Document:

Agreement

 Exhibit 10.01 
  
 AGREEMENT 
  
 This Agreement (“Agreement”) is entered into as of the 30th day of November, 2005 (the “Effective Date”) by and between
Michael E. Marks, an individual, (“Executive”) and Flextronics International USA, Inc. (“Flextronics” or the “Company”). This Agreement amends and restates the Employment Agreement dated as of
July 8, 2005 between Executive and Flextronics. 
  
 1. Executive’s
Relationship with the Company. Executive acknowledges that he has been and currently is employed by Flextronics and he currently serves as Chief Executive Officer (“CEO”) of Flextronics International Ltd., Flextronics’s
parent (“FIL”). Executive agrees that he will continue to serve as CEO through January 1, 2006 (the “Employment Termination Date”), on which date Executive agrees that he shall relinquish his duties as CEO and
shall serve in the capacity of Chairman of the Board of Directors (the “Board”). 
  
 2. Acceleration of Contingent Share Award; Cash Payment; Director Compensation. 
  
 a. Acceleration of Contingent Share Award; Cash Payment. On the Effective Date, the Company will accelerate the balance of Five Million Nine
Hundred Forty-Five Thousand Seven Hundred Fourteen Dollars ($5,945,714) of the Total Award Amount under Executive’s Contingent Share Award Agreement which amount shall be deferred pursuant to such agreement. On July 3, 2006, the
Company will make a lump sum payment to Executive in the amount of One Million Five Hundred Fifty-Four Thousand Two Hundred Eighty-Six Dollars ($1,554,286). 
  
 b. Director Compensation. Effective January 2, 2006 and for so long as Executive serves on the Board of Directors, Executive will be
entitled to any cash compensation paid to non-employee directors until the next shareholders meeting and then Executive will be entitled to receive all cash and equity compensation approved by the shareholders for outside directors following the
next annual shareholders meeting. 
  
 3. Benefits. 
  
 a. Healthcare Benefits. Following the Employment Termination Date,
Flextronics shall procure medical and dental benefits substantially equivalent to the medical and dental benefits provided for Executive (including for the avoidance of doubt, coverage for Executive’s spouse) as of the Employment Termination
Date for the remainder of Executive’s and Executive’s spouse’s lives, respectively; provided however, that the medical and dental benefits provided in this paragraph shall be reduced to the extent, if any, that Executive receives
comparable benefits from another employer. Executive agrees to provide Flextronics with a notice within thirty (30) days of any change in Executive’s employment status and/or any change in Executive’s medical and dental benefits
coverage. Executive’s notice will outline the medical and dental benefits coverage and the proposed changes to such coverage (if any) so that Flextronics may determine whether Flextronics may either reduce, increase or terminate the medical and
dental benefits that it is procuring under this Section 3(a). In addition, Executive agrees to answer reasonable inquiries from Flextronics from time to time concerning Executive’s level of coverage under 

 Flextronics CONFIDENTIAL 
  

 
other medical and dental plans and to cooperate with Flextronics in order to enable Flextronics to procure the medical and dental benefits pursuant to this
Section 3(a). 
  
 b. Certain Life and Disability Insurance
Plans. Beginning on the Employment Termination Date, Executive shall not be eligible for life insurance, short-term disability buy up and/or long term disability benefits. 
  
 c. Individual Disability Insurance. Following the Employment Termination Date, the UnumProvident Individual
Disability Policy will be canceled. 
  
 d. 401(K) Plan.
Until the Employment Termination Date, Executive may continue to contribute to the 401(k) plan in accordance with Flextronics’s 401(k) Plan through withholding from Executive’s salary. Flextronics reserves the right to modify or to
cancel such plan at any time for any reason. 
  
 e. Use of
Corporate Jets. Beginning on the Employment Termination Date, Executive will be entitled to use the Flextronics’s corporate jets for his personal use, subject to availability, by paying Flextronics the variable cost of the use of the jet as
determined by Flextronics in its sole discretion or the IRS imputed income amount, whichever is greater. 
  
 4. Equity Compensation. 
  
 a. Executive’s Employee Options. 
  
 (i) Executive has been granted stock options pursuant to the Flextronics International Ltd. 1993 Share Option Plan; the Flextronics International Ltd. 1998 Interim Option Plan; the Flextronics International Ltd. 2001 Equity Incentive Plan;
and the Flextronics International Ltd. 2002 Interim Incentive Plan (collectively, the “Share Option and Incentive Plans”) as provided in the applicable option grant forms issued to Executive pursuant to each of the Share Option and
Incentive Plans. The Share Option and Incentive Plans are incorporated herein by reference. 
  
 (ii) Executive’s options are listed on Exhibit A, which is attached hereto and incorporated herein by reference (the
“Employee Options”). Executive acknowledges that he is not entitled to any additional grants of stock options in his capacity as an employee of Flextronics.  
  
 (iii) The Company and Executive agree that: 
  
 A. Option number 008490 granted on December 20, 2000 for one million (1,000,000) shares with an
exercise price of Twenty-Three Dollars and Eighteen and Three-Quarters Cents ($23.1875) is hereby cancelled as of the Effective Date. 
  
 B. The vesting of all Employee Options with an exercise price of Eleven Dollars and Fifty-Three Cents ($11.53) shall automatically be
deemed to be accelerated as of the Effective Date. 
  

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 Flextronics CONFIDENTIAL 
  

 C. The provisions of the Share Option and Incentive Plans that require that stock
options must be exercised within a fixed period of time following Termination or cessation of Service (as defined in the Share Option and Incentive Plans) other than for cause are hereby modified with regard to all Employee Options with an exercise
price greater than Ten Dollars and Fifty-Six Cents ($10.56) (“Out-of-the-Money Options”) as follows: following a Termination or cessation of Service, other than for cause, Executive will have the maximum term of ten (10) years
from the date of grant of each Out of the Money Option in order to exercise the option. Notwithstanding the foregoing, in no event shall this modification extend the exercisability of any Out of the Money Option later than such date as would cause
such option to be subject to Section 409A of the Internal Revenue Code of 1986, as amended. 
  
 5. Releases. 
  
 a.
General Release by Executive of Employment-Related Matters. In consideration for the covenants and release set forth in this Agreement, Executive on his own behalf and on the behalf his heirs, executors, administrators, successors, attorneys,
insurers, and assigns shall release and discharge each of Flextronics, FIL or any of their respective affiliates (collectively referred to as the “Flextronics Group”) and any predecessor divisions or entities, their respective past and
present officers, directors, shareholders, partners, attorneys, agents, employees, and their respective insurance companies, successors and assigns (hereinafter “Flextronics Releasees”), from any and all claims, of any and every
kind, nature and character, known and unknown, suspected and unsuspected, including any and all claims for attorneys’ fees and costs which Executive either may now have, or has ever had, against the Flextronics Releasees, which arise in whole
or in part from Executive’s employment relationship with Flextronics, the termination of that relationship, any other employment-related dealings of any kind between Executive and the Flextronics Group and/or any past or present officer,
director, agent or employees of the Flextronics Group and/or with respect to any other obligation (contractual or otherwise), event, matter, claim, damages or injury arising prior to the execution of this Agreement by all parties, other than claims
for indemnification which may exist or arise for matters arising on or prior to the Effective Date. 
  
 This release covers, but is not limited to: any and all claims, rights, demands, and causes of action for wrongful termination, intentional or negligent infliction of emotional distress, defamation, breach of any
employment contract or employment agreement, breach of the covenant of good faith and fair dealing, claim for reinstatement or rehire, failure to pay wages, commissions, benefits, PTO, severance or other compensation of any sort, discrimination,
right to paid or unpaid leave, and/or violation of any and all statutes, rules, regulations or ordinances whether state, federal or local, including without limitation: Title VII of the Civil Rights Act of 1964, as amended, the Americans with
Disabilities Act, as amended, the Fair Employment and Housing Act, as amended, and the Age Discrimination in Employment Act, as amended by the Older Workers’ Benefits Protection Act. Nothing in this release shall affect Executive’s right,
if any, to obtain unemployment benefits or any obligation set forth in this Agreement. This release does not extend to any of the obligations of Flextronics arising out of this Agreement. 
  

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 Flextronics CONFIDENTIAL 
  

 b. ADEA Waiver and Release. Executive hereby acknowledges that he is waiving and releasing any
rights he might have under the Age Discrimination in Employment Act of 1967 (“ADEA”), as amended, and that this waiver and release is knowing and voluntary. The parties agree that this waiver and release does not apply to any
rights or claims that may arise under ADEA after the parties have executed this Agreement and the revocation period has expired. Executive acknowledges that a portion of the consideration given for this waiver is in addition to anything of value to
which he was already entitled for salary and PTO up to the Employment Termination Date. Executive further acknowledges by this writing that he has been advised that (a) he should consult with an attorney prior to executing this
Agreement; (b) he has twenty-one (21) calendar days from the date of his receipt within which to consider this Agreement; (c) he has seven (7) calendar days following the execution of this Agreement by the parties to revoke the
Agreement; and (d) this Agreement shall not be effective until the revocation period has expired. Executive acknowledges that he received this Agreement on November 30, 2005. Executive understands that, in the event, he does not
execute this Agreement or revokes this Agreement in accordance with this paragraph, he will not be entitled to any benefits or payments provided for in this Agreement. 
  
 c. No Legal Action. Executive represents that he has not filed a legal action with any local, state or federal agency
or court relating in any manner to any claim released herein, and that if any such governmental agency or court assumes jurisdiction of any complaint or charge against Flextronics Releasees on behalf of Executive, relative to any claim released
herein, he will request such agency or court to withdraw from the matter. 
  
 d. Section 1542 Waiver. Executive acknowledges that he understands the statutory language of Section 1542 of the Civil Code of the State of California and, having been so apprised, agrees nevertheless
to waive any and all rights or benefits which he may now have, or in the future may have, under the terms of Section 1542 of the California Civil Code or any similar provision of any state or federal law. California Civil Code section 1542
provides as follows: 
  
 A general release does not extend to
claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor. 
  
 6. Confidentiality. 
  
 a. Restrictions on Use and Disclosure of Confidential Information.
Executive acknowledges and agrees that he will remain bound by the terms and obligations set forth in the Disclosure and Secrecy Agreement between Flextronics and Executive dated February 11, 1994 and attached hereto as Exhibit B
(the “Confidentiality Agreement”). Executive further acknowledges that the confidentiality, non-solicitation and non-compete clauses in this Agreement and the Confidentiality Agreement with Flextronics are intended to be read
together. Should the terms of the Confidentiality Agreement differ from the terms of this Agreement, the provisions of this Agreement shall prevail. 
  

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 Flextronics CONFIDENTIAL 
  

 Executive agrees that any original works of authorship, products, software, and/or applications that Executive
created or developed for Flextronics while in the employ of Flextronics is the sole property of Flextronics. Executive further acknowledges and agrees that Executive shall not, without the prior written consent of the Board, disclose or use for any
purpose (except in furtherance of the business of the Flextronics Group) any Confidential Information (as herein defined and as defined in the Confidentiality Agreement) of the Flextronics Group. 
  
 b. Scope of Confidential Information. Confidential Information shall
mean any and all proprietary or confidential information of the Flextronics Group or any of its vendors or customers, whether or not developed by Executive, including without limitation the following: 
  
 (i) Any and all technical information, including, without
limitation, product data and specifications, know-how, formulae, source code, or other software information, test results, processes, inventions, research projects or product development. 
  
 (ii) Any and all business information, including, without
limitation, cost information, profits, profit margins, sales information, costs, overhead, accounting and unpublished financial information, business plans, markets, marketing methods, vendor or customer lists, including without limitation, a
vendor’s or customer’s specific needs, advertising and operating strategies. 
  
 (iii) Any and all employee information, including, without limitation, salaries, and specific strengths, weaknesses and skills of
employees of the Flextronics Group. 
  
 c. Customer
Non-Solicitation. Executive understands and agrees that the relationship between the Flextronics Group and each of its customers and vendors constitutes a valuable asset of the Flextronics Group, that information related to customers is kept
confidential and may not be disclosed or converted for the use of Executive or any third party for any reason whatsoever. Accordingly, Executive shall not, directly or indirectly, for a period of one year after his date of termination, on behalf of
Executive or any third party, solicit any customer or vendor to conduct any business with such customer that is the same as or similar to, or is otherwise competitive with, the business of the Flextronics Group or to terminate such vendor’s or
customer’s business relationship with the Flextronics Group. 
  
 d. Employee Non-Solicitation. Executive understands and agrees that the relationship between the Flextronics Group and each of its employees constitutes a valuable asset of the Flextronics Group, that information related to
employee’s skills and compensation is kept confidential, and may not be disclosed or converted for the use of Executive or any third party for any reason whatsoever. Accordingly, Executive shall not, directly or indirectly, for a period of one
year after his date of termination, on behalf of Executive or any third party, solicit any employee to terminate his or her employment relationship with the Flextronics Group. 
  

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 Flextronics CONFIDENTIAL 
  

 7. Miscellaneous. 
  
 a. Representation by Counsel. The parties represent that they have had an opportunity to be represented by counsel of
their own choosing in the execution of this Agreement and that this Agreement has been carefully and fully read and is voluntarily executed. 
  
 b. Severability; Section 409A. It is the desire and intent of the parties that the provisions of this Agreement shall be enforced to the
fullest extent permissible under applicable law. If any particular provision or portion of this Agreement shall be adjudicated to be invalid or unenforceable, this Agreement shall be deemed amended to revise those provisions or portions to the
minimum extent necessary to render them enforceable. Notwithstanding any provision in this Agreement to the contrary, in the event that any payment otherwise provided by or provision of this Agreement would result in the Executive recognizing
deferred compensation subject to additional taxes under Section 409A of the Internal Revenue Code of 1986, as amended, any obligation to make and any right to receive such payment and any such provision shall be void and have no force or effect
and the parties shall to the extent possible agree upon a substitute payment or provision that accomplishes the intended purpose of the void payment or provision. For purposes hereof, any determination as to whether any payment otherwise required by
or provision of this Agreement would result in the Executive recognizing deferred compensation subject to additional taxes under Section 409A shall be made by Flextronics, in its sole discretion. 
  
 c. Governing Law; Waiver of Jury Trial. This Agreement shall in all
respects be interpreted, enforced, and governed under the laws of the State of California. 
  
 IN THE EVENT OF ANY DISPUTE BETWEEN THE PARTIES, WHETHER IT RESULTS IN PROCEEDINGS IN ANY COURT IN ANY JURISDICTION OR IN ARBITRATION, THE PARTIES HEREBY KNOWINGLY AND VOLUNTARILY, AND HAVING HAD AN OPPORTUNITY TO
CONSULT WITH COUNSEL, WAIVE ALL RIGHTS TO TRIAL BY JURY, AND AGREE THAT ANY AND ALL MATTERS SHALL BE DECIDED BY A JUDGE OR ARBITRATOR WITHOUT A JURY TO THE FULLEST EXTENT PERMISSIBLE UNDER APPLICABLE LAW. 
  
 d. 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 pertaining to any subject matter contained in this Agreement, except that the Confidentiality Agreement and Share Option and
Incentive Plans as defined in Section 4 of this Agreement shall remain in full force and effect, except as modified by this Agreement. Any amendments or modifications to this Agreement must be made in writing and signed by both parties.

  
 e. Notices. All notices required or permitted under
this Agreement will be in writing and will be deemed received (a) when delivered personally; (b) when sent by confirmed facsimile; (c) five (5) days after having been sent by registered or certified mail, return receipt
requested, postage prepaid; or (d) one (1) day after deposit with a commercial overnight carrier. All communications will be sent to the addresses as may be designated by a party by giving written notice to the other party pursuant to this
subsection. 
  

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 Flextronics CONFIDENTIAL 
  

 f. Counterparts. This Agreement may be signed in counterparts. A copy of a signature shall
have the full force and effect as an original signature. 
  
 IN WITNESS WHEREOF,
this Agreement is executed as of the Effective Date. 
  

			
	
	 /s/ MICHAEL E. MARKS

	 MICHAEL E. MARKS

	
	 FLEXTRONICS INTERNATIONAL USA, INC.

		
	 By:
	 	 /s/ THOMAS J. SMACH

	 	 	 THOMAS J. SMACH,

	 	 	 CHIEF FINANCIAL OFFICER

  

 7Employment Agreement between the Company and Tony Alvarez

 Exhibit 10.1 
  
 EMPLOYMENT AGREEMENT 
  

This Employment Agreement (the “Agreement”) is entered into as of November 28, 2005 by and between Leadis Technology,
Inc., a Delaware corporation (the “Company”), and Antonio R. Alvarez (the “Executive”). 
  
 In consideration of the promises and the terms and conditions set forth in this Agreement, the parties agree as follows: 
  

	1.	Position and Duties. 

  
 (a) Chief Executive Officer. Executive will begin employment as Chief Executive Officer of the Company no later than November 29, 2005.
Executive shall report to the Board of Directors (the “Board”) and will have all duties, authorities and expectations customary for a chief executive officer of a public company. In addition, Executive shall perform such
other reasonable duties as determined by the Board. Executive shall devote his full business time, skill and attention to the performance of his duties on behalf of the Company. 
  
 (b) Board of Directors. While Executive is employed as Chief Executive Officer of the Company, the Company will
recommend that Executive serve and be re-elected as a member of the Company’s Board at no additional compensation. Executive agrees to resign from the Board upon termination of his employment as Chief Executive Officer for any reason, unless
requested to continue. 
  

	2.	Salary and Bonus. 

  
 (a) Salary. Executive will be paid an annual salary of $350,000, payable as earned in accordance with the Company’s customary payroll practice
and subject to required deductions and withholdings. 
  
 (b)
Bonus. Executive will be eligible to receive a target bonus of up to 60% of his base salary per year in the event the Board or the Company’s Compensation Committee determines in its sole discretion that Executive and the Company have
achieved the performance objectives as set by the Board. This bonus may be increased up to 90% of Executive’s base salary per year in the event the Board determines that Executive and the Company have substantially exceeded the performance
objectives established by the Board, in a manner consistent with market practices. The Board or Compensation Committee will have the sole discretion to determine whether such bonuses are earned and, if so, the amount of any such bonus. Any bonuses
provided to Executive will be subject to required deductions and withholdings. 
  

	3.	Stock Options. 

  
 Subject to approval by the Board, Executive will be granted a stock option to purchase 750,000 shares of the Company’s Common Stock at an exercise
price equal to the then current fair market value per share on the date of grant (the “Option”). Subject to the accelerated vesting provisions set forth herein, the Option will vest as to 25% of the shares subject to the
Option one year after the date Executive begins employment with the Company, and as to l/48th of the shares subject to the Option monthly thereafter, so that the Option will be fully vested and exercisable four (4) years from the date of grant,
subject to Executive’s continued service to the Company on the relevant vesting dates. No right to any option shares subject to the Option or any other option grant received by the Executive shall be earned or accrued until such time that
vesting occurs. The Option shall have a term of six (6) years. The Option will be subject to the terms, definitions and provisions of any applicable Company stock option 

  

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plan (the “Option Plan”), if the Option is issued pursuant to a plan, and one or more stock option agreements by and between
Executive and the Company (collectively, the “Option Agreement”), which documents are incorporated herein by reference. 
  

	4.	Benefits and Expenses. 

  
 (a) Benefits. While employed hereunder, Executive will be entitled to participate in the employee benefit plans currently and hereafter maintained
by the Company of general applicability to other senior executives of the Company, including, without limitation, the Company’s group medical, dental, vision, disability, life insurance and vacation plans. The Company reserves the right to
cancel or change the benefit plans and programs it offers to its employees at any time. 
  
 (b) Expenses. The Company will reimburse Executive for all reasonable and necessary expenses incurred by Executive in connection with the Company’s business, in accordance with any applicable policy
established by the Company from time to time. 
  

	5.	At-Will-Employment. 

  
 Executive will be an at-will employee of the Company, which means the employment relationship can be terminated by either Executive or the Company at any
time, with or without prior notice, and with or without cause. Any statements or representations to the contrary are ineffective. Any modification or change in Executive’s at-will employment status may only occur by way of a written employment
agreement signed by Executive and the Company. 
  

	6.	Severance. 

  
 (a) Termination Without Cause or Resignation for Good Reason. Notwithstanding Executive’s at-will employment status, if:
(a) Executive’s employment with the Company is terminated without Cause (as defined below) or Executive resigns his employment for Good Reason (as defined below) (a “Qualifying Termination”), and (b) Executive
signs a general and complete release of any and all potential claims against the Company, its directors, officers, employees, agents and affiliates in a form acceptable to the Company and allows such release to become effective, and
(c) Executive signs a one-year consulting agreement with the Company, which shall include a non-compete provision, in a form acceptable to the Company; then in addition to any other amounts that may be due Executive: (i) the Company shall
continue to pay Executive’s then current salary, less required tax withholdings, payable on the Company’s normal payroll dates, for a period of 12 months following the date of such Qualifying Termination, (ii) the Company shall pay
Executive a bonus in the amount of Executive’s then current target bonus, payable at the time the Company normally pays executive bonuses, and subject to required deductions and withholdings, (iii) should Executive timely elect to continue
his health care insurance benefits under federal COBRA law or similar state statutes, the Company shall pay the cost of continuing Executive’s then current health insurance coverage for a period of 12 months following the date of such
Qualifying Termination, and (iv) effective as of such Qualifying Termination, Executive shall automatically and without further action required on Executive’s part or the part of the Company receive 12 months of vesting acceleration with
respect to each outstanding stock option held by Executive (but in each case, not exceeding to the total number of shares that remain unvested under the relevant document or agreement) and the period in which Executive may exercise such options
shall be 12 months from such Qualifying Termination (collectively, the benefits as described in (i), (ii), (iii) and (iv) are referred to as the “Basic Severance Compensation”). 
  

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	 	(b)	Termination Without Cause or Resignation for Good Reason Following an Acquisition. 

  
 (1) Acquisition Prior to Executive’s First Anniversary of Employment. If: (a) a Qualifying
Termination occurs prior to Executive’s first anniversary of employment and also occurs during the twenty-four (24) month period following the consummation of an Acquisition (as defined below), and (b) Executive signs a general
and complete release of any and all potential claims against the Company, its directors, officers, employees, agents and affiliates in a form acceptable to the Company and allows such release to become effective; then in addition to any other
amounts that may be due to Executive, but in lieu of the Basic Severance Compensation described above: (i) the Company shall continue to pay Executive’s then current salary, less required tax withholdings, payable on the Company’s
normal payroll dates, for a period of 12 months following the date of such Qualifying Termination, (ii) the Company shall pay Executive a bonus in the amount of Executive’s then current target bonus, payable at the time the Company
normally pays executive bonuses, and subject to required deductions and withholdings, (iii) should Executive timely elect to continue his health care insurance benefits under federal COBRA law or similar state statutes, the Company shall pay
the cost of continuing Executive’s then current health insurance coverage for a period of 12 months following the date of such Qualifying Termination, and (iv) effective as of such Qualifying Termination, Executive shall automatically and
without further action required on Executive’s part or the part of the Company receive 24 months of vesting acceleration with respect to each outstanding stock option held by Executive (but in each case, not exceeding to the total number of
shares that remain unvested under the relevant document or agreement) and the period in which Executive may exercise such options shall be 12 months from such Qualifying Termination. 
  
 (2) Acquisition After Executive’s First Anniversary of Employment. If: (a) a Qualifying
Termination occurs after Executive’s first anniversary of employment and also occurs during the twenty-four (24) month period following the consummation of an Acquisition (as defined below), and (b) Executive signs a general
and complete release of any and all potential claims against the Company, its directors, officers, employees, agents and affiliates in a form acceptable to the Company and allows such release to become effective; then in addition to any other
amounts that may be due to Executive, but in lieu of the Basic Severance Compensation described above: (i) the Company shall continue to pay Executive’s then current salary, less required tax withholdings, payable on the Company’s
normal payroll dates, for a period of 24 months following the date of such Qualifying Termination, (ii) the Company shall pay Executive an amount equal to twice Executive’s then current target bonus, payable in two equal yearly
installments at the time the Company normally pays executive bonuses, and subject to required deductions and withholdings, (iii) should Executive timely elect to continue his health care insurance benefits under federal COBRA law or similar
state statutes, the Company shall pay the cost of continuing Executive’s then current health insurance coverage for a period of 24 months following the date of such Qualifying Termination, and (iv) effective as of such Qualifying
Termination, Executive shall automatically and without further action required on Executive’s part or the part of the Company receive full vesting acceleration with respect to each outstanding stock option held by Executive (but in each case,
not exceeding to the total number of shares that remain unvested under the relevant document or agreement) and the period in which Executive may exercise such options shall be 12 months from such Qualifying Termination. 
  

	 	(c)	Definitions. 

  
 (i) As used herein, an “Acquisition” means (1) a consolidation, merger or other reorganization of the Company with or into
any other entity or entities in which the holders of the 

  

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Company’s outstanding shares immediately before such consolidation, merger or other reorganization do not, immediately after such consolidation, merger
or reorganization, retain equity interests representing a majority of the voting power of the surviving entity of such consolidation, merger or reorganization as a result of their shareholdings in the Company immediately prior to the consolidation,
merger or reorganization, (2) a sale of all or substantially all of the assets of the Company and its subsidiaries, on a consolidated basis (except in connection with an insolvency, bankruptcy or similar proceeding) or (3) the acquisition
by any person (including any corporation), directly or indirectly, of more than fifty percent (50%) of the combined voting power of the Company’s then outstanding securities. 
  
 (ii) For purposes of this Agreement, “Cause” shall mean one or more of the following, as determined
by the Board in its sole discretion: (1) willful misconduct by Executive that is injurious to the Company’s reputation or business; (2) Executive’s violation of any federal, state or other law or regulation applicable to the
Company’s business, or of any Company policy; (3) any act of dishonesty, fraud or misrepresentation made by Executive in connection with his responsibilities as an employee of the Company; (4) Executive’s indictment with respect
to a crime that negatively reflects on Executive’s fitness to perform his duties or harms the Company’s reputation or business; and (5) a material breach of Executive’s obligations hereunder, or under any applicable invention
assignment and/or confidentiality agreement or similar agreement. 
  
 (iii) For purposes of this Agreement, “Good Reason” means a resignation by Executive because any one or more the following occurs without his consent: (1) a material reduction in Executive’s salary (except
for salary reductions imposed upon all executive officers of the Company), (2) Executive does not serve in the position of Chief Executive Officer of the successor company, (3) a relocation of Executive’s principal place of employment
by more than 35 miles, and (4) a material breach by the Company of its obligations under this Agreement that is not cured within 20 days of written notice to the Board thereof. 
  
 (d) Deferred Compensation. In the event that any cash severance benefit or continued medical benefit provided to you
by the Company pursuant to this Agreement would fail to satisfy the distribution requirement of Section 409A(a)(2)(A) of the Internal Revenue Code of 1986, as amended (the “Code”) as a result of the application of
Section 409A(a)(2)(B)(i) of the Code, the payment of such benefits will be delayed to the minimum extent necessary so that such benefits are not subject to the provisions of Section 409A(a)(1) of the Code. The Company shall attach
conditions to or adjust the amounts paid pursuant to this paragraph to preserve, as closely as possible, the economic consequences that would have applied in the absence of this paragraph; provided, however, that no such condition or
adjustment shall result in the payments being subject to Section 409(A)(1) of the Code. 
  

	7.	Miscellaneous. 

  
 (a) Confidential Information Agreement. Executive agrees to enter into the Company’s standard Agreement Regarding Confidential Information and
Proprietary Developments (the “Confidential Information Agreement”) upon commencing employment hereunder. 
  
 (b) Eligibility for Employment. For purposes of federal immigration law, Executive will be required to provide to the Company documentary evidence
of eligibility for employment in the United States. Such documentation must be provided to within three (3) business days of Executive’s date of hire, or Executive’s employment relationship with the Company may be terminated.

  
 (c) Arbitration. To ensure the timely and economical
resolution of disputes that arise in connection with Executive’s employment with the Company, Executive and the Company agree that any and all disputes, claims, or causes of action arising from or relating to the enforcement, breach, 

  

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performance or interpretation of this Agreement, Executive’s employment, or the termination of Executive’s employment, shall be resolved to the
fullest extent permitted by law by final, binding and confidential arbitration, by a single arbitrator, in Santa Clara County, California, conducted by Judicial Arbitration and Mediation Services, Inc. (“JAMS”) pursuant to
the JAMS rules for the resolution of employment disputes, or another mutually agreeable arbitration service, under the applicable employment rules. By agreeing to this arbitration procedure, both Executive and the Company waive the right to resolve
any such dispute through a trial by jury or judge or administrative proceeding. The arbitrator shall: (a) have the authority to compel adequate discovery for the resolution of the dispute and to award such relief as would otherwise be permitted
by law; and (b) issue a written arbitration decision, to include the arbitrator’s essential findings and conclusions and a statement of the award. The arbitrator shall be authorized to award any or all remedies that Executive or the
Company would be entitled to seek in a court of law. The Company shall pay all arbitration fees in excess of the amount of court fees that would be required if the dispute were decided in a court of law. Nothing in this Agreement is intended to
prevent either Executive or the Company from obtaining injunctive relief in court to prevent irreparable harm pending the conclusion of any such arbitration. Except with respect to the arbitration fees set forth above, in the event of any dispute
between the parties to this Agreement, each party will be responsible for its own attorneys’ fees. 
  
 (d) Assignment. This Agreement will be binding upon and inure to the benefit of (a) Executive’s heirs, executors and legal
representatives upon Executive’s death and (b) any successor of the Company. Any such successor of the Company will be deemed substituted for the Company under terms of this Agreement for all purposes. For this purpose,
“successor” means any person, firm, corporation or other business entity which at any time, whether by purchase, merger or otherwise, directly or indirectly acquires all or substantially all of the assets or business of the Company.
Executive’s rights to receive any form of compensation payable pursuant to this Agreement may not be assigned or transferred except by will or the laws of decent and distribution. Any other attempted assignment, transfer, conveyance or other
disposition of Executive’s right to compensation or other benefits will be null and void. 
  
 (e) No Waiver. The failure by either party at any time to require performance or compliance by the other of any of its obligations or agreements shall in no way affect the right to require such performance or
compliance at any time thereafter. The waiver by either party of a breach of any provision hereof shall not be taken or held to be a waiver of any preceding or succeeding breach of such provision or as a waiver of the provision itself. No waiver of
any kind shall be effective or binding, unless it is in writing and is signed by the party against whom such waiver is sought to be enforced. 
  
 (f) Entire Agreement. This Agreement, together with the Option Plan, any Option Agreement and the Confidential Information Agreement represents the
entire agreement and understanding between the parties as to the subject matter herein and supersedes all prior or contemporaneous agreements whether written or oral. This Agreement only may be modified in a written amendment signed by the parties
hereto. In the event that any provision hereof becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, this Agreement will continue in full force and effect without said provision. 
  
 (g) Governing Law. This Agreement and the rights and obligations of
the parties hereto shall be construed in accordance with the laws of the State of California, without giving effect to the principles of conflict of laws. 
  
 (h) 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,
taken together, constitute one and the same agreement. 
  

 5 

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

  

	
	LEADIS TECHNOLOGY, INC.
	
	 /s/ Lip-Bu Tan

	Lip-Bu Tan
	Member, Board of Directors

  

	
	EXECUTIVE
	
	 /s/ Antonio R. Alvarez

	Antonio R. Alvarez

  

 6

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