation (within the meaning of
Section 409A of the Federal Tax Code), (i) any such expense reimbursement shall be made by the
Company no later than the last day of the taxable year following the taxable year in which such
expense was incurred by Employee, (ii) the right to reimbursement or in-kind benefits shall not be
subject to liquidation or exchange for another benefit, and (iii) the amount of expenses eligible
for reimbursement or in-kind benefits provided during any taxable year shall not affect the
expenses eligible for reimbursement or in-kind benefits to be provided in any other taxable year;
provided, that the foregoing clause shall not be violated with regard to expenses reimbursed under
any arrangement covered by Section 105(b) of the Federal Tax Code solely because such expenses are
subject to a limit related to the period the arrangement is in effect.

          Section 17. Successors and Assigns; No Third-Party Beneficiaries.

          (a) The Company. This Agreement shall inure to the benefit of and be enforceable by,
and may be assigned by the Company to, any purchaser of all or substantially all of the Company’s
business or assets or any successor to the Company (whether direct or indirect, by purchase,
merger, consolidation or otherwise). The Company will require in a writing delivered to Employee
that any such purchaser, successor or assignee to expressly assume and agree to perform this
Agreement in the same manner and to the same extent that the Company would be required to perform
it if no such purchase, succession or assignment had taken place. The Company may make no other
assignment of this Agreement or its obligations hereunder.

          (b) Employee. Employee’s rights and obligations under this Agreement shall not be
transferable by Employee by assignment or otherwise, without the prior written consent of the
Company; provided, however, that if Employee shall die, all amounts then payable to
Employee hereunder shall be paid in accordance with the terms of this Agreement to Employee’s
devisee, legatee or other designee or, if there be no such designee, to Employee’s estate.

-15-

 

          (c) No Third-Party Beneficiaries. Except as otherwise set forth in Section 8(b) or
Section 17(b) hereof, nothing expressed or referred to in this Agreement will be construed to give
any Person other than the Company and Employee any legal or equitable right, remedy or claim under
or with respect to this Agreement or any provision of this Agreement.

          Section 18. Waiver and Amendments.

          Any waiver, alteration, amendment or modification of any of the terms of this Agreement shall
be valid only if made in writing and signed by each of the parties hereto; provided,
however, that any such waiver, alteration, amendment or modification is consented to on the
Company’s behalf by the Board. No waiver by either of the parties hereto of their rights hereunder
shall be deemed to constitute a waiver with respect to any subsequent occurrences or transactions
hereunder unless such waiver specifically states that it is to be construed as a continuing waiver.

          Section 19. Severability.

          If any covenants or other provisions of this Agreement are found to be invalid or
unenforceable by a final determination of a court of competent jurisdiction: (a) the remaining
terms and provisions hereof shall be unimpaired, and (b) the invalid or unenforceable term or
provision hereof shall be deemed replaced by a term or provision that is valid and enforceable and
that comes closest to expressing the intention of the invalid or unenforceable term or provision
hereof.

          Section 20. Governing Law.

          THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
GEORGIA (WITHOUT GIVING EFFECT TO THE CHOICE OF LAW PRINCIPLES THEREOF) APPLICABLE TO CONTRACTS
MADE AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE. All actions and proceedings arising out of or
relating to this Agreement shall be heard and determined in any Georgia state or federal court
sitting in the state of Georgia, and the parties hereto hereby consent to the jurisdiction of such
courts in any such action or proceeding.

          Section 21. Notices.

          (a) Every notice or other communication relating to this Agreement shall be in writing, and
shall be mailed to or delivered to the party for whom it is intended at such address as may from
time to time be designated by it in a notice mailed or delivered to the other party as herein
provided, provided that, unless and until some other address be so designated, all notices or
communications by Employee to the Company shall be mailed or delivered to the Company at its
principal executive office, and all notices or communications by the Company to Employee may be
given to Employee personally or may be mailed to Employee at Employee’s last known address, as
reflected in the Company’s records.

          (b) Any notice so addressed shall be deemed to be given: (i) if delivered by hand, on the
date of such delivery; (ii) if mailed by courier or by overnight mail, on the first

-16-

 

business day following the date of such mailing; and (iii) if mailed by registered or
certified mail, on the third business day after the date of such mailing.

          Section 22. Section Headings.

          The headings of the sections and subsections of this Agreement are inserted for convenience
only and shall not be deemed to constitute a part thereof, affect the meaning or interpretation of
this Agreement or of any term or provision hereof.

          Section 23. Entire Agreement.

          This Agreement constitutes the entire understanding and agreement of the parties hereto
regarding the employment of Employee. This Agreement supersedes all prior negotiations,
discussions, correspondence, communications, understandings and agreements between the parties
relating to the subject matter of this Agreement, including but not limited to the Employment
Agreement between Employee and MedAssets, Inc. dated August 21, 2007, which was later assigned by
MedAssets, Inc. to and assumed by the Company on September 1, 2009.

          Section 24. Survival of Operative Sections.

          Upon any termination of Employee’s employment, the provisions of Section 8 through Section 25
of this Agreement (together with any related definitions set forth in Section 1 hereof) shall
survive to the extent necessary to give effect to the provisions thereof.

          Section 25. Counterparts.

          This Agreement may be executed in two or more counterparts, each of which shall be deemed to
be an original but all of which together shall constitute one and the same instrument. The
execution of this Agreement may be by actual or facsimile signature.

* * *

[Signatures to appear on the following page.]

-17-

 

          IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first above
written.

	 	 	 	 	 
	 	MedAssets Services, LLC

 	 
	 	By: 	/s/ Jonathan H. Glenn
 	 
	 	 	 	Jonathan H. Glenn 	 
	 	 	Title:  	Vice President and Secretary 	 
	 
	 	EMPLOYEE

 	 
	 	  	/s/ Lance M. Culbreth
 	 
	 	 	Lance M. Culbreth 	 
	 	 	 	 

-18-

 

EXHIBIT A

None.

-19-exv10w4

EXHIBIT 10.4

Confidential

Confidential treatment has been requested for portions of this exhibit. The copy filed herewith omits the

information subject to the confidentiality request. Omissions are designated as [***]. A complete version of this

exhibit has been filed separately with the Securities and Exchange Commission.

CONFIDENTIAL SEVERANCE AND GENERAL RELEASE AGREEMENT

     THIS CONFIDENTIAL SEVERANCE AND GENERAL RELEASE AGREEMENT (this “Agreement”) is entered into
as of the last date set forth on the signature page hereto, and is made effective as of May 21,
2011 (the “Effective Date”), by and between Anil Mankar (“Employee”) and Mindspeed Technologies,
Inc., a Delaware corporation (“Mindspeed”).

RECITALS

     WHEREAS, Employee is currently employed by Mindspeed as Senior Vice President Very Large Scale
Integration (“VLSI”), under an Employment Agreement dated August 20, 2008;

     WHEREAS, Employee and Mindspeed wish to arrange for Employee’s separation from employment with
Mindspeed on mutually agreeable terms and conditions as set forth in this Agreement;

     ACCORDINGLY, the parties agree as follows:

     1. Termination. Employee will cease active full-time employment with Mindspeed on the
Effective Date. Employee shall be available as reasonably necessary to respond and assist with
various VLSI transition activities throughout the Salary Continuation Period (as defined in
Paragraph 3 below) and the Unpaid LOA Period (as defined in Paragraph 3 below). Effective
immediately upon the close of business on the Termination Date (as defined in Paragraph 4 below),
Employee and Mindspeed will terminate their employment relationship altogether. Employee and
Mindspeed expressly acknowledge and agree that, although the termination of Employee’s employment
will not take ultimate effect until the Termination Date, the final decision to terminate such
employment has already been made and communicated as of the date of execution of this Agreement.
Employee acknowledges and agrees that he has no expectation of active employment with Mindspeed
beyond the Effective Date, or of any employment relationship with Mindspeed beyond the Termination
Date.

     2. Resignation. As of the Effective Date, Employee hereby resigns his position as an
officer of Mindspeed

 

 

     3. Settlement Sum. In consideration of Employee’s representations and releases in
this Agreement, Mindspeed will provide Employee with salary continuation pay at Employee’s current
salary level of $9,490.38 bi-weekly (less applicable withholdings) for twelve (12) weeks beginning
on May 21, 2011, and continuing through August 14, 2011 (the “Salary Continuation Period”). You
are also given the option to one-half Employee’s current salary level, equal to $4,745.19 per week
(less applicable withholdings) payable over Twenty-four (24) weeks beginning on May 21, 2011, and
continuing through November 24,, 2011 (the “Salary Continuation Period”). The salary continuation
payments will be made in accordance with Mindspeed’s bi-weekly payroll schedule. At the end of
the Salary Continuation Period, Employee’s final salary continuation check will be paid along with
all accrued, unused vacation, unless Employee opts to extend the Salary Continuation Period by
applying unused accrued vacation. Employee will not accrue additional vacation hours after the
Effective Date. During the Salary Continuation Period, Mindspeed will continue to (a) pay the
premiums for Employee’s coverage under benefit plans in which Employee is enrolled as of the
Effective Date, including Mindspeed’s group medical, dental and vision insurance plans, which
coverage may be provided under COBRA at Mindspeed’s election, subject to Employee’s payment of any
employee contributions that would have applied if Employee had remained an officer of Mindspeed;
and (b) pay the costs of Employee’s annual executive physical examination, health club membership
and one airline club, to the same extent as if Employee had remained an officer of Mindspeed during
such period. Employee’s coverage under Mindspeed’s life, long-term disability, group personal
excess liability and any supplemental insurance plans and Employee’s participation in Mindspeed’s
401(k) plan end on the Effective Date. Additionally, Mindspeed will provide Employee with
outplacement assistance for a period of six (6) months following the Effective Date at Mindspeed’s
expense through Right Management Consultants, or a similar firm, at the selected firm’s office
location. The foregoing payments and benefits will be referred to collectively as the “Settlement
Sum,” and the parties hereto agree that the Settlement Sum provides Employee with full recompense
for any and all claims for lost or unpaid wages, benefits, damages, interest and any other claim
related to Employee’s employment or to the separation of such employment.

     4.
Stock Plans. Upon the termination of Employee’s employment from Mindspeed at the close
of business on the last day of the Salary Continuation Period (the “Termination Date”), all stock
options for Mindspeed stock that have been granted to Employee under any of Mindspeed’s stock plans
and which are not vested as of the Termination Date, shall immediately expire and shall not be
exercisable under any circumstances. Any such options that are vested as of the Termination Date
shall be exercisable for the period of time specified in the terms of the option following the
Termination Date and shall expire and shall not be exercisable at the end of such period if they
are not exercised within such period. All unearned restricted stock as of the Termination Date,
together with any dividends thereon, shall be forfeited, and Employee shall have no further rights
of any kind or nature with respect thereto. Employee’s Mindspeed stock option and restricted stock
awards outstanding as of the Effective Date are detailed in the attached Schedule A.

 

 

Confidential treatment has been requested for portions of this exhibit. The copy filed herewith omits the

information subject to the confidentiality request. Omissions are designated as [***]. A complete version of this

exhibit has been filed separately with the Securities and Exchange Commission.

     5. No Section 16 Reporting. Employee understands and agrees that, as of the Effective
Date, Employee shall no longer be a Section 16 officer of Mindspeed and all such reporting by
Mindspeed on Employee’s behalf shall cease.

     6. Mindspeed Proprietary Information. Employee represents, understands and agrees
that he is subject to that certain Employment Agreement, dated August 20, 2008, regarding
Mindspeed’s proprietary information, which he executed in connection with his employment with
Mindspeed, and that the provisions which survive his employment are enforceable and remain in full
force and effect. Employee represents, as a material inducement to Mindspeed to enter into this
Agreement, that he has not and will not disclose, use or misappropriate any confidential,
proprietary or trade secret information of Mindspeed to the press, customers, analysts, investors
or competitors. This representation includes, but is not limited to, product roadmaps, customer
lists, design wins and employee lists. Mindspeed acknowledges that Employee’s employment with any
of its competitors, in and of itself, will not constitute disclosure. Mindspeed further
acknowledges that the act of meeting with a Mindspeed customer, in and of itself, will not
constitute disclosure, use or misappropriation of Mindspeed proprietary information.

     7. Termination of Agreement. Employee’s change of control Employment Agreement, if
any, by and between Mindspeed and Employee, shall be terminated, and no longer in effect as of the
Effective Date.

     8. Non-Compete. During the Salary Continuation Period and, Employee agrees not to
perform services for a division or unit of one of the following companies directly competing with
Mindspeed:

[***]

[***]

[***]

In the event of Employee’s breach of this Paragraph 8, in addition to any other remedy available by
law, Mindspeed may immediately terminate Employee’s employment for cause, and Employee shall
forfeit any unpaid remainder of the Settlement Sum. During the Salary Continuation Period,
Employee shall be permitted to perform services for one of the foregoing companies in portions of
their operations that do not directly involve WAN markets and technologies, including a Chief
Executive Officer, Chief Operating Officer, or “Group” executive role with responsibility for
multiple business units, provided that Employee complies with his obligations under this Paragraph
8.

 

 

     9. Non-Solicit. Employee acknowledges that, because of his position at Mindspeed, he
has access to Mindspeed’s business strategies, information regarding customers and employees, and
other valuable proprietary information and trade secrets, and that misuse or disclosure of such
proprietary information and trade secrets would be extremely difficult to detect or prove.
Accordingly, Employee agrees that the following restrictions are necessary to protect Mindspeed’s
trade secrets. Employee agrees that, during the Salary Continuation Period, the Unpaid LOA and for
a period of twelve (12) months after the Termination Date, Employee shall not directly or
indirectly solicit, induce, recruit or encourage any person employed by Mindspeed to terminate his
or her employment.

     10. No Further Claims. Employee agrees that he is not entitled to receive, and will
not claim, any additional right, benefit, payment or compensation, including but not limited to,
any claim for wages, benefits, damages, interest, attorneys fees and costs, other than what is
expressly set forth in Paragraph 3 above, and hereby expressly waives any right to additional
rights, benefits, payments or compensation. Employee further acknowledges that Mindspeed makes
this Agreement without any admission of liability, and agrees, to the extent permissible by law,
that he will not defame, disparage or make false or deceptive allegations against Mindspeed,
whether to the press, employees, customers, investors or otherwise. Any breach by Employee of this
Paragraph 10 shall constitute cause for termination, and Employee agrees that his employment shall
be terminated immediately upon such breach. In the case of such termination, Employee shall not
receive any unpaid remainder of the Settlement Sum (including the benefits described as part of the
Settlement Sum in Paragraph 3 above). Such termination shall also be the equivalent of the
“Termination Date” for purposes of Paragraph 4 above. For their part, the specific Mindspeed
executives aware of this Agreement, Raouf Y. Halim and Allison K. Garcia, agree not to defame,
disparage or make false or deceptive allegations against Employee, whether to the press, employees,
customers, investors or otherwise, or furthermore to knowingly allow other Mindspeed employees to
defame or disparage Employee. Employee should direct all prospective employment inquiries or
requests for employment references to either Mr. Halim or Ms. Garcia.

     11. Release. In exchange for the Settlement Sum, Employee agrees to, and by signing
this Agreement does, waive and release all claims (known and unknown) which he might otherwise have
had against Mindspeed and each of its past and present employees, officers, directors, agents,
representatives, attorneys, insurers, related entities, assigns, successors, and predecessors of
Mindspeed, and all persons acting by, through, under or in concert with any of them (collectively,
the “Releasees”), from any and all charges, complaints, claims, liabilities, obligations, promises,
agreements, controversies, damages, actions, causes of action, suits, rights, demands, costs,
losses, debts and expenses (including back wages, and attorneys’ fees and costs actually incurred)
of any nature whatsoever, known or unknown, suspected or unsuspected, including, but not limited
to, rights arising out of alleged violations of any contract, express or implied (including but not
limited to any contract of employment, partnership, independent contractor, fiduciary, special or
confidential relationship); any covenant of good faith and fair

 

 

dealing (express or implied); any tort, including fraud and deceit, negligent
misrepresentation, promise without intent to perform, conversion, breach of fiduciary duty,
defamation, libel, slander, invasion of privacy, negligence, intentional or negligent infliction of
emotional distress, malicious prosecution, abuse of process, intentional or negligent interference
with prospective economic advantage and conspiracy; any “wrongful discharge” and “constructive
discharge” claims; any claims relating to any breach of public policy; any violations or breaches
of corporate by-laws; any legal restrictions on Mindspeed’s right to terminate employees or take
other employment actions; or any federal, state, local, municipal or other governmental statute,
regulation or ordinance, including, without limitation, Title VII of the Civil Rights Act of 1964,
the California Fair Employment and Housing Act, the Americans with Disabilities Act, and the Age
Discrimination in Employment Act (collectively “Claim” or “Claims”) arising prior to the execution
of this Agreement. This Agreement does not waive (and the definition of “Claims” does not
include) claims for workers’ compensation or unemployment insurance, claims for reimbursement under
Labor Code Section 2802 or claims that may not be waived as a matter of state or federal law. In
addition, this Agreement does not limit Employee’s right to file a charge or complaint with any
state or federal agency or to participate or cooperate in such a matter, although Employee waives
and relinquishes all rights to any monetary relief related to any such matter.

     12. Waiver. Employee expressly waives and relinquishes all rights and benefits
afforded by Section 1542 of the Civil Code of the State of California, and does so understanding
and acknowledging the significance of such specific waiver of Section 1542. Section 1542 of the
Civil Code of the State of California states as follows:

“A general release does not extend to claims which the creditor does
not know or suspect to exist in his or her favor at the time of
executing the release, which if known by him or her must have
materially affected his or her settlement with the debtor.”

Thus, notwithstanding the provisions of Section 1542, and for the purpose of implementing a full
and complete release and discharge of all Releasees, Employee expressly acknowledges that this
Agreement is intended to include in its effect, without limitation, all Claims which Employee does
not know or suspect to exist in his favor against the Releasees, or any of them, at the time of
execution hereof, and that this Agreement contemplates the extinguishment of any such Claim or
Claims. If Employee hereafter institutes any legal action against the Releasees, and each of them
(except to enforce the specific provisions of this Agreement or for any future cause of action
unrelated to Employee’s employment with Mindspeed or its predecessor companies), Mindspeed shall be
entitled to payment from Employee of all costs, expenses and attorney’s fees incurred as a result
of such legal action.

5

 

     13. No Other Promises. This Agreement contains all of the terms, promises,
representations and understandings made between the parties. Employee agrees that no promises,
representations or inducements have been made to him which caused him to sign this Agreement other
than those which are expressly set forth above herein.

     14. Confidentiality. Employee represents and agrees that, with the exception of any
civil judicial action where disclosure of this Agreement is ordered by the court, or where
disclosure is compelled by law or government audit, he has and will keep the nature, terms and
existence of this Agreement and the Settlement Sum strictly confidential, and that he has not and
will not disclose, discuss or reveal any information concerning the nature, terms and existence of
this Agreement and the Settlement Sum to any other person, entity or organization, except that
Employee may disclose this information to his legal counsel, spouse and professional accountant.
Employee is to advise Mindspeed of any request or demand for disclosure in any civil judicial
action immediately upon learning of it so Mindspeed will be afforded a full opportunity to
intervene, to object and to take any other action necessary to protect the confidentiality of this
Agreement and the Settlement Sum. Employee acknowledges and agrees that Mindspeed is permitted to
disclose this Agreement and the Settlement Sum in order to comply with any Securities and Exchange
Commission or stock exchange disclosure requirements.

     15. Representations. Employee acknowledges that he has been advised to carefully
consider all of the provisions in this Agreement before signing it. Employee represents,
acknowledges and agrees that he has fully discussed all aspects of this Agreement with his
attorneys to the full extent he so desired; that Employee has carefully read and fully understands
all of the provisions of this Agreement; that Employee has taken as much time as he needs for full
consideration of this Agreement; that Employee fully understands that this Agreement releases all
of his claims, both known and unknown, against the Releasees; that Employee is voluntarily entering
into this Agreement; and that Employee has the capacity to enter into this Agreement.

     16. Age Discrimination. Employee understands that he has a period of twenty-one (21)
days to review and consider his release of his claims of age discrimination under the Age
Discrimination in Employment Act (“ADEA”) before signing this Agreement. Employee further
understands that he may use as much or as little of this twenty-one (21) day period as he wishes to
prior to signing this Agreement. Employee also understands that after he signs this Agreement he
is given seven (7) days within which to revoke the portion of this Agreement releasing his claims
under the ADEA and Mindspeed encourages Employee to seek the advice of counsel concerning his
revocation rights. Such revocation, to be valid, must be in writing and received by Mindspeed
within the seven (7) day revocation period.

6

 

     17. No Other Representations. Employee represents and acknowledges that in executing
this Agreement, he does not rely and has not relied upon any representation or statement not set
forth in this Agreement made by Mindspeed, the Releasees, or by any of their agents,
representatives or attorneys with regard to the subject matter, basis or effect of this Agreement.

     18. No Admission of Liability. This Agreement shall not in any way be construed as an
admission by Mindspeed that it has acted wrongfully with respect to Employee or any other person,
or that Employee or any other person has any rights whatsoever against Mindspeed. Mindspeed
specifically disclaims any liability to or wrongful acts against Employee or any other person, on
the part of itself, its agents or its employees, past or present.

     19. Compliance with Laws. Employee represents that he has fulfilled his ethical,
legal and professional responsibilities to Mindspeed, that he has not at any time known or been
complicit in any financial reporting certification or board action taken in anything other than the
best interest of Mindspeed stockholders, and that he is not aware of any liabilities, obligations,
noncompliance with legal requirements (including, but not limited to, noncompliance with The
Sarbanes-Oxley Act or any applicable securities regulations) or exposure of any kind on the part of
Mindspeed that he has not, as of the date of this Agreement, brought to the attention of Mindspeed.

     20. Severability. The provisions of this Agreement are severable, and if any part of
it is found to be unenforceable, the other sections shall remain fully valid and enforceable. This
Agreement shall survive the termination of any arrangements contained herein.

     21. Governing Law. This Agreement is made and entered into in the State of
California, and shall in all respects be interpreted, enforced and governed by and under the laws
of the State of California.

     22. Entire Agreement. This Agreement sets forth the entire agreement between the
parties hereto, and fully supersedes any and all prior agreements or understandings between the
parties hereto pertaining to the subject matter of this Agreement. This Agreement may not be
modified, waived, rescinded or amended in any manner, except by a writing executed by all parties
to this Agreement which clearly and specifically modifies, waives, rescinds or amends this
Agreement. This Agreement is intended to comply with the provisions of Internal Revenue Code
Section 409A (“Code Section 409A”) and, accordingly, the parties agree to amend this Agreement in
good faith to the extent necessary to make this Agreement comply with Code Section 409A; provided,
however, that Mindspeed makes no representation that the

7

 

amounts payable under this Agreement will comply with Code Section 409A and makes no
undertaking to prevent Code Section 409A from applying to the amounts payable under this Agreement
or to mitigate its effects on any payments made under this Agreement.

     23. Successors and Assigns. This Agreement shall be binding upon Employee and
Mindspeed and upon their respective heirs, administrators, representatives, executors, successors
and assigns, and shall inure to the benefit of Employee and Mindspeed and the other Releasees and
their related entities.

     24. No Assignment of Claims. Employee represents and warrants that he has not
heretofore assigned or otherwise transferred or subrogated, or purported to assign, transfer or
subrogate, to any person or entity, any Claim or portion thereof, or interest therein he may have
against the Releasees, and he agrees to indemnify, defend and hold the Releasees harmless from and
against any and all liability, loss, demands, claims, damages, costs, expenses or attorneys’ fees
incurred by the Releasees as the result of any person or entity asserting any such right,
assignment, transfer or subrogation.

     25. Execution in Counterparts. This Agreement may be executed in one or more
counterparts, any one of which shall be deemed to be the original even if the others are not
produced.

     26. Joint Preparation of this Agreement. Each party has had the opportunity to
revise, comment upon and redraft this Agreement. Accordingly, it is agreed that no rule of
construction shall apply against any party or in favor of any party. This Agreement shall be
construed as if the parties jointly prepared this Agreement, and any uncertainty or ambiguity shall
not be interpreted against any one party and in favor of the other.

     27. Further Actions. The parties hereto, without further consideration, shall execute
and deliver such other documents and take such other actions as may be necessary to achieve the
objectives of this Agreement. Employee further agrees to cooperate fully in the transition of
matters under his responsibility, and to make himself reasonably available, as necessary, to answer
questions or assist in such transitions.

     PLEASE READ CAREFULLY. THIS CONFIDENTIAL SEVERANCE AND GENERAL RELEASE AGREEMENT INCLUDES A
RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS.

[Remainder of page intentionally left blank.]

8

 

	 	 	 	 	 
	 	 	 
	Dated: May 20, 2011 	By:  	/s/ Anil Mankar
 	 
	 	 	Anil Mankar 	 
	 	 	Senior Vice President, VLSI 	 
	 
	 	MINDSPEED TECHNOLOGIES, INC.

 	 
	Dated: May 25, 2011 	/s/ Allison K. Garcia
 	 
	 	Allison K. Garcia 	 
	 	SVP, Human Resources 	 
	 

9

 

SCHEDULE A

(Attached hereto)

10

 

	Optionee Detail Report05/04/2011MINDSPEED TECHNOLOGIES, INC.(MSPD) All Participants Alphabetically (Active & Inactive) Participant Name Participant !D # /
Employee ID # / Employee Status / Location Code / Locale / Division / Section 16B / Insider / Term Code / Term Date Product Type / Grant Type / Plan ID I Plan
Name / Client Grant ID/ Product IDGrantExpiry Options GrantOptions Shares Date DateGranted Price Outstanding Exercisable ExerciseOptions ExerciseDate —
Type Exercised PriceVesting Shares Date Vested CancelShares Date — Type Cancelled MANKAR, ANIL S 466756932 / 600681 / Active / 645 / Domestic / / Section 16: Yes /
insider: Yes / / SO / NQ / MSPOP / MINDSPEED STOCK OPTION PL / 0000007557 / 2003-14 12/06/1995 12/06/2005 107$7,2235 $109.840 0 SO / NQ / MSPOP / MINDSPEED STOCK OPTION
PL / 0000007558 / 2003-14 12/09/1996 12/09/2006 291 $9.12 $-0 0SO / NQ / MSPOP / MINDSPEED STOCK OPTION PL / 0000007559 / 2003-14 12/05/1997 12/05/2007 1,063 $8.5125
$- 0 0 SO / NQ / MSPOP / MINDSPEED STOCK OPTION PL / 0000007560 / 2003-21 01/04/1999 01/04/2009 2,817 $9.473$-0 0 01/04/2009- C2,817Fidelity Stock Plan Services
LLC Page 1 of 12

 

 

	Optionee Detail Report05/04/2011MINDSPEED TECHNOLOGIES, INC.(MSPD) All Participants Alphabetically (Active & Inactive) Participant Name Participant !D # /
Employee ID # / Employee Status / Location Code / Locale / Division / Section 16B / Insider / Term Code / Term Date Product Type / Grant Type / Plan ID I Plan
Name / Client Grant ID/ Product IDGrantExpiry Options GrantOptions Shares Date DateGranted Price Outstanding Exercisable ExerciseOptions ExerciseDate —
Type Exercised PriceVesting Shares Date Vested CancelShares Date — Type Cancelled MANKAR, ANIL S466756932 / 600681 / Active / 645 / Domestic / / Section 16: Yes /
Insider Yes / / SO / NQ / MSPOP / MINDSPEED STOCK OPTION PL / 0000007561 / 2003-21 01/04/1999 01/03/2009 543 $9.473 0 0- —  SO / NQ / MSPOP / MINDSPEED STOCK
OPTION PL / 0000031132 / 2003-21 10/27/2000 08/23/2009 425 $22.0295 0 0 05/15/2009- C 425 —  — - SO / NQ / MSPOP / MINDSPEED STOCK OPTION PL / 0000032043 /
2003-27 01/02/2001 01/02/2009 358 $12.9030 0 01/02/2009- F 89 01/02/2009- C 90 01/02/2009- C 90 01/02/2009 -C89 —  Fidelity Stock Plan Services LLC
Page 2 of 12

 

 

	Optionee Detail Report05/04/2011MINDSPEED TECHNOLOGIES, INC.(MSPD) All Participants Alphabetically (Active & Inactive) Participant Name Participant !D # /
Employee ID # / Employee Status / Location Code / Locale / Division / Section 16B / Insider / Term Code / Term Date Product Type / Grant Type / Plan ID I Plan
Name / Client Grant ID/ Product IDGrantExpiry Options GrantOptions Shares Date DateGranted Price Outstanding Exercisable ExerciseOptions
ExerciseDate — Type Exercised PriceVesting Shares Date Vested CancelShares Date — Type Cancelled MANKAR, ANIL S Dale — TypeCancelled 466756932 / 600681 /
Active / 645 / Domestic / / Section 16: Yes / Insider: Yes / / SO / NQ / MSPOP / MINDSPEED STOCK OPTION PL / 0000034839 / 2003-27 03/30/200103/30/20091,787$9.001
00 SO / NQ / MSPOP / MINDSPEED STOCK OPTION PL / 0000015392 / 2003-2703/30/2009 — c 1,78704/03/200208/23/20091,430$11.793 00 05/15/2009 — c 1,430 SO / NQ / MSPOP /
MINDSPEED STOCK OPTION PL / 0000021795 / 2003-2704/03/200208/23/20091,609$11.793 00 05/15/2009 — c 1,609  —  —  — -Fidelity Stock Plan Services LLC Page 3 of 12

 

 

	Optionee Detail Report05/04/2011MINDSPEED TECHNOLOGIES, INC.(MSPD) All Participants Alphabetically (Active & Inactive) Participant Name Participant !D # /
Employee ID # / Employee Status / Location Code / Locale / Division / Section 16B / Insider / Term Code / Term Date Product Type / Grant Type / Plan ID I Plan Name /
Client Grant ID/ Product IDGrantExpiry Options GrantOptions Shares Date DateGranted Price Outstanding Exercisable ExerciseOptions ExerciseDate — Type
Exercised PriceVesting Shares Date Vested CancelShares Date — Type Cancelled MANKAR, AN:LS 466756932 / 600681 / Active / 645 / Domestic / / Section 16: Yes /
Insider: Yes / /SO / NQ / MSPOP / MINDSPEED STOCK OPTION PL / 25842998 / 2003-27 11/04/200208/23/2009 2,860$4848 0 0 05/15/2009- F 715 05/15/2009- F 715
05/15/2009- F 715 05/15/2009- F 715 — Fidelity Stock Plan Services LLC Page 4 of 12

 

 

	Optionee Detail Report05/04/2011MINDSPEED TECHNOLOGIES, INC.(MSPD) All Participants Alphabetically (Active & Inactive) Participant Name Participant !D # /
Employee ID # / Employee Status / Location Code / Locale / Division / Section 16B / Insider / Term Code / Term Date Product Type / Grant Type / Plan ID I
Plan Name / Client Grant ID/ Product IDGrantExpiry Options GrantOptions Shares Date DateGranted Price Outstanding Exercisable ExerciseOptions
ExerciseDate — Type Exercised PriceVesting Shares Date Vested CancelShares Date — Type CancelledDate • Type Cancelled- MANKAR, ANIL S 466756932 / 600681 /
Active / 645 / Domestic / / Section 16: Yes / Insider: Yes / /SO / NQ / MSPOP / MINDSPEED STOCK OPTION PL / 0825200000001 / 2003LT-70 08/29/200808/29/2016
20,000 $3,65 14,834 8,167 02/14/2011-S2,500 $8.1516 05/30/2011 417 05/12/2010-S2,250 $10.0006/30/2011 416 05/12/2010-S416 $10.0007/30/2011 41708/30/2011
41709/30/201 141610/30/2011 41711/30/2011 417 -12/30/2011 416 01/30/2012 417 (02/29/2012 4I7 -03/30/2012 41604/30/2012 41705/30/2012 41706/30/2012 41607/30/2012
41708/30/2012 417 Fidelity StockPlan ServicesLLC Pago 5 of12

 

 

	Optionee Detail Report 05/04/2011 MINDSPEED TECHNOLOGIES, INC. (MSPD) All Participants Alphabetically (Active & Inactive) Participant NameParticipant ID # I
Employee ID # / Employee Status / Location Code / Locale / Division / Section 16B / Insider / Term Code / Term Date Product Type / Grant Type / Plan ID /
Plan Name / Client Grant ID/ Product ID Grant Expiry Options Grant Options SharesDate Date Granted Price OutstandingExercisable            Exercise Options Exercise
Date — Type ExercisedPrice Vesting Shares• Date Vested’  — - -CancelSharesDate — Type Cancelled MANKAR, ANIL S466756932 / 600681 / Active / 645 / Domestic / /
Section 16: Yes / Insider: Yes / /SO / NQ / MSPOP / MINDSPEED STOCK OPTION PL / 0325200000001 / 2003LT-7008/30/2008 08/30/2016 0 $3.65 00  —  —  SO / NQ / MSPOP /
MINDSPEED STOCK OPTION PL / 091 5400000175 / 2003LT-7004/30/2009 04/30/2017 35,000 $2.12 29,166 17,498- 02/14/2011  — S 5,834 $8.13267/30/2011 2,917110/30/2011 2,916  —
31/30/2012 2.917 — 04/30/2012 2,918 -SO / NQ / MSPOP / MINDSPEED STOCK OPTION PL / 0915300000399 / 2003-2105/15/2009 08/23/2009 56$1.70 0008/23/2009  —  C56 -Fidelity
Stock Plan Services LLC Page 6 of 12

 

 

	Optionee Detail Report 05/04/2011 MINDSPEED TECHNOLOGIES, INC. (MSPD)All Participants Alphabetically (Active & Inactive)Participant Name Participant ID # / Employee ID # /
Employee Status / Location Code / Locale / Division / Section 16B / Insider / Term Code / Term Date Product Type / Grant Type / Plan ID / Plan Name / Client Grant ID/
Product ID GrantExpiryOptions GrantOptionsShares DateDate Granted PriceOutstandingExercisable  —  — Exercise Options Exercise Date — Type Exercised Price Vesting
Shares DateVested  —  Cancel Shares Date — Type Cancelled MANKAR, ANIL S466756932 / 600681 / Active / 645 / Domestic / / Section 16: Yes / Insider: Yes / /SO / NQ / MSPOP /
MINDSPEED STOCK OPTION PL / 0915300000400 / 2003-27 05/15/200908/23/2009408 $1.70 0 0 08/23/2009 .C408- SO / NQ / MSPOP / MINDSPEED STOCK OPTION PL / 0915300000401 /
2003-27 05/15/200908/23/2009459 $1.70 0 0 08/23/2009 -C459 - — - SO / NO / MSPOP / MINDSPEED STOCK OPTION PL / 0915300000402 / 2003-27 05/15/200908/23/2009 1,040
$1.70 0 0 08/23/2009 -C 1,040  — Fidelity Stock Plan Services LLC Page 7 of 12

 

 

	Optionee Detail Report 05/04/2011 MINDSPEED TECHNOLOGIES, INC. (MSPD)Ail Participants Alphabetically (Active & Inactive)Participant Name Participant ID # /
Employee ID # / Employee Status / Location Code / Locale / Division / Section 16B / Insider / Term Code / Term Date Product Type / Grant Type / Plan ID /
Plan Name / Client Grant ID/ Product ID Grant Expiry OptionsGrant Options Shares Date Date GrantedPrice OutstandingExercisable— Exercise 0 ptions
ExerciseDate — Type Ex ercised Price —  Vesting Shares Date Vested  —  Cancel Shares Date — Type Cancelled MANKAR, ANIL S466756932 / 600681 / Active /
645 / Domestic / / Section 16: Yes / Insider: Yes / /SO / NQ / MSPOP / MINDSPEED STOCK OPTION PL / 0934800000010 / 2003LT-7011/20/2009 11/20/2017 20,000
$4.3513,334 1,66702/14/2011  — S6,666$8,106205/20/2011 1,667 08/20/2011 1,6665,000 11/20/2011 1,667 —  02/20/2012 1,667 —  05/20/2012 1,666 08/20/2012
1,667 11/20/2012 1,667 —  Fidelity Stock Plan Services LLC Page 8 of 12

 

 

	Optionee Detail Report05/04/2011 MINDSPEED TECHNOLOGIES, INC. (MSPD) All Participants Alphabetically (Active & inactive)Participant Name Participant ID # /
Employee ID # / Employee Status / Location Code / Locale / Division / Section 16B / Insider / Term Code / Term Date —  Product Type / Grant Type / Plan ID /
Plan Name / Client Grant ID/ Product ID GrantExpiryOptions GrantOptions Shares .. DateDate Granted PriceOutstandingExercisable- — - Exercise Options
Exercise Date — Type Exercised Price — - VestingShares DateVestedCancelShares Date — Type Cancelled- MANKAR, ANIL S 466756932 / 600681 / Active / 645 /
Domestic / / Section 16: Yes / Insider: Yes / / SO / NQ / MSPOP / MINDSPEED STOCK OPTION PL / 1032000000186 / 2003LT-70 11/05/2010 11/05/2018 10,000$6.4010,000
0 11/05/20113,333— 12/05/2011277- 01/05/2012278. 02/05/2012278 . 03/05/2012 278 04/05/2012 277 05/05/2012 278 06/05/2012 278 07/05/2012 278 OS/05/2012
278 09/05/2012 277 10/05/2012 278 11/05/2012 278 12/05/2012 278 01/05/2013 278 02/05/2013 277 03/05/2013 278 04/05/2013 278 05/05/2013 278 06/05/2013
278 07/05/2013 277Fidelity StockPlan ServicesLLC Page 9 of 12

 

 

	Optionee Detail Report05/04/2011 MINDSPEED TECHNOLOGIES, INC. (MSPD) All Participants Alphabetically (Active & Inactive)Participant Name Participant ID #/
Employee ID #/ Employee Status /Location Code/ Locale / Division /Section 16B / Insider / Term Code /Term Date Product Type / Grant Type / Plan ID / Plan Name /
Client Grant ID/ Product ID GrantExpiry Options GrantOptions SharesDate DateGranted PriceOutstanding Exercisable  —  -Exercise Options Exercise Date — Type
Exercised PriceVestingShares . DateVested- CancelSharesDate — Type CancelledMANKAR, ANIL S466756932 / 600681 / Active / 645 / Domestic / / Section 16: Yes /
Insider: Yes / / 08/05/201327809/05/201327810/05/201327811/05/2013278 RA / RSA / MSPRS / MINDSPEED RESTRICTED STK / 0825200000002 / 2003RS-74 08/29/2008
10,000 $0.000 0  — -RA / RSA / MSPRS / MINDSPEED RESTRICTED STK / 0825200000002 / 2003RS-74 08/30/20080$0.000 0 -RA / RSA / MSPRS / MINDSPEED RESTRICTED
STK / 0932700000008 / 2003RS-74 11/20/2009 06/06/2079 10,000 $0.000 0 Fidelity Stock Plan Services LLC Page 10 of 12

 

 

	Optionee Detail Report 05/04/2011 MINDSPEED TECHNOLOGIES, INC. (MSPD) All Participants Alphabetically (Active & Inactive)Participant NameParticipant !D # /
Employee ID # / Employee Status / Location Code / Locale / Division / Section 16B / Insider / Term Code / Term Date Product Type / Grant Type / Plan ID / Plan Name /
Client Grant ID/ Product IDGrant Expiry Options Grant Options Shares•Date Date Granted Price Outstanding Exercisable- — Exercise Options Exercise Date —
Type ExercisedPrice ‘ Vesting SharesDate Vested- CancelShares Date — Type Cancelled-MANKAR, ANIL S466756932 / 6006S1 / Active / 645 / Domestic / /
Section 16: Yes / Insider: Yes / /RA / RSA / MSPRS / MINDSPEED RESTRICTED STK / 1032000000289 / 2003RS-7411/05/2010 06/06/20795,000$0.00 5,000 011/05/2011
1,666 ‘ 1 ‘02/05/2012 416 05/05/2012 417 08/05/2012 41711/05/2012 41602/05/2013 41705/05/2013 41708/05/2013 41611/05/2013 418  —  Fidelity Stock
Plan Services LLC Page 11 of 12

 

 

	Optionee Detail Report 05/04/2011Grand Totals:Options Shares Client Id Options GrantedOutstanding Exercisable —  —  —  MSPD125,25372,334 27,332
Fidelity Stock Plan Services LLC Page 12 of 12

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