Document:

EX-10.12

 Exhibit 10.12 

eASIC Corporation 
 2585
Augustine Drive, Suite 100 
 Santa Clara, CA 95054 

Tel: (408) 855-9200 
 Fax:
(408) 855-9201 
 www.easic.com 

May 1, 2014 
 Michael S. Fender 

Dear Michael, 
 eASIC Corporation (“eASIC” or the
“Company”) is pleased to formally offer you a full time position as Vice President of Worldwide Sales. You will be reporting to Ronnie Vasishta, President and CEO. You will be responsible for duties commensurate with this position.
Throughout the term of your employment, you will devote on a full time basis such business time and energies to the business and affairs of the Company as needed to carry out your duties and responsibilities. As an exempt employee, you are required
to exercise your specialized expertise, independent judgment and discretion to provide high-quality services. 
 Compensation: 

Your monthly salary will be $15,833.34, which is equivalent to $190,000.00 annually. Your monthly salary will be less payroll deductions and all required
withholdings. 
 Your target commission incentive per year will be $130,000.00, the metrics for which is attached to this document as Attachment A. You will
receive a guaranteed payout from May 12, 2014 through June 30, 2014 plus another three (3) months from July 1 through September 30, 2014. Your guaranteed payout does not include the 1/3 payout from the executive bonus plan
as stated in Attachment A 
 You will be eligible to participate in the Company’s health benefits, vacation and holiday pay, and other employee
benefits, in accordance with the Company’s employee policies as developed, adopted and modified from time to time. The Company reserves the right to modify or cancel such benefits at any time. 

You will also receive a monthly car allowance of $600.00. Your monthly car allowance will be less payroll deductions and all required withholdings. 

Relocation Expenses: 
 eASIC will compensate you up to
$50,000.00 in relocation expenses. eASIC will also support (up to a year maximum) your airfare for trips home during the transition time. When possible you should incorporate these trips with other work related sales trips. 

Start Date: 
 Your start date is:
May 12, 2014 

  
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 Reassignment 

The Company reserves the right in its discretion to assign you to perform duties at any other location or that may differ in any manner whatsoever from any
duties described in this agreement. 
 Common Stock Shares 

In connection with your employment with the Company, the Company will recommend that the Board of Directors grant you an option to purchase five million five
hundred thirty one thousand two hundred eighty two (5,531,282) shares of the Company’s Common Stock (“Shares”). The option shall have an exercise purchase price equal to the fair market value on the date of the grant as
determined by the Company’s Board of Directors. Twenty-five percent of the Shares shall vest upon your completion of one year of continuous service from your start date, and the remaining shares shall vest each month of continuous service
thereafter over the next three years, provided however, that the Shares shall be subject to acceleration based on the double trigger acceleration provisions attached hereto as Schedule B. The Shares will continue to vest only so long as you continue
to be employed by the Company. The option will be an incentive stock option to the maximum extent allowed by applicable law and will be subject to the terms of the Stock Option Agreement between you and the Company. 

Confidentiality Agreement 
 During the full time period of
your employment, you will not engage in any employment or business activity other than for the Company without the express written consent of the Company. 

As an eASIC employee, you will be expected to abide by Company rules and regulations and sign and comply with the Company’s standard agreement relating
to proprietary rights (the “Inventions Agreement”). This letter, the “Inventions Agreement”, the Company policy for all employees, and your Stock Option Agreement between you and eASIC, set forth the terms of your employment with
the Company and supersede any prior representations or agreements, whether written or oral. As required by law, this offer is subject to satisfactory proof of your right to work in the United States. This letter may not be modified or amended,
except by a written agreement, signed by the Company and you. 
 At Will Employment 

You should be aware that your employment with eASIC is for no specified period and constitutes “at will” employment. As a result, you are free to
resign at any time, for any reason or for no reason, simply by notifying the Company. Similarly, eASIC is free to conclude its employment relationship with you at any time for any reason, with or without cause. This at-will employment relationship
cannot be changed except in a writing signed by a Company officer. 
 Dispute Resolution 

You and the Company agree that any dispute between you (including any claims you may have against any officer, director, or employee of the Company or any
subsidiary thereof), including without limitation any dispute arising directly or indirectly out of termination of the employment relationship created hereunder, shall be resolved under the Company dispute Resolution Procedure where Arbitration
shall be the exclusive final remedy for dispute between the parties. 

  
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 The aforementioned are the terms and conditions of your employment and any other representation which may
have been made to you are superseded by this offer. If the above terms and conditions are in accordance with your understanding, please sign this letter where indicated below and return it to me. This offer, if not accepted, will expire on
May 9, 2014. Your employment is contingent upon your providing the Company with the legally required proof of your identity and legal right to work in the United States. It is mandatory that you bring with you your documents on your
first day of work at eASIC. 
 eASIC intends to be the technology leader in the Structured ASIC, Configurable Logic, and FPGA segments of the IC
design implementation and manufacturing market and hopes that you will join us in this mission. Michael, all of us at eASIC look forward to having you join us. I am confident that your contribution will be an asset in our success. If you have any
questions about this letter or your offer, please do not hesitate to contact me. 
 Sincerely, 

 

			
	By:	 	/s/ Ronnie Vasishta
		 	Ronnie Vasishta, CEO

 This offer of employment is expressly conditioned upon, and shall not be effective in the absence of your agreement and
acceptance. 
 I agree to and accept this offer of employment with eASIC Corporation. 

 

	
	/s/ Michael S. Fender
	Michael S. Fender
	
	May 5th, 2014
	Date

  
 Page 3 

 SCHEDULE B 

DOUBLE TRIGGER ACCELERATION PROVISION 

In the event of (i) your involuntary termination by the Company without Cause, or (ii) your voluntary termination for Good Reason, in either case
occurring after a Change in Control but not later than twelve (12) months following a Change in Control, and subject to your signing, dating, returning to the Company and allowing to become effective a general release of all known and unknown
claims in favor of the Company and its officers, directors, shareholders, employees, agents and successors, the option(s) will be subject to vesting acceleration of 100% of each such option’s then unvested shares. 

“Change in Control” means; (i) the acquisition of the Company by another entity by means of any transaction or series of related
transactions (including, without limitation, any reorganization, merger or consolidation but excluding any merger effected exclusively for the purpose of changing the domicile of the Company) if as a result of such transaction or series of related
transactions the shareholders of the Company prior to the commencement of the transaction or transactions own less than thirty percent (30%) of the voting shares of the entity surviving such transaction or transactions; (ii) the sale,
transfer or other disposition of all or substantially all assets of the Company; or (iii) a sale of all or substantially all of the capital stock of the Company. 

“Cause” means (i) your conviction or plea of nolo contendere to a felony or other intentional misconduct that, in the reasonable and good
faith determination of the Board, (A) makes it impracticable for you to discharge substantially all of your duties as an officer of the Company, or (B) has a deleterious effect on the Company’s reputation in its market or in the
financial community, (ii) you commit gross negligence or intentional misconduct (including, without limitation, embezzlement, fraud or dishonesty) that is materially injurious to the Company, or (iii) you violate in a material respect your
employment duties (including, but not limited to, (A) a willful or grossly negligent act by you constituting a material breach of your Employee Confidentiality And Inventions Assignment Agreement or (B) your failure to substantially
perform your duties as an employee of the Company consistent with your title and duties and you do not cure such violation within fifteen (15) calendar days after receiving written notice from the Company detailing the specific actions of such
failure to perform and the specific actions necessary for you to cure such failure to perform). 
 “Good Reason” means your resignation of
employment with the Company as a result of any action by the Company (or its successor or acquirer) which, without your written consent, (i) materially reduces the amount of your then annual base compensation, except for a general reduction
that applies proportionally to similarly situated employees, or (ii) unilaterally and materially changes your title and duties; provided, however, that the unilateral change by the surviving or acquiring entity (or its
parent) in your title and duties to a position that is substantially comparable in salary and responsibility to your current position shall not constitute “Good Reason”, or (iii) relocation of your principal place of employment by
more than twenty-five (25) miles, or (iv) a successor entity’s failure to assume this Agreement, or (v) any material breach by the Company of any material 

  
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provision of any written agreement between you and the Company. For your resignation to qualify as “Good Reason,” the following also must occur: (A) within the 60-day period
immediately following the material change or reduction that you claim constitutes Good Reason for your resignation, you provide the Board with written notice of the applicable material change or reduction; (B) such material change or reduction
is not remedied by the Company within thirty (30) days following the Board’s receipt of such written notice from you; and (C) your resignation of employment is effective not later than thirty (30) days after the expiration of the
aforementioned thirty (30) day cure period. 

  
 Page 5EX-10.13

 Exhibit 10.13 

September 23, 2005 
 Jasbinder Bhoot 

______________ 
 ______________ 

Dear Jasbinder, 
 eASIC Corporation (“eASIC” or the
“Company”) is pleased to formally offer you a full time position as Senior Director of IP Applications Marketing. You will be responsible for duties commensurate with this position and will report to Ronnie Vasishta, Chief Executive
Officer. 
 Compensation: 
 Your monthly salary will be
$12,916.67 less payroll deductions and all required withholding. You will be eligible for a $20,000.00 annual performance bonus for the first three years of your employment. After that the performance bonus will be per the company plan. The metrics
for the performance bonus for the first year will be agreed to within 90 days after you joining the company and then annually thereafter. You will be entitled to all Company benefits consistent with the Company’s benefit plans. 

Start Date: 
 Your starting date is: October 10th,
2005        . 
 Reassignment 

The Company reserves the right in its discretion to assign you to perform duties at any other location or that may differ in any manner whatsoever from any
duties described in this agreement. 
 Common Stock Shares 

In connection with your employment with the Company, the Company will recommend that the Board of Directors grant you an option to purchase One Hundred and
Fifty Five (155,000) shares of the Company’s Common Stock (“Shares”). The option shall have an exercise purchase price equal to the fair market value on the date of the grant as determined by the Company’s Board of
Directors. Twenty percent of the Shares shall vest upon your completion of one year of continuous service from your start date, and another twenty percent of the Shares shall vest upon the completion of the second year of your continuous service.
The remaining sixty percent of the shares shall vest each month of continuous service thereafter. The Shares will continue to vest only so long as you continue to be employed by the Company. The option will be an incentive stock option to the
maximum extent allowed by applicable law and will be subject to the terms of the Stock Option Agreement between you and the Company. 
 Confidentiality
Agreement 
 During the full time period of your employment, you will not engage in any employment or business activity other than for the Company
without the express written consent of the Company. 
 As an eASIC employee, you will be expected to abide by Company rules and regulations and sign and
comply with the Company’s standard agreement relating to proprietary rights (the “Inventions Agreement”). This letter, the “Inventions Agreement”, the Company policy for all employees, and

 
your Stock Option Agreement between you and eASIC, set forth the terms of your employment with the Company and supersede any prior representations or agreements, whether written or oral. As
required by law, this offer is subject to satisfactory proof of your right to work in the United States. This letter may not be modified or amended, except by a written agreement, signed by the Company and you. 

At Will Employment 
 You should be aware that your
employment with eASIC is for no specified period and constitutes “at will” employment. As a result, you are free to resign at any time, for any reason or for no reason, simply by notifying the Company. Similarly, eASIC is free to conclude
its employment relationship with you at any time for any reason, with or without cause. This at-will employment relationship cannot be changed except in a writing signed by a Company officer. 

The aforementioned are the terms and conditions of your employment and any other representation which may have been made to you are superseded by this offer.
If the above terms and conditions are in accordance with your understanding, please sign this letter where indicated below and return it to me. This offer, if not accepted, will expire on
                    . Your employment is contingent upon your providing the Company with the legally required proof of identity and legal
right to work in the United States. It is mandatory that you bring with you your documents on your first day of work at eASIC. 
 Jasbinder, all of us at
eASIC look forward to having you join us. I am confident that your contribution will be an asset in our success. 
 Sincerely, 

 

			
	By:	 	 /s/ Ronnie Vasishta

		 	Ronnie Vasishta

 This offer of employment is expressly conditioned upon, and shall not be effective in the absence of your agreement and
acceptance. 
 I agree to and accept this offer of employment with eASIC Corporation. 

 

	
	 /s/ Jasbinder Bhoot

	Jasbinder Bhoot
	
	 Sept, 26.th 2005

	Date

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